Weekly Reports | May 09 2025
This story features BEACH ENERGY LIMITED, and other companies. For more info SHARE ANALYSIS: BPT
The company is included in ASX200, ASX300 and ALL-ORDS
Broker Rating Changes (Post Thursday Last Week)
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BEACH ENERGY LIMITED ((BPT)) Upgrade to Buy from Sell by Canaccord Genuity.B/H/S: 0/0/0
Canaccord Genuity upgrades Beach Energy to Hold from Sell and lifts the target price to $1.30 from $1.28, citing stronger-than-expected March quarter results.
Quarterly production fell -3% to 4.9mnboe but was in line with the analyst’s expectations. Sales revenue of $552m was supported by third-party LNG cargoes.
Management’s FY25 production guidance of 18.521.5mnboe is retained despite ~0.5mnboe of production deferred post-quarter due to Cooper Basin flooding.
Canaccord Genuity lifted FY25 earnings (EBITDA) by 1.2% reflecting stronger price realisations and LNG volumes.
Waitsia commissioning is progressing with first gas still targeted mid-2025. Otway program remains on track with the Equinox rig expected in June quarter, including -$45m net costs each for abandonment and new drilling.
ORICA LIMITED ((ORI)) Upgrade to Overweight from Neutral by Jarden.B/H/S: 0/0/0
Ahead of Orica’s 1H25 result on May 8, Jarden is forecasting EBIT of $448m, which is in line with consensus and aligns with the company’s implied guidance provided earlier.
The broker sees little scope for upside surprise for shareholder returns, given $400m on-market share buyback is already announced.
Focus will be on Burrup re-contracting and digital solutions performance, and capital management framework.
Rating upgraded to Overweight from Neutral on valuation and improved risk profile. Target cut to $17.90 from $18.50.
Change of analyst to Jakob Cakarnis.
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SANDFIRE RESOURCES LIMITED ((SFR)) Downgrade to Neutral from Buy by Goldman Sachs.B/H/S: 0/0/0
Goldman Sachs assesses Sandfire Resources’ 3Q25 result as weaker-than-expected as wet weather impacted operations.
Copper and zinc production missed the broker’s forecast by -6% and -9%, respectively, and unit costs at both Motheo and Matsa were higher than expected.
The company maintained FY25 guidance, suggesting heavily skewed production in 4Q. The broker is not convinced and is forecasting slightly below, while lifting the cost forecast for Matsa on stronger EUR/USD.
The quarterly result and changes to production and costs resulted in a -7% cut to FY25 EBITDA forecast and a -4% cut to FY26.
Rating downgraded to Neutral from Buy. Target cut to $9.60 from $10.20.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Upgrade | |||||
| 1 | BEACH ENERGY LIMITED | Buy | Sell | Canaccord Genuity | |
| 2 | ORICA LIMITED | Buy | Neutral | Jarden | |
| Downgrade | |||||
| 3 | SANDFIRE RESOURCES LIMITED | Neutral | Buy | Goldman Sachs | |
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| ACF | Acrow | $1.05 | Moelis | 1.44 | 1.39 | 3.60% |
| ADT | Adriatic Metals | $3.90 | Canaccord Genuity | 4.55 | 4.50 | 1.11% |
| ALK | Alkane Resources | $0.81 | Moelis | 1.05 | 1.00 | 5.00% |
| ALL | Aristocrat Leisure | $68.00 | Goldman Sachs | 77.00 | 82.00 | -6.10% |
| ALQ | ALS Ltd | $17.82 | Goldman Sachs | 17.80 | 17.75 | 0.28% |
| AMA | AMA Group | $0.08 | Canaccord Genuity | 0.13 | 0.10 | 30.00% |
| APX | Appen | $0.88 | Canaccord Genuity | 2.35 | 2.60 | -9.62% |
| ARX | Aroa Biosurgery | $0.45 | Canaccord Genuity | 0.90 | 1.00 | -10.00% |
| BGL | Bellevue Gold | $0.97 | Goldman Sachs | 1.15 | 1.25 | -8.00% |
