Daily Market Reports | 10:37 AM
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
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ANZ CSL CXO D2O GTK (4) LIN MM8 NHC RHC
ANZ ANZ GROUP HOLDINGS LIMITED
Banks - Overnight Price: $28.85
Jarden rates ((ANZ)) as Overweight (2) -
Jarden notes ANZ Bank's new CEO Nuno Matos articulated two key priorities in his first week; accelerated pace of delivery and accountability, and uplift in risk management approach.
The broker concurs but also wonders if Matos would pursue goals far greater than an IT repair job and a bank migration.
Additionally, the broker believes Matos should aim to emulate CommBank's ((CBA)) consistency, reliability and predictability approach.
Overweight. Target unchanged at $30.
This report was published on May 16, 2025.
Target price is $30.00 Current Price is $28.85 Difference: $1.15
If ANZ meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $27.25, suggesting downside of -5.5%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 166.00 cents and EPS of 227.80 cents.
At the last closing share price the estimated dividend yield is 5.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 227.7, implying annual growth of 4.5%.
Current consensus DPS estimate is 164.0, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 12.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 166.00 cents and EPS of 232.30 cents.
At the last closing share price the estimated dividend yield is 5.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 221.2, implying annual growth of -2.9%.
Current consensus DPS estimate is 162.8, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 13.0.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CSL CSL LIMITED
Pharmaceuticals & Biotech/Lifesciences - Overnight Price: $245.21
Jarden rates ((CSL)) as Overweight (2) -
Jarden's Overweight rating on CSL is largely based on expectations of a recovery in gross margin at its Behring division, and a majority of that is linked to donor fees.
The broker recently surveyed the company's sites for donor fee trends, and discovered a -10.9% reduction for new donors and -8.9% cut for return donors. For context, donor fees were raised during covid to boost collections.
The analyst expects gross margin improvements of 150bps in 2H26 and 115bps in 1H27 from fee reductions identified, and has factored in margin improvements from other sources.
All in all, the broker is now more confident of its forecast for 220bps margin improvement in 2H26 and 280bps in 1H27.
Overweight. Target rises to $317.61 from $314.37.
This report was published on May 18, 2025.
Target price is $317.61 Current Price is $245.21 Difference: $72.4
If CSL meets the Jarden target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $327.51, suggesting upside of 33.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 403.39 cents and EPS of 926.25 cents.
At the last closing share price the estimated dividend yield is 1.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1011.4, implying annual growth of N/A.
Current consensus DPS estimate is 463.0, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 24.2.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 443.57 cents and EPS of 996.61 cents.
At the last closing share price the estimated dividend yield is 1.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1162.4, implying annual growth of 14.9%.
Current consensus DPS estimate is 527.1, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 21.1.
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: $0.09
Petra Capital rates ((CXO)) as Buy (1) -
Petra Capital highlights the restart plan for Core Lithium's Finniss lithium mine is a positive development, with the study showing lower operating costs, larger capacity and doubling of mine life.
But it also requires capex funding, and the broker has assumed -$160m in equity raising. The equity portion could be lower if the company pursues non-dilutive options like project sell-down, prepayments or debt.
The broker has factored in equity dilution and mine restart study numbers into the forecasts.
Buy. Target price 14c.
This report was published on May 19, 2025.
Target price is $0.14 Current Price is $0.09 Difference: $0.05
If CXO meets the Petra Capital target it will return approximately 56% (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 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.00.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.18.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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