MARKETS SPECTATOR: Brokers caught behind the 8-ball

Bradken's surprising earnings results have suddenly seen brokers jump on the bandwagon. Others are now trying to catch up.

Following yesterday’s better-than-expected first half, Bradken has been upgraded by no less than four brokers this morning. As of yesterday, only seven out of 17 brokers had a buy rating on the stock and now those that were caught behind are trying to play catch up.

Macquarie and Credit Suisse have both upgraded the global supplier of differentiated consumable and capital products to outperform from neutral, with target prices of $7.25 and $7.35 respectively.

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