Australian Broker Call *Extra* Edition – Oct 30, 2026

This story features AML3D LIMITED, and other companies.
For more info SHARE ANALYSIS: AL3

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)

AL3 AMI (2) AOV AUE BM1 BML BOT CTM CWP (2) ELV GDG GHM HUB KLS LM8 LRK MLX OBL ORI PLT PPS PRU REA SDR SFR (2) SHA SXE UNI WC8 WLC

AL3 AML3D LIMITED

Commercial Services & Supplies – Overnight Price: $0.12

Shaw and Partners rates ((AL3)) as Buy (1) –

Shaw and Partners retains its Buy rating for AML3D with a $0.30 target price following a $2.2m order for a large ARCEMY X system from US Navy prime contractor Northrop Grumman Marine Systems.

Expected to be fulfilled by the end of FY27, the contract supports the broker’s estimates of $19.6m in revenue for the period and marks the first Australian supplier engaged by the contractor for marine industrial base supply.

The analyst highlights a $78m pipeline alongside ongoing discussions regarding an Ohio print farm facility capable of housing up to ten systems.

The report highlights the stock trades at a substantial discount to ASX additive manufacturing peers on an enterprise value-to-revenue basis while benefiting from reshoring initiatives in the US.

This report was published on October 28, 2026.

Target price is $0.30 Current Price is $0.12 Difference: $0.175
If AL3 meets the Shaw and Partners target it will return approximately 140% (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 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 20.83.

Forecast for FY28:

Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 62.50.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AMI AURELIA METALS LIMITED

Gold & Silver – Overnight Price: $0.42

Moelis rates ((AMI)) as Buy (1) –

Moelis retains a Buy rating for Aurelia Metals with its target price increased to $0.57 from $0.52 following a robust first-quarter production report that surpassed expectations.

Gold production reached 16.2koz, materially beating the broker’s 12.9koz estimate, while copper production of 1.3kt exceeded the 0.8kt forecast, driven by higher-than-anticipated ore grades offsetting slightly lower mill throughput.

Improved metal output and higher realised prices propelled the quarterly all-in sustaining cost margin to $70.7m and generated operating cashflow of $65.3m, pushing the closing cash balance to $160.7m.

Operating costs fell to $89.4m from $92.6m in the prior quarter, aided by reduced mining expenditure, while management reaffirmed full-year FY27 guidance.

The analyst considers the company’s ability to fund growth projects through organic free cashflow highly appealing, expecting sustained generation to support a reliable 2.0c annual dividend from FY27.

This report was published on October 29, 2026.

Target price is $0.57 Current Price is $0.42 Difference: $0.145
If AMI meets the Moelis target it will return approximately 34% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 2.00 cents and EPS of 6.90 cents.
At the last closing share price the estimated dividend yield is 4.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.16.

Forecast for FY28:

Moelis forecasts a full year FY28 dividend of 2.00 cents and EPS of 9.80 cents.
At the last closing share price the estimated dividend yield is 4.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.34.

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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Shaw and Partners rates ((AMI)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Aurelia Metals with its target price unchanged at $0.55 following a strong September quarter production result.

Gold production reached 16.2koz, tracking at 27% of the upper end of full-year FY27 guidance, while copper and zinc production increased sequentially to 1.3kt and 8.3kt respectively.

Group operating costs fell to -$89.4m, driving Cobar Region operating cash flow to $65.3m and elevating total liquidity to $200.7m.

While the Great Cobar development remains on schedule for first ore in FY28, commissioning of the tertiary ball mill at the Peak processing plant expansion has been delayed by approximately one quarter.

The analyst views the robust free cash flow generation as supportive of the company remaining self-funding across its growth programs and establishing a foundation for future dividend growth.

This report was published on October 29, 2026.

Target price is $0.55 Current Price is $0.42 Difference: $0.125
If AMI meets the Shaw and Partners target it will return approximately 29% (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 1.00 cents and EPS of 7.10 cents.
At the last closing share price the estimated dividend yield is 2.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.99.

Forecast for FY28:

Shaw and Partners forecasts a full year FY28 dividend of 1.00 cents and EPS of 9.10 cents.
At the last closing share price the estimated dividend yield is 2.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.67.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AOV AMOTIV LIMITED

Automobiles & Components – Overnight Price: $5.24

Canaccord Genuity rates ((AOV)) as Buy (1) –

Canaccord Genuity lowers its price target for Amotiv to $9.90 from $10.30 while retaining its Buy rating following lower FY27 guidance provided during the company’s AGM trading update.

Canaccord Genuity notes that difficult trading conditions, lower new vehicle sales, Middle East conflict cost impacts, weaker consumer activity, and recent flooding in Thailand affecting OEM customers have weighed on performance.

Furthermore, an increase in legal expenses for a dispute previously expected to reach a mediated resolution has added non-operational costs to the revised guidance.

The analyst highlights that these headwinds are largely non-recurring or near cyclical lows, supporting a balanced second-half skew driven by pricing, currency benefits, and cost efficiencies.

This report was published on October 27, 2026.

Target price is $9.90 Current Price is $5.24 Difference: $4.66
If AOV meets the Canaccord Genuity target it will return approximately 89% (excluding dividends, fees and charges).
Current consensus price target is $6.71, suggesting upside of 28.1%(ex-dividends)

Forecast for FY27:

Current consensus EPS estimate is 86.8, implying annual growth of 55.5%.
Current consensus DPS estimate is 41.8, implying a prospective dividend yield of 8.0%.
Current consensus EPS estimate suggests the PER is 6.0.

