Australian Broker Call *Extra* Edition – May 11, 2026

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            [1] => ((AHL))
            [2] => ((AMC))
            [3] => ((AMP))
            [4] => ((APE))
            [5] => ((AR1))
            [6] => ((ARB))
            [7] => ((ASG))
            [8] => ((AZJ))
            [9] => ((BOT))
            [10] => ((BWP))
            [11] => ((C79))
            [12] => ((CAY))
            [13] => ((CBE))
            [14] => ((CCP))
            [15] => ((HUM))
            [16] => ((CTM))
            [17] => ((DUR))
            [18] => ((FFM))
            [19] => ((BVR))
            [20] => ((FPR))
            [21] => ((GPT))
            [22] => ((GTK))
            [23] => ((GTK))
            [24] => ((HMC))
            [25] => ((HCW))
            [26] => ((HSN))
            [27] => ((IFT))
            [28] => ((IMD))
            [29] => ((IMD))
            [30] => ((JBH))
            [31] => ((KLS))
            [32] => ((LNW))
            [33] => ((LNW))
            [34] => ((MM1))
            [35] => ((MQG))
            [36] => ((MTM))
            [37] => ((NEU))
            [38] => ((NIC))
            [39] => ((NWS))
            [40] => ((NXG))
            [41] => ((OCL))
            [42] => ((ORI))
            [43] => ((PLY))
            [44] => ((PLY))
            [45] => ((PMT))
            [46] => ((REA))
            [47] => ((RRL))
            [48] => ((VAU))
            [49] => ((RXL))
            [50] => ((SKS))
            [51] => ((SUL))
            [52] => ((TAH))
            [53] => ((VNT))
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    [1] => Array
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            [1] => AHL
            [2] => AMC
            [3] => AMP
            [4] => APE
            [5] => AR1
            [6] => ARB
            [7] => ASG
            [8] => AZJ
            [9] => BOT
            [10] => BWP
            [11] => C79
            [12] => CAY
            [13] => CBE
            [14] => CCP
            [15] => HUM
            [16] => CTM
            [17] => DUR
            [18] => FFM
            [19] => BVR
            [20] => FPR
            [21] => GPT
            [22] => GTK
            [23] => GTK
            [24] => HMC
            [25] => HCW
            [26] => HSN
            [27] => IFT
            [28] => IMD
            [29] => IMD
            [30] => JBH
            [31] => KLS
            [32] => LNW
            [33] => LNW
            [34] => MM1
            [35] => MQG
            [36] => MTM
            [37] => NEU
            [38] => NIC
            [39] => NWS
            [40] => NXG
            [41] => OCL
            [42] => ORI
            [43] => PLY
            [44] => PLY
            [45] => PMT
            [46] => REA
            [47] => RRL
            [48] => VAU
            [49] => RXL
            [50] => SKS
            [51] => SUL
            [52] => TAH
            [53] => VNT
        )

)

This story features ALPHA HPA LIMITED, and other companies.
For more info SHARE ANALYSIS: A4N
The company is included in ASX300 and ALL-ORDS

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)

A4N   AHL   AMC   AMP   APE   AR1   ARB   ASG   AZJ   BOT   BWP   C79   CAY   CBE   CCP   CTM   DUR   FFM   FPR   GPT   GTK (2)   HMC   HSN   IFT   IMD (2)   JBH   KLS   LNW (2)   MM1   MQG   MTM   NEU   NIC   NWS   NXG   OCL   ORI   PLY (2)   PMT   REA   RRL   RXL   SKS   SUL   TAH   VNT  

A4N    ALPHA HPA LIMITED

Aluminium, Bauxite & Alumina – Overnight Price: $0.68

Canaccord Genuity rates ((A4N)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Alpha HPA with an unchanged $1.20 target price following a site visit demonstrating strong progress on Stage 2 construction at the Gladstone facility.

The broker notes the flexible plant design allows the production of high-value gamma phase alumina products tailored for the rapidly growing semiconductor and lithium-ion battery markets.

Recent quarterly sales achieved pricing comfortably above US$28 per kilogram, easily exceeding the assumed US$24 to US$25 per kilogram base case model.

With $212m in cash on hand, the business remains well-funded to cover near-term capital expenditure before drawing down debt facilities ahead of expected commissioning in late FY27.

Earnings estimates remain unchanged reflecting confidence in the execution strategy and an expanding sales pipeline.

This report was published on May 8, 2026.

Target price is $1.20 Current Price is $0.68 Difference: $0.52
If A4N meets the Canaccord Genuity target it will return approximately 76% (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

AHL    ADRAD HOLDINGS LIMITED

Automobiles & Components – Overnight Price: $1.23

Taylor Collison rates ((AHL)) as Buy (1) –

Taylor Collison maintains a Buy rating for Adrad with an unchanged $1.60 target price following evidence of strong business momentum and impending margin expansion driven by recent cost reduction measures.

The broker notes rising fuel prices present a minor near-term headwind for the distribution segment, offset by a surging data centre pipeline and the recent announcement of 300 new Bushmaster vehicles supplying a material tailwind from FY27.

Commentary states market leadership in Australian backup generator cooling solutions positions the business exceptionally well to capture increasing capital expenditure across mining, water, and defence channels while presenting a lucrative expansion opportunity into Asian markets.

Shares remain attractively priced relative to electrical peers, trading at a steep discount despite boasting long-term original equipment manufacturer relationships and dominant industrial market share.

Reflecting elevated copper and fuel costs against an improved forward volume outlook, FY26 earnings per share forecast is lowered by -4% to 10.1c and FY27 estimate is raised by 2% to 12.8c.

This report was published on May 1, 2026.

Target price is $1.60 Current Price is $1.23 Difference: $0.37
If AHL meets the Taylor Collison target it will return approximately 30% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 4.00 cents and EPS of 10.10 cents.
At the last closing share price the estimated dividend yield is 3.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.18.

Forecast for FY27:

Taylor Collison forecasts a full year FY27 dividend of 5.10 cents and EPS of 12.80 cents.
At the last closing share price the estimated dividend yield is 4.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.61.

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: $54.86

Jarden rates ((AMC)) as Overweight (2) –

Jarden maintains an Overweight rating for Amcor and increases the target price to $75.90 from $75.00 following a third-quarter result matching market expectations.

Core earnings per share of US96.0c aligned with forecasts as volume declines across the Flexibles and Rigids divisions moderated to a -1.5% contraction.

The broker notes management lowered full-year free cash flow guidance to between US$1.5bn and US$1.6bn due to inventory retention, keeping financial leverage elevated in the near term.

Strong execution on merger integration continues to offset volume pressures, driving an increase in the full-year synergy target to US$270m.

To reflect the slower inventory unwind and minor volume adjustments, earnings per share forecasts are lowered to US400.2c from US402.2c in FY26, and to US432.9c from US437.3c in FY27.

One day earlier, Jarden responded as follows:

Jarden maintains an Overweight rating and a $75.00 target price for Amcor following a 3Q26 result in which core EPS of US96.0c landed broadly in line with expectations.

The broker notes management downgraded FY26 guidance for core EPS to US$3.98-US$4.03 (from US$4.00-US$4.15) and free cash flow to US$1,500m-US$1,600m (from US$1,800m-US$1,900m).

Volume weakness persisted in the Flexibles division with a -1.5% decline, while financial leverage lifted to 3.8x, prompting the broker to question the revised year-end leverage target of 3.4x-3.5x.

To help offset these headwinds, management lifted Berry M&A synergy targets by US$10m to US$270m and lowered the effective tax rate guidance to 16%-17%.

Higher corporate costs acted as a drag during the period, although lower-than-forecast depreciation and amortisation provided some structural support to the bottom line, the report points out.

This report was published on May 7, 2026.

Target price is $75.90 Current Price is $54.86 Difference: $21.04
If AMC meets the Jarden target it will return approximately 38% (excluding dividends, fees and charges).
Current consensus price target is $69.71, suggesting upside of 27.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 394.36 cents and EPS of 599.82 cents.
At the last closing share price the estimated dividend yield is 7.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 551.6, implying annual growth of N/A.
Current consensus DPS estimate is 358.5, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 9.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 405.25 cents and EPS of 645.93 cents.
At the last closing share price the estimated dividend yield is 7.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 599.3, implying annual growth of 8.6%.
Current consensus DPS estimate is 359.4, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 9.2.

