Daily Market Reports | 11:56 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)
ALQ ANG ASG (2) BC8 BTR CGF CNB COI CRD CVN FLX FPH GEM GLL GTK HSN NEU PPE PXA QAL REH SS1 STN TNE USL VSL WDS
ALQ ALS LIMITED
Industrial Sector Contractors & Engineers - Overnight Price: $21.77
Jarden rates ((ALQ)) as Underweight (4) -
On November 18, Jarden expects ALS Ltd to report first-half FY26 core profit of $173m, about -1% below the consensus forecast, with investor focus on the FY26-27 outlook, especially for Commodities.
The broker sees Geochemistry volumes improving as gold, copper, and lithium prices rise, while Life Sciences should post solid EBIT growth aided by the Nuvisan turnaround and FX tailwinds.
The share price has already largely re-rated on multiple expansion and offers little room for disappointment, the analysts caution.
Jarden retains an Underweight rating pending clearer evidence of sustained volume and pricing recovery. Target rises to $14.85 from $14.60.
This report was published on November 5, 2025.
Target price is $14.85 Current Price is $21.77 Difference: minus $6.92 (current price is over target).
If ALQ meets the Jarden target it will return approximately minus 32% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $22.29, suggesting upside of 2.3%(ex-dividends)
The company's fiscal year ends in March.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 43.00 cents and EPS of 72.60 cents.
At the last closing share price the estimated dividend yield is 1.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 72.6, implying annual growth of 37.2%.
Current consensus DPS estimate is 43.6, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 30.0.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 49.60 cents and EPS of 82.70 cents.
At the last closing share price the estimated dividend yield is 2.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 83.3, implying annual growth of 14.7%.
Current consensus DPS estimate is 50.2, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 26.2.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ANG AUSTIN ENGINEERING LIMITED
Mining Sector Contracting - Overnight Price: $0.20
Petra Capital rates ((ANG)) as Buy (1) -
Petra Capital notes Austin Engineering’s FY26 guidance downgrade reflects short-term growing pains, cutting forecast revenue to $370-380m and EBIT to $30-34m from prior respective guidance of $390-410m and $40-46m.
Lower productivity in South America and Batam (stemming from the OEM contract in the region), alongside contract delays and North American expansion costs, account for most of the earnings shortfall, explains the analyst.
The broker expects impacts to be largely confined to FY26, with improvement once the uneconomic OEM contract is exited in 3Q26.
The analyst's EPS forecasts are reduced by -22-24% across FY26-2.8. The target falls to 29c from 46c. Petra Capital retains a Buy rating.
This report was published on November 6, 2025.
Target price is $0.29 Current Price is $0.20 Difference: $0.095
If ANG meets the Petra Capital target it will return approximately 49% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 1.00 cents and EPS of 3.60 cents.
At the last closing share price the estimated dividend yield is 5.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.42.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 1.50 cents and EPS of 4.90 cents.
At the last closing share price the estimated dividend yield is 7.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.98.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASG AUTOSPORTS GROUP LIMITED
Automobiles & Components - Overnight Price: $4.08
Canaccord Genuity rates ((ASG)) as Buy (1) -
Canaccord Genuity highlights continued strength in luxury vehicle sales, which rose 11% y/y in October and 12% over the past three months, outpacing the broader market. The broker attributes this to improved supply, a stronger new model line-up, and favourable pricing dynamics that support higher gross margins and operating leverage.
Autosports Group's key luxury brands performed strongly, with Audi sales up 28% y/y, BMW up 17%, and Mercedes up 20%. The analyst sees this momentum supporting like-for-like sales growth and earnings upside.
No change to Buy rating. Target lifts to $4.91 from $3.79.
This report was published on November 6, 2025.
Target price is $4.91 Current Price is $4.08 Difference: $0.83
If ASG meets the Canaccord Genuity target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 15.20 cents and EPS of 25.30 cents.
At the last closing share price the estimated dividend yield is 3.73%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.13.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 20.80 cents and EPS of 34.70 cents.
At the last closing share price the estimated dividend yield is 5.10%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.76.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Moelis rates ((ASG)) as Buy (1) -
Moelis notes the Australian auto market continues to strengthen into 2026, with October 2025 new vehicle deliveries up 0.7% y/y, marking five consecutive months of growth and averaging 3.2% for 2H2025.
Autosports Group's key luxury brands —BMW, Audi, and Mercedes-Benz— are outperforming amid normalised inventories and renewed consumer preference for PHEV, hybrid, and ICE models.
New SUV model launches across these brands are expected to support sales growth through 2026–2028.
Any additional interest rate cuts will further benefit dealer margins and consumer demand, with full-year tailwinds expected in 2026.
Moelis upgrades its EPS estimates, reflecting stronger confidence in the auto cycle, upcoming model releases, and improved back-end margins from parts, service, and finance.
The broker retains a Buy rating, lifting its target price to $4.85 from $3.63.
This report was published on November 7, 2025.
Target price is $4.85 Current Price is $4.08 Difference: $0.77
If ASG meets the Moelis target it will return approximately 19% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 11.60 cents and EPS of 26.90 cents.
At the last closing share price the estimated dividend yield is 2.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.17.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 14.50 cents and EPS of 33.70 cents.
At the last closing share price the estimated dividend yield is 3.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.11.
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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