Date |
Company Name |
Ticker |
Broker Move |
14-Jan |
The A2 Milk Company |
A2M |
Goldman Sachs downgrades The A2 Milk Company (A2M) rating from buy to hold. Lowers price target from $18.15 to $12.09. |
14-Jan |
Adbri |
ABC |
Morgan Stanley downgrades Adbri (ABC) rating from overweight to underweight. Lowers price target from $3.60 to $3.30. |
14-Jan |
Audinate Group |
AD8 |
Morgan Stanley raises Audinate Group (AD8) price target from $7.50 to $9.00. Retains overweight rating. |
14-Jan |
AGL Energy |
AGL |
Macquarie raises AGL Energy (AGL) price target from $11.43 to $11.63. Retains underperform rating. |
14-Jan |
Altium |
ALU |
Citi lowers Altium (ALU) price target from $36.50 to $32.20. Retains neutral rating. Considers H1 trading update. Notes most likely scenario is co. has passed earnings low point and growth can return in 2021 as pandemic impacts subside. Still, adjustments to fair value as a result of amended expectations sees price target decline. |
14-Jan |
Altium |
ALU |
Jefferies lowers Altium (ALU) price target from $39.80 to $32.00. Retains hold rating. Reacts negatively to H1 trading update. Notes revenue forecasts lower than expected, now expects H2 to deteriorate further due to poor Europe performance. Decline in NEXUS sales concerning. |
13-Jan |
Altium |
ALU |
Credit Suisse lowers Altium (ALU) price target from $42.00 to $35.00. Retains outperform rating. After assessing H1 2021 results, notes that COVID-19 impact continues to undermine performance. Whilst co. assures H2 pipeline is strong, broker downgrades earnings estimates as risks remain elevated. |
13-Jan |
Altium |
ALU |
Macquarie lowers Altium (ALU) price target from $35.00 to $31.00. Retains neutral rating. Cites ongoing negative impact of pandemic and China licensing issues as key reasons for disappointing H1 results. Potential recovery in H2, but weakness in operating environment deserves earnings downgrade - lower price target. |
13-Jan |
Amcor |
AMC |
UBS raises Amcor (AMC) price target from $2.40 to $3.15. Retains neutral rating. |
14-Jan |
Australia and New Zealand Banking Group |
ANZ |
Credit Suisse raises Australia and New Zealand Banking Group (ANZ) price target from $26.20 to $28.00. Retains outperform rating. Anticipates dividend recovery in FY21 with potential capital management as soon as FY22. Co. is preferred pick in sector. |
14-Jan |
Afterpay |
APT |
Morgan Stanley raises Afterpay (APT) price target from $120.00 to $136.00. Retains overweight rating. Anticipates strong H1 performance as downloads of co's app continue to surge in US and UK. Concerned about strong AUD. |
13-Jan |
ARB Corporation |
ARB |
Citi retains buy rating on ARB Corporation (ARB). Retains $34.25 price target. No change to rating or target after reviewing H1 trading update. Sees strong momentum in sales as older vehicles are remaining on road, second hand vehicle sales up due to pandemic induced changes in consumer behaviour. US operations a highlight. |
13-Jan |
ARB Corporation |
ARB |
Credit Suisse raises ARB Corporation (ARB) price target from $30.25 to $33.30. Retains neutral rating. Broker is impressed with H1 trading update, but is cautious on rating given unsure if sales bump from pandemic spending pattern shift is sustainable. |
13-Jan |
ARB Corporation |
ARB |
Macquarie raises ARB Corporation (ARB) price target from $29.50 to $33.50. Retains neutral rating. Cites better than expected H1 trading update. Notes strong momentum in sales, improving margins and currency rate tailwinds. Remains cautious about longer term sustainability of earnings growth. |
13-Jan |
Accent Group |
AX1 |
Morgan Stanley downgrades Accent Group (AX1) rating from overweight to equalweight. Raises price target from $2.00 to $2.60. |
14-Jan |
Boral |
BLD |
Morgan Stanley upgrades Boral (BLD) rating from equalweight to overweight. Raises price target from $4.80 to $5.80. |
14-Jan |
Bluescope Steel |
BSL |
Macquarie raises Bluescope Steel (BSL) price target from $20.25 to $21.20. Retains outperform rating. Cites strong earnings growth momentum. |
14-Jan |
Bluescope Steel |
BSL |
Morgan Stanley raises Bluescope Steel (BSL) price target from $18.50 to $21.00. Retains equalweight rating. |
14-Jan |
Commonwealth Bank of Australia |
CBA |
Credit Suisse raises Commonwealth Bank of Australia (CBA) price target from $74.80 to $82.00. Retains neutral rating. Anticipates dividend recovery in FY21 with potential capital management as soon as FY22. |
14-Jan |
Commonwealth Bank of Australia |
CBA |
Zacks downgrades Commonwealth Bank of Australia (CBA) rating from buy to hold. |
13-Jan |
Challenger |
CGF |
UBS raises Challenger (CGF) price target from $6.85 to $7.70. Retains buy rating. |
14-Jan |
Chalice Mining |
CHN |
Macquarie raises Chalice Mining (CHN) price target from $5.30 to $5.40. Retains outperform rating. |
14-Jan |
Dalrymple BAY Infrastructure/Notes |
DBI |
Citi initiates hold rating on Dalrymple BAY Infrastructure/Notes (DBI). Initiates $2.42 price target. |