This company reports in USD. 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

AMP    AMP LIMITED

Wealth Management & Investments – Overnight Price: $1.52

Jarden rates ((AMP)) as Overweight (2) –

Jarden maintains an Overweight rating for AMP and raises the target price to $1.75 from $1.65 following a deep dive into the overlooked value of the business’s international partnerships.

The broker notes the market severely punished the stock for recent domestic misses, ignoring the structural advantages and rapid growth profile of the Chinese pension associates which now contribute over 30% of group net profit.

The dominant China Life and Pension Company franchise holds a 30% market share in the fast-growing Pillar 2 enterprise annuities space, warranting a material valuation premium.

Further near-term capital release potential exists through the planned exit of the non-core US real estate asset Pacific Coast Capital Partners alongside a contingent carry entitlement from DigitalBridge.

Reflecting higher partnership contributions and reduced credit loss expectations, the report lifts earnings per share forecasts to 11.5c from 11.4c in FY26, and to 12.0c from 11.5c in FY27.

This report was published on May 7, 2026.

Target price is $1.75 Current Price is $1.52 Difference: $0.23
If AMP meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $1.79, suggesting upside of 17.6%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 4.00 cents and EPS of 11.50 cents.
At the last closing share price the estimated dividend yield is 2.63%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.7, implying annual growth of 122.4%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 13.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 4.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 2.63%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.8, implying annual growth of 9.4%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 11.9.

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

APE    EAGERS AUTOMOTIVE LIMITED

Automobiles & Components – Overnight Price: $23.78

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

Canaccord Genuity maintains a Buy rating and a $32.00 target price for Eagers Automotive following an April auto sales update showing a 3% volume increase on the prior corresponding period.

The broker notes industry-wide Toyota sales remain weak due to persistent supply chain bottlenecks and order backlogs, temporarily distorting the broader market data given the brand’s heavy indexation within the group portfolio.

This weakness is being aggressively offset by surging electric vehicle demand, with sales jumping 108% year-to-date and the business capturing roughly a 35% market share in the segment.

The formal closure of the CanadaOne acquisition on April 30 provides a positive sentiment boost ahead of a broader trading update expected at the annual general meeting on May 27.

Despite rising interest rates and isolated brand discounting, the broker expects stable inventory levels to support industry-leading margin outcomes for the full year.

This report was published on May 7, 2026.

Target price is $32.00 Current Price is $23.78 Difference: $8.22
If APE meets the Canaccord Genuity target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $30.26, suggesting upside of 27.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 118.8, implying annual growth of 36.4%.
Current consensus DPS estimate is 84.6, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 20.0.

Forecast for FY27:

Current consensus EPS estimate is 134.1, implying annual growth of 12.9%.
Current consensus DPS estimate is 90.1, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 17.7.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AR1    AUSTRAL RESOURCES AUSTRALIA LIMITED

Copper – Overnight Price: $0.10

Shaw and Partners rates ((AR1)) as Buy (1) –

Shaw and Partners maintains a Buy rating and $0.42 price target for Austral Resources Australia following encouraging maiden drill results at the Snow Queen prospect.

The first hole intersected 10m at 7.52% copper from 35m, validating the regional targeting model and potentially adding a new dimension to the company’s existing production growth strategy.

Recent completion of the Lady Loretta acquisition finalises a three-pillar consolidation strategy in North-West Queensland, leaving the business well-capitalised with $83m net cash.

Ongoing leaching at the Anthill operation will support a steady production profile until material from Flying Horse/Mount Clarke is ready for processing later in 2026.

The report highlights a major turning point as the company transitions toward a Rocklands sulphide plant restart in mid-2027, which is expected to transform its earnings profile.

This report was published on May 7, 2026.

Target price is $0.42 Current Price is $0.10 Difference: $0.315
If AR1 meets the Shaw and Partners target it will return approximately 300% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 10.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 0.97.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.56.

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

ARB    ARB CORPORATION LIMITED

Automobiles & Components – Overnight Price: $18.66

Canaccord Genuity rates ((ARB)) as Hold (3) –

Canaccord Genuity maintains a Hold rating and $21.80 target price for ARB Corp following a weaker than expected April sales update for the top 11 vehicle models.

The broker notes the index declined -18.6% on the prior corresponding period, driven by broad weakness across multiple models and specific supply-related constraints impacting the Toyota HiLux.

This April data completes the rolling six-month window relevant for the second half, with the overall index falling -10.1%.

The report highlights a historical two-month lag between the vehicle sales index and Australian aftermarket revenues, prompting the broker to retain below-consensus revenue estimates of $185.3m for the division.

Supply constraints impacting key models are expected to resolve shortly, which should support a rebound in upcoming volume figures.

This report was published on May 7, 2026.

Target price is $21.80 Current Price is $18.66 Difference: $3.14
If ARB meets the Canaccord Genuity target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $26.42, suggesting upside of 41.6%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 105.2, implying annual growth of -10.7%.
Current consensus DPS estimate is 70.8, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 17.7.

Forecast for FY27:

Current consensus EPS estimate is 117.3, implying annual growth of 11.5%.
Current consensus DPS estimate is 71.3, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 15.9.

Market Sentiment: 0.8
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: $2.32

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

Canaccord Genuity maintains a Buy rating for Autosports Group and lowers the target price to $3.71 from $4.84 following a qualitative market update highlighting surging electric vehicle demand.

The business reports its new vehicle order bank has reached record levels as increasing battery electric vehicle deliveries effectively offset a moderation in traditional internal combustion engine sales.

The broker views the company as structurally well-positioned alongside key global luxury brands with compelling new model pipelines, providing a strong counterweight to broader macroeconomic pressures on consumer spending.

While underlying sales and operating earnings estimates remain broadly stable, the report lowers profit before tax forecasts by -4% to -10% to account for higher interest expenses.

The material target price reduction primarily reflects a compression in market multiples, with the assumed valuation multiple reducing to 7.0x from 8.5x.

This report was published on May 8, 2026.

Target price is $3.71 Current Price is $2.32 Difference: $1.39
If ASG meets the Canaccord Genuity target it will return approximately 60% (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

AZJ    AURIZON HOLDINGS LIMITED

Transportation & Logistics – Overnight Price: $4.06

Jarden rates ((AZJ)) as Downgrade to Neutral from Overweight (3) –

Jarden downgrades Aurizon Holdings to a Neutral rating from Overweight and raises the target price to $4.15 from $3.90 following a trading update highlighting softer coal volumes and fuel cost headwinds.

The broker notes management maintained FY26 underlying EBITDA guidance of $1,680m to $1,750m, expecting earnings to land closer to the midpoint of $1,715m.

A lag in recovering diesel costs within the Bulk and Containerised Freight segments creates a -$10m drag on fourth-quarter earnings, compounding weaker Above Rail coal volumes hampered by weather and customer impacts.

To reflect these pressures alongside revised coal volume growth assumptions of 1.2% for FY26, the report cuts earnings per share forecasts to 24.6c from 25.0c in FY26, and to 28.2c from 28.7c in FY27.

Despite the earnings reductions, the valuation increases due to a re-rating of offshore peer multiples and adjustments to the underlying discount rate model.

This report was published on May 6, 2026.

Target price is $4.15 Current Price is $4.06 Difference: $0.09
If AZJ meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $3.63, suggesting downside of -10.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 22.30 cents and EPS of 24.60 cents.
At the last closing share price the estimated dividend yield is 5.49%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.2, implying annual growth of 48.8%.
Current consensus DPS estimate is 22.6, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 16.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 26.70 cents and EPS of 28.20 cents.
At the last closing share price the estimated dividend yield is 6.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.3, implying annual growth of 12.3%.
Current consensus DPS estimate is 25.3, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 14.3.

Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BOT    BOTANIX PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.03

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

Canaccord Genuity maintains a Buy rating for Botanix Pharmaceuticals with a steady $0.14 target price following the release of its third-quarter FY26 results.

The company reported script numbers and revenue slightly ahead of updated forecasts, generating US$26.4m in gross revenue, albeit offset somewhat by unfavourable foreign exchange movements.

