Australian Broker Call *Extra* Edition – Aug 12, 2025

This story features ADAIRS LIMITED, and other companies.
For more info SHARE ANALYSIS: ADH
The company is included in ASX300 and ALL-ORDS

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)

ADH   AEE   AGE   AOV   AR9   AV1   AVA   BET   BMN   BWP   CAR   CCX   CGS   CHL   CIP   CKF   CTD   EGG   EML   FPR   GDG   HUB   IPH   JBH   JLG   KGN   KMD   LIC   LIN   MAP   MAQ   MMS   NCK (2)   NEU   NWL   NXG   NXT   PRN   QOR   SGLLV   VGL   WEB  

ADH    ADAIRS LIMITED

Furniture & Renovation – Overnight Price: $2.15

Canaccord Genuity rates ((ADH)) as Buy (1) –

Ahead of Adairs’ FY25 result, Canaccord Genuity forecasts EBITDA of $67.7m vs consensus of $68.7m.

The broker will look ahead of progress on strategy and for confirmation that Focus on Furniture business is turning around.

Buy. Target price $2.95.

This report was published on August 8, 2025.

Target price is $2.95 Current Price is $2.15 Difference: $0.8
If ADH meets the Canaccord Genuity target it will return approximately 37% (excluding dividends, fees and charges).
Current consensus price target is $2.34, suggesting upside of 8.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 13.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 6.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.8, implying annual growth of 4.9%.
Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 11.4.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 17.00 cents and EPS of 26.00 cents.
At the last closing share price the estimated dividend yield is 7.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.3, implying annual growth of 13.3%.
Current consensus DPS estimate is 12.7, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 10.1.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AEE    AURA ENERGY LIMITED

Energy – Overnight Price: $0.17

Petra Capital rates ((AEE)) as Buy (1) –

Petra Capital notes the 2025 edition of the World Nuclear Association’s biennial report is due in September, and it expects to show nuclear power utilities about a enter a fresh period of long-term uranium supply deals with producers.

This would be supportive of the sector broadly, the broker reckons, with greatest upside potential in lesser-known producers like Aura Energy.

The broker believes the market is not yet fully valuing the Tiris uranium project. While similar projects could emerge over time, Tiris is considered different due to its large, provincial-scale potential.

Buy. Target price 40c.

This report was published on August 7, 2025.

Target price is $0.40 Current Price is $0.17 Difference: $0.23
If AEE meets the Petra Capital target it will return approximately 135% (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 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 56.67.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 85.00.

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

AGE    ALLIGATOR ENERGY LIMITED

Uranium – Overnight Price: $0.02

Petra Capital rates ((AGE)) as Buy (1) –

Petra Capital notes the 2025 edition of the World Nuclear Association’s biennial report is due in September, and it expects to show nuclear power utilities about to enter a fresh period of long-term uranium supply deals with producers.

This would be supportive of the sector broadly, the broker reckons.

Alligator Energy is awaiting approval of its Program for Environment Protection and Rehabilitation, a regulatory requirement in South Australia for mining projects.

Mobilisation is expected in the September quarter, with the first reagent trial targeted by the end of this year.

Buy. Target price 7c.

This report was published on August 7, 2025.

Target price is $0.07 Current Price is $0.02 Difference: $0.05
If AGE meets the Petra Capital target it will return approximately 250% (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

AOV    AMOTIV LIMITED

Automobiles & Components – Overnight Price: $9.05

Canaccord Genuity rates ((AOV)) as Buy (1) –

Ahead of Amotiv’s FY25 result, Canaccord Genuity notes the company’s pre-released slight revenue growth and EBITDA decline vs FY24, in line with guidance.

The broker will look for adjustments to the underlying numbers and operating cash flow.

Buy. Target price $11.

This report was published on August 8, 2025.

Target price is $11.00 Current Price is $9.05 Difference: $1.95
If AOV meets the Canaccord Genuity target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $11.23, suggesting upside of 24.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 41.00 cents and EPS of 88.00 cents.
At the last closing share price the estimated dividend yield is 4.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 80.0, implying annual growth of 13.2%.
Current consensus DPS estimate is 39.5, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 11.3.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 42.00 cents and EPS of 98.00 cents.
At the last closing share price the estimated dividend yield is 4.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 82.7, implying annual growth of 3.4%.
Current consensus DPS estimate is 40.4, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 10.9.

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

AR9    ARCHTIS LIMITED

Software & Services – Overnight Price: $0.21

Canaccord Genuity rates ((AR9)) as Buy (1) –

Canaccord Genuity has a Buy rating and 35c target price on archTIS.

This report was published on August 8, 2025.

Target price is $0.35 Current Price is $0.21 Difference: $0.14
If AR9 meets the Canaccord Genuity target it will return approximately 67% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

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

AV1    ADVERITAS LIMITED

Software & Services – Overnight Price: $0.17

Taylor Collison rates ((AV1)) as Speculative Buy (1) –

Adveritas’ annual recurring revenue rose 62% y/y in FY25 to $10.5m and rose further to $10.8m in July, with Taylor Collison commenting the numbers are indicating strong momentum.

