Australian Broker Call *Extra* Edition – May 19, 2025

This story features 3P LEARNING LIMITED, and other companies. For more info SHARE ANALYSIS: 3PL

The company is included in 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)

3PL   AIM   ALD   ALL (2)   APE   APX   AVH   BGL   BKT   BPT   BTR   BWN   CAA   CBA   CIP   CLV   CRD   CXO   DSK   DUR   EML   FBU   FFM   HPG   IMM   MVF   NEU   NWS   NXS   PSC   SLC (3)   WJL  

3PL    3P LEARNING LIMITED

Education & Tuition – Overnight Price: $0.66

Taylor Collison rates ((3PL)) as Hold (3) –

Taylor Collison notes 3P Learning continues to face headwinds from increased competition in both B2B and consumer markets, with limited school funding compounding the problems.

The company is undertaking cost initiatives to increase profitability and remains positive about its 3E campaign (product, bundling, initiative). The broker finds the potential for cost-effective products for schools appealing, and is positive on the company’s medium-term prospects.

However, it will wait for evidence before re-assessing the Hold rating.

No target price is mentioned.

This report was published on May 12, 2025.

Current Price is $0.66. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.73 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.56.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.76 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.76.

Market Sentiment: 0.0
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: $0.70

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

Petra Capital highlights early feedback for Ai-Media Technologies’ newly launched LEXI Voice was positive.

The app does a live translation of a single language broadcast into a multi-language experience and was launched at a large show in Las Vegas.

No change to forecasts. Buy. Target unchanged at $1.35.

This report was published on May 14, 2025.

Target price is $1.35 Current Price is $0.70 Difference: $0.65
If AIM meets the Petra Capital target it will return approximately 93% (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 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 116.67.

Forecast for FY26:

Petra Capital 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 70.00.

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

ALD    AMPOL LIMITED

Consumer Products & Services – Overnight Price: $26.53

Goldman Sachs rates ((ALD)) as Buy (1) –

Ampol announced divestment of its electricity retail businesses in Australia/NZ to focus on electric vehicle charging and renewable fuels. The company expects to receive $65m from the sales, and FY26 EBITDA to improve by $30m on cost reduction.

Goldman Sachs notes this is in addition to the $50m expected in FY25 from previously announced cost initiatives, and will support deleveraging over 2025. The broker forecasts reported leverage to peak at 2.9x in 1H25 and decline to 2.4x by the end of FY25.

EBITDA forecast for FY25 lifted by 2% and by 3% for FY26.

Buy. Target rises to $31.80 from $30.80.

This report was published on May 14, 2025.

Target price is $31.80 Current Price is $26.53 Difference: $5.27
If ALD meets the Goldman Sachs target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $29.90, suggesting upside of 13.6%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 41.00 cents and EPS of 83.00 cents.
At the last closing share price the estimated dividend yield is 1.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 153.7, implying annual growth of 199.0%.
Current consensus DPS estimate is 96.7, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 17.1.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 149.00 cents and EPS of 198.00 cents.
At the last closing share price the estimated dividend yield is 5.62%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 207.3, implying annual growth of 34.9%.
Current consensus DPS estimate is 159.7, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 12.7.

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

ALL    ARISTOCRAT LEISURE LIMITED

Gaming – Overnight Price: $62.86

Goldman Sachs rates ((ALL)) as Buy (1) –

Aristocrat Leisure’s 1H25 result missed Goldman Sachs’ forecasts across all key indicators, including revenue and EBITDA, which came in -4% lower than expected.

Commentary suggests this belied the strong performance in North American gaming operations, where the company added 2,472 net additional units, well ahead of competitors.

Margins rose 130bps, and the broker expects those to sustain, given the company doesn’t expect tariff-related costs impact this FY.

Among the negatives was the 2H weighting in growth, and fee per day which dropped -5% to US$52.73, but the broker expects it to grow sequentially in 2H to US$53.66.

FY25-26 EBITDA forecasts lowered by -4%, and FY27 by -3%. Buy. Target cut to $74 from $77. 

This report was published on May 14, 2025.

