Australian Shares Recommendations

James Hardie Industries (JHX) reduced their target price to A$8.30 from A$9.50 to reflect the revised earnings profile from market analyst Macquarie Research Equities.

James Hardie Industries NV: Resetting Again?

FY08 Weaker Than Expected — NPAT of US$169.7m disappointed against our expectation of US$180m. Adding to the disappointment was a cut in the

final dividend of 8US¢ compared to 15US¢ in FY07.

This Global Outlook Update is provided by Australian stockmarket analyst Macquarie Research Equities.

Pleasantly Surprising Global Outlook

Resource Services Sector Update provided by Australian stockmarket analyst Macquarie Research Equities.

Resource Services Sector – M&A Activity

Crown (CWN) has a price target of $15.00 by Australian stockmarket analyst Macquarie Research Equities.

Crown (CWN) Macau preliminary commission rate cap guidance of 1.25% of rolling chip

Preliminary commission rate cap guidance of 1.25% of rolling chip

Consolidated Media Holdings (CMJ) reiterated their $4.20 target price from Australian stockmarket analysts from Citi.

Consolidated Media Holdings Limited (CMJ): FOXTEL Refinancing on Hold, Valuation Upside Remains

FOXTEL refinancing on hold — The FOXTEL Board has decided to defer refinancing its net debt to 3.0x EBITDA, the proceeds from which would have been paid out to shareholders. Reason given: less than favourable credit market conditions.

Here is an Economic Review about the market position from market analyst Macquarie Research Equities.

Is the Market Set to Fall? An Economic Review

After the falls seen earlier in the year it appears that the market is finally coming back towards full health. The last four months have seen the all Ordinaries rise above 15% with many now believing the worst of the credit crisis is well behind us. Despite this Macquarie Research Equites (MRE) feels investors should still tread warily.

Here is an update on Insurance Australia Group (IAG) from sharemarket analyst Macquarie Research Equities.

Insurance Australia Group (IAG) Revised proposal deemed 'inadequate'

Event: Cannot recommend QBE's latest proposal to shareholders:

IAG's Board today announced that it cannot recommend QBE's latest scheme proposal ($0.90 cash + 0.145 QBE shares) to its shareholders. The Board considers the revised proposal to be (1) priced opportunistically (2) not reflective of IAG's underlying value and potential deal synergies (3) not fully developed.

Tabcorp Holdings (TAH) has a price target of $12.95 from Australian stockmarket analyst Macquarie Research Equities.

Tabcorp Holdings (TAH) After the storm ... and a NT bookmaker licence

Tabcorp looking to enter NT bookmaking business:

TAH has lodged an application with the NT govt for a corporate bookmaking licence. Whilst we do not believe this move in isolation will have any significant s/t earnings impact and see it as a move to protect their current tote opps, we note it could be a precursor to further acquisitions given TAH's aim of achieving scale.

Macquarie Group (MQG) has a price target of $85.00 from Australian stock analyst UBS.

Macquarie Group (MQG) Continuing to deliver

A very good FY08 result - especially given the environment:

Macquarie Group (MQG) has downgraded their rating to Hold/High Risk from Buy/High Risk from Australian stockmarket analyst Macquarie Research Equities.

Macquarie Group Limited Ltd: Solid Result; Guidance not so Gloomy; Cut to Hold on a Good Run