Australian Broker Call *Extra* Edition – Nov 07, 2023

This story features BLUESCOPE STEEL LIMITED, and other companies. For more info SHARE ANALYSIS: BSL

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)

BSL   CRN   CXL   CXO   DXI   EVO   FBU   G1A   JRV   MDR   PNR   QPM   RMD   TIE  

BSL    BLUESCOPE STEEL LIMITED

Steel & Scrap – Overnight Price: $19.48

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

While third quarter results across the steel industry were weighed down by lower industry pricing driven by softer near-term market conditions, Jarden warns impacts are not only expected to persist into the fourth quarter but the decline could be harsher. 

The broker considers BlueScope Steel well managed, and feels the company's capital allocation remains on point, but expects the industry is unlikley to see relief in US steel spreads until there is resolution from the current automotive strikes. 

The Overweight rating and target price of $24.50 are retained.

This report was published on October 27, 2023.

Target price is $24.50 Current Price is $19.48 Difference: $5.02
If BSL meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $18.80, suggesting downside of -3.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 50.00 cents and EPS of 180.80 cents.
At the last closing share price the estimated dividend yield is 2.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 172.6, implying annual growth of -20.6%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 11.3.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 50.00 cents and EPS of 191.20 cents.
At the last closing share price the estimated dividend yield is 2.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 195.9, implying annual growth of 13.5%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 9.9.

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

CRN    CORONADO GLOBAL RESOURCES INC

Coal – Overnight Price: $1.71

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

Coronado Global Resources reported a weaker 3Q result than Goldman Sachs anticipated due to higher costs and lower coal sales.

Production at the Curragh mine in Queensland fell due to wash plant maintenance and ongoing catch-up on waste stripping, explain the analysts.

The realised met coal price of US$207/t slightly exceeded the broker's US$202/t forecast.

Management lowered 2023 guidance to 16.2-16.4Mt of saleable coal, down from 16.8-17.2Mt. The broker believes production of 4.2Mt to hit the bottom end of guidance is achievable.

Buy rating retained. Target eases by -3% to $1.95.

This report was published on October 30, 2023.

Target price is $1.95 Current Price is $1.71 Difference: $0.24
If CRN meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $2.04, suggesting upside of 19.3%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 1.51 cents and EPS of 25.60 cents.
At the last closing share price the estimated dividend yield is 0.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.0, implying annual growth of N/A.
Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 5.9.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 13.55 cents and EPS of 19.58 cents.
At the last closing share price the estimated dividend yield is 7.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.0, implying annual growth of 37.9%.
Current consensus DPS estimate is 13.7, implying a prospective dividend yield of 8.0%.
Current consensus EPS estimate suggests the PER is 4.3.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CXL    CALIX LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $3.15

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

Canaccord Genuity sees positives now that the agreement between Calix's 93%-owned Leilac and Heirloom Carbon has become binding. The agreement is for the use of Leilac technology in Heirloom's Direct Air Capture (DAC) process.

Additionally, the two companies have signed a collaboration agreement which includes a US$3m contribution from Heirloom towards DAC and lime-related R&D activities.

Further news on Heirloom's progress and the increasing profile for DAC is also a distinct positive for Calix, in the broker's view. 

Heirloom's process, which has been trialed at small scale at Calix's facility at Bacchus Marsh, uses lime as a low-cost solution to directly capture CO2 from the atmosphere.

The Buy rating and $7.70 target are maintained.

This report was published on October 30, 2023.

Target price is $7.70 Current Price is $3.15 Difference: $4.55
If CXL meets the Canaccord Genuity target it will return approximately 144% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

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

CXO    CORE LITHIUM LIMITED

New Battery Elements – Overnight Price: $0.38

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

Core Lithium's 1Q results revealed a 41% quarter-on-quarter increase in spodumene production and inaugural spodumene sales of 23kt SC5.0 at a realised price of US$2,560/t.

Cash costs of $1,067/t were a beat compared to the broker's forecast though the number excludes around $20m for inventory build and deferred waste stripping, highlight the analysts.

While the broker's FY24 earnings (EBITDA) forecast rises to $72m from $65m on lower expensed costs, the target falls by -8% to 55c on lower long-term recoveries. The Speculative Buy rating is unchanged.

This report was published on October 30, 2023.

Target price is $0.55 Current Price is $0.38 Difference: $0.175
If CXO meets the Canaccord Genuity target it will return approximately 47% (excluding dividends, fees and charges).
Current consensus price target is $0.48, suggesting upside of 28.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 3.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.7, implying annual growth of 885.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 5.6.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.6, implying annual growth of -31.3%.
Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 8.2.

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

DXI    DEXUS INDUSTRIA REIT

REITs – Overnight Price: $2.58

Moelis rates ((DXI)) as Buy (1) –

Dexus Industria REIT has sold two East-Melbourne assets for $45m, representing an average 0.6% premium to book value, observes Moelis.