Forecast for FY28:

Current consensus EPS estimate is 97.0, implying annual growth of 11.8%.
Current consensus DPS estimate is 46.9, implying a prospective dividend yield of 9.0%.
Current consensus EPS estimate suggests the PER is 5.4.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AUE AURUM RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.48

Canaccord Genuity rates ((AUE)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Aurum Resources with its target price unchanged at $1.50 following an updated mineral resource estimate for the Boundiali Gold Project in Cote d’Ivoire.

Total resources increased 19% to 3.84Moz at 1.0g/t gold across 125.1Mt, driven by resource conversion and expansion across core deposits alongside a maiden 130koz resource at BMT2.

Higher-confidence Indicated Resources expanded 37% to 2.33Moz at 1.0g/t gold, offering a stronger foundation for the definitive feasibility study due later in 2026.

The higher-grade inventory component grew by 650koz to 2.0Moz at 1.7g/t gold, providing key flexibility for mine scheduling and optimisation work.

The analyst considers the larger resource base a key driver to enhance future ore reserve conversion beyond the current 1.21Moz reserve established in the June 2026 pre-feasibility study.

This report was published on October 27, 2026.

Target price is $1.50 Current Price is $0.48 Difference: $1.015
If AUE meets the Canaccord Genuity target it will return approximately 209% (excluding dividends, fees and charges).

Market Sentiment: 1.0
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: $0.60

Canaccord Genuity rates ((BM1)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Ballard Mining with a $1.65 target price following extensional drilling results from the Mt Ida Gold Project in Western Australia.

Deep drilling intersected multiple high-grade mineralised positions beyond the existing 1.36Moz Baldock resource, supported by downhole geophysics indicating mineralisation potential extending to 1,100m vertical depth.

Shallow extensional drilling across satellite prospects including Ayla, Vortex, Astro-Quasar, and Pluto also delivered encouraging high-grade intersections outside existing resources.

The company targets a definitive feasibility study and maiden ore reserve in mid-2027, backed by pro forma cash of $89m following a recent $45m equity placement.

The analyst notes the drilling success reinforces potential for the Mt Ida resource base to exceed 2Moz and expand mine life beyond 10 years.

This report was published on October 28, 2026.

Target price is $1.65 Current Price is $0.60 Difference: $1.05
If BM1 meets the Canaccord Genuity target it will return approximately 175% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BML BOAB METALS LIMITED

Mining – Overnight Price: $0.29

Shaw and Partners rates ((BML)) as Buy (1) –

Shaw and Partners maintains its Buy rating for Boab Metals with its target price decreased to $1.45 from $1.70 following the release of the Sorby Hills Project Delivery Plan.

The updated plan extends the anticipated mine life to 10.5 years and upgrades the ore reserve to 18.3m tonnes at 37.3g/t silver and 3.2% lead, yielding a 15% increase in contained silver alongside a 10% rise in contained lead.

Pre-production capital cost estimates fell slightly to -$262m, while the fully funded silver-lead project remains on schedule for initial concentrate production in the September quarter of 2027.

The analyst models a more conservative ramp-up profile for the operation and applies a lower silver price forecast reflecting a recent pullback in spot markets.

Shaw considers the asset an advanced, robust project offering rare exposure to a large silver resource with strong cash flow generation potential.

This report was published on October 28, 2026.

Target price is $1.45 Current Price is $0.29 Difference: $1.16
If BML meets the Shaw and Partners target it will return approximately 400% (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 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 14.50.

Forecast for FY28:

Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of 15.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1.91.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BOT BOTANIX PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.01

Canaccord Genuity rates ((BOT)) as Downgrade to Hold from Buy (3) –

Canaccord Genuity reduces its rating for Botanix Pharmaceuticals to Hold from Buy with its target price reduced to $0.01 from $0.14 following a weaker-than-expected 1Q FY27 update.

Both prescription volumes and gross-to-net yield missed expectations, with Sofdra net revenue remaining flat quarter-on-quarter.

Management implemented cost reductions targeting approximately -50% reduction in operating expenditure and approximately -60% reduction in headcounts, though Canaccord expects these measures to constrain top-line growth.

Updated estimates reflect lowered FY27-FY29 sales forecasts by -24%-43% following the restructure.

This report was published on October 27, 2026.

Target price is $0.01 Current Price is $0.01 Difference: minus $0.002 (current price is over target).
If BOT meets the Canaccord Genuity target it will return approximately minus 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CTM CENTAURUS METALS LIMITED

Nickel – Overnight Price: $0.33

Canaccord Genuity rates ((CTM)) as Speculative Buy (1) –

Canaccord Genuity retains a Speculative Buy rating for Centaurus Metals with its target price unchanged at $1.05 following new binding off-take agreements and a combined US$40m strategic equity investment from Glencore ((GLC)) and CNGR.

The off-take commitments cover 100% of forecast nickel concentrate production over the first five years of operations at the Jaguar Nickel Sulphide Project.

Glencore and CNGR will each invest US$20m across two tranches at $0.425/sh, representing a 5% premium to the 20-day volume-weighted average price.

Senior debt financing progress positions the business towards securing its overall funding package ahead of a targeted final investment decision later in 2026.

