A selection of ratings upgrades and downgrades, target price changes, and commentary for ASX stocks from major research houses for 18 September.
The big brokers have run the ruler over a number of key stocks over the last 24 hours.
Rio Tinto (RIO) continued to benefit from recent upgrades in iron ore price targets - ironically as the price of iron ore pulls back from recent multi-year highs.
Elsewhere building products group CSR got a vote of confidence from Macquarie, while Citigroup was disappointed by news that City Chic Collective (CCX) missed out on a key acquisition.
| Beach Energy |
BPT |
Citi upgrades Beach Energy (BPT) rating from neutral to buy. Retains $1.940 price target. Cites recent pullback in share price as creating value-based opportunity. |
| Bluescope Steel |
BSL |
UBS raises Bluescope Steel (BSL) price target from $12.30 to $13.10. Retains neutral rating. Notes improvement in US steel pricing, but risks remain. |
| City Chic Collective |
CCX |
Citi lowers City Chic Collective (CCX) price target from $3.40 to $3.20. Retains neutral rating. Reviews news that co. missed out on acquisition. Notes negative impact on growth prospects. |
| CSR |
CSR |
Macquarie raises CSR (CSR) price target from $4.35 to $4.60. Retains outperform rating. Broker is impressed with co's cost cutting program. Likes growth prospects on improved outlook for building sector. |
| Nanosonics |
NAN |
Goldman Sachs initiates neutral rating on Nanosonics (NAN). Initiates $5.50 price target. |
| News Corporation |
NWS |
Goldman Sachs retains buy rating on News Corporation (NWS). Retains $25.60 price target. |
| OIL Search |
OSH |
Macquarie lowers OIL Search (OSH) price target from $3.75 to $3.45. Retains outperform rating. Blames continued weakness in pricing. |
| Reliance Worldwide Corporation |
RWC |
UBS downgrades Reliance Worldwide Corporation (RWC) rating from buy to neutral. Raises price target from $3.65 to $3.85. Considers impact on valuation of recent share price appreciation. |
| RIO Tinto |
RIO |
JP Morgan upgrades RIO Tinto (RIO) rating from neutral to overweight. |
| RIO Tinto |
RIO |
Barclays upgrades RIO Tinto (RIO) rating from underweight to equalweight. |
| Scentre Group |
SCG |
Macquarie raises Scentre Group (SCG) price target from $2.08 to $2.18. Retains neutral rating. |
| Sonic Healthcare |
SHL |
Macquarie raises Sonic Healthcare (SHL) price target from $33.50 to $34.50. Retains neutral rating. Notes likely impact of US Covid-19 testing contract win on earnings. |
Back