Target price is $74.00 Current Price is $62.86 Difference: $11.14
If ALL meets the Goldman Sachs target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $73.23, suggesting upside of 16.1%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 92.00 cents and EPS of 249.00 cents.
At the last closing share price the estimated dividend yield is 1.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 246.4, implying annual growth of 20.3%.
Current consensus DPS estimate is 86.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 25.6.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 103.00 cents and EPS of 287.00 cents.
At the last closing share price the estimated dividend yield is 1.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 275.5, implying annual growth of 11.8%.
Current consensus DPS estimate is 94.5, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 22.9.

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

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

Jarden is disappointed with Aristocrat Leisure missing its forecast for 1H25 earnings by -7% and consensus by -6%. The bigger miss was in gaming operations fee per day (FPD), which the broker reckons was in response to competitive pressures.

The broker expects FPD to recover in 2H but not recoup the entire decline since FY24. The analyst suggests the company considers a low double-digit total shareholder return strategy, which might potentially lead to a positive re-rate at lower risk.

FY25-27 EPS forecasts trimmed by an average -5.7% on lower gaming FPD, and a higher effective tax rate.

Overweight. Target cut to $64 from $68.

This report was published on May 14, 2025.

Target price is $64.00 Current Price is $62.86 Difference: $1.14
If ALL meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $73.23, suggesting upside of 16.1%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 91.00 cents and EPS of 243.20 cents.
At the last closing share price the estimated dividend yield is 1.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 246.4, implying annual growth of 20.3%.
Current consensus DPS estimate is 86.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 25.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 106.00 cents and EPS of 282.70 cents.
At the last closing share price the estimated dividend yield is 1.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 275.5, implying annual growth of 11.8%.
Current consensus DPS estimate is 94.5, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 22.9.

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

APE    EAGERS AUTOMOTIVE LIMITED

Automobiles & Components – Overnight Price: $17.77

Canaccord Genuity rates ((APE)) as Downgrade to Hold from Buy (3) –

After reassessing Eagers Automotive’s forecasts for FY25, Canaccord Genuity has concluded factors such as April holiday timings and Federal election in 1H25 mean earnings skew to 2H is likely.

No change to FY25 net profit forecast of $400.5m, but the broker now sees $182.4m in 1H and the remaining in 2H.

The broker believes bolt-on acquisitions will continue to be the company’s strategy, but at some point, it will need to boost the balance sheet.

Rating downgraded to Hold from Buy. Target lifted to $17.20 from $17.00 on valuation roll-forward.

This report was published on May 14, 2025.

Target price is $17.20 Current Price is $17.77 Difference: minus $0.57 (current price is over target).
If APE meets the Canaccord Genuity target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.88, suggesting downside of -9.4%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 76.00 cents and EPS of 106.40 cents.
At the last closing share price the estimated dividend yield is 4.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 101.1, implying annual growth of 26.0%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 17.3.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 80.00 cents and EPS of 119.20 cents.
At the last closing share price the estimated dividend yield is 4.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.4, implying annual growth of 5.2%.
Current consensus DPS estimate is 70.5, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 16.5.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

APX    APPEN LIMITED

IT & Support – Overnight Price: $1.46

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

Appen provided FY25 guidance at the AGM, which was in line with Canaccord Genuity and consensus. The broker notes the revenue expectation implies a 12% y/y growth and suggests continuation of the revenue growth seen in 1Q.

The company also issued a 3-year compounded annual revenue growth target of over 20% and a 10% EBITDA margin. This equates to FY27 revenue of US$400m and EBITDA of US40m, which compares with the consensus of US$308m and US$20m, respectively.

The broker reckons the target suggests the company expects revenue acceleration in FY26 and FY27.

Speculative Buy. Target unchanged at $2.35.

This report was published on May 16, 2025.

Target price is $2.35 Current Price is $1.46 Difference: $0.89
If APX meets the Canaccord Genuity target it will return approximately 61% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.39 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 105.42.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.15 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 948.05.

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

AVH    AVITA MEDICAL INC

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $2.01

Wilsons rates ((AVH)) as Downgrade to Underweight from Market Weight (5) –

Avita Medical’s 1Q25 revenue missed Wilsons’ forecast by -21%, and while the company reiterated FY25 guidance of US$100-106m, the broker isn’t as optimistic and is forecasting US$92.2m.

The company announced a reduction in field sales team headcount to 82 from 108 to cut costs, but the broker isn’t warming up to the strategy to redeploy them in sales from the service-based model.