The analyst considers securing two credible downstream partners across initial production a meaningful de-risking milestone for the development pathway.

This report was published on October 27, 2026.

Target price is $1.05 Current Price is $0.33 Difference: $0.72
If CTM meets the Canaccord Genuity target it will return approximately 218% (excluding dividends, fees and charges).

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CWP CEDAR WOODS PROPERTIES LIMITED

Infra & Property Developers – Overnight Price: $6.06

Moelis rates ((CWP)) as Buy (1) –

Moelis maintains its Buy rating for Cedar Woods Properties with its target price decreased to $9.40 from $9.80 following first-quarter settlements of 311 units, which tracked ahead of the required rate for the FY27 target.

Gross sales of 167 fell -57% year-on-year amid a softening macro backdrop, though scheduled settlements from a $763m presales balance cover 92% of FY27 revenue forecasts.

The analyst lowers medium-term EPS estimates slightly on more conservative assumptions regarding settlement volumes and debt costs, while also noting FY27 NPAT growth guidance of 15% has been reiterated by management.

The stock is seen trading at an attractive discount with an FY27 P/E of 7.1x compared to its ten-year historical average of 10.3x.

Moelis highlights that a robust balance sheet and large landbank position the company well to deliver medium-term growth as housing demand returns.

This report was published on October 28, 2026.

Target price is $9.40 Current Price is $6.06 Difference: $3.34
If CWP meets the Moelis target it will return approximately 55% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 44.20 cents and EPS of 88.80 cents.
At the last closing share price the estimated dividend yield is 7.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.82.

Forecast for FY28:

Moelis forecasts a full year FY28 dividend of 45.70 cents and EPS of 92.00 cents.
At the last closing share price the estimated dividend yield is 7.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.59.

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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Shaw and Partners rates ((CWP)) as Buy (1) –

Shaw and Partners maintains its Buy rating for Cedar Woods Properties with its target price decreased to $8.05 from $9.55 following a September quarter trading update and the reiteration of FY27 NPAT guidance of $75m.

Gross sales fell -57% versus the prior corresponding period during the quarter, reflecting fewer stage releases and restrained marketing activity.

Management expects sales activity to improve moving forward, with additional inventory releases and increased marketing planned through the balance of FY27.

Shaw adopts a more conservative earnings outlook, applying a -1% to -20% reduction to FY27 through FY29 EPS forecasts alongside a lower 10% net tangible asset valuation premium reflecting the higher interest rate environment.

The analyst considers the business well positioned to supply quality homes into the Australian housing shortage and drive solid profit growth through to FY29.

This report was published on October 28, 2026.

Target price is $8.05 Current Price is $6.06 Difference: $1.99
If CWP meets the Shaw and Partners target it will return approximately 33% (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 44.00 cents and EPS of 87.30 cents.
At the last closing share price the estimated dividend yield is 7.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.94.

Forecast for FY28:

Shaw and Partners forecasts a full year FY28 dividend of 48.00 cents and EPS of 94.80 cents.
At the last closing share price the estimated dividend yield is 7.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.39.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ELV ELEVRA LITHIUM LIMITED

New Battery Elements – Overnight Price: $3.38

Canaccord Genuity rates ((ELV)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Elevra Lithium with its target price at $15.35 following a September quarter report featuring spodumene production of 54.9kt ahead of expectations alongside cash costs of US$780/t falling below forecasts.

Canaccord Genuity highlights closing cash of US$319m, which was bolstered by operating cash flow, convertible note receipts, and post-quarter proceeds from the Ewoyaa project sale.

Commentary highlights pro-forma cash of approximately US$380m provides adequate funding to complete the North American Lithium expansion and cover Moblan study costs.

The analyst notes a recent binding offtake agreement with LG Energy and new pricing structures should help align realised pricing with broader market levels after historical lags.

This report was published on October 27, 2026.

Target price is $15.35 Current Price is $3.38 Difference: $11.97
If ELV meets the Canaccord Genuity target it will return approximately 354% (excluding dividends, fees and charges).
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 31.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.90.

Forecast for FY28:

Canaccord Genuity forecasts a full year FY28 dividend of 0.00 cents and EPS of 60.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.63.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

GDG GENERATION DEVELOPMENT GROUP LIMITED

Wealth Management & Investments – Overnight Price: $3.15

Moelis rates ((GDG)) as Buy (1) –

Moelis maintains a Buy rating for Generation Development with a $5.91 target price following its 1Q27 platform, product, and wealth services update.

Investment Bonds sales inflows of $518.4m exceeded Moelis’s estimate of $450.0m and consensus of $457.0m, lifting closing funds under management to $6.4bn.

Managed Accounts delivered $1.5bn in net flows, topping Moelis’s estimate of $1.3bn and bringing closing funds under management to $41.7bn.

Annuities sales rose 71% on the prior corresponding period to $8.5m over the quarter.

Lonsec Research and Ratings closed the period with 2,055 products researched, up 54 quarter-on-quarter.

This report was published on October 29, 2026.

Target price is $5.91 Current Price is $3.15 Difference: $2.76
If GDG meets the Moelis target it will return approximately 88% (excluding dividends, fees and charges).
Current consensus price target is $5.15, suggesting upside of 63.4%(ex-dividends)

Forecast for FY27:

Current consensus EPS estimate is 12.0, implying annual growth of 49.8%.
Current consensus DPS estimate is 3.0, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 26.3.

