Don't believe the hype about low expectations beforehand

Don't believe the hype about low expectations beforehand. The FY14 reporting season in August produced the highest growth scorecard for Australian companies in the entire post-2007 era. But rather than blowing away analysts expectations, most financial reports merely confirmed what was expected, and priced in already. This also explains why August generated an unusually large number of broker downgrades in ratings and a more benign number of upgrades. Average price target increase was for 2.15%. All this suggests investors shouldn't bank on ASX200 reaching for 6000 anytime soon (VIEW LINK)


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