{"id":64916,"date":"2015-03-23T10:28:50","date_gmt":"2015-03-22T23:28:50","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2015\/03\/23\/weekly-recommendation-target-price-earnings-forecast-changes-151\/"},"modified":"2015-03-23T10:28:50","modified_gmt":"2015-03-22T23:28:50","slug":"weekly-recommendation-target-price-earnings-forecast-changes-151","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2015\/03\/23\/weekly-recommendation-target-price-earnings-forecast-changes-151\/","title":{"rendered":"Weekly Recommendation, Target Price, Earnings Forecast Changes"},"content":{"rendered":"

By Rudi Filapek-Vandyck, Editor FNArena<\/p>\n

Guide:<\/strong><\/em><\/p>\n

The FNArena database tabulates the views of eight major Australian and international stock brokers: Citi, Credit Suisse, Deutsche Bank, JP Morgan, Macquarie, Morgan Stanley, Morgans and UBS.<\/em><\/p>\n

For the purpose of broker rating correlation, Outperform and Overweight ratings are grouped as Buy, Neutral is grouped with Hold and Underperform and Underweight are grouped as Sell to provide a Buy\/Hold\/Sell (B\/H\/S) ratio.<\/em><\/p>\n

Ratings, consensus target price and forecast earnings tables are published at the bottom of this report.<\/em><\/p>\n

Summary<\/strong><\/em><\/p>\n

Period: Monday March 16 to Friday March 20, 2015
\nTotal Upgrades: 9
\nTotal Downgrades: 9
\nNet Ratings Breakdown: Buy 40.68%; Hold 41.53%; Sell 17.78%<\/em><\/p>\n

It would appear price action during the week ending Friday, 20th March 2015, was characterised by disappointing out of season reports from local retailers and at the same time short covering in the wake of a more dovish than expected Federal Reserve in the USA. As expected, the first was matched by negative revisions in ratings, price targets and forecasts. The second, however, goes hand-in-hand with the observation that forecasts and targets are no longer falling for resources stocks.<\/p>\n

No doubt, many a patient investor is keeping fingers crossed we may be witnessing a reversal in trend for resources stocks, finally!<\/p>\n

No surprise, the table for downward adjustments to earnings estimates has Myer and OrotonGroup in the two top positions, following disappointing results releases, and Fortescue Metals on position three as the price for iron ore continues to weaken. On the other hand, Sigma Pharmaceuticals, which has been in similar position as the retailers for numerous reporting seasons in a row, managed to put together a commendable performance and has been “rewarded” for it.<\/p>\n

For the week, which was relatively quiet in terms of broker research, FNArena registered nine upgrades in ratings and nine downgrades. iiNet and Myer were responsible for two changes each. TPG’s offer for iiNet triggered two upgrades while Myer’s larger-than-expected loss triggered two downgrades, plus a whole lot of questions about the company’s compliance with ASX rules to keep the market informed on important developments at all times.<\/p>\n

Upgrades<\/u><\/strong><\/p>\n

BHP\u00a0Billiton\u00a0((BHP)) upgraded to Buy from Neutral by\u00a0Citi.\u00a0<\/strong>B\/H\/S: 4\/4\/0<\/p>\n

Citi\u00a0has upgraded to Buy from Neutral following share price weakness and on the estimate that investors looking for yield can have 5.5% if they buy now, or 6% if they wait until\u00a0South32\u00a0has become a separately listed entity, which should happen by late May\/June. Price target remains $35. Making this story even more about dividends,\u00a0Citi\u00a0believes\u00a0South32\u00a0post separation can become a high yielding stock in its own right, estimating a yield of circa 6% for the spin-off.<\/p>\n

BlueScope\u00a0Steel ((BSL)) upgraded to Outperform from Neutral by Macquarie<\/strong>. B\/H\/S: 7\/1\/0<\/p>\n

