Australian Broker Call *Extra* Edition – Jul 13, 2026

This story features AMAERO INC CDI, and other companies.
For more info SHARE ANALYSIS: 3DA
The company is included in ALL-ORDS

An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.

By Rudi Filapek-Vandyck

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.

One key difference is the *Extra* Edition will not be updated daily, but merely “regularly” depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena’s team of journalists.

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.

COMPANIES DISCUSSED IN THIS ISSUE

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)

3DA   ADH (2)   BVS   BWN   CMA   COG   CVV   CWP   DPM   DUR   EDV   EVT   JIN   LGP   LNW   MAF   MSB   ORE   PC2   PNR   RMD   SK1   SLX   USL   VMM  

3DA    AMAERO INC CDI

Industrial Sector Contractors & Engineers – Overnight Price: $0.32

Research as a Service (RaaS) rates ((3DA)) as No Rating (-1) –

Research as a Service (RaaS) notes Amaero CDI has resumed titanium powder production following a six-week shutdown caused by safety incidents. There were no customer order cancellations or employee departures during the pause.

The analyst also highlights a new US$344,000 production contract from Bechtel Plant Machinery to manufacture piping for the US submarine industrial base.

FY27 and FY28 revenue forecasts are reduced and earnings (EBITDA) loss estimates increased to reflect a more gradual production ramp-up. The valuation is lowered to $0.68 from $0.72 after reducing its discount rate.

Research as a Service doesn’t carry any ratings or targets. Investors can draw conclusions from valuations and commentary.

This report was published on July 10, 2026.

Target price is $0.68 Current Price is $0.32 Difference: $0.365
If 3DA meets the Research as a Service (RaaS) target it will return approximately 116% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.86.

Forecast for FY27:

Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.53.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ADH    ADAIRS LIMITED

Furniture & Renovation – Overnight Price: $1.49

Canaccord Genuity rates ((ADH)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Adairs with its target price increased to $2.20 following a strong preliminary trading update.

The analyst notes positive momentum across the core Adairs and Mocka brands, which combined to deliver 17% underlying EBIT growth over the previous year despite highly promotional consumer environments.

Both divisions achieved 70 to 80 basis points of EBIT margin expansion, further supported by improved inventory controls and a -$15m reduction in group net debt.

The solid operational execution provides an effective offset to the underperforming Focus on Furniture division, which suffered a -68.3% collapse in underlying EBIT alongside a -$62m to -$68m non-cash goodwill impairment.

The investment thesis remains anchored to undemanding forward valuation multiples and ongoing margin recovery heading into FY27.

This report was published on July 10, 2026.

Target price is $2.20 Current Price is $1.49 Difference: $0.71
If ADH meets the Canaccord Genuity target it will return approximately 48% (excluding dividends, fees and charges).
Current consensus price target is $1.56, suggesting upside of 4.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 18.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.4, implying annual growth of 19.1%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 8.6.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 21.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.9, implying annual growth of 8.6%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is 7.9.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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Jarden rates ((ADH)) as Overweight (2) –

Jarden maintains an Overweight rating for Adairs with a $1.90 target price following a recent trading and earnings update.

The analyst highlights better sales and margins within the core Adairs brand, offsetting a second-half EBIT loss of -$2m in the underperforming Focus division.

Group revenue growth slowed to approximately 0% during the March-to-June period compared to a 6% increase across January and February.

Profitability into FY27 is expected to face macroeconomic headwinds, though gross margin expansion and the exit of loss-making New Zealand operations provide structural tailwinds, commentary suggests.

The investment thesis centres on attractive valuation entry points at the bottom of the consumer cycle.

This report was published on July 8, 2026.

Target price is $1.90 Current Price is $1.49 Difference: $0.41
If ADH meets the Jarden target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $1.56, suggesting upside of 4.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.40 cents and EPS of 19.10 cents.
At the last closing share price the estimated dividend yield is 6.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.4, implying annual growth of 19.1%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 8.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 9.70 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 6.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.9, implying annual growth of 8.6%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is 7.9.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BVS    BRAVURA SOLUTIONS LIMITED

Wealth Management & Investments – Overnight Price: $2.36

Canaccord Genuity rates ((BVS)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Bravura Solutions with a $2.73 target price following an upgraded cash EBITDA expectation to $77m for FY26 from prior guidance of $69m to $73m.