13-Jan |
G.U.D. Holdings |
GUD |
Citi raises G.U.D. Holdings (GUD) price target from $14.30 to $14.40. Retains buy rating. |
14-Jan |
Incitec Pivot |
IPL |
Morgan Stanley upgrades Incitec Pivot (IPL) rating from equalweight to overweight. Raises price target from $2.45 to $2.75. |
14-Jan |
James Hardie Industries |
JHX |
Morgan Stanley raises James Hardie Industries (JHX) price target from $42.00 to $43.00. Retains overweight rating. |
13-Jan |
Lovisa Holdings |
LOV |
Citi lowers Lovisa Holdings (LOV) price target from $11.90 to $11.45. Retains neutral rating. |
14-Jan |
Mincor Resources |
MCR |
Macquarie raises Mincor Resources (MCR) price target from $1.200 to $1.400. Retains outperform rating. |
13-Jan |
Magellan Financial Group |
MFG |
UBS lowers Magellan Financial Group (MFG) price target from $63.75 to $52.00. Retains neutral rating. |
13-Jan |
Medibank Private |
MPL |
UBS raises Medibank Private (MPL) price target from $2.95 to $3.20. Retains neutral rating. |
14-Jan |
National Australia Bank |
NAB |
Credit Suisse raises National Australia Bank (NAB) price target from $22.00 to $26.00. Retains outperform rating. Anticipates dividend recovery in FY21 with potential capital management as soon as FY22. |
13-Jan |
NIB Holdings |
NHF |
UBS raises NIB Holdings (NHF) price target from $5.85 to $6.15. Retains neutral rating. |
14-Jan |
Nickel Mines |
NIC |
Macquarie raises Nickel Mines (NIC) price target from $1.200 to $1.400. Retains outperform rating. Cites increase in nickel price expectations. Result is significant earnings upside. |
14-Jan |
Orora |
ORA |
Morgan Stanley downgrades Orora (ORA) rating from overweight to equalweight. Lowers price target from $3.40 to $3.00. |
14-Jan |
Origin Energy |
ORG |
Macquarie raises Origin Energy (ORG) price target from $5.47 to $5.58. Retains neutral rating. |
14-Jan |
Panoramic Resources |
PAN |
Macquarie raises Panoramic Resources (PAN) price target from $0.130 to $0.140. Retains neutral rating. |
14-Jan |
Pact Group Holdings |
PGH |
Morgan Stanley downgrades Pact Group Holdings (PGH) rating from equalweight to underweight. Retains $2.60 price target. |
14-Jan |
Premier Investments |
PMV |
Citi raises Premier Investments (PMV) price target from $20.60 to $25.00. Retains neutral rating. Reacts positively to H1 trading update. Well ahead of expectations. Please with sales momentum and improving margins. |
14-Jan |
Premier Investments |
PMV |
Credit Suisse raises Premier Investments (PMV) price target from $20.39 to $23.09. Retains neutral rating. Broker is impressed with H1 trading update. Notes, online sales performance particularly pleasing. Only negative is likely delay to Smiggles recovery. |
14-Jan |
Premier Investments |
PMV |
Morgan Stanley retains equalweight rating on Premier Investments (PMV). Retains $18.40 price target. Says whilst H1 trading update to H1 income well ahead of expectations, is concerned that recent pandemic-induced momentum may decline in FY22. |
14-Jan |
Premier Investments |
PMV |
UBS downgrades Premier Investments (PMV) rating from buy to neutral. Raises price target from $20.50 to $24.50. Notes H1 trading update indicates earnings well ahead of broker's expectations. Is concerned however this is already priced in. |
14-Jan |
Readytech Holdings |
RDY |
Macquarie raises Readytech Holdings (RDY) price target from $2.40 to $2.85. Retains outperform rating. |
14-Jan |
Rio Tinto |
RIO |
Deutsche Bank downgrades Rio Tinto (RIO) rating from buy to hold. Raises price target from $5100.00 to $6000.00. (Prices in GBP as per London Stock Exchange listing). Whilst broker sees supply in iron ore market remaining tight beyond 2021, marginal producers and new projects will bolster supply, and along with slowing demand, will cause a prices to normalise through H2 2021 and 2022. |
13-Jan |
Rio Tinto |
RIO |
Morgan Stanley raises Rio Tinto (RIO) price target from $113.50 to $116.00. Retains equalweight rating. |
14-Jan |
Reliance Worldwide Corporation |
RWC |
Morgan Stanley lowers Reliance Worldwide Corporation (RWC) price target from $4.00 to $3.70. Retains underweight rating. |
14-Jan |
Sims |
SGM |
Macquarie raises Sims (SGM) price target from $11.60 to $16.40. Retains outperform rating. |
14-Jan |
Sims |
SGM |
Morgan Stanley raises Sims (SGM) price target from $12.00 to $15.50. Retains equalweight rating. |
14-Jan |
Telstra Corporation |
TLS |
Macquarie raises Telstra Corporation (TLS) price target from $3.50 to $4.00. Retains outperform rating. Anticipates value can be unlocked from asset sales. |
14-Jan |
Westpac Banking Corporation |
WBC |
Credit Suisse raises Westpac Banking Corporation (WBC) price target from $20.30 to $22.50. Retains outperform rating. Anticipates dividend recovery in FY21 with potential capital management as soon as FY22. |
14-Jan |
Western Areas |
WSA |
Macquarie raises Western Areas (WSA) price target from $2.80 to $3.30. Retains outperform rating. |