Australian Broker Call *Extra* Edition – Nov 10, 2021

This story features A2 MILK COMPANY LIMITED, and other companies. For more info SHARE ANALYSIS: A2M

An additional news report on the recommendation, valuation, forecast and opinion changes 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)

A2M   ACL   AMC   AZJ   BET   CBR   CDA   COE   DGL   EOS   EXP   FCL   FFX   FZO   LGP   MPL   NCK   NHF   NTO   ORA   PDN   PFP   PGH   PGL   PLL   PWR (2)   SLA   TOY   UBI   VHT   YOJ  

A2M    A2 MILK COMPANY LIMITED

Dairy – Overnight Price: $6.29

Jarden rates ((A2M)) as Upgrade to Neutral from Underweight (3) –

Continuing brand health in the China infant milk formula market is a key takeaway from A2 Milk Company's update for Jarden, with the company targeting a 5-year back to growth plan. 

A2 Milk Company detailed a 3-stage plan to achieve sales of more than NZ$2bn by FY26, and while the company is guiding to operating margins in the teens the broker feels stronger recovery in English label sales could support further margin upside. 

Given brand health in the key China infant formula milk market, the rating is upgraded to Neutral from Underweight and the target price increases to NZ$6.60 from NZ$6.10.

This report was published on October 28, 2021. 

Current Price is $6.29. Target price not assessed.
Current consensus price target is $6.94, suggesting upside of 10.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of 14.57 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 43.16.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.5, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 40.6.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 17.77 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.0, implying annual growth of 41.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 28.6.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ACL    AUSTRALIAN CLINICAL LABS LIMITED

Healthcare services – Overnight Price: $4.41

Goldman Sachs rates ((ACL)) as Buy (1) –

A continued strong demand for covid testing has seen Australian Clinical Labs increase guidance for the third time, lifting first half revenue to $438-455m and profit after tax to $86-95m.

While Goldman Sachs notes this is a 10% and 35% increase on prior guidance, the broker also highlights it compares to FY21 full year revenue and profit after tax of $674m and $89m.

Goldman Sachs notes testing levels could remain high for some time still, particularly as international travel opens up. The broker increases its first half profit after tax to forecast by 34% to $100m, above company guidance. 

The Buy rating is retained and the target price increases to $5.90 from $5.70.

This report was published on October 27, 2021. 

Target price is $5.90 Current Price is $4.41 Difference: $1.49
If ACL meets the Goldman Sachs target it will return approximately 34% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year FY22 EPS of 65.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.78.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 EPS of 29.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.21.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

AMC    AMCOR PLC

Paper & Packaging – Overnight Price: $16.40

Jarden rates ((AMC)) as Initiation of coverage with Buy (1) –

Jarden initiates coverage on Amcor with a Buy rating and $17.90 target, as part of a sector-wide initiation of coverage.

The broker is Overweight on the packaging sector and believes the market has mispriced Amcor's growth prospects, particularly organic growth for Flexibles, and given forecast synergies from Bernis.

Jarden admires the strengthened balance sheet and strong cash generation, and spies room for more capital management, or a continuation of the share buyback. 

Amcor is Jarden's top-pick within the Australian packaging sector.

This report was published on October 26, 2021.

Target price is $17.90 Current Price is $16.40 Difference: $1.5
If AMC meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $18.27, suggesting upside of 11.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 64.10 cents and EPS of 107.67 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 108.7, implying annual growth of N/A.
Current consensus DPS estimate is 65.5, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 15.1.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 68.73 cents and EPS of 114.69 cents.
At the last closing share price the estimated dividend yield is 4.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 113.8, implying annual growth of 4.7%.
Current consensus DPS estimate is 68.3, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 14.4.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

AZJ    AURIZON HOLDINGS LIMITED

Transportation & Logistics – Overnight Price: $3.42

Jarden rates ((AZJ)) as Neutral (3) –

Jarden warns about additional execution risk following Aurizon Holdings plans to purchase integrated rail competitor OneRail, given the Coal (East Coast Rail) divestment process. The proposed acquisition would be fully debt funded.

