Weekly Reports | Apr 17 2025
This story features AMPLITUDE ENERGY LIMITED, and other companies. For more info SHARE ANALYSIS: AEL
The company is included in ASX300 and ALL-ORDS
Broker Rating Changes (Post Thursday Last Week)
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AMPLITUDE ENERGY LIMITED ((AEL)) Upgrade to Buy from Overweight by Jarden.B/H/S: 0/0/0
Jarden cut the forecast for Brent oil price for the remainder of 2025 and for 2026-27 to US$65/bbl from US$75/bbl. The broker also revised the AUD/USD forecast to 0.62 from 0.64 from April.
While OPEC-plus members would desire to keep oil prices near US$80/bbl, the broker believes that given oil markets’ tendency to react negatively and quickly to any growth uncertainties, prices are likely to stay low.
The broker notes Amplitude Energy’s March quarter gas prediction was -9% lower quarter-on-quarter, and will now look for FY25 production, costs and capex update in the quarterly release,
EPS forecast for FY25 trimmed to 3c from 4c, and for FY26 to $1.20 from $1.70 on lower oil prices and contracted gas prices.
Rating upgraded to Buy from Overweight. Target cut to 25c from 26c.
CAPRICORN METALS LIMITED ((CMM)) Upgrade to Buy from Hold by Canaccord Genuity.B/H/S: 0/0/0
Canaccord Genuity revised forecasts for precious metals prices, and provided estimates for production and costs ahead of the March quarter update.
The broker lifted gold price forecasts in USD for the March quarter by 7.7% and around 10-12% each year until 2028, with the long-term price raised by 11.5%.
The AUD/USD forecasts were lowered until 2027, and left unchanged after that. This resulted in a bigger lift in gold price in AUD terms until 2027, with the forecasts thereafter in line with increases in USD price.
Silver prices were raised for the March quarter in USD terms but lowered for the rest of the forecast period, resulting in an increase in AUD terms until 2026, but lower from 2028.
For Capricorn Metals, the broker is forecasting a March quarter production of 31koz vs a consensus of 30koz. The forecast for costs is $1,408/oz vs consensus of $1,446.
Rating upgraded to Buy from Hold. Target price rises to $10.60 from $8.70.
FORTESCUE LIMITED ((FMG)) Upgrade to Neutral from Sell by Goldman Sachs.B/H/S: 0/0/0
A recent China trip and a review of supply/dynamics due to the impact of global tariffs have resulted in Goldman Sachs downgrading most commodity price forecasts while raising estimates for precious metals.
This resulted in downgrades to 2025 and 2026 earnings (EBITDA) and price targets for most companies under their coverage.
In addition to revisions to commodity prices, the broker cut the forecast for Fortescue’s March quarter Pilbara iron ore shipments and pushed back Pilbara decarbonisation capex by six months. The broker also reduced Iron Bridge price realisations in the near term.
Rating upgraded to Neutral from Sell. Target cut to $15.30 from $16.20.
INFRATIL LIMITED ((IFT)) Upgrade to Buy from Overweight by Jarden.B/H/S: 0/0/0
Jarden notes CDC hosted an investor briefing, including a tour of the new Brooklyn campus in Melbourne.
The analyst notes capacity remains on track to double, with build-on completion of an additional 382MW under construction to reach 700MW in the next 1218 months. The earnings (EBITDA) run rate is anticipated to double over the next two years, with 80% already contracted.
Jarden emphasises CDC has a robust moat, and its data centres can service 3 tonnes per rack and over 200kW per rack, which is above other providers.
The broker values CDC based on Commonwealth Super’s 12.04% stake auction price as a third-party valuation, which infers upside of around 10%20% control premium could be added if Infratil sold its stake.
Jarden retains Infratil’s target price at NZ$13. Rating upgraded to Buy from Overweight.
MINERAL RESOURCES LIMITED ((MIN)) Upgrade to Underweight from Sell by Jarden.B/H/S: 0/0/0
Jarden expects Mineral Resources to downgrade FY25 guidance and in anticipation, lowered forecasts for shipment volumes and mining services.