The broker notes the launch of its primary product has been softer than initially anticipated, but Botanix is demonstrating strong patient retention driven by ease of onboarding and high refill rates.

Looking ahead, Canaccord Genuity expects a moderate uptick in fourth-quarter scripts as the US enters its summer period, forecasting 32,592 scripts (a 22% sequential increase) and an improving gross-to-net yield.

Cash flows are also expected to benefit over the coming 12-18 months following the successful renegotiation of active pharmaceutical ingredient (API) supply agreements.

This report was published on May 3, 2026.

Target price is $0.14 Current Price is $0.03 Difference: $0.113
If BOT meets the Canaccord Genuity target it will return approximately 419% (excluding dividends, fees and charges).

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

BWP    BWP TRUST

REITs – Overnight Price: $3.86

Jarden rates ((BWP)) as Underweight (4) –

Jarden retains an Underweight rating for BWP Trust and lifts the target price to $3.47 from $3.45 following the announcement of a $228m entitlement offer.

Management plans to deploy the newly raised capital toward existing capital expenditure priorities, including site repurposing, Bunnings upgrades, and increasing exposure to large format retail assets.

The broker views the equity raise as an opportunistic move given existing commitments were already comfortably covered within the group’s conservative gearing range.

With debt costs sitting only slightly below the spot cost of equity, the raising proves marginally dilutive, prompting the broker to lower earnings per share forecasts to 19.3c from 19.4c in FY26 and to 19.5c from 19.6c in FY27.

While the fresh capital provides dry powder for future acquisitions and resets gearing at the bottom of the target range, the report notes investors may prefer assessing the impact of new assets at the time capital is raised.

This report was published on May 6, 2026.

Target price is $3.47 Current Price is $3.86 Difference: minus $0.39 (current price is over target).
If BWP meets the Jarden target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.97, suggesting upside of 2.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 19.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.2, implying annual growth of -48.2%.
Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 20.1.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 19.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.0, implying annual growth of 4.2%.
Current consensus DPS estimate is 19.8, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 19.3.

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

C79    CHRYSOS CORP. LIMITED

Mining Sector Contracting – Overnight Price: $6.83

Shaw and Partners rates ((C79)) as Buy (1) –

Shaw and Partners reiterates a Buy rating and increases the price target for Chrysos to $8.80 following a confident update at the TechRise Conference in Sydney.

Management reiterated FY26 guidance at the top end despite -10% foreign exchange headwinds, with contracting momentum accelerating to 19 units year-to-date.

Improving visibility suggests an 18-unit deployment cadence in FY27, supported by gross margins of 70-80% per unit and structural fire assay cost inflation.

The broker feels the strategic framing of AI as an operational decision layer enhances long-term value beyond simple fire assay replacement.

The price target shift to $8.80 from $8.70 reflects strong unit economics and continued sample volume growth exceeding 60% year-on-year.

This report was published on May 7, 2026.

Target price is $8.80 Current Price is $6.83 Difference: $1.97
If C79 meets the Shaw and Partners target it will return approximately 29% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 113.83.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 12.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 54.64.

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

CAY    CANYON RESOURCES LIMITED

Aluminium, Bauxite & Alumina – Overnight Price: $0.14

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

Canaccord Genuity maintains a Speculative Buy rating for Canyon Resources and lowers its target price to $0.25 from $0.40 following strategic equity investments in logistics infrastructure.

The broker notes the business increased its stake in national rail operator Camrail to 26.9% and acquired a 42.8% interest in the Douala port operator to secure train slots and optimise export capabilities.

These strategic moves significantly de-risk mine-to-port logistics for the Minim Martap Project, commentary suggests, keeping the company on track for its first bauxite shipments in the September quarter of 2026.

While a recent shareholder vote defeated a $170m funding proposal and introduced balance sheet timing risks, the report explains existing debt facilities provide a clear pathway to initial production.

Reflecting the infrastructure acquisition costs, altered funding assumptions, and an updated production profile, valuation metrics have been reduced.

This report was published on May 8, 2026.

Target price is $0.25 Current Price is $0.14 Difference: $0.115
If CAY meets the Canaccord Genuity target it will return approximately 85% (excluding dividends, fees and charges).

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

CBE    COBRE LIMITED

Copper – Overnight Price: $0.23

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

Canaccord Genuity maintains a Speculative Buy rating for Cobre with an unchanged $0.25 target price following a site visit to the Sierra Atacama copper asset in Chile.

The broker notes the recently acquired operation is in surprisingly good condition despite historic underinvestment, with management moving quickly to execute a US$28m improvement program designed to lift production from 4.8ktpa to 12ktpa.

Key upgrades include reconnecting to the power grid, installing active mine ventilation, and repairing plant equipment, offering multiple distinct efficiency gains rather than relying purely on incremental changes.

Reducing all-in sustaining costs from a modelled US$4.00/lb to US$3.50/lb could unlock a 60% valuation uplift, highlighting significant leverage to successful operational execution, commentary suggests.

An impending 40,000m drill program aims to delineate near-term mine plans and test for additional resource growth across the highly prospective 6km strike length.

This report was published on May 7, 2026.

Target price is $0.25 Current Price is $0.23 Difference: $0.025
If CBE meets the Canaccord Genuity target it will return approximately 11% (excluding dividends, fees and charges).

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

CCP    CREDIT CORP GROUP LIMITED

Business & Consumer Credit – Overnight Price: $11.81

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

Canaccord Genuity maintains a Buy rating for Credit Corp with an unchanged $19.70 target price following a trading update reaffirming strong operational momentum.

Management tightened several guidance metrics upward, reflecting improving US debt buying returns and a record-breaking Australian lending book expected to close near $500m.

Due diligence on the proposed Humm Group ((HUM)) acquisition is nearing completion, offering strategic value through consumer point-of-sale distribution to complement the existing direct lending business.

Third-quarter collections grew 27% in the US and 34% in Australia and New Zealand, demonstrating robust recovery profiles and emerging operating leverage.

The broker notes the current valuation appears undemanding relative to historical averages given the multi-year earnings growth trajectory and attractive dividend yield.

This report was published on May 8, 2026.

Target price is $19.70 Current Price is $11.81 Difference: $7.89
If CCP meets the Canaccord Genuity target it will return approximately 67% (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

CTM    CENTAURUS METALS LIMITED

Nickel – Overnight Price: $0.64

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

Canaccord Genuity maintains a Speculative Buy rating and increases the target price for Centaurus Metals Limited to $1.00 from $0.85 following the definition of large-scale copper targets at the Rio Novo project.

The broker notes early-stage soil geochemistry outlined multiple coherent anomalies exceeding 2km in strike, complementing ongoing drilling success at the adjacent Boi Novo footprint.

The valuation uplift reflects the removal of specific risk discounts applied to the Jaguar Nickel Sulphide Project given recent advances toward securing project financing.

Nickel has been one of the strongest performing base metals on the London Metal Exchange year-to-date, rising 17% amid Indonesia-driven supply constraints and steady demand.

The report anticipates a financing update in the third quarter of 2026 to coincide with a final investment decision for the Jaguar development.

This report was published on May 7, 2026.

Target price is $1.00 Current Price is $0.64 Difference: $0.36
If CTM meets the Canaccord Genuity target it will return approximately 56% (excluding dividends, fees and charges).

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

DUR    DURATEC LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $2.61

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

Shaw and Partners maintains a Buy rating and $3.10 price target for Duratec following the award of a $68m sub-contract for the Darwin Ship Lift Facility project.

Selected by the Clough BMD JV, the company will undertake construction and commissioning works on behalf of the Northern Territory Government, reinforcing its strong position within the Defence and Energy sectors.

The project, which focuses on enhancing maritime maintenance infrastructure in northern Australia, is expected to commence in June 2026 with completion anticipated by mid to late 2027.

This contract win supports the view the business is well-placed to capture further share in an addressable market exceeding $140bn.

The report highlights that recent global events necessitate sustained expenditure on critical energy and defence infrastructure, particularly for oil and gas maintenance and fuel storage.

This report was published on May 7, 2026.

Target price is $3.10 Current Price is $2.61 Difference: $0.49
If DUR meets the Shaw and Partners target it will return approximately 19% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 4.30 cents and EPS of 10.20 cents.
At the last closing share price the estimated dividend yield is 1.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.59.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 5.20 cents and EPS of 11.60 cents.
At the last closing share price the estimated dividend yield is 1.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.50.