Taylor Collison notes free cash flow was weaker than expected at -$3.1m vs its forecast of -$2.2m, but this is due to contract execution timing, not weak demand.

The broker believes the company has a strong footing in the sports betting market and is now moving into a phase where agency and channel partners are expected to drive significant revenue growth.

Speculative Buy. Target trimmed to 16c from 17c on dilution from $8.5m capital raise.

This report was published on July 29, 2025.

Target price is $0.16 Current Price is $0.17 Difference: minus $0.01 (current price is over target).
If AV1 meets the Taylor Collison target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.89.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 85.00.

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

AVA    AVA RISK GROUP LIMITED

Hardware & Equipment – Overnight Price: $0.08

Canaccord Genuity rates ((AVA)) as Buy (1) –

Canaccord Genuity notes Ava Risk’s FY25 revenue and EBITDA guidance of $30.6m and $2.0m were below its forecast of $37.1m and $4.2m, respectively.

The miss was largely due to delayed contracts, pushed to FY26. The company expects 20% y/y revenue growth in FY26 and the broker is forecasting 27% growth, including the delayed contracts.

However, its revised EBITDA estimate is now $6.5m from $11.6m previously.

Buy. Target cut to 18c from 22c.

This report was published on July 17, 2025.

Target price is $0.18 Current Price is $0.08 Difference: $0.1
If AVA meets the Canaccord Genuity target it will return approximately 125% (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 0.35 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 22.86.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.33.

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

BET    BETMAKERS TECHNOLOGY GROUP LIMITED

Gaming – Overnight Price: $0.16

Canaccord Genuity rates ((BET)) as Speculative Buy (1) –

Canaccord Genuity expects Betmakers Technology to report FY25 revenue of $84.8m vs the consensus of $84.2m.

EBITDA is estimated at $3.1m vs $1.8m consensus.

Speculative Buy. Target 22c.

This report was published on August 8, 2025.

Target price is $0.22 Current Price is $0.16 Difference: $0.06
If BET meets the Canaccord Genuity target it will return approximately 38% (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 2.29 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 6.99.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.68 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 23.53.

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

BMN    BANNERMAN ENERGY LIMITED

Uranium – Overnight Price: $2.56

Petra Capital rates ((BMN)) as Buy (1) –

Petra Capital notes the 2025 edition of the World Nuclear Association’s biennial report is due in September, and it expects to show nuclear power utilities about to enter a fresh period of long-term uranium supply deals with producers.

This would be supportive of the sector broadly, the broker reckons.

Bannerman Energy is targeting final investment decision for its Etango project in the second half of 2025, depending on stronger uranium prices.

Buy. Target price $5.30.

This report was published on August 7, 2025.

Target price is $5.30 Current Price is $2.56 Difference: $2.74
If BMN meets the Petra Capital target it will return approximately 107% (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 2.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 111.30.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 17.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.30.

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

BWP    BWP TRUST

REITs – Overnight Price: $3.58

Moelis rates ((BWP)) as Hold (3) –

Moelis notes BWP Trust’s FY25 distributable income of 18.65c met the guidance, with minimal capital profits released for the year.

Like-for-like rents grew 3% vs 4.2% in 4.2%, reflecting softer inflation. The broker notes gearing was little-changed at 21.6% but cost of internalisation will push it to 23.2%.

The next two years are expected to be capital intensive due to internalisation and as vacant stores are leased, including former Bunnings ((WES)) assets that are being re-leased or repositioned.

The broker expects the portfolio to be fully productive from FY28. Hold. Target unchanged at $3.80.

This report was published on August 8, 2025.

Target price is $3.80 Current Price is $3.58 Difference: $0.22
If BWP meets the Moelis target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.00, suggesting upside of 11.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 19.40 cents and EPS of 18.70 cents.
At the last closing share price the estimated dividend yield is 5.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.2, implying annual growth of -48.4%.
Current consensus DPS estimate is 19.4, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 18.6.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 19.60 cents and EPS of 19.70 cents.
At the last closing share price the estimated dividend yield is 5.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.9, implying annual growth of 3.6%.
Current consensus DPS estimate is 19.9, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 18.0.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CAR    CAR GROUP LIMITED

Automobiles & Components – Overnight Price: $37.20

Jarden rates ((CAR)) as Neutral (3) –

Jarden’s first impression of Car Group’s FY25 result is no major surprises but the consensus for FY26 may be on the higher side. The wildcard is forex, and if it stays at current levels, the broker sees modest drag to FY26 EBITDA and net profit growth.

One surprise for the broker was higher revenue growth guidance vs EBITDA for North America, with its own forecast for 11% revenue growth and 12% EBITDA growth.

Neutral. Target unchanged at $34.50.

This report was published on August 11, 2025.

