Australian Broker Call *Extra* Edition – Aug 19, 2025

This story features ANZ GROUP HOLDINGS LIMITED, and other companies.
For more info SHARE ANALYSIS: ANZ
The company is included in ASX20, ASX50, ASX100, ASX200, 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.

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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)

ANZ   ASX   COF (2)   COH (2)   HDN   IGO   INR   MGR   NAB   NUZ   RXL   SKT   STK   WEB   WIA  

ANZ    ANZ GROUP HOLDINGS LIMITED

Banks – Overnight Price: $32.57

Jarden rates ((ANZ)) as Overweight (2) –

Jarden notes ANZ Bank does not provide P&L details at its mid-season quarterly updates, but management would speak up if consensus forecasts were awry. On the numbers released, Jarden has made no change to forecasts.

Following a meeting with the new CEO, Jarden expects a strategy update in late Sep/early Oct. Initial impressions are positive. The broker expects a clear roadmap and set of financial targets in line with common practice in UK/European banking.

Overweight and $30 target unchanged..

This report was published on August 15, 2025.

Target price is $30.00 Current Price is $32.57 Difference: minus $2.57 (current price is over target).
If ANZ meets the Jarden target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $27.39, suggesting downside of -15.9%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 166.00 cents and EPS of 228.00 cents.
At the last closing share price the estimated dividend yield is 5.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 229.2, implying annual growth of 5.2%.
Current consensus DPS estimate is 155.8, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.2.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 166.00 cents and EPS of 232.00 cents.
At the last closing share price the estimated dividend yield is 5.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.04.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 222.3, implying annual growth of -3.0%.
Current consensus DPS estimate is 158.8, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 14.7.

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

ASX    ASX LIMITED

Wealth Management & Investments – Overnight Price: $70.39

Jarden rates ((ASX)) as Neutral (3) –

ASX’s FY25 earnings were a touch below Jarden’s forecast. Listings & Market revenues missed while Technology & Data beat.

Opex growth was at the lower end of guidance despite a notable lift in technology expenses, reflecting increased usage from higher headcount, price changes from vendors, project costs and more cloud-based systems.

Jarden sees significant uncertainty stemming from ongoing regulatory investigations, delivery risk on multiple technology projects, and sustained technology inflation.

Coupled with impacts on revenues from a moderating interest rate environment, the earnings trajectory appears challenged, with scope for protracted cost growth beyond FY26.

On balance, Jarden views ASX’s current discount to its historical trading level as justified given the risks, and therefore retains a Neutral rating. Target falls to $66.70 from $69.20.

This report was published on August 15, 2025.

Target price is $66.70 Current Price is $70.39 Difference: minus $3.69 (current price is over target).
If ASX meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $63.70, suggesting downside of -8.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 216.00 cents and EPS of 254.00 cents.
At the last closing share price the estimated dividend yield is 3.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 254.6, implying annual growth of -1.7%.
Current consensus DPS estimate is 216.2, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 27.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 229.00 cents and EPS of 269.00 cents.
At the last closing share price the estimated dividend yield is 3.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 268.0, implying annual growth of 5.3%.
Current consensus DPS estimate is 225.0, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 26.1.

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

COF    CENTURIA OFFICE REIT

REITs – Overnight Price: $1.24

Jarden rates ((COF)) as Underweight (4) –

Centuria Office REIT delivered an in-line FY25 result but disappointed with FY26 funds from operations (FFO) guidance -6.8% below consensus. Adjusted FFO is -26% below FFO and 18% below dividend guidance.

Commentary posits management has been consistent in its messaging that emphasises the quality of the REIT’s prime grade metro Office portfolio, trading at a significant discount to replacement cost, somewhat protected from supply growth due to elevated economic rents.

While Jarden agrees the REIT screens well on value, the broker thinks investors will need to be patient.

Ongoing soft leasing conditions in markets where Centuria faces exposure over the next twelve months implies no recovery in earnings growth until FY27 and beyond, the report stipulates.

Target falls to $1.22 from $1.24, Underweight retained.

This report was published on August 15, 2025.

Target price is $1.22 Current Price is $1.24 Difference: minus $0.02 (current price is over target).
If COF meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.17, suggesting downside of -5.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 10.10 cents and EPS of 11.30 cents.
At the last closing share price the estimated dividend yield is 8.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.0, implying annual growth of N/A.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 8.2%.
Current consensus EPS estimate suggests the PER is 10.3.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 11.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.0, implying annual growth of 8.3%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 8.1%.
Current consensus EPS estimate suggests the PER is 9.5.

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

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Moelis rates ((COF)) as Buy (1) –

Centuria Office REIT’s FY25 result was in line with guidance. Moelis notes the REIT leased 12k sqm in 2H25 and has 13.5% of income due to expire in FY26, though this falls -9% when deals under advanced negotiations are included.

