Weekly Reports | May 16 2025
This story features COMPUTERSHARE LIMITED, and other companies. For more info SHARE ANALYSIS: CPU
The company is included in ASX50, ASX100, ASX200, ASX300, ALL-ORDS and ALL-TECH
Broker Rating Changes (Post Thursday Last Week)
Outside of the Daily Australian Broker Call Report, FNArena recorded no broker upgrades last week, only two downgrades.
Downgrade
COMPUTERSHARE LIMITED ((CPU)) Downgrade to Sell from Neutral by Goldman Sachs.B/H/S: 0/0/0
Following a trading update, Goldman Sachs downgrades Computershare to Sell, citing an uncertain earnings outlook and valuation that screens as expensive relative to downside risks. The target falls to $37.50 from $38.94.
FY25 EPS guidance of 135cps was maintained, yet a downgrade to margin income (MI) and potential weakness in transaction-related revenue leave the broker cautious over earnings risks across FY26-27.
The analyst notes MI is potentially a significant headwind due to expected rate cuts, with earnings highly sensitive to yield trends despite partial hedging.
Economic uncertainty could also weigh on corporate action and employee share plan (ESP) revenues, highlights the broker, while the company’s cost-out programs are tapering, limiting near-term margin expansion.
GOLD ROAD RESOURCES LIMITED ((GOR)) Downgrade to Hold from Buy by Canaccord Genuity.B/H/S: 0/0/0
Canaccord Genuity notes Gold Road Resources has entered into a scheme implementation deed with Gold Fields, which will acquire 100% of the company for $3.40/share.
The deal consists of $2.52/share fixed, and variable linked to Gold Road’s stake in Northern Star Resources ((NXT)) valued at 88c as of May 2.
The broker views the deal as a good outcome as it is a 12% increase from Gold Fields’ initial offer and a 27% premium to the stock’s record high in early March.
Rating downgraded to Hold from Buy. Target cut to $3.40 from $3.45.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Downgrade | |||||
| 1 | COMPUTERSHARE LIMITED | Sell | Neutral | Goldman Sachs | |
| 2 | GOLD ROAD RESOURCES LIMITED | Neutral | Buy | Canaccord Genuity | |
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| 360 | Life360 | $30.89 | Goldman Sachs | 31.00 | 27.00 | 14.81% |
| ANZ | ANZ Bank | $29.34 | Jarden | 30.00 | 30.50 | -1.64% |
| ASK | Abacus Storage King | $1.52 | Moelis | 1.59 | 1.47 | 8.16% |
| AUE | Aurum Resources | $0.48 | Petra Capital | 0.95 | 1.02 | -6.86% |
| AVC | Pier 12 Capital | $0.50 | Canaccord Genuity | N/A | 1.20 | -100.00% |
| BGL | Bellevue Gold | $0.86 | Canaccord Genuity | 1.50 | N/A | N/A |
| CNB | Carnaby Resources | $0.27 | Moelis | 0.80 | 0.75 | 6.67% |
| CPU | Computershare | $41.51 | Goldman Sachs | 37.50 | 38.00 | -1.32% |
| CSL | CSL | $242.70 | Goldman Sachs | 304.60 | 307.20 | -0.85% |
| CYL | Catalyst Metals | $7.09 | Taylor Collison | 6.43 | 4.52 | 42.26% |
| DNL | Dyno Nobel | $2.76 | Goldman Sachs | 3.05 | 3.10 | -1.61% |
| FPR | FleetPartners Group | $3.01 | Canaccord Genuity | 3.75 | 3.40 | 10.29% |
| GDG | Generation Development | $4.97 | Moelis | 5.81 | 5.72 | 1.57% |
| GOR | Gold Road Resources | $3.27 | Canaccord Genuity | 3.40 | 3.45 | -1.45% |
| GQG | GQG Partners | $2.28 | Jarden | 3.20 | 3.10 | 3.23% |
| HGO | Hillgrove Resources | $0.04 | Moelis | 0.07 | 0.06 | 16.67% |
| HLO | Helloworld Travel | $1.58 | Jarden | 2.61 | 2.60 | 0.38% |
| HLS | Healius | $1.09 | Jarden | 0.93 | 1.35 | -31.11% |
| JBH | JB Hi-Fi | $103.78 | Goldman Sachs | 74.00 | 73.90 | 0.14% |
| Jarden | 95.50 | 95.80 | -0.31% | |||
| JHX | James Hardie Industries | $39.18 | Jarden | 44.00 | 45.00 | -2.22% |
| LNW | Light & Wonder | $131.56 | Jarden | 189.00 | 197.00 | -4.06% |
| MM8 | Medallion Metal | $0.25 | Petra Capital | 0.43 | 0.36 | 19.44% |
| MPL | Medibank Private | $4.76 | Jarden | 4.45 | 4.30 | 3.49% |
| NAB | National Australia Bank | $37.24 | Jarden | 29.00 | 30.00 | -3.33% |
