Australian Broker Call *Extra* Edition – Apr 03, 2025

This story features AUSSIE BROADBAND LIMITED, and other companies. For more info SHARE ANALYSIS: ABB

The company is included in ASX300 and ALL-ORDS

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)

ABB   ADT   AEL   AIA   BOE   BOQ   GTK   LGI   MEK   MM8 (2)   MP1   PLT   SPZ   SXE  

ABB    AUSSIE BROADBAND LIMITED

Telecommunication – Overnight Price: $3.95

Jarden rates ((ABB)) as Overweight (2) –

Jarden is looking forward to Aussie Broadband’s investor day on April 10 for management’s FY28 and beyond outlook.

The broker will focus on the business, enterprise and government segment commentary as it sees potential for material upside risk. The analyst will specifically look for plans for on-net penetration and framework to get a better idea of return on incremental capex.

No change to forecasts. Overweight. Target unchanged at $4.35.

This report was published on April 1, 2025.

Target price is $4.35 Current Price is $3.95 Difference: $0.4
If ABB meets the Jarden target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $4.70, suggesting upside of 18.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 8.00 cents and EPS of 16.90 cents.
At the last closing share price the estimated dividend yield is 2.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.7, implying annual growth of 40.7%.
Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 28.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.00 cents and EPS of 26.10 cents.
At the last closing share price the estimated dividend yield is 3.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.3, implying annual growth of 40.9%.
Current consensus DPS estimate is 7.3, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 20.5.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ADT    ADRIATIC METALS PLC

Gold & Silver – Overnight Price: $4.25

Canaccord Genuity rates ((ADT)) as Speculative Buy (1) –

Canaccord Genuity notes the production at Adriatic Metals’ Vares Silver Mine in Bosnia is progressing well but falling short of the 75% nameplate required to declare commercial production.

The broker estimates the March quarter production was 68kt vs the 150kt requirement, and as a result, it now expects commercial production to begin in the June quarter. The mining rate of 67kt in the March quarter was also well below the broker’s 100kt forecast.

All this means the company’s guidance for 1H25 milled tonnes of 250-275kt is at risk, the broker highlights.

Speculative Buy with target of $4.75.

This report was published on March 31, 2025.

Target price is $4.75 Current Price is $4.25 Difference: $0.5
If ADT meets the Canaccord Genuity target it will return approximately 12% (excluding dividends, fees and charges).

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AEL    AMPLITUDE ENERGY LIMITED

Crude Oil – Overnight Price: $0.19

Jarden rates ((AEL)) as Overweight (2) –

Jarden notes a cost blow-out of more than 100% at the Minerva gas field, but the impact on Amplitude Energy is less pronounced as its interest is only 10%. In dollar terms, the company’s share of cost overrun is -$24m.

The company will spread this over FY25 and FY26, and the broker highlights this reduces the valuation by -1c to 26c. 

Target price cut to 26c from 27c. Overweight retained.

This report was published on March 31, 2025.

Target price is $0.26 Current Price is $0.19 Difference: $0.07
If AEL meets the Jarden target it will return approximately 37% (excluding dividends, fees and charges).
Current consensus price target is $0.26, suggesting upside of 38.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 47.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.8, 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 23.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.18.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.2, implying annual growth of 175.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.6.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AIA    AUCKLAND INTERNATIONAL AIRPORT LIMITED

Infrastructure & Utilities – Overnight Price: $7.19

Jarden rates ((AIA)) as Neutral (3) –

New Zealand’s Commerce Commission declared Auckland International Airport’s targeted return of 8.73% was too high, prompting the airport to cut FY26-27 prices by -11%.

Jarden believes the airport’s total return will be -0.43% lower than that due to lower volumes and higher opex, partly offset by delayed capex.

The broker cut FY26-27 net profit forecasts by -5% and -10%, respectively, after factoring in a -11% reduction in aeronautical pricing and other changes based on the regulatory review.

Target price drops to NZ$7.95 from NZ$8.00. Neutral maintained.

This report was published on April 1, 2025.

Current Price is $7.19. Target price not assessed.
Current consensus price target is N/A
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 12.11 cents and EPS of 17.29 cents.
At the last closing share price the estimated dividend yield is 1.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.5, implying annual growth of N/A.
Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 41.1.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.74 cents and EPS of 18.02 cents.
At the last closing share price the estimated dividend yield is 1.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.6, implying annual growth of 0.6%.
Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 40.9.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BOE    BOSS ENERGY LIMITED

Uranium – Overnight Price: $2.30

Canaccord Genuity rates ((BOE)) as Speculative Buy (1) –

Following a site visit to Boss Energy’s Honeymoon mine, Canaccord Genuity has maintained its FY25 production guidance of 900Klbs, which is 6% higher than consensus.

The broker’s confidence was reinforced following the company’s update of 295Klbs production for 3Q25 and higher realised grades in 2Q. The broker notes the company has now resolved issues with production technology and could more than surpass the 3Q rate.

Speculative Buy. Target unchanged at $5.35.

This report was published on March 31, 2025.

