Australian Broker Call

Produced and copyrighted by at www.fnarena.com

June 09, 2020

Access Broker Call Report Archives here

COMPANIES DISCUSSED IN THIS ISSUE

Click on symbol for fast access.

The number next to the symbol represents the number of brokers covering it for this report -(if more than 1).

Last Updated: 05:00 PM

Your daily news report on the latest recommendation, valuation, forecast and opinion changes.

This report includes concise but limited reviews of research recently published by Stockbrokers, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end.

For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE

Today's Upgrades and Downgrades
BEN - Bendigo And Adelaide Bank Upgrade to Accumulate from Hold Ord Minnett
BWP - BWP Trust Upgrade to Buy from Hold Ord Minnett
CLW - Charter Hall Long Wale Reit Upgrade to Buy from Hold Ord Minnett
HLS - Healius Upgrade to Outperform from Neutral Macquarie
WOR - Worley Upgrade to Outperform from Neutral Credit Suisse
Z1P - Zip Co Downgrade to Neutral from Buy UBS
BEN  BENDIGO AND ADELAIDE BANK LIMITED

Banks

More Research Tools In Stock Analysis - click HERE

Overnight Price: $8.02

Ord Minnett rates BEN as Upgrade to Accumulate from Hold (2) -

Ord Minnett has greater confidence in the economic outlook, finding evidence of an improving funding cost environment and anticipating less downside from the economic downturn for Bendigo and Adelaide Bank compared with peers.

The broker notes the capital position appears solid and should be less pro-cyclical. Rating is upgraded to Accumulate from Hold, with the target raised to $8.10 from $6.00.

This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.

Target price is $8.10 Current Price is $8.02 Difference: $0.08
If BEN meets the Ord Minnett target it will return approximately 1% (excluding dividends, fees and charges).

Current consensus price target is $6.89, suggesting downside of -14.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Ord Minnett forecasts a full year FY20 dividend of 41.00 cents and EPS of 60.00 cents.
At the last closing share price the estimated dividend yield is 5.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 57.1, implying annual growth of -32.8%.

Current consensus DPS estimate is 37.7, implying a prospective dividend yield of 4.7%.

Current consensus EPS estimate suggests the PER is 14.0.

Forecast for FY21:

Ord Minnett forecasts a full year FY21 dividend of 30.00 cents and EPS of 54.00 cents.
At the last closing share price the estimated dividend yield is 3.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 49.6, implying annual growth of -13.1%.

Current consensus DPS estimate is 34.7, implying a prospective dividend yield of 4.3%.

Current consensus EPS estimate suggests the PER is 16.2.

Market Sentiment: 0.1

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

BWP  BWP TRUST

REITs

More Research Tools In Stock Analysis - click HERE

Overnight Price: $3.95

Ord Minnett rates BWP as Upgrade to Buy from Hold (1) -

Ord Minnett assesses assets with long lease expiries are typically -20% undervalued. Early indicators suggest equity inflows are returning to preferred property sectors quickly.

Ord Minnett recommends increasing exposure to long weighted average lease expiry (WALE) A-REITs as part of its view on the recovery post the pandemic.

The broker upgrades to Buy from Hold and raises the target to $4.40 from $3.50.

This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.

Target price is $4.40 Current Price is $3.95 Difference: $0.45
If BWP meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges).

Current consensus price target is $3.61, suggesting downside of -8.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Ord Minnett forecasts a full year FY20 dividend of 18.00 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 4.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.8, implying annual growth of -32.5%.

Current consensus DPS estimate is 18.2, implying a prospective dividend yield of 4.6%.

Current consensus EPS estimate suggests the PER is 22.2.

Forecast for FY21:

Ord Minnett forecasts a full year FY21 dividend of 18.00 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 4.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.0, implying annual growth of 1.1%.

Current consensus DPS estimate is 18.2, implying a prospective dividend yield of 4.6%.

Current consensus EPS estimate suggests the PER is 21.9.

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CHC  CHARTER HALL GROUP

REITs

More Research Tools In Stock Analysis - click HERE

Overnight Price: $10.35

Ord Minnett rates CHC as Accumulate (2) -

Demand for industrial assets is strong. Ord Minnett assesses Charter Hall has strong exposure to this theme and, with 12 established vehicles to deploy capital, remains better equipped to counter declines in shopping centre and office asset values.

The broker lifts estimates of earnings for assets under management and maintains an Accumulate rating. Target is raised to $11.50 from $9.00.

This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.

Target price is $11.50 Current Price is $10.35 Difference: $1.15
If CHC meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges).