Revenue guidance of $280m to $285m is reiterated, and the analyst notes the upgrade is driven by improved cost management and tightly managed headcount rather than capex deferrals.

Based on an additional $8m of 2H26 EBITDA, projected FY26 NPAT reaches $55m to $57m.

Commentary concludes strict cost control positions the company well entering FY27 despite prospective lower project revenue following completion of super fund mergers.

This report was published on July 9, 2026.

Target price is $2.73 Current Price is $2.36 Difference: $0.37
If BVS meets the Canaccord Genuity target it will return approximately 16% (excluding dividends, fees and charges).

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BWN    BHAGWAN MARINE LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $0.32

Shaw and Partners rates ((BWN)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Bhagwan Marine with a $0.60 target price following a site visit to the company’s Queensland operations.

Management hosted investors at two core Brisbane River facilities, highlighting strong market positions across both the industrial sands and marine solutions divisions.

The report points out the industrial sands business is the largest construction sand supplier within 30km of the Brisbane central business district, benefiting from a substantial resource life estimated at 100 years.

Synergies between the operations provide opportunities to expand distribution capabilities along the East Coast utilising the largest diverse marine fleet nationwide.

The analyst highlights unique asset moats, rational industry pricing, and long-term volume exposure linked to infrastructure spending as key positive drivers.

This report was published on July 9, 2026.

Target price is $0.60 Current Price is $0.32 Difference: $0.285
If BWN meets the Shaw and Partners target it will return approximately 90% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 1.00 cents and EPS of 1.40 cents.
At the last closing share price the estimated dividend yield is 3.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.50.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 1.50 cents and EPS of 3.60 cents.
At the last closing share price the estimated dividend yield is 4.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.75.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CMA    CARMA LIMITED

Automobiles & Components – Overnight Price: $0.94

Canaccord Genuity rates ((CMA)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Carma with a $3.50 target price following a step-change in retail units delivered during June and 4Q26.

Retail revenue increased 34% month-on-month to $11.8m, though average selling prices trended down amid a challenged Australian used car market.

The analyst notes the company continues to take significant market share despite a tough backdrop, achieving 93% year-on-year growth in retail units delivered in 2H26.

Gross profit-per-unit is projected to increase to $4.6k in FY27 as operational leverage improves.

This report was published on July 9, 2026.

Target price is $3.50 Current Price is $0.94 Difference: $2.56
If CMA meets the Canaccord Genuity target it will return approximately 272% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

COG    COG FINANCIAL SERVICES LIMITED

Business & Consumer Credit – Overnight Price: $1.36

Shaw and Partners rates ((COG)) as Buy (1) –

Shaw and Partners maintains a Buy rating for COG Financial Services with its target price reduced to $2.30 to reflect conservative earnings revisions amid persistent macro inflation.

The broker downgraded near-term per-share underlying earnings paths by -1% to -8% across the forecast period to account for higher operational cost replication and increased credit provisioning in the auto lending division.

Strong underlying performance remains intact, the broker comments, driven by structural battery electric vehicle leasing demand expanding amongst middle-class salaried professionals.

The analyst highlights an attractive valuation framework, noting the financial services group trades on a 16% forward free cash flow yield.

Market share gains across novated lease originations and salary packaging accounts provide robust multi-year tailwinds ahead of upcoming regulatory reviews, the report concludes.

This report was published on July 10, 2026.

Target price is $2.30 Current Price is $1.36 Difference: $0.935
If COG meets the Shaw and Partners target it will return approximately 68% (excluding dividends, fees and charges).
Current consensus price target is $2.04, suggesting upside of 48.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 8.00 cents and EPS of 14.70 cents.
At the last closing share price the estimated dividend yield is 5.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.4, implying annual growth of 42.4%.
Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 10.2.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 9.20 cents and EPS of 16.30 cents.
At the last closing share price the estimated dividend yield is 6.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.8, implying annual growth of 10.4%.
Current consensus DPS estimate is 8.1, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 9.3.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CVV    CARAVEL MINERALS LIMITED

Copper – Overnight Price: $0.25

Shaw and Partners rates ((CVV)) as Initiation of coverage with Buy (1) –

Shaw and Partners initiates coverage on Caravel Minerals with a Buy recommendation and $1.15 price target.

The company is advancing its flagship copper project in Western Australia, which represents one of the largest undeveloped copper resources globally.

