Daily FNArena News - Australia

A quick look into FN Arena’s database has taught us that most media stocks are trading above their average twelve month price targets.

Soon-to-be uranium producer Paladin Resources has run hard this month on fresh uranium price increases. But don’t discount operational risk, says UBS.

There are fears AWB may have forward sale commitments it will be unable to fill, forcing it buy in wheat at inflated prices. AWB will not divulge.

National Australia Bank sees a 70% chance the Reserve Bank will lift interest rates again next month as it continues to adopt a hawkish stance against inflation.

Carter Holt Harvey’s foray into the US market leads to reduced takeover appeal for Amcor, market sources say.

Optiscan continues to generate sales of its flexible endo-microscope, while clinical trial success of its rigid version potentially opens up new opportunities.

ABN Amro Morgans rates both Peplin and Ventracor as Buys, expecting both stocks to enjoy positive news flow in coming months thanks to successful trial results and growing product awareness.

Bank of Queensland’s profit result was better than the market has expected, but brokers continue to view the stock as overpriced.

Employment grew again last month, lending weight to RBA governor Glenn Stevens’ arguments yesterday regarding the economy, and to chances of a November hike.

Merrill Lynch has lifted its earnings estimates for BHP and Rio thanks to increases to iron ore price forecasts, while Citigroup suggests exploration success offers valuation upside.