Net tangible asset fell to $1.67 in June from $1.72 in Dec 2024, with the decline due to capex and rent abatements rather than valuation losses

Commentary highlights gearing rose but LVR of 45.8% remains below the 60% covenant and the outlook is positive for asset values to a combination of headline rent growth and falling interest rates.

FY26 guidance for FFO was below expectation which, together with recovery timing for certain office markets, led to a cut in target price to $1.61 from $1.68.

Buy maintained.

This report was published on August 18, 2025.

Target price is $1.61 Current Price is $1.24 Difference: $0.37
If COF meets the Moelis target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $1.17, suggesting downside of -5.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 10.10 cents and EPS of 11.30 cents.
At the last closing share price the estimated dividend yield is 8.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.0, implying annual growth of N/A.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 8.2%.
Current consensus EPS estimate suggests the PER is 10.3.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 10.10 cents and EPS of 11.80 cents.
At the last closing share price the estimated dividend yield is 8.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.0, implying annual growth of 8.3%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 8.1%.
Current consensus EPS estimate suggests the PER is 9.5.

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

COH    COCHLEAR LIMITED

Medical Equipment & Devices – Overnight Price: $296.36

Jarden rates ((COH)) as Neutral (3) –

Cochlear reported a disappointing FY25 result, Jarden suggests, that had a number of one-offs supporting it.

FY26 guidance represented a -3% miss at the midpoint versus consensus and relies on earnings significantly skewed to the second half to achieve 5-11% growth.

The risk of another earnings miss remains as Cochlear pares back Selling, General & Admin spending and R&D at a time when efforts should be directed at promoting its impressive suite of new products being launched over the next 6-12 months, in the broker’s view.

Jarden remains on the sidelines with an unchanged Neutral recommendation. The stock remains expensive, the broker believes, offering earnings risk despite the promise of earnings growth in FY27 – based largely on the success of the CI1000 series implant.

On outer year forecasts, target rises to $278.51 from $270.28.

This report was published on August 15, 2025.

Target price is $278.51 Current Price is $296.36 Difference: minus $17.85 (current price is over target).
If COH meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $311.74, suggesting upside of 5.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 392.00 cents and EPS of 680.00 cents.
At the last closing share price the estimated dividend yield is 1.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 43.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 691.5, implying annual growth of 16.4%.
Current consensus DPS estimate is 486.8, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 42.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 553.00 cents and EPS of 850.00 cents.
At the last closing share price the estimated dividend yield is 1.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 34.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 791.9, implying annual growth of 14.5%.
Current consensus DPS estimate is 557.6, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 37.4.

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

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Wilsons rates ((COH)) as Market Weight (3) –

In the wake of Cochlear’s FY25 result, Wilsons believes Nexa will take more cochlear implant share than the market currently has in its models.

Having seen nothing sinister in recent Services misses and with a Nexa launch imminent, the broker has removed its -15% valuation discount.

On earnings, Wilsons could not develop conviction above the bottom end of guidance. The risk of further misses and/or downgrades keeps the broker on the sidelines. 

Commentary highlights nearly everything in Cochlear’s FY26 guidance is weighted to the second half. Target rises to $330 from $280, Market Weight retained.

This report was published on August 18, 2025.

Target price is $330.00 Current Price is $296.36 Difference: $33.64
If COH meets the Wilsons target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $311.74, suggesting upside of 5.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 460.00 cents and EPS of 665.00 cents.
At the last closing share price the estimated dividend yield is 1.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 44.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 691.5, implying annual growth of 16.4%.
Current consensus DPS estimate is 486.8, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 42.9.

Forecast for FY27:

Wilsons forecasts a full year FY27 dividend of 510.00 cents and EPS of 740.00 cents.
At the last closing share price the estimated dividend yield is 1.72%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 791.9, implying annual growth of 14.5%.
Current consensus DPS estimate is 557.6, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 37.4.

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

HDN    HOMECO DAILY NEEDS REIT

REITs – Overnight Price: $1.32

Jarden rates ((HDN)) as Buy (1) –

HomeCo Daily Needs REIT continues to deliver strong net operating income growth, notes Jarden, and the impact of rising debt should ease over time based on the current bank bill swap curve.

Jarden likes the attractive development pipeline that should accelerate growth as the REIT completes active projects and works through $80-$120m in FY26 commencements.

HomeCo continues to fund its development pipeline through disposals keeping gearing within the 30-40% target range.

While the REIT has been a net disposer over the past three years, Jarden sees it as well positioned to execute on further acquisitions among a more active retail transaction market.

Buy retained, target rises to $1.55 from $1.50.

This report was published on August 14, 2025.

