Daily Market Reports | 10:30 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)
AMI ARB ARX AVH BKW BMN ERD FFM GDG HUB IFT IMR NSR PLT PPS QAN VGN
IMR IMRICOR MEDICAL SYSTEMS INC
Medical Equipment & Devices - Overnight Price: $1.46
Canaccord Genuity rates ((IMR)) as Buy (1) -
Imricor Medical Systems is well positioned for US expansion, according to a recent survey conducted by Canaccord Genuity.
Of 162 cardiologists and electrophysiologists surveyed, the broker notes 80% of respondents already had an MRI within their cardiology departments. This suggests 8-10 potential early adopters once the Imricor's NorthStar mapping system gains FDA approval.
Awareness of Imricor remains low at 14% versus an industry average of 73%, suggesting to the analysts commercial success will depend on aggressive sales and marketing alongside partnerships with GE, Siemens, and Philips.
Canaccord sees strong clinical support for MRI-guided cardiac ablation, particularly for redo atrial fibrillation and ventricular tachycardia cases.
The broker maintains a Buy rating and $2.06 target price.
This report was published on October 17, 2025.
Target price is $2.06 Current Price is $1.46 Difference: $0.6
If IMR meets the Canaccord Genuity target it will return approximately 41% (excluding dividends, fees and charges).
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
NSR NATIONAL STORAGE REIT
REITs - Overnight Price: $2.42
Jarden rates ((NSR)) as Buy (1) -
National Storage REIT's FY25 operating EPS marginally missed Jarden's forecast by -0.3%. The key takeway for the broker was earnings and valuation upside from the company's disclosure, though execution will remain a risk.
Specifically, the broker notes only 38% of the assets are in the mature bucket, indicating significant runway to lift occupancy and pricing acoss the rest.
Development pipeline of 489sqm of net lettable area across 54 projects suggests further upside potential. FY26 FFO forecast trimmed by -0.6% but FY27 lifted by 1.1%.
Buy. Target lifted to $2.90 from $2.80.
This report was published on August 21, 2025.
Target price is $2.90 Current Price is $2.42 Difference: $0.48
If NSR meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.58, suggesting upside of 6.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 11.80 cents and EPS of 11.50 cents.
At the last closing share price the estimated dividend yield is 4.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.04.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.5, implying annual growth of -26.7%.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 19.4.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 12.30 cents and EPS of 12.30 cents.
At the last closing share price the estimated dividend yield is 5.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 5.6%.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 18.3.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PLT PLENTI GROUP LIMITED
Business & Consumer Credit - Overnight Price: $1.50
Moelis rates ((PLT)) as Buy (1) -
Moelis highlights Plenti Group experienced a strong second quarter (March year-end), marking a clear profitability inflection. Originations grew 47% year-on-year and 9% quarter-on-quarter to $475m, lifting the loan portfolio to $2.83bn.
Cash profit rose to $12.8m for 1H26, up 133% year-on-year and 49% above the analysts' forecast, supported by broad-based growth across automotive, renewables, and personal loans.
Credit quality remained robust with a -0.94% annualised net loss rate and improved arrears, though the broker notes front-book margins faced modest pressure.
Moelis raises earnings forecasts by 18-25% through FY28 and expects accelerating EPS growth as scale benefits build. The target is increased to $1.85 from $1.53. Buy rating retained.
This report was published on October 21, 2025.
Target price is $1.85 Current Price is $1.50 Difference: $0.35
If PLT meets the Moelis target it will return approximately 23% (excluding dividends, fees and charges).
The company's fiscal year ends in March.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 13.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.28.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 14.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.34.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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