Trucking haulage is the key issue, and the broker would like more disclosure on the underlying cause of truck rollovers, truck speeds etc.
March and June quarter forecasts have been downgraded, and the broker’s revised FY25 shipment forecast is -11% below the lower bound of the company’s guidance.
The analyst considers scenarios of Onslow proving to be a lower 25mtpa or 30mpta project. In the first scenario, the broker sees valuation fall to $13.30/share and in the second to $9.70/share. For now, the broker is maintaining an estimate for 30mt production in FY26, but sees risks skewed to the downside.
Target price cut to $16.20 from $20.00. Rating upgraded to Underweight from Sell.
See also MIN downgrade.
NETWEALTH GROUP LIMITED ((NWL)) Upgrade to Neutral from Underweight by Jarden.B/H/S: 0/0/0
Jarden notes Netwealth Group’s 3Q25 custodial net flow of $3.454bn was in line with consensus, but funds under administration of $103.3bn came in -1.5% below consensus.
The wealth manager remains confident of the flow outlook and the broker has incorporated it in the forecasts, increasing the revenue margin forecast by 40bps on higher transaction fees and higher cash balances
However, the company also flagged higher costs ahead which, together with a subdued market outlook, resulted in a 0.4% rise to the FY25 EPS forecast but -4.4% fall to FY26.
Rating upgraded to Neutral from Underweight. Target cut to $24.30 from $24.95.
SANDFIRE RESOURCES LIMITED ((SFR)) Upgrade to Buy from Neutral by Goldman Sachs.B/H/S: 0/0/0
A recent China trip and a review of supply/dynamics due to the impact of global tariffs have resulted in Goldman Sachs downgrading most commodity price forecasts while raising estimates for precious metals.
This resulted in downgrades to 2025 and 2026 EBITDA and price targets for most companies under their coverage.
For Sandfire Resources, the broker cut Matsa production forecast for March quarter, lifted long-run gold price estimates and cut medium-term copper, zinc and lead price forecasts.
FY25-26 earnings (EBITDA) forecasts cut by -2% and -12%, respectively.
Rating upgraded to Buy from Neutral. Target cut to $10.20 from $10.40.
Downgrade
BEACH ENERGY LIMITED ((BPT)) Downgrade to Underweight from Neutral by Jarden.B/H/S: 0/0/0
Jarden cut the forecast for Brent oil price for the remainder of 2025 and for 2026-27 to US$65/bbl from US$75/bbl. The broker also revised the AUD/USD forecast to 0.62 from 0.64 from April.
While OPEC-plus members would desire to keep oil prices near US$80/bbl, the broker believes that given oil markets’ tendency to react negatively and quickly to any growth uncertainties, prices are likely to stay low.
For the March quarter, the analyst forecasts Beach Energy to report a -4% decline in production on expectations of lower Cooper Basin oil and gas production. The broker will look for updates to FY25 guidance and cost.
EPS forecast for FY25 cut by -6.2% and by -19.2% for FY26 largely due to lower oil price forecasts.
Rating downgraded to Underweight from Neutral. Target cut to $1.19 from $1.38.
CORONADO GLOBAL RESOURCES INC ((CRN)) Downgrade to Neutral from Buy by Goldman Sachs.B/H/S: 0/0/0
A recent China trip and a review of supply/dynamics due to the impact of global tariffs have resulted in Goldman Sachs downgrading most commodity price forecasts while raising estimates for precious metals.
This resulted in downgrades to 2025 and 2026 EBITDA and price targets for most companies under their coverage.
In addition to revisions to commodity prices, the broker increased costs at Coronado Global Resources’ US operations.
Rating downgraded to Neutral from Buy due to forecast for negative free cash flow of -US$200m in 2025. Target cut to $0.35 from $1.05.
DETERRA ROYALTIES LIMITED ((DRR)) Downgrade to Neutral from Buy by Goldman Sachs.B/H/S: 0/0/0
A recent China trip and a review of supply/dynamics due to the impact of global tariffs have resulted in Goldman Sachs downgrading most commodity price forecasts while raising estimates for precious metals.
This resulted in downgrades to 2025 and 2026 EBITDA and price targets for most companies under their coverage.