The properties were 32-40 Garden Street Kilsyth and 57-67 Mark Anthony Drive, Dandenong.

Moelis observes balance shet gearing falls to 18%, which the broker expects will accommodate the REIT's development pipeline.

Buy rating retained, Moelis observing the company is trading at a -29% discount to net tangible assets (-20% ungeared). Target price eases to $3.11 from $3.24 to reflect higher base interest rate assumptions.

This report was published on October 30, 2023.

Target price is $3.11 Current Price is $2.58 Difference: $0.53
If DXI meets the Moelis target it will return approximately 21% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 16.40 cents and EPS of 17.10 cents.
At the last closing share price the estimated dividend yield is 6.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.09.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 16.60 cents and EPS of 17.50 cents.
At the last closing share price the estimated dividend yield is 6.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.74.

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

EVO    EMBARK EARLY EDUCATION LIMITED

Education & Tuition – Overnight Price: $0.68

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

Petra Capital has made no changes to earnings forecasts following Embark Early Education’s trading update, which showed slowing occupancy growth as the broker had expected.

The declaration of a 2.0c interim dividend has nonetheless led to the broker increasing its dividend forecast in each of the next three years by 0.5cps.

With occupancy still well ahead of listed peers, and relatively attractive valuation metrics, Petra continues to see significant upside in the share price. Buy retained, target $1.05.

This report was published on November 7, 2023.

Target price is $1.05 Current Price is $0.68 Difference: $0.375
If EVO meets the Petra Capital target it will return approximately 56% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Petra Capital forecasts a full year FY23 dividend of 3.70 cents and EPS of 4.62 cents.
At the last closing share price the estimated dividend yield is 5.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.60.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 4.16 cents and EPS of 5.36 cents.
At the last closing share price the estimated dividend yield is 6.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.58.

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

FBU    FLETCHER BUILDING LIMITED

Building Products & Services – Overnight Price: $4.12

Jarden rates ((FBU)) as Buy (1) –

The current softer residential cycle is proving deeper than Fletcher Building had anticipated, with residential volumes now down around -25% from the peak in late 2021, although in line with Jarden's expectations, but with green shoots of an early turn appearing. 

The company continues to work with industy on solutions to the Iplex pipe issue. However, Fletcher Building maintains the issue is an installation one, and has at this point made no provisions to contribute to repair bills that it estimates at $50-100m. 

The broker saw nothing in the company's update to drive changes to its FY24 earnings forecast. The Buy rating is retained and the target price decreaes to NZ$6.20 from NZ$6.40.

This report was published on November 27, 2023.

Current Price is $4.12. Target price not assessed.
Current consensus price target is $5.37, suggesting upside of 30.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 29.60 cents and EPS of 40.51 cents.
At the last closing share price the estimated dividend yield is 7.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.1, implying annual growth of N/A.
Current consensus DPS estimate is 27.8, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 10.3.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 29.60 cents and EPS of 46.06 cents.
At the last closing share price the estimated dividend yield is 7.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 38.0, implying annual growth of -5.2%.
Current consensus DPS estimate is 25.9, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 10.8.

This company reports in NZD. 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

G1A    GALENA MINING LIMITED

Mining – Overnight Price: $0.07

Petra Capital rates ((G1A)) as Buy (1) –

Galena Mining released a weaker Sep Q performance at its 60%-owned Abra lead-silver project in WA than Petra Capital had expected. This was driven by lower mined grades and higher costs than forecast, which have led to a 2023 guidance downgrade.

Notwithstanding, operational records were achieved across multiple fronts, the broker notes, and Galena is guiding to a cash flow positive Dec Q.

With the balance sheet in focus, the Dec Q will be a turning point for the stock and at the current share price Petra believes the share price could rebound strongly. Buy retained, target falls to 26c from 28c.

This report was published on November 7, 2023.

Target price is $0.26 Current Price is $0.07 Difference: $0.195
If G1A meets the Petra Capital target it will return approximately 300% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Petra Capital forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.50.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of 3.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 1.76.

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

JRV    JERVOIS GLOBAL LIMITED

New Battery Elements – Overnight Price: $0.03

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

Canaccord Genuity suggests management commentary at 1Q results around a delay in demand recovery for refined cobalt to 2025 from 2024 should come as no surprise to investors, given delays being witnessed in the US auto sector.

September quarter cobalt sales for Jervois Global out of the Kokkola refinery in Finland fell by -24% quarter-on-quarter on softer cyclical demand, explain the analysts.

Management noted ongoing de-stocking through the company's battery supply chain customers with inventory levels still above normal levels.

The company's Idaho Cobalt Operations (ICO) have been placed into care and maintenance due to falling cobalt prices and inflationary impacts on construction costs. Around -US$1m in quarterly costs are expected during this time.

