yo beagle - you don't see any risk of a broker EPS downgrade cycle? you are obviously aware of upgrade/downgrade cycles as you noted them last year when it was in an EPS upgrade cycle & your observations that the EPS/DPS estimates would continue to be rated upwords.
According to that marketscreener, FY22 EPS started out this calendar year at 0.37 per share and now at 0.29. (NB marketscreener only record 2 analyst EPS estimates & 3 DPS estimates. Its covered by 5 investment banks and 6 analysts if you include shareclarity)
https://www.marketscreener.com/quote...364/revisions/
I just thought with all the consumer confidence pessimism, diabolical retailer profit expectations from recent surverys, the poor department store & clothing sales being recorded by Datamine Retail Watch and Payscale that it would weigh on broker sentiment when they go on to update their forecasts (and earnings when released)? Things certainly seemed to have deteriorated since the 1H release, no? Jarden - your favourite analyst - seem to be gearing up for downgrades given the macro research they released on their estimates of rapidly declining consumer spending. Isn't it responsible to assume that would feature in their next research report, and other brokers could do something similar? Does the consensus coming out of marketscreener remain a valid baseline given some of the negative changes that have occurred when the forecasts were made?
Even ignoring any changes to broker earnings forecasts - I would have thought TP's could be downgraded the next time they issue a report given the risk free rate (10 year gov bond) has risen 45bps since they prepared their reports on 22 March - and don't seem to be slowing down.