Macquarie has updated FX forecasts, assuming a lower Australian dollar and euro versus the US dollar over the next couple of years. The broker has also made material cuts to near-term iron ore price forecasts. In the steel sector,\u00a0BlueScope\u00a0is the largest beneficiary of the changes to forecasts and the broker expects steel spreads to improve. Macquarie upgrades to Outperform from Neutral. Target is raised to $6.80 from $5.40.<\/p>\n

iiNet\u00a0((IIN)) upgraded to Outperform from Neutral by Credit Suisse and to Equal-weight from Underweight by Morgan Stanley<\/strong>. B\/H\/S: 3\/4\/1<\/p>\n

TPG\u00a0Telecom ((TPM)) has launched a takeover offer for\u00a0iiNet\u00a0at $8.60 a share. Credit Suisse notes\u00a0iiNet\u00a0may declare a special dividend to pay out excess franking credits to shareholders. The broker upgrades\u00a0iiNet\u00a0to Outperform from Neutral on the basis that\u00a0iiNet\u00a0is trading below terms and offers a 16%\u00a0annualised\u00a0return through to deal completion. Credit Suisse believes there is limited risk of the deal being blocked on competition grounds. Target is lifted to $9.82 from $7.00. Morgan Stanley raises the target price to $8.60 from $6.00 to reflect the bid price. Rating is upgraded to Equal-weight from Underweight. Industry view is In-Line. The broker does not believe the\u00a0ACCC\u00a0is likely to block the bid and notes the new company would have a 27% retail broadband share, well behind the leader Telstra ((TLS)) which has 45%.<\/p>\n

See also\u00a0IIN\u00a0downgrade.<\/p>\n

Mincor\u00a0Resources ((MCR)) upgraded to Outperform from Neutral by Macquarie<\/strong>. B\/H\/S: 2\/0\/0<\/p>\n

The broker has lowered its A$ forecasts which leads to earnings upgrades for nickel miners. The broker is bullish nickel and bases its valuations upon this stance, acknowledging that valuations would be materially different were the broker to assume current spot nickel pricing.\u00a0Mincor’s\u00a0target rises to\u00a080c\u00a0from\u00a075c\u00a0Upgrade to Outperform.<\/p>\n

OZ Minerals ((OZL)) upgraded to Outperform from Neutral by Macquarie<\/strong>. B\/H\/S: 5\/3\/0<\/p>\n

The broker has lowered its A$ forecasts which leads to earnings upgrades for copper miners. The broker is bullish copper and bases its valuations upon this stance, acknowledging that valuations would be materially different were the broker to assume current spot copper pricing. OZ Minerals’ target rises to $5.30 from $4.30, upgrade to Outperform.<\/p>\n

Regis Resources ((RRL)) upgraded to Buy, High Risk from Neutral by\u00a0Citi<\/strong>. B\/H\/S: 4\/3\/1<\/p>\n

First half results were an improvement on the flood and grade affected second half of\u00a0FY14. While poor weather and lower grades have returned to vex investors in the March quarter the broker considers the share price has fallen too far.\u00a0Citi\u00a0upgrades to Buy, High Risk from Neutral, High Risk based on valuation, retaining the high risk rating because of ongoing operational difficulties. Target is $1.79.<\/p>\n

Senex\u00a0Energy ((SXY)) upgraded to Neutral from\u00a0Underperform\u00a0by Credit Suisse<\/strong>. B\/H\/S: 4\/2\/0<\/p>\n

After a volatile period for mid cap oil producers the stock is down almost 20%. At the current price the broker can envisage the value potential in\u00a0Senex, as its large gas resources may be called on to supply the east coast market. The broker upgrades to Neutral from\u00a0Underperform. That said, Credit Suisse is still uncertain about the economics of both Hornet and\u00a0Surat\u00a0CSG\u00a0and the capability of the balance sheet to deal with this uncertainty. Target is raised to\u00a035c\u00a0from\u00a032c.<\/p>\n