Shaw comments that large-scale bulk tonnage mining combined with automated mine design infrastructure will drive highly competitive operating margins and unit cost efficiencies.

According to the report, rare structural proximity to existing power grid connections and established logistics networks near Perth significantly de-risks development risk and capital intensity compared to remote greenfield projects.

The analyst highlights additional financial protection from high-margin gold and silver by-product credits ahead of the definitive feasibility study completion slated for September 2026.

This report was published on July 10, 2026.

Target price is $1.15 Current Price is $0.25 Difference: $0.9
If CVV meets the Shaw and Partners target it will return approximately 360% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 125.00.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 125.00.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CWP    CEDAR WOODS PROPERTIES LIMITED

Infra & Property Developers – Overnight Price: $6.85

Shaw and Partners rates ((CWP)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Cedar Woods Properties with a $9.55 target price despite adopting a more conservative stance on near-term underlying corporate profits.

Persistent domestic inflationary headwinds prompted a -5.8% downward revision to the FY27 net profit forecast to account for a rising operational cost base.

The analyst notes severe structural dwelling shortages continue providing the property group with solid pricing power to mitigate elevated construction outlays.

High presales volumes reaching $788m at the March quarter underscore robust consumer demand, securing 80% of budgeted revenue targets.

Future earnings growth remains driven by a favourable settlement mix as complex high-value apartment projects mature through FY28, the report concludes.

This report was published on July 10, 2026.

Target price is $9.55 Current Price is $6.85 Difference: $2.7
If CWP meets the Shaw and Partners target it will return approximately 39% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 37.00 cents and EPS of 75.30 cents.
At the last closing share price the estimated dividend yield is 5.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.10.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 46.00 cents and EPS of 86.10 cents.
At the last closing share price the estimated dividend yield is 6.72%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.96.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

DPM    DPM METALS INC

Gold & Silver – Overnight Price: $50.81

Canaccord Genuity rates ((DPM)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for DPM Metals with a CA$77.00 target price following preliminary Q2/26 production results that exceeded the broker estimate by 31%.

Gold equivalent production reached 102.0koz, driven by stronger-than-expected throughput at Vares where the planned maintenance shutdown was completed in seven days instead of twenty.

Management maintained annual guidance. Based on year-to-date performance, the analyst believes DPM is tracking towards the upper end of its production range.

DPM Metals shares trade at a valuation of 0.66x NAV and 6.1x 2027E EBITDA, and Canaccord suggests a premium to intermediate producer peers is warranted given its self-funded growth profile and robust balance sheet.

Crucial upcoming catalysts include Q2/26 financial results scheduled for release on 30 July 2026.

This report was published on July 9, 2026.

Current Price is $50.81. Target price not assessed.
The company’s fiscal year ends in December.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 33.81 cents and EPS of 495.37 cents.
At the last closing share price the estimated dividend yield is 0.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.26.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 16.00 cents and EPS of 397.00 cents.
At the last closing share price the estimated dividend yield is 0.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.80.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

DUR    DURATEC LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $2.40

Shaw and Partners rates ((DUR)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Duratec with a $3.10 target price based on strong support from an opening order book valued at $636m heading into FY27.

The company retains considerable exposure to a substantial $1.2bn pipeline of outstanding tenders, including three key infrastructure and defence opportunities exceeding $100m each.

While near-term EBITDA forecasts remain -5% to -6% below FactSet consensus benchmarks due to conservative revenue mix modelling, the analyst identifies clear potential upside from solid margin execution and strong tender conversion rates.

The investment thesis highlights expanding protection and remediation opportunities across metropolitan concrete high-rises, resources assets, and national defence fuel installations.

Long-term operational visibility remains backed by multi-year joint venture commitments, placing the stock on a projected total shareholder return of approximately 38%, today’s report highlights.

This report was published on July 9, 2026.

Target price is $3.10 Current Price is $2.40 Difference: $0.7
If DUR meets the Shaw and Partners target it will return approximately 29% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 4.30 cents and EPS of 10.20 cents.
At the last closing share price the estimated dividend yield is 1.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.53.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 5.20 cents and EPS of 11.60 cents.
At the last closing share price the estimated dividend yield is 2.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.69.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EDV    ENDEAVOUR GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $3.46

Jarden rates ((EDV)) as Underweight (4) –

Jarden maintains an Underweight rating for Endeavour Group with a $3.10 target price following an analysis of major state budgets and corporate gaming updates.