The key question is whether the 2Q25 12-month revenue covenant target of US$78m will be met. The broker’s US$79.4m forecast suggests it will, but it comes with a caution the venture debt lender may be less tolerant of another covenant miss.

Rating downgraded to Underweight from Market Weight. Target cut to $1.92 from $3.20.

This report was published on May 13, 2025.

Target price is $1.92 Current Price is $2.01 Difference: minus $0.09 (current price is over target).
If AVH meets the Wilsons target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in December.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 28.17 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.14.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 16.01 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.56.

This company reports in USD. 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

BGL    BELLEVUE GOLD LIMITED

Gold & Silver – Overnight Price: $0.86

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

After a period of research restriction, Canaccord Genuity resumed coverage of Bellevue Gold with Speculative Buy rating.

Following a weak March quarter production of 25koz due to lower grades, the company issued a revised mine plan to replace the previous 5-year plan.

The downgraded FY25 production forecast of 129-134koz is expected to increase to 150koz in FY26, with FY27-29 now targeted at 190kozpa vs FY27-29 of 220-250kozpa before.

The company recently undertook a $156.5m share placement, and has launched a strategic review, stating also that it has received an unsolicited interest.

The broker incorporated lower production and higher cost estimates into its forecasts. Target price $1.50.

This report was published on May 7, 2025.

Target price is $1.50 Current Price is $0.86 Difference: $0.64
If BGL meets the Canaccord Genuity target it will return approximately 74% (excluding dividends, fees and charges).
Current consensus price target is $1.40, suggesting upside of 59.1%(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 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 43.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.3, implying annual growth of -34.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.5.

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 8.60.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.1, implying annual growth of 134.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.7.

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

BKT    BLACK ROCK MINING LIMITED

New Battery Elements – Overnight Price: $0.03

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

Black Rock Mining has finalised the last remaining agreement before a final investment decision on the Mahenge project.

Petra Capital notes the agreement with Tanesco was announced before and already included in project financing and working capital loans that were secured.

The company will construct a 220kV powerline for Tanesco and will be repaid the build cost after four years. The advantage to the company is low-cost power.

The broker reiterated Black Rock Mining is a stand-out graphic developer and is the only graphite company Posco has a shareholding in.

Buy. Target unchanged at 11c.

This report was published on May 14, 2025.

Target price is $0.11 Current Price is $0.03 Difference: $0.082
If BKT meets the Petra Capital target it will return approximately 293% (excluding dividends, fees and charges).

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

BPT    BEACH ENERGY LIMITED

Crude Oil – Overnight Price: $1.32

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

Jarden highlights an update from Beach Energy on LinkedIn confirming fuel gas has successfully entered the Waitsia Stage 2 plant. This was a long-awaited development and removes one key uncertainty.

The broker notes commissioning activities can now move forward, but there’s more work to do to sell the first gas.

The analyst also cautions the delays and other expenses have meant free cash flow generation thesis supporting the company’s valuation has already been eroded.

Underweight. Target unchanged at $1.17.

This report was published on May 12, 2025.

Target price is $1.17 Current Price is $1.32 Difference: minus $0.155 (current price is over target).
If BPT meets the Jarden target it will return approximately minus 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.39, suggesting upside of 4.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 8.50 cents and EPS of 21.30 cents.
At the last closing share price the estimated dividend yield is 6.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.1, implying annual growth of N/A.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 6.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.50 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 5.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.0, implying annual growth of 9.5%.
Current consensus DPS estimate is 5.8, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 6.0.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BTR    BRIGHTSTAR RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.69

Canaccord Genuity rates ((BTR)) as Buy (1) –

Canaccord Genuity notes Brightstar Resources ended 3Q25 with cash of $7m, but this excludes $12m received from ore sale after the end of the quarter. 

Definitive feasibility study for the Laverton-Menzies hub is due this quarter, and the broker expects it to demonstrate potential for an average 60-80kozpa over a five-year mine life.

Pre-feasibility study for the Sandstone gold project is targeted for 1H2026, and the broker expects cash flow from other mines to be sufficient to fund its development.

Buy. Target cut to $1.50 from $2.00 (the $2 target price was a result of 25:1 share price consolidation).

This report was published on May 16, 2025.

Target price is $1.50 Current Price is $0.69 Difference: $0.81
If BTR meets the Canaccord Genuity target it will return approximately 117% (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 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 34.50.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 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 8.63.

