Daily Market Reports | Sep 08 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 APE (3) BAP BET BOE BOL BRI (2) BVS CCX CHL CMM CUP CUV DDR (2) DMP DSK EML FEX GLF IGO IPD IPG MMS MSB MYX PXA QOR RHC SDF SFR SIQ SVR WPR XRO
ADH ADAIRS LIMITED
Furniture & Renovation – Overnight Price: $2.60
Canaccord Genuity rates ((ADH)) as Buy (1) –
Adairs’ FY25 sales beat Canaccord Genuity’s forecast by 1%, with the beat driven by Adairs stores, Focus and Mocka. Gross profit margin was ahead by 38bps at 46.8% and net profit was 1% higher than expected.
The highlight was strong start to FY26 with group sales up 22.6% y/y and Adairs up 26.6%, though margin pressure was flagged. Focus turnaround was noted as key swing factor as the company expects sales growth to resume in 1H26, and Mocka is also gaining traction.
The broker cut FY26 net profit forecast by -5% and FY27 by -6.5% on model adjustments.
Target rises to $3.00 from $2.95. Buy maintained.
This report was published on September 1, 2025.
Target price is $3.00 Current Price is $2.60 Difference: $0.4
If ADH meets the Canaccord Genuity target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $2.69, suggesting upside of 3.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 14.00 cents and EPS of 22.00 cents.
At the last closing share price the estimated dividend yield is 5.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.5, implying annual growth of 47.2%.
Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 12.1.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 17.00 cents and EPS of 27.00 cents.
At the last closing share price the estimated dividend yield is 6.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 25.5, implying annual growth of 18.6%.
Current consensus DPS estimate is 14.4, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 10.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components – Overnight Price: $27.02
Canaccord Genuity rates ((APE)) as Upgrade to Buy from Hold (1) –
Canaccord Genuity assesses Eagers Automotive’s 1H25 result as strong, with underlying profit before tax beating its forecast despite pressure on margins, which is widespread in the industry.
Revenue of $6.5bn was ahead of the broker’s forecast of $5.8bn, aided by BYD’s contribution. Operating cash flow was very strong, leading to an improvement in leverage to 0.82x.
The broker reckons the result suggests the earnings profile is less dependent on cycles than previously thought due to strong positioning in new brands and powertrains.
FY25 EPS forecast upgraded by 2.3% and FY26 by 4.5%.
Target lifted to $28.00 from $17.20 for reasons, including an increase in the terminal rate. Rating upgraded to Buy from Hold.
This report was published on August 29, 2025.
Target price is $28.00 Current Price is $27.02 Difference: $0.98
If APE meets the Canaccord Genuity target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $22.95, suggesting downside of -15.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 79.00 cents and EPS of 109.00 cents.
At the last closing share price the estimated dividend yield is 2.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 103.6, implying annual growth of 29.1%.
Current consensus DPS estimate is 74.8, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 26.1.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 83.00 cents and EPS of 124.00 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 21.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 113.5, implying annual growth of 9.6%.
Current consensus DPS estimate is 76.5, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 23.8.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((APE)) as Neutral (3) –
Jarden notes Eagers Automotive delivered another strong result, with 1H25 underlying profit before tax (PBT) of $197.7m, 3% above consensus.
Revenue of $6.5bn beat consensus by 7%, driven by new vehicles up 9% and used vehicles in line. Group gross margins of 16.7% were below consensus expectations on mix shift to lower margin new car sales, explain the analysts.
Record low operating costs, only slightly under consensus, supported pre-tax profit margins of 3.04%, highlights the broker.
Jarden feels momentum is building into 2H25, with easing interest rates and stronger new car gross profit margins expected.
Market share rose to 13.8%, supported by the BYD joint venture, while growth in parts, services and finance is expected to offset flat margins in used vehicles.
The broker’s target price increases to $23.25 and a Neutral rating is kept on valuation.
This report was published on August 29, 2025.
Target price is $23.25 Current Price is $27.02 Difference: minus $3.77 (current price is over target).
