Buy, Sell, Hold – what the brokers say

Founder of FNArena
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Stockbrokers are using the quiet post-August reporting season time to revisit price forecasts for bulk commodities and industrial metals and the results are clearly on display, with upgrades far outweighing downgrades.

There's no reason to get too excited about a resources come-back just yet, as most changes in ratings represent a switch from negative to neutral, but regardless, one would have to assume that, at the very least, a platform is being put in place for the next wave of buying interest; exact timing unknown.

In the good books

Alumina (AWC) was upgraded to Neutral from Underperform by Credit Suisse. The broker assumes higher aluminium and alumina prices in 2015 and that AWAC cash generation and earnings will rise materially. Hence, the broker's FY15 profit forecasts are raised by 39%.

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