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

FFM    FIREFLY METALS LIMITED

Gold & Silver – Overnight Price: $1.93

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

Canaccord Genuity maintains a Speculative Buy rating for FireFly Metals and increases the target price to $3.00 from $2.50 following a transformative period highlighted by a $139m equity raise and the divestment of non-core Ontario gold assets.

The broker notes the recent sale of the Pickle Crow and Sioux Lookout projects to Bellavista Resources ((BVR)) for shares and performance rights allows management to concentrate exclusively on advancing the flagship Green Bay copper-gold project.

An updated resource estimate is expected this quarter to underpin a preliminary economic assessment targeted for mid-2026, evaluating both a 1.8Mtpa base case and a potential staged expansion to 3.6Mtpa.

Recent drilling at the high-grade Core Zone continues to return ‘exceptional intersection widths’, suggesting strong conversion of inferred resources ahead of the upcoming economic studies.

Commentary concludes a robust $220m cash balance provides ample runway to reach a final investment decision amid a buoyant macroeconomic backdrop for critical minerals.

This report was published on May 8, 2026.

Target price is $3.00 Current Price is $1.93 Difference: $1.075
If FFM meets the Canaccord Genuity target it will return approximately 56% (excluding dividends, fees and charges).

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

FPR    FLEETPARTNERS GROUP LIMITED

Vehicle Leasing & Salary Packaging – Overnight Price: $2.79

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

Canaccord Genuity maintains a Buy rating for FleetPartners Group and raises the target price to $3.75 from $3.60 following a solid first-half result.

The broker notes the $39.6m net profit slightly beat expectations, supported by improving new business written momentum throughout the second quarter and into April.

Internal system integration benefits and the recent Remunerator acquisition are contributing to operational improvements, offsetting broader macroeconomic uncertainty.

Management’s shift from share buybacks toward an effective 10% fully franked dividend yield is expected to attract retail investors and drive a material valuation re-rating.

Reflecting higher assets under management or finance alongside lower end-of-lease vehicle sale assumptions, earnings per share forecasts have been lifted by 0.2% in FY26, 1.2% in FY27, and 2.1% in FY28.

This report was published on May 8, 2026.

Target price is $3.75 Current Price is $2.79 Difference: $0.96
If FPR meets the Canaccord Genuity target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $3.45, suggesting upside of 23.8%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 34.7, implying annual growth of 3.4%.
Current consensus DPS estimate is 24.8, implying a prospective dividend yield of 8.9%.
Current consensus EPS estimate suggests the PER is 8.0.

Forecast for FY27:

Current consensus EPS estimate is 33.7, implying annual growth of -2.9%.
Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 8.3%.
Current consensus EPS estimate suggests the PER is 8.3.

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

GPT    GPT GROUP

Infra & Property Developers – Overnight Price: $4.68

Jarden rates ((GPT)) as Overweight (2) –

Jarden maintains an Overweight rating and $5.68 target price for GPT Group following a first-quarter update highlighting stable operating metrics and reaffirmed 2026 guidance.

Occupancy remains elevated across the retail and logistics segments at 99.7% and 98.8% respectively, with Jarden arguing this demonstrates resilience against deteriorating consumer sentiment.

Office occupancy declined to 92.2%, making benchmarking success difficult without further disclosure on rents and leasing spreads.

The broker prefers the stock over sector peers due to a higher degree of strategic clarity and an attractive entry point following recent market underperformance.

Earnings per share estimates remain unchanged, with Jarden suggesting management credibility and an estimated 23% total return profile are underpinning ongoing confidence in the co-investment strategy.

This report was published on May 6, 2026.

Target price is $5.68 Current Price is $4.68 Difference: $1
If GPT meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $5.44, suggesting upside of 16.3%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 24.50 cents and EPS of 35.40 cents.
At the last closing share price the estimated dividend yield is 5.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.0, implying annual growth of -31.7%.
Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 13.4.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 36.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.3, implying annual growth of 3.7%.
Current consensus DPS estimate is 25.2, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 12.9.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

GTK    GENTRACK GROUP LIMITED

Software & Services – Overnight Price: $3.45

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

Canaccord Genuity maintains a Buy rating for Gentrack Group but lowers the target price to NZ$7.50 from NZ$14.50 following a severe downgrade to short-term revenue and earnings expectations.

The broker notes the unwinding of large existing implementation projects triggered a material reduction in non-recurring revenue, while anticipated new pipeline awards have been delayed.

Management chose to retain trained staff ahead of expected future growth, severely compressing FY26 earnings margins and driving -33% to -40% revisions across FY26-FY28 underlying cash EBITDA forecasts.

The business concurrently announced a NZ$20m share buyback and the US$10m cash acquisition of airport technology provider Dubai Technology Partners, offering cross-sell opportunities into the higher-margin Veovo division.

While the market reaction was harsh, the report highlights the sum-of-the-parts valuation remains compelling and contract execution will act as the primary catalyst required to rebuild investor confidence.

This report was published on May 7, 2026.

Current Price is $3.45. Target price not assessed.
Current consensus price target is $4.86, suggesting upside of 40.9%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 8.6, 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 40.1.

Forecast for FY27:

Current consensus EPS estimate is 16.9, implying annual growth of 96.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.4.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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

Shaw and Partners reiterates a Buy rating for Gentrack Group but reduces the price target to $8.00 following a -50% downgrade to FY26 EBITDA guidance.

The lowered outlook suggests deal pipeline conversion has pushed out and lower Net Revenue Retention (NRR) already impacted the first half, with the anticipated second-half step-up not translating as expected.

While the current share price implies the business is ex-growth, the report notes the stock now trades at 12x revised FY27 Cash EBITDA after a circa -40% de-rate.

To further support the valuation reset, the company announced a $20m share buyback alongside the acquisition of Dubai Technology Partners (DTP) to expand its airport technology footprint in the Middle East.

If the company delivers on its reiterated medium-term targets of more than 15% revenue growth and 15-20% margins, a structural re-rate remains possible, the report concludes.

This report was published on May 7, 2026.

Target price is $8.00 Current Price is $3.45 Difference: $4.55
If GTK meets the Shaw and Partners target it will return approximately 132% (excluding dividends, fees and charges).
Current consensus price target is $4.86, suggesting upside of 40.9%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.52 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 62.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.6, 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 40.1.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 9.55 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 36.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.9, implying annual growth of 96.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.4.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

HMC    HMC CAPITAL LIMITED

Wealth Management & Investments – Overnight Price: $2.99

Jarden rates ((HMC)) as Upgrade to Overweight from Neutral (2) –

Jarden upgrades HMC Capital to an Overweight rating from Neutral and maintains a $3.10 target price following a positive update detailing plans to streamline the platform.

The broker notes key strategic moves include returning capital to HMC Capital Partners investors, generating $15m in cost savings from FY27, and divesting $1bn in US digital assets to refocus on the Australian market.

Management reaffirmed operating earnings per share guidance above 40.0c, supported by organic growth in the private credit platform featuring $1bn in advanced documentation.

Reflecting the capital unwind largely offset by cost savings, the report lowers earnings per share forecasts to 30.1c from 31.2c in FY27, and to 33.1c from 33.8c in FY28, while FY26 estimates remain steady at 34.6c.

Strong valuation support and potential near-term catalysts, such as the resolution of issues at HealthCo Healthcare and Wellness REIT ((HCW)), underpin the ongoing positive view.

This report was published on May 6, 2026.

Target price is $3.10 Current Price is $2.99 Difference: $0.11
If HMC meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.39, suggesting upside of 13.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.10 cents and EPS of 34.60 cents.
At the last closing share price the estimated dividend yield is 4.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.64.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.0, implying annual growth of -21.1%.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 10.3.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 12.10 cents and EPS of 30.10 cents.
At the last closing share price the estimated dividend yield is 4.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.5, implying annual growth of -5.2%.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 10.9.

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

HSN    HANSEN TECHNOLOGIES LIMITED

IT & Support – Overnight Price: $4.82

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

Shaw and Partners maintains a Buy rating for Hansen Technologies with an unchanged $7.60 target price following a constructive update at the TechRise Conference.

