Rudi Filapek-Vandyck has been a journalist for nearly three decades, of which nearly two decades has been in finance. After successfully establishing a leading financial news service in Europe, Rudi moved to Australia where he founded FNArena, an online service dedicated to providing independent and unbiased market analysis. He has also develope...View more >
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There were only a handful of actions in the first week post earnings results, with ResMed and Westpac downgraded.
The underlying current in the final week of the February reporting season, and indeed throughout, was positive. Graincorp and IRESS got upgrades, while Qantas, unsurprisingly, was downgraded.
In a massive week for analysts, actions were dominated by earnings results. Companies that kept a handle on costs were rewarded. AMP and SEEK got upgrades.
Changes in ratings are mostly a reflection of company reports as the local reporting season is in full swing. Valuations feature, as per always, and QBE and Bank of Queensland get upgrades.
Action was slow again this week, as the broker community prepares for reporting season. There were a few surprises with AMP, Westpac and Qantas upgraded.
A tough week on the markets belies the value that brokers are seeing, with positive actions by many analysts. This week AGL Energy, Fortescue and IAG all got upgrades.