Forecast for FY28:

Current consensus EPS estimate is 15.2, implying annual growth of 26.7%.
Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 20.7.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

GHM GOLDEN HORSE MINERALS LIMITED

Gold & Silver – Overnight Price: $0.46

Shaw and Partners rates ((GHM)) as Buy (1) –

Shaw and Partners maintains its Buy rating for Golden Horse Minerals with a $1.25 target price following a September quarter featuring strong drilling results demonstrating scale and high-grade potential at the Southern Cross Gold Project.

A standout intercept of 4m at 73.3g/t Au from 88m at Hopes Hill North opens a new area for follow-up 2.1km north-west of the main pit.

Regional exploration provided additional upside through first-pass RC drilling at Greenmount, returning significant mineralisation across all nine holes alongside multiple high-grade surface samples at Withers.

The company ended September with $22.6m in cash to fund ongoing drilling ahead of a maiden Mineral Resource Estimate targeted before the end of March 2027.

The analyst anticipates resource growth to underpin the valuation while highlighting the maiden estimate as a key near-term catalyst.

This report was published on October 28, 2026.

Target price is $1.25 Current Price is $0.46 Difference: $0.79
If GHM meets the Shaw and Partners target it will return approximately 172% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 23.00.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 30.67.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

HUB HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $72.11

Moelis rates ((HUB)) as Buy (1) –

Moelis maintains a Buy rating for Hub24 with a $103.40 target price following the release of its 1Q27 platform, product, and wealth services update.

Platform funds under administration (FUA) grew 18% year-on-year to $143.7bn, falling slightly short of Moelis’s estimate of $146.2bn, while net inflows of $4.0bn matched Moelis’s expectations despite moderating from $5.2bn in the prior corresponding period.

Adviser footprint expanded 12% year-on-year to 5,860 active advisers alongside 45 new licensee agreements executed during the quarter.

The company expanded its platform market share to 10.1% compared to 9.0% in the prior corresponding period, maintaining first rank for net inflows across 11 consecutive quarters.

In Tech Solutions, Class accounts increased 6% year-on-year while NowInfinity document orders rose 9% over the period.

This report was published on October 29, 2026.

Target price is $103.40 Current Price is $72.11 Difference: $31.29
If HUB meets the Moelis target it will return approximately 43% (excluding dividends, fees and charges).
Current consensus price target is $89.54, suggesting upside of 24.2%(ex-dividends)

Forecast for FY27:

Current consensus EPS estimate is 183.8, implying annual growth of 24.7%.
Current consensus DPS estimate is 89.3, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 39.2.

Forecast for FY28:

Current consensus EPS estimate is 216.6, implying annual growth of 17.8%.
Current consensus DPS estimate is 105.9, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 33.3.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

KLS KELSIAN GROUP LIMITED

Transportation & Logistics – Overnight Price: $3.96

Canaccord Genuity rates ((KLS)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Kelsian Group with its target price unchanged at $5.70 following an AGM featuring reiterated FY27 EBITDA guidance of $295m to $310m.

Canaccord Genuity notes the recent Tourism Portfolio divestment repositions the company towards global commuter and contracted transport, lowering capital intensity and increasing balance sheet flexibility.

Management adjusted the capex allocation framework down to -$73m and highlighted structural public transport tailwinds alongside US growth momentum aided by Texas data centre work.

Commentary suggests pro forma leverage of 2.0x positions the business well for both organic contract wins and potential bolt-on acquisitions.

The analyst views the stock as compelling value after retracing -20% from August levels to trade at 11x forward earnings, falling one standard deviation below historical averages.

This report was published on October 27, 2026.

Target price is $5.70 Current Price is $3.96 Difference: $1.74
If KLS meets the Canaccord Genuity target it will return approximately 44% (excluding dividends, fees and charges).

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LM8 LUNNON METALS LIMITED

Mining – Overnight Price: $0.31

Shaw and Partners rates ((LM8)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Lunnon Metals with a $0.60 target price following a September quarter highlighted by the successful early completion of open-pit mining at Lady Herial.

The operation’s final reconciliation yielded 14,910oz of recovered gold overall, propelling the corporate cash balance to $43m and underwriting a fully funded -$13m exploration campaign for FY27.

The analyst notes the company completed 9,900m of drilling during the period, returning promising early-stage diamond drilling intersections at Benmore alongside infill and extension success at Koombana and Hustler.

Following the quarter’s end, BHP Group ((BHP)) agreed to sell the Kambalda Nickel Concentrator to major shareholder Gold Fields Ltd, carrying significant strategic implications for the company’s fully permitted Baker underground nickel deposit.

While the development path for treating Foster Baker ore remains complex, Shaw awaits further clarity on commercial terms and plant circuit compatibility before incorporating nickel sales into earnings models.

This report was published on October 29, 2026.

Target price is $0.60 Current Price is $0.31 Difference: $0.29
If LM8 meets the Shaw and Partners target it will return approximately 94% (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 6.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.17.

Forecast for FY28:

Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of minus 6.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 5.08.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LRK LARK DISTILLING CO. LIMITED

Food, Beverages & Tobacco – Overnight Price: $0.69

Moelis rates ((LRK)) as Buy (1) –

Moelis maintains a Buy rating for Lark Distilling Co with its target price decreased to $0.97 from $1.01 following a mixed first-quarter trading update.