Current consensus price target is $9.99, suggesting downside of -3.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Ord Minnett forecasts a full year FY20 dividend of 36.00 cents and EPS of 67.00 cents.
At the last closing share price the estimated dividend yield is 3.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 67.2, implying annual growth of 33.1%.

Current consensus DPS estimate is 35.8, implying a prospective dividend yield of 3.5%.

Current consensus EPS estimate suggests the PER is 15.4.

Forecast for FY21:

Ord Minnett forecasts a full year FY21 dividend of 28.00 cents and EPS of 43.00 cents.
At the last closing share price the estimated dividend yield is 2.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 49.5, implying annual growth of -26.3%.

Current consensus DPS estimate is 35.7, implying a prospective dividend yield of 3.4%.

Current consensus EPS estimate suggests the PER is 20.9.

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CLW  CHARTER HALL LONG WALE REIT

REITs

More Research Tools In Stock Analysis - click HERE

Overnight Price: $4.52

Ord Minnett rates CLW as Upgrade to Buy from Hold (1) -

Ord Minnett upgrades to Buy from Hold. The broker assesses assets with long lease expiries are typically -20% undervalued. Early indicators suggest equity inflows are returning to preferred property sectors quickly.

Ord Minnett recommends increasing exposure to long weighted average lease expiry (WALE) A-REITs as part of its view on the recovery post the pandemic. Target is raised to $5.80 from $4.80.

This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.

Target price is $5.80 Current Price is $4.52 Difference: $1.28
If CLW meets the Ord Minnett target it will return approximately 28% (excluding dividends, fees and charges).

Current consensus price target is $5.30, suggesting upside of 17.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Ord Minnett forecasts a full year FY20 dividend of 28.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 6.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.0, implying annual growth of 9.7%.

Current consensus DPS estimate is 28.4, implying a prospective dividend yield of 6.3%.

Current consensus EPS estimate suggests the PER is 15.6.

Forecast for FY21:

Ord Minnett forecasts a full year FY21 dividend of 29.00 cents and EPS of 29.00 cents.
At the last closing share price the estimated dividend yield is 6.42%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 30.2, implying annual growth of 4.1%.

Current consensus DPS estimate is 29.7, implying a prospective dividend yield of 6.6%.

Current consensus EPS estimate suggests the PER is 15.0.

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

HLS  HEALIUS LIMITED

Healthcare services

More Research Tools In Stock Analysis - click HERE

Overnight Price: $2.62

Macquarie rates HLS as Upgrade to Outperform from Neutral (1) -

Macquarie reviews the near-term growth assumptions and assumes a less substantial impact from the pandemic. The broker believes Healius is positively leveraged to improved activity levels heading into FY21.

The company has highlighted the potential divestment of its medical centres, and if proceeds are used to repay debt, Macquarie calculates this would reduce pro forma gearing to 1.5x from 2.7x.

Rating is upgraded to Outperform from Neutral and the target is raised to $3.00 from $2.70.

Target price is $3.00 Current Price is $2.62 Difference: $0.38
If HLS meets the Macquarie target it will return approximately 15% (excluding dividends, fees and charges).

Current consensus price target is $2.91, suggesting upside of 11.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Macquarie forecasts a full year FY20 dividend of 2.60 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 0.99%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.1, implying annual growth of 9.8%.

Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 1.1%.

Current consensus EPS estimate suggests the PER is 25.9.

Forecast for FY21:

Macquarie forecasts a full year FY21 dividend of 4.50 cents and EPS of 15.70 cents.
At the last closing share price the estimated dividend yield is 1.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.9, implying annual growth of 37.6%.

Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.4%.

Current consensus EPS estimate suggests the PER is 18.8.

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

KGN  KOGAN.COM LTD

Retailing

More Research Tools In Stock Analysis - click HERE

Overnight Price: $12.30

Credit Suisse rates KGN as Neutral (3) -

The company sustained another strong month of sales and earnings growth in May. This stems from consumers switching to online and increased marketing expenditure.

Credit Suisse expects June will also be strong, given this is a typically higher month of sales because of tax incentives at the end of the financial year.

While not "overly enthusiastic" about discretionary retail exposure during the early stages of a recession, the broker acknowledges the company is clearly benefiting from an acceleration in online shopping.

Neutral rating maintained. Target rises to $11.82 from $8.36.

Target price is $11.82 Current Price is $12.30 Difference: minus $0.48 (current price is over target).
If KGN meets the Credit Suisse target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in June.

Forecast for FY20:

Credit Suisse forecasts a full year FY20 dividend of 23.39 cents and EPS of 29.35 cents.
At the last closing share price the estimated dividend yield is 1.90%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.91.