In addition to revisions to commodity prices, the broker increased freight cost estimates for Deterra Royalties. EBITDA forecast for FY25 lifted by 1% but cut by -2% for FY26.
Rating downgraded to Neutral from Buy. Target cut to $3.60 from $4.70.
KAROON ENERGY LIMITED ((KAR)) Downgrade to Overweight from Buy by Jarden.B/H/S: 0/0/0
Jarden cut the forecast for Brent oil price for the remainder of 2025 and for 2026-27 to US$65/bbl from US$75/bbl. The broker also revised the AUD/USD forecast to 0.62 from 0.64 from April.
While OPEC-plus members would desire to keep oil prices near US$80/bbl, the broker believes that given oil markets’ tendency to react negatively and quickly to any growth uncertainties, prices are likely to stay low.
For the March quarter, the analyst expects Karoon Energy to report a -11% q/q decline in production to 2.3mmboe due to the impact of scheduled maintenance in Brazil. Sales revenue is forecast to be -33% down q/q due to lower cargoes sold.
EPS forecast for FY25 cut by -8.2% and by -14.3% for FY26 largely due to lower oil price forecasts.
Rating downgraded to Overweight from Buy. Target cut to $1.53 from $2.05.
MINERAL RESOURCES LIMITED ((MIN)) Downgrade to Sell from Neutral by Goldman Sachs.B/H/S: 0/0/0
A recent China trip and a review of supply/dynamics due to the impact of global tariffs have resulted in Goldman Sachs downgrading most commodity price forecasts while raising estimates for precious metals.
This resulted in downgrades to 2025 and 2026 EBITDA and price targets for most companies under their coverage.
In addition to revisions to commodity prices, the broker lowered Mineral Resources’ Ashburton and Iron Valley iron ore shipment forecasts for the March quarter. The broker is also forecasting slower Ashburton ramp-up and increased C&M capex.
Earnings (EBITDA) forecasts for FY25-26 cut by -9% and -20%, respectively.
Rating downgraded to Sell from Neutral. Target cut to $18 from $30.
See also MIN upgrade.
WHITEHAVEN COAL LIMITED ((WHC)) Downgrade to Neutral from Buy by Goldman Sachs.B/H/S: 0/0/0
A recent China trip and a review of supply/dynamics due to the impact of global tariffs have resulted in Goldman Sachs downgrading most commodity price forecasts while raising estimates for precious metals.
This resulted in downgrades to 2025 and 2026 EBITDA and price targets for most companies under their coverage.
In addition to revisions to commodity prices, the broker included 30% sale of Blackwater for US$1.08bn into Whitehaven Coal’s forecasts. EBITDA forecasts for FY25-26 lowered by -28% and -58%, respectively.
Rating downgraded to Neutral from Buy. Target cut to $5.70 from $9.20.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Upgrade | |||||
| 1 | AMPLITUDE ENERGY LIMITED | Buy | Buy | Jarden | |
| 2 | CAPRICORN METALS LIMITED | Buy | Neutral | Canaccord Genuity | |
| 3 | FORTESCUE LIMITED | Neutral | Sell | Goldman Sachs | |
| 4 | INFRATIL LIMITED | Buy | Buy | Jarden | |
| 5 | MINERAL RESOURCES LIMITED | Sell | Sell | Jarden | |
| 6 | NETWEALTH GROUP LIMITED | Neutral | Sell | Jarden | |
| 7 | SANDFIRE RESOURCES LIMITED | Buy | Neutral | Goldman Sachs | |
| Downgrade | |||||
