Weekly Reports | Jul 04 2025
This story features BREVILLE GROUP LIMITED, and other companies.
For more info SHARE ANALYSIS: BRG
The company is included in ASX200, ASX300 and ALL-ORDS
Broker Rating Changes (Post Thursday Last Week)
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BREVILLE GROUP LIMITED ((BRG)) Upgrade to Overweight from Neutral by Jarden.B/H/S: 0/0/0
Jarden upgrades Breville Group to Overweight from Neutral while lowering the target price to $31 from $32.10, as the reaction to tariffs on the stock appears to have been too extensive.
The analyst has assumed circa 55% tariff rate on products from China to the US, and FY26 EPS estimate declines by -12%, with FY27/FY28 down by -6% and -7%, respectively.
Cost of goods sold is expected to be a headwind in FY26, offset by some lower costs as product manufacturing is relocated to other lower tariff geographies.
As Breville’s competitors are experiencing the same tariff issues, Jarden believes the impacts are “broad-based” and will be transitory.
The analyst continues to view the longer-term growth prospects as positive for the premium brand, with Asia and China the largest opportunity.
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OBJECTIVE CORPORATION LIMITED ((OCL)) Downgrade to Hold from Buy by Moelis.B/H/S: 0/0/0
Moelis highlights Objective Corp’s software products help resolve housing development bottlenecks by boosting efficiency of planning and approval processes.
The company made progress recently with the acquisition of NZ-based Isovist which the broker reckons will add a further NZ$2.2m to annual recurring revenue.
The company also announced the launch of Objective Build in Australia, noting it has been adopted by over 50% of councils in NZ.
The Objective Build debut in Australia is expected to unlock a market four times the size of New Zealand.
Target price lifted to $20.19 from $17.71. Rating downgraded to Hold from Buy.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Upgrade | |||||
| 1 | BREVILLE GROUP LIMITED | Buy | Neutral | Jarden | |
| Downgrade | |||||
| 2 | OBJECTIVE CORPORATION LIMITED | Neutral | Buy | Moelis | |
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| APA | APA Group | $8.39 | Jarden | 8.90 | 8.85 | 0.56% |
| AQZ | Alliance Aviation Services | $2.65 | Wilsons | 3.89 | 3.93 | -1.02% |
| AZJ | Aurizon Holdings | $3.14 | Jarden | 3.10 | 3.15 | -1.59% |
| BKW | Brickworks | $34.61 | Jarden | 34.40 | 32.30 | 6.50% |
| BRG | Breville Group | $30.31 | Jarden | 31.00 | 32.10 | -3.43% |
| GNP | GenusPlus Group | $4.14 | Moelis | 4.40 | 3.39 | 29.79% |
| IAG | Insurance Australia Group | $8.58 | Jarden | 8.40 | 8.00 | 5.00% |
| MAH | Macmahon Holdings | $0.32 | Petra Capital | 0.41 | 0.39 | 5.13% |
| MGR | Mirvac Group | $2.25 | Jarden | 2.45 | 2.50 | -2.00% |
| MTO | Motorcycle Holdings | $3.20 | Moelis | 3.38 | 2.85 | 18.60% |
| OCL | Objective Corp | $18.97 | Moelis | 20.19 | 17.71 | 14.00% |
| PXA | Pexa Group | $12.81 | Jarden | 16.20 | 15.25 | 6.23% |
| SLC | Superloop | $3.03 | Jarden | 3.00 | 2.60 | 15.38% |
| Wilsons | 3.44 | 2.85 | 20.70% | |||
| SUN | Suncorp Group | $20.81 | Jarden | 22.00 | 19.95 | 10.28% |
| XRO | Xero | $176.50 | Jarden | 207.00 | 197.00 | 5.08% |
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
AQZ ALLIANCE AVIATION SERVICES LIMITED
Transportation & Logistics Overnight Price: $2.59
Wilsons rates ((AQZ)) as Overweight (1)
Wilsons notes investors concerned with Alliance Aviation Services’ debt profile will be comforted by the engine and inventory sales announcement, which will bring in around $62.3m.
The sales demonstrate the company’s focus on capital efficiency and achieve a more rapid balance sheet deleveraging, the broker highlights.
Minor changes to FY25 forecasts. The broker now expects the company to reduce its first dividend in 1H26 vs the previous forecast of 2H26, with a payout ratio expected at 20%. This is forecast to rise to 50% in FY27.
Overweight. Target price $3.89.
This report was published on June 30, 2025.