Target price is $34.50 Current Price is $37.20 Difference: minus $2.7 (current price is over target).
If CAR meets the Jarden target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $41.69, suggesting upside of 12.1%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 109.6, implying annual growth of N/A.
Current consensus DPS estimate is 91.6, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 33.9.

Forecast for FY27:

Current consensus EPS estimate is 126.1, implying annual growth of 15.1%.
Current consensus DPS estimate is 100.5, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 29.5.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CCX    CITY CHIC COLLECTIVE LIMITED

Apparel & Footwear – Overnight Price: $0.08

Canaccord Genuity rates ((CCX)) as Speculative Buy (1) –

City Chic Collective pre-released FY25 revenue of $135m and adjusted EBITDA of $6.0-6.5m at margin of 4%.

At the FY25 result, Canaccord Genuity will focus on top-line growth momentum with its forecast of 6% y/y revenue growth in FY26. The broker will look for commentary around new product ranges, inventory and new store rollouts.

Speculative Buy. Target price 25c.

This report was published on August 8, 2025.

Target price is $0.25 Current Price is $0.08 Difference: $0.17
If CCX meets the Canaccord Genuity target it will return approximately 212% (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

CGS    COGSTATE LIMITED

Medical Equipment & Devices – Overnight Price: $1.70

Canaccord Genuity rates ((CGS)) as Buy (1) –

Canaccord Genuity expects Cogstate to report FY25 revenue of US$53m, well below the consensus of US$82.2m but consistent with the company’s guidance of US$52-54m

The broker’s EBITDA forecast of US$14.9m is also significantly below the consensus of US$23.5m.

Buy. Target price $1.85.

This report was published on August 8, 2025.

Target price is $1.85 Current Price is $1.70 Difference: $0.15
If CGS meets the Canaccord Genuity target it will return approximately 9% (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 4.49 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.90.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.41 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.41.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CHL    CAMPLIFY HOLDINGS LIMITED

Travel, Leisure & Tourism – Overnight Price: $0.46

Canaccord Genuity rates ((CHL)) as Speculative Buy (1) –

Canaccord Genuity is forecasting FY25 revenue of $42.9m for Camplify Holdings vs the consensus of $43.6m.

Speculative Buy. Target price $1.

This report was published on August 8, 2025.

Target price is $1.00 Current Price is $0.46 Difference: $0.54
If CHL meets the Canaccord Genuity target it will return approximately 117% (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

CIP    CENTURIA INDUSTRIAL REIT

REITs – Overnight Price: $3.33

Moelis rates ((CIP)) as Buy (1) –

Centuria Industrial REIT’s FY25 FFO/unit and DPU came in line with guidance and Moelis’ forecasts. 

Net operating income growth, like-for-like, rose 5.8%, slowing from FY24 but higher than FY23, and the broker expects strong growth over the medium-term as under-rented leases expire.

The broker estimates a compounded annual growth rate of 5.5% from FY26-28.

Buy. Target lifted to $3.79 from $3.73.

Coverage transferred to Murray Connellan.

This report was published on August 7, 2025.

Target price is $3.79 Current Price is $3.33 Difference: $0.46
If CIP meets the Moelis target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $3.43, suggesting upside of 2.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 16.80 cents and EPS of 18.20 cents.
At the last closing share price the estimated dividend yield is 5.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.2, implying annual growth of -13.2%.
Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 18.3.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 17.30 cents and EPS of 19.30 cents.
At the last closing share price the estimated dividend yield is 5.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.2, implying annual growth of 5.5%.
Current consensus DPS estimate is 17.4, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 17.3.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CKF    COLLINS FOODS LIMITED

Food, Beverages & Tobacco – Overnight Price: $9.35

Canaccord Genuity rates ((CKF)) as Buy (1) –

Canaccord Genuity has a Buy rating and $9.65 target price on Collins Foods.

This report was published on August 8, 2025.

Target price is $9.65 Current Price is $9.35 Difference: $0.3
If CKF meets the Canaccord Genuity target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $10.16, suggesting upside of 8.7%(ex-dividends)
The company’s fiscal year ends in April.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 25.50 cents and EPS of 45.80 cents.
At the last closing share price the estimated dividend yield is 2.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 48.6, implying annual growth of 548.0%.
Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 19.2.

Forecast for FY27:

Current consensus EPS estimate is 57.7, implying annual growth of 18.7%.
Current consensus DPS estimate is 32.9, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 16.2.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CTD    CORPORATE TRAVEL MANAGEMENT LIMITED

Travel, Leisure & Tourism – Overnight Price: $16.06

Canaccord Genuity rates ((CTD)) as Buy (1) –

Canaccord Genuity’s forecast for Corporate Travel Management’s FY25 EBITDA of $165.3m is consistent with the implied guidance.

The broker expects a positive commentary from the company, including on new business wins.

Buy. Target price $13.70.

This report was published on August 8, 2025.