The analyst points out a marked increase in gearing following the drawdown of $1.93bn of new debt. Also, while OneRail Bulk would aid the company's Bulk growth, questions remain over the speed at which this will reduce the overall group's exposure to coal earnings.

Jarden retains its Neutral rating and $4.30 target price.

This report was published on October 23, 2021.

Target price is $4.30 Current Price is $3.42 Difference: $0.88
If AZJ meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $3.97, suggesting upside of 16.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 27.30 cents and EPS of 27.30 cents.
At the last closing share price the estimated dividend yield is 7.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.1, implying annual growth of -28.1%.
Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 7.2%.
Current consensus EPS estimate suggests the PER is 12.2.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 27.30 cents and EPS of 27.30 cents.
At the last closing share price the estimated dividend yield is 7.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.1, implying annual growth of 3.6%.
Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 7.2%.
Current consensus EPS estimate suggests the PER is 11.8.

Market Sentiment: 0.0
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: $1.11

Canaccord Genuity rates ((BET)) as Buy (1) –

Following 1Q results for Betmakers Technology Group, Canaccord Genuity expects first revenues are imminent, with New Jersey fixed odds racing now signed into law. The analyst believes this should be a share price catalyst. 

The broker holds its earnings (EBITDA) estimates steady in recognition of a heavy investment phase. The company has more than $100m in cash, leaving substantial room for acquisitions, points out Canaccord Genuity.

The Buy rating is maintained and the target price rises to $1.50 from $1.45.

This report was published on October 28, 2021.

Target price is $1.50 Current Price is $1.11 Difference: $0.39
If BET meets the Canaccord Genuity target it will return approximately 35% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of 0.00 cents.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.00 cents.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CBR    CARBON REVOLUTION LIMITED

Automobiles & Components – Overnight Price: $1.16

Bell Potter rates ((CBR)) as Speculative Buy (1) –

Carbon Revolution's September-quarter trading update disappointed Bell Potter, wheel sales falling nearly 30% below the broker's forecasts.

Most of the decline relates to the Ford Mustang GT500 program, where 2021 model sales concluded earlier than forecast because of the semi-conductor chip shortage.

Excluding this, Bell Potter had expected a softer quarter regardless, and the company again points to significantly higher sales in the second half after the introduction of a new program. But the broker says the company is well stocked in preparation, and this creates  risk should further problems arise.

FY22 EPS forecasts are downgraded -5.4%. FY23 and FY24 EPS are fairly steady. Speculative Buy rating and $1.80 target price retained.

This report was published on October 25, 2021.

Target price is $1.80 Current Price is $1.16 Difference: $0.64
If CBR meets the Bell Potter target it will return approximately 55% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 15.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.34.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 13.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.72.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CDA    CODAN LIMITED

Hardware & Equipment – Overnight Price: $10.39

Canaccord Genuity rates ((CDA)) as Buy (1) –

Canaccord Genuity still anticipates an organic growth story after Codan's AGM, when management reiterated guidance. Having said that, the broker lowers its target price to $16.50 from $18.40 and feels patience will be required until the outlook is clearer.

The analyst maintains a Buy rating and believes the company is trading on low multiples, with an ungeared balance sheet that can support further growth. It's felt there's evidence that demand is growing and the company is gaining market share in North America and Europe.

This report was published on October 28, 2021.

Target price is $16.50 Current Price is $10.39 Difference: $6.11
If CDA meets the Canaccord Genuity target it will return approximately 59% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 33.00 cents and EPS of 66.00 cents.
At the last closing share price the estimated dividend yield is 3.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.74.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 36.00 cents and EPS of 73.00 cents.
At the last closing share price the estimated dividend yield is 3.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.23.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

COE    COOPER ENERGY LIMITED

Crude Oil – Overnight Price: $0.28

Jarden rates ((COE)) as Neutral (3) –

Cooper Energy has had a record quarter for production, which Jarden notes was driven by improved performance at the Otway Gas Processing Plant although a drop in realised gas pricing drove a small sales revenue miss. 

The broker notes despite positive results from Otway in the quarter, it is still too soon to tell if production will continue to rise, and all Otway gas should be processed via the Athena Gas Plant before the end of 2021. 

The Neutral rating is retained and the target price increases to $0.30 from $0.29. 

