Weekly Reports | Jun 28 2024
This story features ALKANE RESOURCES LIMITED. For more info SHARE ANALYSIS: ALK
Broker Rating Changes (Post Thursday Last Week)
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ALKANE RESOURCES LIMITED ((ALK)) Downgrade to Hold from Buy by Moelis.B/H/S: 0/0/0
Alkane Resources outlined a five-year production plan with better production, notes Moelis but at notably higher costs.
Remaining capital expenditures are estimated at $130m by the end of 2025, which is expected to be funded through cashflows and project debt, the analyst notes.
Moelis adjusts EPS estimates by 0.3% for FY24 and -75.8% for FY25.
Rating downgraded to Hold from Buy, with a target price reduced to 60c from 85c.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Downgrade | |||||
| 1 | ALKANE RESOURCES LIMITED | Neutral | Buy | Moelis | |
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| ALK | Alkane Resources | $0.51 | Moelis | 0.60 | 0.95 | -36.84% |
| APA | APA Group | $7.96 | Jarden | 9.00 | 9.20 | -2.17% |
| APZ | Aspen Group | $1.74 | Moelis | 2.48 | N/A | – |
| BPT | Beach Energy | $1.49 | Canaccord Genuity | 1.50 | 1.65 | -9.09% |
| Jarden | 1.55 | 1.75 | -11.43% | |||
| CUV | Clinuvel Pharmaceuticals | $15.24 | Wilsons | 31.38 | 25.46 | 23.25% |
| ENN | Elanor Investors | $0.95 | Moelis | 1.51 | 1.76 | -14.20% |
| EVN | Evolution Mining | $3.44 | Canaccord Genuity | 4.40 | 4.60 | -4.35% |
| HSN | Hansen Technologies | $4.46 | Goldman Sachs | 4.85 | 5.20 | -6.73% |
| KMD | KMD Brands | $0.34 | Canaccord Genuity | 0.39 | 0.42 | -7.14% |
| LLL | Leo Lithium | Canaccord Genuity | 0.50 | 0.80 | -37.50% | |
| MRM | MMA Offshore | $2.55 | Moelis | 2.70 | 2.60 | 3.85% |
| MTS | Metcash | $3.61 | Jarden | 4.40 | 4.20 | 4.76% |
| PLS | Pilbara Minerals | $3.18 | Jarden | 3.80 | 4.10 | -7.32% |
| PNV | PolyNovo | $2.44 | Wilsons | 2.65 | 2.44 | 8.61% |
| QBE | QBE Insurance | $17.44 | Goldman Sachs | 20.60 | 20.90 | -1.44% |
| Jarden | 21.20 | 21.50 | -1.40% | |||
| SDF | Steadfast Group | $6.15 | Goldman Sachs | 6.10 | 6.00 | 1.67% |
| SPZ | Smart Parking | $0.49 | Canaccord Genuity | 0.70 | 0.52 | 34.62% |
| TWE | Treasury Wine Estates | $12.53 | Goldman Sachs | 15.20 | 13.40 | 13.43% |
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
CUV CLINUVEL PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences Overnight Price: $15.38
Wilsons rates ((CUV)) as Overweight (1)
Wilsons highlights the lucrative leverage opportunities provided by the Scenesse label expansion into vitiligo, and the launch
into the Adrenocorticotropic Hormone (ACTH) market in the US.
As management at Clinuvel Pharmaceuticals keeps providing more information around expectations and preparation work, the broker suggest the opportunity is being materially undervalued by the wider market.
The company is aiming to leverage Scenesse into more indications (vitiligo, XP), and add new pharmaceutical product lines (Neuracthel), as well as diversify into photocosmetics (with a broader consumer audience), explains the broker.
The Overweight rating is retained and the target rises to $31.38 from $25.46.
This report was published on June 25, 2024.
Target price is $31.38 Current Price is $15.38 Difference: $16
If CUV meets the Wilsons target it will return approximately 104% (excluding dividends, fees and charges).
Current consensus price target is $18.75, suggesting upside of 23.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 7.40 cents and EPS of 61.60 cents.
At the last closing share price the estimated dividend yield is 0.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 70.2, implying annual growth of 13.3%.
Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 21.6.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 8.90 cents and EPS of 59.20 cents.
At the last closing share price the estimated dividend yield is 0.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 76.3, implying annual growth of 8.7%.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 19.9.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DTL DATA#3 LIMITED.
IT & Support Overnight Price: $8.32
Wilsons rates ((DTL)) as Overweight (1)
Wilsons conducts a deep dive into digital infrastructure, including the “order of magnitude” of growth that cloud computing is generating in the Australian economy, which is expected to be significantly enhanced with GenAi.
The analyst stresses the cloud has been “great” but GenAi will make it “bigger and better” with the installed base having the potential to grow three times what it currently is to 38GWs from 13GWs.
Wilsons views the Data#3 business model, which partners with major hyperscalers like Microsoft to manage and develop complex IT systems, as well positioned to benefit from GenAi opportunities, including the recent Microsoft Office 365 Co-Pilot Early Access’ program.
The Overweight rating and $9.12 target price are retained.
This report was published on June 21, 2024.
Target price is $9.12 Current Price is $8.32 Difference: $0.8
If DTL meets the Wilsons target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $8.13, suggesting downside of -2.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 26.10 cents and EPS of 28.90 cents.
At the last closing share price the estimated dividend yield is 3.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.0, implying annual growth of 16.9%.
Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 29.7.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 28.80 cents and EPS of 31.60 cents.
At the last closing share price the estimated dividend yield is 3.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 30.2, implying annual growth of 7.9%.
Current consensus DPS estimate is 27.1, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 27.5.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DUG DUG TECHNOLOGY LIMITED
Cloud services Overnight Price: $2.63
Wilsons rates ((DUG)) as Overweight (1)
Wilsons conducts a deep dive into digital infrastructure, including the “order of magnitude” of growth that cloud computing is generating in the Australian economy, which is expected to be significantly enhanced with GenAi.
The analyst stresses the cloud has been “great” but GenAi will make it “bigger and better” with the installed base having the potential to grow three times what it currently is to 38GWs from 13GWs.
While Dug Technology’s primary business is in the global oil and gas industry, the analyst at Wilsons points to the potential for the company’s liquid immersion business to be expanded into the cooling systems for data centres.
Overweight rating. Target price of $3.58.
This report was published on June 21, 2024.
Target price is $3.58 Current Price is $2.63 Difference: $0.95
If DUG meets the Wilsons target it will return approximately 36% (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 2.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 90.69.
Forecast for FY25:
Wilsons 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 52.60.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SPZ SMART PARKING LIMITED
Hardware & Equipment Overnight Price: $0.47
Canaccord Genuity rates ((SPZ)) as Buy (1)
Canaccord Genuity maintains a Buy rating for Smart Parking, raising its price target to $0.70 from $0.52.
The broker notes the strong growth trajectory in the SaaS segment, with FY24 sales expected at $55.0m, down from previous estimates of $59.6m.
Despite the downgrade in sales and EBITDA forecasts for FY24/25/26, the broker maintains the company’s long-term prospects remain robust due to ongoing contract wins and market expansion.
Financial forecasts have been adjusted, with FY24 EBITDA revised to $14.8m from $16.8m, and FY25 EBITDA to $20.1m from $21.8m. The broker views the recent operational improvements and strategic initiatives positively, supporting the raised price target.
This report was published on June 20, 2024.
Target price is $0.70 Current Price is $0.47 Difference: $0.23
If SPZ meets the Canaccord Genuity target it will return approximately 49% (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 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 33.57.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.08.
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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