Forecast for FY21:

Credit Suisse forecasts a full year FY21 dividend of 31.84 cents and EPS of 39.98 cents.
At the last closing share price the estimated dividend yield is 2.59%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.77.

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PTM  PLATINUM ASSET MANAGEMENT LIMITED

Wealth Management & Investments

More Research Tools In Stock Analysis - click HERE

Overnight Price: $4.19

Credit Suisse rates PTM as Underperform (5) -

Funds under management of $21.8bn in May were down -1.7% because of negative market movements. Total net outflows improved and were at the lowest level for 2020.

The medium-term performance of the international fund is still well under benchmark. Credit Suisse upgrades FY21-22 earnings estimates by 2% to reflect the benefit of lower year-end distributions.

Underperform maintained. Target is raised to $3.20 from $3.15.

Target price is $3.20 Current Price is $4.19 Difference: minus $0.99 (current price is over target).
If PTM meets the Credit Suisse target it will return approximately minus 24% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $2.96, suggesting downside of -29.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Credit Suisse forecasts a full year FY20 dividend of 24.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 5.73%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.46.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.4, implying annual growth of -9.7%.

Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 5.6%.

Current consensus EPS estimate suggests the PER is 17.2.

Forecast for FY21:

Credit Suisse forecasts a full year FY21 dividend of 22.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 5.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.2, implying annual growth of -17.2%.

Current consensus DPS estimate is 20.5, implying a prospective dividend yield of 4.9%.

Current consensus EPS estimate suggests the PER is 20.7.

Market Sentiment: -0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SKI  SPARK INFRASTRUCTURE GROUP

Infrastructure & Utilities

More Research Tools In Stock Analysis - click HERE

Overnight Price: $2.12

Macquarie rates SKI as Outperform (1) -

The Australian Energy Regulator has released the final outcome for the South Australia Power Network. Macquarie assesses the result is positive for Spark Infrastructure as it ensures growth in the regulated asset base.

The broker believes pressure on the dividend is now alleviated. Outperform rating and $2.33 target maintained. 2021 and 2022 estimates are increased by 5.1% and 6%, respectively.

Target price is $2.33 Current Price is $2.12 Difference: $0.21
If SKI meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).

Current consensus price target is $2.18, suggesting upside of 2.8% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Macquarie forecasts a full year FY20 dividend of 13.50 cents and EPS of 11.60 cents.
At the last closing share price the estimated dividend yield is 6.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.6, implying annual growth of 19.4%.

Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 6.5%.

Current consensus EPS estimate suggests the PER is 37.9.

Forecast for FY21:

Macquarie forecasts a full year FY21 dividend of 13.00 cents and EPS of 8.80 cents.
At the last closing share price the estimated dividend yield is 6.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.5, implying annual growth of -37.5%.

Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 5.8%.

Current consensus EPS estimate suggests the PER is 60.6.

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources


Morgan Stanley rates SKI as Equal-weight (3) -

The Australian Energy Regulator has released a final determination for the South Australian Power Network. Incentive allowances and regulatory depreciation have been increased.

The maximum allowable revenue is higher than the draft and Morgan Stanley's estimates, so no change to distribution guidance is anticipated.

Equal-weight. Target is $2.10. Industry view is Cautious.

Target price is $2.10 Current Price is $2.12 Difference: minus $0.02 (current price is over target).
If SKI meets the Morgan Stanley target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $2.18, suggesting upside of 2.8% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Morgan Stanley forecasts a full year FY20 EPS of 6.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.6, implying annual growth of 19.4%.

Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 6.5%.

Current consensus EPS estimate suggests the PER is 37.9.

Forecast for FY21:

Morgan Stanley forecasts a full year FY21 EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 106.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.5, implying annual growth of -37.5%.

Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 5.8%.

Current consensus EPS estimate suggests the PER is 60.6.

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

WOR  WORLEY LIMITED

Energy Sector Contracting

More Research Tools In Stock Analysis - click HERE

Overnight Price: $10.66

Credit Suisse rates WOR as Upgrade to Outperform from Neutral (1) -

Credit Suisse assesses the company has more exposure to less volatile industries and a recovery in the next 6-12 months is expected.

Worley is now less exposed to oil & gas capital projects but has a higher exposure to oil & gas customer operating activities. There is also around 37% of revenue emanating from the chemical sector.

The broker expects an update on trading conditions at the investor briefing on June 10. Rating is upgraded to Outperform from Neutral on valuation grounds and the target is lowered to $10.50 from $15.00.

