A selection of ratings upgrades and downgrades, target price changes, and commentary for ASX stocks from major research houses for 24 September.
The big brokers have run the ruler over a number of key stocks over the last 24 hours. There were mixed reactions to FY20 results from Nufarm (NUF), with the stock receiving both price target increases and decreases.
In other moves, Macquarie was modestly impressed with Kathmandu's (KMD) FY20 results, and Credit Suisse predicted that the planned upgrades to the NBN network would yield little profit upside potential for Telstra (TLS).
| Kathmandu |
KMD |
Macquarie raises Kathmandu (KMD) price target from $1.090 to $1.150. Retains neutral rating. Cites better than expected FY20 results. |
| Lendlease Group |
LLC |
Goldman Sachs raises Lendlease Group (LLC) price target from $16.37 to $16.74. Retains buy rating. Broker believes improving earnings quality and consistency should drive a re-rating of co. |
| News Corporation |
NWS |
Credit Suisse raises News Corporation (NWS) price target from $23.25 to $25.00. Retains outperform rating. Is pleased with investor briefing comments. |
| Nufarm |
NUF |
Credit Suisse raises Nufarm (NUF) price target from $5.04 to $5.07. Retains outperform rating. Reviews FY20 results. Sees as modestly positive. |
| Nufarm |
NUF |
Macquarie raises Nufarm (NUF) price target from $4.26 to $4.50. Retains neutral rating. Notes FY20 results slightly better than expected. |
| Nufarm |
NUF |
UBS raises Nufarm (NUF) price target from $4.87 to $5.25. Retains buy rating. Reacts positively to FY20 results, better than expected. |
| Nufarm |
NUF |
Goldman Sachs lowers Nufarm (NUF) price target from $5.40 to $5.30. Retains buy rating. Reviews FY20 results. Sees as in line with expectations. Notes continued significant European headwinds. Valuation remains attractive though. |
| Nufarm |
NUF |
Citi lowers Nufarm (NUF) price target from $5.60 to $5.30. Retains buy rating. Blames larger than expected net loss. Noted, sound improvement in Australian operations, solid balance sheet. |
| Telstra Corporation |
TLS |
Credit Suisse lowers Telstra Corporation (TLS) price target from $3.90 to $3.85. Retains outperform rating. Reviews NBN upgrade announcement by Federal Government, will likely increase costs without substantial improvement to product offering. |
| Treasury Wine Estates |
TWE |
Credit Suisse upgrades Treasury Wine Estates (TWE) rating from neutral to outperform. Retains $12.30 price target. Sees increased value on the back of recent share price falls. |
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