Daily Market Reports | May 27 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.
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)
ALQ BEN BET BTR BXB DDR DJW EBR FMG IAG IPG JHX KYP LNW PRN RUL SEK SGH SPZ SVR WES (2) WJL
ALQ ALS LIMITED
Industrial Sector Contractors & Engineers - Overnight Price: $17.64
Jarden rates ((ALQ)) as Downgrade to Underweight from Neutral (4) -
Jarden downgrades ALS Ltd to Underweight from Neutral due to the run-up in the share price, which is currently reflecting earnings upgrades, according to the analyst.
Research was issued before the company was due to report FY25 results today, with guidance for net profit after tax of $310m$313m, with Jarden positioned at the midpoint.
On balance, Jarden views the risks as slanted to the downside, with volatility in sampling flows and Bloomberg capital raising data indicating the commodity markets were down in Canada by -28% and Australia down -40% following a robust 3Q25.
Target price lifts slightly to $15 from $14.50.
This report was published on May 22, 2025.
Target price is $15.00 Current Price is $17.64 Difference: minus $2.64 (current price is over target).
If ALQ meets the Jarden target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $18.75, suggesting upside of 6.3%(ex-dividends)
The company's fiscal year ends in March.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 37.60 cents and EPS of 63.80 cents.
At the last closing share price the estimated dividend yield is 2.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.65.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 64.0, implying annual growth of 2297.0%.
Current consensus DPS estimate is 38.5, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 27.6.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 42.80 cents and EPS of 72.40 cents.
At the last closing share price the estimated dividend yield is 2.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 75.1, implying annual growth of 17.3%.
Current consensus DPS estimate is 45.3, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 23.5.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BEN BENDIGO & ADELAIDE BANK LIMITED
Banks - Overnight Price: $11.78
Jarden rates ((BEN)) as Neutral (3) -
Bendigo & Adelaide Bank reported mixed 3Q25 results, according to Jarden, with profit above expectations by 2% due to benign credit quality.
Core earnings came in softer than anticipated because of lower other income, offset somewhat by good cost controls.
The bank reported flat net interest margins for the quarter compared to the previous quarter, which the broker viewed positively.
Neutral rating maintained. Target price lifts to $11.60 from $11.50. A "sound" capital position and attractive dividend yield around 5.4% provide some support to the share price, the analyst explains.
This report was published on May 23, 2025.
Target price is $11.60 Current Price is $11.78 Difference: minus $0.18 (current price is over target).
If BEN meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $10.44, suggesting downside of -11.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 63.00 cents and EPS of 84.40 cents.
At the last closing share price the estimated dividend yield is 5.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.96.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 81.7, implying annual growth of -15.2%.
Current consensus DPS estimate is 61.8, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 14.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 63.00 cents and EPS of 81.70 cents.
At the last closing share price the estimated dividend yield is 5.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 81.0, implying annual growth of -0.9%.
Current consensus DPS estimate is 62.3, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 14.6.
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BET BETMAKERS TECHNOLOGY GROUP LIMITED
Gaming - Overnight Price: $0.12
Canaccord Genuity rates ((BET)) as Speculative Buy (1) -
Canaccord Genuity observes how Betmakers Technology offered a trading update which revealed an improvement in operating "momentum", with a better trend in annualised earnings (EBIDTA) from the JanuaryApril period than in the month of April.
Management is expecting to be cashflow positive in FY26, which is better than the analyst's expectation.
The company is benefiting from the Apollo platform upgrade, with margins supported by lower cloud infrastructure costs on gross margins.
Speculative Buy rating maintained. Target unchanged at 20c.
This report was published on May 23, 2025.
Target price is $0.20 Current Price is $0.12 Difference: $0.08
If BET meets the Canaccord Genuity target it will return approximately 67% (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 2.29 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.24.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.68 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.65.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BTR BRIGHTSTAR RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.66
Taylor Collison rates ((BTR)) as Speculative Buy (1) -
Taylor Collison notes Brightstar Resources has now transitioned to an early-stage producer from a developer.
The broker reckons Sandstone could become a key asset with a pre-feasibility study due in 1H2026, after the Laverton-Memzies definitive feasibility study is published in 4Q2025.
The broker notes the company recently upgraded mineral resource estimate from multiple deposits, with measured and indicated resources now exceeding 1Moz.
Speculative Buy. Target price $1.38 (note the company's consolidated 25:1 in April).
This report was published on May 23, 2025.
Target price is $1.38 Current Price is $0.66 Difference: $0.725
If BTR meets the Taylor Collison target it will return approximately 111% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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