If APE meets the Jarden target it will return approximately minus 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $22.95, suggesting downside of -15.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 84.20 cents and EPS of 103.40 cents.
At the last closing share price the estimated dividend yield is 3.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.13.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 103.6, implying annual growth of 29.1%.
Current consensus DPS estimate is 74.8, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 26.1.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 100.70 cents and EPS of 123.70 cents.
At the last closing share price the estimated dividend yield is 3.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 113.5, implying annual growth of 9.6%.
Current consensus DPS estimate is 76.5, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 23.8.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((APE)) as Market Weight (3) –
The key positive in Eagers Automotive’s 1H25 result, in Wilsons’ view, was stronger-than-expected sales of $6.5bn which beat its forecast by 8%.
Profit before tax, however, was only slightly ahead of the broker’s estimate due to lower margins. Operating cash flow was strong.
The company expects FY25 revenue to exceed expectations and to reap benefits from the integration of large-scale acquisitions and greenfield maturation.
The broker also expects revenue to outperform from market share gains, better OEM mix and supportive industry tailwinds.
FY25 sales forecast lifted by 8%, but a lower gross profit margin means gross profit is expected to rise only 2%. For FY26-27, sales are forecast to rise 10-12% and gross profit by 6-8% as the margin improves.
Market Weight. Target price $24.72 (was $19.57 on August 6)
This report was published on August 29, 2025.
Target price is $24.72 Current Price is $27.02 Difference: minus $2.3 (current price is over target).
If APE meets the Wilsons target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $22.95, suggesting downside of -15.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 74.00 cents and EPS of 104.00 cents.
At the last closing share price the estimated dividend yield is 2.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 103.6, implying annual growth of 29.1%.
Current consensus DPS estimate is 74.8, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 26.1.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 84.50 cents and EPS of 123.50 cents.
At the last closing share price the estimated dividend yield is 3.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 113.5, implying annual growth of 9.6%.
Current consensus DPS estimate is 76.5, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 23.8.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BAP BAPCOR LIMITED
Automobiles & Components – Overnight Price: $3.53
Canaccord Genuity rates ((BAP)) as Hold (3) –
Canaccord Genuity notes Bapcor’s FY25 net profit was in line with the trading update provided in late July, with the addition of $2.3m significant item the only variance.
Leverage rose to 2.13x, and the broker doesn’t think of it as an immediate concern, but notes issues with effective payout ratio.
The company’s 5-year target is for 5% compounded annual growth rate in revenue and over 10% for EBITDA. The broker believes execution is key, with top-line growth needed, rather than cost-outs, to succeed.
Minimal changes to forecasts. Hold. Target rises to $4.20 from $4.15.
This report was published on August 29, 2025.
Target price is $4.20 Current Price is $3.53 Difference: $0.67
If BAP meets the Canaccord Genuity target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $3.95, suggesting upside of 11.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 15.00 cents and EPS of 24.00 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 14.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.1, implying annual growth of 190.7%.
Current consensus DPS estimate is 13.6, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 14.6.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 16.00 cents and EPS of 26.00 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 13.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 25.9, implying annual growth of 7.5%.
Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 13.6.
Market Sentiment: 0.0
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: $0.17
Canaccord Genuity rates ((BET)) as Speculative Buy (1) –
Most of Betmakers Technology’s FY25 numbers were pre-released, but the result did highlight strong momentum into FY26 and a lift in gross margin, Canaccord Genuity highlights.
FY25 gross margin rose to 64.1% from 60.3% in FY24, and with 2H rising to 68.3% from 59.6% in 1H. The broker expects strong 9% y/y revenue growth in FY26, with FY25-28 compounded annual growth estimate of 11%.
Revenue growth is underpinned by Apollo and GTX client wins, with Racelab adding incremental optionality. The broker reckons the path towards management’s long-term targets of 70% gross margin and 25%-plus EBITDA margin is clearer, though its forecasts remain conservative.
Speculative Buy. Target unchanged at 22c.
This report was published on August 28, 2025.
