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By Mark Woodruff
Guide:
The FNArena database tabulates the views of seven major Australian and international stock brokers: Citi, Credit Suisse, Macquarie, Morgan Stanley, Morgans, Ord Minnett and UBS.
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.
Ratings, consensus target price and forecast earnings tables are published at the bottom of this report.
Summary
Total Upgrades: 8
Net Ratings Breakdown: Buy 53.80%; Hold 39.20%; Sell 6.99%
For the week ending Friday 9 July, there were eight upgrades and eleven downgrades to ASX-listed companies by brokers in the FNArena database.
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A glance through the latest expert views and predictions about commodities: energy & metals, thermal coal; battery minerals; nickel; and alumina
-As mobility improves demand for energy will increase and spending on durable goods will soften
-Gradual decline in thermal coal prices expected, back to cost support by 2023
-Australian producers increasingly favoured for lithium supply
-Rise in nickel demand for stainless production turns market to deficit
-Alumina needs supply disruptions to keep pace with aluminium price
By Eva Brocklehurst
Morgan Stanley assesses the outlook for commodities favours
energy over metals, a reversal of the relative performance since the outbreak of coronavirus. Metals have outperformed energy commodities as energy demand suffered considerably from a decline in mobility.
By Mark Woodruff
Guide:
The FNArena database tabulates the views of seven major Australian and international stock brokers: Citi, Credit Suisse, Macquarie, Morgan Stanley, Morgans, Ord Minnett and UBS.
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.
Ratings, consensus target price and forecast earnings tables are published at the bottom of this report.
Summary
Total Upgrades: 3
Net Ratings Breakdown: Buy 54.08%; Hold 38.92%; Sell 7.00%
For the week ending Friday 2 July, there were three upgrades and thirteen downgrades to ASX-listed companies by brokers in the FNArena database.