Resources stocks have started to rally from beaten down share price levels while stockbroking analysts are still paring back forecasts and valuations. As they say in the trade: timing is everything!
And so it is that negative adjustments to price targets and estimates are being fully populated by industrial commodities and energy, with few exceptions only such as Nufarm (agri-sector) and Dexus (property).
Total upgrades and downgrades for the week were seven versus seven. Note: this is against a background of major indices planning yet another attack at the (so far) elusive 6000.