Recent fiscal projections point to a stable outlook for electronic gaming machines, indicating a positive multi-year taxation revenue trajectory across Queensland and New South Wales.

The analyst notes near-term tracking data from Victoria and Queensland suggest modest downside risk to retail liquor volumes ahead of the upcoming August corporate reporting season.

While the hotel division remains well positioned to expand its market share through targeted portfolio renewals, execution timelines for strategic adjacency opportunities require further corporate clarity.

Jarden remains cautious as softer domestic liquor consumption presents a persistent volume headwind across the core big-box retail network.

This report was published on July 8, 2026.

Target price is $3.10 Current Price is $3.46 Difference: minus $0.36 (current price is over target).
If EDV meets the Jarden target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.11, suggesting downside of -10.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 13.10 cents and EPS of 19.80 cents.
At the last closing share price the estimated dividend yield is 3.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.5, implying annual growth of -13.8%.
Current consensus DPS estimate is 14.2, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 16.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 11.00 cents and EPS of 20.30 cents.
At the last closing share price the estimated dividend yield is 3.18%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.04.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.5, implying annual growth of N/A.
Current consensus DPS estimate is 12.9, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 16.9.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EVT    EVT LIMITED

Travel, Leisure & Tourism – Overnight Price: $12.47

Jarden rates ((EVT)) as Overweight (2) –

Jarden resumes coverage on EVT Ltd with an Overweight rating and its target price reduced to $14.80 following an operational review of its hospitality, entertainment, and leisure property portfolios.

The analyst notes medium-term segment expansion remains anchored to high-margin managed hotel agreements and an expected near-term cyclical recovery across domestic cinema box office slates.

Anticipated real estate divestments, including the pending sale of 525 George Street for an estimated base case value of $164m, serve as prominent catalysts to unlock latent value or fund internal refurbishment programs.

Near-term hotel upgrades will temporarily weigh on FY26 earnings, though a subsequently cleaner execution window supports a projected 12% underlying profit compound annual growth rate over the multi-year forecast horizon.

Gearing levels are comfortable at 20% of total tangible assets, tracking comfortably below the historical averages of domestic real estate investment trusts, the report points out.

This report was published on July 9, 2026.

Target price is $14.80 Current Price is $12.47 Difference: $2.33
If EVT meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $16.40, suggesting upside of 31.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 39.80 cents and EPS of 29.10 cents.
At the last closing share price the estimated dividend yield is 3.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 42.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.5, implying annual growth of 77.6%.
Current consensus DPS estimate is 34.2, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 34.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 43.10 cents and EPS of 32.50 cents.
At the last closing share price the estimated dividend yield is 3.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 38.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.9, implying annual growth of 39.5%.
Current consensus DPS estimate is 40.1, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 24.5.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

JIN    JUMBO INTERACTIVE LIMITED

Gaming – Overnight Price: $7.25

Jarden rates ((JIN)) as Overweight (2) –

Jarden maintains an Overweight rating for Jumbo Interactive with its target price increased to $10.80 following an updated corporate guidance release.

The full-year earnings outlook marginally exceeded prior modelling at the midpoint, supported by strong performance in the United States prize draw segment resulting from a faster draw cadence.

The analyst notes this momentum provides a partial offset to weaker domestic lottery retailing conditions, where unfavourable jackpot sequences adversely impacted total industry ticket sales by an estimated -$600m to -$700m.

The United Kingdom division experienced a modest guidance reduction due to integration investments and transition costs associated with founder earn-out periods.

Jarden suggests current valuation multiples largely account for risks surrounding the 2030 reseller agreement renewal, leaving upside potential contingent on sustained international expansion and normalised domestic jackpot volumes.

This report was published on July 9, 2026.

Target price is $10.80 Current Price is $7.25 Difference: $3.55
If JIN meets the Jarden target it will return approximately 49% (excluding dividends, fees and charges).
Current consensus price target is $9.20, suggesting upside of 26.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 26.00 cents and EPS of 76.90 cents.
At the last closing share price the estimated dividend yield is 3.59%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.1, implying annual growth of 10.8%.
Current consensus DPS estimate is 28.4, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 10.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 36.50 cents and EPS of 98.70 cents.
At the last closing share price the estimated dividend yield is 5.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 93.6, implying annual growth of 31.6%.
Current consensus DPS estimate is 36.0, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 7.7.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LGP    LITTLE GREEN PHARMA LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.07

Canaccord Genuity rates ((LGP)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Little Green Pharma with its target price reduced to $0.15 following the release of its FY26 financial results and the completion of a transformative merger with Cannatrek.

