##{"id":58432,"date":"2011-07-11T10:47:14","date_gmt":"2011-07-11T00:47:14","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/07\/11\/top-ten-weekly-recommendation-target-price-earnings-forecast-changes-2\/"},"modified":"2011-07-11T10:47:14","modified_gmt":"2011-07-11T00:47:14","slug":"top-ten-weekly-recommendation-target-price-earnings-forecast-changes-2","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/07\/11\/top-ten-weekly-recommendation-target-price-earnings-forecast-changes-2\/","title":{"rendered":"Top Ten Weekly Recommendation, Target Price, Earnings Forecast Changes"},"content":{"rendered":"

\n\t By Chris Shaw<\/p>\n

\n\tThe first full trading week of the new financial year has seen a further increase in positive ratings on Australian equities, the FNArena<\/span> database showing 14 upgrades for the week against nine downgrades by the eight brokers under daily coverage. Total Buy ratings now stand 53.1% of all recommendations, up from nearly 52.5% last week.<\/p>\n

\n\tBank of Queensland ((BOQ<\/span>)) was a major beneficiary of upgrades, seeing an additional two Buy ratings over the past week as the valuation argument in favour<\/span> of the stock continues to gain credence. The valuation argument was also made in favour<\/span> of Westfield Retail as it was upgraded, the stock seen as offering an attractive defensive exposure in the Australian REIT sector.<\/p>\n

\n\tWestfield Group ((WDC<\/span>)) also enjoyed upgrades as more analysts in the market accept there is improved value following recent share price underperformance<\/span>. Revisions to commodity price assumptions sparked upgrades for uranium play Paladin ((PDN<\/span>)) over the week, while the likes of QBE<\/span> Insurance ((QBE<\/span>)), ResMed<\/span> ((RMD<\/span>)) and Westpac also saw upgrades.<\/p>\n

\n\tOn the flip side the major downgrade of the week was experienced by Murchison<\/span> Metals ((MMX<\/span>)) after the company updated on the progress of the Okajee<\/span> and port and rail and Jack Hills uranium mine projects. Brokers see a need for a restructuring as the capital costs of development appear beyond Murchison<\/span> at present.<\/p>\n

\n\tChanges to commodity price assumptions were behind a downgrade for Gryphon<\/span> ((GRY<\/span>)), while the likes of Macquarie Group ((MQG<\/span>)), Cardno<\/span> ((CDD<\/span>)) and Insurance Australia Group ((IAG<\/span>)) also met with downgrades during the week.<\/p>\n

\n\tThere was little in the way of increases to target prices, which tends to underpin the argument while the market offers a number of value situations there are few obvious catalysts at present. Murchison's<\/span> issues saw price targets for the company slashed by better than 70%, other reductions being of similar magnitude to the target increases.<\/p>\n

\n\tOur usual update on earnings estimates is this week absent due to technological problems. Sorry, we couldn't get them fixed in time before today's update. Should be back next week.<\/p>\n

\n\t <\/p>\n\n\n\n\n
\n\t\t\t\tTotal Recommendations<\/strong>
\n\t\t\t\t<\/td>\n		\n\t\t\t\tRecommendation Changes<\/strong>
\n\t\t\t\t<\/td>\n<\/tr>\n
\n

\n\t\t\t\t\t <\/p>\n

\t\t\t\tBroker Recommendation Breakup<\/strong>
\n\t\t\t\t<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n\t <\/p>\n

\n

\n\t\tRecommendation<\/h2>\n
\n

\n\t\t\tPositive Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\t\t\t\t\t\tOrder<\/th>\n\n\t\t\t\t\t\tSymbol<\/th>\n\n\t\t\t\t\t\tPrevious Rating<\/th>\n\n\t\t\t\t\t\tNew Rating<\/th>\n\n\t\t\t\t\t\tChange<\/th>\n\n\t\t\t\t\t\tRecs<\/span><\/th>\n<\/tr>\n<\/thead>\n
\n\t\t\t\t\t\t1<\/td>\n\n\t\t\t\t\t\tBOQ<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.130<\/td>\n\n\t\t\t\t\t\t0.500<\/td>\n\n\t\t\t\t\t\t0.37%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t2<\/td>\n\n\t\t\t\t\t\tWRT<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.710<\/td>\n\n\t\t\t\t\t\t1.000<\/td>\n\n\t\t\t\t\t\t0.29%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t3<\/td>\n\n\t\t\t\t\t\tBTT<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.500<\/td>\n\n\t\t\t\t\t\t0.670<\/td>\n\n\t\t\t\t\t\t0.17%<\/td>\n\n\t\t\t\t\t\t3<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t4<\/td>\n\n\t\t\t\t\t\tWDC<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.710<\/td>\n\n\t\t\t\t\t\t0.860<\/td>\n\n\t\t\t\t\t\t0.15%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t5<\/td>\n\n\t\t\t\t\t\tPDN<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.430<\/td>\n\n\t\t\t\t\t\t0.570<\/td>\n\n\t\t\t\t\t\t0.14%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t6<\/td>\n\n\t\t\t\t\t\tTSE<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.570<\/td>\n\n\t\t\t\t\t\t0.710<\/td>\n\n\t\t\t\t\t\t0.14%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t7<\/td>\n\n\t\t\t\t\t\tQBE<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.250<\/td>\n\n\t\t\t\t\t\t0.380<\/td>\n\n\t\t\t\t\t\t0.13%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t8<\/td>\n\n\t\t\t\t\t\tRMD<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.500<\/td>\n\n\t\t\t\t\t\t0.630<\/td>\n\n\t\t\t\t\t\t0.13%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t9<\/td>\n\n\t\t\t\t\t\tWBC<\/a><\/td>\n\n\t\t\t\t\t\t0.130<\/td>\n\n\t\t\t\t\t\t0.250<\/td>\n\n\t\t\t\t\t\t0.12%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t10<\/td>\n\n\t\t\t\t\t\tTEN<\/a><\/td>\n\n\t\t\t\t\t\t0.130<\/td>\n\n\t\t\t\t\t\t0.250<\/td>\n\n\t\t\t\t\t\t0.12%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n

