Daily Market Reports | Sep 16 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.
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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)
AEE ANZ AX1 BXB CBA CCR CU6 DXB HGO MAY NAB NWC REG WBC
AEE AURA ENERGY LIMITED
Energy - Overnight Price: $0.13
Petra Capital rates ((AEE)) as Buy (1) -
Petra Capital lowers its target for Aura Energy to 33c from 40c after revising the assumed future equity raise price, despite forecasting additional mine life for the Tiris uranium project in Mauritania.
The broker expects a final investment decision (FID) in the March quarter of 2025.
The September FEED study increases the analyst's Tiris net present value (NPV) by 29% to US$499m by extending the assumed base case life-of-mine (LOM) to 25 years from 17 years, and subsequently LOM production by 44%.
This report was published on September 12, 2024.
Target price is $0.33 Current Price is $0.13 Difference: $0.2
If AEE meets the Petra Capital target it will return approximately 154% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 43.33.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 32.50.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ANZ ANZ GROUP HOLDINGS LIMITED
Banks - Overnight Price: $31.15
Jarden rates ((ANZ)) as Neutral (3) -
Jarden's new order of preference among the major Australian banks is National Australia Bank (Overweight), Westpac and ANZ Bank with Neutral ratings, followed by the Underweight-rated CommBank.
Overall, the broker expects resilient near-term bank earnings and continues to see upside risks to FY25 consensus forecasts, driven by slightly better margins and currently overstated loan loss expectations.
The analysts raise FY25 and FY26 EPS forecasts by around 1-2% across the majors, while 12-month target prices rise modestly.
The target for ANZ Bank rises to $30 from $29.50.
This report was published on September 16, 2024.
Target price is $30.00 Current Price is $31.15 Difference: minus $1.15 (current price is over target).
If ANZ meets the Jarden target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $27.37, suggesting downside of -12.8%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 167.00 cents and EPS of 230.00 cents.
At the last closing share price the estimated dividend yield is 5.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.54.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 224.0, implying annual growth of -5.4%.
Current consensus DPS estimate is 164.8, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 14.0.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 168.00 cents and EPS of 236.00 cents.
At the last closing share price the estimated dividend yield is 5.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 219.9, implying annual growth of -1.8%.
Current consensus DPS estimate is 166.8, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 14.3.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AX1 ACCENT GROUP LIMITED
Apparel & Footwear - Overnight Price: $2.25
Wilsons rates ((AX1)) as Overweight (1) -
Post a field trip, Wilsons is more positive on the strategy to buy out Athletes Foot franchisees as the agreements come up for renewal for Accent Group.
The analyst also points to the strong brand growth in Hoka and believes the company will continue to benefit from the Vertical product which has grown 48% over the last three years (compound rate).
Overweight rating with a $2.55 target price.
This report was published on September 12, 2024.
Target price is $2.55 Current Price is $2.25 Difference: $0.3
If AX1 meets the Wilsons target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $2.48, suggesting upside of 11.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 12.00 cents and EPS of 14.90 cents.
At the last closing share price the estimated dividend yield is 5.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.2, implying annual growth of 33.8%.
Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 15.7.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 15.40 cents and EPS of 19.20 cents.
At the last closing share price the estimated dividend yield is 6.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.72.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.4, implying annual growth of 15.5%.
Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 13.6.
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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