Daily Market Reports | Jun 06 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)
A1M AGE AQZ BRI FEX FFM FPH (2) NWH PWR SYA TLS TWE VIT
A1M AIC MINES LIMITED
Gold & Silver - Overnight Price: $0.47
Moelis rates ((A1M)) as Buy (1) -
Now that AIC Mines has cleared its new equity raising, updated its resources and reserves estimate, received the mining lease for Jericho and prepared Jericho for lift-off, Moelis raises its target price to 70c from 55c to reflect the de-risking.
The broker believes the company is well placed to benefit from copper price strength.
Buy rating retained.
This report was published on May 30, 2024.
Target price is $0.70 Current Price is $0.47 Difference: $0.225
If A1M meets the Moelis target it will return approximately 47% (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 3.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.32.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.18.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AGE ALLIGATOR ENERGY LIMITED
Uranium - Overnight Price: $0.06
Petra Capital rates ((AGE)) as Buy (1) -
Petra Capital expects Alligator Energy's results from its extension drilling program at Samphire (its Blackbush deposit extensions) will be incorporated into a resource update in the December quarter.
The field recovery trial results are due in this half, the feasibility study in 2025, and the mining licence work in 2025.
No FY24 or FY25 EPS forecasts were provided.
Buy rating and 11c target price retained.
This report was published on May 30, 2024.
Target price is $0.11 Current Price is $0.06 Difference: $0.052
If AGE meets the Petra Capital target it will return approximately 90% (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
AQZ ALLIANCE AVIATION SERVICES LIMITED
Transportation & Logistics - Overnight Price: $3.15
Wilsons rates ((AQZ)) as Overweight (1) -
Alliance Aviation management is anticipating a record FY24 profit before tax exceeding the $83.9m consensus forecast, notes Wilsons.
The broker points to the company's strong performance from its core flying operations and a $25m profit from the sale of five GE engines,
Alliance Aviation Services has an operating fleet of 70 aircraft, with four more in maintenance and the sale proceeds will reduce peak debt leverage from 1.9x to 1.7x, the analyst suggests.
The broker has increased confidence of a fully deployed operating fleet of 90-95 aircraft. The target price of $4.47 is currently under review. Overweight rating unchanged.
This report was published on May 29, 2024.
Target price is $4.47 Current Price is $3.15 Difference: $1.32
If AQZ meets the Wilsons target it will return approximately 42% (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 8.85.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 39.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.04.
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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