Commentary concludes the transaction uniquely links the corporate asset infrastructure of the listed entity with Cannatrek’s extensive domestic customer footprint and strong earnings baseline.

On a standalone basis, full-year group revenue increased 15% to $42.4m, driven by accelerating product volumes distributed across European export channels.

The analyst notes near-term financial projections carry some forecast variability given historical performance fluctuations and limited near-term visibility surrounding the newly consolidated structure.

Canaccord highlights cheap entry valuation multiples and long-term regulatory tailwinds as legislative adjustments expand patient recruitment caps across Germany and the UK.

This report was published on July 10, 2026.

Target price is $0.15 Current Price is $0.07 Difference: $0.08
If LGP meets the Canaccord Genuity target it will return approximately 114% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LNW    LIGHT & WONDER INC

Gaming – Overnight Price: $106.80

Canaccord Genuity rates ((LNW)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Light & Wonder with its target price decreased to $182.00 from $184.00 following minor earnings adjustments and a 2Q26 preview.

The stock trades near 12-month lows while offering attractive valuation constructs and a widening discount to Aristocrat Leisure.

Revisions to forecasts reflect a -1% reduction in FY26 and FY27 AEBITDA alongside minor gaming and cash flow adjustments.

The analyst notes a prospective low double-digit 3-year AEBITDA compound annual growth rate and a stronger EPS compound annual growth rate justify the investment thesis.

Second-quarter financial results are scheduled for release on 5 August 2026.

This report was published on July 9, 2026.

Target price is $182.00 Current Price is $106.80 Difference: $75.2
If LNW meets the Canaccord Genuity target it will return approximately 70% (excluding dividends, fees and charges).
Current consensus price target is $188.00, suggesting upside of 76.0%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 965.0, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.1.

Forecast for FY27:

Current consensus EPS estimate is 1176.8, implying annual growth of 21.9%.
Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 9.1.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MAF    MA FINANCIAL GROUP LIMITED

Wealth Management & Investments – Overnight Price: $6.42

Canaccord Genuity rates ((MAF)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for MA Financial with a $11.10 target price following revised portfolio fund flows across its asset management division.

The analyst applies a modest -1% reduction to near-term earnings estimates to reflect softer first-half real estate transactions and the wind-up of the MA Credit Opportunities Fund.

Strong asset revaluations within the Redcape hospitality portfolio significantly increase the likelihood of performance fees coming through during 2H26, commentary highlights.

Operational momentum remains supported by strong net interest margins at MA Money, alongside a $20m pre-tax gain realised from the successful sale of Infinite Care.

The broker highlights robust structural cash generation driven by expanding commercial loan volumes and diversified private credit inflows.

This report was published on July 10, 2026.

Target price is $11.10 Current Price is $6.42 Difference: $4.68
If MAF meets the Canaccord Genuity target it will return approximately 73% (excluding dividends, fees and charges).
Current consensus price target is $9.22, suggesting upside of 43.6%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 52.2, implying annual growth of 736.5%.
Current consensus DPS estimate is 28.0, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 12.3.

Forecast for FY27:

Current consensus EPS estimate is 56.6, implying annual growth of 8.4%.
Current consensus DPS estimate is 32.1, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 11.3.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MSB    MESOBLAST LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $2.24

Canaccord Genuity rates ((MSB)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Mesoblast with a $3.23 target price following a trading update for 4Q FY26.

Fourth-quarter Ryoncil net revenue reached US$36m, bringing FY26 net revenue to US$115m and landing within the guidance range of US$110m to US$120m.

The analyst notes the fourth-quarter performance reflects a solid first year of operations with market share estimated at 29%.

Annualised sales of US$144m support FY27 sales projections of US$156m driven by incremental market share gains and minimal off-label use.

This report was published on July 9, 2026.