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

BWN    BHAGWAN MARINE LIMITED

Overnight Price: $0.47

Petra Capital rates ((BWN)) as Initiation of coverage with Buy (1) –

Petra Capital has initiated coverage of Bhagwan Marine with a Buy rating and target price of 62c.

The company was listed in July 2024 and has a track record of generating profits and positive free cash flow. The broker believes it has potential for growth and capital returns.

Among the pathways are higher earnings and profits from higher asset utilisation and/or higher rates. The broker reckons the company also has capacity to invest in growth, either organic or via acquisition.

It could also become a takeover target, given the consolidation in the offshore marine services industry.

This report was published on May 15, 2025.

Target price is $0.62 Current Price is $0.47 Difference: $0.15
If BWN meets the Petra Capital target it will return approximately 32% (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 0.50 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 1.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.40.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 1.50 cents and EPS of 4.90 cents.
At the last closing share price the estimated dividend yield is 3.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.59.

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

CAA    CAPRAL LIMITED

Aluminium, Bauxite & Alumina – Overnight Price: $11.04

Taylor Collison rates ((CAA)) as Outperform (2) –

Taylor Collison believes Capral remains undervalued, with the market underestimating the potential for residential volumes headwind to become a tailwind in 2H25.

Specifically, the analyst notes approvals data for detached dwellings has been positive y/y for a number of quarters.

The broker also sees no direct impact on volumes from the 25% tariff on Australian aluminium, given operations are largely domestic, but remains watchful.

The company is also expected to benefit from productivity initiatives, including trade center acquisitions and upgrade projects in Penrith and Smithfield.

Minor downward revisions to forecasts. Outperform retained. No target price.

This report was published on May 15, 2025.

Current Price is $11.04. Target price not assessed.
The company’s fiscal year ends in December.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 101.50 cents and EPS of 169.20 cents.
At the last closing share price the estimated dividend yield is 9.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.52.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 126.30 cents and EPS of 210.50 cents.
At the last closing share price the estimated dividend yield is 11.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.24.

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

CBA    COMMONWEALTH BANK OF AUSTRALIA

Banks – Overnight Price: $169.66

Jarden rates ((CBA)) as Sell (5) –

Jarden highlights CommBank’s 3Q25 update showed volume growth, good trading income and stable interest rate margin (NIM) which offset modest weakening in credit quality.

The broker pushed up FY25 EPS forecast by 0.6% and FY26 by 1.1% on better NIM and higher trading income.

A conundrum for the analyst is the bank’s valuation, and it describes the share price gains as “a function of non-fundamental investor flow exceeding fundamental.”

Sell. Target unchanged at $110.

This report was published on May 14, 2025.

Target price is $110.00 Current Price is $169.66 Difference: minus $59.66 (current price is over target).
If CBA meets the Jarden target it will return approximately minus 35% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $109.25, suggesting downside of -35.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 480.00 cents and EPS of 611.00 cents.
At the last closing share price the estimated dividend yield is 2.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 611.7, implying annual growth of 7.8%.
Current consensus DPS estimate is 482.0, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 27.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 488.00 cents and EPS of 618.40 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 626.0, implying annual growth of 2.3%.
Current consensus DPS estimate is 495.2, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 27.2.

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

CIP    CENTURIA INDUSTRIAL REIT

REITs – Overnight Price: $3.06

Moelis rates ((CIP)) as Buy (1) –

Moelis assesses Centuria Industrial REIT’s 3Q25 update as solid despite a slowing in leasing spreads to 41% vs 50% at the end of 1H25.

The broker believes with 20-25% of the portfolio under-rented, the REIT can generate over 5% net operating income growth until FY27 as lease expiries are resolved.

FY25 FFO and dividend guidance were reaffirmed, resulting in no change to the broker’s forecast.

Buy. Target rises marginally to $3.73 from $3.72.

This report was published on May 14, 2025.

