Daily Market Reports | Apr 01 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)
AUE AYA BMN HSN OPT ORA RWC STK SVL TRE WBC WES
TRE TOUBANI RESOURCES LIMITED REGISTERED
Gold & Silver - Overnight Price: $0.24
Canaccord Genuity rates ((TRE)) as Speculative Buy (1) -
Canaccord Genuity notes Toubani Resources' agreement with the government of Mali to develop the Kobada Gold Project under the 2023 mining code was done with better terms than its modelled scenario.
The company is targeting a final investment decision in late 2025.
Speculative Buy retained. Target price $1.40.
This report was published on March 31, 2025.
Target price is $1.40 Current Price is $0.24 Difference: $1.16
If TRE meets the Canaccord Genuity target it will return approximately 483% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WBC WESTPAC BANKING CORPORATION
Banks - Overnight Price: $31.57
Jarden rates ((WBC)) as Underweight (4) -
Jarden notes the update on Westpac's Unite overhaul project, highlighting there was no change in scope but deposit ledger consolidation is not costed.
The broker expects the project to cost more than budgeted and take longer to implement.
The analyst lifted the FY25 EPS forecast by 1.0% mainly due to lower bad debts but cut the FY26 forecast by -2.2% on higher operating expenses.
Target reduced to $31.00 from $31.20. Underweight retained.
This report was published on March 28, 2025.
Target price is $31.00 Current Price is $31.57 Difference: minus $0.57 (current price is over target).
If WBC meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $29.07, suggesting downside of -7.4%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 168.00 cents and EPS of 200.40 cents.
At the last closing share price the estimated dividend yield is 5.32%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 199.0, implying annual growth of -0.9%.
Current consensus DPS estimate is 155.4, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 156.00 cents and EPS of 199.00 cents.
At the last closing share price the estimated dividend yield is 4.94%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 198.8, implying annual growth of -0.1%.
Current consensus DPS estimate is 156.6, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.8.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WES WESFARMERS LIMITED
Consumer Products & Services - Overnight Price: $72.01
Goldman Sachs rates ((WES)) as Buy (1) -
Following Bunnings' Strategy Day in Melbourne, Goldman Sachs is more confident about the retailer's ability to increase market share and manage product ranges to boost sales and profits.
The broker notes the retailer is focused on new product launches but with an eye on maximising space usage.
There is also an emphasis on exclusive product ranges and pack sizes, and more push towards commercial sales by providing additional services.
Digital and technology are also the retailer's key focus. Target price unchanged at $80.40. Buy retained.
This report was published on March 27, 2025.
Target price is $80.40 Current Price is $72.01 Difference: $8.39
If WES meets the Goldman Sachs target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $70.29, suggesting downside of -3.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 200.00 cents and EPS of 231.00 cents.
At the last closing share price the estimated dividend yield is 2.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 238.3, implying annual growth of 5.6%.
Current consensus DPS estimate is 202.2, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 30.5.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 227.00 cents and EPS of 259.00 cents.
At the last closing share price the estimated dividend yield is 3.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 265.0, implying annual growth of 11.2%.
Current consensus DPS estimate is 228.0, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 27.4.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.
This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.
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