Target price is $0.22 Current Price is $0.17 Difference: $0.05
If BET meets the Canaccord Genuity target it will return approximately 29% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.37 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.95.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BOE BOSS ENERGY LIMITED
Uranium – Overnight Price: $1.97
Canaccord Genuity rates ((BOE)) as Speculative Buy (1) –
Canaccord Genuity describes Boss Energy’s FY25 result as solid, as most metrics were in line with its forecasts, though key numbers missed consensus estimates. The highlight was positive operating cash flow of $17.4m, ahead of its $13.8m forecast.
The key upside comes from the company’s minimal sales obligations, which provide strong leverage to any upside in uranium spot prices. Market tightening from Cameco/Kazatomprom supply downgrades further strengthens leverage to spot prices.
FY26 Honeymoon guidance maintained at 1.6Mlbs production and cost of $41-45/lb, with AISC cost of $64-70/lb.
Speculative Buy. Target rises to $3.65 from $3.50.
This report was published on August 26, 2025.
Target price is $3.65 Current Price is $1.97 Difference: $1.68
If BOE meets the Canaccord Genuity target it will return approximately 85% (excluding dividends, fees and charges).
Current consensus price target is $2.54, suggesting upside of 29.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.38 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.6, 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 12.6.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 20.57 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.8, implying annual growth of 148.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 5.1.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BOL BOOM LOGISTICS LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $1.33
Taylor Collison rates ((BOL)) as Outperform & Accumulate (2) –
Boom Logistics reported a rise in FY25 revenue from renewables of 106% on the previous year to $73m, with operational net profit after tax up 41% to $9.3m, which beat upgraded guidance, Taylor Collison notes.
The same rate of growth may not be achieved in FY26 with project delays and slower renewable energy approvals. Momentum is expected to return in FY27 and beyond.
The company’s sector diversification should offer earnings support, according to the analyst, opening opportunities for management to pursue the highest return projects.
Outperform rating retained. Target $2.13.
This report was published on August 25, 2025.
Target price is $2.13 Current Price is $1.33 Difference: $0.795
If BOL meets the Taylor Collison target it will return approximately 60% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 dividend of 2.00 cents and EPS of 24.10 cents.
At the last closing share price the estimated dividend yield is 1.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.54.
Forecast for FY27:
Taylor Collison forecasts a full year FY27 dividend of 2.30 cents and EPS of 32.30 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 4.13.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BRI BIG RIVER INDUSTRIES LIMITED
Building Products & Services – Overnight Price: $1.45
Petra Capital rates ((BRI)) as Buy (1) –
Big River’s FY25 profit of $4.3m was in line with the $4.5m consensus forecast with sales weaker but earnings (EBITDA) meeting Petra Capital’s expectations.
Construction outperformed, highlights the broker, supported by early operational leverage and cost reductions, while Panels margins were softer. Cash conversion was seen as strong, gross margins expanded, and inventory remained flat year-on-year.
Cost savings were achieved in the second half, notes Petra Capital, evidenced by gross margins up 20bps year-on-year and Construction margins up 220bps half-on-half, despite volumes being down -2.3% year-on-year.
FY26 guidance is more constructive than peers, suggests the analyst, reflecting Big River’s earlier stage in the building cycle, with Queensland exposure expected to be supportive.
Petra Capital raises its target price to $1.82 from $1.78 and retains a Buy rating.
This report was published on August 28, 2025.
Target price is $1.82 Current Price is $1.45 Difference: $0.375
If BRI meets the Petra Capital target it will return approximately 26% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 4.00 cents and EPS of 6.30 cents.
At the last closing share price the estimated dividend yield is 2.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.94.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 7.50 cents and EPS of 11.80 cents.
At the last closing share price the estimated dividend yield is 5.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.25.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Taylor Collison rates ((BRI)) as Speculative Buy (1) –
Ongoing impacts of a sluggish residential sector continued to impact Big River Industries over FY25, with volumes remaining challenged in 2H according to Taylor Collison. Strength in civil and commercial activity provided an offset.