This report was published on October 28, 2021.

Target price is $0.30 Current Price is $0.28 Difference: $0.02
If COE meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $0.28, suggesting downside of -2.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 46.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 93.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.6, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 46.7.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

DGL    DGL GROUP LIMITED

Commercial Services & Supplies – Overnight Price: $2.80

Bell Potter rates ((DGL)) as Hold (3) –

Bell Potter notes DGL Group continues to embark on M&A (mergers and acquisitions) and divestments away from agriculture and climate, reducing ESG and concentration risks. The broker estimates the company's exposure to Elders ((ELD)) has shrunk to 15% from 19%.

DGL was very busy with M&A in the first half and the broker considers the AdBlue acquisition to be particularly material.

No further M&A is forecast but the broker spies plenty of room in the under-geared balance sheet to pounce on opportunities. The main risk is integration execution.

FY22-FY24 EPS forecasts are raised 5.1%, 3.4% and 2.8% to account for M&A. 

Target price rises to $3.05 from $2.55 to reflect DGL's talent for securing deals on cheaper-than-expected multiples. Hold rating retained.

This report was published on October 25, 2021.

Target price is $3.05 Current Price is $2.80 Difference: $0.25
If DGL meets the Bell Potter target it will return approximately 9% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of 7.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 38.89.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 9.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.87.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

EOS    ELECTRO OPTIC SYSTEMS HOLDINGS LIMITED

Hardware & Equipment – Overnight Price: $2.93

Canaccord Genuity rates ((EOS)) as Speculative Buy (1) –

Canaccord Genuity lowers its underlying earnings (EBIT) forecasts (excluding SpaceLink) for FY21 and FY21 by -69% and -12% and reduces its target to $6.30 from $6.50. This comes as Electro Optic Systems lowered revenue and earnings guidance in a 3Q update.

Management noted a number of pipeline opportunities were deferred into 2022, though expects major contract announcements within the next 12-18 months.

The analyst highlighted SpaceLink has completed a significant de-risking event by awarding a satellite manufacturer contract. SpaceLink is also nearing completion on Tranche 1 funding.

Canaccord Genuity retains its Speculative Buy rating.

This report was published on October 28, 2021.

Target price is $6.30 Current Price is $2.93 Difference: $3.37
If EOS meets the Canaccord Genuity target it will return approximately 115% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY21:

Canaccord Genuity forecasts a full year FY21 dividend of 0.00 cents and EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 146.50.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of 14.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.93.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

EXP    EXPERIENCE CO LIMITED

Travel, Leisure & Tourism – Overnight Price: $0.35

Canaccord Genuity rates ((EXP)) as Buy (1) –

Now that lockdowns are concluded, Canaccord Genuity envisages that Experience Co is well positioned for strong domestic tourism summer trading. This comes as management noted, in a 1Q update, that bookings momentum is improving.

The analyst sees potential for strong trading in the second half of FY22, and also the likely commencement of high fixed-cost leverage.

The Buy rating and $0.42 target price are retained.

This report was published on June 10, 2021.

Target price is $0.42 Current Price is $0.35 Difference: $0.07
If EXP meets the Canaccord Genuity target it will return approximately 20% (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

FCL    FINEOS CORPORATION HOLDINGS PLC

Cloud services – Overnight Price: $4.30

Moelis rates ((FCL)) as Buy (1) –

Fineos' September-quarter trading update satisfied Moelis, despite no new wins being reported. 

The broker retains faith in management's August 21 guidance for 30% subscription growth, and considers Fineos to be the industry leader and best positioned to build market share. 

Strong forecast compound annual growth of 28% across FY21 to FY23 is expected to be supported by cross and up-sell, cloud upgrades, ramp-ups and new wins.

Moelis notes the company is trading at a -30% discount to peers and retains a Buy rating. Target price eases to $5.15 from $5.27.

This report was published on October 25, 2021.

Target price is $5.15 Current Price is $4.30 Difference: $0.85
If FCL meets the Moelis target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $4.89, suggesting upside of 13.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 2.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 148.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.8, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 286.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.2, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 2150.0.

