Daily Market Reports | Jul 31 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.
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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)
ALK BCI BOE BOT GGP IMD NXL OBM S32 SFR TNE VAU WDS
SFR SANDFIRE RESOURCES LIMITED
Copper - Overnight Price: $11.11
Canaccord Genuity rates ((SFR)) as Buy (1) -
Canaccord retained its Buy rating and $12.00 target. While the company is restarting its DeGrussa processing plant for oxide stockpiles and possible third-party tolling, the earnings impact is expected to be modest given a short six-month processing window.
Optimism around higher copper prices is seen as reflected in Sandfire's recent outperformance, but Canaccord questions how sustainable this rally is.
Cost pressures remain across operations, and the broker warns valuation is now less compelling relative to peers.
Also, commentary notes the company plans to update the market on its capital management policy at the FY25 result next month, also noting the grossed up franking credit balance of US$260m.
This report was published on July 30, 2025.
Target price is $12.00 Current Price is $11.11 Difference: $0.89
If SFR meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $11.28, suggesting upside of 5.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 7.73 cents and EPS of 43.30 cents.
At the last closing share price the estimated dividend yield is 0.70%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 45.1, 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 23.7.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 15.46 cents and EPS of 80.41 cents.
At the last closing share price the estimated dividend yield is 1.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 71.8, implying annual growth of 59.2%.
Current consensus DPS estimate is 9.7, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 14.9.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TNE TECHNOLOGY ONE LIMITED
IT & Support - Overnight Price: $40.30
Jarden rates ((TNE)) as Initiation of coverage with Overweight (2) -
Jarden initiates coverage on TechnologyOne with an Overweight rating and $44.82 price target. Despite an elevated valuation, the analysts believe it is justified by the company's quality, robust forecast earnings, and additional upside potential.
The broker believes the company is one of the highest-quality names in its technology coverage, citing best-in-class Rule of 40 metrics, consistent net revenue retention and pricing power. A defensible customer base reliant on mission-critical software is also noted.
The broker expects $1bn in annual recurring revenue (ARR) by FY29, one year ahead of guidance, with profit forecasts for FY25–27 sitting 2–5% above consensus forecasts.
Jarden sees medium-term earnings (EBITDA) upside potential if management launches new or augmented AI products, successfully executes its SaaS-Plus strategy, and sustains UK momentum.
The SaaS-Plus initiative is viewed by the analysts as transformational, helping to de-risk implementation, reduce pipeline congestion, and drive operational leverage.
This report was published on July 29, 2025.
Target price is $44.82 Current Price is $40.30 Difference: $4.52
If TNE meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $37.58, suggesting downside of -9.0%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 EPS of 43.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 93.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 42.2, implying annual growth of 16.4%.
Current consensus DPS estimate is 25.9, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 97.8.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 52.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 76.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 50.0, implying annual growth of 18.5%.
Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 82.6.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
VAU VAULT MINERALS LIMITED
Gold & Silver - Overnight Price: $0.38
Canaccord Genuity rates ((VAU)) as Buy (1) -
Canaccord Genuity has retained its Buy rating and $0.75 target price, despite lowering FY25–26 forecasts after a softer-than-expected June quarter. Sales for FY25 landed at 385koz, marginally below guidance, with AISCs at $2,422/oz, inside the range.
Commentary explains lower production from KOTH and Mt Monger offset a beat at Deflector, while contract re-negotiations at Deflector led to 13% QoQ cost inflation.
Cash rose to $686m, underpinned by strong FCF and despite a -$31m stamp duty payment. FY26 forecasts now assume 354koz at AISCs $2,608/oz, with reduced contribution from Deflector and delayed Sugar Zone production.
The stock trades at a 0.51x P/NAV discount, and Canaccord believes near-term catalysts include updated cost modelling, strategic site-level decisions, and FY26 guidance due in the September quarter.
This report was published on July 30, 2025.
Target price is $0.75 Current Price is $0.38 Difference: $0.37
If VAU meets the Canaccord Genuity target it will return approximately 97% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WDS WOODSIDE ENERGY GROUP LIMITED
NatGas - Overnight Price: $26.57
Jarden rates ((WDS)) as Overweight (2) -
Woodside Energy will assume operatorship of Bass Strait from ExxonMobil in 2026 and expects up to $60m in annual cost synergies, observes Jarden.
The broker highlights plans to develop up to four new gas wells, targeting 200 PJ of discovered but contingent resources, which could add up to 35cps in value.
While no changes have been made to decommissioning provisions, recent offshore cost increases elsewhere raise concern over potential future Bass Strait liabilities, according to the analysts.
The broker attributes recent share price gains to stronger oil prices, upgraded production guidance, and investor rotation from Santos ((STO)). Valuation support is expected should a Louisiana LNG sell-down occur by end-2025.
Jarden makes no changes to financial forecasts. Unchanged Overweight rating and $25.75 target price..
This report was published on July 29, 2025.
Target price is $25.75 Current Price is $26.57 Difference: minus $0.82 (current price is over target).
If WDS meets the Jarden target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $26.42, suggesting downside of -0.2%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 134.53 cents and EPS of 170.56 cents.
At the last closing share price the estimated dividend yield is 5.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 174.7, implying annual growth of N/A.
Current consensus DPS estimate is 139.1, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 15.2.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 80.41 cents and EPS of 101.44 cents.
At the last closing share price the estimated dividend yield is 3.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 117.9, implying annual growth of -32.5%.
Current consensus DPS estimate is 93.6, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 22.5.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
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.