Daily Market Reports | Sep 01 2025
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
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)
29M ABB (2) ALK AVA AYA CCR CNU DTL (2) GQG HGO IDX IMD KGN LAU LRK MAC NAN NHF NVX NXL (2) PPE PPM PPS (2) QAL REG RWL STO
29M 29METALS LIMITED
Copper - Overnight Price: $0.34
Canaccord Genuity rates ((29M)) as Sell (5) -
Canaccord Genuity notes 29Metals' 1H25 revenue, EBITDAI and net profit all beat Canaccord Genuity's forecasts. However, the broker warned one-off adjustments and insurance payout masked the outcomes.
Underlying profitability is a concern for the broker as no further support will come from insurance payout. The broker sees the combination of negative working capital (though unwound to -$39.2m from -$68m in Dec) and net debt of $16m as a risk.
Sell. Target unchanged at 16c.
This report was published on August 27, 2025.
Target price is $0.16 Current Price is $0.34 Difference: minus $0.18 (current price is over target).
If 29M meets the Canaccord Genuity target it will return approximately minus 53% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.25, suggesting downside of -27.2%(ex-dividends)
The company's fiscal year ends in December.
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 11.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 0.8, 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 42.5.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.3, 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 N/A.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ABB AUSSIE BROADBAND LIMITED
Telecommunication - Overnight Price: $5.17
Jarden rates ((ABB)) as Downgrade to Neutral from Overweight (3) -
Jarden regards Aussie Broadband's FY25 result as solid with some low and high quality positive surprises. Better cost/productivity discipline and divestment of Buddy were quoted among the positives.
A bigger positive was new 6-year wholesale agreement with M&T to provide NBN network services to More and Tangerine Telecom. The deal is expected to contribute $12m to underlying EBITDA from FY27.
The broker highlights improvement in FY26 earnings outlook but sees competitive intensity in residential broadband as a key risk to subscriber growth.
The broker upgraded FY26-28 underlying EBITDA forecasts mainly due to lower cost base following Symbio synergies and the Buddy exit.
Target rises to $5.30 from $4.50. Rating downgraded to Neutral from Overweight.
This report was published on August 26, 2025.
Target price is $5.30 Current Price is $5.17 Difference: $0.13
If ABB meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $5.95, suggesting upside of 15.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 7.00 cents and EPS of 24.40 cents.
At the last closing share price the estimated dividend yield is 1.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.8, implying annual growth of 68.0%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 27.5.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 11.00 cents and EPS of 33.90 cents.
At the last closing share price the estimated dividend yield is 2.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 25.4, implying annual growth of 35.1%.
Current consensus DPS estimate is 8.1, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 20.4.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((ABB)) as Overweight (1) -
The highlight of Aussie Broadband's FY25 result for Wilsons was the wholesale business win of More Telecom which operates under "More" and "Tangerine" brands.
The broker sees this as a pivotal win for the company as it adds scale, strengthens wholesale presence and reduces downside risk to volume growth.
FY25 revenue rose 19% y/y, with underlying EBITDA of $138m coming at the top end of the $133-138m guidance range. FY26 EBITDA guidance of $157-167m compares with the broker's forecast of $167m.
Overweight. Target lifted to $6.85 from $5.16.
This report was published on August 26, 2025.
Target price is $6.85 Current Price is $5.17 Difference: $1.68
If ABB meets the Wilsons target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $5.95, suggesting upside of 15.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 6.30 cents and EPS of 18.10 cents.
At the last closing share price the estimated dividend yield is 1.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.8, implying annual growth of 68.0%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 27.5.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 10.60 cents and EPS of 26.50 cents.
At the last closing share price the estimated dividend yield is 2.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 25.4, implying annual growth of 35.1%.
Current consensus DPS estimate is 8.1, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 20.4.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALK ALKANE RESOURCES LIMITED
Gold & Silver - Overnight Price: $1.05
Moelis rates ((ALK)) as Buy (1) -
Moelis notes Alkane Resources' FY25 result was slightly softer than its forecast, with revenue in line but EBITDA and adjusted net profit falling short. The difference at the EBITDA line reflected higher corporate cost while D&A and interest hurt the net profit line.
The broker, however, see the outcome as less relevant as the merger with Mandalay Resources is now complete, bringing the asset into its model.
The result is a doubling in average annual production estimate but a moderation in cost as the new assets have lower cost than Tomingley. Overall, FY26-27 net profit forecasts more than doubled.
EPS forecast for FY26 moved up 40% and by 5.8% in FY27. Buy. Target lifted to $1.40 from $1.15.
This report was published on August 24, 2025.
Target price is $1.40 Current Price is $1.05 Difference: $0.35
If ALK meets the Moelis target it will return approximately 33% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 18.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.61.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.36.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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