Australian Shares Recommendations

ABN Amro rates the Incitec Pivot (IPL) stock as Buy with a price target of $25.00 increasing from $21.50. The broker suggests that the stock will benefit from the Orica sell-down and the share buyback and the acquisition of Southern Cross Fertilisers, which would add to EPS. ABN Amro has also increased their valuation for Incitec (IPL) from $21.48 to $25.70. Incitec Pivot Ltd. is listed on the Australian Stock Exchange under stock code IPL. Check your charts.

Citigroup Investment Research (CIR) has a Buy/ Medium Risk (1M) rating for Rio Tinto stock with a target price of $84 per share. Rio Tinto shares are listed on the Australian Stock Exchange (ASX) under stock code RIO. Check your charts.

Macquarie Research Equities (MRE) have retained their Outperform recommendation for Rinker (RIN) with a 12 month price target of $24.50. MRE believes that Rinker "continues to offer good upside to investors. MRE think there is earnings upside risk to the markets numbers and mid-year price increases will significantly help in ensuring upgrades come through. Capital management or a large acquisition will also drive positive sentiment." Rinker shares are listed on the Australian Stock Exchange (ASX) under stock code RIN. Check your charts.

Macquarie Research Equities (MRE) have retained their 12-month price target of $33.57 for BHP, and they believe that “further upside risk remains to this price target due to potential market upgrades and positive momentum for commodity prices.” In other words, there is potential upside to BHP stock prices but it all relies upon increasing commodity prices. BHP Billiton stock are listed on the Australian Stock Exchange (ASX) under stock code BHP. Check your charts.

Macquarie Research Equities (MRE) has reiterated their outperform recommendation for AMP stock and note that the risk to AMP earnings remains squarely to the upside. MRE recognises that AMP remains an attractive pure exposure to the long term growth prospects of the Australian superannuation and wealth management industry. AMP is listed on the Australian Stock Exchange (ASX) under stock code AMP. Check your charts.

Macquarie Research Equities (MRE) maintains a preference for stocks with offshore growth exposures via the current resources boom. MRE favours the following Australian listed stocks: BHP Billiton (BHP), Rio Tinto (RIO) and Woodside Petroleum (WPL). MRE are also overweight international industrials in tight oligopolies (a market is dominated by a small number of sellers) like Rinker (RIN), Brambles (BIL), Aristocrat (ALL) and CSL Ltd. MRE also views the banking sector as a defensive part of a portfolio.

ABN Amro has a Buy rating for the PCH Group Ltd (PCG) stock with a share price target of $0.94 falling from $1.10. The move follows an update by PCH Group Ltd (PCG) that suggests competition is heating up and there are timing issues relating to some projects the broker has cut its Earnings Per Share (EPS) estimates by more than 10% for FY07 and FY08. PCH Group Ltd is listed on the Australian Stock Exchange (ASX) under stock code PCG. Check your charts.

Credit Suisse has rated the Photon Group (PGA) stock as Upgrade to Outperform. Photon Group (PGA) has announced the acquisition of Demonstration Plus, a field marketing group, and as a consequence the analysts have lifted their recommendation to Outperform. The earnings contribution has led the Credit Suisse to raise their Earnings Per Share (EPS) forecasts by 1% in FY06 and as a result their share price target rises by 25c to $4.50. Photon Group is listed on the Australian Stock Exchange (ASX) under stock code PGA. Check your charts.

ABN Amro rates the Villa World Ltd (VWD) stock as Hold with a share price target of $1.68 having been increased from $1.39. ABN Amro has revised up their forecasts in line with Villa World management's latest guidance, but notes the bigger issue is the proposed merger with MFS Diversified Group (MFT), though Villa World points out details of the proposal have yet to be released. Villa World Ltd is listed on the Australian Stock Exchange (ASX) under stock code VWD. Check your charts.

Macquarie Research Equities (MRE) has a Neutral recommendation for Zinifex (ZFX) with a 12 month share price target of $11 per share. MRE has an expectation that zinc will be in a deficit for a number of years to come and the broker anticipates that "the zinc price will spike above US$1.50/lb later this year, and accordingly expect that Zinifex may trade above MRE’s 12 month price target". Zinifex stock price has increased 460 per cent in the past two years. Zinifex is listed on the Australian Stock Exchange (ASX) under stock code ZFX. Check your charts.