Daily Market Reports | Mar 18 2025
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)
ACE ANZ CAR CBA CVN GDG JHX LOT LTR NAB (2) NZK PSC PXA SVR TLX TYR WBC (2)
GDG GENERATION DEVELOPMENT GROUP LIMITED
Wealth Management & Investments - Overnight Price: $4.87
Moelis rates ((GDG)) as Re-instate at Buy (1) -
Moelis has re-instated coverage of Generation Development with a Buy rating and target price of $5.92 following the Evidentia acquisition.
The broker estimates EPS accretion from the Evidentia deal to be 10.7% in FY26. The analyst believes this acquisition, together with Lonsec, would further strengthen the group's market-leading position with combined assets under management of over $25bn.
The broker notes both deals will generate material cash flows, giving potential for reinvestment to help further growth. The broker expects the combined group to grow its market share to 25% by 2030 from 14% currently.
This report was published on March 16, 2025.
Target price is $5.92 Current Price is $4.87 Difference: $1.05
If GDG meets the Moelis target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $5.62, suggesting upside of 15.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 2.00 cents and EPS of 8.40 cents.
At the last closing share price the estimated dividend yield is 0.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 57.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.2, implying annual growth of 176.1%.
Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 59.5.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 4.90 cents and EPS of 12.10 cents.
At the last closing share price the estimated dividend yield is 1.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 40.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.8, implying annual growth of 43.9%.
Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 41.4.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JHX JAMES HARDIE INDUSTRIES PLC
Building Products & Services - Overnight Price: $50.38
Jarden rates ((JHX)) as Downgrade to Neutral from Overweight (3) -
Near-term macro risks, including tariff uncertainties, makes Jarden cautious of James Hardie Industries, prompting a downgrade in rating to Neutral from Overweight.
The broker believes pulp cost inflation from higher tariffs is a key operational risk, along with the increasing risk of a US recession. The broker also sees M&A as a risk, noting the company's deal with Fermacel failed to achieve pre-acquisition forecasts.
The broker has lowered volume growth forecasts and raised input cost estimates, leading to a -2-3% decline in average earnings forecasts.
Target price lowered to $53.50 from $54.00.
This report was published on March 15, 2025.
Target price is $53.50 Current Price is $50.38 Difference: $3.12
If JHX meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $59.71, suggesting upside of 17.2%(ex-dividends)
The company's fiscal year ends in March.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 228.72 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.03.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 253.5, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.1.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 241.58 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.85.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 283.0, implying annual growth of 11.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 18.0.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LOT LOTUS RESOURCES LIMITED
Uranium - Overnight Price: $0.17
Canaccord Genuity rates ((LOT)) as Speculative Buy (1) -
Lotus Resources signed another offtake agreement for the Kayelekera restart project in Malawi with a large North American power utility for 0.6Mlbs covering the period 2026-29.
The company reiterated the Q32025 timeline for the first production and 2026 for first sales.
Canaccord Genuity notes the price is fixed based on published long-term prices (currently US$80/lb) and offers limited upside potential, given its own long-term price forecast is US$90/lb.
However, the cash margin would still be healthy given the production cost of US$44.8/lb. Target price of 34c and Speculative Buy rating remains.
This report was published on March 17, 2025.
Target price is $0.34 Current Price is $0.17 Difference: $0.165
If LOT meets the Canaccord Genuity target it will return approximately 94% (excluding dividends, fees and charges).
Current consensus price target is $0.49, suggesting upside of 186.8%(ex-dividends)
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 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 35.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.4, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 35.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1.0, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 17.0.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE
If you already had your free trial, why not join as a paying subscriber? CLICK HERE