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

Bell Potter rates CU6 as Speculative Buy

Clarity Pharmaceuticals has presented key findings from the Co-PSMA study to the European Association of Urology Conference, with the full data set confirming the detection of early stage BCR, particularly in men with very low PSA levels consistent with low tumour burden.

Bell Potter believes the stage is now set for a read-out from the approval study for AMPLIFY. The Co-PSMA data, along with data from COBRA and anticipated findings from AMPLIFY will form the basis for submitting a new drug application to the US FDA.

The broker notes the company is well funded with cash in excess of $226m. Speculative Buy rating and $6.40 target.

Morgan Stanley rates GDG as Overweight

Morgan Stanley tweaks its estimates for Generation Development to incorporate the new operating structure.

The new divisional structure better reflects the expanded product offering following recent acquisitions, with the broker pointing out the updates primarily reflect reclassification rather than underlying shifts in operations.

The company now reports across a clearer divisional structure comprising Generation Life, Lonsec, Evidentia and Corporate. The medium-term earnings outlook is broadly unchanged.

Overweight. Target is reduced to $7.00 from $7.50. Industry view: In Line.

Citi rates JHX as Buy

James Hardie Industries gains potential upside from a competitor's plant closure, with Citi highlighting Nichiha's (a fibre cement competitor) plant exit in Georgia and resulting market opportunity.

The broker estimates the withdrawal creates around $70m in displaced sales, with exposure to high-value US regions supporting above-average pricing.

It's felt the opportunity could contribute around $30m to James Hardie's earnings on a full-year basis.

Unchanged Buy rating and $42.60 target.