| Australia and New Zealand Banking Group |
ANZ |
Zacks upgrades Australia and New Zealand Banking Group (ANZ) rating from hold to buy. Retains $21.00 price target. |
| Austal |
ASB |
Goldman Sachs retains buy rating on Austal (ASB). Retains $4.35 price target. Anticipates AGM commentary to reflect strong earnings outlook. Reiterates buy. |
| BHP Group |
BHP |
Jefferies retains buy rating on BHP Group (BHP). Retains $45.00 price target. No change to rating or target after reviewing after September quarter production report, but lowers earnings estimates for FY21 by 1.5%. |
| Beach Energy |
BPT |
Citi raises Beach Energy (BPT) price target from $1.910 to $1.980. Retains buy rating. Reviews first quarter production update. Solid performance, but missed expectations slightly. Anticipates upside from upcoming drilling results. |
| Beach Energy |
BPT |
Credit Suisse lowers Beach Energy (BPT) price target from $1.960 to $1.950. Retains outperform rating. Notes first quarter production was in line with expectations. Pricing environment remains challenging, hence adjusts price target, but co. remains attractive pick in sector. |
| Bluescope Steel |
BSL |
Citi raises Bluescope Steel (BSL) price target from $14.00 to $16.00. Retains neutral rating. Reviews first half results. Notes, that whilst pricing in the US continues to improve, Australia likely to remain flat. |
| Bluescope Steel |
BSL |
Credit Suisse raises Bluescope Steel (BSL) price target from $15.55 to $16.95. Retains outperform rating. Describes first half result as a strong one, and shows the quality of the business. Still upside as pricing improves, as most of this result was driven by volume gains. |
| Bluescope Steel |
BSL |
Macquarie raises Bluescope Steel (BSL) price target from $16.20 to $19.05. Retains outperform rating. Reacts positively to first half results. Notes, well above expectations. Expects continued support from fiscal stimulus measures. |
| Bluescope Steel |
BSL |
Morgan Stanley raises Bluescope Steel (BSL) price target from $11.00 to $16.00. Retains equalweight rating. Upgrades expected earnings by 72% in FY21 and 35% in FY22 on better than expected first half result, increased guidance. |
| Bluescope Steel |
BSL |
UBS raises Bluescope Steel (BSL) price target from $13.10 to $15.70. Retains neutral rating. Anticipates structural shifts towards detached housing will continue to support US earnings. |
| CSL |
CSL |
Zacks downgrades CSL (CSL) rating from buy to hold. |
| CSR |
CSR |
Credit Suisse upgrades CSR (CSR) rating from neutral to outperform. Raises price target from $4.10 to $5.30. Expects fiscal stimulus measures to underpin earnings in the short-medium-term. |
| Event Hospitality and Entertainment |
EVT |
Citi lowers Event Hospitality and Entertainment (EVT) price target from $9.35 to $9.20. Retains neutral rating. Expects continued subdued performance/risks to earnings as recovery drags on around the world. |
| Iluka Resources |
ILU |
Citi upgrades Iluka Resources (ILU) rating from neutral to buy. Lowers price target from $10.50 to $6.20. Reviews demerger, adjusts target price to reflect the retained business. Sees upside from revaluation of retained business. |
| Iluka Resources |
ILU |
Credit Suisse downgrades Iluka Resources (ILU) rating from outperform to neutral. Lowers price target from $10.15 to $5.35. Notes retained business has a strong balance sheet. Price lowered to reflect demerger, rating lowered on risks to revaluation risks. |
| Mineral Resources |
MIN |
Macquarie lowers Mineral Resources (MIN) price target from $31.60 to $32.00. Retains outperform rating. Reacts negatively to first quarter production report. Not impressed with lower shipments, but pleased with higher production. Long term value remains intact. |
| Mineral Resources |
MIN |
Morgan Stanley raises Mineral Resources (MIN) price target from $23.40 to $23.50. Retains underweight rating. Notes weaker than expected iron ore performance in quarterly production report. Wonmunna acquisition will increase production, therefore ups target. |
| National Australia Bank |
NAB |
Credit Suisse retains outperform rating on National Australia Bank (NAB). Retains $21.30 price target. No change to rating or target after reviewing trading update and guidance. Lowers expected earnings for FY20 by 3%. |
| National Australia Bank |
NAB |
Macquarie retains underperform rating on National Australia Bank (NAB). Retains $17.50 price target. Considers valuation attractive, but remains concerned about earnings risks in short-medium-term. |
| National Australia Bank |
NAB |
Morgan Stanley retains equalweight rating on National Australia Bank (NAB). Retains $17.50 price target. Expects pandemic hit now well understood and quantified, but could get worse on Melbourne lockdowns. |
| National Australia Bank |
NAB |
UBS retains buy rating on National Australia Bank (NAB). Retains $20.50 price target. Anticipates co. is on top of the current situation and should continue to navigate sensibly through crisis. |
| Qantas Airways |
QAN |
Morgan Stanley retains overweight rating on Qantas Airways (QAN). Retains $4.90 price target. Predicts domestic capacity will improve to approx. 50% by Christmas, but is highly dependent on state border re-openings. |
| Resmed |
RMD |
Morgan Stanley raises Resmed (RMD) price target from $25.40 to $25.90. Retains equalweight rating. Anticipates co. will continue to deliver strong growth despite the pandemic. |
| Regis Resources |
RRL |
Macquarie lowers Regis Resources (RRL) price target from $5.20 to $4.50. Retains underperform rating. Blames worse than expected first quarter production report. Lowers expected earnings. |
| Regis Resources |
RRL |
UBS lowers Regis Resources (RRL) price target from $5.90 to $5.70. Retains buy rating. Cites lower than expected production and higher than expected costs reported in first quarter production. |
| Seven Group |
SVW |
Goldman Sachs downgrades Seven Group (SVW) rating from buy to neutral. Raises price target from $21.00 to $21.70. Blames recent share price strength for downgrade, is now closer to underlying valuation. Remains positive on fundamentals. |
| Worley |
WOR |
Macquarie lowers Worley (WOR) price target from $13.46 to $12.93. Retains outperform rating. Reviews first quarter trading update. Notes operational environment remains challenging, but cost cutting initiatives to support earnings until recovery improves. |
| Worley |
WOR |
UBS retains buy rating on Worley (WOR). Retains $12.32 price target. Notes negative impact of lower energy prices, but costs continue to improve. |