Buy, Sell, Hold – what the brokers say

Founder of FNArena
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In the good books

GREENCROSS LIMITED (GXL) Upgrade to Buy from Neutral by UBS B/H/S: 1/1/1

UBS notes feedback from the industry in pet retailing has signalled there is some trading down in food products and weaker gross margins.

The broker cuts its sales growth expectations for the Australasian retail division for the second half to 3.3% from 4.2%, and lowers divisional gross margins forecasts to a -50 basis points contraction.

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