Target price is $3.73 Current Price is $3.06 Difference: $0.67
If CIP meets the Moelis target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $3.30, suggesting upside of 6.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 16.30 cents and EPS of 17.50 cents.
At the last closing share price the estimated dividend yield is 5.33%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.6, implying annual growth of 132.2%.
Current consensus DPS estimate is 16.3, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 17.6.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 16.50 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 5.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.9, implying annual growth of 1.7%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 17.3.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CLV    CLOVER CORPORATION LIMITED

Health & Nutrition – Overnight Price: $0.45

Taylor Collison rates ((CLV)) as Speculative Buy (1) –

Taylor Collison has revisited its Speculative Buy rating on Clover and assesses it to be undervalued for a business with potential tailwinds. 

One key development since March is Soul Pattinson ((SOL)) selling out its entire stake in the company, removing an overhang on the stock.

The broker also notes major customer Danone reported 9.9% like-for-like sales growth in China in 1Q25. Strong growth was also seen in its specialist nutrition division across China and Europe, with Nutrison sales likely to benefit the company.

No change to forecasts. Speculative Buy retained. No target price.

This report was published on May 7, 2025.

Current Price is $0.45. Target price not assessed.
The company’s fiscal year ends in July.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 1.50 cents and EPS of 3.20 cents.
At the last closing share price the estimated dividend yield is 3.33%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.06.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 1.80 cents and EPS of 4.90 cents.
At the last closing share price the estimated dividend yield is 4.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.18.

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

CRD    CONRAD ASIA ENERGY LIMITED

Crude Oil – Overnight Price: $0.68

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

Wilsons notes Conrad Asia Energy’s gas sales agreement for Mako has been delayed, but the company is now on the verge of signing with PT PLN Energi Primer as per the government directive.

The next step is a sell-down, and discussions are progressing. Ahead of that, the company raised $9m in capital and agreed with Coro to transfer its 15% participating interest in Mako. 

This will leave the company with a 91.5% interest. The broker incorporated the delays into the forecasts by 6-12 months, including a delay in the balance US$14m of forecast equity raise to 1H26 from 1H25.

Overweight. Target unchanged at $1.52.

This report was published on May 16, 2025.

Target price is $1.52 Current Price is $0.68 Difference: $0.84
If CRD meets the Wilsons target it will return approximately 124% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 4.62 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 14.72.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 13.85 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 4.91.

This company reports in USD. 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

CXO    CORE LITHIUM LIMITED

New Battery Elements – Overnight Price: $0.10

Jarden rates ((CXO)) as Upgrade to Neutral from Sell (3) –

Core Lithium’s updated restart study for the Finniss lithium project contained a pre-feasibility study and focused on a conceptual underground mine plan.

Jarden notes the study showed a halving in mining unit costs to $63-73/t from $120/t in last year’s update. It also showed a significantly lower pre-development capex of -$170-200m from -$282m estimated before.

The challenge for the company, in the broker’s view, is to secure funding, and non-dilutive funding would be an upside risk.

Rating upgraded to Neutral from Sell. Target lifted to 10c from 7c.

This report was published on May 15, 2025.

Target price is $0.10 Current Price is $0.10 Difference: $0.001
If CXO meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
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 minus 1.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 9.00.

Forecast for FY26:

Jarden forecasts a full year FY26 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 12.38.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

DSK    DUSK GROUP LIMITED

Household & Personal Products – Overnight Price: $0.86

Canaccord Genuity rates ((DSK)) as Buy (1) –

Dusk Group’s guidance for FY25 was lower than Canaccord Genuity’s forecast on all key metrics as a highly promotional retail environment, holiday timings, and federal elections impacted the business in 2H25.

Still, the broker highlights the company expects to grow revenue by 9% and EBIT by 21%, so it is not all grim. Also, management appears to be controlling costs well.

The analyst cuts forecasts to align with the guidance, resulting in a -1% cut to the FY25 revenue estimate and -2% to FY26.

Buy. Target cut to $1.40 from $1.60.

This report was published on May 16, 2025.

Target price is $1.40 Current Price is $0.86 Difference: $0.54
If DSK meets the Canaccord Genuity target it will return approximately 63% (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 14.00 cents and EPS of 8.00 cents.
At the last closing share price the estimated dividend yield is 16.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.75.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 9.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 10.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.17.

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

DUR    DURATEC LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $1.52

Taylor Collison rates ((DUR)) as Outperform (2) –

Taylor Collison remains of the view Duratec’s premium to similar-sized peers is justified, given its track record in the defence sector and the full service solution it provides to asset owners.

