Daily Market Reports | 10:45 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)
ANZ APE (2) ARB BGP FFM G6M GBR GG8 JHX JIN MM1 MQG PEB QAN RXL
ANZ ANZ GROUP HOLDINGS LIMITED
Banks - Overnight Price: $39.05
Jarden rates ((ANZ)) as Overweight (2) -
Jarden maintains an Overweight rating for ANZ Bank with its target price maintained at $35.50 following a full-year result featuring cash net profit after tax of $7,591m, up 31% year-on-year.
The analyst highlights that second-half cash NPAT reached $3,811m, up 1% half-on-half and 72% year-on-year, supported by revenue growth and disciplined cost execution.
Gross cost savings of $902m were delivered in FY26, exceeding upgraded guidance, while the cost-to-income ratio improved significantly.
Jarden updates earnings models, tweaking FY27 and FY28 cash earnings down by -2% and -1% respectively due to lower net interest margins and lower other income.
Supported by a strong capital position with a Common Equity Tier 1 ratio of 12.0%, Jarden views the transformed balance sheet as well-positioned for a looming credit cycle.
This report was published on November 9, 2026.
Target price is $35.50 Current Price is $39.05 Difference: minus $3.55 (current price is over target).
If ANZ 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 $36.25, suggesting downside of -7.2%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 167.00 cents and EPS of 267.40 cents.
At the last closing share price the estimated dividend yield is 4.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 254.6, implying annual growth of N/A.
Current consensus DPS estimate is 169.0, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 15.3.
Forecast for FY28:
Jarden forecasts a full year FY28 dividend of 170.00 cents and EPS of 291.40 cents.
At the last closing share price the estimated dividend yield is 4.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 257.7, implying annual growth of 1.2%.
Current consensus DPS estimate is 169.4, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 15.2.
Market Sentiment: -0.3
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: $15.41
Canaccord Genuity rates ((APE)) as Buy (1) -
Canaccord Genuity maintains its Buy rating for Eagers Automotive with its target price decreased to $25.00 from $29.00 following a trading update and FY26 guidance reflecting industry-wide margin pressures.
The analyst highlights that while cyclical headwinds such as higher interest rates, fuel prices, and operating costs impact consumer sentiment, structural shifts towards emerging brands are driving discounting across legacy lines.
Canaccord has lowered earnings estimates across FY26, FY27, and FY28 to account for slower margin recovery and the removal of unannounced acquisitions from current forward models.
Despite near-term pain, the analyst believes the company remains well-positioned to emerge stronger through the transition given its leading scale and market share.
This report was published on November 8, 2026.
Target price is $25.00 Current Price is $15.41 Difference: $9.59
If APE meets the Canaccord Genuity target it will return approximately 62% (excluding dividends, fees and charges).
Current consensus price target is $22.48, suggesting upside of 45.8%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 97.5, implying annual growth of 11.9%.
Current consensus DPS estimate is 70.9, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 15.8.
Forecast for FY27:
Current consensus EPS estimate is 111.1, implying annual growth of 13.9%.
Current consensus DPS estimate is 79.5, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 13.9.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Moelis rates ((APE)) as Downgrade to Hold from Buy (3) -
Moelis lowers its rating for Eagers Automotive to Hold from Buy with its target price decreased to $17.83 following a trading update that revealed industry oversupply is crunching margins.
The analyst notes that recent guidance represents a -17% downgrade to estimates, driven by gross profit margin compression in the domestic business, higher interest costs, and acquisition dilution.
Moelis observes that legacy brands in Australia face severe margin pressure from excess inventory, weaker consumer sentiment, and increased competition from newer Chinese original equipment manufacturers.
Despite these headwinds, Moelis highlights that CanadaOne Auto continues to outperform and believes difficult market conditions will ultimately drive industry consolidation.
This report was published on November 9, 2026.
Target price is $17.83 Current Price is $15.41 Difference: $2.42
If APE meets the Moelis target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $22.48, suggesting upside of 45.8%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 74.60 cents and EPS of 89.50 cents.
At the last closing share price the estimated dividend yield is 4.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 97.5, implying annual growth of 11.9%.
Current consensus DPS estimate is 70.9, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 15.8.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 76.20 cents and EPS of 92.40 cents.
At the last closing share price the estimated dividend yield is 4.94%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 111.1, implying annual growth of 13.9%.
Current consensus DPS estimate is 79.5, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 13.9.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ARB ARB CORPORATION LIMITED
Automobiles & Components - Overnight Price: $18.21
Canaccord Genuity rates ((ARB)) as Buy (1) -
Canaccord Genuity maintains its Buy rating for ARB Corp with a target price of $25.40 following October VFACTS data showing the Top 11 index sales declined -2.5% on a pcp basis.
The analyst highlights that while the index remains negative, the second derivative continues to improve with sequential monthly gains supported by increased Toyota deliveries and easing comps.
Stronger volume performances from core vehicles like Hilux, Ranger, and Land Cruiser underscore the index improvements.
Canaccord anticipates further data recovery through the latter part of 2026, translating into a positive delta for 2H27 outcomes.
This report was published on November 8, 2026.
Target price is $25.40 Current Price is $18.21 Difference: $7.19
If ARB meets the Canaccord Genuity target it will return approximately 39% (excluding dividends, fees and charges).
Current consensus price target is $22.85, suggesting upside of 25.5%(ex-dividends)
Forecast for FY27:
Current consensus EPS estimate is 108.9, implying annual growth of -1.7%.
Current consensus DPS estimate is 66.2, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 16.7.
Forecast for FY28:
Current consensus EPS estimate is 121.6, implying annual growth of 11.7%.
Current consensus DPS estimate is 74.4, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 15.0.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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