Business
Brokers just upgraded these two ASX stocks to “buy”
The market is in retreat today but there are two ASX stocks bucking the downtrend after getting upgraded by leading brokers.
The S&P/ASX 200 Index (Index:^AXJO) shed 0.5% ahead of the close with most sectors slumping into the red on weak offshore leads.
Upgraded on attractive valuation
However, the Perpetual Limited (ASX: PPT) share price moved in the opposite direction as it surged 5.5% to $35.91. This makes the wealth manager the second top performer on the ASX 200 after the Aurumin (ASX: AUN) share price.
The Perpetual share price got a boost as Credit Suisse upgraded it to “outperform” from “neutral”.
The broker thinks now is the time to buy the stock. It’s trading on a FY22 forecast price-earnings multiple of 13…
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