First-quarter net sales fell -4.5% year-on-year to $3.5m, reflecting a 7.9% increase in domestic sales offset by a -37.7% decline in international revenue amid export delays and distributor onboarding in China.

Slower export ramp-up assumptions drive a reduction in the broker’s net sales estimates to $20.2m for FY27 and $23.7m for FY28, pushing underlying EBITDA forecasts down to -$3.9m and -$3.6m respectively.

The analyst views management’s strategic focus on building sustainable repeat demand over large initial shipments favourably, providing a scalable platform for long-term growth across global travel retail channels.

With the stock trading in line with net tangible assets and backed by a 2.4m litre whisky inventory, Moelis argues valuation remains supportive despite near-term headwinds.

This report was published on October 28, 2026.

Target price is $0.97 Current Price is $0.69 Difference: $0.28
If LRK meets the Moelis target it will return approximately 41% (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 3.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 17.69.

Forecast for FY28:

Moelis forecasts a full year FY28 dividend of 0.00 cents and EPS of minus 3.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.16.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MLX METALS X LIMITED

Tin – Overnight Price: $1.65

Shaw and Partners rates ((MLX)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Metals X with a $1.90 target price following a September quarter characterised by lower tin production and elevated costs at the Renison mine.

Despite tin-in-concentrate production declining -5.2% quarter-on-quarter to 2,663t and all-in sustaining costs rising 13.2% to $39,463/t, the financial impact was partially offset by a higher imputed tin price.

The company’s balance sheet strengthened materially over the period, with closing cash increasing by $60.9m to reach $434.9m.

The analyst notes the Rentails project front-end engineering design study and final investment decision have been delayed into the first half of 2027 due to outstanding environmental approvals.

Looking ahead, Shaw and Partners highlights the proposed 15p per share cash acquisition of First Tin provides a near-term catalyst, but introduces a potential competing claim on capital as the company concurrently advances Rentails.

This report was published on October 29, 2026.

Target price is $1.90 Current Price is $1.65 Difference: $0.25
If MLX meets the Shaw and Partners target it will return approximately 15% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 21.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.64.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 15.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.38.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

OBL OMNI BRIDGEWAY LIMITED

Diversified Financials – Overnight Price: $1.73

Moelis rates ((OBL)) as Buy (1) –

Moelis reiterates its Buy rating for Omni Bridgeway with a $2.83 target price following a strong start to FY27 featuring completion proceeds of $135.8m at a 3.9x MOIC.

The performance generated $9.7m in proceeds alongside $9.4m in cash carried interest, while management fees increased 24% year-on-year with cost coverage reaching 68%.

The analyst notes minor updates to underlying estimates based on the first quarter result, leaving realised EPS forecasts largely unchanged as the capital-light fund management model demonstrates growing recurring fees and improving cost coverage.

Moelis anticipates that significant operating leverage will allow higher fee income to increasingly offset the fixed cost base and convert investment realisations into surplus cash flow.

Sustainable net cash generation remains the key medium-term measure of success to support shareholder capital returns and a potential valuation re-rating.

This report was published on October 27, 2026.

Target price is $2.83 Current Price is $1.73 Difference: $1.105
If OBL meets the Moelis target it will return approximately 64% (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 14.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.58.

Forecast for FY28:

Moelis forecasts a full year FY28 dividend of 0.00 cents and EPS of 26.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.41.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ORI ORICA LIMITED

Mining Sector Contracting – Overnight Price: $22.50

Jarden rates ((ORI)) as Upgrade to Buy from Overweight (1) –

Jarden upgrades to a Buy rating for Orica with its target price decreased to $26.00 from $26.40 ahead of the FY26 result scheduled for November.

Forecast FY26 underlying EBIT of $1,045m sits slightly ahead of consensus expectations of $1,039m.

The analyst notes a recent update provided confidence regarding US ammonium nitrate supply for FY27, though concerns remain over the short 12-month contract duration and potential margin impacts from higher sourcing costs.

The company intends to mitigate the cost impost through targeted savings initiatives.

Jarden downgrades core EPS estimates by -2% across FY27 and FY28 to account for weaker Blasting Solutions EBIT expectations, driving the target price reduction alongside updated valuation inputs.

This report was published on October 28, 2026.

Target price is $26.00 Current Price is $22.50 Difference: $3.5
If ORI meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $26.29, suggesting upside of 16.8%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 122.1, implying annual growth of 264.0%.
Current consensus DPS estimate is 62.7, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 18.4.

Forecast for FY27:

Current consensus EPS estimate is 133.6, implying annual growth of 9.4%.
Current consensus DPS estimate is 70.0, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 16.8.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PLT PLENTI GROUP LIMITED

Business & Consumer Credit – Overnight Price: $0.76

Moelis rates ((PLT)) as Buy (1) –

Moelis maintains its Buy rating for Plenti Group with its target price decreased to $1.66 from $1.70 following record 2Q27 originations of $613m.

This result exceeded the broker’s estimates by 6% and achieved the company’s $600m quarterly origination objective two quarters ahead of the FY27 exit target, driven primarily by strength in renewables and personal loans.

The analyst notes new origination net interest margins remained stable at 5.3% alongside steady annualised net credit losses of 96bps and a slight quarter-on-quarter improvement in 90-day arrears to 42bps.