\n\t\t\tNegative Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
\n\t\t\t\t\t\tOrder<\/th>\n\n\t\t\t\t\t\tSymbol<\/th>\n\n\t\t\t\t\t\tPrevious Rating<\/th>\n\n\t\t\t\t\t\tNew Rating<\/th>\n\n\t\t\t\t\t\tChange<\/th>\n\n\t\t\t\t\t\tRecs<\/span><\/th>\n<\/tr>\n<\/thead>\n
\n\t\t\t\t\t\t1<\/td>\n\n\t\t\t\t\t\tMMX<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.330<\/td>\n\n\t\t\t\t\t\t– 0.670<\/td>\n\n\t\t\t\t\t\t– 1.00%<\/td>\n\n\t\t\t\t\t\t3<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t2<\/td>\n\n\t\t\t\t\t\tGRY<\/span><\/a><\/td>\n\n\t\t\t\t\t\t1.000<\/td>\n\n\t\t\t\t\t\t0.670<\/td>\n\n\t\t\t\t\t\t– 0.33%<\/td>\n\n\t\t\t\t\t\t3<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t3<\/td>\n\n\t\t\t\t\t\tCMW<\/span><\/a><\/td>\n\n\t\t\t\t\t\t1.000<\/td>\n\n\t\t\t\t\t\t0.670<\/td>\n\n\t\t\t\t\t\t– 0.33%<\/td>\n\n\t\t\t\t\t\t3<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t4<\/td>\n\n\t\t\t\t\t\tCDD<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.750<\/td>\n\n\t\t\t\t\t\t0.500<\/td>\n\n\t\t\t\t\t\t– 0.25%<\/td>\n\n\t\t\t\t\t\t4<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t5<\/td>\n\n\t\t\t\t\t\tMQG<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.290<\/td>\n\n\t\t\t\t\t\t0.140<\/td>\n\n\t\t\t\t\t\t– 0.15%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t6<\/td>\n\n\t\t\t\t\t\tIAG<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.750<\/td>\n\n\t\t\t\t\t\t0.630<\/td>\n\n\t\t\t\t\t\t– 0.12%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t7<\/td>\n\n\t\t\t\t\t\tWOR<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.500<\/td>\n\n\t\t\t\t\t\t0.430<\/td>\n\n\t\t\t\t\t\t– 0.07%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n\t\t <\/div>\n<\/div>\n
\n

\n\t\tTarget Price<\/h2>\n
\n

\n\t\t\tPositive Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n
\n\t\t\t\t\t\tOrder<\/th>\n\n\t\t\t\t\t\tSymbol<\/th>\n\n\t\t\t\t\t\tPrevious Target<\/th>\n\n\t\t\t\t\t\tNew Target<\/th>\n\n\t\t\t\t\t\tChange<\/th>\n\n\t\t\t\t\t\tRecs<\/span><\/th>\n<\/tr>\n<\/thead>\n
\n\t\t\t\t\t\t1<\/td>\n\n\t\t\t\t\t\tSKI<\/a><\/td>\n\n\t\t\t\t\t\t1.319<\/td>\n\n\t\t\t\t\t\t1.379<\/td>\n\n\t\t\t\t\t\t4.55%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t2<\/td>\n\n\t\t\t\t\t\tESG<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.907<\/td>\n\n\t\t\t\t\t\t0.920<\/td>\n\n\t\t\t\t\t\t1.43%<\/td>\n\n\t\t\t\t\t\t4<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t3<\/td>\n\n\t\t\t\t\t\tRMD<\/span><\/a><\/td>\n\n\t\t\t\t\t\t3.493<\/td>\n\n\t\t\t\t\t\t3.538<\/td>\n\n\t\t\t\t\t\t1.29%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t4<\/td>\n\n\t\t\t\t\t\tPRY<\/a><\/td>\n\n\t\t\t\t\t\t3.656<\/td>\n\n\t\t\t\t\t\t3.699<\/td>\n\n\t\t\t\t\t\t1.18%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t5<\/td>\n\n\t\t\t\t\t\tWRT<\/span><\/a><\/td>\n\n\t\t\t\t\t\t2.917<\/td>\n\n\t\t\t\t\t\t2.934<\/td>\n\n\t\t\t\t\t\t0.58%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t6<\/td>\n\n\t\t\t\t\t\tWDC<\/span><\/a><\/td>\n\n\t\t\t\t\t\t10.079<\/td>\n\n\t\t\t\t\t\t10.090<\/td>\n\n\t\t\t\t\t\t0.11%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n