This company reports in EUR. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

FFX    FIREFINCH LIMITED

Gold & Silver – Overnight Price: $0.68

Petra Capital rates ((FFX)) as Buy (1) –

Firefinch's production update for the Morila Gold Project in Mali pleased Petra Capital.

The broker believes it reinforces its thesis that higher grade and higher recovery satellite feed ore will replace reprocessed tailings. Recent positive drilling results add a further glow. Firefinch is also expected to spin out its Lithium project in the March quarter.

Petra believes the Firefinch share price represents exception value and maintains a Buy rating.

Target price eases to $1.25 from $1.27 to reflect dilution from the recent share purchase plan.

Target price is $1.25 Current Price is $0.68 Difference: $0.57
If FFX meets the Petra Capital target it will return approximately 84% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY21:

Petra Capital forecasts a full year FY21 dividend of 0.00 cents and EPS of 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 61.82.

Forecast for FY22:

Petra Capital forecasts a full year FY22 dividend of 0.00 cents and EPS of 1.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.79.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

FZO    FAMILY ZONE CYBER SAFETY LIMITED

Software & Services – Overnight Price: $0.60

Euroz Hartleys rates ((FZO)) as Buy (1) –

Family Zone Cyber Safety's fourth quarter update has reported annual recurring revenue is totaling $46m, which Euroz Hartleys notes represents a $2.5m increase in the quarter. 

Strong student additions and trial numbers during the quarter could see a further 500,000 students added to the platform in the fourth quarter given historical trial conversion rates. The broker noted this would be a strong result for a normally softer quarter. 

The Buy rating is retained and the target price decreases to $1.00 from $1.02.

This report was published on October 28, 2021.

Target price is $1.00 Current Price is $0.60 Difference: $0.4
If FZO meets the Euroz Hartleys target it will return approximately 67% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

LGP    LITTLE GREEN PHARMA LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.68

Canaccord Genuity rates ((LGP)) as Speculative Buy (1) –

Following 1Q results for Little Green Pharma, Canaccord Genuity eases its earnings forecasts after estimating higher costs, and lowers its target to $1.04 from $1.13. However, it's thought targeted European supply agreements could be substantial and drive outperformance.

First quarter revenue showed the analyst a return to high levels of growth after some brief interruptions in the 4Q. It's noted the quarter included the recently acquired Denmark operations, which have a higher cost base though also potential for higher revenue.

This report was published on October 28, 2021.

Target price is $1.04 Current Price is $0.68 Difference: $0.36
If LGP meets the Canaccord Genuity target it will return approximately 53% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 8.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.50.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 5.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 13.33.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

MPL    MEDIBANK PRIVATE LIMITED

Insurance – Overnight Price: $3.42

Jarden rates ((MPL)) as Neutral (3) –

From an APRA report, Jarden notes that aside from BUPA, the top five private health insurers reported market share gain in FY21. Despite this not-for-profits continue to take market share, causing the widest margin differential in over a decade in Australian resident business. 

Medibank Private enjoyed the highest market share increase of 37 basis points although the broker expects these gains to moderate if BUPA stabilises. 

Unsurprisingly, overseas students and visitor profits fell $135m in FY21, although Medibank Private's -14% margin decline was more resilient than peers. 

The Neutral rating and target price of $3.40 are retained. 

This report was published on October 28, 2021. 

Target price is $3.40 Current Price is $3.42 Difference: minus $0.02 (current price is over target).
If MPL meets the Jarden target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.50, suggesting upside of 2.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 13.30 cents and EPS of 15.60 cents.
At the last closing share price the estimated dividend yield is 3.89%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.7, implying annual growth of -2.0%.
Current consensus DPS estimate is 12.8, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 21.8.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 13.90 cents and EPS of 16.40 cents.
At the last closing share price the estimated dividend yield is 4.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.1, implying annual growth of 2.5%.
Current consensus DPS estimate is 14.7, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 21.2.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

NCK    NICK SCALI LIMITED

Furniture & Renovation – Overnight Price: $15.36

Jarden rates ((NCK)) as Neutral (3) –

After Nick Scali's 1Q trading update, Jarden upgrades its earnings (EBITDA) forecast for FY22 by around 5%, driven by a strong order book into the 2H22. The gross margin run-rate was also materially better than expected. The target rises to $12.60 from $12.40.

