OUR QUEST IS NOT TO BE BULLISH OR BEARISH, BUT TO CORRECTLY ASSESS FUTURE TRENDS

Bell Potter rates ALC as Buy

Alcidion has a new contract with Northern Care Alliance NHS Foundation which upgrades the existing UK customer's Extramed flow product. Miya Flow will also be rolled out across several new sites for the Trust where no relationship with Alcidion was in place.

Bell Potter estimates $4.5m in revenue will be recognised from this contract in FY27 which lifts the current contracted revenue base to more than $49m. The contract is considered a de-risking of FY27 revenue forecasts. Buy rating and 15c target maintained.

Citi rates LTR as Neutral

Citi lowers the target price on Liontown to $1.05 from $1.30.

No change in Neutral rating.

Ord Minnett rates VMM as Speculative Buy

Management at Viridis Mining and Minerals continues to advance the Colossus rare earths project towards construction, Ord Minnett observes. During FY26 the definitive feasibility study (DFS) was completed and US$140m of strategic equity funding was secured.

Attention now expected to turn to finalisation of debt funding, expected to cover 70% of the -US$449m development cost.

Other key catalysts, according to the broker, include a binding offtake agreement with European chemicals group Solvay and receipt of the Installation Licence for Colossus, both required ahead of a final investment decision (FID).

Construction is targeted to commence in the March quarter of 2027, supporting planned production from October 2028.

The $6.50 target is unchanged; Speculative Buy rating retained.

This is a summary of research released by Ord Minnett yesterday.