Broker Recommendations

This centre shows the latest broker recommendations across the market by date. You can sort the recommendations using the options in the drop down menu and even filter to show particular brokers’ recommendations. For recent broker news stories click on the ‘Tips in the News’ tab.

Broker recommendations are made by brokerage firms (for example, JP Morgan) and are not an outright recommendation to buy or sell a share, but instead give an indication of how the broker thinks the company will perform relative to its sector.

Their recommendations are issued over a particular period of time. The recommendations provided in the Research Centre are shown on a 75 day rolling basis. Each brokerage firm has its own way of rating that may make it difficult to compare broker recommendations between the brokerage houses.

For example, at one brokerage "buy" may be the strongest recommendation, while at another "buy" could be second to a "strong buy" rating. The second-highest ratings also have a number of different other names: "accumulate", "outperform", "moderate buy" or "overweight".Broker information is updated on a daily basis before 10am and often again by 3pm. The average recommendation that you see uses all recommendations made in the last 75 days. However, you can see a history of individual recommendations going back much further than 75 days on the individual company pages.

What the Recommendations Mean

Buy, Strong Buy

These recommendations indicate that the covering analyst recommends a particular company. However, it doesn't mean that the broker necessarily recommends that you buy shares in the company. Instead, it means that if you are already considering companies of the same sector, then this is a good one to consider and you should think about balancing your portfolio so you hold more shares of this particular company.

These types of recommendations also indicate that the total return on equity is expected to increase by 10% or greater over the average total return of a sector or index for the coverage period.

Outperform, Moderate Buy, Accumulate, Over-weight, Add, Market Perform

As above, these types of recommendations indicate that the covering analyst recommends a particular company. However, again, it doesn't mean that the broker necessarily recommends that you buy shares in the company. Instead, it means that if you are already considering companies of the same sector, then this is a good one to consider and you should think about balancing your portfolio so you hold more shares of this particular company.

For the above recommendations, total return on equity is expected to increase by 5% -10% . Over the average total return of the sector or index that the company is a part of for the coverage period.

Hold, Neutral, In-line, Equal-weight

These recommendations indicate that holdings in a particular company should be equal to other holdings in that sector. Again, this only applies if you are already investing or considering investing in that particular sector.

Total return on equity is expected to have a variation of +5% - (-5%) over the average total return of the sector or index that the company is a part of for the coverage period.

Underperform, Moderate Sell, Weak Hold, Under-weight, Reduce

If you are holding companies in a particular sector, then one with any of the above recommendations is one that you should consider holding less of. Again, it doesn't mean that you should sell all your shares in that company, but that you should consider rebalancing your portfolio so that less is concentrated in that particular company.

The total return on equity is expected to decrease by 5% - 10% over the average total return of the sector or index that the company is a part of for the coverage period.

Sell, Strong sell

As above, if you are holding companies in a particular sector, then one with any of the above recommendations is one that you should consider holding less of. Again, it doesn't mean that you should sell all your shares in that company, but that you should consider rebalancing your portfolio so that less is concentrated in that particular company.

The total return on equity is expected to decrease by 10% or greater over the average total return of the sector or index that the company is a part of for the coverage period.