| 8 | BEACH ENERGY LIMITED | Sell | Neutral | Jarden | |
| 9 | CORONADO GLOBAL RESOURCES INC | Neutral | Buy | Goldman Sachs | |
| 10 | DETERRA ROYALTIES LIMITED | Neutral | Buy | Goldman Sachs | |
| 11 | KAROON ENERGY LIMITED | Buy | Buy | Jarden | |
| 12 | MINERAL RESOURCES LIMITED | Sell | Neutral | Goldman Sachs | |
| 13 | WHITEHAVEN COAL LIMITED | Neutral | Buy | Goldman Sachs | |
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| AAR | Astral Resources | $0.18 | Canaccord Genuity | 0.49 | 0.41 | 19.51% |
| ABB | Aussie Broadband | $3.87 | Wilsons | 5.16 | 5.08 | 1.57% |
| ADT | Adriatic Metals | $4.21 | Canaccord Genuity | 4.50 | 4.30 | 4.65% |
| AEL | Amplitude Energy | $0.18 | Jarden | 0.25 | 0.26 | -3.85% |
| AIM | Ai-Media Technologies | $0.74 | Petra Capital | 1.35 | 1.26 | 7.14% |
| ASL | Andean Silver | $0.97 | Canaccord Genuity | 3.05 | 2.85 | 7.02% |
| AZY | Antipa Minerals | $0.53 | Canaccord Genuity | 1.04 | 0.95 | 9.47% |
| BGL | Bellevue Gold | $1.02 | Canaccord Genuity | N/A | 2.20 | -100.00% |
| Moelis | 0.85 | 1.20 | -29.17% | |||
| BHP | BHP Group | $36.38 | Goldman Sachs | 45.10 | 47.30 | -4.65% |
| Goldman Sachs | 45.10 | 47.40 | -4.85% | |||
| BKT | Black Rock Mining | $0.02 | Petra Capital | 0.11 | 0.21 | -47.62% |
| BPT | Beach Energy | $1.16 | Jarden | 1.19 | 1.38 | -13.77% |
| BTR | Brightstar Resources | $0.02 | Canaccord Genuity | 0.08 | 0.06 | 33.33% |
| BXB | Brambles | $20.67 | Goldman Sachs | 18.35 | 18.50 | -0.81% |
| CDA | Codan | $14.65 | Goldman Sachs | 18.50 | 18.00 | 2.78% |
| CIA | Champion Iron | $4.15 | Goldman Sachs | 5.90 | 7.60 | -22.37% |
| CMM | Capricorn Metals | $10.01 | Canaccord Genuity | 10.60 | 8.70 | 21.84% |
| CNB | Carnaby Resources | $0.27 | Petra Capital | 1.27 | 1.26 | 0.79% |
| COH | Cochlear | $257.11 | Goldman Sachs | 282.50 | 294.90 | -4.20% |
| CRN | Coronado Global Resources | $0.23 | Goldman Sachs | 0.35 | 1.05 | -66.67% |
| CSL | CSL | $239.75 | Goldman Sachs | 307.20 | 325.40 | -5.59% |
| CVN | Carnarvon Energy | $0.11 | Jarden | 0.15 | 0.16 | -6.25% |
| CXO | Core Lithium | $0.07 | Goldman Sachs | 0.08 | 0.09 | -11.11% |
| CYL | Catalyst Metals | $6.60 | Canaccord Genuity | 6.10 | N/A | N/A |
| Taylor Collison | 4.52 | 2.61 | 73.18% | |||
| DEG | De Grey Mining | $2.67 | Canaccord Genuity | 3.80 | 2.90 | 31.03% |
| DGT | Digico Infrastructure REIT | $2.52 | Goldman Sachs | 4.40 | 5.80 | -24.14% |
| DNL | Dyno Nobel | $2.23 | Goldman Sachs | 3.10 | 3.35 | -7.46% |
| DRR | Deterra Royalties | $3.43 | Goldman Sachs | 3.60 | 4.70 | -23.40% |
| DYL | Deep Yellow | $0.92 | Canaccord Genuity | 1.61 | 1.83 | -12.02% |
| EMR | Emerald Resources | $4.30 | Canaccord Genuity | 5.95 | 5.25 | 13.33% |
| EVN | Evolution Mining | $8.43 | Canaccord Genuity | 7.25 | 6.15 | 17.89% |
| FMG | Fortescue | $14.96 | Goldman Sachs | 15.30 | 16.20 | -5.56% |
| FPH | Fisher & Paykel Healthcare | $31.16 | Goldman Sachs | 42.10 | 24.00 | 75.42% |
| GMD | Genesis Minerals | $4.40 | Canaccord Genuity | 5.10 | 4.15 | 22.89% |
| GOR | Gold Road Resources | $3.26 | Canaccord Genuity | 3.35 | 2.75 | 21.82% |
| Moelis | 3.20 | 2.65 | 20.75% | |||
| GQG | GQG Partners | $2.03 | Goldman Sachs | 3.00 | 3.20 | -6.25% |
