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Ord Minnett upgrading Wesfarmers to a 'hold' with a $78 target price, after a sharp increase in the broker's lithium price forecasts
The broker says this pans well considering Wesfarmers' 50% stake in Covalent Lithium
Elsewhere - Morgans has upgraded James Hardie to a 'buy'.
The investment firm asserts that James Hardie is the highest quality building products business on the ASX. It adds that market conditions are more stable and inventory levels have normalised.
Morgans has a $35.50 target price on the stock.
Another rating upgrade came from Citi, which now rates Nufarm 'neutral', with a $2.55 target price... in a move to reflect a better earnings growth outlook.
The broker adds that the market is likely to react positively to incoming CEO Rico Christensen, given his experience across the agricultural industry.
And Jefferies has flagged that Webjet is still losing market share amid competition, but sees Helloworld's takeover offer as "compelling".
That is because, according to Jefferies, Webjet is lacking scale in a subdued leisure market.
