| Agl Energy Limited. |
AGL |
Macquarie downgrades Agl Energy Limited. (AGL) rating from neutral to underperform. Raises price target from $15.87 to $15.91. Notes Alcoa contract is nearing expiry. Questions co's pricing power. |
| Appen Limited |
APX |
RBC Capital Markets retains outperform rating on Appen Limited (APX). Cites limited earnings risk, likely to benefit from increased adoption of co's products as trends change over next 12 months. Expects +35% revenue growth in H120. |
| Beach Energy Limited |
BPT |
Credit Suisse raises Beach Energy Limited (BPT) price target from $1.73 to $1.79. Retains outperform rating. Broker believes BPT offers long term value. |
| Csl Limited |
CSL |
UBS lowers Csl Limited (CSL) price target from $335 to $331. Retains buy rating. Predicts 20% decline on average April-September 20 in plasma collection in US, and then zero growth until March 21. |
| Downer Edi Limited |
DOW |
UBS raises Downer Edi Limited (DOW) price target from $3.88 to $4.20. Retains neutral rating. Expects dividend to remain suspended for FY20, but to resume in FY21. Cites covid-19 lockdowns. |
| Evolution Mining Limited |
EVN |
Citi raises Evolution Mining Limited (EVN) price target from $5.20 to $5.60. |
| Evolution Mining Limited |
EVN |
Citi downgrades Evolution Mining Limited (EVN) rating from neutral to sell. Raises price target from $5.20 to $5.60. Cites recent price movement's impact on value. |
| Goodman Group |
GMG |
Citi downgrades Goodman Group (GMG) rating from buy to neutral. Lowers price target from $18.50 to $16.50. Broker believes recent price appreciation limits upside. |
| Megaport Limited |
MP1 |
RBC Capital Markets retains outperform rating on Megaport Limited (MP1). Cites limited earnings risk, likely to benefit from increased adoption of co's products as trends change over next 12 months. |
| Newcrest Mining Limited |
NCM |
Citi downgrades Newcrest Mining Limited (NCM) rating from neutral to neutral. Raises price target from $35 to $37. Says recent price appreciation limits upside. |
| Northern Star Resources Ltd |
NST |
Citi raises Northern Star Resources Ltd (NST) price target from $14.90 to $16.30. |
| Netwealth Group Limited |
NWL |
Credit Suisse raises Netwealth Group Limited (NWL) price target from $8.30 to $8.45. Retains underperform rating. Says June quarter inflows were ahead of guidance as pleasing, but forecasts margin pressure in FY21. Price appreciation suggests little upside from here. |
| Netwealth Group Limited |
NWL |
Macquarie raises Netwealth Group Limited (NWL) price target from $5.78 to $6.80. Retains underperform rating. Notes strong performance, but share price appreciation provides opportunity to take profits given future uncertainty. |
| Netwealth Group Limited |
NWL |
Morgans raises Netwealth Group Limited (NWL) price target from $8.20 to $8.90. Retains hold rating. Sees possible 16% growth in earnings in FY21 on strong inflows. |
| Nextdc Limited |
NXT |
RBC Capital Markets retains outperform rating on Nextdc Limited (NXT). Cites limited earnings risk, likely to benefit from increased adoption of co's products as trends change over next 12 months. Expects 17% EBITDA growth in FY21. |
| Orora Limited |
ORA |
Citi retains neutral rating on Orora Limited (ORA). Retains $2.80 price target. Broker believes growth highly uncertain due to lower growth in key markets Australia and North America. Notes balance sheet strength. |
| Pro Medicus Limited |
PME |
RBC Capital Markets retains outperform rating on Pro Medicus Limited (PME). Cites limited earnings risk, likely to benefit from increased adoption of co's products as trends change over next 12 months. |
| Peet Limited |
PPC |
Macquarie downgrades Peet Limited (PPC) rating from outperform to neutral. Lowers price target from $1.04 to $0.95. Cites delays in capital expenditure. |
| Pushpay Holdings Limited |
PPH |
RBC Capital Markets retains outperform rating on Pushpay Holdings Limited (PPH). Cites limited earnings risk, likely to benefit from increased adoption of co's products as trends change over next 12 months. Expects +51% revenue growth in H121. |
| Perseus Mining Limited |
PRU |
Citi downgrades Perseus Mining Limited (PRU) rating from buy to neutral. Raises price target from $1.40 to $1.60. Cites recent price appreciation limits upside. |
| Rio Tinto Limited |
RIO |
Macquarie retains outperform rating on Rio Tinto Limited (RIO). Retains $112 price target. Expects higher iron ore prices to provide upside in earnings momentum. |
| Rio Tinto Limited |
RIO |
Morgan Stanley retains equalweight rating on Rio Tinto Limited (RIO). Retains $93.50 price target. |
| Saracen Mineral Holdings Limited |
SAR |
Citi downgrades Saracen Mineral Holdings Limited (SAR) rating from buy to neutral. Raises price target from $5.30 to $6.10. Cites recent price appreciation limits upside. |
| St Barbara Limited |
SBM |
Citi raises St Barbara Limited (SBM) price target from $3 to $3.60. |
| Treasury Wine Estates Limited |
TWE |
Citi retains neutral rating on Treasury Wine Estates Limited (TWE). Retains $10.60 price target. Notes commentary on China is encouraging, but deterioration in U.S. earnings indicates no meaningful rebound in FY21FY20 EBIT. Co's outlook is 7% below Citi forecasts at the mid-point. |
| Treasury Wine Estates Limited |
TWE |
Jefferies raises Treasury Wine Estates Limited (TWE) price target from $10 to $10.50. Retains hold rating. Describes US trading update as worse than expected. Ongoing Sino-Australian tensions could hit TWE's earnings from Asia. |
| Treasury Wine Estates Limited |
TWE |
Citi raises Treasury Wine Estates Limited (TWE) price target from $10.60 to $10.90. Retains neutral rating. Notes cautious on stock until improvement in China demand. |
| Treasury Wine Estates Limited |
TWE |
Credit Suisse raises Treasury Wine Estates Limited (TWE) price target from $9.35 to $10.45. Retains neutral rating. Expects 6% improvement in estimates for FY21, and 2% in FY22. |
| Treasury Wine Estates Limited |
TWE |
Macquarie raises Treasury Wine Estates Limited (TWE) price target from $9.30 to $11.50. Upgrades rating from underperform to neutral. Notes oversupply in the US to continue, sees some improvement in China. |
| Treasury Wine Estates Limited |
TWE |
Morgan Stanley retains equalweight rating on Treasury Wine Estates Limited (TWE). Retains $12.50 price target. Notes uncertain outlook. |
| Treasury Wine Estates Limited |
TWE |
Morgans raises Treasury Wine Estates Limited (TWE) price target from $10.50 to $11.55. Retains hold rating. Cites uncertainty with respect to recovery in key markets, sees only modest earnings growth in FY21. |
| Treasury Wine Estates Limited |
TWE |
UBS downgrades Treasury Wine Estates Limited (TWE) rating from buy to neutral. Lowers price target from $14.80 to $11.80. Expects margins to remain under pressure. |
| Vocus Group Limited |
VOC |
UBS upgrades Vocus Group Limited (VOC) rating from neutral to buy. Lowers price target from $3.85 to $3.60. Cites recent share price declines as improving value proposition. |