Washington H S\u00a0Pattinson\u00a0((SOL)) upgraded to Add from Hold by\u00a0Morgans<\/strong>. B\/H\/S: 1\/0\/0<\/p>\n

The broker does not believe the share price reflects the value being ascribed to\u00a0TPG\u00a0Telecom ((TPM)) following that company’s bid for\u00a0iiNet\u00a0((IIN)). Soul\u00a0Pattinson\u00a0holds a 27% stake in\u00a0TPG. While normal transaction risks exist, the\u00a0TPG\u00a0share price appears to suggest it will be successful. As such, Soul\u00a0Pattinson\u00a0should benefit.\u00a0Morgans\u00a0upgrades the rating to Add from Hold and raises the target to $16.08 from $14.25.<\/p>\n

Downgrades<\/u><\/strong><\/p>\n

Affinity Education ((AFJ)) downgraded to Hold from Add by\u00a0Morgans<\/strong>. B\/H\/S: 0\/1\/0<\/p>\n

The timing around the company’s $75m\u00a0raising to acquire $25m\u00a0in acquisitions and pay back $45m\u00a0in debt surprised the broker.\u00a0FY15\u00a0earnings per share will be diluted by 13%.\u00a0Morgans\u00a0finds it strange that such a large equity raising was needed given it is dilutive and expensive versus debt alternatives. The rating is downgraded to Hold from Add and the target is reduced to $1.34 from $1.80.<\/p>\n

BC Iron ((BCI)) downgraded to\u00a0Underperform\u00a0from Neutral by Macquarie<\/strong>. B\/H\/S: 0\/1\/2<\/p>\n

The broker has cut its iron ore price forecasts which affects material earnings downgrades for junior iron ore producers. However, the downgrades are offset by cuts to the broker’s A$ forecasts. BC Iron is downgraded to\u00a0Underperform. Target falls to\u00a040c\u00a0from\u00a053c.<\/p>\n

Dulux\u00a0((DLX)) downgraded to Neutral from Outperform by Credit Suisse<\/strong>. B\/H\/S: 1\/6\/1<\/p>\n

The company will construct a new paint factory in Melbourne and a distribution\u00a0centre\u00a0in Sydney. The investment should be positive for valuation once fully operational, in Credit Suisse’s view. The relocating of the water-based paint manufacture to Melbourne, away from the risk of flood and fire interruptions in Queensland, is considered a good measure. Despite raising the target to $6.70 from $6.20, Credit Suisse downgrades to Neutral from Outperform, hastening to add this is not a reflection of the investment nor a reflection of asset quality and management’s track record. It is simply that, following a period of\u00a0outperformance, the valuation gap has closed with the good news reflected in the price.<\/p>\n

iiNet\u00a0((IIN)) downgraded to Hold from Add by\u00a0Morgans<\/strong>. B\/H\/S: 3\/4\/1<\/p>\n

Morgans\u00a0only recently upgraded to Add but has now pulled the rating back to Hold following the bid by\u00a0TPG\u00a0Telecom ((TPM)) at $8.60 a share. The broker now sets the target at $8.60, from $7.52. The broker notes\u00a0iiNet\u00a0board has the potential to distribute retained profits as a special dividend and the offer price would go down by whatever the cash component is.<\/p>\n

See also\u00a0IIN\u00a0upgrade.<\/p>\n

Kathmandu ((KMD)) downgraded to Neutral from Outperform by Credit Suisse<\/strong>. B\/H\/S: 1\/4\/0<\/p>\n

Credit Suisse will be looking for clarification on trading conditions over Christmas when the company reports its first half results on March 24. The broker is also interested in the strategic plans around store roll-outs, particularly given sales growth is not corresponding with the increases in rent and other variable costs. Credit Suisse takes the opportunity to downgrade to Neutral from Outperform in light of the recent rally and retains a target of NZ$1.80.<\/p>\n

Myer ((MYR)) downgraded to Sell from Hold by Deutsche Bank and to Sell from Neutral by Citi<\/strong>. B\/H\/S: 1\/3\/4<\/p>\n