With October trading described as "buoyant" by management, the reopening has occurred earlier than the analyst expected. The broker upgrades FY22 and FY23 profit estimates by 7.5% and 4.4%.

Jarden retains a Neutral rating over concerns FY23 and FY24 consensus forecasts will be attained. 

This report was issued October 25, 2021.

Target price is $12.60 Current Price is $15.36 Difference: minus $2.76 (current price is over target).
If NCK meets the Jarden target it will return approximately minus 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 71.20 cents and EPS of 89.00 cents.
At the last closing share price the estimated dividend yield is 4.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.26.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 62.50 cents and EPS of 78.10 cents.
At the last closing share price the estimated dividend yield is 4.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.67.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

NHF    NIB HOLDINGS LIMITED

Insurance – Overnight Price: $7.29

Jarden rates ((NHF)) as Neutral (3) –

From an APRA report, Jarden notes that aside from BUPA, the top five private health insurers reported market share gain in FY21. Despite this not-for-profits continue to take market share, causing the widest margin differential in over a decade in Australian resident business. 

nib Holdings enjoyed the second highest market share increase of 19 basis points, and the broker expects this to improve as partner sales from Qantas resume. 

Unsurprisingly, overseas students and visitor profits fell $135m in FY21, and nib Holdings reported a high -24% margin decline.

The Neutral rating and target price of $6.90 are retained. 

This report was published on October 28, 2021. 

Target price is $6.90 Current Price is $7.29 Difference: minus $0.39 (current price is over target).
If NHF meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.96, suggesting downside of -4.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 21.00 cents and EPS of 29.00 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 32.7, implying annual growth of -7.2%.
Current consensus DPS estimate is 20.6, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 22.3.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 22.00 cents and EPS of 31.50 cents.
At the last closing share price the estimated dividend yield is 3.02%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 33.3, implying annual growth of 1.8%.
Current consensus DPS estimate is 21.5, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 21.9.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

NTO    NITRO SOFTWARE LIMITED

IT & Support – Overnight Price: $3.84

Evans and Partners rates ((NTO)) as Positive (1) –

Following a solid third quarter Nitro Software appears on track for a strong close to the year, with Evans and Partners noting annual recurring revenue was up 50% on the same quarter last year with the strongest period of sequential growth typically still to come. 

With annual recurring revenue currently at US$35m company management continues to guide to full year US$39-42m. The broker also noted the sales team has ramped up and hiring continues as the company heads into the final quarter. 

The Positive rating is retained with a valuation of $6.40.

This report was published on October 27, 2021.

Current Price is $3.84. Target price not assessed.
The company's fiscal year ends in December.

Forecast for FY21:

Evans and Partners forecasts a full year FY21 EPS of minus 13.51 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 28.43.

Forecast for FY22:

Evans and Partners forecasts a full year FY22 EPS of minus 18.01 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 21.32.

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

ORA    ORORA LIMITED

Paper & Packaging – Overnight Price: $3.38

Jarden rates ((ORA)) as Initiation of coverage with Overweight (2) –

Jarden initiates coverage of Orora with an Overweight rating and $3.50 target price.

This comes as the broker initiates coverage on the Australian packaging sector with an Overweight rating.

Jarden says Orora is set to return to growth in the second half as strength in the North American Cans business offsets first-half weakness in the wine-bottling business. 

The broker says Orora's balance sheet is solid and will support the company through any near-term earnings volatility, and believes the share-price retreat is overdone.

This report was published on October 26, 2021.

Target price is $3.50 Current Price is $3.38 Difference: $0.12
If ORA meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.46, suggesting upside of 2.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 14.00 cents and EPS of 18.60 cents.
At the last closing share price the estimated dividend yield is 4.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.5, implying annual growth of 32.4%.
Current consensus DPS estimate is 14.5, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 18.3.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 14.90 cents and EPS of 19.90 cents.
At the last closing share price the estimated dividend yield is 4.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.98.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.9, implying annual growth of 7.6%.
Current consensus DPS estimate is 15.4, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 17.0.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PDN    PALADIN ENERGY LIMITED

Uranium – Overnight Price: $0.99

Shaw and Partners rates ((PDN)) as Buy (1) –

Paladin Energy's September-quarter update pleased Shaw & Partners, the broker considering it the stand-out in the uranium sector on a risk-reward basis offering a high-grade exploration portfolio.