Target price is $5.35 Current Price is $2.30 Difference: $3.05
If BOE meets the Canaccord Genuity target it will return approximately 133% (excluding dividends, fees and charges).
Current consensus price target is $3.86, suggesting upside of 67.7%(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 2.45 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 93.76.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.2, implying annual growth of -72.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 71.9.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 28.82 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.98.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.9, implying annual growth of 740.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.6.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BOQ    BANK OF QUEENSLAND LIMITED

Banks – Overnight Price: $6.85

Jarden rates ((BOQ)) as Neutral (3) –

Jarden notes the latest data from the RBA showed credit growth remain solid at 6.5% y/y, and near-term catalysts for banks are the upcoming federal elections and the RBA’s interest rate decisions.

Rating for Bank of Queensland retained at Neutral. Target $6.50.

This report was published on March 31, 2025.

Target price is $6.50 Current Price is $6.85 Difference: minus $0.35 (current price is over target).
If BOQ meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.08, suggesting downside of -11.2%(ex-dividends)
The company’s fiscal year ends in August.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 35.00 cents and EPS of 49.00 cents.
At the last closing share price the estimated dividend yield is 5.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.98.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.9, implying annual growth of 17.4%.
Current consensus DPS estimate is 35.0, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 13.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 39.00 cents and EPS of 54.00 cents.
At the last closing share price the estimated dividend yield is 5.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 57.8, implying annual growth of 13.6%.
Current consensus DPS estimate is 38.0, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 11.9.

Market Sentiment: -0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

GTK    GENTRACK GROUP LIMITED

Software & Services – Overnight Price: $9.92

Jarden rates ((GTK)) as Underweight (4) –

Based on Gentrack Group’s job advertisements in Bulgaria, Jarden concludes the company is targeting a big customer and the job ads are aimed at demonstrating the capacity to execute large contracts.

The analyst believes the client might be connected with the Bulgarian electricity market that is being liberalised. As a scenario, the broker estimates 4 million meter points on full stack would work out to NZ$40m annual recurring revenue or a 30% rise to the company’s FY24 utilities ARR.

The broker’s forecasts incorporate contract wins, but a large customer would open doors for additional customers in new markets.

No change to forecasts as the broker awaits the 1H25 results on May 19.

Underweight. Target unchanged at NZ$7.65.

This report was published on March 31, 2025.

Current Price is $9.92. Target price not assessed.
Current consensus price target is $12.93, suggesting upside of 30.4%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 18.57 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.6, 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 59.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 28.03 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.39.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.5, implying annual growth of 53.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 38.9.

This company reports in NZD. 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

LGI    LGI LIMITED

Overnight Price: $2.98

Canaccord Genuity rates ((LGI)) as Initiation of coverage with Buy (1) –

Canaccord Genuity has initiated coverage on LGI with a Buy rating and a target price of $3.50.

The broker notes the company’s development pipeline of 32MW capacity would significantly boost electricity generation. The broker sees scope for further pipeline growth in greenfield and brownfield opportunities.

The broker forecasts installed capacity rising to 47MW by FY30 from 15MW in FY24 which would drive electricity generation to 244GWh from 96GWh in FY24. Revenue is estimated to grow to $74m by FY30 from $33m in FY24.

The analyst is forecasting FY25 EBITDA of $17.1m which is in line with the company’s guidance range.

This report was published on March 31, 2025.

Target price is $3.50 Current Price is $2.98 Difference: $0.52
If LGI meets the Canaccord Genuity target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $3.47, suggesting upside of 16.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 EPS of 7.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.9, implying annual growth of 17.9%.
Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 33.5.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 10.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.5, implying annual growth of 29.2%.
Current consensus DPS estimate is 3.0, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 25.9.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MEK    MEEKA METALS LIMITED

Gold & Silver – Overnight Price: $0.15

Petra Capital rates ((MEK)) as Buy (1) –

Petra Capital highlights Meeka Metals’ latest update confirms work on the Murchison Gold Project is on track for first production in mid-2025.

The broker’s forecast is for 46koz gold production in the first year (FY26), rising to 61koz in FY27 on expectation of higher grade underground feed.

Buy, with target price of 19c. On spot gold price, the target would be 36c, the broker notes.

This report was published on April 1, 2025.

Target price is $0.19 Current Price is $0.15 Difference: $0.04
If MEK meets the Petra Capital target it will return approximately 27% (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 50.00.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.57.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MM8    MEDALLION METAL LIMITED

Gold & Silver – Overnight Price: $0.27

Canaccord Genuity rates ((MM8)) as Initiation of coverage with Speculative Buy (1) –

Canaccord Genuity has initiated coverage on Medallion Metals with a Speculative Buy rating and target price of 55c.

The broker believes the proposed acquisition of IGO Ltd’s ((IGO)) Forrestania infrastructure presents a solid opportunity to achieve a faster production pathway and cash flow at low capital.

The broker’s base case is a 500ktpa operation and doesn’t factor in the upside production potential to 600ktpa and other brownfield opportunities from the Forrestania acquisition.