First half results were below expectations as was guidance. Deutsche Bank believes the chairman needs to make substantial investment to have any chance of addressing the issues stemming from stagnant sales and a growing cost base. The broker downgrades to Sell from Hold, noting the latest earnings downgrade makes for limited head room to address the issues. Management could avoid an equity raising by adding less cost to the business but this will not fix the underlying problem, in Deutsche Bank’s view. Target is lowered to $1.10 from $1.60.<\/p>\n

Citi\u00a0analysts have pulled back their rating to Sell from Neutral, while cutting the price target to $1.25 from $1.60.\u00a0EPS forecast for\u00a0FY15\u00a0has been reduced by 15% which positions\u00a0Citi\u00a0below company guidance with the analysts explaining they anticipate less sales growth. Elsewhere in the report the analysts state they see “a good chance” Myer will be forced to raise fresh capital. This is yet another reason to downgrade to Sell.<\/p>\n

Under a worst case scenario, explain the analysts, their valuation would drop to no more than $0.92.\u00a0The strategic review by new CEO Richard\u00a0Umbers\u00a0may be determined\u00a0by the end of July 2015.\u00a0Citi\u00a0analysts see it as a key catalyst event.<\/p>\n

TPG\u00a0Telecom ((TPM)) downgraded to Sell from Neutral by\u00a0Citi<\/strong>. B\/H\/S: 2\/2\/2<\/p>\n

TPG’s\u00a0offer for\u00a0iiNet\u00a0((IIN)) has strong strategic logic, in the broker’s view, and potential earnings accretion of 14% in year one. Still, the shares are priced for perfection while the deal is not yet completed, so the broker suggests it is better taking money off the table at current prices and downgrades to Sell from Neutral. Target is raised to $8.20 from $7.05.<\/p>\n

Wesfarmers ((WES)) downgraded to Equal-weight from Overweight by Morgan Stanley<\/strong>. B\/H\/S: 0\/5\/3<\/p>\n

Morgan Stanley is downgrading to Equal-weight from Overweight on the back of slower growth at Coles. While its strategies are considered more sustainable than rival Woolworths ((WOW)) the broker contends it is not immune to the weaker industry outlook. The broker now forecasts a flat 5.4% earnings margin for Coles. Target is lowered to $43 from $48 and the industry view remains In-Line.<\/p>\n

\u00a0<\/p>\n\n\n\n\n
Total Recommendations<\/strong>
\n\t\t\t<\/td>\n		Recommendation Changes<\/strong>
\n\t\t\t<\/td>\n<\/tr>\n
\n

\u00a0<\/p>\n

\t\t\tBroker Recommendation Breakup<\/strong>
\n\t\t\t<img src="http:\/\/www.fnarena.com\/charts\/fnarena\/3dbar.php?mydata=1&mylabels=Citi,CreditSuisse,DeutscheBank,JPMorgan,Macquarie,MorganStanley,Morgans,UBS&b0=83,77,91,74,135,70,167,98&h0=102,113,136,108,107,60,153,125&s0=50,59,19,50,49,40,22,43″ style=”border:1px solid #000000″ \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/p>\n

