Investors watch Macquarie for further upgrades

Investors watch Macquarie for further upgrades. Macquarie Group, whose shares are trading at a seven year high, is likely to give investors further positive insights into its future earnings growth on Tuesday... Leading into Macquarie's annual operational briefing... analysts were anticipating a $1.46 billion full-year profit... A sustained decline in the Australian dollar and a rise in client trading volumes as investors sought to profit from volatility in global commodities contributed to an earnings guidance upgrade from Macquarie last month. The update smoothed over investor concerns about Macquarie's exposures in the commodities market following a rout in oil and gas prices. Many are positive on Macquarie's earnings prospects with 11 analysts rating the stock a buy and six a hold. There are presently no sell recommendations on the stock, according to Bloomberg. I am positive at these levels, Arnhem Investment Management portfolio manager Mark Nathan said of Macquarie's share price. Across the board they seem to be doing well. Full article via AFR (Paywall) (VIEW LINK)

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