The underlying picture for the Australian share market, as seen through the prism of stockbroker ratings and projections, continues to show ongoing improvement. The negative side of the ledger continues to be dominated by companies that release disappointing market updates.
In the good books
Charter Hall (CHC) was upgraded to Buy from Neutral by Citi. Citi remains keen on property fund managers and, after residential developers, believes they offer the greatest potential for earnings upside. The pull back in Charter Hall's share price is an opportunity to buy the stock. FY15 is expected to be another strong year and the company is well positioned to take advantage of the strong appetite for Australian real estate.