Target price is $1.55 Current Price is $1.32 Difference: $0.23
If HDN meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $1.34, suggesting upside of 1.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 8.60 cents and EPS of 9.00 cents.
At the last closing share price the estimated dividend yield is 6.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.0, implying annual growth of -25.1%.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 14.7.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 9.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.1, implying annual growth of 1.1%.
Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 14.5.

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

IGO    IGO LIMITED

Nickel – Overnight Price: $5.45

Jarden rates ((IGO)) as Downgrade to Overweight from Buy (2) –

Ahead of IGO Ltd’s FY25 result, Jarden assumes Kwinana will be mothballed from end-2026. Kwinana represents an ongoing capital drain that detracts from IGO’s otherwise high-quality hard rock exposure.

Following -$525m of impairments in the first half and a further -$70-90m expected with the FY25 results, Jarden notes the asset will be fully written off.

Jarden’s target decreases to $4.86 from A$5.34, driven primarily by moderating Greenbushes production expectations and aligning them to the broker’s lithium price forecasts.

The recent share price rally has eliminated the compelling valuation appeal, hence Jarden reduces its rating to Overweight from Buy.

This report was published on August 15, 2025.

Target price is $4.86 Current Price is $5.45 Difference: minus $0.59 (current price is over target).
If IGO 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 $4.38, suggesting downside of -19.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 20.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 26.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -9.6, 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:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 5.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 100.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.5, implying annual growth of N/A.
Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 1090.0.

Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

INR    IONEER LIMITED

New Battery Elements – Overnight Price: $0.13

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

Aligned with U.S. energy security and critical minerals policy, the Department of Energy plans to fund US$1bn across five streams.

Canaccord Genuity believes ioneer’s Rhyolite Ridge project will likely screen across multiple funding buckets, and there’s also potential for direct US government partnership.

Commentary posits this will help narrow the current funding gap of -US$670m for the project. Speculative Buy. Target unchanged at 25c.

This report was published on August 17, 2025.

Target price is $0.25 Current Price is $0.13 Difference: $0.12
If INR meets the Canaccord Genuity target it will return approximately 92% (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 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 43.33.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.48 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 27.08.

This company reports in USD. 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

MGR    MIRVAC GROUP

Infra & Property Developers – Overnight Price: $2.37

Jarden rates ((MGR)) as Neutral (3) –

Mirvac Group’s FY25 result disappointed but, like the company, Jarden is seeing FY26 as a turning point with expectations of profit improvement across all divisions. 

This, combined with easing funding cost pressures, is expected to drive earnings growth, with the broker’s projection for 9.6% compounded annual growth rate for operating EPS in FY25-28.

Consensus expectations are already elevated with 12.5% compounded annual EPS growth for FY26-28, limiting upside potential, the broker observes.

FY26 FFO forecast lifted by 0.7% but FY27 trimmed by -1.1%. 

Neutral. Target eases to $2.40 from $2.45.

This report was published on August 16, 2025.

Target price is $2.40 Current Price is $2.37 Difference: $0.03
If MGR meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $2.41, suggesting upside of 1.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.50 cents and EPS of 12.90 cents.
At the last closing share price the estimated dividend yield is 4.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.9, implying annual growth of 650.0%.
Current consensus DPS estimate is 9.7, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 18.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 10.50 cents and EPS of 14.30 cents.
At the last closing share price the estimated dividend yield is 4.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.2, implying annual growth of 10.1%.
Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 16.7.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NAB    NATIONAL AUSTRALIA BANK LIMITED

Banks – Overnight Price: $40.23

Jarden rates ((NAB)) as Underweight (4) –

The key takeaway from National Australia Bank’s 3Q25 update was a lift in FY25 opex guidance, with the bank now expecting it to be approximately 4.5% higher vs FY24. Previously it signalled lower growth than FY24’s 4.5%.

This is, however, offset by higher-than-expected net interest margin, Jarden notes, though the bank didn’t disclose it. Commentary pointed to 4bps increase on replicating porftolio benefits, lower liquids and lower short-term funding costs.

The higher opex is due to -$130m related to payroll remediation, and -$15.5m civil penalty on a case brought by ASIC.

No change to earnings forecasts. Underweight. Target unchanged at $29.

This report was published on August 18, 2025.

Target price is $29.00 Current Price is $40.23 Difference: minus $11.23 (current price is over target).
If NAB meets the Jarden target it will return approximately minus 28% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $33.76, suggesting downside of -16.1%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 171.00 cents and EPS of 226.10 cents.
At the last closing share price the estimated dividend yield is 4.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 225.8, implying annual growth of 0.5%.
Current consensus DPS estimate is 170.0, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 17.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 173.00 cents and EPS of 226.70 cents.
At the last closing share price the estimated dividend yield is 4.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 226.5, implying annual growth of 0.3%.
Current consensus DPS estimate is 171.0, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 17.8.

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

NUZ    NEURIZON THERAPEUTICS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.17

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

Neurizon Therapeutics has been informed by the FDA it will need an additional 1.5 months to review its investigational new drug application, due to lack of resources.