The broker notes FY26 remains weighted toward a stronger second half, bolstered by an incremental $10m to $11m revenue contribution from the outperforming DigiTalk acquisition.

Management expressed building confidence in achieving medium-term margins exceeding 30%, driven by artificial intelligence productivity gains reducing development and support costs.

Large telecommunication pipeline opportunities remain compelling alongside a balance sheet expected to turn net cash positive later this calendar year to support further disciplined acquisitions.

While foreign exchange remains a top-line headwind prompting a -1% revenue downgrade, the report leaves underlying earnings per share forecasts steady at 25.6c in FY26 and 27.3c in FY27.

This report was published on May 8, 2026.

Target price is $7.60 Current Price is $4.82 Difference: $2.78
If HSN meets the Shaw and Partners target it will return approximately 58% (excluding dividends, fees and charges).
Current consensus price target is $6.66, suggesting upside of 38.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 10.00 cents and EPS of 25.60 cents.
At the last closing share price the estimated dividend yield is 2.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.2, implying annual growth of 32.6%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 17.1.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 10.00 cents and EPS of 27.30 cents.
At the last closing share price the estimated dividend yield is 2.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 33.2, implying annual growth of 17.7%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 14.5.

Market Sentiment: 1.0
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: $12.40

Jarden rates ((IFT)) as Buy (1) –

Jarden retains a Buy rating and unchanged NZ$14.56 target price for Infratil Limited following the announcement of a massive 555MW data centre contract secured by its (not fully owned) CDC Data Centres business.

The 30-year agreement with an investment-grade US customer represents the largest data contract in Australian history and pushes CDC’s total contracted capacity beyond 1GW.

Earnings contributions from the new capacity will commence as operations scale across FY28 and FY29, the report explains, supported by the company’s existing development program.

Management reaffirmed FY27 EBITDAF guidance of A$680m to A$720m while forecasting a step-change in earnings to exceed A$1bn in FY28.

The broker views the scale of this contract as a major validation of the underlying investment thesis, projecting annualised EBITDAF to approach A$2bn once fully deployed.

This report was published on May 6, 2026.

Current Price is $12.40. Target price not assessed.
Current consensus price target is $12.09, suggesting downside of -2.5%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 19.9, implying annual growth of N/A.
Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 62.3.

Forecast for FY27:

Current consensus EPS estimate is 17.9, implying annual growth of -10.1%.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 69.3.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IMD    IMDEX LIMITED

Mining Sector Contracting – Overnight Price: $4.04

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

Canaccord Genuity maintains a Buy rating for Imdex and increases the target price to $4.88 from $4.52 following a third-quarter trading update showing accelerated underlying revenue growth.

The business reported group revenue of $123m, representing a 23% increase on the prior corresponding period, driven by strong performance in the sensors, services, and software division, contributing 70% of total revenue.

The broker expects global exploration budgets to rise 15% to 20% in 2026, creating a highly supportive environment for ongoing operational growth across Australia and South America.

A growing proportion of higher-margin technology revenue and an expanding product suite are anticipated to drive operating leverage and accelerate earnings growth above the broader mining cycle.

Minor adjustments to the financial model, including higher anticipated interest costs, result in a 1% reduction to FY26 EBITDA estimates and a 1% increase for FY27.

This report was published on May 7, 2026.

Target price is $4.88 Current Price is $4.04 Difference: $0.84
If IMD meets the Canaccord Genuity target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $4.90, suggesting upside of 21.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 12.3, implying annual growth of 14.1%.
Current consensus DPS estimate is 3.6, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 32.8.

Forecast for FY27:

Current consensus EPS estimate is 14.6, implying annual growth of 18.7%.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 27.7.

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

Jarden rates ((IMD)) as Downgrade to Sell from Underweight (5) –

Jarden downgrades Imdex to a Sell rating from Underweight and maintains a $3.60 target price following a third-quarter trading update.

The company reported unaudited revenue of $123m for the period, representing 29% constant currency growth, yet the broker notes quarter-on-quarter revenue momentum appears to be flattening.

Commentary states consensus estimates imply a steep hurdle for the final quarter requiring 26% year-on-year revenue growth, leaving no room for execution missteps given the stock trades on an extreme forward price-earnings multiple of 31x.

Higher anticipated finance costs of -$12m to -$14m prompt the report to lower earnings per share forecasts to 10.2c from 10.3c in FY26, and to 11.4c from 11.5c in FY27.

While the underlying business is well managed within a robust industry environment, the broker finds extreme valuation multiples relative to historical averages offer little near-term support for the share price.

This report was published on May 6, 2026.

Target price is $3.60 Current Price is $4.04 Difference: minus $0.44 (current price is over target).
If IMD meets the Jarden target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.90, suggesting upside of 21.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 2.80 cents and EPS of 10.20 cents.
At the last closing share price the estimated dividend yield is 0.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.3, implying annual growth of 14.1%.
Current consensus DPS estimate is 3.6, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 32.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 3.30 cents and EPS of 11.40 cents.
At the last closing share price the estimated dividend yield is 0.82%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.6, implying annual growth of 18.7%.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 27.7.

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

JBH    JB HI-FI LIMITED

Consumer Electronics – Overnight Price: $73.29

Jarden rates ((JBH)) as Buy (1) –

Jarden maintains a Buy rating for JB Hi-Fi and lowers the target price to $87.10 from $87.90 following a slightly softer third-quarter update.

Supply shortages in the telecommunications category adversely impacted domestic sales, combining with rising macroeconomic headwinds to prompt an approximate -2% downgrade to medium-term earnings forecasts.

The broker expects these near-term pressures to be partially offset by structural tailwinds including market share gains in whitegoods, rising prices, and an impending AI-driven technology replacement cycle.

Margins remain supported by product mix and cost control, with the business exploring further growth through its emerging marketplace and media channels.

Reflecting the revised outlook and higher risk-free rates, the report lowers earnings per share estimates to 451.3c from 460.0c in FY26, and to 472.4c from 480.6c in FY27.

This report was published on May 6, 2026.

Target price is $87.10 Current Price is $73.29 Difference: $13.81
If JBH meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $86.66, suggesting upside of 18.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 431.00 cents and EPS of 451.30 cents.
At the last closing share price the estimated dividend yield is 5.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 452.2, implying annual growth of 6.9%.
Current consensus DPS estimate is 339.0, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 16.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 346.00 cents and EPS of 472.40 cents.
At the last closing share price the estimated dividend yield is 4.72%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 465.4, implying annual growth of 2.9%.
Current consensus DPS estimate is 349.8, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 15.7.

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

KLS    KELSIAN GROUP LIMITED

Transportation & Logistics – Overnight Price: $4.00

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

Canaccord Genuity maintains a Buy rating for Kelsian Group with an unchanged $6.00 target price following a third-quarter trading update confirming operations remain in line with expectations.

The broker notes management reiterated FY26 earnings guidance between $303m and $312m, supported by robust organic growth across the US bus division and operational efficiencies stemming from Australian service schedule changes.

Recent share price weakness linked to fuel cost concerns appears misread given priority supply arrangements and monthly revenue indexation mechanisms protecting margins.

The planned $161m divestment of the Tourism Portfolio remains on track for completion in the first half of FY27. The broker believes this is positioning the business to lower sustaining capital expenditure requirements and return leverage to the target range of 2.0x to 2.5x by June 2026.

Underlying earnings estimates remain stable, with a delay in the Kangaroo Island vessel transition pushing a -$4m mobilisation cost headwind into FY27.

This report was published on May 8, 2026.

Target price is $6.00 Current Price is $4.00 Difference: $2
If KLS meets the Canaccord Genuity target it will return approximately 50% (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

LNW    LIGHT & WONDER INC

Gaming – Overnight Price: $114.64

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

Canaccord Genuity maintains a Buy rating for Light & Wonder and lowers the target price to $184.00 from $195.00 following a mixed first-quarter result featuring elevated quarter-to-quarter financial noise.

The broker notes the US$327m adjusted earnings figure slightly missed expectations due to exceptional New York video lottery terminal conversions impacting North American operations and weak international machine sales in Australia.

Strong premium leased unit additions, robust free cash flow generation, and an accelerating share buyback program are expected to mitigate these near-term operational headwinds.