Target price is $13.70 Current Price is $16.06 Difference: minus $2.36 (current price is over target).
If CTD meets the Canaccord Genuity target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $14.42, suggesting downside of -10.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 34.00 cents and EPS of 67.00 cents.
At the last closing share price the estimated dividend yield is 2.12%.
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 58.6, implying annual growth of 1.3%.
Current consensus DPS estimate is 25.8, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 27.4.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 49.50 cents and EPS of 81.20 cents.
At the last closing share price the estimated dividend yield is 3.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 74.2, implying annual growth of 26.6%.
Current consensus DPS estimate is 30.4, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 21.6.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EGG    ENERO GROUP LIMITED

Media – Overnight Price: $0.94

Canaccord Genuity rates ((EGG)) as Buy (1) –

Enero Group exited OBMedia by selling its 51% stake and the nominal loss of -$14-16m will be offset against $15.2m goodwill associated with the business.

Canaccord Genuity notes the exit marks the end of two difficult years for the business.

Buy. Target lifted to $1.55 from $1.50.

This report was published on July 1, 2025.

Target price is $1.55 Current Price is $0.94 Difference: $0.61
If EGG meets the Canaccord Genuity target it will return approximately 65% (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 2.87 cents and EPS of 9.60 cents.
At the last closing share price the estimated dividend yield is 3.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.79.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 3.17 cents and EPS of 7.90 cents.
At the last closing share price the estimated dividend yield is 3.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.90.

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

EML    EML PAYMENTS LIMITED

Business & Consumer Credit – Overnight Price: $1.04

Canaccord Genuity rates ((EML)) as Buy (1) –

Ahead of EML Payments’ FY25 result, Canaccord Genuity is forecasting EBITDA of $57.3m vs the consensus of $56.6m, and compared with guidance of $54-60m.

The broker believes the company is poised to return to historic growth trajectory of 12% compounded annual growth recorded in FY18-22.

Buy. Target price $1.80.

This report was published on August 8, 2025.

Target price is $1.80 Current Price is $1.04 Difference: $0.76
If EML meets the Canaccord Genuity target it will return approximately 73% (excluding dividends, fees and charges).

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

FPR    FLEETPARTNERS GROUP LIMITED

Vehicle Leasing & Salary Packaging – Overnight Price: $2.67

Canaccord Genuity rates ((FPR)) as Buy (1) –

Canaccord Genuity has a Buy rating and $3.70 target price on FleetPartners Group.

This report was published on August 8, 2025.

Target price is $3.70 Current Price is $2.67 Difference: $1.03
If FPR meets the Canaccord Genuity target it will return approximately 39% (excluding dividends, fees and charges).
Current consensus price target is $3.66, suggesting upside of 37.1%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 33.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.0, implying annual growth of 4.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.9.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 40.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.4, implying annual growth of 1.2%.
Current consensus DPS estimate is 6.6, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 7.8.

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

GDG    GENERATION DEVELOPMENT GROUP LIMITED

Wealth Management & Investments – Overnight Price: $6.19

Petra Capital rates ((GDG)) as Hold (3) –

Petra Capital notes Generation Development’s 4Q25 showed outperformance in both sales and investment performance of investment bonds. Sales grew $317m in 4Q, resulting in both a quarterly and annual record.

Evidentia underperformed, with closing FUM coming in below expectations.

The broker sees the outlook as broadly positive, lifting investment bonds’ sales forecasts for FY26-27.

Hold. Target rises to $6.08 from $5.65.

This report was published on August 7, 2025.

Target price is $6.08 Current Price is $6.19 Difference: minus $0.11 (current price is over target).
If GDG meets the Petra Capital target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 2.00 cents and EPS of 8.80 cents.
At the last closing share price the estimated dividend yield is 0.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 70.34.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 3.70 cents and EPS of 12.50 cents.
At the last closing share price the estimated dividend yield is 0.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 49.52.

Market Sentiment: 0.8
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: $107.64

Canaccord Genuity rates ((HUB)) as Hold (3) –

Ahead of Hub24’s FY25 result, Canaccord Genuity is forecasting EBITDA of $153.8m vs consensus of $150.1m.

The broker expects an upgrade in the company’s FY26 FUA target of $123-135bn, noting the consensus is at $134bn.

Overall, the broker expects strong FY25 results and sees this momentum continue into FY26.

Hold. Target price $98.95.

This report was published on August 8, 2025.

Target price is $98.95 Current Price is $107.64 Difference: minus $8.69 (current price is over target).
If HUB meets the Canaccord Genuity target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $92.43, suggesting downside of -14.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 56.00 cents and EPS of 112.00 cents.
At the last closing share price the estimated dividend yield is 0.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 96.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 111.1, implying annual growth of 91.1%.
Current consensus DPS estimate is 53.0, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 96.9.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 80.00 cents and EPS of 141.00 cents.
At the last closing share price the estimated dividend yield is 0.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 76.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 143.7, implying annual growth of 29.3%.
Current consensus DPS estimate is 71.1, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 74.9.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IPH    IPH LIMITED

Legal – Overnight Price: $5.42

Canaccord Genuity rates ((IPH)) as Buy (1) –

Canaccord Genuity believes the valuation challenge is real for IPH Ltd and a re-rate will require organic growth.

