Changes to stockbroker recommendations in the past week
The past week has been a busy period for changes in broker ratings as the eight brokers in the FNArena database have upgraded recommendations on 12 stocks while downgrading 14. This means the trend of more downgrades than upgrades continues. Total Buy ratings now stand at 50.59%.
The only stock receiving multiple upgrades was Energy Resources of Australia (ERA), with both BA Merrill Lynch and UBS raising it to Buy. The upgrades reflect a more positive view post an update by the company on the progress of operations at Ranger.