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)
ALL APE B4P BM1 BNZ BSL CBO CCP DOW ELT EOS FFM (2) FHE FMG GGP (3) GMD GTK HLS IKE KAN KAR LFT MGR MHJ NCK (2) PLT RMS SHG SKY SRZ STK STO VAU VNT WOR
ALL ARISTOCRAT LEISURE LIMITED
Gaming - Overnight Price: $63.72
Jarden rates ((ALL)) as Downgrade to Overweight from Buy (2) -
Jarden adjusts its rating for Aristocrat Leisure to Overweight from Buy with its target price increased to $67.00 from $66.00 ahead of upcoming full-year results.
Jarden expects an in-line FY26 result featuring EBITDA of $2,232m and EPS of 261cps.
Jarden details gaming leads performance with net installs reaching 5.0k, offsetting Interactive -6% and Digital -1% segment impacts.
Jarden highlights FY27 net installs are forecast at 4.5k, sitting -3% below consensus as Dragon Link peaks.
Jarden views stock quality as fully priced at 22x FY27 price-to-earnings multiples.
This report was published on October 23, 2026.
Target price is $67.00 Current Price is $63.72 Difference: $3.28
If ALL meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $65.33, suggesting upside of 2.9%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 255.8, implying annual growth of 11.6%.
Current consensus DPS estimate is 98.9, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 24.8.
Forecast for FY27:
Current consensus EPS estimate is 287.7, implying annual growth of 12.5%.
Current consensus DPS estimate is 110.0, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 22.1.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components - Overnight Price: $19.09
Canaccord Genuity rates ((APE)) as Buy (1) -
Canaccord Genuity maintains its Buy rating for Eagers Automotive with its target price increased to $29.00 from $28.80 following a binding agreement to acquire the remaining 20% stake in EV Dealer Group.
The transaction is expected to be 5.0% to 5.5% earnings accretive based on pro-forma underlying operating profit before tax for the twelve months ending 30 June 2026.
The analyst highlights that early positioning with BYD has secured an important contributor to overall outcomes while supporting leadership ambitions in the Australian market.
Earnings per share estimates are revised upward by 0.8% for FY26, 1.9% for FY27, and 1.2% for FY28 to reflect transaction adjustments and growth trends.
This report was published on October 27, 2026.
Target price is $29.00 Current Price is $19.09 Difference: $9.91
If APE meets the Canaccord Genuity target it will return approximately 52% (excluding dividends, fees and charges).
Current consensus price target is $26.12, suggesting upside of 37.0%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 105.9, implying annual growth of 21.6%.
Current consensus DPS estimate is 78.5, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 18.0.
Forecast for FY27:
Current consensus EPS estimate is 122.3, implying annual growth of 15.5%.
Current consensus DPS estimate is 86.0, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 15.6.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
B4P BEFOREPAY GROUP LIMITED
Diversified Financials - Overnight Price: $1.35
Shaw and Partners rates ((B4P)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Beforepay Group with its target price unchanged at $2.90 following the release of the September quarter FY27 result.
The analyst highlights quarterly revenue reached $16.5m, representing a 46% increase versus the prior corresponding period driven by pricing adjustments and larger loan sizes.
Cash NPAT for the period came in at $5.7m, prompting Shaw and Partners to adjust earnings projections by up to -11% over the forecast period.
Underlying EPS is forecast at 41.1c for FY27, supporting an attractive price-to-earnings multiple of 3.3x.
Commentary highlights the company trades at an unusual discount to the small-cap financial sector with 43.1% EPS growth projected for FY27.
This report was published on October 27, 2026.
Target price is $2.90 Current Price is $1.35 Difference: $1.55
If B4P meets the Shaw and Partners target it will return approximately 115% (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 41.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.28.
Forecast for FY28:
Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of 48.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.79.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BM1 BALLARD MINING LIMITED
Gold & Silver - Overnight Price: $0.61
Moelis rates ((BM1)) as Buy (1) -
Moelis maintains a Buy rating for Ballard Mining with its target price increased to $1.20 from $1.15 following the release of the September quarter activities report.
The quarterly update details exploration work streams alongside a closing cash balance of $44m.
Moelis rolls forward its valuation modelling to incorporate recent equity raising impacts and cash burn parameters.
Project planning centres on standalone development featuring an anticipated processing capacity of 2mtpa and annual gold production of approximately 100koz ahead of FY29 commissioning.
The analyst highlights strong regional geological potential and solid funding runway supporting ongoing exploration programs.
This report was published on October 27, 2026.
Target price is $1.20 Current Price is $0.61 Difference: $0.59
If BM1 meets the Moelis target it will return approximately 97% (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 minus 1.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 46.92.
Forecast for FY28:
Moelis forecasts a full year FY28 dividend of 0.00 cents and EPS of minus 2.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 26.52.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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