Rising corporate costs is a headwind but presents opportunity for the incoming CFO in the broker’s view.

For FY25, the broker is forecasting $703.4m revenue vs the consensus of $711m.

Buy. Target price $5.75.

This report was published on August 8, 2025.

Target price is $5.75 Current Price is $5.42 Difference: $0.33
If IPH meets the Canaccord Genuity target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $6.51, suggesting upside of 20.2%(ex-dividends)

Forecast for FY25:

Current consensus EPS estimate is 46.6, implying annual growth of 85.8%.
Current consensus DPS estimate is 35.3, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 11.6.

Forecast for FY26:

Current consensus EPS estimate is 49.4, implying annual growth of 6.0%.
Current consensus DPS estimate is 36.5, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 11.0.

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

JBH    JB HI-FI LIMITED

Consumer Electronics – Overnight Price: $107.83

Jarden rates ((JBH)) as Neutral (3) –

In a first impressions report, Jarden notes JB Hi-Fi’s FY25 revenue was ahead of its forecast and the consensus by 1%. Net profit also beat expectations, though reported net profit was impacted by an ACCC fine.

Dividend, including 100c special, was in line the broker’s forecast but ahead of the consensus. Overall, the broker reckons the result suggests optimism into FY26, with dividend payout ratio rising to 70-80% from 65% currently.

Neutral. Target unchanged at $95.50.

This report was published on August 11, 2025.

Target price is $95.50 Current Price is $107.83 Difference: minus $12.33 (current price is over target).
If JBH meets the Jarden target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $103.37, suggesting downside of -4.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 303.00 cents and EPS of 464.20 cents.
At the last closing share price the estimated dividend yield is 2.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 463.5, implying annual growth of N/A.
Current consensus DPS estimate is 357.8, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 23.3.

Forecast for FY27:

Current consensus EPS estimate is 489.7, implying annual growth of 5.7%.
Current consensus DPS estimate is 389.3, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 22.0.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

JLG    JOHNS LYNG GROUP LIMITED

Building Products & Services – Overnight Price: $3.90

Canaccord Genuity rates ((JLG)) as Buy (1) –

Canaccord Genuity believes achieving FY25 EBITDA guidance of $126.5m would be a major positive for Johns Lyng, and signal excellent timing by Pacific Equity Partners.

Buy. Target price $4.

This report was published on August 8, 2025.

Target price is $4.00 Current Price is $3.90 Difference: $0.1
If JLG meets the Canaccord Genuity target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $3.42, suggesting downside of -12.3%(ex-dividends)

Forecast for FY25:

Current consensus EPS estimate is 14.9, implying annual growth of -14.1%.
Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 26.2.

Forecast for FY26:

Current consensus EPS estimate is 17.5, implying annual growth of 17.4%.
Current consensus DPS estimate is 8.2, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 22.3.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

KGN    KOGAN.COM LIMITED

Retailing – Overnight Price: $3.92

Canaccord Genuity rates ((KGN)) as Buy (1) –

Canaccord Genuity expects Kogan.com to post FY25 revenue of $483.3m vs the consensus of $491.1m. EBITDA is estimated at $35m vs $36.6m consensus.

The broker is positive about the outlook as increased marketing spend is expected to boost customer growth going into FY26.

Buy. Target price $7.50.

This report was published on August 8, 2025.

Target price is $7.50 Current Price is $3.92 Difference: $3.58
If KGN meets the Canaccord Genuity target it will return approximately 91% (excluding dividends, fees and charges).
Current consensus price target is $4.60, suggesting upside of 17.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 17.50 cents and EPS of 26.90 cents.
At the last closing share price the estimated dividend yield is 4.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.8, implying annual growth of 19650.0%.
Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 24.8.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 22.60 cents and EPS of 34.70 cents.
At the last closing share price the estimated dividend yield is 5.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.9, implying annual growth of 38.6%.
Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 17.9.

Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

KMD    KMD BRANDS LIMITED

Sports & Recreation – Overnight Price: $0.23

Canaccord Genuity rates ((KMD)) as Hold (3) –

Canaccord Genuity notes KMD Brands’ trading update in June highlighted tough trading conditions.

For FY25, the broker is forecasting NZ$975.2m revenue vs the consensus of NZ$918.9m. EBITDA forecast of NZ$21.9m is within the company’s NZ$15-25m guidance.

Hold. Target price 27c.

This report was published on August 8, 2025.

Target price is $0.27 Current Price is $0.23 Difference: $0.04
If KMD meets the Canaccord Genuity target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $0.35, suggesting upside of 52.2%(ex-dividends)
The company’s fiscal year ends in July.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.92 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 11.99.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.4, 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 N/A.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.82 cents and EPS of 0.46 cents.
At the last closing share price the estimated dividend yield is 3.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 50.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.3, 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 10.0.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LIC    LIFESTYLE COMMUNITIES LIMITED

Aged Care & Seniors – Overnight Price: $4.78

Canaccord Genuity rates ((LIC)) as Hold (3) –

Canaccord Genuity assessed Lifestyle Communities’ 4Q25 update as positive but this overshadowed the VCAT ruling on deferred management fee (DMF).

