Local plumbers' favourite Reliance Worldwide made a big acquisition in the UK, in what could prove a transformative event in the company's development, and two stockbroking analysts responded by upgrading their ratings for the shares. This proved sufficient to keep upgrades and downgrades in perfect balance for the week ending Friday, 25th May 2018.
In the good books
ARISTOCRAT LEISURE LIMITED (ALL) was upgraded to Outperform from Neutral by Credit Suisse. B/H/S: 7/1/0. Credit Suisse' response to Aristocrat's result is to increase forecast earnings by 13%, up its target to $35 from $28, and upgrade its rating to Outperform. The standout performance was posted by digital. The broker sees the potential for the company to scope out a much bigger position in the US mobile games industry from a current 2% market share.