The broker re-iterated optimism about the company’s prospects given the upcoming HMAS Stirling investment, the iron ore capex replacement cycle, and maintenance and commissioning work in the oil and gas sector.

In recent months, the company secured work with APA Group ((APA)) and Chevron via the GFE acquisition.

Minor upgrades to FY25-26 EPS forecasts. No target price. Outperform rating.

This report was published on May 15, 2025.

Current Price is $1.52. Target price not assessed.
Current consensus price target is $1.86, suggesting upside of 19.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 6.00 cents and EPS of 9.90 cents.
At the last closing share price the estimated dividend yield is 3.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.3, implying annual growth of 18.9%.
Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 15.0.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 8.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 5.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.2, implying annual growth of 18.4%.
Current consensus DPS estimate is 5.5, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 12.7.

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

EML    EML PAYMENTS LIMITED

Business & Consumer Credit – Overnight Price: $0.96

Petra Capital rates ((EML)) as Initiation of coverage with Buy (1) –

Petra Capital has initiated coverage of EML Payments with a Buy rating and target price of $1.70.

The broker notes the company’s performance in recent years was negatively affected by two acquisitions, but this is now rectified following the exit from both in 2024.

Commentary suggests the company, including its refreshed executive team, is now well-positioned to make decisions that could take it back to solid revenue growth phase.

The broker expects 33% EPS growth in FY26, and forecasts a 37.5% increase in FY27.

This report was published on May 15, 2025.

Target price is $1.70 Current Price is $0.96 Difference: $0.735
If EML meets the Petra Capital target it will return approximately 76% (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 4.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.44.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.36.

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

FBU    FLETCHER BUILDING LIMITED

Building Products & Services – Overnight Price: $3.11

Jarden rates ((FBU)) as Buy (1) –

Jarden expects Fletcher Building to provide details on operating model, capital structure and portfolio strategy at the investor day on June 24.

Ahead of that, the broker cut FY26 EBIT forecast to NZ$477m from NZ$528m on a slower infrastructure recovery.

On portfolio strategy, the analyst thinks Laminex may be monetised, housing could be restructured, NZ Steel would remain under review, and PlaceMakers will likely be retained. The broker also sees the company exiting domestic construction in 12-18 months.

Buy. Target lifted to NZ$4.30 from NZ$3.86 as the broker reduced market risk premium in its DCF calculation to reflect management stability.

This report was published on May 14, 2025.

Current Price is $3.11. Target price not assessed.
Current consensus price target is $3.04, suggesting upside of 0.7%(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 17.42 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.1, 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 21.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.77 cents and EPS of 20.06 cents.
At the last closing share price the estimated dividend yield is 4.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.7, implying annual growth of 32.6%.
Current consensus DPS estimate is 2.5, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 16.1.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

FFM    FIREFLY METALS LIMITED

Gold & Silver – Overnight Price: $0.94

Moelis rates ((FFM)) as Buy (1) –

Moelis believes the results from the first drilling round at FireFly Metals’ Rambler mine within Green Bay project reinforces the broader exploration potential.

The broker highlights the main Rambler mine shares many geological similarities with the Ming underground mine, and indicates the Green Bay project could evolve into a multi-mine precinct.

The company remains well funded to continue exploration with $68.5m in cash at the end of March.

Buy. Target unchanged at $1.50.

This report was published on May 15, 2025.

Target price is $1.50 Current Price is $0.94 Difference: $0.56
If FFM meets the Moelis target it will return approximately 60% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 2.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 33.57.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.80.

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

HPG    HIPAGES GROUP HOLDINGS LIMITED

Online media & mobile platforms – Overnight Price: $0.91

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

Canaccord Genuity has initiated coverage of hipages Group with a Buy rating and target price of $1.50.

The company listed on the ASX in 2020 at $2.45/share. Since then the business model has changed to a full subscription service from a subscription-transactional model.

The broker notes migration to the Tradiecore single tradie platform has been completed, and the NZ business has also transitioned to a subscription-only services.

This puts the company on a solid revenue trajectory, with the broker forecasting revenue growth at a 10% compounded annual rate, and cash EBIT margin expansion to 11% in FY27 from 4% in FY24.

As per commentary, key risks include tradie turnover on the platform, competition and the macroeconomic environment.

This report was published on May 15, 2025.