Capex assumption is -$75m with 50:50 blend of equity and debt financing, with the broker noting the company has already received offtake and development financing proposals.

Upcoming catalysts include drill results from KMC and Trilogy, and binding Forrestania terms in May.

This report was published on March 31, 2025.

Target price is $0.55 Current Price is $0.27 Difference: $0.28
If MM8 meets the Canaccord Genuity target it will return approximately 104% (excluding dividends, fees and charges).

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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Petra Capital rates ((MM8)) as Buy (1) –

Medallion Metals reported exceptional results from a drilling target at the Kundip Mining Centre, which further increases the company’s gold production opportunity.

Petra Capital notes the mine’s near-term gold development potential (early 2027) will provide significant benefits to the company.

Resource update is expected in June, leading to BFS with completion targeted in October.

Buy. Target unchanged at 31c.

This report was published on April 1, 2025.

Target price is $0.31 Current Price is $0.27 Difference: $0.04
If MM8 meets the Petra Capital target it will return approximately 15% (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 0.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 33.75.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 24.55.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MP1    MEGAPORT LIMITED

Cloud services – Overnight Price: $10.21

Jarden rates ((MP1)) as Initiation of coverage with Overweight (2) –

Jarden has initiated coverage of Megaport with an Overweight rating and target price of $10.67.

Jarden highlights the company’s growth outlook is improving, with both net revenue retention and annual recurring revenue re-accelerating as the company benefits from a revised strategy under the new CEO.

The company is hiring sales and customer service teams, and the broker notes its reputation for recruiting top sales staff, which is an upside risk.

The broker expects the company to increase market share based on its niche value proposition, even in a highly competitive market. The broker is also forecasting gross margin expansion on optimism the company can successfully manage pricing pressures.

The analyst values Megaport using a DCF-based valuation, rolled forward one year.

This report was published on March 31, 2025.

Target price is $10.67 Current Price is $10.21 Difference: $0.46
If MP1 meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $11.22, suggesting upside of 9.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 14.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 68.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.2, implying annual growth of 102.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 83.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 62.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.6, implying annual growth of 52.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 54.9.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PLT    PLENTI GROUP LIMITED

Business & Consumer Credit – Overnight Price: $0.81

Wilsons rates ((PLT)) as Overweight (1) –

Wilsons points to three short-term catalysts for Plenti Group, with the key one being the start of the phase 3 partnership with National Australia Bank ((NAB)) for auto loans.

In this phase, the loans will be marketed to non-NAB customers, and the broker expects this will lift quarterly auto originations. Other catalysts include rate cut prospects and higher operating leverage as the loan book expands.

The broker expects the company’s cost-to-income ratio to drop to 22% in FY26 from 34% in FY23. 

The analyst updated numbers to reflect the 1H25 and 3Q result, and made some downward revisions to FY26-27 origination forecasts. Target drops to $1.46 from $1.50. Overweight maintained.

The coverage is now transferred to Lachlan Woods.

This report was published on April 1, 2025.

Target price is $1.46 Current Price is $0.81 Difference: $0.65
If PLT meets the Wilsons target it will return approximately 80% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 50.63.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 3.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 24.55.

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: $0.79

Petra Capital rates ((SPZ)) as Buy (1) –

Petra Capital underlines the benefits of Smart Parking’s acquisition of Peak Parking after noting the stock’s underperformance since the capital raise and entitlement issue.

The broker sees revenue benefits from the company moving to Automated Number Plate Recognition at current sites and existing Peak Parking sites.

The broker also notes the multiple paid for Peak Parking is more consistent with 7.4x EV/EBITDA  for 2025, rather than 8.0x as the company saved on startup expenses by not opting for greenfield expansion.

Buy. Target unchanged at $1.63.

This report was published on April 1, 2025.

Target price is $1.63 Current Price is $0.79 Difference: $0.845
If SPZ meets the Petra Capital target it will return approximately 108% (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 2.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.71.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.15.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SXE    SOUTHERN CROSS ELECTRICAL ENGINEERING LIMITED

Mining Sector Contracting – Overnight Price: $1.78

Moelis rates ((SXE)) as Buy (1) –

Moelis has raised FY26-27 EBITDA and EPS forecasts for Southern Cross Electrical Engineering following its acquisition of Force Fire Holdings.

The purchase price is up to -$53.5m, made up of -$36.3m cash payment now and deferred and contingent payments later.

The company expects at least 18% EPS accretion on a FY25 proforma basis and the broker has mirrored this with an 18% lift in FY26 and FY27 EPS forecasts.

EBITDA forecast for FY26 was raised by 17% and for FY27 by 18%. Buy retained. Target rises to $2.20 from $2.10.

This report was published on March 31, 2025.

Target price is $2.20 Current Price is $1.78 Difference: $0.42
If SXE meets the Moelis target it will return approximately 24% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 7.50 cents and EPS of 12.30 cents.
At the last closing share price the estimated dividend yield is 4.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.47.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 7.50 cents and EPS of 15.50 cents.
At the last closing share price the estimated dividend yield is 4.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.48.

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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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.

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