For the week, FNArena registered nine upgrades and eight downgrades for individual ASX-listed stocks, with Woodside Petroleum (2x upgrades) and Class ltd (2x downgrades), respectively, stealing the show on both sides of the ledger. (Woodsides upgrades were covered in last Thursday’s Switzer Report).  If there are any themes to pay attention to, they are that companies operating in the fringes of the automobile sector seem to have been cast aside too easily, according to analysts, while energy and miners divide, and bricks & mortar retailers simply cannot find any new friends.
Apparently, Christmas sales have been awful, and reasonable at best for the better performers in the sector. Gold miners are losing favour now that equities in general are trying to build a base.
As far as earnings estimates are concerned, the balance is decidedly in favour of falling forecasts, which are needed for the current healing process to run its course. QBE Insurance, Santos and Woodside Petroleum have been enjoying positive adjustments, while notable reductions have arrived for companies including Sydney Airport, Syrah Resources, Challenger, Japara Healthcare, Suncorp and Costa Group.