Target price is $10.50 Current Price is $10.66 Difference: minus $0.16 (current price is over target).
If WOR meets the Credit Suisse target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $10.09, suggesting downside of -5.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Credit Suisse forecasts a full year FY20 dividend of 38.82 cents and EPS of 64.66 cents.
At the last closing share price the estimated dividend yield is 3.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 77.7, implying annual growth of 113.5%.

Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 3.9%.

Current consensus EPS estimate suggests the PER is 13.7.

Forecast for FY21:

Credit Suisse forecasts a full year FY21 dividend of 33.28 cents and EPS of 69.81 cents.
At the last closing share price the estimated dividend yield is 3.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.2, implying annual growth of -8.4%.

Current consensus DPS estimate is 48.0, implying a prospective dividend yield of 4.5%.

Current consensus EPS estimate suggests the PER is 15.0.

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Z1P  ZIP CO LIMITED

Business & Consumer Credit

More Research Tools In Stock Analysis - click HERE

Overnight Price: $6.48

UBS rates Z1P as Downgrade to Neutral from Buy (3) -

The company has announced the scrip acquisition of Quadpay, a US business in which it held a 14% stake previously. The broker envisages a number of positives, including exposure to the world's largest retail market.

Quadpay has been a strong performer during the pandemic. Through a capital raising of up to $200m the company has resolved near-term equity funding concerns, say the analysts.

However, UBS suggests there are some unknowns, including the precise economics of Quadpay. There is also intense competition in the US.

UBS believes it prudent to take a conservative approach to the acquisition and downgrades to Neutral from Buy. Target is raised to $5.60 from $3.70.

Target price is $5.60 Current Price is $6.48 Difference: minus $0.88 (current price is over target).
If Z1P meets the UBS target it will return approximately minus 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $5.33, suggesting downside of -17.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

UBS forecasts a full year FY20 dividend of 0.00 cents and EPS of minus 11.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 58.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -10.0, implying annual growth of N/A.

Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.

Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY21:

UBS forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 4.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 162.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -6.4, implying annual growth of N/A.

Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.

Current consensus EPS estimate suggests the PER is N/A.

Market Sentiment: 0.5

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Today's Price Target Changes
Company Last Price Broker New Target Prev Target Change
BEN Bendigo And Adelaide Bank $8.02 Ord Minnett 8.10 6.00 35.00%
BWP BWP Trust $3.95 Ord Minnett 4.40 3.50 25.71%
CHC Charter Hall $10.35 Ord Minnett 11.50 9.00 27.78%
CLW Charter Hall Long Wale Reit $4.52 Ord Minnett 5.80 4.80 20.83%
HLS Healius $2.62 Macquarie 3.00 2.70 11.11%
HPI Hotel Property Investments $2.80 Ord Minnett 3.20 2.70 18.52%
KGN Kogan.Com $12.30 Credit Suisse 11.82 8.36 41.39%
LEP Ale Property Group $4.92 Ord Minnett 4.40 3.90 12.82%
PTM Platinum Asset Management $4.19 Credit Suisse 3.20 3.15 1.59%
SKI Spark Infrastructure $2.12 Macquarie 2.33 2.27 2.64%
Morgan Stanley 2.10 2.15 -2.33%
WOR Worley $10.66 Credit Suisse 10.50 15.00 -30.00%
WPR WAYPOINT REIT $2.69 Ord Minnett 2.80 2.40 16.67%
Z1P Zip Co $6.48 UBS 5.60 3.70 51.35%
Summaries
BEN Bendigo And Adelaide Bank Upgrade to Accumulate from Hold - Ord Minnett Overnight Price $8.02
BWP BWP Trust Upgrade to Buy from Hold - Ord Minnett Overnight Price $3.95
CHC Charter Hall Accumulate - Ord Minnett Overnight Price $10.35
CLW Charter Hall Long Wale Reit Upgrade to Buy from Hold - Ord Minnett Overnight Price $4.52
HLS Healius Upgrade to Outperform from Neutral - Macquarie Overnight Price $2.62
KGN Kogan.Com Neutral - Credit Suisse Overnight Price $12.30
PTM Platinum Asset Management Underperform - Credit Suisse Overnight Price $4.19
SKI Spark Infrastructure Outperform - Macquarie Overnight Price $2.12
Equal-weight - Morgan Stanley Overnight Price $2.12
WOR Worley Upgrade to Outperform from Neutral - Credit Suisse Overnight Price $10.66
Z1P Zip Co Downgrade to Neutral from Buy - UBS Overnight Price $6.48
RATING SUMMARY
Rating No. Of Recommendations
1. Buy

5

2. Accumulate

2

3. Hold

3

5. Sell

1

Tuesday 09 June 2020

Access Broker Call Report Archives here

Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.