Target price is $3.89 Current Price is $2.59 Difference: $1.3
If AQZ meets the Wilsons target it will return approximately 50% (excluding dividends, fees and charges).
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 37.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.00.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 7.50 cents and EPS of 35.80 cents.
At the last closing share price the estimated dividend yield is 2.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.23.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AUE AURUM RESOURCES LIMITED
Gold & Silver Overnight Price: $0.46
Petra Capital rates ((AUE)) as Buy (1)
Aurum Resources started a 30,000 drill program at the Napie gold project aimed at increasing the existing 868koz inferred resource, which is mostly at a 150m depth.
Petra Capital believes there is strong potential to grow the project into a multi-ounce one, as only 4.4km of the 30km zone has been tested to date.
Update resource expected by the end of 2025. Buy. Target unchanged at 95c.
This report was published on June 30, 2025.
Target price is $0.95 Current Price is $0.46 Difference: $0.49
If AUE meets the Petra Capital target it will return approximately 107% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GNP GENUSPLUS GROUP LIMITED
Infrastructure & Utilities Overnight Price: $3.85
Moelis rates ((GNP)) as Buy (1)
GenusPlus Group has upgraded FY25 earnings guidance, now targeting earnings (EBITDA) of $6266m, up from a normalised FY24 base of $45.3m, observes Moelis.
The uplift reflects both early project completions and acquisition contributions, explain the analysts, with $46m expected from recent deals. Second-half FY25 earnings are forecast at $36.5m, implying to the broker 32% growth half-on-half.
Moelis sees positive momentum heading into FY26, underpinned by recent wins including a $20m Arc Infrastructure rail project and major contracts with NBN ($130m) and Atmos Renewables ($65m for a 100MW Battery Energy Storage System).
Also, the broker points out the acquisition of MGC Solutions is already demonstrating capability and value.
Moelis notes upside risk from further contract conversion in transmission and energy transition work, alongside improving performance in the Communications segment.
The broker maintains a Buy rating and lifts its target price to $4.40 from $3.39, citing the $1.5bn order book and growing recurring revenue base as key supports for earnings momentum.
This report was published on June 26, 2025.
Target price is $4.40 Current Price is $3.85 Difference: $0.55
If GNP meets the Moelis target it will return approximately 14% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 3.60 cents and EPS of 18.80 cents.
At the last closing share price the estimated dividend yield is 0.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.48.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 4.00 cents and EPS of 22.30 cents.
At the last closing share price the estimated dividend yield is 1.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.26.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
KE IKEGPS GROUP LIMITED
Hardware & Equipment Overnight Price: $0.83
Moelis rates ((IKE)) as Initiation of coverage with Buy (1)
Moelis has initiated coverage of ikeGPS Group with a Buy rating and target price of $1.01.
The broker notes the company’s devices and software technology help to manage and unify the data needed to maintain the electricity distribution networks. Additional electricity demand from electric vehicles and data centres has created more demand for the company’s software.
The broker estimates demand from US-based utilities to upgrade or repair 25m poles each year creates a US$2.8bn market for services linked to network build and resilience.
The analyst is forecasting positive EBITDA in FY27, based on recent strong subscriber growth momentum and the outlook for capital spend on network by utilities in the US.
This report was published on June 30, 2025.
Target price is $1.01 Current Price is $0.83 Difference: $0.175
If IKE meets the Moelis target it will return approximately 21% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.65 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 31.56.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.46 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 183.11.
This company reports in NZD. 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
PXA PEXA GROUP LIMITED
Real Estate Overnight Price: $13.54
Jarden rates ((PXA)) as Neutral (3)
Jarden notes NSW settlement activity improved in June, with total volumes up 8% y/y vs -3% y/y in May as transfer activity rose 1% and refinancing rose by a very strong 18% y/y vs 6% y/y in May.
There was no improvement, however, in Queensland, with the latest data for May showing a -5% y/y decline, similar to April.
The broker lowered the FY25 volume forecast marginally but lifted the target price to $16.20 from $15.25 on a lower risk-free rate assumption.
Neutral retained.
This report was published on July 1, 2025.
Target price is $16.20 Current Price is $13.54 Difference: $2.66
If PXA meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $15.26, suggesting upside of 15.2%(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 minus 2.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 615.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.8, 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 228.4.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 16.69 cents and EPS of 43.40 cents.
At the last closing share price the estimated dividend yield is 1.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 39.5, implying annual growth of 581.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 33.5.
Market Sentiment: 0.8
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: BRG - BREVILLE GROUP LIMITED
For more info SHARE ANALYSIS: OCL - OBJECTIVE CORPORATION LIMITED