Australian Broker Call *Extra* Edition – Jul 21, 2025

Daily Market Reports | 10:30 AM

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)

AEL (2)   CAY   CRD   EBO   EHL   EVN   FFM   GMD   GOR   IMD   IMM   MND   NWH   PSC   SYL   VYS  

PSC    PROSPECT RESOURCES LIMITED

New Battery Elements - Overnight Price: $0.19

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

Canaccord Genuity highlights the metallurgical results from Prospect Resources' Mumbezhi copper project in Zambia are highly encouraging and represent a significant de-risking milestone for the project.

The broker is particularly impressed with the 9.1% cobalt in the concentrate grade as it is unique among copper deposts and could mean an equal dollar value contained for both cobalt and copper.

Speculative Buy. Target unchanged at 45c.

This report was published on July 17, 2025.

Target price is $0.45 Current Price is $0.19 Difference: $0.26
If PSC meets the Canaccord Genuity target it will return approximately 137% (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 19.00.

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 9.50.

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

SYL    SYMAL GROUP LIMITED

Industrial Sector Contractors & Engineers - Overnight Price: $1.73

Jarden rates ((SYL)) as Buy (1) -

At Symal Group's maiden FY25 result, Jarden will be looking for commentary on how the company achieved the 11.7% 2H EBITDA margin guided last month. This will help the broker assess if the margin will be sustained into FY26.

The analyst will also be looking for any formal capital management framework, given the company is expected to exit FY25 in a net cash position of $41m.

No change to forecasts. Buy with $2.50 target price.

This report was published on July 16, 2025.

Target price is $2.50 Current Price is $1.73 Difference: $0.77
If SYL meets the Jarden target it will return approximately 45% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 9.30 cents and EPS of 24.70 cents.
At the last closing share price the estimated dividend yield is 5.38%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.00.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.20 cents and EPS of 24.40 cents.
At the last closing share price the estimated dividend yield is 7.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.09.

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

VYS    VYSARN LIMITED

Industrial Sector Contractors & Engineers - Overnight Price: $0.54

Wilsons rates ((VYS)) as Initiation of coverage with Overweight (1) -

Wilsons highlights Vysarn's leadership in groundwater management and its positioning to benefit from rising demand for sustainable water solutions. Coverage is initiated with an Overweight rating and a 12-month target price of 65c.

The broker sees strong organic growth potential, complemented by geographic expansion opportunities on Australias east coast, where groundwater-intensive industries face similar sustainability challenges.

The analysts also point to future upside from Vysarns potential entry into water asset management, drawing parallels with the value uplift seen in the Murray-Darling Basin.

The broker's FY25 earnings forecasts align with current run-rate metrics, with FY26 growth expected to come from recent acquisitions and improved industrial utilisation. Advisory and technology segment expansion are also expected to contribute to growth.

This report was published on July 17, 2025.

Target price is $0.65 Current Price is $0.54 Difference: $0.11
If VYS meets the Wilsons target it will return approximately 20% (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 2.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.55.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.29.

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

Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.

This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.