| BOE | Boss Energy | $3.98 | Canaccord Genuity | 5.15 | 5.35 | -3.74% |
| BPT | Beach Energy | $1.21 | Canaccord Genuity | 1.30 | 1.28 | 1.56% |
| BTH | Bigtincan Holdings | $0.22 | Canaccord Genuity | N/A | 0.20 | -100.00% |
| BXB | Brambles | $21.16 | Goldman Sachs | 18.70 | 18.35 | 1.91% |
| CIA | Champion Iron | $4.54 | Goldman Sachs | 5.70 | 5.90 | -3.39% |
| Jarden | 6.91 | 7.02 | -1.57% | |||
| CKF | Collins Foods | $8.27 | Wilsons | 10.13 | 10.72 | -5.50% |
| CMM | Capricorn Metals | $9.73 | Goldman Sachs | 10.00 | 9.90 | 1.01% |
| COL | Coles Group | $22.29 | Jarden | 20.60 | 19.50 | 5.64% |
| CRN | Coronado Global Resources | $0.17 | Goldman Sachs | 0.30 | 0.35 | -14.29% |
| CSC | Capstone Copper | $7.61 | Moelis | 12.00 | 13.00 | -7.69% |
| CTD | Corporate Travel Management | $11.64 | Canaccord Genuity | 14.85 | 18.80 | -21.01% |
| Jarden | 16.00 | 17.00 | -5.88% | |||
| CYL | Catalyst Metals | $6.32 | Canaccord Genuity | 6.20 | 6.10 | 1.64% |
| DRR | Deterra Royalties | $3.65 | Canaccord Genuity | 4.90 | 4.70 | 4.26% |
| DUG | Dug Technology | $1.17 | Canaccord Genuity | 2.40 | 3.20 | -25.00% |
| Wilsons | 1.96 | 1.83 | 7.10% | |||
| DXB | Dimerix | $0.72 | Petra Capital | 1.58 | 1.28 | 23.44% |
| GEM | G8 Education | $1.31 | Canaccord Genuity | 1.49 | 1.51 | -1.32% |
| Moelis | 1.49 | 1.52 | -1.97% | |||
| GOR | Gold Road Resources | $3.30 | Goldman Sachs | N/A | 3.40 | -100.00% |
| HLI | Helia Group | $5.06 | Goldman Sachs | 3.93 | 3.70 | 6.22% |
| IDX | Integral Diagnostics | $2.57 | Jarden | 3.45 | 3.51 | -1.71% |
| IGO | IGO Ltd | $4.07 | Canaccord Genuity | 3.60 | 3.50 | 2.86% |
| Goldman Sachs | 4.55 | 4.60 | -1.09% | |||
| Jarden | 5.34 | 5.52 | -3.26% | |||
| ILU | Iluka Resources | $4.11 | Goldman Sachs | 6.20 | 6.50 | -4.62% |
| JDO | Judo Capital | $1.40 | Jarden | 2.40 | 2.60 | -7.69% |
| LGP | Little Green Pharma | $0.12 | Canaccord Genuity | 0.18 | 0.21 | -14.29% |
| LLL | Leo Lithium | Canaccord Genuity | 1.90 | N/A | N/A | |
| LNW | Light & Wonder | $133.15 | Goldman Sachs | 173.50 | 184.60 | -6.01% |
| LOT | Lotus Resources | $0.20 | Canaccord Genuity | 0.31 | 0.34 | -8.82% |
| LTR | Liontown Resources | $0.54 | Petra Capital | 0.56 | 0.85 | -34.12% |
| MAC | MAC Copper | $14.28 | Wilsons | 22.00 | 24.50 | -10.20% |
| MIN | Mineral Resources | $20.74 | Goldman Sachs | 21.00 | 18.00 | 16.67% |
| NST | Northern Star Resources | $19.89 | Canaccord Genuity | 26.80 | 27.75 | -3.42% |
| Goldman Sachs | 22.10 | 19.40 | 13.92% | |||
| Jarden | 18.30 | 18.10 | 1.10% | |||
| NXT | NextDC | $13.22 | Wilsons | 18.10 | 18.15 | -0.28% |
| OBM | Ora Banda Mining | $1.17 | Canaccord Genuity | 1.25 | 1.20 | 4.17% |
| Moelis | 1.03 | 1.00 | 3.00% | |||
| ORG | Origin Energy | $10.99 | Goldman Sachs | 10.15 | 10.05 | 1.00% |
| Jarden | 10.25 | 10.00 | 2.50% | |||
| ORI | Orica | $18.01 | Jarden | 17.90 | 18.50 | -3.24% |
| PLT | Plenti Group | $0.86 | Wilsons | 1.58 | 1.46 | 8.22% |
| PNI | Pinnacle Investment Management | $19.02 | Wilsons | 23.50 | 26.50 | -11.32% |
| PPE | PeopleIN | $0.72 | Wilsons | 1.05 | 1.19 | -11.76% |
| PPS | Praemium | $0.74 | Moelis | 1.01 | 1.03 | -1.94% |
| RRL | Regis Resources | $4.86 | Canaccord Genuity | 4.10 | 3.95 | 3.80% |
| Goldman Sachs | 4.25 | 4.15 | 2.41% | |||
| RUL | RPMGlobal | $2.88 | Taylor Collison | N/A | 3.55 | -100.00% |
| RWC | Reliance Worldwide | $4.31 | Goldman Sachs | 5.20 | 6.00 | -13.33% |
| Jarden | 4.70 | 5.60 | -16.07% | |||
| SDR | SiteMinder | $3.87 | Wilsons | 6.44 | 7.22 | -10.80% |
| SFR | Sandfire Resources | $10.34 | Goldman Sachs | 9.60 | 10.20 | -5.88% |
