Australian Broker Moves 29 July

A selection of ratings upgrades and downgrades, target price changes, and commentary for ASX stocks from major research houses for 29 July.

In the big brokers' spotlights today Credit Corp Group Limited (CCP), G.U.D. Holdings Limited (GUD), Regis Resources Limited (RRL) to name just a few. Each of these companies have been in the news lately.

Also getting some attention, Karoon Energy (KAR) after it reported a significant improvement in the terms of its Bauna acquisition. Morgan Stanley upped its price target by 25% to $1.14. The stock is presently trading around $0.74, so that leaves some nice upside if they're right.

Ardent Leisure Group Limited	ALG	Citi retains buy rating on Ardent Leisure Group Limited (ALG). Retains $1.23 price target. Describes ALG as its top pick in sector.
Credit Corp Group Limited	CCP	Macquarie raises Credit Corp Group Limited (CCP) price target from $19.30 to $20.70. Retains outperform rating. Broker likes how the company is positioned, sees positive outlook.
Credit Corp Group Limited	CCP	Morgans raises Credit Corp Group Limited (CCP) price target from $19.10 to $21.25. Retains add rating. Describes recent earnings result as solid. Long term earnings growth potential is appealing.
Charter Hall Retail Reit	CQR	Jefferies upgrades Charter Hall Retail Reit (CQR) rating from hold to buy. Cites recent share price underperformance and a strong balance sheet post capital raise.
Emeco Holdings Limited	EHL	Macquarie raises Emeco Holdings Limited (EHL) price target from $1.40 to $1.50. Retains outperform rating. Cites attractive valuation.
Event Hospitality And Entertainment Ltd	EVT	Citi retains neutral rating on Event Hospitality And Entertainment Ltd (EVT). Retains $9.75 price target. Warns that longer-term structural risks from consumers moving to subscription and premium video on demand. Expects larger loss than market is pricing in.
Gpt Group	GPT	Jefferies upgrades Gpt Group (GPT) rating from hold to buy. Cites strong balance sheet and growing industrial exposure.
G.U.D. Holdings Limited	GUD	Citi downgrades G.U.D. Holdings Limited (GUD) rating from buy to neutral. Lowers price target from $12.85 to $12.75. Says does not expect double digit auto growth seen in July 2020 to be sustainable; forecasts growth to soften to 5% over 1H21.
G.U.D. Holdings Limited	GUD	Credit Suisse raises G.U.D. Holdings Limited (GUD) price target from $9.15 to $11.80. Retains neutral rating. Upgrades earnings forecasts for FY21-22. Notes rising costs may be an issue.
G.U.D. Holdings Limited	GUD	UBS raises G.U.D. Holdings Limited (GUD) price target from $9.20 to $11.50. Retains neutral rating. Expects upside in the industry due to structural trends.
Karoon Energy Ltd	KAR	Morgan Stanley raises Karoon Energy Ltd (KAR) price target from $0.84 to $1.14. Retains overweight rating. Broker likes the revised terms of the Bauna deal. Revises NPAT estimates by +A$5m, +A$9m, and +A$7m for FY20, FY21, and FY22.
Medibank Private Limited	MPL	Morgan Stanley lowers Medibank Private Limited (MPL) price target from $2.90 to $2.75. Retains equalweight rating. Blames industry headwinds and uncertainty surrounding covid-19 situation.
Nib Holdings Limited	NHF	Morgan Stanley lowers Nib Holdings Limited (NHF) price target from $5.05 to $4.80. Retains equalweight rating. Blames headwinds from structural changes in industry.
Regis Resources Limited	RRL	Credit Suisse downgrades Regis Resources Limited (RRL) rating from outperform to neutral. Raises price target from $5.50 to $5.90. Cites increase in costs, run up in share price impacting valuation.
Regis Resources Limited	RRL	Macquarie raises Regis Resources Limited (RRL) price target from $4.50 to $4.80. Retains underperform rating. Cites lower than expected production guidance.
Regis Resources Limited	RRL	UBS retains buy rating on Regis Resources Limited (RRL). Retains $6.50 price target.
Regis Resources Limited	RRL	Morgan Stanley retains buy rating on Regis Resources Limited (RRL). Retains $5.65 price target.
Steadfast Group Limited	SDF	Credit Suisse raises Steadfast Group Limited (SDF) price target from $3.50 to $3.75. Retains outperform rating. Notes FY20 earnings guidance was at the top end of expectations.
The Star Entertainment Group Limited	SGR	Macquarie lowers The Star Entertainment Group Limited (SGR) price target from $3.85 to $3.70. Retains outperform rating. Cites improving cash flow, leverage, potential for earnings recovery. Valuation not stretched.
TPG Telecom Limited	TPG	Macquarie resumes neutral rating on TPG Telecom Limited (TPG). Resumes $8.60 price target. Is concerned about subscriber growth momentum.
Temple & Webster Group Ltd	TPW	Macquarie raises Temple & Webster Group Ltd (TPW) price target from $6.70 to $8.80. Retains outperform rating. Notes supportive structural trends. Solid cash balance.
Village Roadshow Limited	VRL	Citi retains buy rating on Village Roadshow Limited (VRL). Retains $2.61 price target. Warns that there are longer-term structural risks from consumers moving to subscription and premium video on demand. Sees pickup in theme park revenue later in year.
Virgin Money Uk Plc	VUK	Macquarie lowers Virgin Money Uk Plc (VUK) price target from $2.15 to $2.10. Retains outperform rating. Cites improving balance sheet, stable margins.