Daily Market Reports | Aug 14 2024
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)
360 ABB AEE AGE AMP ARX (2) AUB BMN BPT (2) CAR CLW DTL DUG EMR EVT GNE HLI JAN JBH LNW (2) LOT LYC MGR NCK NST NWS QBE (2) REA (2) RKN SPK TCL (2)
360 LIFE360 INC
Software & Services - Overnight Price: $17.34
Goldman Sachs rates ((360)) as Buy (1) -
Goldman Sachs views the 132k net additions as the highlight from the 2Q2024 result from Life360. The broker also noted the growth in both monthly average users and the paying circles.
Goldman Sachs lifts EBITDA forecasts by 15% for 2024 and 8% for 2025, reaffirming the word-of-mouth model.
Buy rating retained. The target price is revised up by 23% to $19.75.
This report was published on August 9, 2024.
Target price is $19.75 Current Price is $17.34 Difference: $2.41
If 360 meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $20.09, suggesting upside of 15.9%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 0.00 cents and EPS of 15.26 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 113.65.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.4, 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 89.4.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 33.57 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 51.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.9, implying annual growth of 146.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 36.2.
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
ABB AUSSIE BROADBAND LIMITED
Telecommunication - Overnight Price: $3.08
Wilsons rates ((ABB)) as Market Weight (3) -
Wilsons revises down its FY26 forecasts for Aussie Broadband, leaving FY24 and FY25 unchanged.
The broker believes its subscriber number forecasts for that year were too high within the Wholesale Business and Consumer segment, particularly for Wholesale and Business.
Market Weight rating and $3.32 target price.
This report was published on August 13, 2024.
Target price is $3.32 Current Price is $3.08 Difference: $0.24
If ABB meets the Wilsons target it will return approximately 8% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 15.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.74.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 13.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.16.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AEE AURA ENERGY LIMITED
Energy - Overnight Price: $0.13
Petra Capital rates ((AEE)) as Buy (1) -
Petra Capital highlights ASX uranium equities are down year-to-date compared to the U308 contract price which has risen 18% on low volumes.
The broker believes uranium stocks have the potential to rally with any uranium spot price rises, which is believed to be most likely given term contracting volumes need to play catch up.
Petra Capital highlights the Tiris project for Aura Energy has received permits for development and mining with a final investment decision expected in the March quarter 2025.
The company updated the capex forecast to CA$2.2bn from CA$1.3bn. Buy rated with a 45c target price.
This report was published on August 8, 2024.
Target price is $0.45 Current Price is $0.13 Difference: $0.32
If AEE meets the Petra Capital target it will return approximately 246% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.60.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.60.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AGE ALLIGATOR ENERGY LIMITED
Uranium - Overnight Price: $0.04
Petra Capital rates ((AGE)) as Buy (1) -
Petra Capital highlights ASX uranium equities are down year-to-date compared to the U308 contract price which has risen 18% on low volumes.
The broker believes uranium stocks have the potential to rally with any uranium spot price rises which is believed to be most likely given term contracting volumes need to play catch up.
In terms of new projects, Petra Capital likes Alligator Energy and Aura Energy ((AGE)) with the former continuing to develop its Samphire project in SA.
Buy rated with an 11c target price.
This report was published on August 8, 2024.
Target price is $0.11 Current Price is $0.04 Difference: $0.07
If AGE meets the Petra Capital 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
AMP AMP LIMITED
Wealth Management & Investments - Overnight Price: $1.31
Jarden rates ((AMP)) as Neutral (3) -
Jarden highlights AMP's 1H24 results were above expectations.
The company announced the sale of its loss-making advice business. The broker stresses ongoing cost outs will be the diver for growth, with potential net outflows a risk to earnings.
Jarden revises EPS forecasts by 15.9% for FY24 and 12.1% for FY25.
Neutral rating unchanged. Target price lifts to $1.30 from $1.20.
This report was published on August 9, 2024.
Target price is $1.30 Current Price is $1.31 Difference: minus $0.01 (current price is over target).
If AMP meets the Jarden target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.29, suggesting downside of -1.4%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 5.50 cents and EPS of 9.10 cents.
At the last closing share price the estimated dividend yield is 4.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.4, implying annual growth of 1074.6%.
Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 17.7.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 7.50 cents and EPS of 11.40 cents.
At the last closing share price the estimated dividend yield is 5.73%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 31.1%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 13.5.
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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