The broker notes that the company's low restart capital intensity, combined with low operating costs, positions it well for the impending restart of the Langer Heinrich mine in Namibia.

The company is debt free and held net cash of $41m at quarter-end and the broker believes the recently revised capital structure means it is poised to take advantage of a sustained improvement in global uranium prices.

Buy rating and $1 target price retained.

This report was published on October 26, 2021.

Target price is $1.00 Current Price is $0.99 Difference: $0.01
If PDN meets the Shaw and Partners target it will return approximately 1% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 249.37.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 1.72 cents and EPS of 4.77 cents.
At the last closing share price the estimated dividend yield is 1.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.76.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PFP    PROPEL FUNERAL PARTNERS LIMITED

Consumer Products & Services – Overnight Price: $4.26

Bell Potter rates ((PFP)) as Buy (1) –

Bell Potter updates its model to account for Propel Funeral Partners' recent institutional placement and share purchase plan (SPP); and assumes a SPP price of $4.10.

FY22, FY23 and FY24 EPS forecasts fall -3.2%, -2.9% and -0.6% to reflect the dilution.

Target price is steady at $4.90, EPS declines being offset by a fall in net debt and time creep.

Buy rating retained, Bell Potter appreciating the company's organic and inorganic prospects, Propel Funeral's stronger balance sheet positioning it to drive more industry consolidation and materially expand its geographic footprint in a highly fragmented market.

This report was published on October 25, 2021.

Target price is $4.90 Current Price is $4.26 Difference: $0.64
If PFP meets the Bell Potter target it will return approximately 15% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 10.50 cents and EPS of 13.20 cents.
At the last closing share price the estimated dividend yield is 2.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.27.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 12.20 cents and EPS of 15.20 cents.
At the last closing share price the estimated dividend yield is 2.86%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.03.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PGH    PACT GROUP HOLDINGS LIMITED

Paper & Packaging – Overnight Price: $3.14

Jarden rates ((PGH)) as Initiation of coverage with Overweight (2) –

Jarden initiates coverage on Pact Group with an Overweight rating and $4.30 target price, as part of an initiation of coverage on the broader Australian packaging sector (the broker is Overweight expecting good times ahead).

The broker says Pact will need to prove that it can overcome cost inflation while expanding margins and divisions but notes strong growth opportunities at home and abroad. 

If successful, and Jarden expects the company will be, the broker expects Pact's top-line strategies will translate to improved earnings and margins.

While the company has strong cash, it is more highly leveraged than peers and Jarden expects the company will struggle in this respect.

This report was published on October 26, 2021.

Target price is $4.30 Current Price is $3.14 Difference: $1.16
If PGH meets the Jarden target it will return approximately 37% (excluding dividends, fees and charges).
Current consensus price target is $4.03, suggesting upside of 28.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 10.50 cents and EPS of 26.40 cents.
At the last closing share price the estimated dividend yield is 3.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.0, implying annual growth of 6.1%.
Current consensus DPS estimate is 11.4, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 11.6.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 12.20 cents and EPS of 29.10 cents.
At the last closing share price the estimated dividend yield is 3.89%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.0, implying annual growth of 3.7%.
Current consensus DPS estimate is 11.9, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 11.2.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PGL    PROSPA GROUP LIMITED

Diversified Financials – Overnight Price: $0.86

Shaw and Partners rates ((PGL)) as Buy (1) –

Prospa Group’s first quarter trading update was generally better than the expectations of Shaw and Partners. Revenue was up 35% on the previous corresponding period to $37.8m versus the analyst’s $35.1m estimate. 

The broker highlights repeat/returning customers accounted for 49% of the originations book, which improves customer acquisition costs.

The Buy rating is unchanged as Shaw and Partners believes the significant improvement from even the 2H of FY21 is not reflected in the share price. The target price of $1.50 is retained.

This report was published on October 27, 2021.

