jb were slashes rating on cer & cnp to a hold, page-8

In the current environment, when a broker raises a rating (from, say 'Sell' to 'Hold' or 'Hold' to 'Buy'), it will get described in the media using the term 'ups', 'increases' or 'raises'. You have to love the way the Oz describes this as having been 'slashed' rather than simply 'lowered', 'cuts' or 'downgraded'.

To be honest, I didn't realise GSJBW even had CNP as a 'hold' - most brokers have had CNP as a 'sell' for some time.

[Dow Jones]: Goldman Sachs JBWere cuts Centro Properties (CNP.AU), Centro Retail (CER.AU) ratings to Sell from Hold in advance of Dec. 15 debt-line expiry. Also cuts CER FY09 and FY10 EPS estimates by 8.9% to 11.5 cents and by 19% to 10.7 cents on higher vacancies and interest rate expense assuming it extends its credit. Keeps 29 cents target on CNP, 14 cents on CER. CNP last trade 6.8 cents, CER 6.7 cents.

With the weather getting warmer, I must remember to increase my water intake and slash the amount of coffee I drink.