\n\t\t\tNegative Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\t\t\t\t\t\tOrder<\/th>\n\n\t\t\t\t\t\tSymbol<\/th>\n\n\t\t\t\t\t\tPrevious Target<\/th>\n\n\t\t\t\t\t\tNew Target<\/th>\n\n\t\t\t\t\t\tChange<\/th>\n\n\t\t\t\t\t\tRecs<\/span><\/th>\n<\/tr>\n<\/thead>\n
\n\t\t\t\t\t\t1<\/td>\n\n\t\t\t\t\t\tMMX<\/span><\/a><\/td>\n\n\t\t\t\t\t\t2.100<\/td>\n\n\t\t\t\t\t\t0.560<\/td>\n\n\t\t\t\t\t\t– 73.33%<\/td>\n\n\t\t\t\t\t\t3<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t2<\/td>\n\n\t\t\t\t\t\tMQG<\/span><\/a><\/td>\n\n\t\t\t\t\t\t39.666<\/td>\n\n\t\t\t\t\t\t37.523<\/td>\n\n\t\t\t\t\t\t– 5.40%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t3<\/td>\n\n\t\t\t\t\t\tCDD<\/span><\/a><\/td>\n\n\t\t\t\t\t\t6.363<\/td>\n\n\t\t\t\t\t\t6.198<\/td>\n\n\t\t\t\t\t\t– 2.59%<\/td>\n\n\t\t\t\t\t\t4<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t4<\/td>\n\n\t\t\t\t\t\tWOR<\/span><\/a><\/td>\n\n\t\t\t\t\t\t31.608<\/td>\n\n\t\t\t\t\t\t30.824<\/td>\n\n\t\t\t\t\t\t– 2.48%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t5<\/td>\n\n\t\t\t\t\t\tGRY<\/span><\/a><\/td>\n\n\t\t\t\t\t\t2.143<\/td>\n\n\t\t\t\t\t\t2.093<\/td>\n\n\t\t\t\t\t\t– 2.33%<\/td>\n\n\t\t\t\t\t\t3<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t6<\/td>\n\n\t\t\t\t\t\tIAG<\/span><\/a><\/td>\n\n\t\t\t\t\t\t4.028<\/td>\n\n\t\t\t\t\t\t3.950<\/td>\n\n\t\t\t\t\t\t– 1.94%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t7<\/td>\n\n\t\t\t\t\t\tCMW<\/span><\/a><\/td>\n\n\t\t\t\t\t\t0.775<\/td>\n\n\t\t\t\t\t\t0.760<\/td>\n\n\t\t\t\t\t\t– 1.94%<\/td>\n\n\t\t\t\t\t\t3<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t8<\/td>\n\n\t\t\t\t\t\tABC<\/a><\/td>\n\n\t\t\t\t\t\t3.604<\/td>\n\n\t\t\t\t\t\t3.535<\/td>\n\n\t\t\t\t\t\t– 1.91%<\/td>\n\n\t\t\t\t\t\t8<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t9<\/td>\n\n\t\t\t\t\t\tASX<\/span><\/a><\/td>\n\n\t\t\t\t\t\t36.682<\/td>\n\n\t\t\t\t\t\t35.980<\/td>\n\n\t\t\t\t\t\t– 1.91%<\/td>\n\n\t\t\t\t\t\t7<\/td>\n<\/tr>\n
\n\t\t\t\t\t\t10<\/td>\n\n\t\t\t\t\t\tBTT<\/span><\/a><\/td>\n\n\t\t\t\t\t\t2.960<\/td>\n\n\t\t\t\t\t\t2.907<\/td>\n\n\t\t\t\t\t\t– 1.79%<\/td>\n\n\t\t\t\t\t\t3<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n\t\t <\/div>\n<\/div>\n
\n\t <\/div>\n
\n

\n\t\tTechnical limitations<\/strong><\/p>\n

\n\t\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span><\/span><\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n

\n\t\tFind out why FNArena<\/span><\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Weekly update on recommendation, target price, and earning forecast changes.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[90,23,89,35,24,39,91,88,37,22,31,25],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58432"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=58432"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58432\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}