Target price is $1.50 Current Price is $0.91 Difference: $0.595
If HPG meets the Canaccord Genuity target it will return approximately 66% (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 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 90.50.

Forecast for FY26:

Canaccord Genuity 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 26.62.

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

IMM    IMMUTEP LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.30

Canaccord Genuity rates ((IMM)) as Buy (1) –

Canaccord Genuity highlights positive data from Immutep’s Insight-003 study, a phase 1 trial to assess the triple combination of efti plus pembrolizumab (pembro) in combination with chemo in non-small cell lung cancer.

The broker expects subsequent updates to reflect superior outcomes across key performance benchmarks. 

Buy. Target price 98c.

This report was published on May 15, 2025.

Target price is $0.98 Current Price is $0.30 Difference: $0.675
If IMM meets the Canaccord Genuity target it will return approximately 221% (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 7.63.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 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 7.63.

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

MVF    MONASH IVF GROUP LIMITED

Healthcare services – Overnight Price: $0.85

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

Wilsons reviewed Monash IVF’s outlook following the embryo mix-up incident that the company was aware of in February but confirmed in April following a media report.

A review is underway, with findings expected in the coming weeks. The broker believes it will likely be characterised as a rare, one-off incident and will have a modest financial and reputational impact.

FY26-27 revenue forecast cut by -2%. The broker highlights the company targeted 200bps EBITDA expansion by FY27 at the 1H25 result, and it is forecasting only a 100bps increase mainly from international portfolio contribution.

Overweight. Target weakened to $1.40 from $1.43.

This report was published on May 13, 2025.

Target price is $1.40 Current Price is $0.85 Difference: $0.55
If MVF meets the Wilsons target it will return approximately 65% (excluding dividends, fees and charges).
Current consensus price target is $1.30, suggesting upside of 52.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 5.40 cents and EPS of 7.70 cents.
At the last closing share price the estimated dividend yield is 6.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.04.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.0, implying annual growth of N/A.
Current consensus DPS estimate is 5.2, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 10.6.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 5.70 cents and EPS of 8.20 cents.
At the last closing share price the estimated dividend yield is 6.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.9, implying annual growth of -1.2%.
Current consensus DPS estimate is 5.2, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 10.8.

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

NEU    NEUREN PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $13.19

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

At a conference, Neuren Pharmaceuticals’ CEO stated 3Q25 will be the inflection point for Daybue as the over 30% new field force hired in April starts to have an impact.

Petra Capital notes the company is using predictive analysis to help field staff with data, and the target is 5,000 paediatric neurologists treating rett patients in the US regularly.

No immediate impact is seen from the tariffs, and EU approval for Daybue is expected in 1Q26. After that, it will take several months to negotiate with 27 individual member countries.

Buy. Target price $31.45.

This report was published on May 16, 2025.

Target price is $31.45 Current Price is $13.19 Difference: $18.26
If NEU meets the Petra Capital target it will return approximately 138% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 11.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 110.84.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 162.84.

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

NWS    NEWS CORPORATION

Print, Radio & TV – Overnight Price: $51.20

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

Jarden highlights News Corp’s 3Q25 result beat its forecasts across all metrics despite a softer REA Group ((REA)) outcome, with adjusted net profit ahead by 24%, and EBITDA 7% higher than expected.

Ex-REA Group, EBITDA beat the broker’s forecast by 16%. Among the strong performers was Dow Jones; within that, the risk and compliance unit stood out.

The analyst lifted FY25 EPS forecast by 6.5%. Overweight. Target rises to $54 from $53.

The broker estimates the market currently values the company ex-REA Group at $17.21-20.66/share, whereas its own valuation is $24.60/share.

This report was published on May 12, 2025.

Target price is $54.00 Current Price is $51.20 Difference: $2.8
If NWS meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $65.50, suggesting upside of 27.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 30.78 cents and EPS of 136.68 cents.
At the last closing share price the estimated dividend yield is 0.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.46.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 132.7, implying annual growth of N/A.
Current consensus DPS estimate is 39.0, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 38.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 30.78 cents and EPS of 147.91 cents.
At the last closing share price the estimated dividend yield is 0.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 34.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 160.0, implying annual growth of 20.6%.
Current consensus DPS estimate is 39.0, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 32.1.

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

NXS    NEXT SCIENCE LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.09

Wilsons – Cessation of coverage

This report was published on May 15, 2025.

