Broker earnings estimates down again

Profit growth in 2006/07 is likely to be around 10.5% according to the latest Wren Research survey of broker earnings estimates.

That's down 0.6 percentage points on the previous month’s consensus forecast and is the lowest estimate since May 2006.


Resources and media are still the two favoured sectors of the market with BHP Billiton, Rio Tinto, News Corporation and PBL all rated as strong buys.

Selected finance issues like Macquarie Bank and its offshoot Macquarie Infrastructure are also popular with analysts.

On the other side of ledger are industrial manufacturers Amcor and Coca-Cola Amatil along with retailing heavyweight Coles Myer which is consistently rated as a sell.
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