With the world’s attention firmly focused on Great Britain’s “should I stay or should I go” referendum, stockbroking analysts were not in a mood to issue many downgrades or upgrades during the week ending Friday, 24th July 2016. (See here for more upgrades and downgrades from last week).
In the good books
AURIZON HOLDINGS LIMITED (AZJ) Upgrade to Buy from Hold by Deutsche Bank B/H/S: 5/3/0
Deutsche Bank observes the operating environment is better than previously expected. The company has indicated it has reached 200mt of coal haulage a day earlier this year compared with last year and, therefore, appears on track to achieve guidance of 204-209mt.
Deutsche Bank also revises up FY17 forecasts to 204mt, given positive commentary from the company’s largest customer about coal volumes.
Rating is upgraded to Buy from Hold. Target is raised to $5.20 from $4.30.
Earnings forecast
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