\n

Broker Rating<\/h2>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Order<\/th>\nCompany<\/th>\nOld Rating<\/th>\nNew Rating<\/th>\nBroker<\/th>\n<\/tr>\n<\/thead>\n
Upgrade<\/td>\n<\/tr>\n
1<\/td>\nBHP BILLITON LIMITED<\/a><\/td>\nNeutral<\/td>\nBuy<\/td>\nCiti<\/td>\n<\/tr>\n
2<\/td>\nBLUESCOPE STEEL LIMITED<\/a><\/td>\nNeutral<\/td>\nBuy<\/td>\nMacquarie<\/td>\n<\/tr>\n
3<\/td>\nIINET LIMITED<\/a><\/td>\nNeutral<\/td>\nBuy<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
4<\/td>\nIINET LIMITED<\/a><\/td>\nSell<\/td>\nNeutral<\/td>\nMorgan Stanley<\/td>\n<\/tr>\n
5<\/td>\nMINCOR RESOURCES NL<\/a><\/td>\nNeutral<\/td>\nBuy<\/td>\nMacquarie<\/td>\n<\/tr>\n
6<\/td>\nOZ MINERALS LIMITED <\/a><\/td>\nNeutral<\/td>\nBuy<\/td>\nMacquarie<\/td>\n<\/tr>\n
7<\/td>\nREGIS RESOURCES LIMITED<\/a><\/td>\nNeutral<\/td>\nBuy<\/td>\nCiti<\/td>\n<\/tr>\n
8<\/td>\nSENEX ENERGY LIMITED<\/a><\/td>\nSell<\/td>\nNeutral<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
9<\/td>\nWASHINGTON H SOUL PATTINSON & COMPANY LIMITED<\/a><\/td>\nNeutral<\/td>\nBuy<\/td>\nMorgans<\/td>\n<\/tr>\n
Downgrade<\/td>\n<\/tr>\n
10<\/td>\nBC IRON LIMITED<\/a><\/td>\nNeutral<\/td>\nSell<\/td>\nMacquarie<\/td>\n<\/tr>\n
11<\/td>\nDULUX GROUP LIMITED<\/a><\/td>\nBuy<\/td>\nNeutral<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
12<\/td>\nIINET LIMITED<\/a><\/td>\nBuy<\/td>\nNeutral<\/td>\nMorgans<\/td>\n<\/tr>\n
13<\/td>\nKATHMANDU HOLDINGS LIMITED<\/a><\/td>\nBuy<\/td>\nNeutral<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
14<\/td>\nMYER HOLDINGS LIMITED<\/a><\/td>\nNeutral<\/td>\nSell<\/td>\nCiti<\/td>\n<\/tr>\n
15<\/td>\nMYER HOLDINGS LIMITED<\/a><\/td>\nNeutral<\/td>\nSell<\/td>\nDeutsche Bank<\/td>\n<\/tr>\n
16<\/td>\nTPG TELECOM LIMITED<\/a><\/td>\nNeutral<\/td>\nSell<\/td>\nCiti<\/td>\n<\/tr>\n
17<\/td>\nWESFARMERS LIMITED<\/a><\/td>\nBuy<\/td>\nNeutral<\/td>\nMorgan Stanley<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\u00a0<\/div>\n<\/div>\n
\n

Recommendation<\/h2>\n
\n

Positive Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n
Order<\/th>\nSymbol<\/th>\nCompany<\/th>\nPrevious Rating<\/th>\nNew Rating<\/th>\nChange<\/th>\nRecs<\/th>\n<\/tr>\n<\/thead>\n
1<\/td>\nSXY<\/a><\/td>\nSENEX ENERGY LIMITED<\/td>\n50.0%<\/td>\n67.0%<\/td>\n17.0%<\/td>\n6<\/td>\n<\/tr>\n
2<\/td>\nOZL<\/a><\/td>\nOZ MINERALS LIMITED<\/td>\n50.0%<\/td>\n63.0%<\/td>\n13.0%<\/td>\n8<\/td>\n<\/tr>\n
3<\/td>\nBSL<\/a><\/td>\nBLUESCOPE STEEL LIMITED<\/td>\n75.0%<\/td>\n88.0%<\/td>\n13.0%<\/td>\n8<\/td>\n<\/tr>\n
4<\/td>\nRRL<\/a><\/td>\nREGIS RESOURCES LIMITED<\/td>\n25.0%<\/td>\n38.0%<\/td>\n13.0%<\/td>\n8<\/td>\n<\/tr>\n
5<\/td>\nBHP<\/a><\/td>\nBHP BILLITON LIMITED<\/td>\n38.0%<\/td>\n50.0%<\/td>\n12.0%<\/td>\n8<\/td>\n<\/tr>\n
6<\/td>\nIIN<\/a><\/td>\nIINET LIMITED<\/td>\n13.0%<\/td>\n25.0%<\/td>\n12.0%<\/td>\n8<\/td>\n<\/tr>\n
7<\/td>\nTOL<\/a><\/td>\nTOLL HOLDINGS LIMITED<\/td>\n– 25.0%<\/td>\n– 14.0%<\/td>\n11.0%<\/td>\n7<\/td>\n<\/tr>\n
8<\/td>\nMND<\/a><\/td>\nMONADELPHOUS GROUP LIMITED<\/td>\n– 57.0%<\/td>\n– 50.0%<\/td>\n7.0%<\/td>\n6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n