Closing loan book estimates excluding National Australia Bank ((NAB)) contributions for FY27 to FY29 are increased by between 1.7% and 4.0%, while cash net profit after tax forecasts are reduced by up to -6.0% following an alignment with a restated methodology retaining lease-related depreciation.

Moelis expects continued market share gains across large addressable markets, supported by opportunities across government renewable schemes, new adjacencies in commercial auto lending, and the launch of a renewable referral offering.

This report was published on October 27, 2026.

Target price is $1.66 Current Price is $0.76 Difference: $0.9
If PLT meets the Moelis target it will return approximately 118% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 12.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.98.

Forecast for FY28:

Moelis forecasts a full year FY28 dividend of 0.00 cents and EPS of 14.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.24.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PPS PRAEMIUM LIMITED

Wealth Management & Investments – Overnight Price: $0.56

Moelis rates ((PPS)) as Buy (1) –

Moelis retains its Buy rating for Praemium with its target price increased to $1.11 from $1.10 following 1Q27 platform net flows of $274m, exceeding Moelis’s estimate of $204m.

Closing platform funds under administration reached $34.4bn, while non-custody funds under administration expanded to $45.5bn.

Management reaffirmed $9m in annualised cost savings following the Technotia acquisition and legacy system removals.

Transition to the new platform remains scheduled for completion by the end of 2027.

The analyst emphasises a compelling valuation trading at 12.8x NTM P/E alongside projected 25% three-year EPS CAGR as key investment catalysts.

This report was published on October 29, 2026.

Target price is $1.11 Current Price is $0.56 Difference: $0.55
If PPS meets the Moelis target it will return approximately 98% (excluding dividends, fees and charges).

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PRU PERSEUS MINING LIMITED

Gold & Silver – Overnight Price: $5.90

Canaccord Genuity rates ((PRU)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Perseus Mining with its target price decreased to $7.85 from $8.15 following a weaker September quarter operational update.

Group gold production reached 93koz at an AISC of US$2,035/oz, missing the broker’s estimates of 100koz at US$1,905/oz due to lower head grades at the Edikan and Yaoure operations.

Capital expenditure increased to -US$155m driven by -US$137m in growth spend on Nyanzaga construction and Edikan stripping, while closing cash and bullion remained robust at US$900m.

Management reaffirmed full-year FY27 production guidance of 420koz to 480koz at an AISC of US$1,835/oz to US$2,070/oz, expecting operational performance to improve in the second half.

The analyst considers first gold at Nyanzaga in the March quarter of 2027 a major inflection point for free cash flow generation as group output ramps towards 600koz by FY29.

This report was published on October 27, 2026.

Target price is $7.85 Current Price is $5.90 Difference: $1.95
If PRU meets the Canaccord Genuity target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $7.79, suggesting upside of 32.0%(ex-dividends)

Forecast for FY27:

Current consensus EPS estimate is 60.6, implying annual growth of N/A.
Current consensus DPS estimate is 23.9, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 9.7.

Forecast for FY28:

Current consensus EPS estimate is 77.7, implying annual growth of 28.2%.
Current consensus DPS estimate is 26.6, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 7.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

REA REA GROUP LIMITED

Real Estate – Overnight Price: $157.49

Jarden rates ((REA)) as Neutral (3) –

Jarden maintains a Neutral rating for REA Group with its target price decreased to $169.00 from $183.00, reflecting near-term macroeconomic headwinds that could weigh on listing volumes and dampen the likelihood of positive surprises in premium ad penetration and margin expansion.

The analyst highlights that while the business holds a commanding market leadership position within a supportive long-term industry structure, several risks have emerged.

These potential headwinds include the adverse impact of higher interest rates on house prices, federal budget changes to negative gearing and capital gains tax, declining Net Overseas Migration, and recent AUSTRAC money laundering reforms that could disrupt property market transactions.

Jarden adopts a new valuation methodology comprising an equal-weighted EV/EBITDA multiple of approximately 18x alongside a discounted cash flow model assuming a 10.25% long-term WACC, a 73% long-term group EBITDA margin, and a terminal growth rate of 3.75%.

This report was published on October 28, 2026.

Target price is $169.00 Current Price is $157.49 Difference: $11.51
If REA meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $186.43, suggesting upside of 18.4%(ex-dividends)

Forecast for FY27:

Current consensus EPS estimate is 565.0, implying annual growth of 35.0%.
Current consensus DPS estimate is 340.1, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 27.9.

Forecast for FY28:

Current consensus EPS estimate is 643.9, implying annual growth of 14.0%.
Current consensus DPS estimate is 387.9, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 24.5.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SDR SITEMINDER LIMITED

Travel, Leisure & Tourism – Overnight Price: $3.40

Canaccord Genuity rates ((SDR)) as Buy (1) –

Canaccord Genuity retains its Buy rating for SiteMinder with its target price increased to $4.10 from $3.53 following AGM remarks reaffirming medium-term growth targets.

Chief Executive Officer statements during the meeting clarified FY27 constant currency ARR growth guidance to the mid-20s percentage range from the prior 20s wording, effectively reiterating prior targets.

Under the Smart Platform strategy, early adoption of the DR-plus product line gained momentum with billings doubling quarter-on-quarter, heading towards an estimated $7m exit ARR in FY27.

