Daily Market Reports | Mar 25 2024
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)
AGY AKG ALK AQZ BGL BKT BLD BRG CU6 CYG EML FEX IAG IGO IPH IRE KAR KMD (2) QIP SUN SYA TWE VVA WEB (2)
AKG ACADEMIES AUSTRALASIA GROUP LIMITED
Overnight Price: $0.24
Taylor Collison rates ((AKG)) as Speculative Buy (1) -
Academies Australasia's first half result was a miss for Taylor Collison, but the broker notes the headwinds impacting the result were felt industry-wide.
The broker points out there is ongoing uncertainty as to government policy surrounding international student visas, and this impacts on its valuation of the stock.
Taylor Collison does, however, see upside risk for investors over the coming 12-18 months.
The Speculative Buy rating is retained and the target price decreases to 35 cents from 40 cents.
This report was published on March 19, 2024.
Target price is $0.35 Current Price is $0.24 Difference: $0.105
If AKG meets the Taylor Collison target it will return approximately 43% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Taylor Collison forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 7.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.50.
Forecast for FY25:
Taylor Collison forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 15.31.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALK ALKANE RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.60
Petra Capital rates ((ALK)) as Buy (1) -
Latest assays from the infill drilling program at Alkane Resources' Kaiser project have uncovered the highest gold grade interval recorded at the deposit, an 8.6 metre interval at 14.8 grames per tonne.
For Petra Capital, this wasn't, however, the standout, with a thicker 162 metre interval at 2.13 grams per tonne grabbing the broker's attention.
Alongside near surface intercepts reported in February, Petra Capital sees scope for a mining schedule to commence with a relatively high-grade starter pit at Kaiser.
The broker anticipates a scoping study in June. The Buy rating and target price of $1.02 are retained.
This report was published on March 18, 2024.
Target price is $1.02 Current Price is $0.60 Difference: $0.42
If ALK meets the Petra Capital target it will return approximately 70% (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 4.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.77.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 6.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.96.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AQZ ALLIANCE AVIATION SERVICES LIMITED
Transportation & Logistics - Overnight Price: $2.99
Wilsons rates ((AQZ)) as Overweight (1) -
Wilsons has undertaken a cash flow and capital management analysis for Alliance Aviation Services given a significant fleet expansion is only partially complete. It's felt the current funding gap (based on available debt facilities) will be resolved due to strong earnings growth.
Independent of the several options management has to close the funding gap, is the board's consideration for the timing of resumption of dividends, according to the broker.
Wilsons lowers its target to $4.35 from $4.48 and maintains an Overweight rating.
This report was published on March 21, 2024.
Target price is $4.35 Current Price is $2.99 Difference: $1.36
If AQZ meets the Wilsons target it will return approximately 45% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 35.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.40.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 39.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.59.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BGL BELLEVUE GOLD LIMITED
Gold & Silver - Overnight Price: $1.89
Canaccord Genuity rates ((BGL)) as Speculative Buy (1) -
Drilling at Bellevue Gold's Deacon Main project has identified a new high-grade shoot. The shoot, points out Canaccord Genuity, has a similar mineralisation style to the high-grade Bellevue Lode shoots, which were mined for 800,000 ounces at 13 grams per tonne.
Results of the drilling outperform the resource identified in the current mine plan, says Canaccord Genuity, with drilling further identifying potential for six additional high-grade shoots.
The broker lifts its FY25 production forecast to 200,000 ounces.
The Speculative Buy rating is retained and the target price increases to $2.00 from $1.80.
This report was published on March 19, 2024.
Target price is $2.00 Current Price is $1.89 Difference: $0.115
If BGL meets the Canaccord Genuity target it will return approximately 6% (excluding dividends, fees and charges).
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 10.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.85.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 27.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.98.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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