broker tips: recommendation changes

BROKER TIPS: Recommendation changes

COMPANY RECOMMENDATION

Adelaide Bank Jan 21 CSFB: Upgrade to neutral from underperform

Alumina Dec 5 JBWere: From no recommendation to outperform

Alintagas Feb 7 ABN AMRO: Upgrade to buy from hold

Amalgamated Holdings Feb 12 CSFB: Upgrade to outperform from neutral

Ambri Dec 23 Macquarie Equities: Downgrade to hold from buy

Aristocrat Feb 10 ABN AMRO: Downgrade to sell from hold

AMP Dec 24 JBWere: Maintain s/t marketperform and l/t hold

AMP Industrial Trust Jan 31 JBWere: Downgrade to hold from buy

AMP Office Trust Feb 5 JP Morgan: Downgrade to neutral from overweight

AMP Shopping Centre Trust Jan 31 Deutsche Bank: Upgrade to hold from sell
Feb 5 JP Morgan: Upgrade to overweight from neutral

APN News & Media Jan 8 UBS Warburg: Downgrade from buy to hold
Feb 4 Macquarie Equities: Upgrade s/t to hold from sell

ANZ Bank Jan 31 Deutsche Bank: Downdrade to market perform from outperform

Austal Dec 5 ABN Amro: Upgrade to add from hold

Austereo Dec 5 JBWere: Downgrade s/t to marketperform from outperform
Feb 13 CSFB: Upgrade to neutral from underperform

Australand Holdings Jan 31 Macquarie Equities: Upgrade to outperform from marketperform

ASX Dec 6 JBWere: Downgrade s/t from to marketperform from outperform

AWB Dec 23 UBS Warburg: Downgrade to buy from strong buy

BHP Billiton Jan 7 JBWere: Downgrade s/t to underperform from marketperform

Billabong Dec 11 Macquarie Equities: Upgrade to s/t buy

Boral Feb 13 JP Morgan: Upgrade to outperform from neutral

BRL Hardy Jan 15 CSFB: Downgrade to neutral from outperform
Dec 2 UBS Warburg: Upgrade to neutral from outperform

Centennial Coal Jan 31 JP Morgan: Upgrade to overweight from neutral

Centro Properties Feb 5 Deutsche Bank: Upgrade to hold from sell

Cochlear Dec 9 CSFB: Downgrade to neutral from outperform

Coles Myer Feb 7 CSFB: Downgrade to underperform from neutral

Collection House Feb 10 ABN AMRO: Upgrade to buy from hold

Computershare Dec 3 CSFB: Downgrade to neutral from outperform

Crane Group Jan 9 UBS Warburg: Downgrade to hold from buy

CSL Dec 4 JBWere: Downgrade s/t to reduce from hold
Feb 3 ABN AMRO: Upgrade to add from hold

Fairfax (John) Holdings Jan 29 UBS Warburg: Upgrade to buy from neutral
Feb 13 JB Were: Upgrade to outperform from marketperform

Foster's Group Feb 11 ABN AMRO: Upgrade to buy from add

Futuris Jan 28 Macquarie Equities: Upgrade to buy from hold
Feb 5 Macquarie Equities: Downgrade to marketperform from outperform

General Property Trust Jan 31 Deutsche Bank: Upgrade to hold from sell

GWA International Feb 4 ABN AMRO: Upgrade to add from hold
Feb 7 CSFB: Downgrade to underperform from neutral

GUD Holdings Dec 11 Macquarie Equities: Downgrade to s/t hold

Gunns Dec 4 UBS Warburg: Upgrade to buy from hold

Harvey Norman Feb 11 UBS Warburg: Upgrade to buy from neutral

Healthscope Feb 3 Deutsche Bank: Upgrade to buy from hold

ING Industrial Fund Jan 31 Deutsche Bank: Downgrade to sell from hold

Jupiters Jan 8 Deutsche Bank: Downgrade to hold from buy
Feb 4 ABN AMRO: Downgrade to hold from buy

Leighton Holdings Feb 10 Macquarie Equities: Downgrade to marketperform from outperform