Target price is $1.50 Current Price is $0.86 Difference: $0.64
If PGL meets the Shaw and Partners target it will return approximately 74% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 3.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 25.29.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 47.78.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PLL    PIEDMONT LITHIUM INC

New Battery Elements – Overnight Price: $0.87

Canaccord Genuity rates ((PLL)) as Speculative Buy (1) –

Canaccord Genuity expects that an increased Resource at the Carolina Lithium project will lead to a maiden Reserve for the project. This is expected to feed into the definitive feasibility study, due by end 2021.

Among the various options for project funding available to Piedmont Lithium, a draft application has been submitted to the Department of Energy, under its Advanced Technologies Vehicles Loan program.

The Broker retains the Speculative Buy rating and $1.35 target price.

This report was published on October 28, 2021.

Target price is $1.35 Current Price is $0.87 Difference: $0.48
If PLL meets the Canaccord Genuity target it will return approximately 55% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY21:

Canaccord Genuity forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 0.01 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8700.00.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of 0.00 cents.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PWR    PETER WARREN AUTOMOTIVE HOLDINGS LIMITED

Automobiles & Components – Overnight Price: $3.37

Jarden rates ((PWR)) as Buy (1) –

Peter Warren Automotive Holdings September-quarter performance outpaced Jarden's forecasts thanks to a strong performance from Queensland.

Management guides to an increase in FY22 first-half profit of 14% to 21% above prospectus estimates, assuming no more lockdowns or supply-chain disruption.

The broker expects strengthening demand in the face of supply constraints will likely drive further EPS upgrades and raises its FY22 EPS forecasts 10%, which is above updated guidance.

Target price rises to $4.38 from $4.32. Buy rating retained.

This report was published on October 26, 2021. 

Target price is $4.38 Current Price is $3.37 Difference: $1.01
If PWR meets the Jarden target it will return approximately 30% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 11.90 cents and EPS of 25.20 cents.
At the last closing share price the estimated dividend yield is 3.53%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.37.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 25.10 cents and EPS of 26.10 cents.
At the last closing share price the estimated dividend yield is 7.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.91.

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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Moelis rates ((PWR)) as Buy (1) –

Peter Warren Automotive Holdings' September-quarter trading update pleased Moelis, management upgrading first-half guidance to 14% to 21% above prospectus forecasts (including AASB16 accounting changes).

The broker says guidance implies 18% to 25% growth on the previous corresponding period – not too shabby given NSW was in lockdown for the entire quarter.

The company witnessed some supply constraints but margins strengthened and, provided lockdowns end and no nasty supply-chain disruptions occur, management guides to a strong second half. Management has also announced M&A aspirations, and the broker notes the balance sheet is sufficient and the company is securing a $98m leveraged loan.

Buy rating retained. Target price is $4.75.

This report was published on October 26, 2021.

Target price is $4.75 Current Price is $3.37 Difference: $1.38
If PWR meets the Moelis target it will return approximately 41% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 17.60 cents and EPS of 29.30 cents.
At the last closing share price the estimated dividend yield is 5.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.50.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 17.20 cents and EPS of 25.30 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 13.32.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SLA    SILK LASER AUSTRALIA LIMITED

Healthcare services – Overnight Price: $4.56

Jarden rates ((SLA)) as Initiation of coverage with Buy (1) –

Jarden initiates on Silk Laser Australia, the second largest corporate owned clinic network in Australia following the recent acquisition of Australian Skin Clinics. Despite 45% of clinics not currently operational due to covid restrictions, clinic rollout is expected to drive growth. 

The broker expects a targeted 10 Australian and 4 New Zealand clinic openings each year for five years, alongside cross-sell and up-sell opportunities, will drive a 23% earnings per share compound annual growth rate over said five years. 

Strong demand is expected when clinics reopen, with Jarden estimating 9% like-for-like growth in the second half of FY22. Additionally, the broker notes the acquisition of Australian Skin Clinics is expected to boost earnings per share by more than 20%.

The broker initiates with a Buy rating and a target price of $6.32.

This report was published on October 28, 2021.

