Daily Market Reports | Jun 11 2025
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)
ADT AIM ARB ARF ASK BC8 BWP CAT CHC CNI CU6 (2) CXO CY5 DGL DMP DXS EVN GPT HGO HMC IPX LIN MGR MMI MTM NVX OBM (2) RHC SCG SGP SVM TRE
ADT ADRIATIC METALS PLC
Gold & Silver - Overnight Price: $5.10
Canaccord Genuity rates ((ADT)) as Downgrade to Hold from Speculative Buy (3) -
Canaccord Genuity lowers its recommendation on Adriatic Metals to Hold from Speculative Buy, while raising the target price to $5.50 from $4.55, following a 40% rally in the share price. The uplift was driven by confirmed M&A interest from Dundee Precious Metals.
The broker views Dundee as a logical suitor given its nearby European operations, but notes there is no guarantee a formal offer will eventuate.
Adriatics ramp-up at the Vares silver project is progressing, note the analysts, with commercial production expected by the June quarter. FY25 earnings (EBITDA) are forecast at US$78.8m, rising to US$165.5m in FY26.
Canaccord removes prior risk discounts in light of strategic interest and expects positive free cash flow from 2025 onward,. All-in sustaining costs (AISC) are expected to fall to US$15.85/oz and US$14.14/oz in 2026 and 2027, respectively.
This report was published on June 5, 2025.
Target price is $5.50 Current Price is $5.10 Difference: $0.4
If ADT meets the Canaccord Genuity target it will return approximately 8% (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 26.21 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.46.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 53.96 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.45.
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: $0.58
Petra Capital rates ((AIM)) as Buy (1) -
Petra Capital believes the departure of a few executives at Ai-Media Technologies suggests a faster move towards a clean-skin technology business and away from services.
The broker is assuming redundancies in human captioning, which it expects to be decommissioned in the near term. The analyst expects impact on revenue but no change to the underlying EBITDA forecasts.
The broker expects LEXI Voice to be provided to customers for demonstration purposes, and its take up to boost margins in future years.
Buy. Target unchanged at $1.35.
This report was published on June 5, 2025.
Target price is $1.35 Current Price is $0.58 Difference: $0.765
If AIM meets the Petra Capital target it will return approximately 131% (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 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 53.18.
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 58.50.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ARB ARB CORPORATION LIMITED
Automobiles & Components - Overnight Price: $31.64
Canaccord Genuity rates ((ARB)) as Hold (3) -
Canaccord Genuity has observed the first price rise since the analyst started tracking prices in the US in March this year and explains the rise is most likely related to tariffs as they are not directly related to all products or across all channels.
The broker interprets the price increase as designed to protect margins as much as possible against the tariff backdrop and highlights the greater risks are to unit volumes.
At this stage, there are no changes to the analyst's earnings forecasts but downside risks are considered for US divisional estimates from price rises and the market elasticity to the increases.
Hold. Target unchanged at $34.70.
On June 4 a prior update was released:
Canaccord Genuity highlights sales for the top 11 models relevant to ARB Corp rose 6.3% y/y in May and were up 22.5% sequentially, marking the first positive outcome in 12 months.
Toyota Prado was a huge outperformer and the key contributor, thanks to a low base and very high sales growth due to a new model. The broker notes elevated sales in Prado are positive because it is a fitment-friendly vehicle.
Hold. Target unchanged at $34.70.
This report was published on June 6, 2025.
Target price is $34.70 Current Price is $31.64 Difference: $3.06
If ARB meets the Canaccord Genuity target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $39.12, suggesting upside of 23.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 69.00 cents and EPS of 124.00 cents.
At the last closing share price the estimated dividend yield is 2.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 124.7, implying annual growth of -0.2%.
Current consensus DPS estimate is 68.5, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 25.3.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 73.00 cents and EPS of 132.00 cents.
At the last closing share price the estimated dividend yield is 2.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 139.4, implying annual growth of 11.8%.
Current consensus DPS estimate is 75.6, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 22.7.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ARF ARENA REIT
REITs - Overnight Price: $3.88
Jarden rates ((ARF)) as Overweight (2) -
Ahead of Arena REIT's FY25 results on August 13, Jarden has left its forecasts unchanged.
The broker expects the focus to be on FY26 guidance, noting its 6.9% FFO and 5.7% DPU growth forecasts are ahead of consensus.
Overweight. Target unchanged at $4.55.
This report was published on June 6, 2025.
Target price is $4.55 Current Price is $3.88 Difference: $0.67
If ARF meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $4.25, suggesting upside of 7.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 18.20 cents and EPS of 18.60 cents.
At the last closing share price the estimated dividend yield is 4.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.6, implying annual growth of 15.6%.
Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 21.3.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 19.20 cents and EPS of 19.90 cents.
At the last closing share price the estimated dividend yield is 4.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.4, implying annual growth of 4.3%.
Current consensus DPS estimate is 19.1, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 20.4.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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