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
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AAR AMC APE AS1 ASX AVH COG ELT GMG HUM LNW (2) MYR NAB REA SDV SLD TLX (2) WDS WTM
AAR ASTRAL RESOURCES NL
Gold & Silver - Overnight Price: $0.14
Shaw and Partners rates ((AAR)) as Buy (1) -
Shaw maintains its Buy rating for Astral Resources with a $0.30 target price following significant operational progress, including clearing native title obstacles over the Mandilla footprint and doubling the Spargoville resource to 281koz.
A recent Land Use Agreement covers all required ground, enabling the submission of necessary permits alongside completed heritage surveys and site layouts.
Ongoing infill drilling at the Theia deposit continues to yield grades above pre-feasibility study estimates, further de-risking the asset ahead of impending studies.
The analyst anticipates the delivery of the Mandilla definitive feasibility study in the first quarter of 2027 will serve as a major catalyst, immediately followed by a final investment decision.
Shaw highlights the stock currently trades at a -57% discount to peers on an enterprise value per resource ounce basis, representing compelling value ahead of potential near-term cash generation from the Think Big deposit.
This report was published on November 5, 2026.
Target price is $0.30 Current Price is $0.14 Difference: $0.165
If AAR meets the Shaw and Partners target it will return approximately 122% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 135.00.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 45.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AMC AMCOR PLC
Paper & Packaging - Overnight Price: $65.01
Jarden rates ((AMC)) as Overweight (2) -
Jarden reiterates its Overweight rating for Amcor with a $68.10 target price as the company enters a transition period. Management essentially issued a soft profit warning with the Q3 update.
The analyst observes updated core earnings per share guidance sits between US$1.70 and US$1.80, which compares with its own US$1.87 forecast.
Jarden views the revised estimates as reflecting incremental costs that are partially offset by sustained strong organic volume performance.
Jarden uses a three-stage discounted cash flow model to value the company, noting key investment risks include a weaker FY27 outlook, elevated financial leverage through FY27, and consumption headwinds affecting consumer packaged goods brands.
This report was published on November 6, 2026.
Target price is $68.10 Current Price is $65.01 Difference: $3.09
If AMC meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $69.18, suggesting upside of 6.4%(ex-dividends)
Forecast for FY27:
Current consensus EPS estimate is 655.2, implying annual growth of N/A.
Current consensus DPS estimate is 372.4, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 9.9.
Forecast for FY28:
Current consensus EPS estimate is 687.5, implying annual growth of 4.9%.
Current consensus DPS estimate is 430.2, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 9.5.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
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: $16.22
Jarden rates ((APE)) as Neutral (3) -
Jarden reiterates its Neutral rating for Eagers Automotive with a $17.35 target price while evaluating changes to minority interest forecasts.
Jarden reduces FY26 and FY27 profit before tax estimates by -15% and -19% respectively due to declining revenue and margins in the Australian division.
Its minority interest forecasts are lowered following the company's purchase of the remaining 20% stake in the BYD Retail joint venture, noting this acquisition adds 7% to FY27 earnings per share.
New Zealand operations remain included in current FY26 estimates.
This report was published on November 6, 2026.
Target price is $17.35 Current Price is $16.22 Difference: $1.13
If APE meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $23.25, suggesting upside of 43.3%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 99.8, implying annual growth of 14.6%.
Current consensus DPS estimate is 72.9, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 16.3.
Forecast for FY27:
Current consensus EPS estimate is 113.9, implying annual growth of 14.1%.
Current consensus DPS estimate is 81.7, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 14.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AS1 ASARA RESOURCES LIMITED
Mining - Overnight Price: $0.11
Canaccord Genuity rates ((AS1)) as Speculative Buy (1) -
Canaccord Genuity reiterates its Speculative Buy rating for Asara Resources with a $0.35 target price following maiden drilling results at the Sogosogoba prospect within the Kada Gold Project in Guinea.
The analyst notes the results validate a district-scale exploration thesis, with two holes testing the primary surface anomaly intersecting significant oxide mineralisation.
A standout intercept returned 38m at 2.1g/t gold from 48m, which Canaccord considers an encouraging initial step towards demonstrating a 3Moz district-scale opportunity.
Canaccord expects the company to continue its iterative drilling approach at Sogosogoba before moving to other priority targets, viewing satellite oxide mineralisation as a separate avenue for growth alongside Massan conversion drilling.
Canaccord values the company based on a scale-weighted enterprise value-to-resource multiple derived from African developer peers, maintaining an emphasis on project scale to support standalone development.
This report was published on November 7, 2026.
Target price is $0.35 Current Price is $0.11 Difference: $0.24
If AS1 meets the Canaccord Genuity target it will return approximately 218% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three source
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