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Australian Broker Moves 18 January

Carl Capolingua Carl Capolingua 18/01/2021
Australian Broker Moves 18 January Australian Broker Moves 18 January
Australian Broker Moves 18 January Carl Capolingua
The big brokers have run the ruler over a number of key stocks over the last 24 hours.

They reacted positively to a December trading update from Whitehaven Coal (WHC) despite the fact the company struggled with production due to a number of unforeseen operational issues.

Citigroup has upgraded their crude oil price estimates for 2021, increasing their expected average price from US$52/barrel to US$59/barrel. This triggered a number of price target and ratings changes for oil and gas producers, with Senex Energy (SXY) remaining the broker's top pick in the sector.

We'll investigate these moves and more in today's Australian Broker Moves.
 
Company Name Ticker Broker Move
AGL Energy AGL Morgan Stanley lowers AGL Energy (AGL) price target from $14.14 to $10.68. Retains underweight rating.  
Auckland International Airport AIA Credit Suisse lowers Auckland International Airport (AIA) price target from $6.95 to $5.95. Retains underperform rating. (Prices in NZD as per NZX listing)
Ampol ALD Credit Suisse lowers Ampol (ALD) price target from $29.37 to $27.71. Retains neutral rating.  
Ampol ALD UBS lowers Ampol (ALD) price target from $33.70 to $33.50. Retains buy rating.  
BHP Group BHP JP Morgan retains overweight rating on BHP Group (BHP).   
BHP Group BHP Macquarie retains outperform rating on BHP Group (BHP). Retains $51.00 price target.  
BHP Group BHP Morgan Stanley retains overweight rating on BHP Group (BHP). Retains $46.25 price target.  
Beach Energy BPT Citi downgrades Beach Energy (BPT) rating from buy to neutral. Lowers price target from $1.980 to $1.940. Upgrades crude oil price expectations for 2021 from US$52/brl to $US59/brl. Ratings downgrade due feeling stock may already be fully valued by market.
City Chic Collective CCX Morgan Stanley raises City Chic Collective (CCX) price target from $3.55 to $4.50. Retains overweight rating. Upgrades expected earnings for FY21 by 8%. Sees higher organic growth. Online prospective.
Fisher & Paykel Healthcare Corporation FPH Credit Suisse upgrades Fisher & Paykel Healthcare Corporation (FPH) rating from underperform to neutral. Raises price target from $31.00 to $33.50. (Prices in NZD as per NZX listing)
Genetic Technologies GTG Zacks downgrades Genetic Technologies (GTG) rating from hold to sell.   
Kazia Therapeutics KZA Zacks downgrades Kazia Therapeutics (KZA) rating from buy to hold.   
Liberty Financial Group LFG Macquarie initiates outperform rating on Liberty Financial Group (LFG). Initiates $8.27 price target.  
Lendlease Group LLC Morgan Stanley raises Lendlease Group (LLC) price target from $13.55 to $13.98. Retains equalweight rating.  
Origin Energy ORG Citi raises Origin Energy (ORG) price target from $6.55 to $6.78. Retains buy rating. Upgrades crude oil price expectations for 2021 from US$52/brl to $US59/brl. Expected earnings and therefore price target for stock adjusted.
Oil Search OSH Citi raises Oil Search (OSH) price target from $4.00 to $4.45. Retains neutral rating. Upgrades crude oil price expectations for 2021 from US$52/brl to $US59/brl. Expected earnings and therefore price target for stock adjusted.
OZ Minerals OZL Macquarie retains outperform rating on OZ Minerals (OZL). Retains $22.00 price target.  
Pendal Group PDL Citi raises Pendal Group (PDL) price target from $6.40 to $6.80. Retains neutral rating.  
Pendal Group PDL Credit Suisse raises Pendal Group (PDL) price target from $5.90 to $6.50. Retains neutral rating.  
Premier Investments PMV Macquarie raises Premier Investments (PMV) price target from $24.22 to $28.00. Retains outperform rating. Broker is impressed with H1 trading update. Notes H1 income ahead of all of FY20, and well ahead of broker's own estimates.
Rio Tinto RIO JP Morgan retains overweight rating on Rio Tinto (RIO).   
Rio Tinto RIO Macquarie retains outperform rating on Rio Tinto (RIO). Retains $127.00 price target.  
Resolute Mining RSG Citi lowers Resolute Mining (RSG) price target from $1.100 to $1.000. Retains buy rating.  
Resolute Mining RSG Macquarie lowers Resolute Mining (RSG) price target from $1.050 to $1.000. Retains outperform rating.  
Santos STO Citi downgrades Santos (STO) rating from buy to neutral. Raises price target from $7.34 to $7.58. Upgrades crude oil price expectations for 2021 from US$52/brl to $US59/brl. Expected earnings and therefore price target for stock adjusted. Ratings downgrade due to revision lower of expected reserves.
Senex Energy SXY Citi raises Senex Energy (SXY) price target from $0.430 to $0.440. Retains buy rating. Upgrades crude oil price expectations for 2021 from US$52/brl to $US59/brl. Expected earnings and therefore price target for stock adjusted. Co. is broker's top pick in sector.
Whitehaven Coal WHC Citi raises Whitehaven Coal (WHC) price target from $3.38 to $3.53. Retains buy rating. Reacts positively to December quarter trading update.
Whitehaven Coal WHC Credit Suisse retains outperform rating on Whitehaven Coal (WHC). Retains $1.950 price target. Anticipates rebound in coal prices will continue to support improving cashflows and earnings growth outlook. 
Whitehaven Coal WHC Macquarie upgrades Whitehaven Coal (WHC) rating from underperform to neutral. Raises price target from $1.300 to $1.800. Considers unexpected operational issues reported during December quarter against expected ramp up in production in H2. 
Whitehaven Coal WHC Morgan Stanley raises Whitehaven Coal (WHC) price target from $1.900 to $2.15. Retains overweight rating. Expects rising coal prices to bolster earnings in H2.
Whitehaven Coal WHC UBS retains buy rating on Whitehaven Coal (WHC). Retains $2.15 price target. After assessing December quarter trading update, notes in line with expectations.
Woodside Petroleum WPL Citi raises Woodside Petroleum (WPL) price target from $22.36 to $25.62. Retains neutral rating. Upgrades crude oil price expectations for 2021 from US$52/brl to $US59/brl. Expected earnings and therefore price target for stock adjusted. Risks declining.
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