Lend Lease Jan 24 JB Were: Downgrade s/t to marketperform from outperform and l/t to hold from buy
Jan 31 ABN AMRO: Upgrade to buy from hold
Feb 18 UBS Warburg: Upgrade to buy from neutral

Lend Lease US Office Dec 6 UBS Warburg: Upgrade to buy from hold
Jan 31 Deutsche Bank: Upgrade to buy from hold

Macarthur Coal Feb 5 ABN AMRO: Downgrade to hold from add
Jan 31 ABN AMRO: Downgrade to hold from add

Macquarie Countrywide Trust Jan 31 Deutsche Bank: Downgrade to sell from hold

Macquarie Goodman Industrial Trust Jan 31 Deutsche Bank: Downgrade to sell from hold

Macquarie Infrastructure Group Jan 31 Macquarie Equities: Downgrade to neutral from overweight

Macquarie Office Trust Jan 9 JP Morgan: Upgrade to overweight from neutral
Jan 31 Deutsche Bank: Upgrade to buy from hold

Mayne Group Feb 3 Deutsche Bank: Upgrade to buy from hold

MIA Group Dec 11 Macquarie Equities: Upgrade to s/t buy

News Corp Feb 11 UBS Warburg: Upgrade to buy from neutral

Orica Feb 4 JB Were: Downgrade s/t to underperform from marketperform
Feb 4 Macquarie Equities: Downgrade s/t to hold from buy

Paperlinx Feb 14 CSFB: Downgrade to underperform from neutral

Patrick Corp Feb 11 Deutsche Bank: Upgrade to buy from hold

Portman Dec 11 Macquarie Equities: Downgrade to s/t underperform
Dec 10 JBWere: Downgrade s/t to underperform from hold

Powerco Feb 5 Macquarie Equities: Downgrade to marketperform from outperform

Prime Television Jan 10 UBS Warburg: Downgrade to hold from buy
Dec 13 JBWere: Upgrade s/t to outperform from marketperform

PBL Jan 9 UBS Warburg: Downgrade to hold from buy

QBE Insurance Feb 7 Macquarie Equities: Upgrade to strong outperform from outperform
Feb 7 ABN AMRO: Upgrade to add from buy

Seven Network Feb 14 CSFB: Upgrade to outperform from neutral

Simsmetal Dec 4 UBS Warburg: Downgrade to hold from buy

SMS Management & Technology Dec 11 Macquarie Equities: Downgrade to s/t hold

Smorgon Steel Dec 10 JBWere: Downgrade s/t to hold from buy

Southern Cross Broadcasting Jan 10 UBS Warburg: Downgrade to hold from buy

Spotless Feb 5 CSFB: Upgrade to outperform from neutral

Stockland Trust Dec 3 JBWere: Downgrade to underperform from marketperform

TAB Dec 2 CSFB: Upgrade to outperform from neutral

Tabcorp Jan 9 CSFB: Downgrade to neutral from outperform
Dec 5 JBWere: Downgrade s/t to hold from accumulate

Transfield Services Jan 9 UBS Warburg: Downgrade to buy from strong buy

UniTAB Feb 3 Deutsche Bank: Upgrade to hold from sell
Jan 31 ABN AMRO: Downgrade to add from buy

United Energy Jan 29 JP Morgan: Upgrade to neutral from underweight

Village Roadshow Feb 14 CSFB: Downgrade to neutral from outperform

Wattyl Feb 5 Macquarie Equities: Downgrade to marketperform from outperform

Wesfarmers Feb 11 Deutsche Bank: Downgrade to hold from buy

WMC Resources Dec 6 JBWere: From no classification to outperform
Feb 7 JP Morgan: Upgrade to neutral from underperform

West Australian Newspapers Feb 7 Merrill Lynch: Upgrade to buy from neutral

Westpac Bank Jan 7 UBS Warburg: Upgrade to buy from hold

Woolworths Jan 29 UBS Warburg: Downgrade to neutral from buy
Jan 29 CSFB: Downgrade to neutral from outperform