The outlook over FY25/FY26 for the company is improving as half-on-half earnings stabilised, which is attributed to the construction sector and shadows the ABS approval data pointing to an improvement, the analyst explains. Margins also improved in 2H25, with Big River’s scale considered an advantage.
Australia’s timber needs are expected to rise 50% by 2050 from rising population and a structural level of under building.
Taylor Collison anticipates the company will remain focused on growing the high-value panels segment in the short term. Speculative Buy rating retained. No target price set.
This report was published on August 27, 2025.
Current Price is $1.45. Target price not assessed.
The company’s fiscal year ends in June.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 dividend of 3.40 cents and EPS of 6.30 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 22.94.
Forecast for FY27:
Taylor Collison forecasts a full year FY27 dividend of 5.40 cents and EPS of 8.40 cents.
At the last closing share price the estimated dividend yield is 3.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.20.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BVS BRAVURA SOLUTIONS LIMITED
Wealth Management & Investments – Overnight Price: $2.05
Wilsons rates ((BVS)) as Market Weight (3) –
Following FY25 results, Wilsons lowers its target for Bravura Solutions to $2.10 form $3.17 and downgrades to Market Weight from Overweight.
FY25 revenue was broadly in line with the broker’s forecasts at $257m, up 3% year-on-year including FX impacts, with recurring revenue comprising 60% of the total.
The broker notes underlying group earnings (EBITDA) of $50.5m nearly doubled on last year, driven largely by a $14m lift in the APAC region, while cash earnings of $44m were 10% ahead of forecasts.
Adjusted profit of $24.4m was materially higher year-on-year but -12% below the broker’s estimate.
For FY26, management guides to revenue in line with FY25 and cash earnings of more than $50m, implying around 15% growth.
The broker now has lower conviction in the near-term outlook given a flat revenue profile, ongoing leadership uncertainty with the CEO role still open, and the chairman stepping down at the AGM.
Wilsons raises FY26 cash earnings forecasts by 14% and FY27 by 6% but lowers its valuation multiple.
This report was published on September 4, 2025.
Target price is $2.10 Current Price is $2.05 Difference: $0.05
If BVS meets the Wilsons target it will return approximately 2% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 4.60 cents and EPS of 7.50 cents.
At the last closing share price the estimated dividend yield is 2.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.33.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 5.00 cents and EPS of 8.20 cents.
At the last closing share price the estimated dividend yield is 2.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.00.
Market Sentiment: 0.5
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: $0.10
Canaccord Genuity rates ((CCX)) as Speculative Buy (1) –
City Chic Collective had pre-released FY25 revenue and adjusted EBITDA, so the highlight at the FY25 result was the trading update, which Canaccord Genuity regards as the best in some time.
Revenue in Australia/NZ rose 9% y/y in the first eight weeks of FY26 vs the broker’s 11% forecast for FY26. US trading remained volatile but profitable despite a reduced sales base.
The FY25 Australia/NZ revenue growth accelerated in 2H, and the US saw an improvement to -6% y/y in 2H from -23% in 1H. No explicit FY26 guidance was provided, but the company expects positive operating cash flow vs -$7m in FY25.
FY26 revenue forecast raised by 1% while FY27 was left unchanged.
Speculative Buy. Target unchanged at 25c.
This report was published on August 28, 2025.
Target price is $0.25 Current Price is $0.10 Difference: $0.145
If CCX meets the Canaccord Genuity target it will return approximately 138% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 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 35.00.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.55.
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: $0.40
Canaccord Genuity rates ((CHL)) as Buy (1) –
Canaccord Genuity highlights Camplify Holdings’ soft FY25 result reflects cost management following a difficult 1H25. Gross transaction value fell -15% y/y due to unwinding of the government’s temporary accommodation program and exit of van sales.
Gross margin was 60% vs 62% in FY24, though a sequential improvement was seen in 2H at 62% vs 59% in 1H. Adjusted EBITDA came at -$9m but the company has guided to positive EBITDA in FY26.
