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
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)
AFP BC8 ELT IMU KAN LGI OMA RXL SRZ
AFP AFT PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences - Overnight Price: $3.56
Jarden rates ((AFP)) as Overweight (2) -
Jarden maintains an Overweight rating for AFT Pharmaceuticals with its target price increased to NZ$4.60 from NZ$4.25 following a September quarter update outlining double-digit revenue growth across all divisions during the first half of FY27.
Management remains confident in achieving an FY27 sales target of NZ$300m alongside operating profit guidance between NZ$28m and NZ$32m.
The analyst notes the company is growing according to plan, forecasting first-half revenue to increase 20%, earnings before interest and taxes to rise 61%, and net profit after tax to jump 60%.
For the full year, Jarden's estimates model sales of NZ$305m and an operating profit of NZ$31m.
This report was published on October 7, 2026.
Current Price is $3.56. 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
BC8 BLACK CAT SYNDICATE LIMITED
Gold & Silver - Overnight Price: $0.72
Moelis rates ((BC8)) as Buy (1) -
In response to today's market update by Black Cat Syndicate, Moelis comments that results, particularly at Lynx, demonstrate the presence of high-grade mineralisation in close proximity to existing underground infrastructure.
The broker's view remains that exploration remains a source of upside for Black Cat, but as the company needs to rebuild investor interest, consistent production, greater visibility on the mine plan and cash generation are seen as most important.
Buy. Target 90c.
This report was published on October 8, 2026.
Target price is $0.90 Current Price is $0.72 Difference: $0.175
If BC8 meets the Moelis target it will return approximately 24% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 15.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.80.
Forecast for FY28:
Moelis forecasts a full year FY28 dividend of 0.00 cents and EPS of 20.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.49.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ELT ELEMENTOS LIMITED
Tin - Overnight Price: $0.48
Shaw and Partners rates ((ELT)) as Buy (1) -
Shaw and Partners reiterates its Buy rating for Elementos with its target price increased to $0.70 from $0.65 following the release of FY26 financial accounts and progress across key approvals at the Oropesa Tin Project in Spain.
The immediate priority centres on securing the Unified Environmental Authorisation and Mining Licence through the regional government of Andalucia, with a compliance declaration expected within six to eight weeks to initiate public consultation.
Environmental permitting is targeted by the end of the first quarter of 2027, followed by the mining licence after four weeks of administration to achieve shovel-ready status by June 2027.
The analyst notes the asset benefits from strong regional momentum, with mining companies committing over EUR2.2bn across nearby developments to stimulate local employment.
Following an estimated 20-month construction phase commencing in FY28 with capital expenditure of EUR149m, commercial tin extraction is forecast to commence in FY29.
This report was published on October 7, 2026.
Target price is $0.70 Current Price is $0.48 Difference: $0.22
If ELT meets the Shaw and Partners target it will return approximately 46% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 36.92.
Forecast for FY28:
Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of minus 3.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 16.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three source
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