The broker expects Lifestyle Communities to write down the DMF carrying value of around -$270m.

For FY25, the forecast is for $73m EBITDA vs the consensus of $71.6m.

Hold. Target price $5.30.

This report was published on August 8, 2025.

Target price is $5.30 Current Price is $4.78 Difference: $0.52
If LIC meets the Canaccord Genuity target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $5.92, suggesting upside of 23.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.1, implying annual growth of -23.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 13.6.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.4, implying annual growth of -2.0%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 13.9.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LIN    LINDIAN RESOURCES LIMITED

Aluminium, Bauxite & Alumina – Overnight Price: $0.14

Petra Capital rates ((LIN)) as Buy (1) –

Petra Capital sees Iluka Resources’ ((ILU)) binding funding and offtake agreement with Lindian Resources as an important de-risking event for the company.

Under the agreement, Iluka will source concentrate from Lindian’s 100%-owned Kangankunde Rare Earths Project in Malawi for its Eneabba refinery in Western Australia.

The broker believes more such funding or offtake deals are likely, reducing project financing risks. Buy. Target rises to 93c from 46c.

This report was published on August 7, 2025.

Target price is $0.93 Current Price is $0.14 Difference: $0.79
If LIN meets the Petra Capital target it will return approximately 564% (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 0.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 140.00.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.67.

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

MAP    MICROBA LIFE SCIENCES LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.09

Canaccord Genuity rates ((MAP)) as No Rating (-1) –

Canaccord Genuity has a research restriction on Microba Life Sciences. No rating or target price.

This report was published on August 8, 2025.

Current Price is $0.09. Target price not assessed.
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 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 3.00.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 3.00.

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

MAQ    MACQUARIE TECHNOLOGY GROUP LIMITED

Cloud services – Overnight Price: $70.04

Canaccord Genuity rates ((MAQ)) as Buy (1) –

At the FY25 result, Canaccord Genuity expects positive commentary from Macquarie Technology, including option to acquire land for a new data centre campus.

The broker’s FY25 EBITDA forecast of $114m aligns with the company’s guidance of $112-115m.

Buy. Target price $107.

This report was published on August 8, 2025.

Target price is $107.00 Current Price is $70.04 Difference: $36.96
If MAQ meets the Canaccord Genuity target it will return approximately 53% (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 150.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 46.69.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 123.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 56.94.

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

MMS    MCMILLAN SHAKESPEARE LIMITED

Vehicle Leasing & Salary Packaging – Overnight Price: $18.37

Canaccord Genuity rates ((MMS)) as Hold (3) –

Canaccord Genuity believes McMillan Shakespeare performed well in 2H25 but could flag a softer outlook.

For FY25, the broker is forecasting EBITDA of $157.9m vs the consensus of $163.7m.

Hold. Target price $16.50.

This report was published on August 8, 2025.

Target price is $16.50 Current Price is $18.37 Difference: minus $1.87 (current price is over target).
If MMS meets the Canaccord Genuity target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $18.39, suggesting upside of 0.1%(ex-dividends)

Forecast for FY25:

Current consensus EPS estimate is 141.0, implying annual growth of 17.5%.
Current consensus DPS estimate is 126.8, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 13.0.

Forecast for FY26:

Current consensus EPS estimate is 145.8, implying annual growth of 3.4%.
Current consensus DPS estimate is 127.4, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 12.6.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NCK    NICK SCALI LIMITED

Furniture & Renovation – Overnight Price: $20.51

Jarden rates ((NCK)) as Upgrade to Overweight from Neutral (2) –

Jarden raises its target for Nick Scali to $20.68 from $17.71 and upgrades to Overweight from Neutral following FY25 results and a trading update.

The FY25 A&NZ performance exceeded the broker’s expectations and UK gross margins are tracking ahead of plan, helping offset a slower UK sales ramp.

Group FY25 earnings (EBITDA) missed consensus by around -1%, but A&NZ earnings beat by circa 4% on stronger opex control and a small revenue beat.

A&NZ order momentum is solid, highlight the analysts, with 2H25 written sales orders up 7.3% year-on-year and July up 7.7%, though store rollout guidance of 48 sites by June next year is slightly below consensus.

In the UK, sales remain around -50% below the consensus estimate due to refurbishments and staffing gaps, explains the broker, but 2H25 gross profit margins were around 400bps above consensus.

FY26 guidance for gross profit margins is for between 57–59%, with potential to reach 60% from FY27.

Jarden lifts A&NZ earnings (EBIT) forecasts by 8–13% across FY26–28 on strong revenue momentum and disciplined cost control, partly offset by UK earnings downgrades on a slower sales uplift.

