In the good books
Credit Suisse has upgraded Goodman Group (GMG) to Neutral from Underperform. Buy/Hold/Sell 3/4/0 Credit Suisse has used a sector update on A-REITs to upgrade its rating for Goodman Group. Rolling forward its valuation modelling has led to a higher price target; $6.11 versus $5.91 previously. Given the share price has tumbled some 13% in recent weeks, the stockbroker thinks it's time for an upgrade.
Citi upgraded Premier Investment (PMV) to Neutral from Sell. Buy/Hold/Sell 1/5/0 Citi saw a "solid" result. More importantly, the rollout of success story Smiggle is to accelerate this financial year. Plus management is handling the foreign exchange headwinds well. Earnings forecasts have been pared back, but only slightly so on higher cost assumptions (from the roll-out of Smiggle).
In the not-so-good books
Credit Suisse has downgraded Evolution Mining (EVN) to Neutral from Outperform. Buy/Hold/Sell 4/2/0 The latest quarterly update on commodities prices has simply delivered yet more negative revisions, with the analysts exclaiming "There is little to like about most commodities over the medium-term, just relative degrees of unloveliness". The subsequent update on the copper and gold sector has triggered a few changes in rating. Credit Suisse retains a relatively flat outlook for gold prices, but has now incorporated even lower prices for copper.