Negative Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Order<\/th>\nSymbol<\/th>\nCompany<\/th>\nPrevious Rating<\/th>\nNew Rating<\/th>\nChange<\/th>\nRecs<\/th>\n<\/tr>\n<\/thead>\n
1<\/td>\nMYR<\/a><\/td>\nMYER HOLDINGS LIMITED<\/td>\n– 13.0%<\/td>\n– 38.0%<\/td>\n– 25.0%<\/td>\n8<\/td>\n<\/tr>\n
2<\/td>\nSGH<\/a><\/td>\nSLATER & GORDON LIMITED<\/td>\n100.0%<\/td>\n75.0%<\/td>\n– 25.0%<\/td>\n4<\/td>\n<\/tr>\n
3<\/td>\nKMD<\/a><\/td>\nKATHMANDU HOLDINGS LIMITED<\/td>\n40.0%<\/td>\n20.0%<\/td>\n– 20.0%<\/td>\n5<\/td>\n<\/tr>\n
4<\/td>\nMTR<\/a><\/td>\nMANTRA GROUP LIMITED<\/td>\n50.0%<\/td>\n33.0%<\/td>\n– 17.0%<\/td>\n3<\/td>\n<\/tr>\n
5<\/td>\nBCI<\/a><\/td>\nBC IRON LIMITED<\/td>\n– 50.0%<\/td>\n– 67.0%<\/td>\n– 17.0%<\/td>\n3<\/td>\n<\/tr>\n
6<\/td>\nWES<\/a><\/td>\nWESFARMERS LIMITED<\/td>\n– 25.0%<\/td>\n– 38.0%<\/td>\n– 13.0%<\/td>\n8<\/td>\n<\/tr>\n
7<\/td>\nSGT<\/a><\/td>\nSINGAPORE TELECOMMUNICATIONS LIMITED<\/td>\n60.0%<\/td>\n50.0%<\/td>\n– 10.0%<\/td>\n4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\u00a0<\/div>\n<\/div>\n
\n

Target Price<\/h2>\n
\n

Positive Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n
Order<\/th>\nSymbol<\/th>\nCompany<\/th>\nPrevious Target<\/th>\nNew Target<\/th>\nChange<\/th>\nRecs<\/th>\n<\/tr>\n<\/thead>\n
1<\/td>\nIIN<\/a><\/td>\nIINET LIMITED<\/td>\n7.118<\/td>\n8.698<\/td>\n22.20%<\/td>\n8<\/td>\n<\/tr>\n
2<\/td>\nTOL<\/a><\/td>\nTOLL HOLDINGS LIMITED<\/td>\n8.128<\/td>\n8.514<\/td>\n4.75%<\/td>\n7<\/td>\n<\/tr>\n
3<\/td>\nBSL<\/a><\/td>\nBLUESCOPE STEEL LIMITED<\/td>\n5.778<\/td>\n5.954<\/td>\n3.05%<\/td>\n8<\/td>\n<\/tr>\n
4<\/td>\nOZL<\/a><\/td>\nOZ MINERALS LIMITED<\/td>\n4.966<\/td>\n5.091<\/td>\n2.52%<\/td>\n8<\/td>\n<\/tr>\n
5<\/td>\nMTR<\/a><\/td>\nMANTRA GROUP LIMITED<\/td>\n3.345<\/td>\n3.417<\/td>\n2.15%<\/td>\n3<\/td>\n<\/tr>\n
6<\/td>\nKMD<\/a><\/td>\nKATHMANDU HOLDINGS LIMITED<\/td>\n1.707<\/td>\n1.727<\/td>\n1.17%<\/td>\n5<\/td>\n<\/tr>\n
7<\/td>\nSXY<\/a><\/td>\nSENEX ENERGY LIMITED<\/td>\n0.453<\/td>\n0.458<\/td>\n1.10%<\/td>\n6<\/td>\n<\/tr>\n
8<\/td>\nBHP<\/a><\/td>\nBHP BILLITON LIMITED<\/td>\n35.450<\/td>\n35.513<\/td>\n0.18%<\/td>\n8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n

