In the good books
ARB CORPORATION LIMITED (ARB) Upgrade to Neutral from Sell by Citi B/H/S: 0/3/0
Citi had earlier slapped a Sell rating on the stock as it was deemed well overcooked, but now the share price has fallen -16% since the start of the year, the analysts think it’s time to upgrade to Neutral.
Ahead of the upcoming interim report, forecasts have been left largely unchanged.
[1]SIMS METAL MANAGEMENT LIMITED (SGM) Upgrade to Buy from Neutral by Citi B/H/S: 3/2/2
Increased confidence about the potential for a positive surprise at the upcoming interim report release has triggered an upgrade to Buy from Neutral at Citi. The analysts mention increased confidence around the company’s near term volume outlook.
Citi analysts are currently positioned 10% ahead of consensus for FY17 EBIT forecast. Target remains $13.70.
In the not-so-good books
AMP LIMITED (AMP) Downgrade to Neutral from Buy by Citi B/H/S: 4/4/0
Citi analysts had been praying for the absence of any further negative surprises beforehand, and they got what they were hoping for, but still the decision was made to downgrade to Neutral from Buy.
Citi now thinks significant headwinds for the company’s Wealth Management business will weigh on the share price. They see no real value and prefer QBE Insurance (QBE) in the sector instead. Target $5.60.
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[3]Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.