In Case You Missed It – BC Extra Upgrades & Downgrades – 29-05-26

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This story features CAR GROUP LIMITED, and other companies.
For more info SHARE ANALYSIS: CAR
The company is included in ASX50, ASX100, ASX200, ASX300, ALL-ORDS and ALL-TECH

A summary of the highlights from Broker Call Extra updates throughout the week past.

Broker Rating Changes (Post Thursday Last Week)

Upgrade

CAR GROUP LIMITED ((CAR)) Upgrade to Overweight from Neutral by Jarden.B/H/S: 0/0/0

Jarden retains an Overweight rating for CAR Group with a $29.50 target price following a monthly online classifieds industry update.

Australian new car sales accelerated in April, growing 11.3% compared to a 4.6% increase in March.

International markets displayed mixed momentum, with Brazilian new car sales surging 23% year-on-year while United States light and heavy truck sales contracted.

The broker highlights the company trades on an estimated FY26 price-to-earnings multiple of 23.8x, supported by an 11% two-year earnings per share compound annual growth rate to FY28.

GENTRACK GROUP LIMITED ((GTK)) Upgrade to Neutral from Underweight by Jarden.B/H/S: 0/0/0

Jarden has upgraded its rating for Gentrack Group to Neutral from Underweight.

Downgrade

NICK SCALI LIMITED ((NCK)) Downgrade to Neutral from Overweight by Jarden.B/H/S: 0/0/0

Jarden downgrades Nick Scali to a Neutral rating from Overweight with its target price decreased to $16.60 from $20.68 following a transfer of analyst coverage.

A comprehensive business review highlights the recent United Kingdom market entry as a fresh growth lever with substantial value upside.

Slower domestic revenue outlooks tied to inflation, interest rates, and expected declines in housing turnover drive an approximate -10% reduction to FY27 earnings per share projections.

The company trades on an estimated FY26 price-to-earnings multiple of 14.9x, aligning closely with historical averages, commentary suggests.

The broker views the cyclical macroeconomic risks in Australia and New Zealand as appropriately balanced against the offshore expansion opportunity.

Price Target Changes (Post Thursday Last Week)

More Highlights

AQI    ALICANTO MINERALS LIMITED

Gold & Silver – Overnight Price: $1.55 

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

Canaccord Genuity initiates coverage on Alicanto Minerals with a Speculative Buy rating and a $3.35 target price.

The gold developer is advancing the fully owned Mt Henry-Selene Gold Project in Western Australia, which currently hosts a 915koz resource constrained by a legacy $2,160/oz pit shell.

A 50,000m multi-rig drilling campaign is underway to rapidly expand the shallow mineralisation footprint across the 16km corridor and test lower-grade halos excluded from previous models.

Management recently executed earn-out agreements for the Swedish asset portfolio to generate up to $9m in cash and milestones, while concurrently expanding the Mt Henry footprint via a strategic tenement acquisition.

Valuation models assume the resource grows to 2Moz to support a 3.5Mtpa operation over a seven-year mine life, positioning the company for a material re-rating, the broker notes.

This report was published on May 23, 2026.

Target price is $3.35 Current Price is $1.55 Difference: $1.8
If AQI meets the Canaccord Genuity target it will return approximately 116% (excluding dividends, fees and charges).

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: $2.11 

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

Jarden retains an Overweight rating for Autosports Group with its target price decreased to $3.30 from $4.05 following a re-assessment of the earnings outlook.

Interest rates have increased significantly since the previous financial result, prompting the broker to cut medium-term earnings forecasts due to elevated corporate debt and bailment expenses.

At a headline level, new vehicle demand appears resilient, supported by a clear shift toward electric vehicles as order rates triple year-on-year.

This dynamic has allowed the company to build high-margin order banks across several models, providing support for early FY27 earnings despite broader macroeconomic pressures, the report suggests.

The broker notes a potential risk if electric vehicle demand moderates without an equivalent shift back to internal combustion engine models.

This report was published on May 21, 2026.

Target price is $3.30 Current Price is $2.11 Difference: $1.19
If ASG meets the Jarden target it will return approximately 56% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.60 cents and EPS of 23.20 cents.
At the last closing share price the estimated dividend yield is 4.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.09.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 11.10 cents and EPS of 25.60 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 8.24.

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

GMD    GENESIS MINERALS LIMITED

Gold & Silver – Overnight Price: $5.90 

Moelis rates ((GMD)) as Buy (1) –

Moelis maintains a Buy rating for Genesis Minerals with a $8.50 target price following the execution of an engineering, procurement, and construction contract.

A $229m agreement was signed with GR Engineering to construct the Tower Hill processing plant, advancing infrastructure development to support a 3.5 to 4.0Mtpa production capacity.

This milestone supports broader corporate ambitions to establish a larger, longer-life domestic gold platform with an expanded processing base, commentary suggests.

