Changes to broker ratings in the past week
Upgrades and downgrades by the eight brokers in the FNArena database were finely balanced in the past week. Nine ratings went up and nine went down. The net result was only a minor modification to Total Buy ratings in the FNArena database, which now stand at 44.76% versus 44.79% last week.
There were two stocks that boasted more than one upgrade over the period. Both Premier Investments (PMV) and WDS Limited (WDS) enjoyed two upgrades apiece. Premier was upgraded to Buy by both Citi and Deutsche Bank post its full-year result last week, with both brokers positive about the cost cutting work the company has achieved.
WDS is covered by only two brokers in the FNArena database and both of them lifted their recommendation to Buy on news the company has won a new contract with Origin Energy's (ORG) Asia-Pacific LNG project (APLNG).