Australian Shares Recommendations

Citigroup Investment Research has maintained their Buy - Medium Risk rating for the Westfield Group (WDC) stock and a share price target of $19.03. Meanwhile, UBS has rated Westfield group as Neutral 1 with a share price target of $17.23 based on an operational update and some asset sales. Westfield Group is listed on the Australian Stock Exchange under stock code WDC. Check your charts.

Macquarie has rated the Incitec Pivot (IPL) stock as Upgrade to Outperform from Neutral with the share price target rising from $19.32 to $25.22. Macquarie was pleased with Incitec’s (IPL) acquisition of Southern Cross, seeing it as a strategic asset at a good price. To add to this positive, all the signs are good for IPL to achieve its required 18% return. Macquarie has increased their earnings forecast for Incitec Pivot by 50 per cent in 2007-08. Incitec Pivot is listed on the Australian Stock Exchange under stock code IPL. Check your charts.

Credit Suisse has rated the Telecom Corporation of New Zealand (TEL) stock as an Upgrade to Neutral. Credit Suisse has previously had an Underperform rating following uncertainties over the NZ regulatory environment. On the basis of a 15.1 per cent fall since May 3, Credit Suisse have upgraded their recommendation to Neutral from Underperform. Telecom Corporation of New Zealand is listed on the Australian Stock Exchange under stock code TEL. Check your charts.

Credit Suisse has rated the Lion Nathan (LNN) stock as a Downgrade to Neutral. The broker had previously had an Outperform rating based upon a capital return to shareholders. This is now unlikely as Lion Nathan is looking at an acquisition with Independent Liquor, which also exposes Lion Nathan to new risks.Lion Nathan Limited is listed on the Australian Stock Exchange under stock code LNN. Check your charts.

JP Morgan has rated the Commander Communications (CDR) stock as Underweight with a valuation of $1.95. An updated earnings guidance relased by management has downgraded Commander Communications by 3-4 per cent according to JP Morgan. Also on the boards are the "execution risk" related to the Volante takeover. Commander Communications Limited is listed on the Australian Stock Exchange under stock code CDR. Check your charts.

ABN Amro rates the Timbercorp (TIM) stock as a Buy - Initiation of Coverage with a stock valuation of $4.23. ABN Amro notes that Timbercorp is well positioned as it has large-scale projects that produce significant economies of scale, while it also has opportunities to expand its operations through new products and operations. Timbercorp Limited is listed on the Australian Stock Exchange under stock code TIM. Check your charts.

JP Morgan has rated the OneSteel (OST) stock as Neutral, all the while increasing their price target to $4.13. Due to the neutral rating JP Morgan has noted that the shares are fully priced. JP Morgan prefers BlueScope (BSL) over OneSteel (OST) in the scrap metals sector. OneSteel Limited is listed on the Australian Stock Exchange under stock code OST. Check your charts.

SB Citigroup has rated the Excel Coal (EXL) stock as an Upgrade to Buy from Hold, High Risk with their price target rising to $10.15 from $8.62. The reason for the rise was that the broker had increased their commodity price forecasts and hence suggested that Excel Coal is the best thermal coal play with earnings growth potential. Excel Coal Limited is listed on the Australian Stock Exchange under stock code EXL. Check your charts.

Merrill Lynch rates the Symbion Health (SYB) stock as a Buy, Medium Risk. This rating follows Merill Lynch communications with industry sources which give the analysts the opinion that consolidation within the Australian pharmaceutical wholesaling sector is more likely. Symbion Health Ltd. is listed on the Australian Stock Exchange under stock code SYB. Check your charts.

SB Citigroup rates the Australian Gas Light (AGL) stock as a Sell with a share price target of $17.81. SB Citigroup notes that bond yields are still rising and the broker still expects profit taking. The Australian Gas Light Company is listed on the Australian Stock Exchange under stock code AGL. Check your charts.