| SGF | SG Fleet | $3.49 | Canaccord Genuity | N/A | 3.50 | -100.00% |
| SMR | Stanmore Resources | $2.00 | Petra Capital | 5.37 | 5.08 | 5.71% |
| VAU | Vault Minerals | $0.49 | Canaccord Genuity | 0.68 | 0.67 | 1.49% |
| Petra Capital | 0.76 | 0.68 | 11.76% | |||
| WDS | Woodside Energy | $20.11 | Goldman Sachs | 22.90 | 24.20 | -5.37% |
| WOW | Woolworths Group | $32.83 | Goldman Sachs | 36.50 | 36.10 | 1.11% |
| Jarden | 36.30 | 37.00 | -1.89% | |||
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
360 LIFE360 INC
Software & Services Overnight Price: $23.24
Goldman Sachs rates ((360)) as Buy (1)
Goldman Sachs previews Life360’s 1Q25 result due on May 13 with subscriber additions expected to be strong and the analyst forecasting 63k in the US and 35k additions internationally, supported by dual-tier plans.
Indirect revenue via advertising and data partnerships remains a key focus, with ramp-up expected across FY25.
Hardware growth is tied to upcoming product launches, though retail softness in 4Q24 and new tariffs add uncertainty to the go-to-market strategy, the broker notes.
Life360 reiterated FY25 guidance of US$450480m revenue and US$6575m adjusted earnings (EBITDA). Buy rating retained with target price of $27.00.
This report was published on May 2, 2025.
Target price is $27.00 Current Price is $23.24 Difference: $3.76
If 360 meets the Goldman Sachs target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $27.21, suggesting upside of 17.1%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 43.05 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.0, 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 40.1.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 64.58 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 55.4, implying annual growth of -4.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 41.9.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ACF ACROW LIMITED
Building Products & Services Overnight Price: $1.06
Moelis rates ((ACF)) as Buy (1)
Moelis retains a Buy rating and $1.44 target price on Acrow following its acquisitions of Brand Australia and Above Scaffolding for -$23m upfront, with a potential $6m earn-out.
The deals add geographic exposure in NSW and are expected to contribute around $40m revenue and at least $7m earnings (EBITDA) in FY26, at an implied sub 4x EV/EBITDA multiple, the analyst states.
Completion was effective 1 May, funded via existing debt facilities.
Management updated FY25 guidance lower due to delays in project starts, now expecting $260270m revenue and $8083m earnings (EBITDA), with net profit after tax lowered to $32.5$35m.
Moelis cuts FY25 EPS estimate by -6% but raises FY2627 by 56%, citing timing-related deferral of earnings. The broker expects Queensland activity to accelerate, supported by the $60m BHP Mitsubishi Alliance ((BHP)) contract and Olympic infrastructure rollout.
This report was published on May 1, 2025.
Target price is $1.44 Current Price is $1.06 Difference: $0.38
If ACF meets the Moelis target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $1.32, suggesting upside of 24.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 5.70 cents and EPS of 10.90 cents.
At the last closing share price the estimated dividend yield is 5.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.72.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.1, implying annual growth of 25.1%.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 9.5.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 6.60 cents and EPS of 13.10 cents.
