Weekly Reports | 10:00 AM
Weekly update on stockbroker recommendation, target price, and earnings forecast changes.
By Mark Woodruff
The FNArena database tabulates the views of seven major Australian and international stock brokers: Citi, Credit Suisse, Macquarie, Morgan Stanley, Morgans, Ord Minnett and UBS.
For the purpose of broker rating correlation, Outperform and Overweight ratings are grouped as Buy, Neutral is grouped with Hold and Underperform and Underweight are grouped as Sell to provide a Buy/Hold/Sell (B/H/S) ratio.
Ratings, consensus target price and forecast earnings tables are published at the bottom of this report.
Period: Monday May 3 to Friday May 7, 2021
Total Upgrades: 10
Total Downgrades: 13
Net Ratings Breakdown: Buy 54.85%; Hold 38.39%; Sell 6.76%
For the week ending Friday 7 May, there were ten upgrades and thirteen downgrades to ASX-listed companies by brokers in the FNArena database.
PointsBet Holdings received two upgrades to ratings from separate brokers. March quarter results demonstrated to Credit Suisse an ability to capture revenue in the US. The broker considers the company a credible number four player in the US sports betting market. Meanwhile, Ord Minnett was impressed by a record jump in active clients in the US, which resulted from a significant jump in marketing efforts.
ANZ Bank was in receipt of two downgrades to recommendations from two separate brokers. Both Credit Suisse and Morgan Stanley agreed a…