Weekly Reports | Jan 17 2025
This story features COMPUTERSHARE LIMITED. For more info SHARE ANALYSIS: CPU
Broker Rating Changes (Post Thursday Last Week)
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COMPUTERSHARE LIMITED ((CPU)) Downgrade to Neutral from Buy by Goldman Sachs.B/H/S: 0/0/0
Goldman Sachs notes Computershare has had a strong share price run as it benefitted from a supportive macro backdrop of higher yield expectations and strong USD.
The broker has marked to market valuations reflecting a stronger USD vs AUD and made small earnings changes.
As a result, the target price rises to $35.50. However, the rating is downgraded to Neutral from Buy based on share price gains.
Looking ahead to 1H25 results, the broker notes early FY25 trends have been strong and point to increased confidence in the company’s FY25 guidance. But beyond FY25, the analyst is cautiously optimistic about the company’s earnings growth prospects.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Downgrade | |||||
| 1 | COMPUTERSHARE LIMITED | Neutral | Buy | Goldman Sachs | |
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| 29M | 29Metals | $0.22 | Canaccord Genuity | 0.21 | 0.35 | -40.00% |
| AMP | AMP | $1.61 | Jarden | 1.45 | 1.35 | 7.41% |
| ASX | ASX | $64.61 | Jarden | 62.55 | 59.75 | 4.69% |
| CAR | CAR Group | $38.59 | Jarden | 35.50 | 32.75 | 8.40% |
| CGF | Challenger | $6.09 | Goldman Sachs | 7.60 | 7.82 | -2.81% |
| Jarden | 7.70 | 8.10 | -4.94% | |||
| CPU | Computershare | $33.83 | Goldman Sachs | 35.50 | 31.00 | 14.52% |
| DXB | Dimerix | $0.52 | Petra Capital | 1.37 | 1.33 | 3.01% |
| HGO | Hillgrove Resources | $0.05 | Canaccord Genuity | 0.10 | 0.10 | -5.00% |
| HMC | HMC Capital | $9.38 | Goldman Sachs | 9.86 | 8.94 | 10.29% |
| HUB | Hub24 | $65.70 | Jarden | 50.85 | 49.50 | 2.73% |
| IFL | Insignia Financial | $4.16 | Jarden | 4.20 | 3.35 | 25.37% |
| INA | Ingenia Communities | $5.31 | Moelis | 4.14 | 4.07 | 1.72% |
| MAC | MAC Copper | $17.01 | Canaccord Genuity | 21.25 | 22.00 | -3.41% |
| MFG | Magellan Financial | $11.06 | Goldman Sachs | 11.00 | 10.10 | 8.91% |
| MLX | Metals X | $0.44 | Canaccord Genuity | 0.43 | 0.48 | -10.42% |
| NIC | Nickel Industries | $0.85 | Canaccord Genuity | 0.85 | 1.00 | -15.00% |
| NWL | Netwealth Group | $27.09 | Jarden | 21.10 | 20.00 | 5.50% |
| PMV | Premier Investments | $27.98 | Goldman Sachs | 27.85 | 32.20 | -13.51% |
| PTM | Platinum Asset Management | $0.69 | Goldman Sachs | 0.75 | 0.95 | -21.05% |
| PWH | PWR Holdings | $7.84 | Goldman Sachs | 9.10 | 11.50 | -20.87% |
| QBE | QBE Insurance | $19.72 | Goldman Sachs | 22.50 | 20.00 | 12.50% |
| WAF | West African Resources | $1.61 | Canaccord Genuity | 3.70 | 3.60 | 2.78% |
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
CU6 CLARITY PHARMACEUTICALS LIMITED
Medical Equipment & Devices Overnight Price: $3.80
Canaccord Genuity rates ((CU6)) as Buy (1)
Canaccord Genuity has considered recent updates from Vir Biotechnology and Janux Therapeutics on bispecific T-cell engagers (TCE) and potential implications for Clarity Pharmaceuticals.
Bispecific TCEs have the potential to be used as a newer therapeutic modality in prostate cancer therapy.
The broker notes the prostate cancer therapy landscape is crowded but remains confident in the use case of radioligand therapies (RLTs), given the path being paved by Novartis and the expanding use case of PSMA-PET imaging agents.
The broker believes there remains a large opportunity for Clarity to develop a next-gen’ product and is looking forward to updates regarding its SECuRE trial in the next month.
The broker sees recent share price weakness as a buying opportunity. The rating is Buy and the target price is $8.06.
This report was published on January 10, 2025.