| NEC | Nine Entertainment | $1.54 | Goldman Sachs | 1.75 | 1.80 | -2.78% |
| Jarden | 1.80 | 1.85 | -2.70% | |||
| NHF | nib Holdings | $6.88 | Goldman Sachs | 7.20 | 7.00 | 2.86% |
| Jarden | 7.20 | 7.00 | 2.86% | |||
| NXL | Nuix | $2.36 | Moelis | 2.50 | 3.07 | -18.57% |
| NXT | NextDC | $13.88 | Canaccord Genuity | 20.15 | 18.85 | 6.90% |
| Goldman Sachs | 16.50 | 14.70 | 12.24% | |||
| OML | oOh!media | $1.66 | Goldman Sachs | 1.55 | 1.50 | 3.33% |
| ORI | Orica | $18.67 | Jarden | 19.70 | 17.90 | 10.06% |
| PEX | Peel Mining | $0.07 | Canaccord Genuity | 0.17 | 0.40 | -57.50% |
| PNI | Pinnacle Investment Management | $20.13 | Jarden | 22.60 | 22.05 | 2.49% |
| PXA | Pexa Group | $11.83 | Goldman Sachs | 14.20 | 14.50 | -2.07% |
| Jarden | 15.25 | 15.50 | -1.61% | |||
| QBE | QBE Insurance | $22.74 | Goldman Sachs | 25.50 | 25.00 | 2.00% |
| Jarden | 24.60 | 24.10 | 2.07% | |||
| REA | REA Group | $250.81 | Goldman Sachs | 269.00 | 273.00 | -1.47% |
| REG | Regis Healthcare | $7.65 | Jarden | 7.75 | 7.56 | 2.51% |
| RHC | Ramsay Health Care | $35.96 | Goldman Sachs | 38.70 | 43.00 | -10.00% |
| RSG | Resolute Mining | $0.57 | Canaccord Genuity | 1.40 | 1.00 | 40.00% |
| RXL | Rox Resources | $0.29 | Canaccord Genuity | N/A | 0.61 | -100.00% |
| SDR | SiteMinder | $4.44 | Jarden | 4.45 | 6.75 | -34.07% |
| SDV | SciDev | $0.37 | Canaccord Genuity | 0.60 | 0.65 | -7.69% |
| SGM | Sims | $15.59 | Jarden | 14.70 | 14.80 | -0.68% |
| SUL | Super Retail | $14.16 | Jarden | 14.80 | 15.70 | -5.73% |
| SXL | Southern Cross Media | $0.75 | Canaccord Genuity | 1.08 | 0.96 | 12.50% |
| TCG | Turaco Gold | $0.42 | Canaccord Genuity | 1.00 | 0.80 | 25.00% |
| TCL | Transurban Group | $14.19 | Jarden | 13.60 | 12.40 | 9.68% |
| TPW | Temple & Webster | $19.57 | Canaccord Genuity | 19.00 | 17.50 | 8.57% |
| Petra Capital | 20.00 | 17.70 | 12.99% | |||
| WGX | Westgold Resources | $2.64 | Canaccord Genuity | 4.40 | 4.85 | -9.28% |
| WTC | WiseTech Global | $104.90 | Jarden | 94.00 | 100.00 | -6.00% |
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
AUE AURUM RESOURCES LIMITED
Gold & Silver Overnight Price: $0.48
Petra Capital rates ((AUE)) as Buy (1)
Aurum Resources announced a strategic $35.6m placement at 35.6c/share to the Lundin Family, Zhaojin Mining, and Montage Gold, each taking material stakes of 9.9%, 8.5%, 9.9% ,respectively, with the balance allocated to other investors.
Petra Capital says this strengthens the company’s capital position ahead of advancing the Boundiali (BD) and Napie gold projects in Cote d’Ivoire and highlights rising corporate interest in West African gold assets.
The funds will accelerate resource drilling, feasibility studies, and permitting work at BD, with production targeted from FY30.
Post-raise cash and shares are estimated by the broker at $45m, with quarterly burn at circa -$5m.
Petra Capital lowers the price target to $0.95 from $1.02 due to modeled dilution, and retains a Buy rating.
This report was published on May 8, 2025.
Target price is $0.95 Current Price is $0.48 Difference: $0.47
If AUE meets the Petra Capital target it will return approximately 98% (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 16.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.00.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 21.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2.27.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CYL CATALYST METALS LIMITED
Gold & Silver Overnight Price: $6.61
Taylor Collison rates ((CYL)) as Speculative Buy (1)
Taylor Collison views Catalyst Metals’ acquisition of the Old Highway gold project from Sandfire Resources ((SFR)) as a strategic fit for its hub-and-spoke model centred on the Plutonic Belt.
The project, located just 40km from the Plutonic mill, offers near-term, high-margin production of circa 35kozpa, highlights the broker, and will more than offset the around -24kozpa loss from the recently divested Henty asset.