While the contract formalises plant-build metrics, the premium multiple remains dependent on delivering the expanded capacity without capital overruns or ramp-up delays, the broker notes.

This development is viewed as a moderately de-risking step, though broader capital envelopes and delivery schedules must be confirmed to act as a definitive valuation catalyst.

This report was published on May 22, 2026.

Target price is $8.50 Current Price is $5.90 Difference: $2.6
If GMD meets the Moelis target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $9.33, suggesting upside of 58.1%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 51.5, implying annual growth of 154.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.5.

Forecast for FY27:

Current consensus EPS estimate is 62.4, implying annual growth of 21.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.5.

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

HUM    HUMM GROUP LIMITED

Business & Consumer Credit – Overnight Price: $0.60 

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

Shaw and Partners maintains a Buy rating for Humm Group with a $0.85 target price following the release of the March quarter trading update.

The broker opines the financial results show strong credit quality and resilient consumer card margins helping offset macroeconomic headwinds within the large commercial division.

Flexicommercial volumes fell -4% relative to the prior corresponding period as competitive pressures and rising interest rates compressed net interest margins by -50 basis points.

Adjusted earnings estimates are reduced -11% to -19% across the forecast period to account for these margin pressures and one-off corporate transaction costs.

A takeover proposal from Credit Corp ((CCP)) remains under active consideration while further due diligence is conducted.

This report was published on May 26, 2026.

Target price is $0.85 Current Price is $0.60 Difference: $0.245
If HUM meets the Shaw and Partners target it will return approximately 40% (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 2.70 cents and EPS of 6.10 cents.
At the last closing share price the estimated dividend yield is 4.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.92.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 3.20 cents and EPS of 10.30 cents.
At the last closing share price the estimated dividend yield is 5.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.87.

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

PV1    PROVARIS ENERGY LIMITED

Energy – Overnight Price: $0.01 

Research as a Service (RaaS) rates ((PV1)) as No Rating (-1) –

Provaris Energy is entering a critical phase on the commercialisation route, currently in a fabrication phase for its hydrogen tank prototype and, in parallel, progressing its lithium cobalt oxide business.

Research as a Service (RaaS) expects both prototypes could receive approvals in the September quarter and assesses the commercial gap between the lithium cobalt oxide and hydrogen opportunities is closing, with more definition around the lithium cobalt oxide revenue model later in the year.

While the company will not be the only operator in these emerging sectors, achieving delivery on expectations in 2026 should, in the analyst’s view, cement its significant IP early-mover advantage. The base case valuation sits at $0.13.

Research as a Service (RaaS) research doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.

This report was published on May 25, 2026.

Target price is $0.13 Current Price is $0.01 Difference: $0.12
If PV1 meets the Research as a Service (RaaS) target it will return approximately 1200% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.29 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 3.45.

Forecast for FY27:

Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.36 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 2.78.

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

TLX    TELIX PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $13.43 

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

Canaccord Genuity maintains a Buy rating for Telix Pharmaceuticals with a $30.00 target price following insights from its recent investor conference.

The broker reports discussion focused on growth projections for the prostate-specific membrane antigen franchise, driven by pricing and market share gains from the second-generation product Gozellix.

Preliminary research highlights the potential of the licensed AlFluor technology, an 18F-based agent designed to offer a decentralised point-of-care supply chain.

Commentary explains this candidate could challenge centralised incumbents by decoupling production from the morning cyclotron rush and securing a 12.5% uplift in franchise sales.

A late 2027 regulatory filing could support a mid-2028 regulatory approval, perpetuating the successful dual-product commercial strategy through transitional pass-through status from early 2029, the report concludes.

This report was published on May 25, 2026.

Target price is $30.00 Current Price is $13.43 Difference: $16.57
If TLX meets the Canaccord Genuity target it will return approximately 123% (excluding dividends, fees and charges).
Current consensus price target is $26.10, suggesting upside of 94.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is -2.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY27:

Current consensus EPS estimate is 31.6, 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 42.5.

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

WC8    WILDCAT RESOURCES LIMITED

New Battery Elements – Overnight Price: $0.56 

Canaccord Genuity rates ((WC8)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Wildcat Resources with its target price increased to $1.30 from $1.10 following a site visit to the Tabba Tabba lithium project.

A pending definitive feasibility study is reportedly 70% complete and targets a September quarter release, incorporating project scope refinements such as accelerated underground development and a staged plant expansion.

These operational adjustments expand modelled production to 656,000 tonnes per annum from 2033 while delivering an estimated 10% improvement in all-in sustaining costs.

Management expects to submit construction applications this month to maintain a schedule targeting site development in 2027 and initial production in 2028.

Strong interest from potential strategic partners and commercial financiers provides the broker confidence the asset will be comfortably funded through the current cycle.

This report was published on May 27, 2026.

Target price is $1.30 Current Price is $0.56 Difference: $0.735
If WC8 meets the Canaccord Genuity target it will return approximately 130% (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

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