Target price is $8.06 Current Price is $3.80 Difference: $4.26
If CU6 meets the Canaccord Genuity target it will return approximately 112% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 20.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.36.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 29.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.88.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DGT DIGICO INFRASTRUCTURE REIT
Cloud services Overnight Price: $4.41
Goldman Sachs rates ((DGT)) as Initiation of coverage with Buy (1)
Goldman Sachs has initiated coverage on Digico Infrastructure REIT with a Buy rating and target price of $5.80.
The broker sees significant development potential for Digico’s Australian data centre facility SYD1 and Chicago’s CH1 to benefit from largely risk-free near-term earnings growth as it becomes operational.
The broker calculates DigiCo’s existing 35MW of capacity generating $97m of EBITDA can increase around 7x to 238MW of capacity, generating $496m of EBITDA.
This report was published on January 16, 2025.
Target price is $5.80 Current Price is $4.41 Difference: $1.39
If DGT meets the Goldman Sachs target it will return approximately 32% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 11.00 cents and EPS of minus 7.00 cents.
At the last closing share price the estimated dividend yield is 2.49%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 63.00.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 20.00 cents and EPS of minus 10.00 cents.
At the last closing share price the estimated dividend yield is 4.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 44.10.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NEM NEWMONT CORPORATION REGISTERED
Gold & Silver Overnight Price: $64.93
Goldman Sachs rates ((NEM)) as Initiation of coverage with Buy (1)
Goldman Sachs has initiated coverage on Newmont Corp with a Buy rating and target price of $76.20.
The broker believes Newmont has one of the strongest earnings growth outlooks among its Australian gold companies coverage on a medium-term view on the back of production improvements across new and existing projects, further supported by gold pricing strength.
The broker sees the company as an unlikely M&A target in the near term based on its asset history (beyond planned divestments) and scale of the overall group. No M&A component has been factored into the target price.
The analysts expect Newmont’s portfolio to transition to a largely Tier 1 asset base as major projects progress and divestments complete, supporting accelerated de-leveraging and capital management.
This report was published on January 13, 2025.
Target price is $76.20 Current Price is $64.93 Difference: $11.27
If NEM meets the Goldman Sachs target it will return approximately 17% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 152.05 cents and EPS of 491.11 cents.
At the last closing share price the estimated dividend yield is 2.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.22.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 153.57 cents and EPS of 664.44 cents.
At the last closing share price the estimated dividend yield is 2.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.77.
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
PWH PWR HOLDINGS LIMITED
Automobiles & Components Overnight Price: $7.65
Goldman Sachs rates ((PWH)) as Buy (1)
PWR Holdings announced a North American Aerospace and Defense (A&D) contract for US$5.5m, its largest single order since the A&D division started in 2020. Goldman Sachs sees this as the first of several long-term opportunities in the A&D division.
The broker considers the company’s outlook from 2H26 to remain positive as it transitions to an upgraded Australian facility and more A&D projects progress to contracted production.
Buy retained and target price is $9.10.
This report was published on January 14, 2025.
Target price is $9.10 Current Price is $7.65 Difference: $1.45
If PWH meets the Goldman Sachs target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $8.54, suggesting upside of 12.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 EPS of 17.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.2, implying annual growth of -34.4%.
Current consensus DPS estimate is 9.0, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 46.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 EPS of 23.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 33.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.5, implying annual growth of 63.6%.
Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 28.7.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WPR WAYPOINT REIT LIMITED
REITs Overnight Price: $2.39
Jarden rates ((WPR)) as Initiation of coverage with Overweight (2)
Jarden has initiated coverage on Waypoint REIT with an Overweight rating and target price of $2.70.
The broker’s rating is based on Waypoint’s strong portfolio of essential infrastructure, predictable income growth supported by inflation-linked rental growth, and predominantly triple net leases.
The broker reckons valuation looks attractive, offering a 7.0% dividend yield and trading around a -15% discount to net tangible assets. The broker sees Waypoint as strategically positioned to capitalise on growth through the potential redevelopment of existing properties.
Viva Energy’s ((VEA)) recent acquisition of OTR Group should present a significant upside opportunity for accretive developments, and investment into these sites could enhance rental growth and further strengthen the portfolio, the broker adds.
This report was published on January 12, 2025.
Target price is $2.70 Current Price is $2.39 Difference: $0.31
If WPR meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $2.71, suggesting upside of 12.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 16.50 cents and EPS of 16.50 cents.
At the last closing share price the estimated dividend yield is 6.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.3, implying annual growth of N/A.
Current consensus DPS estimate is 16.3, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 14.8.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 16.40 cents and EPS of 16.40 cents.
At the last closing share price the estimated dividend yield is 6.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.2, implying annual growth of -0.6%.
Current consensus DPS estimate is 16.2, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 14.9.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
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