HALISTER1: Challenger, Carsales.com, Super Retail: Australia Analyst Wrap

Challenger, Carsales.com, Super Retail: Australia Analyst Wrap

(Bloomberg) -- The following are among the most noteworthy analyst research notes for Australia and New Zealand investors:
  • Market ‘Too Bullish’ on Lifetime Annuities at Challenger: Morgan Stanley
    • Portfolio heavy in short-term annuities leaves co. vulnerable on margins and growth, analysts led by Daniel Toohey write in July 25 note
    • Cuts to underweight; PT lowered to A$11.50 from A$12
UPGRADES:
  • Bendigo and Adelaide raised to neutral at Citi
  • Sky TV Network raised to buy at Morningstar
DOWNGRADES:
  • WiseTech cut to neutral at Citi
  • Carsales.com cut to neutral at Credit Suisse, PT raised to A$12.60 from A$12
  • Super Retail cut to underperform at Credit Suisse, PT cut to A$7.50 from A$7.56
INITIATION:
  • Ellex Medical Lasers new buy at Bell Potter, PT at A$1.92
To contact the reporter on this story: Matthew Burgess in Sydney at mburgess46@bloomberg.net To contact the editors responsible for this story: Edward Johnson at ejohnson28@bloomberg.net Jonathan Annells

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Daniel Toohey (Morgan Stanley)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283