Daily Market Reports | 10:30 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ALL BC8 BET BGD BRI CMA CYL KCN (2) LTR (2) MHJ PPE PPS SYL
ALL ARISTOCRAT LEISURE LIMITED
Gaming - Overnight Price: $60.51
Jarden rates ((ALL)) as Buy (1) -
Jarden maintains a Buy rating for Aristocrat Leisure with a $66.00 target price following a proprietary venue-level database review of recent game installations.
The Monopoly Big Board Bucks title, launched in April 2026, is now available across 454 North American venues, with 64 locations added between July 31 and August 31.
Jarden believes this installation cadence implies upside to the top end of management's 4,000 to 5,000 net install guidance for FY26.
The title currently ranks as the second most popular new Gaming Ops release and fourth overall, although a July Eilers index of 2.94x represented the first sequential decline since launch.
The analyst expects the game to drive a positive product mix through the second half of FY26.
This report was published on September 1, 2026.
Target price is $66.00 Current Price is $60.51 Difference: $5.49
If ALL meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $65.04, suggesting upside of 7.5%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 256.1, implying annual growth of 11.7%.
Current consensus DPS estimate is 99.1, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 23.6.
Forecast for FY27:
Current consensus EPS estimate is 287.0, implying annual growth of 12.1%.
Current consensus DPS estimate is 109.8, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 21.1.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BC8 BLACK CAT SYNDICATE LIMITED
Gold & Silver - Overnight Price: $1.13
Moelis rates ((BC8)) as Buy (1) -
Moelis maintains a Buy rating for Black Cat Syndicate with a $1.60 target price following an FY26 result featuring an adjusted NPAT of $85.2m.
The profit fell -13% short of the broker's estimates due to lower-than-expected revenue of $374.3m, driven by accounting complexities surrounding toll treatment recognition.
Operating cash flow also missed expectations at $225.4m, offset by lower capital and investing cash outflows.
According to the analyst, the delayed release of the FY27 outlook may create a near-term overhang on the share price until published later in September.
Commentary concludes Black Cat retains a strong financial position, holding nearly $74m in cash and $32m in bullion with zero debt, while trading on inexpensive valuation multiples ahead of a planned production ramp-up at the Kal East operation.
This report was published on September 1, 2026.
Target price is $1.60 Current Price is $1.13 Difference: $0.47
If BC8 meets the Moelis target it will return approximately 42% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 26.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.25.
Forecast for FY28:
Moelis forecasts a full year FY28 dividend of 0.00 cents and EPS of 37.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.05.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BET BETMAKERS TECHNOLOGY GROUP LIMITED
Gaming - Overnight Price: $0.21
Canaccord Genuity rates ((BET)) as Hold (3) -
Canaccord Genuity maintains a Hold rating for Betmakers Technology with a $0.24 target price following an FY26 result highlighting adjusted EBITDA of $14.1m alongside an apparent free cash flow inflection.
Full-year revenue grew 9% to $92.6m, driven by core digital offerings lowering costs and expanding the adjusted EBITDA margin to 15.2%.
The analyst notes the business has entered a Scheme of Arrangement with Tabcorp Holdings ((TAH)), offering shareholders $0.24 per share in cash and valuing the entity at roughly $283m.
Canaccord Genuity considers the proposed transaction a fair representation of near-term value, expecting target completion in the third quarter of FY27 given the anticipated $30m in synergies Tabcorp can extract.
Canaccord's estimates for FY27 incorporate a -1% reduction to revenue forecasts while EBITDA projections remain unchanged.
This report was published on September 1, 2026.
Target price is $0.24 Current Price is $0.21 Difference: $0.03
If BET meets the Canaccord Genuity target it will return approximately 14% (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
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