In the good books
Brambles (BXB) Upgraded to Neutral from Underperform by Credit Suisse B/H/S: 2/6/0
While there are challenges ahead, Credit Suisse believes much of the downside risk is now priced into the shares. Rating is upgraded to Neutral from Underperform. Target is $8.90.
Competition in the US remains of concern to the broker, and there are not yet signs the whitewood pallet market is improving. While underlying demand for consumer staples is weak, the comparables are expected to get easier in November.