Management reaffirmed FY28 guidance alongside a firm commitment to lower leverage below 3x by the first half of FY27.

Reflecting these minor operational updates and a lowered valuation methodology, underlying net profit forecasts went up by 3% in FY26 and 1% in FY27.

This report was published on May 8, 2026.

Target price is $184.00 Current Price is $114.64 Difference: $69.36
If LNW meets the Canaccord Genuity target it will return approximately 61% (excluding dividends, fees and charges).
Current consensus price target is $187.29, suggesting upside of 63.4%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 943.1, 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 12.2.

Forecast for FY27:

Current consensus EPS estimate is 1150.4, implying annual growth of 22.0%.
Current consensus DPS estimate is 23.9, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 10.0.

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

Jarden rates ((LNW)) as Buy (1) –

Jarden maintains a Buy rating for Light & Wonder and lowers the target price to $182.00 from $190.00 following a slightly softer first-quarter result.

The broker notes adjusted earnings of US$327m aligned with expectations, while maiden FY26 guidance implies mid-to-high single-digit growth absorbing -US$60m in identified structural headwinds.

An increasing mix of higher-quality recurring revenue is offsetting softer outright machine sales across North America and international markets, commentary posits.

The valuation reduction is entirely driven by foreign exchange translation updates reflecting the current spot rate.

Buoyed by robust recurring installation momentum and expanding margins, earnings per share forecasts have gone up to US786.0c from US781.2c in FY26, and to US926.6c from US916.9c in FY27.

This report was published on May 7, 2026.

Target price is $182.00 Current Price is $114.64 Difference: $67.36
If LNW meets the Jarden target it will return approximately 59% (excluding dividends, fees and charges).
Current consensus price target is $187.29, suggesting upside of 63.4%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 1172.78 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 943.1, 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 12.2.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 1382.57 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1150.4, implying annual growth of 22.0%.
Current consensus DPS estimate is 23.9, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 10.0.

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

MM1    MIDAS MINERALS LIMITED

Copper – Overnight Price: $1.01

Canaccord Genuity rates ((MM1)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating and increases the target price for Midas Minerals to $1.50 from $1.35 following the release of “exceptional high-grade copper-silver results” from initial infill drilling at the T-13 deposit within the Otavi Copper Project in Namibia.

The commentary notes recent intercepts include a standout 50m at 7.9% copper equivalent from 194m, confirming strong continuity of high-grade mineralisation and supporting the presence of a scalable system.

The company recently updated its exploration target, anticipating the T13 extensions and nearby prospects could host a risked 340kt copper equivalent over time, adding to the maiden resource of 211kt already defined.

Revisions to the financial model incorporate a recent $28m capital raising alongside a refreshed enterprise value to resource multiple approach benchmarked against domestic copper peers.

A premium is applied to the valuation multiple to reflect the high-grade nature of the deposit, which remains open at depth and is seen presenting further discovery potential.

This report was published on May 4, 2026.

Target price is $1.50 Current Price is $1.01 Difference: $0.485
If MM1 meets the Canaccord Genuity target it will return approximately 48% (excluding dividends, fees and charges).

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

MQG    MACQUARIE GROUP LIMITED

Wealth Management & Investments – Overnight Price: $239.23

Jarden rates ((MQG)) as Buy (1) –

Jarden maintains a Buy rating for Macquarie Group with an unchanged $240.00 target price following a robust second-half result exceeding consensus expectations by 17%.

The broker highlights the business delivered a net profit of $3,192m for the half, driven by strong momentum across all divisions and a strategic transition towards materials and real-world assets over pure financialisation.

Jarden notes short-term guidance across the operating groups remains cautiously positive off a strong base, setting the stage for potential market upgrades.

Key upside risks to the valuation include the potential divestment of the renewable asset portfolio and a recovering geopolitical environment supporting global investments.

This report was published on May 8, 2026.

Target price is $240.00 Current Price is $239.23 Difference: $0.77
If MQG meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $240.70, suggesting upside of 0.6%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 1171.3, implying annual growth of 19.6%.
Current consensus DPS estimate is 743.5, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 20.4.

Forecast for FY27:

Current consensus EPS estimate is 1256.5, implying annual growth of 7.3%.
Current consensus DPS estimate is 817.3, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 19.0.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MTM    METALLIUM LIMITED

Industrial Metals – Overnight Price: $0.59

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

Canaccord Genuity maintains a Speculative Buy rating and $1.60 target price for Metallium following an update detailing binding contracts secured for 50% of stage 1 printed circuit board feedstock throughput.

The broker notes these agreements build on an existing supply deal with Glencore, reducing feedstock supply risk and supporting the progression of downstream offtake discussions for the refined metal chloride product.

The business remains focused on demonstrating its proprietary Flash Joule Heating technology ahead of a targeted fourth-quarter commissioning of 24 reactors.

Modelling assumes a 12-month ramp-up to process 8,000 tonnes of e-waste annually, forecasting positive earnings from FY27 with EBITDA reaching $138m by FY28.

A strong cash balance of $83m comfortably funds the remaining $50m development capital expenditure, underpinning the positive valuation, Canaccord Genuity concludes.

This report was published on May 7, 2026.

Target price is $1.60 Current Price is $0.59 Difference: $1.01
If MTM meets the Canaccord Genuity target it will return approximately 171% (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 0.00 cents and EPS of 0.00 cents.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 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

NEU    NEUREN PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $12.80

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

Canaccord Genuity maintains a Buy rating for Neuren Pharmaceuticals Limited but lowers the target price to $24.00 from $24.35 following an update on first-quarter Daybue sales by US partner Acadia.

The minor valuation downgrade reflects revised foreign exchange assumptions after Acadia reaffirmed 2026 product revenue guidance of between US$460m and US$490m, implying roughly $70m to $75m in full-year royalties.

The broker notes a potential re-examination of European regulatory approval expected around July could serve as a major near-term catalyst, potentially unlocking a US$35m milestone payment upon a first commercial sale.

While recent share price weakness reflects a lack of immediate clinical catalysts for the NNZ-2591 asset, the report views the current valuation as an attractive buying opportunity supported by an active share buyback program.

Revisions to underlying earnings forecasts remain minimal and strictly tied to the updated currency modelling.

This report was published on May 8, 2026.

Target price is $24.00 Current Price is $12.80 Difference: $11.2
If NEU meets the Canaccord Genuity target it will return approximately 87% (excluding dividends, fees and charges).
Current consensus price target is $23.87, suggesting upside of 86.5%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 9.6, implying annual growth of -59.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 133.3.

Forecast for FY27:

Current consensus EPS estimate is 33.4, implying annual growth of 247.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 38.3.

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

NIC    NICKEL INDUSTRIES LIMITED

Nickel – Overnight Price: $1.09

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

Canaccord Genuity maintains a Buy rating and $1.15 target price for Nickel Industries following a March quarter result featuring the strongest operational earnings since late 2023.

Group EBITDA of US$135.6m rose 264% quarter-on-quarter, driven by a step change in mine earnings and improved margins across operations via increased nickel pricing.

The business successfully increased its 2026 sales license by 60% to 14.3Mt, allowing ore sales volumes to rebound sharply.

Despite the strong operating performance, the cash balance fell to US$212m as the company prioritised purchasing and stockpiling saprolite ore in response to industry-wide supply quota disruptions.

To reflect the cash position and minor margin revisions, the broker lowers 2026 earnings per share forecasts to US5.0c from US6.0c, while retaining the 2027 estimate at US6.0c.

This report was published on May 4, 2026.

Target price is $1.15 Current Price is $1.09 Difference: $0.06
If NIC meets the Canaccord Genuity target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $1.33, suggesting upside of 21.6%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 7.46 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.61.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.95 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.6, implying annual growth of 173.4%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 9.2%.
Current consensus EPS estimate suggests the PER is 5.0.

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

NWS    NEWS CORPORATION

Print, Radio & TV – Overnight Price: $43.17

Jarden rates ((NWS)) as Downgrade to Overweight from Buy (2) –

Jarden downgrades News Corp to Overweight from Buy with an unchanged 46.30 target price following a solid third-quarter result beating market expectations on the back of strong Dow Jones performance.

Group revenue grew 8.8% to US$2,185m and underlying earnings jumped 18% to US$343m, driven by robust momentum across the Professional Information Services division and higher physical and digital book sales.

