Deutsche Bank rates as Downgrade to Hold from Buy (3) - Full year earnings were better than expected and this sees Deutsche lift forecasts for coming years. Price target increases to $3.60 from $3.45.

et is trading around Deutsche's revised valuation even allowing for potential to gain scale and cut costs, so post the result rating is downgraded to Hold from Buy.

- REGIS RESOURCES LIMITED

UBS rates as Neutral (3) - Regis intends to acquire the McPhillamys deposit and UBS sees the deal as a low cost acquisition given it is adding resources at $60 per ounce.

UBS retains a Neutral rating as while management has a good track record on both developments and production valuation is full at current levels.

- QBE INSURANCE GROUP LIMITED

Citi rates as Downgrade to Neutral from Buy (3) - Target $13.50 (was $15.00). The broker did not like the look of 1H margins, noting that with the upside potential from an improvement here now gone, has again become a longer-term turnaround story.

EPS forecasts are cut on the result and the Neutral call is maintained, with the broker expecting the company to pursue further reserve building, which will dampen nearer-term results.

- DUET GROUP

JP Morgan rates as Neutral (3) - t's result was in line but only after a better than expected result from United Energy offset a weak, mild weather-affected result from Multinet. Internalisation of management remains a positive but there is risk around Multinet's upcoming regulatory reset, which the broker feels may not go as well as is assuming.

- DECMIL GROUP LIMITED

Deutsche Bank rates as Buy (1) - Decmil has acquired the balance of an accommodation village in Gladstone and on the news Deutsche has lifted earnings forecasts to reflect the news.

Price target increases to $3.35 from $3.15 and Deutsche retains a Buy rating.

- DEXUS PROPERTY GROUP

Deutsche Bank rates as Sell (5) - Full year earnings were in line with expectations despite some one-offs in the result and given FY13 guidance was largely in line with forecasts Deutsche makes no major changes to its model.

Incentives are starting to bite and the stock appears fully priced on both yield and growth outlook, so Deutsche retains a Sell rating.

- MATRIX COMPOSITES & ENGINEERING LIMITED

JP Morgan rates as Neutral (3) - One-offs provided a messy result for Matrix as expected but production rates were nevertheless lower than expected at Henderson, the broker notes. The good news is rates now appear to be improving and the broker believes 80% capacity can be achieved in FY13. The broker has increased FY13 forecast earnings by 9% but notes the order book is still below expectation. Target rises to $2.35 from $2.10 but Neutral retained.

- SONIC HEALTHCARE LIMITED

UBS rates as Neutral, Short-Term Buy (3) - With the FY12 reporting season showing good results have been met with a positive stock response, UBS has initiated a short-term Buy rating on Sonic Healthcare.

This reflects the view there is positive risk associated with the profit result for Sonic thanks to domestic pathology outperformance. The broker retains a Neutral rating for the longer-term.

Keep reading - next article

Australian Stocks: What Happened Today?

23/05/2013 23:57Sydney, Australia. 23 May,2013

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