Target price is $3.23 Current Price is $2.24 Difference: $0.99
If MSB meets the Canaccord Genuity target it will return approximately 44% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ORE    OREZONE GOLD CORPORATION CDI

Gold & Silver – Overnight Price: $2.37

Canaccord Genuity rates ((ORE)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Orezone Gold Corp CDI with a $5.00 target price following the release of “mixed” 2026 operational guidance for the recently acquired Casa Berardi gold mine.

Projected gold production of 62koz to 67koz landed -10% below prior modelling, while all-in sustaining costs of US$2,600/oz to US$2,800/oz arrived 25% higher due to differing sustaining capital allocations.

The analyst views 2026 as a transition year and notes capital expenditures of US$42m to US$45m tracked -27% below initial forecasts.

Long-term operating metrics should improve as mining transitions into higher-grade areas of the F160 pit alongside advancing underground development.

The broker observes the core Bombore operation continues performing in line with expectations, anchoring the investment thesis with strong free cash flow generation and exploration upside.

This report was published on July 10, 2026.

Target price is $5.00 Current Price is $2.37 Difference: $2.63
If ORE meets the Canaccord Genuity target it will return approximately 111% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PC2    PC GOLD LIMITED

Gold & Silver – Overnight Price: $1.14

Canaccord Genuity rates ((PC2)) as Initiation of coverage with Speculative Buy (1) –

Canaccord Genuity initiates coverage of PC Gold with a Speculative Buy rating and its target price set at $2.15 following the advancement of PC’s 100%-owned Spring Hill Gold Project in the Northern Territory, Australia.

The investment thesis centres on resource growth from ongoing drilling, potential grade upside from high-grade shoots and Photon Assay reconciliation, and the strategic value of a permitted project in an established gold province close to infrastructure.

The analyst models a 3Mtpa open pit operation producing 112kozpa over a 6.5-year mine life with nameplate production from mid-FY30E.

Upcoming prospective catalysts include an imminent resource update, ongoing resource definition drilling, and a pre-feasibility study targeted for late October 2026.

This report was published on July 10, 2026.

Target price is $2.15 Current Price is $1.14 Difference: $1.015
If PC2 meets the Canaccord Genuity target it will return approximately 89% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 113.50.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 113.50.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PNR    PANTORO GOLD LIMITED

Gold & Silver – Overnight Price: $2.09

Canaccord Genuity rates ((PNR)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Pantoro Gold with its target price decreased to $4.20 following preliminary June quarter results and updated FY27 guidance.

Quarterly production of 18koz missed estimates due to labour shortages, contractor transitions, and ground pressure issues at the OK underground mine.

The analyst notes FY26 production totalled 77.4koz, which missed revised guidance.

FY27 production is conservatively guided at 90koz to 105koz with AISCs of $2,800 to $3,400/oz, and the company expects to release a five-year production plan during the current quarter.

This report was published on July 9, 2026.

Target price is $4.20 Current Price is $2.09 Difference: $2.11
If PNR meets the Canaccord Genuity target it will return approximately 101% (excluding dividends, fees and charges).
Current consensus price target is $4.84, suggesting upside of 131.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 41.5, implying annual growth of 180.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 5.0.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.7, implying annual growth of 48.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 3.4.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

RMD    RESMED INC

Medical Equipment & Devices – Overnight Price: $30.03

Jarden rates ((RMD)) as Overweight (2) –

Jarden maintains an Overweight rating for ResMed with its target price reduced to $40.20 following the announced sale of the MatrixCare and Healthcare First businesses.

Commentary suggests the US$490m all-cash transaction to Frazier Healthcare Partners represents a strategic shift towards capital recycling, redirecting funds from lower-growth software assets into accelerated share repurchases.

The analyst notes the divested residential care units generated approximately US$220m in revenue and US$55m in non-GAAP operating profit before tax during FY26.

Management updated forward guidance for the Noctrix Health acquisition, projecting US$30m in FY27 revenue alongside an expected 20.0c per-share earnings dilution.

The core investment thesis anticipates top-line revenue growth accelerating across the remaining software-as-a-service portfolio.

This report was published on July 8, 2026.