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Meet our contributors
Mohammed Zidan
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Mohamed Zidan
Chief Market Strategist, Dubai

Mohamed Zidan is a chief market strategist in Dubai and CFA Level III candidate. He reports to London office and has more than eight years of experience focusing on Forex, Commodities, Indices and global economic developments as well as central bank policies and intermarket analysis. worked as FX Analyst, and Strategist in several different organizations and for various departments. He holds a bachelor’s degree from Cairo University in Egypt. Mohamed Zidan is a regular guest on several major TV networks such as; CNBC Arabia, Fran24 Arabic, Alarabiya , Dubai TV, Sama Dubai, Skynews Arabia, Saudi National News, and Egypt National news.

Zidan presents insight to the markets movements, holds open discussions and relays possibilities related to the world’s financial market and economies.

Mohamed Zidan has been invited as a guest speaker for several international seminars. Zidan provides daily and weekly outlook for the markets. His experience ranges from currencies, commodities, stocks and options. he applies a top-down, global macro approach combined with price action to generate trade ideas and anticipate the next move.

Victor Golovtchenko
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Victor Golovtchenko
Global Macro Analyst, Sofia

Victor Golovtchenko has been analysing and trading foreign exchange markets since 2004, and is actively involved in the online media space since 2014. His tenure as a Senior Editor at a major brokerage industry news outlet was followed with a breakthrough into the financial news space with the brand new TradeStar website.

As an affectionate macro-focused analyst, he has an integrated framework to look at financial markets as a whole, identifying gaps between currencies, stocks, bonds, and other asset classes to get a core complete picture of the macroeconomic environment.

Fawad Razaqzada
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Fawad Razaqzada
Market Analyst, London

Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms. He leverages years of market knowledge to provide retail and professional traders worldwide with succinct fundamental & technical analysis. Fawad also offers trading education to help shorten the learning curves of developing traders.
 
His colleagues consider him an expert at reading price action on the charts. This together with his deep understanding of economics and fundamental analysis, and trading experience, puts him in a great position to forecast short term price movements. Fawad covers a wide range of markets, including FX, commodities, stock indices and cryptocurrencies and his comments are regularly quoted by the leading financial publications such as Reuters and Market Watch. In addition to ThinkMarkets, Fawad also provides analysis and premium trade signals on his own website at TradingCandles.com.
 
 

Carl Capolingua
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Carl Capolingua
Market Analyst, Melbourne

Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions. Specialising in Australian and US stock markets in particular, Carl uses a top-down approach to assess the global macro picture before using both technical and fundamental techniques to select stocks. He regularly appears as an expert commentator on a number of media outlets throughout the Asia-Pacific region.
 
 
 

Mohammed Zidan
Mohamed Zidan
He has more than eight years of experience focusing on Forex, Commodities, Indices and global economic developments as well as central bank policies and intermarket analysis.
Victor Golovtchenko
Victor Golovtchenko
Victor Golovtchenko has been trading on the foreign exchange markets since 2004, and is actively involved in the online media space since 2014. His tenure as a Senior Editor follows his role with TradeStar.
Fawad Razaqzada
Fawad Razaqzada
Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms.
Carl Capolingua
Carl Capolingua
Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions.

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Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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