The Speculative Buy rating and 11c target are retained.

This report was published on October 30, 2023.

Target price is $0.11 Current Price is $0.03 Difference: $0.076
If JRV meets the Canaccord Genuity target it will return approximately 224% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.80.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 34.00.

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

MDR    MEDADVISOR LIMITED

Healthcare services – Overnight Price: $0.19

Moelis rates ((MDR)) as Buy (1) –

MedAdvisor's September-quarter outpaced Moelis's forecasts, thanks to a beat on revenue and margins struck on new and existing programs in the US, A&NZ price increases, and favourable FX. It also included the full period contribution from GuildLink.

Cash receipts eased, along with costs and the company closed the quarter with $4.2m in net debt and $9.8m cash on hand.

No specific guidance was provided but the company retained its intention to deliver profitable growth this financial year.

Moelis appreciates the company's strong pipeline and 90m digital patient reach, and management retained its 100m target. The broker says much depends on MedAdvisor's ability to diversity away from covid-related products, which should be evident by the next quarter.

Buy rating retained and 38c target price retained.

This report was published on October 30, 2023.

Target price is $0.38 Current Price is $0.19 Difference: $0.19
If MDR meets the Moelis target it will return approximately 100% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 95.00.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 47.50.

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

PNR    PANTORO LIMITED

Gold & Silver – Overnight Price: $0.04

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

Pantoro continued to ramp up both the open pit and underground operations at Norseman in the Sep Q. After the slower than expected start, grades are improving, Petra Capital notes, and gold output is growing every month.

This trend expected to continue through the Dec Q as the underground delivers more tonnes and Scotia open pit pushes down into broader zones of better grade gold.

Operating leverage is significant, the broker notes, and with no further merger related costs and a robust A$ gold price environment, free cash flow will improve during FY24.

Petra sees significant re-rating potential over coming months as production stabilises and investor and corporate interest returns to this large and highly strategic asset. Buy retained, target rises to 13c from 12c.

This report was published on November 7, 2023.

Target price is $0.13 Current Price is $0.04 Difference: $0.091
If PNR meets the Petra Capital target it will return approximately 233% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.00.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.33.

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

QPM    QUEENSLAND PACIFIC METALS LIMITED

Nickel – Overnight Price: $0.06

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

Petra Capital advises that, since assuming operatorship at Moranbah Gas, Queensland Pacific Metals has raised production 25% to 25 terrajoules a day from 20.

The broker observes that the company embarked on several low-cost growth projects in October which it expects will steer production to 30 TJ/d by year-end (above company guidance).

EPS forecasts are steady.

Buy rating retained. Target price eases to 24c from 28c.

This report was published on October 31, 2023.

Target price is $0.24 Current Price is $0.06 Difference: $0.18
If QPM meets the Petra Capital target it will return approximately 300% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 60.00.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.00.

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

RMD    RESMED INC

Medical Equipment & Devices – Overnight Price: $23.87

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

Goldman Sachs decsribes a "mixed" Q1 result for ResMed showing some softness in US devices offset by strength in rest-of-the-world (RoW)/masks.

Strong device momentum in ROW should not only drive earnings upgrades, according to the analysts, but also assuage concerns around the early impact from weight loss drugs and competitive dynamics.

A stabilisation of gross margins, rising by 20bps, and new guidance for selling, general and administrative (SG&A) expenses drives forecast earnings upgrades by the broker.

The target falls by -3% to $32. Buy.

This report was published on October 30, 2023.

Target price is $32.00 Current Price is $23.87 Difference: $8.13
If RMD meets the Goldman Sachs target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $32.01, suggesting upside of 34.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 30.12 cents and EPS of 109.94 cents.
At the last closing share price the estimated dividend yield is 1.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 111.3, implying annual growth of N/A.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 21.4.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 33.13 cents and EPS of 120.48 cents.
At the last closing share price the estimated dividend yield is 1.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 126.6, implying annual growth of 13.7%.
Current consensus DPS estimate is 32.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 18.9.

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

TIE    TIETTO MINERALS LIMITED

Gold & Silver – Overnight Price: $0.59

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

Tietto Minerals' 7.02%-shareholder, Hong Kong-listed Zhaojin Mining Industry, has launched an all-cash off-market takeover proposal at 58cps.

Canaccord Genuity believes the potential acquirer is sufficiently funded to complete the transaction. The board recommends shareholders take no action at this stage while the proposal is being reviewed.

The company also released 3Q figures showing production of 33.8koz from the Abujar Gold Mine in Cote d'Ivoire compared to the broker's 31koz forecast.

The Speculative Buy rating and 45c target are unchanged. 

This report was published on October 30, 2023.

Target price is $0.45 Current Price is $0.59 Difference: minus $0.14 (current price is over target).
If TIE meets the Canaccord Genuity target it will return approximately minus 24% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in December.

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

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