The broker expects growth to re-accelerate in FY26, forecasting EBITDA at zero, and revenue growth of 15%, after revising up 2%.
Buy. Target unchanged at $1.
This report was published on August 28, 2025.
Target price is $1.00 Current Price is $0.40 Difference: $0.6
If CHL meets the Canaccord Genuity target it will return approximately 150% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 19.05.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 3.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.50.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CMM CAPRICORN METALS LIMITED
Gold & Silver – Overnight Price: $11.25
Canaccord Genuity rates ((CMM)) as Buy (1) –
Capricorn Metals’ FY25 revenue of $506m was up 41% y/y, but missed Canaccord Genuity’s forecast by -1%. EBITDA of $273m missed by a bigger -10% due to higher operating costs.
Other numbers, including FY26 production guidance, cost and capex, were pre-reported and adjusted in the broker’s forecasts.
The broker cut FY26 EBITDA forecast by -6% and FY27 by -2%, following the result.
Buy. Target trimmed to $12.15 from $12.20.
This report was published on August 29, 2025.
Target price is $12.15 Current Price is $11.25 Difference: $0.9
If CMM meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $10.57, suggesting downside of -6.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 58.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 49.5, implying annual growth of 33.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 22.7.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 106.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.61.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 65.3, implying annual growth of 31.9%.
Current consensus DPS estimate is 3.5, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 17.2.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CUP COUNT LIMITED
Commercial Services & Supplies – Overnight Price: $1.04
Canaccord Genuity rates ((CUP)) as Buy (1) –
Count’s FY25 underlying net profit of $17.5m beat Canaccord Genuity’s forecast of $16.4m. The outperformance was driven by stronger synergy realisation from the Diverger acquisition that boosted margins
The broker believes industry tailwinds, with increasing demand for financial planning services, remain supportive of the business.
FY26 EPS forecast lifted by 14.2% and FY27 by 13.1% based on the strong FY25 performance. The broker hasn’t factored in any major acquisitions, but expects modest tuck-in acquisitions.
Buy. Target rises to $1.35 from $1.01.
This report was published on September 6, 2025.
Target price is $1.35 Current Price is $1.04 Difference: $0.305
If CUP meets the Canaccord Genuity target it will return approximately 29% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 4.65 cents and EPS of 9.20 cents.
At the last closing share price the estimated dividend yield is 4.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.36.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 5.55 cents and EPS of 10.10 cents.
At the last closing share price the estimated dividend yield is 5.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.35.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CUV CLINUVEL PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $11.28
Wilsons rates ((CUV)) as Overweight (1) –
Wilsons is of the view competitive noise around Clinuvel Pharmaceuticals’ Scenesse’s position in erythropoietic protoporphyria (EPP) is more perception than reality.
The drug has held first-and-only status for over a decade, a remarkable feat in rare disease pharma, the broker highlights.
FY25 revenue was up 8% y/y but the timing of June/July sales meant a miss vs the broker’s forecast. Cash conversion was 100%, with net cash at $224m at year-end.
Modest changes to forecasts. The broker sees the outlook supported by a loyal prescriber/patient base, new EPP centres and broader utilisation (incl. adolescents).
Target rises to $32.84 from $30.00. Overweight retained.
This report was published on August 29, 2025.
Target price is $32.84 Current Price is $11.28 Difference: $21.56
If CUV meets the Wilsons target it will return approximately 191% (excluding dividends, fees and charges).
Current consensus price target is $18.53, suggesting upside of 64.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 7.00 cents and EPS of 82.10 cents.
At the last closing share price the estimated dividend yield is 0.62%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 69.8, implying annual growth of -3.4%.
Current consensus DPS estimate is 5.5, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 16.2.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 17.60 cents and EPS of 92.60 cents.
At the last closing share price the estimated dividend yield is 1.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 69.5, implying annual growth of -0.4%.
Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 16.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DDR DICKER DATA LIMITED
Hardware & Equipment – Overnight Price: $9.69
Jarden rates ((DDR)) as Buy (1) –
Jarden sees strong fundamentals at an earnings inflection point for Dicker Data, supported by PC and networking refresh cycles, AI hardware demand, a SMB recovery, interest deleverage, and leverage to a New Zealand economic rebound.
The broker posits the company offers good value for patient investors, especially given positive tailwinds (see above).
FY25 guidance for gross revenue is between $3.7-3.8bn, up 10-13% year-on-year. Profit (PBT) guidance of $120-124m implies to the broker 3.2-3.4% margins, representing a modest upgrade to the consensus forecast.
The introduction of formal guidance is seen as a positive for reducing investor uncertainty.
Jarden raises its target price to $11.20 from $11.00 and retains a Buy rating.
This report was published on August 29, 2025.
Target price is $11.20 Current Price is $9.69 Difference: $1.51
If DDR meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $9.98, suggesting upside of 3.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 EPS of 47.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.7, implying annual growth of 9.4%.
Current consensus DPS estimate is 47.2, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 20.3.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 51.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.1, implying annual growth of 9.2%.
Current consensus DPS estimate is 51.5, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 18.6.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((DDR)) as Overweight (1) –
Wilsons notes Dicker Data’s 1H25 result was solid and FY25 revenue guidance was higher than expected, though profit guidance pointed to a margin squeeze.
Gross revenue of $1.84bn was up 16% y/y and 4% higher than the broker’s forecast. Underlying gross profit was in line with forecast, but gross profit margin of 3.5% was -81bps lower and -50bps below the broker’s estimate.
The company continues to win larger enterprise-wide, but lower margin, deals, especially in AI/data centre infrastructure. The broker expects orders to scale meaningfully only once new data centres are built and commissioned.
FY25 revenue forecast lifted by 3% to meet the guidance, while profit before tax forecast trimmed by -5% after lowering margin estimate.
Overweight. Target marginally cut to $11.06 from $11.07.
This report was published on August 29, 2025.
Target price is $11.06 Current Price is $9.69 Difference: $1.37
If DDR meets the Wilsons target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $9.98, suggesting upside of 3.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 45.00 cents and EPS of 47.90 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 20.23.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.7, implying annual growth of 9.4%.
Current consensus DPS estimate is 47.2, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 20.3.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 46.60 cents and EPS of 50.30 cents.
At the last closing share price the estimated dividend yield is 4.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.1, implying annual growth of 9.2%.
Current consensus DPS estimate is 51.5, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 18.6.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DMP DOMINO’S PIZZA ENTERPRISES LIMITED
Food, Beverages & Tobacco – Overnight Price: $14.65
Petra Capital rates ((DMP)) as Buy (1) –
Domino’s Pizza Enterprises’ FY25 underlying earnings (EBIT) came in -1% below Petra Capital’s $200m forecast and consensus of $200.9m.
FY25 same store sales (SSS) fell -0.2% and are down -0.9% in early FY26, highlights the broker, with Japan and France weak, partly offset by Germany, Benelux and Malaysia.
A cost efficiency program targeting general and admin costs is underway, with savings to be reinvested into franchise economics, media and digital.
Commentary highlights pricing changes are also being trialed, shifting from discounting to everyday low pricing to simplify operations and support margins.
Domino’s closed -233 loss-making stores in Japan, delivering $15.5m in savings, while leverage of 2.57 times is above target, prompting a dividend payout ratio cut to 35%.
Petra Capital lowers its target price to $24.50 from $37.80 while retaining a Buy rating.
This report was published on August 28, 2025.
Target price is $24.50 Current Price is $14.65 Difference: $9.85
If DMP meets the Petra Capital target it will return approximately 67% (excluding dividends, fees and charges).
Current consensus price target is $18.60, suggesting upside of 27.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 46.70 cents and EPS of 133.30 cents.
At the last closing share price the estimated dividend yield is 3.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 128.3, implying annual growth of N/A.
Current consensus DPS estimate is 62.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 11.4.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 53.50 cents and EPS of 152.80 cents.