A softer News Media segment weighed slightly on the result due to costs associated with the California Post launch.

Management continues executing an accelerated share buyback program while progressing discussions with artificial intelligence companies to monetise proprietary data.

The report leaves valuation metrics steady, highlighting potential upside from further tech partnerships and a broader recovery in digital real estate volumes.

This report was published on May 8, 2026.

Target price is $46.30 Current Price is $43.17 Difference: $3.13
If NWS meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $50.20, suggesting upside of 16.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 143.1, implying annual growth of N/A.
Current consensus DPS estimate is 27.6, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 30.2.

Forecast for FY27:

Current consensus EPS estimate is 179.2, implying annual growth of 25.2%.
Current consensus DPS estimate is 27.6, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 24.1.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NXG    NEXGEN ENERGY LIMITED

Uranium – Overnight Price: $17.06

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

Shaw and Partners maintains a Buy rating and $22.90 price target for NexGen Energy following its 1Q26 financial report and quarterly update.

NexGen Energy released 1Q26 financial results showing a loss of -CA$156m, primarily driven by a -CA$129m mark-to-market loss on convertible debentures resulting from share price appreciation.

Significant progress was made during the quarter with the receipt of the Licence to Construct from the CNSC and highly encouraging exploration results at Patterson Corridor East, the report details.

Construction of the Rook I project will commence in mid-2026, with first production expected early next decade from a resource whose exceptional quality places it among the most profitable potential mines globally, Shaw and Partners highlights.

The report views the uranium market in the early stages of a “super-cycle,” positioning NexGen Energy as a preferred exposure to rising prices.

This report was published on May 7, 2026.

Target price is $22.90 Current Price is $17.06 Difference: $5.84
If NXG meets the Shaw and Partners target it will return approximately 34% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

OCL    OBJECTIVE CORPORATION LIMITED

IT & Support – Overnight Price: $11.01

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

Shaw and Partners maintains a Buy rating for Objective Corp and an unchanged $22.10 target price following a confident management presentation at the TechRise Conference.

The broker notes the business is in its strongest position in years, with Information Intelligence demand exceeding expectations and the Build Australia platform on track to secure live customers by June 30.

Management retained FY26 annual recurring revenue growth guidance of 10% to 14%, framing artificial intelligence as a productivity tailwind rather than a disruption risk.

Expanding scale across maturing products like RegWorks and Build Australia is expected to drive operating leverage and make a meaningful margin contribution from FY27.

The report leaves earnings per share forecasts unchanged, reflecting ongoing confidence in the 15% long-term growth target.

This report was published on May 8, 2026.

Target price is $22.10 Current Price is $11.01 Difference: $11.09
If OCL meets the Shaw and Partners target it will return approximately 101% (excluding dividends, fees and charges).
Current consensus price target is $16.67, suggesting upside of 51.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 22.00 cents and EPS of 36.10 cents.
At the last closing share price the estimated dividend yield is 2.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 38.2, implying annual growth of 2.8%.
Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 28.8.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 26.00 cents and EPS of 42.60 cents.
At the last closing share price the estimated dividend yield is 2.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 41.8, implying annual growth of 9.4%.
Current consensus DPS estimate is 26.0, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 26.3.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ORI    ORICA LIMITED

Mining Sector Contracting – Overnight Price: $21.73

Jarden rates ((ORI)) as Overweight (2) –

Jarden maintains an Overweight rating for Orica and raises the target price to $26.00 from $24.20 following an in-line first-half result supported by lower global support costs.

The broker notes underlying earnings of $512m slightly beat consensus, driven by strong performance in the Digital Solutions and Specialty Chemicals divisions alongside margin benefits from the transformative Cyanco acquisition.

Reduced disclosure across the Blasting Solutions business introduces some forecasting risk, but management expects a $100m group-wide efficiency program to significantly boost earnings margins through the second half.

Reflecting altered global peer multiples and minor adjustments to near-term blasting volumes, the report lowers earnings per share forecasts to 122.9c from 125.1c in FY26, and increases expectations to 132.3c from 129.1c in FY27.

This report was published on May 8, 2026.

Target price is $26.00 Current Price is $21.73 Difference: $4.27
If ORI meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $26.27, suggesting upside of 20.9%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 63.50 cents and EPS of 122.90 cents.
At the last closing share price the estimated dividend yield is 2.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 122.1, implying annual growth of 264.0%.
Current consensus DPS estimate is 62.3, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 17.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 80.30 cents and EPS of 132.30 cents.
At the last closing share price the estimated dividend yield is 3.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 133.7, implying annual growth of 9.5%.
Current consensus DPS estimate is 69.7, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 16.3.

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

PLY    PLAYSIDE STUDIOS LIMITED

Gaming – Overnight Price: $0.27

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

Canaccord Genuity maintains a Buy rating for Playside Studios with an unchanged $0.60 target price following a revenue guidance upgrade driven by the successful launch of the Mouse video game.

The broker notes the title has already generated roughly $18m in net revenue just three weeks post-launch, prompting management to lift FY26 revenue expectations to between $50m and $53m.

Strong ongoing wishlist activity and physical retail launches planned for later in the year are expected to provide a meaningful revenue tail into FY27.

The successful pivot toward higher-margin original intellectual property materially de-risks the future game pipeline and provides a tangible showcase to pursue new external project contracts.

The report makes minor downward revisions to earnings forecasts to reflect elevated sales and marketing spend.

This report was published on May 8, 2026.

Target price is $0.60 Current Price is $0.27 Difference: $0.33
If PLY meets the Canaccord Genuity target it will return approximately 122% (excluding dividends, fees and charges).

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

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

Shaw and Partners maintains a Buy rating for Playside Studios and an unchanged $0.44 target price following a revenue guidance upgrade driven by the outperformance of the Mouse game title.

The broker notes the recently launched game has sold roughly 730,000 units and generated US$13m in net revenue, prompting management to lift FY26 revenue expectations to between $50m and $53m.

Wishlists for the title have surged past 3m, shifting the strategic focus toward long-tail monetisation through merchandise and future downloadable content.

Momentum is building across the broader portfolio, with a Game of Thrones title on track for completion later this calendar year and external work-for-hire pipelines improving.

Despite the top-line upgrade, the report lowers net profit forecasts by -11% in FY26 and -41% in FY27 to reflect revised operating cost assumptions, establishing an FY26 earnings per share estimate of 2.5c.

This report was published on May 8, 2026.

Target price is $0.44 Current Price is $0.27 Difference: $0.17
If PLY meets the Shaw and Partners target it will return approximately 63% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.80.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.00.

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

PMT    PMET RESOURCES INC

Mining – Overnight Price: $0.73

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

Canaccord Genuity maintains a Speculative Buy rating for PMT Resources and increases the target price to $1.35 from $1.20 following a project update and recent capital raising.

The broker notes the Shaakichiuwaanaan project is progressing through federal and provincial environmental assessments, alongside applications for low-cost hydro power and a bulk underground sample to de-risk mine design.

An updated Feasibility Study due in late 2026 will incorporate tantalum production as a by-product, which is expected to lower lithium production costs by -7%, assuming a conservative pricing deck.

Tantalum prices have risen 110% year-to-date due to African mine supply issues, providing a material boost to the un-risked project net present value and offsetting recent equity dilution.

The report anticipates increased strategic interest in advanced development assets given an improving macro outlook for lithium and an upcoming preliminary economic assessment for combined production across the broader footprint.

This report was published on May 7, 2026.

Target price is $1.35 Current Price is $0.73 Difference: $0.615
If PMT meets the Canaccord Genuity target it will return approximately 84% (excluding dividends, fees and charges).

Forecast for FY26:

Forecast for FY27:

This company reports in CAD. 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

REA    REA GROUP LIMITED

Real Estate – Overnight Price: $176.89

Jarden rates ((REA)) as Neutral (3) –

Jarden maintains a Neutral rating for REA Group with an unchanged $176.00 target price following a third-quarter update featuring a -5% earnings miss.

The broker notes group revenue rose 11% to $398m, falling slightly short of expectations, potentially due to revenue deferrals anticipated to reverse in the final quarter.

Australian residential yields grew 14% alongside 1% volume growth, while management retained full-year national listing volume guidance expecting a -1% to -3% decline.

