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

UBS rates CHC as Buy

Further to the Charter Hall trading update and its third FY26 EPS upgrade this year, UBS increases the target to $24.75 from $24.50, retaining a Buy rating.

The broker observes the stock delivered a total negative return of -17% over the past six months, underperforming the A-REIT200 by around -10%.

Following a pullback it now trades on a P/E ratio of 18.4x, largely in line with its 10-year average and offers the prospect of double-digit EPS growth, UBS adds.

Morgans rates SYL as Buy

Morgans believes Symal Group's investor day reinforces the strength of the company's long-term growth trajectory.

Commentary refers to expanding government infrastructure investment and a substantial pipeline of tendered and early contractor involvement work.

The broker suggests management's aspirational FY30 earnings (EBIDTA) target of $200m may be achieved earlier than expected. Growth across infrastructure, energy, defence and digital markets, alongside M&A optionality are highlighted.

The investment thesis for Symal as the "picks and shovels" provider to Australia's infrastructure build-out remains intact, Morgans concludes. Unchanged $3.35 target and Buy rating.