At the last closing share price the estimated dividend yield is 6.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.09.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.1, implying annual growth of 18.0%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 8.1.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AMA AMA GROUP LIMITED
Automobiles & Components Overnight Price: $0.08
Canaccord Genuity rates ((AMA)) as Buy (1)
AMA Group delivered a strong March quarter, according to Canaccord Genuity, with normalised earnings (EBITDA) rising 79% on the previous year due to a turnaround in AMA Collision and continued gains at Capital Smart.
The broker notes group revenue rose 10% on a year earlier with management’s FY25 guidance for earnings (EBITDA) of $5862m represenings a 13% upgrade to Canaccord’s prior forecast.
The analyst lifts FY25 and FY26 earnings (EBITDA) forecasts by 15% and 11%, respectively. Buy rating maintained, target price raised to 13c from 10c.
This report was published on May 2, 2025.
Target price is $0.13 Current Price is $0.08 Difference: $0.052
If AMA meets the Canaccord Genuity target it will return approximately 67% (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 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.00.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DUG DUG TECHNOLOGY LIMITED
Cloud services Overnight Price: $1.16
Canaccord Genuity rates ((DUG)) as Buy (1)
Dug Technology reported a stronger third quarter, with earnings (EBITDA) of US$5.3m at a 32% margin and Services awards reaching US$22.7m, the highest level since 1Q24, Canaccord Genuity highlights.
The company’s order book rose 30% to US$42.7m, suggesting robust momentum into Q4. Software revenue increased 23% over the quarter, but HPC-as-a-Service declined -32%, the broker notes.
Total revenue of US$16.5m was slightly below expectations; cost control kept margins healthy.
Commentary highlights management remains optimistic on new products, including Elastic MP-FWI Imaging, Dug Cool, and Dug Nomad.
Canaccord Genuity lowers FY25/FY26 earnings (EBITDA) by -9% and -5%, respectively. Buy rating retained; target price lowered to $2.40 from $2.60.
This report was published on May 2, 2025.
Target price is $2.40 Current Price is $1.16 Difference: $1.245
If DUG meets the Canaccord Genuity target it will return approximately 108% (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 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 28.88.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 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 115.50.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LGP LITTLE GREEN PHARMA LIMITED
Pharmaceuticals & Biotech/Lifesciences Overnight Price: $0.12
Canaccord Genuity rates ((LGP)) as Speculative Buy (1)
Canaccord Genuity lowers its price target for Little Green Pharma to $0.18 from $0.21 while retaining a Speculative Buy rating.
The analyst explains March quarter result met expectations, though gross profit margins declined for a third consecutive quarter to 33%, leading to trimmed earnings (EBITDA) forecasts to $0.6m from $0.9m, and FY26 to $3.9m from $4.5m.
The broker’s net income estimated for FY26 is reduced to $0.8m from $1.5m.
Revenue forecast for FY25 is maintained at $36.6m, up 40% year-on-year, with March revenue at a stronger-than-expected $4.0m, indicating a favourable run rate for FY26.
The broker flags the need for careful working capital management given a cash balance of $2.4m. European growth remains a key driver, with March quarter sales in that region rising 50%.
This report was published on May 1, 2025.
Target price is $0.18 Current Price is $0.12 Difference: $0.065
If LGP meets the Canaccord Genuity target it will return approximately 57% (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 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.78.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 38.33.
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: $0.86
Wilsons rates ((PLT)) as Overweight (1)
Plenti reported a strong 4Q25 with originations up 42% year-on-year and cash net profit after tax rising 126% to $13.8m, 36% ahead of Wilsons’ forecasts.
Personal loan originations increased 58%, auto loans 35%, and renewable loans 27%. The NAB partnership grew to $11m in originations for the quarter, up from $3m in 3Q. The loan book rose 19% to $2.5bn, the broker notes.
Wilsons raises FY2627 cash net profit after forecasts by 47% and 19% respectively, citing operating leverage and sustained origination strength.
Overweight rating retained. Target price rises to $1.58 from $1.46.
This report was published on May 1, 2025.
Target price is $1.58 Current Price is $0.86 Difference: $0.72
If PLT meets the Wilsons target it will return approximately 84% (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 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 430.00.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.26.
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: BPT - BEACH ENERGY LIMITED
For more info SHARE ANALYSIS: ORI - ORICA LIMITED
For more info SHARE ANALYSIS: SFR - SANDFIRE RESOURCES LIMITED