Weekly Reports | 11:00 AM
A summary of the highlights from Broker Call Extra updates throughout the week past.
Broker Rating Changes (Post Thursday Last Week)
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AMPLITUDE ENERGY LIMITED ((AEL)) Upgrade to Buy from Overweight by Jarden.B/H/S: 0/0/0
Jarden upgrades its rating for Amplitude Energy to Buy from Overweight with its target price increased to $2.10 from $2.03 following the sanctioning of the East Coast Supply Project development phase and the Nestor gas exploration well.
The fully committed development involves tying the Annie, Juliet, and Artisan fields into existing offshore infrastructure to deliver up to 90 terajoules of gas per day from 2028.
DATA#3 LIMITED. ((DTL)) Upgrade to Neutral from Underweight by Jarden.B/H/S: 0/0/0
Jarden upgrades its rating for Data#3 to Neutral from Underweight with its target price increased to $12.10 from $9.80 following a strong 1H27 trading update featuring 15% gross profit growth and 40% profit before tax growth.
The gross profit beat was primarily driven by a very large, one-off infrastructure transaction not expected to repeat in the second half of the year.
Profit before tax metrics further benefited from the timing of staff cost investments carrying a greater skew into the second half of the year, alongside interest income exceeding expectations by $1.5m.
FY27 profit before tax forecast is lifted by 8% to $95m but only minor adjustments have been made to FY28 forecasts due to the isolated nature of the first-half drivers.
While valuation screens as stretched at a 29x forward price-to-earnings multiple, Jarden views the earnings risks as skewed to the upside amid an increasingly positive backdrop for artificial intelligence and cybersecurity spending.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Upgrade | |||||
| 1 | AMPLITUDE ENERGY LIMITED | Buy | Buy | Jarden | |
| 2 | DATA#3 LIMITED. | Neutral | Sell | Jarden | |
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