Daily Market Reports | 10:30 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
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)
AKA ALQ AZJ BGP CNB CU6 GL1 IFT NWL NZK ORE SGLLV SHV TCG TLC TLX (2) WBC
BGP BRISCOE GROUP LIMITED
Overnight Price: $3.45
Jarden rates ((BGP)) as Neutral (3) -
Jarden maintains a Neutral rating for Briscoe Group with its target price increased to NZ$4.90 from NZ$4.85 following a broadly in-line 1H27 result confirming last month's sales update.
The analyst highlights first-half sales grew 0.8% year-on-year to NZ$374m, supported by a 2.6% increase in sporting goods sales, while the gross margin contracted -58 basis points to 40.85%.
Management views the third consecutive quarter of sales growth as encouraging given continued caution in discretionary spending.
The key incremental detail was net profit after tax of NZ$27.6m, matching Jarden's forecast, alongside a maintained interim dividend of NZ10.0c.
Earnings per share estimates are lowered by -2.3%, -0.4%, and -0.8% for FY27, FY28, and FY29 respectively to reflect the minor adjustments.
This report was published on September 18, 2026.
Current Price is $3.45. Target price not assessed.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CNB CARNABY RESOURCES LIMITED
Mining - Overnight Price: $0.96
Moelis rates ((CNB)) as Buy (1) -
Moelis maintains a Buy rating for Carnaby Resources with a $1.30 target price following the release of FY26 financial results, which the analyst considers inconsequential given the pending acquisition by Evolution Mining ((EVN)).
The results demonstrated continued expenditure on exploration throughout the year, leading to incremental discoveries such as 'Miniboom'.
Moelis makes no material changes to its outlook, other than updating the 30 June cash balance to $9.4m and removing assumptions for future equity issuance to fund project development, removing expected incremental dilution.
The analyst expects the Evolution Mining transaction, which offers 0.0682 new EVN shares for each Carnaby share, to close as outlined ahead of mid-November, suggesting Carnaby will trade as a proxy for Evolution Mining and the gold price.
Based on the consensus price target for Evolution Mining of $13.50, the broker implies a read-through valuation for Carnaby of $0.92 per share.
This report was published on September 16, 2026.
Target price is $1.30 Current Price is $0.96 Difference: $0.335
If CNB meets the Moelis target it will return approximately 35% (excluding dividends, fees and charges).
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 96.50.
Forecast for FY28:
Moelis forecasts a full year FY28 dividend of 0.00 cents and EPS of 26.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.67.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CU6 CLARITY PHARMACEUTICALS LIMITED
Medical Equipment & Devices - Overnight Price: $2.18
Canaccord Genuity rates ((CU6)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Clarity Pharmaceuticals with its target price decreased to $8.38 from $8.41 following FY26 results and timeline adjustments.
The upcoming Phase III CLARIFY and AMPLIFY readouts scheduled for the first half of 2027 serve as key catalysts to validate 64Cu-SAR-bisPSMA's diagnostic performance in primary staging and biochemical recurrence within the US market.
The analyst notes AMPLIFY has completed recruitment of 232 patients while CLARIFY enrolment nears completion, providing potential to de-risk the commercial value of the asset.
The commercial launch strategy anticipates targeting 100 large-volume hospitals with approximately 60 sales representatives.
The revised valuation accounts for a later FDA approval in the second half of 2028, supported by estimated peak sales of US$860m in FY35.
This report was published on September 16, 2026.
Target price is $8.38 Current Price is $2.18 Difference: $6.2
If CU6 meets the Canaccord Genuity target it will return approximately 284% (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
The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE
If you already had your free trial, why not join as a paying subscriber? CLICK HERE