Risks include promotional intensity, macro conditions, and UK execution, cautions the broker.

This report was published on August 11, 2025.

Target price is $20.68 Current Price is $20.51 Difference: $0.17
If NCK meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $21.43, suggesting upside of 4.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 85.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 87.6, implying annual growth of 29.8%.
Current consensus DPS estimate is 67.2, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 23.4.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 99.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 104.5, implying annual growth of 19.3%.
Current consensus DPS estimate is 80.4, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 19.6.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

---

Wilsons rates ((NCK)) as Overweight (1) –

Wilsons highlights Nick Scali’s FY25 result as further proof of a well-managed A&NZ core, with accelerating written sales order growth, strong gross margins, and effective cost control.

July written sales orders (WSO) rose 7.7% (7.2% like-for-like). Management expects 1QFY26 sales to be up year-on-year, with five new A&NZ stores confirmed for opening and more under review.

The UK underperformed forecasts due to weak Fabb store trading and refurbishment closures, explains Wilsons, producing a -$0.6m EBITDA loss versus a forecast $3m profit.

While refurbished stores showed mixed sales trends, the analysts note gross margins improved, and all refurbishments are set to be completed by 1H26. Break-even requires around $53m revenue and circa 2.5 extra orders per store per week.

Wilsons modestly upgrades group profit forecasts, with A&NZ strength offsetting UK downgrades, and lifts its price target to $20.40 from $19.20, incorporating a premium for sector re-rating and UK growth potential.

The broker sees sustained growth in written sales orders (WSO) as the critical driver of valuation now that UK gross margins have been transformed.

This report was published on August 11, 2025.

Target price is $20.40 Current Price is $20.51 Difference: minus $0.11 (current price is over target).
If NCK meets the Wilsons target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $21.43, suggesting upside of 4.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 67.80 cents and EPS of 84.70 cents.
At the last closing share price the estimated dividend yield is 3.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 87.6, implying annual growth of 29.8%.
Current consensus DPS estimate is 67.2, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 23.4.

Forecast for FY27:

Wilsons forecasts a full year FY27 dividend of 83.20 cents and EPS of 104.00 cents.
At the last closing share price the estimated dividend yield is 4.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 104.5, implying annual growth of 19.3%.
Current consensus DPS estimate is 80.4, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 19.6.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NEU    NEUREN PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $17.62

Petra Capital rates ((NEU)) as Buy (1) –

Petra Capital notes Neuren Pharmaceuticals’ Daybue distributor’s 2Q25 Daybue sales were slightly ahead of its forecast and consensus, and FY25 guidance was reiterated at US$380-405m.

Commentary explains the update showed increased penetration in non-COEs with referrals up 75% in 2Q vs 67% in 1Q and the key driver for net patient growth.

Growth is expected to accelerate in the coming quarters and beyond as sales force expansion shows its impact.

EU regulatory approval for Daybue is still expected in 1Q2026, and timeline for a Japanese study remains 3Q25. Buy. Target price $31.45, but forecasts are under review.

This report was published on August 7, 2025.

Target price is $31.45 Current Price is $17.62 Difference: $13.83
If NEU meets the Petra Capital target it will return approximately 78% (excluding dividends, fees and charges).
Current consensus price target is $23.83, suggesting upside of 35.3%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 11.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 148.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.6, implying annual growth of -94.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 267.0.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 217.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.4, implying annual growth of 375.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 56.1.

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

NWL    NETWEALTH GROUP LIMITED

Wealth Management & Investments – Overnight Price: $37.09

Canaccord Genuity rates ((NWL)) as Hold (3) –

Canaccord Genuity notes Netwealth Group’s 4Q25 update was strong, and is forecasting FY25 EBITDA of $166.2m vs the consensus of $164.7m.

The broker expects positive equity markets to contribute to continued operational and financial momentum into FY26.

Hold. Target price $35.50.

This report was published on August 8, 2025.

Target price is $35.50 Current Price is $37.09 Difference: minus $1.59 (current price is over target).
If NWL meets the Canaccord Genuity target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $32.06, suggesting downside of -13.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 34.00 cents and EPS of 45.00 cents.
At the last closing share price the estimated dividend yield is 0.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 82.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 47.5, implying annual growth of 39.1%.
Current consensus DPS estimate is 37.9, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 78.1.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 42.00 cents and EPS of 56.00 cents.
At the last closing share price the estimated dividend yield is 1.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 66.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 55.6, implying annual growth of 17.1%.
Current consensus DPS estimate is 44.7, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 66.7.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NXG    NEXGEN ENERGY LIMITED

Uranium – Overnight Price: $10.59

Petra Capital rates ((NXG)) as Buy (1) –

Petra Capital notes the 2025 edition of the World Nuclear Association’s biennial report is due in September, and it expects to show nuclear power utilities about to enter a fresh period of long-term uranium supply deals with producers.

This would be supportive of the sector broadly, the broker reckons.

