Daily Market Reports | 10:34 AM
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
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ALC ALL CAT COL DEG GTK IFT IMM ING IPH NXL S32 SLC SPZ TYR WGX
ALC ALCIDION GROUP LIMITED
Healthcare services - Overnight Price: $0.06
Canaccord Genuity rates ((ALC)) as Buy (1) -
Alcidion Group recently secured a $4.5m contract with the Northern Adelaide Local Health Network for its Miya Precision and mobile task management tools.
Canaccord Genuity notes the contract spans two years, with the possibility of extension to five years. While the revenue contribution is modest in the near term, the broker believes it supports Alcidion's FY25 revenue target of $36m and the goal of achieving break even EBITDA.
Management remains focused on the timing and scale of new contracts in the UK, particularly with the NHS. Recent signs of progress include several NHS awards for digital transformation projects, although delays in contract appointments and implementation persist across the sector.
No changes have been made to financial forecasts. The broker emphasises the importance of sizable NHS contract wins to boost investor confidence and potentially trigger a significant re-rating of the stock.
Canaccord retains a Buy rating with a target price of 9c.
This report was published on November 14, 2024.
Target price is $0.09 Current Price is $0.06 Difference: $0.032
If ALC meets the Canaccord Genuity target it will return approximately 55% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity 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 19.33.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALL ARISTOCRAT LEISURE LIMITED
Gaming - Overnight Price: $67.83
Jarden rates ((ALL)) as Downgrade to Neutral from Overweight (3) -
Jarden highlights Aristocrat Leisure reported strong FY24 results with NPATA reaching $1.6bn, up 17%, supported by a 12% increase in segment profits and 5% revenue growth.
Gaming operations saw record installations, with margins expanding due to strong product performance. Pixel United delivered 12% profit growth despite flat bookings, benefiting from cost controls. The sale of Plarium and the strategic review of Big Fish reflect the company's focus on higher-margin businesses.
Jarden revised EPS forecasts slightly upwards for FY25-FY27, with the target price raised to $61.00 from $59.00.
The broker remains positive on the company's market position, but downgrades the rating to Neutral from Overweight, due to valuation concerns after recent share price outperformance.
This report was published on November 14, 2024.
Target price is $61.00 Current Price is $67.83 Difference: minus $6.83 (current price is over target).
If ALL meets the Jarden target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $70.75, suggesting upside of 4.3%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 89.00 cents and EPS of 265.00 cents.
At the last closing share price the estimated dividend yield is 1.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 263.8, implying annual growth of 28.8%.
Current consensus DPS estimate is 92.1, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 25.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 94.00 cents and EPS of 281.40 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 24.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 287.5, implying annual growth of 9.0%.
Current consensus DPS estimate is 95.2, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 23.6.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CAT CATAPULT GROUP INTERNATIONAL LIMITED
Medical Equipment & Devices - Overnight Price: $3.07
Canaccord Genuity rates ((CAT)) as Buy (1) -
Canaccord Genuity observes Catapult International's 1H25 results outperformed expectations, with annualised contract value up 20% to US$97m and revenue rising 19% to US$58m, driven by subscription growth and efficient cost management.
EBITDA increased 68% to US$14m, with free cash flow turning positive at US$4m.
Performance and Health recorded 23% growth, while Tactics and Coaching rose 20%. The company's focus on wearables and video products offers a US$75m upside in annual contract values over the next three to five years, the broker highlights
Price target lifts to $3.50 from $2.50, reflecting a strong outlook. Buy rating unchanged.
This report was published on November 14, 2024.
Target price is $3.50 Current Price is $3.07 Difference: $0.43
If CAT meets the Canaccord Genuity target it will return approximately 14% (excluding dividends, fees and charges).
The company's fiscal year ends in March.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 5.88 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 52.21.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 509.12.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
COL COLES GROUP LIMITED
Food, Beverages & Tobacco - Overnight Price: $18.18
Jarden rates ((COL)) as Neutral (3) -
Jarden observes Coles Group's strategy is focusing on simplification, fresh produce, and affordability, supported by tailored ranges, digital innovation, and efficiency improvements targeting -$1bn in savings over four years.
Management's promotional refinements aim to boost sales and margins, with supplier feedback suggesting near-term outperformance over Woolworths.
Jarden retains earnings forecasts, but upside potential exists for FY26 forecasts, driven by cost savings and operational gains.
Neutral rating and $16.90 target price unchanged.
This report was published on November 14, 2024.
Target price is $16.90 Current Price is $18.18 Difference: minus $1.28 (current price is over target).
If COL meets the Jarden target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $19.54, suggesting upside of 7.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 68.00 cents and EPS of 83.40 cents.
At the last closing share price the estimated dividend yield is 3.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 84.3, implying annual growth of 0.6%.
Current consensus DPS estimate is 70.3, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 21.6.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 93.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.38.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 95.5, implying annual growth of 13.3%.
Current consensus DPS estimate is 79.6, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 19.0.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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