A selection of ratings upgrades and downgrades, target price changes, and commentary for ASX stocks from major research houses for 6 July.
When the big brokers move, the market listens, and stock prices move...
In today's update, BHP is leading the ASX 200 lower, down 1.5% on a downgrade from Credit Suisse; Bluescope Steel (BSL) is down 3% on a downgrade from Morgan Stanley; and The Reject Shop (TRS) is surging 15% on an upgrade to Overweight, and a massive 280% increase in its target price from Morgan Stanley.
| Adbri Limited |
ABC |
JP Morgan downgrades Adbri Limited (ABC) rating from overweight to neutral. |
| Bhp Group Limited |
BHP |
Credit Suisse downgrades Bhp Group Limited (BHP) rating from outperform to neutral. |
| Bionomics Limited |
BNO |
Zacks upgrades Bionomics Limited (BNO) rating from hold to buy. |
| Breville Group Limited |
BRG |
JP Morgan downgrades Breville Group Limited (BRG) rating from neutral to underweight. |
| Bluescope Steel Limited |
BSL |
Morgan Stanley downgrades Bluescope Steel Limited (BSL) rating from equalweight to underweight. Lowers price target from $13.50 to $10. Notes whilst BSL has robust balance sheet, weaker commodity steel spreads will negatively impact earnings from US operations. |
| Coca-Cola Amatil Limited |
CCL |
Zacks lowers Coca-Cola Amatil Limited (CCL) rating from hold to sell. |
| Cleanaway Waste Management Limited |
CWY |
Morgan Stanley initiates overweight rating on Cleanaway Waste Management Limited (CWY). Initiates $2.45 price target. Predicts stronger growth after COVID-19. Sees CWY as a market leader in the essential waste management industry. |
| Cynata Therapeutics Limited |
CYP |
Zacks downgrades Cynata Therapeutics Limited (CYP) rating from buy to hold. |
| Domino'S Pizza Enterprises Limited |
DMP |
JP Morgan lowers Domino'S Pizza Enterprises Limited (DMP) rating from overweight to neutral. |
| South32 Limited |
S32 |
Zacks upgrades South32 Limited (S32) rating from sell to hold. |
| Sims Limited |
SGM |
Credit Suisse lowers Sims Limited (SGM) rating from outperform to neutral. |
| The Reject Shop Limited |
TRS |
Morgan Stanley raises The Reject Shop Limited (TRS) rating from equalweight to overweight. Raises price target from $2.60 to $10. Notes stock is undervalued on the basis of large Australian footprint, management strategic changes, lowering costs. |
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