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)
ANG CGS COL CYL EDV EMR G6M KCN ORG PDI PEN (2) QAN REH RMD SDR SKC SKY SLS
ANG AUSTIN ENGINEERING LIMITED
Mining Sector Contracting - Overnight Price: $0.17
Shaw and Partners rates ((ANG)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Austin Engineering with a $0.35 target price following the company's 2026 Annual General Meeting, where management reaffirmed its FY27 underlying EBIT guidance of $17m to $21m (excluding foreign exchange impacts).
The analyst highlights that the group's order book grew 18% to $139m as at 30 September 2026, supported by robust October order intake and increasing exposure to higher-margin mining buckets across the Asia-Pacific region, which remains the company's key growth engine with a 52% year-on-year increase in its order book.
While North America is expected to deliver a softer first half due to weaker market demand, management anticipates a recovery in the second half following recent cost-base adjustments and furloughs implemented in early October.
South America is showing encouraging signs of recovery with a return to positive EBITDA and a 33% increase in its order book.
Shaw notes the company's materially stronger balance sheet, which saw net debt reduced to $5.8m from $12.8m, and ongoing productivity improvements provide confidence in the earnings recovery and underpin the constructive outlook.
This report was published on November 2, 2026.
Target price is $0.35 Current Price is $0.17 Difference: $0.185
If ANG meets the Shaw and Partners target it will return approximately 112% (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 0.70 cents and EPS of 2.20 cents.
At the last closing share price the estimated dividend yield is 4.24%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.50.
Forecast for FY28:
Shaw and Partners forecasts a full year FY28 dividend of 0.80 cents and EPS of 2.70 cents.
At the last closing share price the estimated dividend yield is 4.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.11.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CGS COGSTATE LIMITED
Medical Equipment & Devices - Overnight Price: $3.39
Canaccord Genuity rates ((CGS)) as Buy (1) -
Canaccord Genuity reiterates its Buy rating for Cogstate with its target price unchanged at $4.15 following a discussion detailing growth opportunities in psychiatric and psychedelic clinical trials.
The analyst highlights that increasing trial activity, expanding market share, and larger development programs under major pharmaceutical owners like Eli Lilly and AbbVie support a strong sales-order outlook.
Shorter trial durations and separate open-label extension contracts are expected to drive meaningful revenue contributions from the second half of FY27 onwards.
Canaccord Genuity's valuation is predicated on 5.0x FY28E enterprise value to sales, reflecting increasing visibility to revenue and earnings.
This report was published on October 30, 2026.
Target price is $4.15 Current Price is $3.39 Difference: $0.76
If CGS meets the Canaccord Genuity target it will return approximately 22% (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 4.88 cents and EPS of 12.20 cents.
At the last closing share price the estimated dividend yield is 1.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.79.
Forecast for FY28:
Canaccord Genuity forecasts a full year FY28 dividend of 6.60 cents and EPS of 14.78 cents.
At the last closing share price the estimated dividend yield is 1.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.93.
This company reports in USD. 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
COL COLES GROUP LIMITED
Food, Beverages & Tobacco - Overnight Price: $21.28
Jarden rates ((COL)) as Downgrade to Underweight from Neutral (4) -
Jarden adjusts its rating for Coles Group to Underweight from Neutral with its target price lowered to $19.40 from $22.80, citing a difficult FY27 outlook marked by a softer Q2 update where October sales slowed to -3% year-on-year.
Jarden notes the company plans to increase price investment by an estimated $20m to $40m into the crucial holiday period, which, if annualised into the second half, could negatively impact Supermarket 2H EBIT by -2% or -4% if like-for-like sales fail to recover.
Commentary highlights the stock is now trading at a -13% discount to WOW.
Jarden reduces FY27 EBIT estimates by -6%, increases inventory day assumptions, and sees a -4% downside risk to second-half EBIT.
This report was published on November 2, 2026.
Target price is $19.40 Current Price is $21.28 Difference: minus $1.88 (current price is over target).
If COL meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $23.33, suggesting upside of 9.6%(ex-dividends)
Forecast for FY27:
Current consensus EPS estimate is 93.6, implying annual growth of 14.9%.
Current consensus DPS estimate is 78.6, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 22.7.
Forecast for FY28:
Current consensus EPS estimate is 100.9, implying annual growth of 7.8%.
Current consensus DPS estimate is 85.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 21.1.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three source
The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE
If you already had your free trial, why not join as a paying subscriber? CLICK HERE