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Weekly Ratings, Targets, Forecast Changes - 23-07-21


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: 11
Net Ratings Breakdown: Buy 53.92%; Hold 38.91%; Sell 7.17%
For the week ending Friday 23 July, there were eleven upgrades and eleven downgrades to ASX-listed companies by brokers in the FNArena database. ....

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Wyangala Dam: Leaked cabinet document stokes Wyangala Dam doubts


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The Murray-Darling Basin’s biggest dam project needs 80 per cent of its costs to be subsidised by governments given its “small net benefits” and large cost, a leaked NSW cabinet document reveals.
The 2019 Coalition election commitment to raise Wyangala Dam’s wall 10 metres was “a significant project” but one that would do little to improve water security in the Lachlan Valley, the Department of Industry’s assessment for the returned government states.
Wyangala Dam in central NSW is currently about 60 per cent full. The federal and NSW governments want to increase the dam’s capacity to boost water security in the Lachlan Valley, although a cabinet document suggests the gains will not be significant despite the hefty price tag. ....

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Battle over Wyangala Dam and its downstream impacts is just beginning


Battle over Wyangala Dam and its downstream impacts is just beginning
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On a summer’s evening, as the setting sun paints a flock of straw-necked ibises a glowing pink as they wing their way over Lake Cowal, it’s not hard to imagine Mal Carnegie has landed a dream job.
As manager of a conservation centre monitoring NSW’s largest inland natural freshwater lake, the 56-year old gets to introduce visitors to one of Australia’s greatest “boom-bust” wildlife systems that has thrilled him all his life. ....

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