At the last closing share price the estimated dividend yield is 3.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 140.5, implying annual growth of 9.5%.
Current consensus DPS estimate is 65.9, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 10.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DSK DUSK GROUP LIMITED
Household & Personal Products – Overnight Price: $0.87
Canaccord Genuity rates ((DSK)) as Buy (1) –
Canaccord Genuity notes Dusk Group’s FY25 sales came in line with guidance, though momentum slowed in 2H vs 1H. Gross profit rose 7.5% y/y but was impacted by -68bps of margin pressure, mainly from promotional activity.
The broker reckons August sales of 4.8% y/y are more indicative of trading conditions, given July had an easier comp. The broker forecasts 17% growth in FY26 on headwinds from rejuvenation of the Signature range, and 25% growth in FY27.
Upside potential is seen from category extensions, collaborations, and improved omnichannel execution.
FY26 net profit forecast cut by -6% and FY27 by -8% on downgrade to EBIT and net profit margins.
Buy. Target trimmed to $1.30 from $1.40.
This report was published on September 1, 2025.
Target price is $1.30 Current Price is $0.87 Difference: $0.43
If DSK meets the Canaccord Genuity target it will return approximately 49% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 8.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 9.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.91.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 10.00 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 11.49%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.21.
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: $1.07
Petra Capital rates ((EML)) as Buy (1) –
EML Payments’ FY25 underlying earnings (EBITDA) of $58.6m were at the top of management’s $54-60m guidance range and in line with Petra Capital’s expectations.
FY26 guidance of $58-63m implies year-on-year growth, supported by sales pipeline growth, balance sheet strength and progress on Project Arlo, highlights the broker.
All of EML 2.0 transformation targets were reiterated, with the sales pipeline at $66m versus $60m expected and forecast to exceed $90m by December 2025.
Strong cash generation and a net cash position support future capital management, suggests the analyst, with structural tailwinds and internal initiatives underpinning growth.
Petra Capital maintains its Buy rating with a $1.70 target price.
This report was published on August 28, 2025.
Target price is $1.70 Current Price is $1.07 Difference: $0.63
If EML meets the Petra Capital target it will return approximately 59% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.14.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.05.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
FEX FENIX RESOURCES LIMITED
Iron Ore – Overnight Price: $0.37
Petra Capital rates ((FEX)) as Buy (1) –
FY25 for Fenix Resources marked a shift from a single mine to a multi-site operation, explains Petra Capital, with sales rising by 64% year-on-year to 2.4mt.
While revenue of $316m was below the analyst’s $331m forecast on weaker pricing, earnings (EBITDA) of $54m beat the broker’s $41m estimate. It’s noted operating cash flow (OCF) of $72m supported heavy capital spend and a $56.8m cash balance.
First-time FY26 sales guidance is for 4.0-4.4mt at C1 costs of -$70-80/wmt. A 1c fully franked dividend, equal to 137% of profit, reflects confidence in balance sheet and outlook, suggests the broker.
Petra Capital retains its 40c target price and Buy rating.
This report was published on August 28, 2025.
Target price is $0.40 Current Price is $0.37 Difference: $0.03
If FEX meets the Petra Capital target it will return approximately 8% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 1.25 cents and EPS of 4.70 cents.
At the last closing share price the estimated dividend yield is 3.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.87.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 1.50 cents and EPS of 1.60 cents.
At the last closing share price the estimated dividend yield is 4.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.13.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GLF GEMLIFE COMMUNITIES GROUP
Infra & Property Developers – Overnight Price: $4.62
Wilsons rates ((GLF)) as Overweight (1) –
Wilsons notes Gemlife Communities’ 1H25 result beat the prospectus forecasts, with revenue at $104.9m vs prospectus at $98.9m, and underlying net profit at $29m vs $26.8m.
The outperformance was primarily from the development segment as average selling price was 5% higher than prospectus and from stronger gross profit dollars. Corporate costs and D&A also came marginally below expectations.
The company reiterated FY25 settlement guidance at 333 homes, and the pipeline on June 30 stood at 58 home completions, 202 under construction, 233 under contract and 30 under expressions of interest.
