Overall activity from stockbroking analysts has quietened down a lot in September as the seasonal lull in between a busy reporting season and the upcoming AGM season is often taken as an opportunity to chill out and maybe even enjoy a short holiday.
We find positive movements for TPG Telecom in anticipation of yet another solid financial result, and as analysts start incorporating contribution and synergies from the acquired iiNet operations. Upmarket retailer, OrotonGroup, attracted one upgrade post its results.
In the good books
BEACH ENERGY LIMITED (BPT) was upgraded to Outperform from Neutral by Macquarie Buy/Hold/Sell: 3/3/1 Macquarie has cut its Aussie forecasts by 8-9% to US63c in 2016, US67c in 2017 and US75c long term. Domestic oil and gas producers reporting in Aussie see a net 37% earnings forecast upgrade as a result, albeit for some this is offset by US dollars costs. The broker's sector multiple has risen as a result, as has the broker's rating for Beach.