For the week ending Friday, 27th July 2018 FNArena registered six upgrades for ASX-listed stocks from the eight stockbrokers we monitor daily, but also eleven downgrades.
There are a lot more fireworks to admire in the table for positive revisions to earnings estimates, which should not surprise with resources stocks enjoying positive momentum. Alacer Gold, Galaxy Resources and Iluka Resources all enjoyed increases of 14.90% and beyond.
In the good books
ISENTIA GROUP LIMITED (ISD) was upgraded to Buy from Neutral by UBS. B/H/S: 1/1/1. UBS argues that a significant level of earnings downside is now factored into the share price. The broker envisages FY19 as a potential year of transformation. Analysis suggests upside for valuation and earnings growth and, if not, the stock then becomes a cash-flow yield play on declining earnings. Rating is upgraded to Buy from Neutral. Target is reduced to $1.00 from $1.05.