Daily Market Reports | 10:45 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
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AHL AWJ BXB CPU GL1 KMD LNW OMA PMV
AHL ADRAD HOLDINGS LIMITED
Automobiles & Components - Overnight Price: $1.40
Taylor Collison rates ((AHL)) as Outperform (2) -
Taylor Collison rates Adrad Outperform with its target price increased to $1.85 following an FY26 result that missed the broker's forecasts, featuring revenue of $156.6m and EBIT of $10.3m.
The earnings shortfall against Taylor Collison's estimates reflects lower margins within the distribution business, though margin rectification work completed at the end of the period is expected to return EBIT margins closer to historic double-digit levels over time.
The analyst highlights the company provides exposure to the growing data centre capital expenditure cycle without the premium valuation multiples seen elsewhere in the sector, given its role in supplying cooling systems to critical infrastructure generators.
Growing pipelines across the mining and defence industries offer additional revenue diversification.
Taylor Collison lifts the FY27 earnings per share forecast to 13.7c from 12.8c to reflect increased conviction in management initiatives to improve margins, noting the stock trades on an attractive 10.6x price-to-earnings multiple while paying an approximate 4.7% dividend yield.
This report was published on September 22, 2026.
Target price is $1.85 Current Price is $1.40 Difference: $0.45
If AHL meets the Taylor Collison target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY27:
Taylor Collison forecasts a full year FY27 dividend of 6.90 cents and EPS of 13.70 cents.
At the last closing share price the estimated dividend yield is 4.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.22.
Forecast for FY28:
Taylor Collison forecasts a full year FY28 dividend of 7.60 cents and EPS of 15.20 cents.
At the last closing share price the estimated dividend yield is 5.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.21.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AWJ AURIC MINING LIMITED
Gold & Silver - Overnight Price: $0.24
Research as a Service (RaaS) rates ((AWJ)) as No Rating (-1) -
Auric Mining shares continue to trade at a significant discount to Research as a Service's (RaaS) valuation, hence why the latest research update reiterates the stock represents a compelling opportunity amongst emerging gold producers.
Following two recent acquisitions, the analyst notes the company has proforma net cash of circa $30m as of September 2026, which continues to support further exploration, tolling opportunities, asset acquisitions, and still potentially provide a material contribution towards funding Burbanks.
The latter, commentary points out, is according to a recently released study a mining operation that can produce 141koz over five years, with first production and cash flows targeted for early 2028.
Updated modelling has lifted RaaS's valuation to $0.537/share from $0.428/share, which remains at a substantial premium to the current share price.
RaaS research doesn't carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on September 28, 2026.
Target price is $0.54 Current Price is $0.24 Difference: $0.292
If AWJ meets the Research as a Service (RaaS) target it will return approximately 119% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY26:
Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.07 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.04.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 2.04 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 12.01.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BXB BRAMBLES LIMITED
Transportation & Logistics - Overnight Price: $18.55
Jarden rates ((BXB)) as Overweight (2) -
Jarden maintains an Overweight rating for Brambles with an unchanged $23.70 target price following the release of the US Pallets Cost Tracker for August 2026.
Softwood lumber costs eased from a 15.0% peak in July to an 11.8% increase, outpacing the 5.8% rise in wood pallet pricing.
The monthly spread between input costs and pricing remained negative for four consecutive months, registering at -7.7 percentage points for 1H27 year-to-date.
The analyst suggests the industry is temporarily absorbing this cost spike at the expense of margins, while a 45.7% acceleration in diesel and an 11.3% rise in freight rates indicate emerging pass-through risks.
Jarden views the August data as less supportive of the 1H27 cost outlook for the business, alongside food and beverage retailer inventories sitting above long-run averages as a supportive volume signal ahead of October results.
This report was published on September 25, 2026.
Target price is $23.70 Current Price is $18.55 Difference: $5.15
If BXB meets the Jarden target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $21.38, suggesting upside of 15.2%(ex-dividends)
Forecast for FY27:
Current consensus EPS estimate is 115.7, implying annual growth of N/A.
Current consensus DPS estimate is 87.1, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 16.0.
Forecast for FY28:
Current consensus EPS estimate is 126.5, implying annual growth of 9.3%.
Current consensus DPS estimate is 93.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 14.7.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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