In the good books
Mayne Pharma Group (MYX) was upgraded to Outperform from Neutral by Credit Suisse. B/H/S – 2/0/0. Credit Suisse assesses the market for two new drugs the company intends to launch in FY19 and does not believe the current share price adequately reflects the intrinsic value of these drugs. The broker considers the stock undervalued and upgrades to Outperform from Neutral. Target is increased to $1.00 from $0.74 and further weakness in the upcoming results is considered a buying opportunity.
Western Areas (WSA) was upgraded to Neutral from Sell by Citi. B/H/S – 3/3/1. Previously Citi's house forecast was for weaker nickel prices ahead, which underpinned its Sell rating for Western Areas. As the house view has now shifted towards "a more constructive view" on nickel (their words) the rating has moved to Neutral. Target price lifts to $3.20 from $2.60