No changes were made to underlying financial forecasts, though commentary suggests valuation multiples appear increasingly attractive with the stock trading at approximately 25x FY28 estimated earnings at spot prices.

The analyst considers recent share price weakness driven by macroeconomic sentiment an attractive entry point given continued operational execution across subscription and transaction products.

This report was published on October 28, 2026.

Target price is $4.10 Current Price is $3.40 Difference: $0.7
If SDR meets the Canaccord Genuity target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $5.78, suggesting upside of 70.0%(ex-dividends)

Forecast for FY27:

Current consensus EPS estimate is 3.6, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 94.4.

Forecast for FY28:

Current consensus EPS estimate is 11.2, implying annual growth of 211.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 30.4.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SFR SANDFIRE RESOURCES LIMITED

Copper – Overnight Price: $20.27

Canaccord Genuity rates ((SFR)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Sandfire Resources with its target price decreased to $25.00 from $25.25 following a softer September quarter result missing expectations with group copper equivalent production of 38.9kt.

At the Matsa operations, lower zinc grades and recoveries drove a 152% increase in unit costs due to higher maintenance expenses and adverse EUR movements.

Motheo production fell on lower throughput, though C1 unit costs remained under control at US$0.65/lb to beat expectations.

Cash fell -3% sequentially to US$342m following a US$117m dividend payment, missing forecasts due to the lower production result and operating cash flow.

The analyst highlights recent discoveries at the La Juliana prospect demonstrate potential to extend the Matsa mine life, alongside management anticipating production improvements through the remainder of FY27.

This report was published on October 27, 2026.

Target price is $25.00 Current Price is $20.27 Difference: $4.73
If SFR meets the Canaccord Genuity target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $20.72, suggesting upside of 2.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 71.82 cents and EPS of 178.11 cents.
At the last closing share price the estimated dividend yield is 3.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 179.3, implying annual growth of N/A.
Current consensus DPS estimate is 82.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 11.3.

Forecast for FY28:

Canaccord Genuity forecasts a full year FY28 dividend of 93.36 cents and EPS of 170.93 cents.
At the last closing share price the estimated dividend yield is 4.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 179.0, implying annual growth of -0.2%.
Current consensus DPS estimate is 112.2, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 11.3.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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Jarden rates ((SFR)) as Upgrade to Neutral from Underweight (3) –

Jarden lifts its rating for Sandfire Resources to Neutral from Underweight with its target price at $20.50 following a soft start to FY27.

First-quarter copper equivalent production fell -18% quarter-on-quarter to 39kt, missing Jarden’s estimates by -5%, while group EBITDA of US$272m missed expectations by -10%.

Management retained full-year production and cost guidance, though higher exploration expenditure drove a -4% reduction in forecast FY27 EBITDA to US$1.15bn.

The analyst notes valuation metrics remain supportive following a retracement of more than -20% from August peaks, with the stock trading at a modest -4% discount to valuation.

Long-term upside potential is backed by the high-quality Matsa and Motheo operations alongside ongoing exploration at the Kalkaroo project.

This report was published on October 27, 2026.

Target price is $20.50 Current Price is $20.27 Difference: $0.23
If SFR meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $20.72, suggesting upside of 2.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 71.82 cents and EPS of 225.51 cents.
At the last closing share price the estimated dividend yield is 3.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.99.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 179.3, implying annual growth of N/A.
Current consensus DPS estimate is 82.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 11.3.

Forecast for FY28:

Jarden forecasts a full year FY28 dividend of 71.82 cents and EPS of 212.58 cents.
At the last closing share price the estimated dividend yield is 3.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 179.0, implying annual growth of -0.2%.
Current consensus DPS estimate is 112.2, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 11.3.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SHA SHAPE AUSTRALIA CORPORATION LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $6.89

Shaw and Partners rates ((SHA)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Shape Australia with a $9.80 target price following a strong 2026 AGM update.

The company reported its backlog has now exceeded $1.5bn, supported by more than $1.4bn of FY27 project wins, with management highlighting over $1.7bn of known opportunities expected to be awarded within the next 120 days.

A material driver of the strengthened FY27 growth outlook is the recent award of the roughly $800m DigiCo ((DGT)) data centre contract, which management expects to contribute approximately $200m of incremental revenue in both FY27 and FY28 compared to prior forecasts.

Diversification initiatives continue to scale, with modular construction revenue growing to $20.6m in the first quarter and the newly opened Western Australian manufacturing facility securing its first project.

Incorporating the data centre revenue contributions and margin impacts, the broker raises its FY27, FY28, and FY29 EPS forecasts by 3.6%, 2.9%, and 1.8%, respectively.

This report was published on October 29, 2026.

Target price is $9.80 Current Price is $6.89 Difference: $2.91
If SHA meets the Shaw and Partners target it will return approximately 42% (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 40.00 cents and EPS of 48.80 cents.
At the last closing share price the estimated dividend yield is 5.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.12.

Forecast for FY28:

Shaw and Partners forecasts a full year FY28 dividend of 45.00 cents and EPS of 54.30 cents.
At the last closing share price the estimated dividend yield is 6.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.69.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SXE SOUTHERN CROSS ELECTRICAL ENGINEERING LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $4.05

Shaw and Partners rates ((SXE)) as Buy (1) –

Shaw and Partners maintains its Buy rating for Southern Cross Electrical Engineering with a $5.20 target price following a 2026 Annual General Meeting update where management reaffirmed FY27 guidance of at least $110m in EBITDA.

