Daily Market Reports | May 20 2025
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.
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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)
AZJ BMN GDF GTK IAG (2) IPH LAU ORA (2) PNV XRO (2)
AZJ AURIZON HOLDINGS LIMITED
Transportation & Logistics - Overnight Price: $2.99
Goldman Sachs rates ((AZJ)) as Buy (1) -
Goldman Sachs updates net profit after tax (NPAT) estimates for Aurizon Holdings to reflect changes from the company's May 2025 business update.
The broker lowers net profit forecasts by -5%, -2% and -4% for FY25-FY27, respectively.
Target price slips to $3.60 from $3.70. No change to Buy rating.
This report was published on May 16, 2025.
Target price is $3.60 Current Price is $2.99 Difference: $0.61
If AZJ meets the Goldman Sachs target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $3.33, suggesting upside of 11.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 20.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 6.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.3, implying annual growth of 5.6%.
Current consensus DPS estimate is 18.6, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 12.8.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 22.00 cents and EPS of 27.00 cents.
At the last closing share price the estimated dividend yield is 7.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.8, implying annual growth of 15.0%.
Current consensus DPS estimate is 21.7, implying a prospective dividend yield of 7.3%.
Current consensus EPS estimate suggests the PER is 11.1.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BMN BANNERMAN ENERGY LIMITED
Uranium - Overnight Price: $2.62
Petra Capital rates ((BMN)) as Buy (1) -
Petra Capital outlines the ongoing works at Etango by Bannerman Energy with cash at March quarter end at $68.8m and some -$26m committed for future works.
The analyst explains first production is currently delayed by a quarter even though the final investment decision has been deferred by a year since initiating coverage on the stock in May 2024.
Bannerman is believed to be waiting for higher pricing which should be evidenced as utilities return to the market, Petra details.
The final investment decision is expected in 2H 2025 with the stock up around 70% in recent weeks and short interest sitting at some 15-days average trading volume to cover.
The stock remains Buy rated with a $5.33 target price.
This report was published on May 16, 2025.
Target price is $5.33 Current Price is $2.62 Difference: $2.71
If BMN meets the Petra Capital target it will return approximately 103% (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 2.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 113.91.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 17.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.64.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GDF GARDA PROPERTY GROUP
REITs - Overnight Price: $1.15
Moelis rates ((GDF)) as Buy (1) -
Garda Property has upgraded guidance for the second time in FY25, Moelis notes, with funds from operations (FFO) guidance lifted by 12% in February following a 17% rise in August.
The broker attributes earnings growth to an expanding lending book supported by capital release from the North Lakes asset sale, expected to settle in August 2025.
Post-sale, net debt is forecast to reduce to -$157m or around 28%, providing flexibility for acquisitions, developments or further lending. Buy rating retained. Target price raised to $1.60 from $1.57.
This report was published on May 15, 2025.
Target price is $1.60 Current Price is $1.15 Difference: $0.455
If GDF meets the Moelis target it will return approximately 40% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 7.20 cents and EPS of 7.50 cents.
At the last closing share price the estimated dividend yield is 6.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.27.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 7.50 cents and EPS of 10.10 cents.
At the last closing share price the estimated dividend yield is 6.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.34.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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