In a relatively quieter week for rating changes, brokers in the FNArena database upgraded five recommendations while downgrading a further nine, extending 2012's trend in favour of more downgrades. Total Buy ratings currently stand at 50.57%.
Changes to stockbroker ratings in the past week
Commonwealth Bank (CBA) was among the upgrades with Deutsche Bank raising it to Buy. The change reflects better relative value in the stock compared to the other major banks as CBA's traditional premium to the sector has been eroded somewhat in recent weeks.