Negative Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n
Order<\/th>\nSymbol<\/th>\nCompany<\/th>\nPrevious Target<\/th>\nNew Target<\/th>\nChange<\/th>\nRecs<\/th>\n<\/tr>\n<\/thead>\n
1<\/td>\nMYR<\/a><\/td>\nMYER HOLDINGS LIMITED<\/td>\n1.845<\/td>\n1.479<\/td>\n– 19.84%<\/td>\n8<\/td>\n<\/tr>\n
2<\/td>\nRRL<\/a><\/td>\nREGIS RESOURCES LIMITED<\/td>\n1.778<\/td>\n1.640<\/td>\n– 7.76%<\/td>\n8<\/td>\n<\/tr>\n
3<\/td>\nMND<\/a><\/td>\nMONADELPHOUS GROUP LIMITED<\/td>\n9.937<\/td>\n9.192<\/td>\n– 7.50%<\/td>\n6<\/td>\n<\/tr>\n
4<\/td>\nBCI<\/a><\/td>\nBC IRON LIMITED<\/td>\n0.463<\/td>\n0.437<\/td>\n– 5.62%<\/td>\n3<\/td>\n<\/tr>\n
5<\/td>\nSGH<\/a><\/td>\nSLATER & GORDON LIMITED<\/td>\n8.080<\/td>\n7.923<\/td>\n– 1.94%<\/td>\n4<\/td>\n<\/tr>\n
6<\/td>\nWES<\/a><\/td>\nWESFARMERS LIMITED<\/td>\n43.165<\/td>\n42.540<\/td>\n– 1.45%<\/td>\n8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\u00a0<\/div>\n<\/div>\n
\n

Earning Forecast<\/h2>\n
\n

Positive Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Order<\/th>\nSymbol<\/th>\nCompany<\/th>\nPrevious EF<\/th>\nNew EF<\/th>\nChange<\/th>\nRecs<\/th>\n<\/tr>\n<\/thead>\n
1<\/td>\nOZL<\/a><\/td>\nOZ MINERALS LIMITED<\/td>\n12.209<\/td>\n14.221<\/td>\n16.48%<\/td>\n8<\/td>\n<\/tr>\n
2<\/td>\nSIP<\/a><\/td>\nSigma Pharmaceuticals Ltd<\/td>\n4.823<\/td>\n5.310<\/td>\n10.10%<\/td>\n7<\/td>\n<\/tr>\n
3<\/td>\nAWC<\/a><\/td>\nALUMINA LIMITED<\/td>\n10.957<\/td>\n11.219<\/td>\n2.39%<\/td>\n8<\/td>\n<\/tr>\n
4<\/td>\nBHP<\/a><\/td>\nBHP BILLITON LIMITED<\/td>\n186.684<\/td>\n191.073<\/td>\n2.35%<\/td>\n8<\/td>\n<\/tr>\n
5<\/td>\nALL<\/a><\/td>\nARISTOCRAT LEISURE LIMITED<\/td>\n34.351<\/td>\n35.094<\/td>\n2.16%<\/td>\n7<\/td>\n<\/tr>\n
6<\/td>\nWOW<\/a><\/td>\nWOOLWORTHS LIMITED<\/td>\n194.064<\/td>\n196.189<\/td>\n1.09%<\/td>\n8<\/td>\n<\/tr>\n
7<\/td>\nIPL<\/a><\/td>\nINCITEC PIVOT LIMITED<\/td>\n23.175<\/td>\n23.350<\/td>\n0.76%<\/td>\n8<\/td>\n<\/tr>\n
8<\/td>\nHZN<\/a><\/td>\nHORIZON OIL LIMITED<\/td>\n2.152<\/td>\n2.160<\/td>\n0.37%<\/td>\n3<\/td>\n<\/tr>\n
9<\/td>\nRIO<\/a><\/td>\nRIO TINTO LIMITED<\/td>\n448.201<\/td>\n449.831<\/td>\n0.36%<\/td>\n8<\/td>\n<\/tr>\n
10<\/td>\nCSL<\/a><\/td>\nCSL LIMITED<\/td>\n336.614<\/td>\n337.838<\/td>\n0.36%<\/td>\n8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n