| Jarden | 3.10 | 3.05 | 1.64% | |||
| HLS | Healius | $1.35 | Goldman Sachs | 1.20 | 1.40 | -14.29% |
| IGO | IGO Ltd | $3.47 | Goldman Sachs | 4.60 | 5.30 | -13.21% |
| ILU | Iluka Resources | $3.62 | Goldman Sachs | 6.60 | 7.00 | -5.71% |
| KAR | Karoon Energy | $1.31 | Jarden | 1.53 | 2.05 | -25.37% |
| KCN | Kingsgate Consolidated | $1.69 | Canaccord Genuity | 4.00 | 3.35 | 19.40% |
| LOT | Lotus Resources | $0.16 | Petra Capital | 0.30 | 0.28 | 7.14% |
| LTR | Liontown Resources | $0.51 | Goldman Sachs | 0.64 | 0.69 | -7.25% |
| LYC | Lynas Rare Earths | $8.62 | Goldman Sachs | 7.10 | 7.00 | 1.43% |
| MAQ | Macquarie Technology | $58.80 | Goldman Sachs | 71.00 | 80.00 | -11.25% |
| MIN | Mineral Resources | $16.94 | Goldman Sachs | 18.00 | 30.00 | -40.00% |
| Jarden | 16.20 | 20.00 | -19.00% | |||
| MM8 | Medallion Metal | $0.25 | Canaccord Genuity | 0.65 | 0.55 | 18.18% |
| NHC | New Hope | $3.59 | Goldman Sachs | 2.90 | 4.30 | -32.56% |
| NST | Northern Star Resources | $22.47 | Canaccord Genuity | 27.75 | 22.85 | 21.44% |
| NWL | Netwealth Group | $25.53 | Canaccord Genuity | 31.60 | 31.20 | 1.28% |
| Jarden | 24.30 | 24.95 | -2.61% | |||
| Wilsons | 27.66 | 25.12 | 10.11% | |||
| NXT | NextDC | $11.06 | Goldman Sachs | 14.70 | 17.10 | -14.04% |
| OBM | Ora Banda Mining | $1.17 | Canaccord Genuity | 1.20 | 1.05 | 14.29% |
| ORG | Origin Energy | $10.21 | Jarden | 10.00 | 10.30 | -2.91% |
| PDI | Predictive Discovery | $0.39 | Canaccord Genuity | 0.56 | 0.52 | 7.69% |
| PLS | Pilbara Minerals | $1.35 | Goldman Sachs | 1.75 | 2.05 | -14.63% |
| PNR | Pantoro | $2.85 | Canaccord Genuity | 3.91 | 0.19 | 1957.89% |
| Moelis | 3.16 | 0.15 | 2006.67% | |||
| PRU | Perseus Mining | $3.52 | Canaccord Genuity | 5.00 | 4.00 | 25.00% |
| PYC | PYC Therapeutics | $1.00 | Wilsons | 3.00 | 3.90 | -23.08% |
| QBE | QBE Insurance | $21.18 | Goldman Sachs | 25.00 | 23.00 | 8.70% |
| REH | Reece | $15.08 | Goldman Sachs | 16.80 | 19.50 | -13.85% |
| RIO | Rio Tinto | $110.46 | Goldman Sachs | 141.90 | 143.50 | -1.11% |
| RMD | ResMed | $33.48 | Goldman Sachs | 46.90 | 49.00 | -4.29% |
| RMS | Ramelius Resources | $2.89 | Canaccord Genuity | 3.55 | 2.90 | 22.41% |
| RRL | Regis Resources | $4.78 | Canaccord Genuity | 3.95 | 3.15 | 25.40% |
| RSG | Resolute Mining | $0.47 | Canaccord Genuity | 1.00 | 0.70 | 42.86% |
| RXL | Rox Resources | $0.42 | Canaccord Genuity | 0.61 | 0.56 | 8.93% |
| S32 | South32 | $2.65 | Goldman Sachs | 3.30 | 4.00 | -17.50% |
| SFR | Sandfire Resources | $9.52 | Goldman Sachs | 10.20 | 10.40 | -1.92% |
| SHL | Sonic Healthcare | $25.17 | Goldman Sachs | 32.20 | 29.70 | 8.42% |
| SMI | Santana Minerals | $0.56 | Canaccord Genuity | 1.56 | 1.33 | 17.29% |
| SPR | Spartan Resources | $2.24 | Canaccord Genuity | 2.40 | 2.10 | 14.29% |
| STK | Strickland Metals | $0.10 | Canaccord Genuity | 0.19 | 0.18 | 5.56% |
| STO | Santos | $5.62 | Jarden | 6.70 | 7.60 | -11.84% |
| TCG | Turaco Gold | $0.44 | Canaccord Genuity | 0.80 | 0.75 | 6.67% |
| TLS | Telstra Group | $4.42 | Jarden | 4.45 | 4.30 | 3.49% |
| TRE | Toubani Resources | $0.29 | Canaccord Genuity | 1.50 | 1.40 | 7.14% |
