Buy, Sell, Hold – what the brokers say

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Merger and acquisition talk dominated broker activity this week, with the Hochtief bid for 74% of Leightons obviously drawing analyst attention and the Westfield restructure causing BA-Merrill Lynch to upgrade Westfield Group and downgrade Westfield Retail Trust.

In the good books

Deutsche Bank has upgraded Ardent Leisure Group (AAD) to Buy from Hold.

It now believes Ardent is a strategic way to play the macro theme in the US economic recovery, as well as the depreciating Australian dollar and improving Australian leisure market.

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