Petra Capital finds this disappointing, but notes it is not a reflection of the company’s response to the review. The delays pushes back the possible start in Healey trial dosing to Dec 2025/Jan 2026, but still allows for trial results by mid-2027.

Buy. Target unchanged at 50c.

This report was published on August 18, 2025.

Target price is $0.50 Current Price is $0.17 Difference: $0.33
If NUZ meets the Petra Capital target it will return approximately 194% (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 3.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 4.72.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 3.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 5.00.

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

RXL    ROX RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.31

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

Canaccord Genuity notes latest drilling at Rox Resources’ Youanmi gold project uncovered high-grade results across multiple prospects, reinforcing exploration upside and expansion potential.

The project already has a 2.2Moz resource base, making it one of Australia’s highest-grade emerging gold projects. Definitive feasibility study is due in November and financing discussions are ongoing.

Speculative Buy. Target unchanged at 67c.

This report was published on August 17, 2025.

Target price is $0.67 Current Price is $0.31 Difference: $0.36
If RXL meets the Canaccord Genuity target it will return approximately 116% (excluding dividends, fees and charges).

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

SKT    SKY NETWORK TELEVISION LIMITED

Print, Radio & TV – Overnight Price: $2.60

Jarden rates ((SKT)) as Overweight (2) –

Ahead of SKY Network Television’s FY25 result on August 22, Jarden notes the company has delivered on dividends thanks to lower capital intentity as earnings growth has been in decline.

The company’s FY25 revenue guidance at midpoint is flat vs FY23 and compared with the original 3-4% growth ambition. The broker is forecasting a -1.5% decline vs FY23 for TV subscriber revenue.

The outlook for FY26 hinges on cost controls, especially rugby rights, synergies from Discovery integration and stabilisation of subscriber growth and average revenue per user.

Overweight. Target price NZ$3.15.

This report was published on August 15, 2025.

Current Price is $2.60. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 19.18 cents and EPS of 28.22 cents.
At the last closing share price the estimated dividend yield is 7.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.21.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 27.40 cents and EPS of 35.08 cents.
At the last closing share price the estimated dividend yield is 10.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.41.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

STK    STRICKLAND METALS LIMITED

Mining – Overnight Price: $0.14

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

Canaccord Genuity notes Strickland Metals is rapidly de-risking Rogozna with strong exploration success and positive metallurgy.

The project has attracted further attention from Zijin, who increased the stake to 3.3% from 2.4% via a subsidiary.

With a maiden Gradina resource due in late 2025 and assays pending, the broker believes the company offers a leveraged exposure to one of Europe’s gold-copper growth stories.

Speculative Buy. Target rises to 43c from 42c on positive impact on valuation after Yandal gold project divestment.

This report was published on August 15, 2025.

Target price is $0.43 Current Price is $0.14 Difference: $0.29
If STK meets the Canaccord Genuity target it will return approximately 207% (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 0.00 cents.

Forecast for FY26:

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

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: $4.42

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

Canaccord Genuity has a cautious view on Web Travel in the short term but reiterates its longer term view of market share gain and growth materially faster than the industry.

The broker believes 24% y/y increase in total transaction value (TTV) year-to-date is likely but growth for FY26 requires a moderation to reflect weaker activity in Europe. Accordingly, it cut FY26-28 TTV forecast by -1.7%.

FY26 revenue and margin forecasts were also trimmed, along with a cut to FY27 revenue. FY26 EPS forecast was trimmed by -9.4% and FY27 by -17%.

Buy. Target cut to $5.45 from $6.70.

This report was published on August 15, 2025.

Target price is $5.45 Current Price is $4.42 Difference: $1.03
If WEB meets the Canaccord Genuity target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $6.28, suggesting upside of 42.0%(ex-dividends)
The company’s fiscal year ends in March.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 25.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.61.

How do these forecasts compare to market consensus projections?

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 16.4.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 10.40 cents and EPS of 30.80 cents.
At the last closing share price the estimated dividend yield is 2.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.35.

How do these forecasts compare to market consensus projections?

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 12.6.

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

WIA    WIA GOLD LIMITED

Gold & Silver – Overnight Price: $0.32

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

Petra Capital brought forward its forecast for first gold production at WIA Gold’s Kokoseb project by one year to 1H29. This followed an upgrade in resource to 2.93Moz in July.

The broker notes a scoping study is due in September and the company plans to move immediately to definitive feasibility study with completed aimed by mid-2026.

Buy. Target rises to 41c from 34c (was 32c in June).

This report was published on August 18, 2025.

Target price is $0.41 Current Price is $0.32 Difference: $0.09
If WIA meets the Petra Capital target it will return approximately 28% (excluding dividends, fees and charges).

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

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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.

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