The broker considers NexGen Energy as the most strategic company in the uranium sector and has re-instated a corporate premium to its target price. The broker believes earlier moves by strategic investors is a possibility.

Buy. Target price $17.12.

This report was published on August 7, 2025.

Target price is $17.12 Current Price is $10.59 Difference: $6.53
If NXG meets the Petra Capital target it will return approximately 62% (excluding dividends, fees and charges).

This company reports in CAD. 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

NXT    NEXTDC LIMITED

Cloud services – Overnight Price: $14.59

Canaccord Genuity rates ((NXT)) as Buy (1) –

Canaccord Genuity believes NextDC will see considerable earnings growth in FY26 as it begins invoicing the contracted portfolio.

The broker’s FY25 EBITDA forecast is $215.7m, in line with consensus and guidance.

Buy. Target price $21.70.

This report was published on August 8, 2025.

Target price is $21.70 Current Price is $14.59 Difference: $7.11
If NXT meets the Canaccord Genuity target it will return approximately 49% (excluding dividends, fees and charges).
Current consensus price target is $19.59, suggesting upside of 34.3%(ex-dividends)
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 4.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 317.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -8.8, 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 N/A.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 14.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 102.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -18.7, 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 N/A.

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

PRN    PERENTI LIMITED

Mining Sector Contracting – Overnight Price: $1.98

Canaccord Genuity rates ((PRN)) as Buy (1) –

Canaccord Genuity expects a broadly good FY25 result from Perenti, with gross debt expected to be lower than $760m consensus. The focus will be on any M&A commentary.

The broker is estimating FY25 revenue of $428.1m vs guidance of $423m and consensus of $417.3m.

Buy. Target price $1.96.

This report was published on August 8, 2025.

Target price is $1.96 Current Price is $1.98 Difference: minus $0.02 (current price is over target).
If PRN meets the Canaccord Genuity target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.84, suggesting downside of -7.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 6.00 cents and EPS of 13.70 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 14.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.1, implying annual growth of 66.8%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 10.9.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 6.60 cents and EPS of 17.20 cents.
At the last closing share price the estimated dividend yield is 3.33%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.0, implying annual growth of 10.5%.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 9.9.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

QOR    QORIA LIMITED

Software & Services – Overnight Price: $0.67

Canaccord Genuity rates ((QOR)) as Buy (1) –

Canaccord Genuity notes Qoria pre-released all key FY25 numbers, including cash flow, and also provided FY26 guidance.

FY26 revenue is guided over $140m and the broker is estimating $141m.

Buy. Target price 60c.

This report was published on August 8, 2025.

Target price is $0.60 Current Price is $0.67 Difference: minus $0.07 (current price is over target).
If QOR meets the Canaccord Genuity target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
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 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 47.86.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 41.88.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SGLLV    RICEGROWERS LIMITED

Food, Beverages & Tobacco – Overnight Price: $10.41

Canaccord Genuity rates ((SGLLV)) as Buy (1) –

Canaccord Genuity has a Buy rating and $13.70 target price on Ricegrowers.

This report was published on August 8, 2025.

Target price is $13.70 Current Price is $10.41 Difference: $3.29
If SGLLV meets the Canaccord Genuity target it will return approximately 32% (excluding dividends, fees and charges).

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

VGL    VISTA GROUP INTERNATIONAL LIMITED

Software & Services – Overnight Price: $3.12

Canaccord Genuity rates ((VGL)) as Buy (1) –

Canaccord Genuity expects Vista International to remove FY25 annual recurring revenue guidance of $175m at the upcoming 1H25 result. The broker’s forecast is $165m.

The broker’s revenue forecast for FY25 is $170m.

Buy. Target price $4.

This report was published on August 8, 2025.

Target price is $4.00 Current Price is $3.12 Difference: $0.88
If VGL meets the Canaccord Genuity target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $4.10, suggesting upside of 31.4%(ex-dividends)

Forecast for FY25:

Current consensus EPS estimate is 4.0, 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 78.0.

Forecast for FY26:

Current consensus EPS estimate is 7.0, implying annual growth of 75.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 44.6.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WEB    WEB TRAVEL GROUP LIMITED

Travel, Leisure & Tourism – Overnight Price: $4.26

Canaccord Genuity rates ((WEB)) as Buy (1) –

Canaccord Genuity has a Buy rating and $6.70 target price on Web Travel.

This report was published on August 8, 2025.

Target price is $6.70 Current Price is $4.26 Difference: $2.44
If WEB meets the Canaccord Genuity target it will return approximately 57% (excluding dividends, fees and charges).
Current consensus price target is $6.28, suggesting upside of 47.4%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 27.0, implying annual growth of -48.2%.
Current consensus DPS estimate is 1.6, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 15.8.

Forecast for FY27:

Current consensus EPS estimate is 35.1, implying annual growth of 30.0%.
Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 12.1.

Market Sentiment: 0.6
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.

<span style="

Click to view our Glossary of Financial Terms