A selection of ratings upgrades and downgrades, target price changes, and commentary for ASX stocks from major research houses for 29 June.
A recent trading update for online education services provider 3P Learning (3PL) has caught brokers' attention, and Qantas Airways (QAN) continues to attract analysis after its announcement last week to cut staff, costs, and to conduct a $1.3 billion placement.
| 3P Learning Limited.. |
3PL |
RBC Capital Markets upgrades 3P Learning Limited.. (3PL) rating from equalweight to overweight. Raises price target from $0.86 to $1.10. deal to supply Mathletics product/services to National Ministry of Education in the Middle East is key to FY21 revenue and earnings, and shifts the risk-reward materially on stock. |
| 3P Learning Limited.. |
3PL |
Morgan Stanley raises 3P Learning Limited.. (3PL) rating from equalweight to overweight. Raises price target from to . |
| Altium Limited |
ALU |
Jefferies initiates buy rating on Altium Limited (ALU). Predicts company can achieve its target of 100k subscribers in FY25. Agrees with decision to offer price concessions to attract new customers. COVID-19 has had an impact on earnings, but expectes EPS growth to resume from FY21 onwards. |
| Csl Limited |
CSL |
Macquarie lowers Csl Limited (CSL) price target from $302 to $300.50. Retains neutral rating. Broker is concerned about implications of lower plasma collections impact on FY21 earnings. |
| Ebos Group Limited |
EBO |
Citi upgrades Ebos Group Limited (EBO) rating from buy to neutral. Raises price target from $23.50 to $24. Predicts company stands to benefit from the new Community Pharmacy Agreement (CPA). |
| Galaxy Resources Limited |
GXY |
Credit Suisse downgrades Galaxy Resources Limited (GXY) rating from outperform to neutral. Lowers price target from $1.50 to $0.84. Notes likely weakening demand for lithium. |
| Qantas Airways Limited |
QAN |
Morningstar lowers Qantas Airways Limited (QAN) price target from $4.70 to $4.20. |
| Qantas Airways Limited |
QAN |
Credit Suisse raises Qantas Airways Limited (QAN) price target from $2.20 to $3.00. Retains underperform rating. Notes the recovery plan is sensible but not without risk. |
| Sigma Healthcare Limited |
SIG |
Citi upgrades Sigma Healthcare Limited (SIG) rating from buy to neutral. Raises price target from $0.70 to $0.75. Expects company stands to benefit from the new Community Pharmacy Agreement (CPA). |
| Sydney Airport |
SYD |
RBC Capital Markets lowers Sydney Airport (SYD) price target from $7.00 to $6.50. Downgrades passenger number estimates as pick up in international travel likely has further moved into the distance. |
| Treasury Wine Estates Limited |
TWE |
UBS retains buy rating on Treasury Wine Estates Limited (TWE). Retains $14 price target. Says near-term risks are outweighed by the longer-term value. |
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