Australian Shares Recommendations

United Group (UGL) retained a neutral rating from Australian stock analyst Macquarie Research Equities.

United Group (UGL) Wins $270m of New Contracts

$100m Contract with Melbourne Water:

UGL Infrastructure and partners have signed a 5 year, $260m (UGL share $100m) contract with Melbourne Water for the upgrade of MW's Eastern and Western sewerage treatment plants and associated pump stations.

$170m Resources Work:

Insurance Aust Group (IAG) update from Australian stock analyst Macquarie Research Equities.

Insurance Aust Group (IAG) New CEO called up from the bench

Event: CEO change:

IAG today announced that Mike Hawker had resigned as CEO, effective immediately, citing a lack of support from several shareholders. Mike Wilkins is the new CEO, having been COO and board member since November 2007, when he joined the company.

Impact: More change likely:

Westpac Banking Corporation (WBC) has a price target of $25.90 from Australian stock analyst UBS.

Westpac Banking Corporation (WBC) SGB MIA - "a growth agenda"

No surprises in the WBC/SGB Merger Implementation Agreement (MIA):

Aristocrat Leisure (ALL) has a target price of $8.80 from stockmarket analyst Macquarie Research Equities.

Aristocrat Leisure Ltd (ALL): Cutting Back in Australia

Lowering Australian replacement sales — On the back of ongoing weak trends in the very large NSW club and hotel market, driven by impact of smoke-free gaming on venues, we have lowered unit sales to roughly equal to those achieved in FY07, and have taken a more conservative view in forward years.

Insurance Australia (IAG) has a target price of $3.83 and an under-perform recommendation on the stock from Australian Stockmarket analyst Macquarie Research Equities.

Insurance Australia (IAG): In A Grind

IAG’s CEO, Michael Hawker, has announced his resignation on the back of a loss of key institutional support. His replacement is COO and former Promina CEO, Mr Mike Wilkins. Macquarie Research Equities (MRE) discusses the impacts of this move for the company and the implications of IAG’s global operational review in early July.

The Impact

Babcock & Brown (BNB) has a $25.00 share price target from Australian stockmarket analysts from Citi.

Babcock & Brown (BNB) Reputation damage

BBP refinancing shortfall and "mis-communication":

Brambles (BXB) has a share price target of $9.20 from Australian stockmarket analyst Macquarie Research Equities.

Brambles (BXB) Fuel cost pressures likely to hurt Crown

30% rise in pump prices will hurt CHEP Europe:

Macquarie Research Equities (MRE) highlighted some of the recent impacts experienced by the Australian Banking Sector.

Banking Sector – Westpac (WBC) Looks to Slay the Dragon

The Strain of rising interest rates, spiking inflationary pressure and low levels of consumer sentiment seemed to take its toll on the Aussie banks last week as they underperformed the market by 4.3%. Macquarie Research Equities (MRE) discusses the key highlights of the week and the implications for the sector. With the exclusivity period for the SGB merger ending, what’s next?

Here is an update on China’s Industrialisation from market analyst Macquarie Research Equities.

China’s Industrialisation: Resources Strong - Go Long!

26 May 2008
China’s Industrialisation: Resources Strong - Go Long!

Australian Banking Sector Update provided by Australian stockmarket analyst Macquarie Research Equities.

Banking Sector Revisited