Market attention shifts toward revised FY26 cost guidance, commentary suggests, anticipating lower group expense growth in the low-to-mid single digits.

The current valuation balances steady operational momentum against emerging technological disruption risks and ongoing competition across the digital real estate sector, the broker concludes.

This report was published on May 8, 2026.

Target price is $176.00 Current Price is $176.89 Difference: minus $0.89 (current price is over target).
If REA 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 $213.43, suggesting upside of 20.7%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 475.9, implying annual growth of -7.3%.
Current consensus DPS estimate is 274.6, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 37.2.

Forecast for FY27:

Current consensus EPS estimate is 551.8, implying annual growth of 15.9%.
Current consensus DPS estimate is 320.4, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 32.1.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

RRL    REGIS RESOURCES LIMITED

Gold & Silver – Overnight Price: $6.85

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

Canaccord Genuity maintains a Buy rating and $8.70 target price for Regis Resources following the announcement of a proposed merger of equals with Vault Minerals ((VAU)), which holds a Buy rating and $7.40 target price.

The scheme of arrangement will see the acquirer take 100% control via a scrip-only consideration of 0.6947 shares for each Vault Minerals share, implying an equity value of roughly $5.2bn for the target.

The broker views the transaction as strategically sound, creating Australia’s third-largest primary gold producer with a combined market capitalisation of $11bn and production exceeding 700kozpa.

The enlarged entity is expected to benefit from more than $500m in tax synergies, the elimination of duplicate corporate costs, and enhanced appeal to global generalist investors.

A robust pro forma balance sheet featuring $1.9bn in cash and bullion with zero debt positions the business well to fund significant organic growth opportunities such as the McPhillamys and Sugar Zone projects.

This report was published on May 5, 2026.

Target price is $8.70 Current Price is $6.85 Difference: $1.85
If RRL meets the Canaccord Genuity target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $8.81, suggesting upside of 28.6%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 101.5, implying annual growth of 201.5%.
Current consensus DPS estimate is 29.0, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 6.7.

Forecast for FY27:

Current consensus EPS estimate is 138.2, implying annual growth of 36.2%.
Current consensus DPS estimate is 35.0, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 5.0.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

RXL    ROX RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.43

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

Canaccord Genuity maintains a Speculative Buy rating for Rox Resources with an unchanged $1.30 target price following the achievement of major development milestones at the Youanmi Gold Project.

The broker notes the Main Pit dewatering process is now complete, allowing the business to transition toward underground dewatering and accelerate development on the Main and Pollard declines.

Underground operations at United North are materially outperforming definitive feasibility study assumptions, achieving a record 342m of advance in April while early face sampling validates the geological model with grades above 4.99g/t of gold.

Following a final investment decision and $30m in recent quarterly development spending, the company retains $200m in cash and access to $350m in debt facilities to fund the ramp-up of surface construction and infrastructure activities.

The report anticipates near-term catalysts including further contract awards and the commencement of processing plant construction as the project remains on track for production in mid-2027.

This report was published on May 8, 2026.

Target price is $1.30 Current Price is $0.43 Difference: $0.865
If RXL meets the Canaccord Genuity target it will return approximately 199% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

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

SKS    SKS TECHNOLOGIES GROUP LIMITED

Technology – Overnight Price: $8.04

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

Canaccord Genuity maintains a Buy rating for SKS Technologies and raises its target price to $9.05 from $6.47 following an announcement detailing a substantial pipeline upgrade.

The broker notes the project pipeline has surged to $1.25bn from $573m, heavily driven by $1bn in data centre opportunities expected to be awarded over the next 12 months.

Victoria is emerging as a preferred market for hyperscalers due to faster planning approvals and superior power infrastructure compared to New South Wales, directly benefiting the business in its home state.

A recent $22m electrical technology contract win for a major retail headquarters pushes work in hand to $355m, while an expanded $52m bank guarantee facility improves funding capacity to support future growth.

Reflecting lower conversion risks and the massive data centre pipeline, the report lifts FY27 revenue estimates by 14% to $506m while noting earnings forecasts remain conservative ahead of imminent contract awards.

This report was published on May 8, 2026.

Target price is $9.05 Current Price is $8.04 Difference: $1.01
If SKS meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).

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

SUL    SUPER RETAIL GROUP LIMITED

Automobiles & Components – Overnight Price: $11.60

Jarden rates ((SUL)) as Overweight (2) –

Jarden maintains an Overweight rating for Super Retail and lowers the target price to $14.90 from $15.20 following a trading update highlighting softer auto and leisure sales.

The broker notes trading trends have slowed with a noticeable consumer shift towards needs-based shopping, particularly impacting the BCF and Macpac banners, while Rebel outperformed expectations.

Project costs of -$6m were brought forward, combining with the softer sales run-rate to drive an approximate -3% downgrade to FY26 EBIT forecasts.

To reflect the updated margin pressures and top-line moderation, earnings per share forecasts have been cut to 87.2c from 89.8c in FY26, and to 101.9c from 103.9c in FY27.

Commentary concludes the valuation remains attractive given the strong balance sheet, and management’s strategic inventory build in auto provides a buffer against impending price increases.

This report was published on May 6, 2026.

Target price is $14.90 Current Price is $11.60 Difference: $3.3
If SUL meets the Jarden target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $13.84, suggesting upside of 19.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 61.00 cents and EPS of 87.20 cents.
At the last closing share price the estimated dividend yield is 5.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 92.3, implying annual growth of -6.0%.
Current consensus DPS estimate is 58.7, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 12.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 73.00 cents and EPS of 101.90 cents.
At the last closing share price the estimated dividend yield is 6.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 103.3, implying annual growth of 11.9%.
Current consensus DPS estimate is 65.1, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 11.2.

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

TAH    TABCORP HOLDINGS LIMITED

Gaming – Overnight Price: $0.76

Jarden rates ((TAH)) as Overweight (2) –

Jarden maintains an Overweight rating for Tabcorp Holdings with an unchanged $1.05 target price following the commencement of an Austrac enforcement investigation into anti-money laundering compliance.

The broker views the recent -23% share price decline as an overreaction, noting the market is pricing in a severe financial penalty and material ongoing remediation costs well beyond historical sector precedents.

While repeat offender status presents a risk, a zero-penalty outcome remains possible via an enforceable undertaking.

Top-line implications appear limited compared to casino peers because the business relies overwhelmingly on mass-market wagering rather than high-risk VIP segments, commentary states.

Earnings per share forecasts remain steady at 2.5c in FY26 and 3.3c in FY27 pending further clarity on potential civil proceedings or provision disclosures.

This report was published on May 7, 2026.

Target price is $1.05 Current Price is $0.76 Difference: $0.295
If TAH meets the Jarden target it will return approximately 39% (excluding dividends, fees and charges).
Current consensus price target is $1.12, suggesting upside of 47.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 2.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.0, implying annual growth of 87.5%.
Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 25.3.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 3.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.6, implying annual growth of 20.0%.
Current consensus DPS estimate is 3.0, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 21.1.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

VNT    VENTIA SERVICES GROUP LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $5.72

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

Canaccord Genuity maintains a Buy rating for Ventia Services and raises the target price to $6.28 from $5.99 following the award of two new road maintenance contracts in Victoria.

The broker notes the agreements with the Department of Transport and Planning carry a combined value of $340m over an initial four-year base term commencing in July 2026.

These contracts represent an annualised revenue contribution of roughly $85m, driving a 13% uplift to previous Transport division forecasts.

The commentary highlights the timely nature of this win shortly after management reaffirmed guidance for 7% to 10% net profit growth at a recent investor day.

To reflect the material contract additions, the report lifts net profit estimates by 0.7% in FY26 and 1.5% in FY27.

This report was published on May 7, 2026.

Target price is $6.28 Current Price is $5.72 Difference: $0.56
If VNT meets the Canaccord Genuity target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $6.15, suggesting upside of 7.5%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 33.7, implying annual growth of 3.9%.
Current consensus DPS estimate is 25.5, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 17.0.

Forecast for FY27:

Current consensus EPS estimate is 36.3, implying annual growth of 7.7%.
Current consensus DPS estimate is 27.6, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 15.8.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

Disclaimer:
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 experienced, 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.

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