The Henty sale also lifts group margins and grants a 12-year option on a permitted mill in Victoria, observes Taylor Collison, unlocking value at Four Eagles without new permitting risks.
Production at Plutonic underground remains consistent, and ramp-up at Plutonic East is underway, with first stoping ore delivered in 3Q of FY25, notes the analyst.
Guidance for the Plutonic Belt remains unchanged despite recent weather impacts. Target $6.43. Speculative Buy.
This report was published on May 12, 2025.
Target price is $6.43 Current Price is $6.61 Difference: minus $0.18 (current price is over target).
If CYL meets the Taylor Collison target it will return approximately minus 3% (excluding dividends, fees and charges negative figures indicate an expected loss).
The company’s fiscal year ends in June.
Forecast for FY25:
Taylor Collison forecasts a full year FY25 EPS of 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 1101.67.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 EPS of 0.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 826.25.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CCP CREDIT CORP GROUP LIMITED
Business & Consumer Credit Overnight Price: $13.48
Canaccord Genuity rates ((CCP)) as Buy (1)
Canaccord Genuity highlights Credit Corp’s 3Q25 update showed an increase in US debt buying opportunity, partially offset by subdued conditions in Australia/NZ.
The US business is on track to generate 20% of the group’s FY25 net profit, and the broker expects it to increase to 25% in FY26.
Gearing remained below 30% and productivity rose, with year-to-date average productivity per hour rising to $330, up 10% y/y.
The company reiterated FY25 net profit guidance of $90-100m, which aligns with the broker’s forecast of $94m.
Buy. Target unchanged at $20.60.
This report was published on May 8, 2025.
Target price is $20.60 Current Price is $13.48 Difference: $7.12
If CCP meets the Canaccord Genuity target it will return approximately 53% (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 69.00 cents and EPS of 138.00 cents.
At the last closing share price the estimated dividend yield is 5.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.77.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 77.00 cents and EPS of 152.00 cents.
At the last closing share price the estimated dividend yield is 5.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.87.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GDG GENERATION DEVELOPMENT GROUP LIMITED
Wealth Management & Investments Overnight Price: $4.79
Moelis rates ((GDG)) as Buy (1)
BlackRock took a minority stake in Generation Development by investing $25m and forming a strategic alliance
Under the deal, BlackRock will develop new retirement solutions for Australian retirees using the company’s expertise in retirement income and its own global investment and technology capabilities.
Moelis has incorporated the placement into forecasts but expects the minor dilution to be more than offset by benefits from the deal, which it hasn’t factored in yet. At this stage, the broker has highlighted upside potential as it conducts more analysis.
Buy. Target rises to $5.81 from $5.72.
This report was published on May 8, 2025.
Target price is $5.81 Current Price is $4.79 Difference: $1.02
If GDG meets the Moelis target it will return approximately 21% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 2.00 cents and EPS of 8.30 cents.
At the last closing share price the estimated dividend yield is 0.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 57.71.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 4.70 cents and EPS of 11.50 cents.
At the last closing share price the estimated dividend yield is 0.98%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.65.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NEC NINE ENTERTAINMENT CO. HOLDINGS LIMITED
Print, Radio & TV Overnight Price: $1.58
Goldman Sachs rates ((NEC)) as Buy (1)
Goldman Sachs notes Nine Entertainment was cautious about the outlook for 4Q25 TV ad revenue despite the benefit in April from election spend and 3Q coming in line with expectations.
The broker lowered 2H25 total TV revenue growth to 5%, after factoring in flat growth in May and June.
Metro Publishing earnings outlook was upgraded but Stan was unchanged, and the company also reaffirmed longer term cost management programs.
Overall, the broker cut FY25-27 EBITDA forecasts by -1-2%. Buy. Target cut to $1.75 from $1.80.
This report was published on May 7, 2025.
Target price is $1.75 Current Price is $1.58 Difference: $0.17
If NEC meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $1.82, suggesting upside of 15.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 7.00 cents and EPS of 9.40 cents.
At the last closing share price the estimated dividend yield is 4.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 41.2%.
Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 16.3.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 9.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 5.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.1, implying annual growth of 35.1%.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 6.0%.
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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CHARTS
For more info SHARE ANALYSIS: AUE - AURUM RESOURCES LIMITED
For more info SHARE ANALYSIS: CCP - CREDIT CORP GROUP LIMITED
For more info SHARE ANALYSIS: CPU - COMPUTERSHARE LIMITED
For more info SHARE ANALYSIS: CYL - CATALYST METALS LIMITED
For more info SHARE ANALYSIS: GDG - GENERATION DEVELOPMENT GROUP LIMITED
For more info SHARE ANALYSIS: GOR - GOLD ROAD RESOURCES LIMITED
For more info SHARE ANALYSIS: NEC - NINE ENTERTAINMENT CO. HOLDINGS LIMITED
For more info SHARE ANALYSIS: NXT - NEXTDC LIMITED
For more info SHARE ANALYSIS: SFR - SANDFIRE RESOURCES LIMITED