{"id":4402,"date":"2024-01-15T18:40:03","date_gmt":"2024-01-15T18:40:03","guid":{"rendered":"https:\/\/economicherald.net\/?p=4402"},"modified":"2024-01-15T18:40:03","modified_gmt":"2024-01-15T18:40:03","slug":"2024-all-the-latest-broker-moves","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=4402","title":{"rendered":"2024: All the latest broker moves"},"content":{"rendered":"

UPGRADES
\nJanuary 2 \u2013 January 12<\/p>\n

The Lottery Corporation (ASX:TLC)<\/a> Upgrade to Accumulate from Hold \u2014 Ord Minnett
\nWe\u2019re tacking this one on despite Ord Minnett releasing the note just before the New Year.<\/p>\n

The broker likes TLC\u2019s consolidated, market leading position, saying it looks set to dominate local lotteries for some time. That said, sales volumes have been abnormally soft, the broker concedes.<\/p>\n

Ord expects a fairly tame first half H1 performance, estimated -7% below last year\u2019s performance. Oz Lotto, with sales down -20%, is the biggest drag to date, points out the broker.<\/p>\n

Price Target remains at $5.<\/p>\n

\u00a0<\/p>\n

JB HiFi (ASX:JBH)<\/strong><\/a> Upgrade to Neutral from Underperform \u2014 Macquarie<\/strong><\/p>\n

Macquarie has conceded that its own assumptions for consumer spending were off the mark, following this week\u2019s surge in retail trade data.<\/p>\n

The broker says with this in mind, JBH remains best in class of the dual whitegoods retailers. JBH has a superior cost structure which has so far fended off the wannabes from Kogan to Harvey Norman.<\/p>\n

The broker lifts its forecasts by between 7-8% for the long term outlook. PT also lifts to $55 from $45.<\/p>\n

\u00a0<\/p>\n

CEH \u2013 Coast Entertainment Upgrade to Accumulate from Hold \u2014 Ord Minnett<\/strong><\/p>\n

(January 3) Ord Minnett says shares in the former Ardent Leisure (ASX:ALG)<\/strong><\/a>, (hello, Coast Entertainment!), are remaining stifled and wallow well below Ord\u2019s Price Target of 60 cents \u2013 a rare opportunity, Ord reckons.<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

DOWNGRADES<\/h2>\n

January 2 \u2013 January 12<\/h2>\n

\u00a0<\/p>\n

CSR (ASX:CSR)<\/strong><\/a> Downgrade to Sell from Hold \u2014 Ord Minnett<\/strong><\/p>\n

Insurance Australia (ASX:IAG)<\/strong><\/a> Downgrade to Hold from Add \u2014 Morgans<\/strong><\/p>\n

Judo Capital Holdings (ASX:JDO)<\/strong><\/a> Downgrade to Hold from Accumulate \u2014 Ord Minnett<\/strong><\/p>\n

Magellan Financial Group (ASX:MFG)<\/strong><\/a> Downgrade to Sell from Neutral \u2014 Citi<\/strong><\/p>\n

The broker is among many voices unwilling to let their guard down on MFG. Citi sees a lot of Christmas in MFG\u2019s stock price rally, although the PT\u00a0 lifted $8.10 from $7 on higher forecasts, though the stock is Downgraded to Sell from Neutral.<\/p>\n

Motorcycle Holdings (ASX:MTO)<\/strong><\/a> Downgrade to Hold from Add \u2014 Morgans<\/strong><\/p>\n

NextDC (ASX:NXT)<\/strong><\/a> Downgrade to Lighten from Hold \u2014 Ord Minnett<\/strong><\/p>\n

Probiotec (ASX:PBP)<\/strong><\/a> Downgrade to Hold from Add \u2014 Morgans<\/strong><\/p>\n

Challenger (ASX:CGF)<\/a> Downgrade to Hold from Accumulate \u2014 Ord Minnett<\/strong><\/p>\n

Ord Minnett lowers the rating for Challenger while retaining the PT of $7.30.<\/p>\n

The broker likes CGF\u2019s growing boutique funds management arm, although the business depends on annuities and high sales growth to offset recurring annuity payments obligations, so it\u2019s a little high risk.<\/p>\n

Sims Metal Management (ASX:SGM)<\/strong><\/a> Downgrade to Sell from Neutral \u2014 Citi<\/strong><\/p>\n

Bendigo and Adelaide Bank (ASX:BEN)<\/a> Downgrade to Sell from Neutral \u2014 Citi<\/strong><\/p>\n

Bank of Queensland (ASX:BOQ)<\/a> Downgrade to Sell from Neutral \u2014 Citi<\/strong><\/p>\n

Healius (ASX:HLS)<\/a> Downgrade to Underweight from Equal-weight \u2014 Morgan Stanley<\/strong><\/p>\n

Insignia Financial (ASX:IFL)<\/a> Downgrade to Underweight from Equal-weight \u2014 Morgan Stanley<\/strong><\/p>\n

Alumina (ASX:AWC)<\/a> Downgrade to Neutral from Buy \u2014 Citi<\/strong><\/p>\n

On Thursday AWC stock surged enough for Citi analysts to reappraise their long-held AWC position. As the stock jumps, the broker accepts the risk of higher aluminium prices and has lifted the PT by 5 cents to $1.15.<\/p>\n

ASX (ASX:ASX)<\/a> Downgrade to Neutral from Outperform \u2014 Macquarie<\/strong><\/p>\n

\u00a0<\/p>\n

<\/span><\/p>\n

The post 2024: All the latest broker moves<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

UPGRADES January 2 \u2013 January 12 The Lottery Corporation (ASX:TLC) Upgrade to Accumulate from Hold \u2014 Ord Minnett We\u2019re tacking this one on despite Ord [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":4403,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n2024: All the latest broker moves - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=4402\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024: All the latest broker moves - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"UPGRADES January 2 \u2013 January 12 The Lottery Corporation (ASX:TLC) Upgrade to Accumulate from Hold \u2014 Ord Minnett We\u2019re tacking this one on despite Ord [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=4402\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-15T18:40:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/01\/GettyImages-4825658121-gt66k9.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=4402#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=4402\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"2024: All the latest broker moves\",\"datePublished\":\"2024-01-15T18:40:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=4402\"},\"wordCount\":527,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=4402#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/GettyImages-4825658121-gt66k9.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=4402#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=4402\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=4402\",\"name\":\"2024: All the latest broker moves - 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