Daily Market Reports | 10:30 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.
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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)
BPT CAR EVN GGP HSN HUB (3) JHX KAR NEC ORG STO TYR WDS WTC
GGP GREATLAND RESOURCES LIMITED
Gold & Silver - Overnight Price: $6.78
Jarden rates ((GGP)) as Initiation of coverage with Overweight (2) -
Jarden has initiated coverage of Greatland Resources with an Overweight rating and target price of $6.20.
The broker believes the company offers a unique offering in the mid-cap gold space. The key positive is a free cash flow generating Telfer operation, which is expected to generate enough cash to fund the Havieron development.
The analyst is modelling a five-year mining inventory plus one year of stockpiles for Telfer. For the Haverion development and expansion, the broker is forecasting total remaining capex of -$1.3-1.4bn, and expects production to transition there from FY28.
Target price of $6.20 is based on gold price forecast of US$2,400/oz and AUD/USD exchange rate of $0.70.
This report was published on July 11, 2025.
Target price is $6.20 Current Price is $6.78 Difference: minus $0.58 (current price is over target).
If GGP meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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 50.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.37.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 56.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.02.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HSN HANSEN TECHNOLOGIES LIMITED
IT & Support - Overnight Price: $5.62
Moelis rates ((HSN)) as Buy (1) -
Hansen Technologies lifted its EBITDA guidance for FY25 by 9-11% above the top end of the previous range despite lowering revenue guidance by -2.4%.
Moelis assumes a combination of higher margins in 2H25 from operational efficiency and from higher-margin licence fees.
The analyst cut revenue forecasts but raised margin estimates, resulting in a 24% lift to the net profit forecast for FY25 and a 7.1% increase for the FY26 estimate.
Buy. Target rises to $6.60 from $6.00.
This report was published on July 14, 2025.
Target price is $6.60 Current Price is $5.62 Difference: $0.98
If HSN meets the Moelis target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $6.95, suggesting upside of 23.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 11.00 cents and EPS of 25.40 cents.
At the last closing share price the estimated dividend yield is 1.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.13.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.8, implying annual growth of 119.9%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 24.6.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 13.00 cents and EPS of 27.90 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 20.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 27.4, implying annual growth of 20.2%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 20.5.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HUB HUB24 LIMITED
Wealth Management & Investments - Overnight Price: $99.22
Jarden rates ((HUB)) as Underweight (4) -
Jarden notes Hub24 reported 4Q25 custodial funds under administration which met expectations, with net flows better than anticipated.
The analyst is increasingly positive on the flow outlook for FY26, with managed accounts expected to offset an easing in adviser growth.
Barring any market shocks, like those seen in April this year, Jarden believes Hub24 is most likely to exceed the upper end of its FY26 custodial funds under administration guidance.
There is no change to the Underweight rating, due to the 55% rise in the share price over the last six months and the valuation ascribed to the stock for a forecast compound average growth rate in two-year EPS of 24.7%.
Target advances to $84.50 from $79.50. The analyst tweaks EPS estimates ahead of FY25 results.
This report was published on July 15, 2025.
Target price is $84.50 Current Price is $99.22 Difference: minus $14.72 (current price is over target).
If HUB meets the Jarden target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $87.43, suggesting downside of -11.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 57.90 cents and EPS of 117.60 cents.
At the last closing share price the estimated dividend yield is 0.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 84.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 110.7, implying annual growth of 90.4%.
Current consensus DPS estimate is 52.9, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 89.6.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 76.70 cents and EPS of 153.80 cents.
At the last closing share price the estimated dividend yield is 0.77%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 64.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 142.3, implying annual growth of 28.5%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 69.7.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Moelis rates ((HUB)) as Downgrade to Hold from Buy (3) -
Moelis downgrades Hub24 to Hold from Buy due to the stock's valuation, but the analyst acknowledges robust market conditions will most likely underscore a strong share price.
The platform's 4Q25 update continued to reflect strong momentum, with net flows of $5.3bn, higher than both the analyst's and consensus forecasts, excluding large transitions of $1.2bn, above Moelis' forecast of $0.9bn.
The Equity Trustees ((EQT)) migrations have now been completed.
The most recent Plan for Life data in March showed HUB had achieved the largest quarterly and annual market share gains of all the platform providers, up to 8.7% from 7.2% in March.
Adviser growth rose 12.6% on a year earlier, which is considered a good indicator of future flows.
Moelis lifts EPS forecasts by 4.4% for FY25 and 11% for FY26, with an accompanying rise in the target price to $107.94.
This report was published on July 16, 2025.
Target price is $107.94 Current Price is $99.22 Difference: $8.72
If HUB meets the Moelis target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $87.43, suggesting downside of -11.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 55.50 cents and EPS of 114.10 cents.
At the last closing share price the estimated dividend yield is 0.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 86.96.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 110.7, implying annual growth of 90.4%.
Current consensus DPS estimate is 52.9, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 89.6.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 74.90 cents and EPS of 153.80 cents.
At the last closing share price the estimated dividend yield is 0.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 64.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 142.3, implying annual growth of 28.5%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 69.7.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((HUB)) as Market Weight (3) -
Wilsons notes underlying net flows for Hub24's 4Q24 update came in at $4.1bn, ahead of forecast and above consensus, with market movement adding 4.8% and Equity Trustees (EQT) migration a further $1.2bn.
Custodial funds under administration of $112.7bn were as expected, with adviser growth up 82% on the previous quarter, which is a tad weaker than prior quarters.
The analyst notes the trend of new distribution agreements, up 35% on the previous quarter, compares well to the two-year average at 31.2% and underscores the ongoing net flows growth.
Wilsons expects another robust year ahead, with momentum expected to continue. Market weight. Target $90.62.
This report was published on July 15, 2025.
Target price is $90.62 Current Price is $99.22 Difference: minus $8.6 (current price is over target).
If HUB meets the Wilsons target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $87.43, suggesting downside of -11.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 51.00 cents and EPS of 115.20 cents.
At the last closing share price the estimated dividend yield is 0.51%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 86.13.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 110.7, implying annual growth of 90.4%.
Current consensus DPS estimate is 52.9, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 89.6.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 67.50 cents and EPS of 151.40 cents.
At the last closing share price the estimated dividend yield is 0.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 65.54.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 142.3, implying annual growth of 28.5%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 69.7.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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