Target price is $40.20 Current Price is $30.03 Difference: $10.17
If RMD meets the Jarden target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $40.73, suggesting upside of 35.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 36.46 cents and EPS of 164.34 cents.
At the last closing share price the estimated dividend yield is 1.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 160.3, implying annual growth of N/A.
Current consensus DPS estimate is 35.7, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 18.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 41.01 cents and EPS of 181.83 cents.
At the last closing share price the estimated dividend yield is 1.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 176.5, implying annual growth of 10.1%.
Current consensus DPS estimate is 39.5, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 17.0.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SK1    SKINKANDY LIMITED

Health & Nutrition – Overnight Price: $2.73

Jarden rates ((SK1)) as Initiation of coverage with Overweight (2) –

Jarden initiates coverage on SkinKandy with an Overweight rating and a $2.90 target price.

The analyst views the piercing and fashion jewellery retailer favourably, highlighting its highly scalable rollout model, net cash balance sheet, and fast 14-month new store paybacks.

Store mapping analysis suggests scope for 161 to 202 domestic locations, providing the company with roughly four years of capacity across Australia and New Zealand.

According to the report, medium-term earnings carry significant upside risk driven by overhead cost leverage and scope for service price increases, given current needle piercing rates sit -13% to -36% below competitor averages.

While the near-term forward earnings multiple does not screen as cheap, Jarden emphasises an attractive risk-reward profile featuring substantial valuation upside if future international expansion proves successful.

This report was published on July 9, 2026.

Target price is $2.90 Current Price is $2.73 Difference: $0.17
If SK1 meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 7.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.45.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 10.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.25.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SLX    SILEX SYSTEMS LIMITED

Uranium – Overnight Price: $5.70

Shaw and Partners rates ((SLX)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Silex Systems with a $12.80 target price following an investor site visit to Silex’s laser isotope separation facilities at Lucas Heights.

The analyst notes the project remains fully on track for commercial uranium production by 2030 through Global Laser Enrichment, a joint venture partnership with Cameco.

Operational de-risking achieved Technology Readiness Level 6 status, initiating a multi-month window for partner equity options while advancing full-scale facility designs in Kentucky.

Commentary posits commercialisation milestones are further supported by a US$98.9m state incentive package alongside a separate US Department of Energy technology grant.

Long-term value optionality extends downstream into low-enriched uranium fuel markets and high-purity silicon processing assets tailored for quantum computing infrastructure, the report concludes.

This report was published on July 10, 2026.

Target price is $12.80 Current Price is $5.70 Difference: $7.1
If SLX meets the Shaw and Partners target it will return approximately 125% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 8.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 71.25.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 6.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 87.69.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

USL    UNICO SILVER LIMITED

Gold & Silver – Overnight Price: $0.68

Canaccord Genuity rates ((USL)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Unico Silver with its target price at $1.70 following the acquisition of the La Mata estancia at the Joaquin Project in Argentina.

The transaction secures freehold control over more than 10,000ha of strategic land, replacing a time-limited surface rights agreement and removing a legacy access arrangement.

The acquisition expands permanent tenure over key operating areas and future infrastructure locations ahead of the SepQ’26 pre-feasibility study.

The analyst notes the headline purchase price of US$12m is structured across cash, scrip, and deferred payments over three years, with US$3.5m paid in upfront cash.

Management focus now centers on technical workstreams and metallurgy as Joaquin transitions from a resource story to a development story.

This report was published on July 9, 2026.

Target price is $1.70 Current Price is $0.68 Difference: $1.02
If USL meets the Canaccord Genuity target it will return approximately 150% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

VMM    VIRIDIS MINING AND MINERALS LIMITED

Rare Earth Minerals – Overnight Price: $3.37

Canaccord Genuity rates ((VMM)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Viridis Mining and Minerals with a $6.30 target price following an updated mineral resource estimate at the Colossus project in Brazil.

The global resource expanded to 473Mt at 2,505ppm total rare earth oxides, driven by a substantial size and grade increase inside the measured category.

This measured component underpins more than five years of mine life under the initial production plan, satisfying a key technical hurdle for securing project debt financing.

The analyst notes independent asset modeling incorporates deliberate conservatism by excluding low-recovery oxidized clays to isolate material highly suited for economic extraction.

Crucial operational milestones over the coming six months include a definitive feasibility study in August 2026, final investment decisions, and a binding offtake agreement with Solvay.

This report was published on July 9, 2026.

Target price is $6.30 Current Price is $3.37 Difference: $2.93
If VMM meets the Canaccord Genuity target it will return approximately 87% (excluding dividends, fees and charges).

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don’t have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.

This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

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