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

Bell Potter rates ALC as Buy

Funded through its balance sheet, Alcidion Group is acquiring Kyra Flow for $3m in cash with a $1m earn out from a unit of Telstra Health, which is expected to be earnings accretive, Bell Potter highlights.

Kyra Health is expected to generate revenue of $3.7m in FY27 with over 90% recurring and earnings (EBITDA) of $1.1m. The company has 33 Australian customers, the analyst notes, across hospitals of which 31 are not pre-existing Alcidion customers.

Buy rating and 16c target are retained. Net profit after tax forecasts are largely unchanged.

Macquarie rates ALQ as Outperform

ALS Ltd delivered FY26 underlying net profit of $381m, ahead of Macquarie's estimates. Minerals guidance is considered "appropriately cautious" amid macro uncertainty and supply chain risks.

Sample flows picked up in November and December and then stayed at that level, while any increase now would have positive implications for guidance, the broker adds.

Revenue growth of 13-15% is guided for FY27 while Macquarie forecasts 17%.

In life sciences, the company is confident on improvement in York and Latin American operations that will contribute to stronger earnings growth.

Outperform rating and $23.50 target maintained.

Citi rates ASK as Neutral

Citi's Self-Storage Website Tracker continued to show strong enquiry growth in April, with Abacus Storage King recording year-on-year growth of 62.1%, ahead of the peer average of 50.7%.

The REIT also maintained solid operating momentum, the broker observes, with revenue per available square metre (RevPAM) growth of 1.5% and stable occupancy levels.

Unchanged $1.60 target and Neutral rating.