Target price is $6.32 Current Price is $4.56 Difference: $1.76
If SLA meets the Jarden target it will return approximately 39% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of 15.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.04.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 27.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.46.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

TOY    TOYS 'R' US ANZ LIMITED

Retailing – Overnight Price: $0.18

Canaccord Genuity rates ((TOY)) as Buy (1) –

Canaccord genuity sees a highly prospective growth avenue following Toys''R''Us ANZ's announcement it will run the digital and physical retail commerce for Toys”R”Us and Babies”R”Us in the  UK. 

Before even including the babies industry, the analyst estimates a 1% market share in the UK toy market equates to $60m in revenue and $15m in gross profit. Management expects to launch online sales to UK consumers over the “next several months”.

Canaccord Genuity retains its Buy rating and increases its target price to $0.25 from $0.20.

This report was published on October 28, 2021.

Target price is $0.25 Current Price is $0.18 Difference: $0.07
If TOY meets the Canaccord Genuity target it will return approximately 39% (excluding dividends, fees and charges).
The company's fiscal year ends in July.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 180.00.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.00 cents.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBI    UNIVERSAL BIOSENSORS, INC

Medical Equipment & Devices – Overnight Price: $0.77

Petra Capital rates ((UBI)) as Buy (1) –

Universal Biosensors' recent updates show Sentia (a medical-grade diagnostics device for winemakers) sales surpassed $1m, in line with guidance.

Recent distribution agreements boost the broker's confidence that its medium-term earnings forecasts will be easily met.

Petra expects the company will experience strong, sustained profit increases for several years, thanks to revenue growth combined with operating leverage.

Buy rating and $1.20 target price retained.

This report was published on October 26, 2021.

Target price is $1.20 Current Price is $0.77 Difference: $0.43
If UBI meets the Petra Capital target it will return approximately 56% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY21:

Petra Capital forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 5.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 14.81.

Forecast for FY22:

Petra Capital forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 3.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 20.81.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

VHT    VOLPARA HEALTH TECHNOLOGIES LIMITED

Medical Equipment & Devices – Overnight Price: $1.17

Bell Potter rates ((VHT)) as Buy (1) –

Volpara Health Technology's September-quarter trading update met Bell Potter's expectations, thanks to strong organic annual recurring revenues and cash receipts. Net cash burn for the quarter was -NZ$3.1m, leaving NZ$25m to hand.

The company signed the largest single deal in its history and its US customer-base revenue profile suggest plenty of room to expand, says the broker.

The broker downgrades FY22 and FY23 revenue forecasts -7% and -12% to reflect a likely revenue reduction on new contract wins, albeit in line with guidance. 

Buy rating and $1.60 target price retained. 

This report was published on October 26, 2021.

Target price is $1.60 Current Price is $1.17 Difference: $0.43
If VHT meets the Bell Potter target it will return approximately 37% (excluding dividends, fees and charges).
The company's fiscal year ends in March.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 4.89 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 23.93.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 3.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 37.72.

This company reports in NZD. 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

YOJ    YOJEE LIMITED

Software & Services – Overnight Price: $0.18

Euroz Hartleys rates ((YOJ)) as Speculative Buy (2) –

Euroz Hartleys notes the September quarter was a difficult one for Yojee given covid restrictions impacting on usual activities, and the company reported revenue was down -7%  and cash receipts were down -8% for the quarter. 

Despite the difficult metrics for the quarter, the broker notes the company did record enterprise client addition growth, and launched Yojee Labs. 

It is the broker's view that the larger market opportunity remains a larger part of Yojee's story than a difficult quarter, and looks to the company's continued growth and expansion into Europe.

The Speculative Buy rating and target price of $0.50 are retained.

This report was published on October 27, 2021.

Target price is $0.50 Current Price is $0.18 Difference: $0.32
If YOJ meets the Euroz Hartleys target it will return approximately 178% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

As part of emerging new trends overseas, The Australian Broker Call *Extra* Edition also includes providers of sponsored research. Readers should bear in mind, sponsored research, while not necessarily of lower quality, has the embedded complication that the company that is the subject of the research has paid for this research. Providers of sponsored research that can potentially be included in this Report are Breakaway Research, Edison Investment Research, Independent Investment Research, NDF Research, Pitt Street Research, and TMT Analytics.

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