| TTM | Titan Minerals | $0.40 | Canaccord Genuity | 1.18 | 1.10 | 7.27% |
| VAU | Vault Minerals | $0.48 | Canaccord Genuity | 0.67 | 0.55 | 21.82% |
| Jarden | 0.58 | 0.52 | 11.54% | |||
| WAF | West African Resources | $2.46 | Canaccord Genuity | 4.50 | 4.00 | 12.50% |
| WDS | Woodside Energy | $19.77 | Jarden | 23.75 | 27.00 | -12.04% |
| WGX | Westgold Resources | $3.25 | Canaccord Genuity | 4.85 | 4.15 | 16.87% |
| WHC | Whitehaven Coal | $4.80 | Goldman Sachs | 5.70 | 9.20 | -38.04% |
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
AAR ASTRAL RESOURCES NL
Gold & Silver Overnight Price: $0.17
Canaccord Genuity rates ((AAR)) as Speculative Buy (1)
Canaccord Genuity lifted gold price forecasts in USD for the March quarter by 7.7% and around 10-12% each year until 2028, with the long-term price raised by 11.5%.
The AUD/USD forecasts were lowered until 2027, and left unchanged after that. This resulted in a bigger lift in gold price in AUD terms until 2027, with the forecasts thereafter rising in line with increases in USD price.
Silver prices were raised for the March quarter in USD terms but lowered for the rest of the forecast period, resulting in an increase in AUD terms until 2026, but lower from 2028.
Speculative Buy retained for Astral Resources. Target rises to 49c from 41c.
This report was published on April 9, 2025.
Target price is $0.49 Current Price is $0.17 Difference: $0.325
If AAR meets the Canaccord Genuity target it will return approximately 197% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AIM AI-MEDIA TECHNOLOGIES LIMITED
Commercial Services & Supplies Overnight Price: $0.73
Petra Capital rates ((AIM)) as Buy (1)
Petra Capital highlights the launch of Lexi Voice as a major new opportunity for AI-Media Technologies, enabling real-time voice translation for live broadcasts through its existing encoder infrastructure.
The broker sees this new tool as a value-added extension to the LEXI ecosystem, expected to drive higher audience engagement and advertising revenue, especially for sports and media clients.
While early-stage, Petra anticipates Lexi Voice will improve earnings over time and enhance customer stickiness, particularly in multilingual markets.
The broker’s valuation scenarios suggest Lexi Voice alone could be worth more than the current share price, based on multiple use cases and penetration, but no changes are made to financial forecasts at this stage.
Petra retains a Buy rating with an unchanged $1.35 target price.
This report was published on April 11, 2025.
Target price is $1.35 Current Price is $0.73 Difference: $0.62
If AIM meets the Petra Capital target it will return approximately 85% (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 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 73.00.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.47.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ACL AUSTRALIAN CLINICAL LABS LIMITED
Healthcare services Overnight Price: $2.97
Goldman Sachs rates ((ACL)) as Re-initiation of coverage with Neutral (3)
Goldman Sachs has re-initiated coverage of Australian Clinical Labs with a Neutral rating and target price of $3.30.
