Daily Market Reports | 3:06 PM
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)
ALC ALK ANZ BMN BOE BSA CBA CCP CCR CIA (2) CIP (2) CMM CRD EHL EVS FMG FPR GOR (2) HGO IAG IGO (2) IMD IPD KAR (2) KGN LIC LOT LRK MAH MDR MIN (2) MND MPL NAN NHF NST (2) NWC NWH NXS (2) ORA (2) ORG PBH PEK PEN PLS QPM RED (2) RIO RMS RRL SDR (3) SFR (3) SUN SVR SVW SYR TLX (2) TNE VR8 WGX WTC
ALC ALCIDION GROUP LIMITED
Healthcare services - Overnight Price: $0.07
Canaccord Genuity rates ((ALC)) as Buy (1) -
Alcidion Group has been selected as a preferred Electronic Patient Record provider by the North Cumbria NHS.
Canaccord Genuity comments this follows a competitive tender and provides a total contract value in the range of $30-40m over 10 years, depending on negotiation outcomes.
Canaccord Genuity views this contract addition very positively, both in that it indicates activity for procurement within the existing pipeline and that the quantum reflects TCV uplift following the Silverlink acquisition.
The broker continues to see the stock as cheap, with room for further upside as similar NHS contracts may restore investor confidence in the sustainability of top-line growth in the UK.
Buy and 10c target retained.
This report was published on July 24, 2024.
Target price is $0.10 Current Price is $0.07 Difference: $0.035
If ALC meets the Canaccord Genuity target it will return approximately 54% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 16.25.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.50.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALK ALKANE RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.40
Moelis rates ((ALK)) as Buy (1) -
Alkane Resources reported 4Q24 production which came in line with revised guidance.
Moelis highlights gold production and all-in-sustaining-costs were slightly better than the analyst's expectations.
The broker revises EPS forecasts by 2.4% for FY24 and 3.7% for FY25. Buy rating and 65c target unchanged.
This report was published on July 25, 2024.
Target price is $0.65 Current Price is $0.40 Difference: $0.25
If ALK meets the Moelis target it will return approximately 63% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of 3.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.26.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.12.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ANZ ANZ GROUP HOLDINGS LIMITED
Banks - Overnight Price: $27.43
Goldman Sachs rates ((ANZ)) as Buy (1) -
Goldman Sachs adjusts its target price by 3.4% to $29.10 post the adjustment in EPS forecasts of 0.9% and 5.8% for FY24 and FY25, respectively, to account for the completed acquisition of Suncorp Bank.
Buy rating unchanged.
This report was published on July 31, 2024.
Target price is $29.10 Current Price is $27.43 Difference: $1.67
If ANZ meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $27.32, suggesting downside of -0.5%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 166.00 cents and EPS of 222.00 cents.
At the last closing share price the estimated dividend yield is 6.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 226.3, implying annual growth of -4.4%.
Current consensus DPS estimate is 165.0, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.1.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 166.00 cents and EPS of 213.00 cents.
At the last closing share price the estimated dividend yield is 6.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 227.0, implying annual growth of 0.3%.
Current consensus DPS estimate is 167.3, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 12.1.
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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