Negative Change Covered by > 2 Brokers<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Order<\/th>\nSymbol<\/th>\nCompany<\/th>\nPrevious EF<\/th>\nNew EF<\/th>\nChange<\/th>\nRecs<\/th>\n<\/tr>\n<\/thead>\n
1<\/td>\nMYR<\/a><\/td>\nMYER HOLDINGS LIMITED<\/td>\n15.171<\/td>\n12.939<\/td>\n– 14.71%<\/td>\n8<\/td>\n<\/tr>\n
2<\/td>\nORL<\/a><\/td>\nOROTONGROUP LIMITED<\/td>\n14.810<\/td>\n13.720<\/td>\n– 7.36%<\/td>\n4<\/td>\n<\/tr>\n
3<\/td>\nFMG<\/a><\/td>\nFORTESCUE METALS GROUP LTD<\/td>\n20.998<\/td>\n19.735<\/td>\n– 6.01%<\/td>\n8<\/td>\n<\/tr>\n
4<\/td>\nMMS<\/a><\/td>\nMCMILLAN SHAKESPEARE LIMITED<\/td>\n93.030<\/td>\n90.267<\/td>\n– 2.97%<\/td>\n3<\/td>\n<\/tr>\n
5<\/td>\nPNA<\/a><\/td>\nPANAUST LIMITED<\/td>\n3.125<\/td>\n3.045<\/td>\n– 2.56%<\/td>\n8<\/td>\n<\/tr>\n
6<\/td>\nBSL<\/a><\/td>\nBLUESCOPE STEEL LIMITED<\/td>\n26.629<\/td>\n26.041<\/td>\n– 2.21%<\/td>\n8<\/td>\n<\/tr>\n
7<\/td>\nENE<\/a><\/td>\nENERGY DEVELOPMENTS LIMITED<\/td>\n34.622<\/td>\n33.955<\/td>\n– 1.93%<\/td>\n6<\/td>\n<\/tr>\n
8<\/td>\nWES<\/a><\/td>\nWESFARMERS LIMITED<\/td>\n219.765<\/td>\n216.640<\/td>\n– 1.42%<\/td>\n8<\/td>\n<\/tr>\n
9<\/td>\nJHX<\/a><\/td>\nJAMES HARDIE INDUSTRIES N.V.<\/td>\n59.533<\/td>\n58.870<\/td>\n– 1.11%<\/td>\n8<\/td>\n<\/tr>\n
10<\/td>\nRRL<\/a><\/td>\nREGIS RESOURCES LIMITED<\/td>\n14.241<\/td>\n14.091<\/td>\n– 1.05%<\/td>\n8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\u00a0<\/div>\n<\/div>\n
\n

Technical limitations<\/strong><\/p>\n

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

Find out why FNArena 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 earnings forecast changes.<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/64916"}],"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\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=64916"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/64916\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=64916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=64916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=64916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}