Bell Potter Recommendation, page-59

Thanks. 
I had a look back at my post from October and yes you are right. I questioned why BP ignored their own forecast of a downgrade in profit and didn't downgrade SP. They were right on the earnings and wrong on the SP.  

I tend to form my own conclusions based on reports like that and use BP as a (very good) data point. I don't buy everything they recommend, sometimes rightly, sometimes wrongly. Motley and Morningstar, I ignore completely. 

I will have to review their latest update for stocks like CGF (I am a long, long term holder) as they still have a $14 target and we know how BP doesn't like to change their mind on stocks. (maybe that is their problem - they don't swing from buy to sell very easily.)