Daily Market Reports | 11:00 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)
ABB ACE AIH BRE BWN CDA CTM EXP FCL GMD IKE IMB LBL LOT MAF NEM OBM OFX OMA ORE PYC SLX TCG TNE TPW WC8
EXP EXPERIENCE CO LIMITED
Travel, Leisure & Tourism - Overnight Price: $0.09
Canaccord Genuity rates ((EXP)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Experience Co with a $0.15 target price following a 1Q27 trading update featuring revenue of $32.8m, up 6% year-on-year.
Underlying EBITDA grew 20% year-on-year to $4.8m while underlying EBIT rose 37% year-on-year to $1.7m, expanding EBITDA margins by 160bps through operating leverage.
Skydiving drove divisional improvements with 1Q tandem volumes rising 7% to deliver its strongest first quarter in four years, supported by positive Golden Week trading momentum in October.
Adventure Experiences revenue grew 4% year-on-year to $19.6m, supported by strong yield growth across Reef Unlimited and Treetops operations.
Canaccord Genuity leaves forecasts unchanged while highlighting an upcoming enterprise bargaining hearing in November as a potential cost risk consideration.
This report was published on October 26, 2026.
Target price is $0.15 Current Price is $0.09 Difference: $0.062
If EXP meets the Canaccord Genuity target it will return approximately 70% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
FCL FINEOS CORPORATION HOLDINGS PLC
Cloud services - Overnight Price: $1.90
Moelis rates ((FCL)) as Buy (1) -
Moelis retains a Buy rating for Fineos Corp with a $3.21 target price following a third-quarter cash flow update demonstrating 45.7% year-to-date cash flow growth to EUR22.5m.
Management reaffirmed 2026 revenue and EBITDA guidance, with the strong quarter reinforcing confidence in meeting or exceeding full-year expectations.
Operational momentum continues to be driven by expanding subscription revenues and cost discipline across customer deployment programs.
Subscription growth in 2027 is projected to benefit from expanded migrations onto Guardian Life's platform alongside go-live milestones for OneAmerica and another AdminSuite client.
The analyst views the share price weakness as an entry opportunity given the stock trades in line with its three-year average EV/revenue multiple despite improving underlying metrics.
This report was published on October 26, 2026.
Target price is $3.21 Current Price is $1.90 Difference: $1.31
If FCL meets the Moelis target it will return approximately 69% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 76.15.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 3.83 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 49.66.
This company reports in EUR. 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
GMD GENESIS MINERALS LIMITED
Gold & Silver - Overnight Price: $6.38
Canaccord Genuity rates ((GMD)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Genesis Minerals with its target price increased to $9.75 from $9.65 following a September quarter report featuring group gold production of 72koz in line with Canaccord Genuity's estimates.
Leonora production reached 44koz, down 4% quarter-on-quarter due to lower-grade stoping sequences at Gwalia, while Laverton output rose 13% quarter-on-quarter to 28koz supported by record mining at Jupiter.
Cash and bullion expanded by $73m quarter-on-quarter to $575m, while management maintained FY27 production guidance of 270koz to 300koz at all-in sustaining costs of $2,750/oz to $3,050/oz.
The pending Vault Minerals ((VAU)) merger scheme vote remains scheduled for 11 November ahead of a combined long-term strategic plan planned for release in the June quarter of 2027.
The analyst revises FY27 production forecasts slightly higher to 283koz at all-in sustaining costs of $2,942/oz to reflect the quarterly outcome, driving the upgraded valuation.
This report was published on October 26, 2026.
Target price is $9.75 Current Price is $6.38 Difference: $3.37
If GMD meets the Canaccord Genuity target it will return approximately 53% (excluding dividends, fees and charges).
Current consensus price target is $9.04, suggesting upside of 41.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 47.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 51.7, implying annual growth of -5.4%.
Current consensus DPS estimate is 1.7, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 12.3.
Forecast for FY28:
Canaccord Genuity forecasts a full year FY28 dividend of 0.00 cents and EPS of 66.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 63.3, implying annual growth of 22.4%.
Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 10.1.
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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