This outlook implies organic and acquired growth of at least 40% supported by the recent Entire Operations integration alongside record monthly revenue achieved in September 2026.

Data centre revenue reached approximately $120m in FY26 and is forecast to grow to around $400m in FY27 as the company leverages existing hyperscale relationships and rising demand for modular construction solutions.

The analyst considers the reaffirmed guidance conservative, noting potential upside from higher gross margins and further accretive acquisitions across geographic and discipline expansions.

Commentary concludes a record order book and strong balance sheet position the company to compound earnings from structural tailwinds across data centres, infrastructure, and grid electrification over the coming decade.

This report was published on October 28, 2026.

Target price is $5.20 Current Price is $4.05 Difference: $1.15
If SXE meets the Shaw and Partners target it will return approximately 28% (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 11.00 cents and EPS of 21.40 cents.
At the last closing share price the estimated dividend yield is 2.72%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.93.

Forecast for FY28:

Shaw and Partners forecasts a full year FY28 dividend of 12.00 cents and EPS of 26.70 cents.
At the last closing share price the estimated dividend yield is 2.96%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.17.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

UNI UNIVERSAL STORE HOLDINGS LIMITED

Apparel & Footwear – Overnight Price: $7.41

Jarden rates ((UNI)) as Overweight (2) –

Jarden maintains an Overweight rating for Universal Store with its target price decreased to $8.90 from $9.20 following a slightly softer trading update.

Year-to-date like-for-like sales growth for the US and PS brands of 3.6% fell slightly below consensus expectations, implying a slowdown across September and October.

While the analyst notes building macroeconomic pressures such as rising rents and fuel prices may impact the retailer’s customer base, outperformance remains achievable through continued store rollouts, market share gains, and variable cost controls.

New CEO long-term incentives require FY29 EPS between 61c and 72c, which aligns with consensus at the midpoint.

Jarden downgrades FY27-FY29 EPS estimates by -3% to -4% and lowers the discounted cash flow valuation to reflect the revised earnings outlook and an increased WACC of 10.8%.

This report was published on October 27, 2026.

Target price is $8.90 Current Price is $7.41 Difference: $1.49
If UNI meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $10.11, suggesting upside of 36.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 45.30 cents and EPS of 53.40 cents.
At the last closing share price the estimated dividend yield is 6.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 55.3, implying annual growth of 132.7%.
Current consensus DPS estimate is 43.6, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 13.4.

Forecast for FY28:

Jarden forecasts a full year FY28 dividend of 46.90 cents and EPS of 56.20 cents.
At the last closing share price the estimated dividend yield is 6.33%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 62.2, implying annual growth of 12.5%.
Current consensus DPS estimate is 48.9, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 11.9.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WC8 WILDCAT RESOURCES LIMITED

New Battery Elements – Overnight Price: $0.22

Shaw and Partners rates ((WC8)) as Buy (1) –

Shaw and Partners maintains its Buy rating for Wildcat Resources with its target price decreased to $1.00 from $1.60 following the release of a Definitive Feasibility Study for the 100%-owned Tabba Tabba Lithium Project in the Pilbara region of Western Australia.

The study models a post-tax net present value of $1.5bn and an internal rate of return of 28.4% assuming benchmark SC6 pricing of US$1,500/t FOB, underpinned by a maiden probable ore reserve of 48.3mt at 0.97% Li2O.

Processing capacity is established at 2.25mtpa in Stage 1 with total pre-production capital estimated at $774m, rapidly expanding to nameplate 4.5mtpa in Stage 2 to maximise economies of scale.

Financing remains a key challenge ahead given a modelled peak cash deficit of $827m versus current cash of $76.1m, prompting the company to explore strategic investment, offtake pre-payment, and debt options.

Shaw updates estimates to incorporate higher capital expenditure and early-term production alongside reduced lithium price forecasts reflecting recent market weakness.

This report was published on October 28, 2026.

Target price is $1.00 Current Price is $0.22 Difference: $0.78
If WC8 meets the Shaw and Partners target it will return approximately 355% (excluding dividends, fees and charges).
Current consensus price target is $0.74, suggesting upside of 236.4%(ex-dividends)
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 0.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 27.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.7, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY28:

Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of minus 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.4, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WLC WHITEROCK LITHIUM CORPORATION

New Battery Elements – Overnight Price: $2.92

Canaccord Genuity rates ((WLC)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Whiterock lithium with a $7.00 target price following initial assay results from its 2026 drill program at Spodumene Mountain.

Initial results from 17 of 65 completed holes delivered broad, high-grade intercepts including 84m at 1.84% Li2O from 8m depth, validating visual spodumene observations made during site visits.

Drilling across the north-east extension more than doubled the known strike length at Spodumene Mountain to approximately 1.4km.

The company continues working towards a maiden mineral resource estimate targeted for 1H27, supporting its exploration target of 190Mt to 275Mt at 1.2% to 1.6% Li2O.

The analyst views the combination of width, high grade, and shallow depth as highly encouraging for future resource growth across the project footprint.

This report was published on October 27, 2026.

Target price is $7.00 Current Price is $2.92 Difference: $4.08
If WLC meets the Canaccord Genuity target it will return approximately 140% (excluding dividends, fees and charges).

This company reports in CAD. 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

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The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don’t have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.

This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

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