Daily Market Reports | 11:00 AM
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)
ABB BRE CY5 EBR HGO IFT NWL PSC PYC QAL SKC SLX STO WDS
EBR EBR SYSTEMS INC
Medical Equipment & Devices - Overnight Price: $1.21
Canaccord Genuity rates ((EBR)) as Buy (1) -
Canaccord Genuity is impressed with the speed of the initial commercial rollout of EBR Systems' WiSE device, with the 10th implant announced recently.
The broader commercial rollout is expected after October, when reimbursement commences. The broker now expects FY25 to see more implants than its estimate of 13 units.
For FY26, the broker is forecasting around 416 units for revenue of US$18m.
Buy. Target unchanged at $2.48.
This report was published on September 17, 2025.
Target price is $2.48 Current Price is $1.21 Difference: $1.27
If EBR meets the Canaccord Genuity target it will return approximately 105% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 13.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.96.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 15.98 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.57.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HGO HILLGROVE RESOURCES LIMITED
Copper - Overnight Price: $0.04
Moelis rates ((HGO)) as Buy (1) -
Hillgrove Resources announced its underground drilling program results at the Emily Star deposit with Moelis pointing to positive results.
Grades above the existing 0.77% copper resource came in. Management aims to build a further platform at Nugent to target Emily Star, to underpin greater ore definition, which, if positive, the analyst asserts could result in a significant upgrade to the explorer's resource base.
Buy. Target price 6c
This report was published on September 18, 2025.
Target price is $0.06 Current Price is $0.04 Difference: $0.02
If HGO meets the Moelis target it will return approximately 50% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.00.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.33.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
IFT INFRATIL LIMITED
Wealth Management & Investments - Overnight Price: $10.86
Jarden rates ((IFT)) as Buy (1) -
At the Investor Day on September 18, Infratil announced a refinement of its portfolio into two distinct arms with around 3-4 scaled assets or 40% of the portfolio targeting 5% yield and 7-10 higher-growth assets targeting 15-20%.
Jarden highlights the framework is in line with previous updates, and near-term capital needs will be met from asset recycling. The company notes CDC data centres remains on track to double FY25 earnings by FY27 despite near-term delays.
Longroad will benefit from extended US tax credits through 2037, underpinning over 12 years of build economics with upside optionality.
One NZ guidance was for NZ$595-625m FY26 EBITDA, with margins expanding to 35% from 31% via data growth, pricing, and efficiency.
Gurin’s large Vanda project shows promise, Jarden notes, but limited detail and pending approvals dampen near-term investor confidence.
Buy. Target unchanged at NZ$14.79.
This report was published on September 18, 2025.
Current Price is $10.86. Target price not assessed.
Current consensus price target is N/A
The company's fiscal year ends in March.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 16.86 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 64.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.0, implying annual growth of N/A.
Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 135.8.
Forecast for FY27:
Jarden forecasts a full year FY27 EPS of 15.77 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 68.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.3, implying annual growth of 66.3%.
Current consensus DPS estimate is 19.9, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 81.7.
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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