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

PSC    PROSPECT RESOURCES LIMITED

New Battery Elements – Overnight Price: $0.14

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

Prospect Resources started a phase 2 drilling program at the Mumbezhi copper project in Zambia to extend existing resources and exploration drill holes to prove up to 420-1,050Mt exploration target.

The broker believes there is excellent potential for the conversion of the target to a resource. The company plans to deliver a scoping study by the end of 2025.

The broker updated its model for the $15m share placement last month and rolled forward valuation.

Speculative Buy. Target rises to 45c from 40c.

This report was published on May 14, 2025.

Target price is $0.45 Current Price is $0.14 Difference: $0.31
If PSC meets the Canaccord Genuity target it will return approximately 221% (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 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 14.00.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.00.

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

SLC    SUPERLOOP LIMITED

Telecommunication – Overnight Price: $2.48

Canaccord Genuity rates ((SLC)) as Buy (1) –

Canaccord Genuity’s optimistic view on Superloop is reflected in the outcome, with the company’s contract with Origin Energy ((ORG)) for wholesale internet services yielding stellar results so far.

The broker notes Origin has already reached the third milestone for subscriber growth, and the trajectory continues.

The milestone achievement is rewarded via Superloop shares, but because of share price appreciation and as the reward is on dollar value, the dilution is reduced.

Outside of this contract, the analyst sees the company as well-positioned to benefit from the internet market moving to higher speeds and to smaller brands, given it is a wholesaler.

FY26 EPS lifted by 4%. Target rises to $2.78 from $2.58. Buy retained.

This report was published on May 15, 2025.

Target price is $2.78 Current Price is $2.48 Difference: $0.3
If SLC meets the Canaccord Genuity target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $2.61, suggesting upside of 3.3%(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 6.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.01.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.3, 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 47.7.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.0, implying annual growth of 32.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 36.1.

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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Jarden rates ((SLC)) as Buy (1) –

Jarden notes Superloop’s announcement Origin Energy ((ORG)) will be issued 2.5m shares for reaching the third milestone after broadband subscribers exceeded the 200k mark.

While the share issue is already in the broker’s forecasts, the timing of milestone achievement was earlier than expected. As a result, the broker has upgraded estimates for Origin subscribers to 210k from 205k at the end of FY25.

Small lift in FY25 EPS forecast. Buy. Target price $2.60.

This report was published on May 14, 2025.

Target price is $2.60 Current Price is $2.48 Difference: $0.12
If SLC meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.61, suggesting upside of 3.3%(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 5.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.3, 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 47.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 9.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.0, implying annual growth of 32.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 36.1.

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

Superloop, the wholesale internet provider for Origin Energy ((ORG)), will pay the third milestone after the subscriber count exceeded the 200k mark as of May 13.

Wilsons notes this was a strong beat and there are five more milestones up to the 450k subscriber mark. Outside of this, Origin has its own goal of 600k subscribers by the end of FY26.

The broker believes this is a tall order, with even 250k subscriber additions in 13.5 months to reach the eighth milestone looking a challenge.

Overweight retained. No target price mentioned (was $2.48 on February 26).

This report was published on May 14, 2025.

Current Price is $2.48. Target price not assessed.
Current consensus price target is $2.61, suggesting upside of 3.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 95.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.3, 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 47.7.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.0, implying annual growth of 32.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 36.1.

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

WJL    WEBJET GROUP LIMITED

Travel, Leisure & Tourism – Overnight Price: $0.89

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

Webjet Group received a non-binding proposal from BGH Capital to acquire a controlling stake, which follows its recent share purchases to acquire a substantial 5.9% interest, in co-operation with Ariadne.

Wilsons was initially puzzled by the controlling interest plan, rather than a takeover. But this was likely because the 80c price offered is a discount to the last traded price of 89c.

The broker also notes BGH paid a significant 32% premium while buying shares in April. In any case, the analyst believes a price increase will be needed to convince a majority of shareholders to sell.

Overweight. Target unchanged at 90c.

This report was published on May 14, 2025.

Target price is $0.90 Current Price is $0.89 Difference: $0.01
If WJL meets the Wilsons target it will return approximately 1% (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 5.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.80.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 2.90 cents and EPS of 5.10 cents.
At the last closing share price the estimated dividend yield is 3.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.45.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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