The broker notes profitability in the pathology sector has improved in recent months, but reimbursement rates and wage inflation will continue to pose challenges.
The company has performed strongly since the IPO, and the broker believes it can continue to gain market share and improve productivity.
The balance sheet is strong, supporting an ongoing buyback program, with the broker highlighting the company is targeting Australian pathology and adjacencies for future acquisitions.
This report was published on April 3, 2025.
Target price is $3.30 Current Price is $2.97 Difference: $0.33
If ACL meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $3.65, suggesting upside of 22.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 11.00 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 3.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.7, implying annual growth of 55.4%.
Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 15.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 11.00 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 3.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.4, implying annual growth of 14.4%.
Current consensus DPS estimate is 14.2, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 13.9.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CUP COUNT LIMITED
Commercial Services & Supplies Overnight Price: $0.73
Canaccord Genuity rates ((CUP)) as Initiation of coverage with Buy (1)
Canaccord Genuity has initiated coverage of Count with a Buy rating and a target price of $1.00.
The broker considers Count as a well-managed company with its key strength being inter-linkages between the three business segments that create additional growth opportunities.
The broker forecasts 33% rise in FY25 EPS, and 10% growth each year in FY26 and FY27. The company has balance sheet capacity for M&A in the broker’s view.
Earnings mix is expected to shift more towards higher-margin financial planning, managed accounts and services, pushing estimated return on equity up to 16% in FY27 from 11% in FY24.
This report was published on April 9, 2025.
Target price is $1.00 Current Price is $0.73 Difference: $0.27
If CUP meets the Canaccord Genuity target it will return approximately 37% (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 3.90 cents and EPS of 8.10 cents.
At the last closing share price the estimated dividend yield is 5.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.01.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 4.77 cents and EPS of 8.90 cents.
At the last closing share price the estimated dividend yield is 6.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.20.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IMB INTELLIGENT MONITORING GROUP LIMITED
Overnight Price: $0.47
Canaccord Genuity rates ((IMB)) as Initiation of coverage with Buy (1)
Canaccord Genuity initiates coverage of Intelligent Monitoring with a Buy rating and $1 target price.
The company is a leading security services provider in A&NZ, with 40% residential customers and around 60% business, totalling 210k. Listed on the ASX in 2015 as Threat Protect Australia, the name was rebranded to Intelligent Monitoring in 2021 with a new board and management team, the analyst details.
Since 2021, management has completed $87m in acquisitions, including ADT’s A&NZ operations for $45m in FY24, and is now one of the largest operators in a circa $3.4bn marketplace, which remains fragmented. Chubb has an 11% share and Intelligent Monitoring 7%.
The broker believes the company is on a pathway to becoming the industry leader.
This report was published on April 10, 2025.
Target price is $1.00 Current Price is $0.47 Difference: $0.525
If IMB meets the Canaccord Genuity target it will return approximately 111% (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 8.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.94.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.75.
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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CHARTS
For more info SHARE ANALYSIS: AEL - AMPLITUDE ENERGY LIMITED
For more info SHARE ANALYSIS: BPT - BEACH ENERGY LIMITED
For more info SHARE ANALYSIS: CMM - CAPRICORN METALS LIMITED
For more info SHARE ANALYSIS: CRN - CORONADO GLOBAL RESOURCES INC
For more info SHARE ANALYSIS: DRR - DETERRA ROYALTIES LIMITED
For more info SHARE ANALYSIS: FMG - FORTESCUE LIMITED
For more info SHARE ANALYSIS: IFT - INFRATIL LIMITED
For more info SHARE ANALYSIS: KAR - KAROON ENERGY LIMITED
For more info SHARE ANALYSIS: MIN - MINERAL RESOURCES LIMITED
For more info SHARE ANALYSIS: NWL - NETWEALTH GROUP LIMITED
For more info SHARE ANALYSIS: SFR - SANDFIRE RESOURCES LIMITED
For more info SHARE ANALYSIS: WHC - WHITEHAVEN COAL LIMITED