No changes to forecasts, but target price lifted to $5.35 from $4.94 to reflect upside risks to prospectus forecasts.
Overweight retained.
This report was published on August 29, 2025.
Target price is $5.35 Current Price is $4.62 Difference: $0.73
If GLF meets the Wilsons target it will return approximately 16% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 1.10 cents and EPS of 22.60 cents.
At the last closing share price the estimated dividend yield is 0.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.44.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 1.60 cents and EPS of 27.40 cents.
At the last closing share price the estimated dividend yield is 0.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.86.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IGO IGO LIMITED
Nickel – Overnight Price: $4.85
Jarden rates ((IGO)) as Overweight (2) –
IGO Ltd’s FY25 net loss of -$955m was -9% worse than Jarden’s forecast due to higher than expected non-cash impairment of -$720m against Kwinana refinery and exploration assets.
The highlight was 66% EBITDA margin delivered by Greenbushes, generating $1.5bn operating cash flow despite the spodumene price decline. CGP first ore is expected by end-2025, with ramp-up expected in 12 months.
FY26 guidance was provided earlier. The broker lifted FY26 EBITDA by 2% to reflect modest changes to exploration/corporate costs.
Overweight. Target rises to $4.88 from $4.86.
This report was published on August 29, 2025.
Target price is $4.88 Current Price is $4.85 Difference: $0.03
If IGO meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $4.95, suggesting upside of 2.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 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 1616.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1.1, implying annual growth of N/A.
Current consensus DPS estimate is 0.5, implying a prospective dividend yield of 0.1%.
Current consensus EPS estimate suggests the PER is 440.9.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 2.00 cents and EPS of 14.10 cents.
At the last closing share price the estimated dividend yield is 0.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 34.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.3, implying annual growth of 1472.7%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 28.0.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IPD IMPEDIMED LIMITED
Medical Equipment & Devices – Overnight Price: $0.04
Wilsons rates ((IPD)) as Overweight (1) –
In Wilsons’ view, the investment debate for ImpediMed has shifted from proof-of-concept to scaling execution. The FY25 result showed progress with total contract value doubling to $19.2m.
The broker notes two years following the first US national payer announcement, reimbursement coverage for Sozo is now effectively established across the US. The major historical risks of clinical adoption and payer support have both been addressed
FY25 revenue missed expectations with a 24% y/y jump to $12.7m, falling short of the broker’s $17m forecast at the start of the year. Annual recurring revenue going into FY26 was $14.3m.
The broker reckons the bottleneck now lays in execution and resourcing, lowering revenue forecasts by -30-40% to reflect conservative win-rate assumptions under current resourcing.
Overweight. Target cut to 7c from 17c.
This report was published on August 29, 2025.
Target price is $0.07 Current Price is $0.04 Difference: $0.031
If IPD meets the Wilsons target it will return approximately 79% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 5.57.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.80.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IPG IPD GROUP LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $4.15
Taylor Collison rates ((IPG)) as Speculative Buy (1) –
IPD Group reported FY25 revenues which missed Taylor Collison’s expectations by -$10m, while adjusted earnings (EBIT) benefitted from robust cost controls and came in at the upper end of guidance range, albeit profit fell -6.6% on the prior year.
Margins fell nearly -2% in 2H on 1H due to competition and an increase in project revenues. The analyst notes the outlook remains challenging with ongoing general cost pressures, although the wholesale channel has seen some ‘green shoots’ of improvement.
Data centre sales advanced 30% to around one-sixth of group sales, and management pointed to similar growth in FY26.
Taylor Collison believes IPD is positioned for a market recovery and considers most of the earnings miss as cyclical.
Buy rating retained. Target unchanged at $4.50.
This report was published on August 25, 2025.
Target price is $4.50 Current Price is $4.15 Difference: $0.35
If IPG meets the Taylor Collison target it will return approximately 8% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 dividend of 14.00 cents and EPS of 27.90 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 14.87.
Forecast for FY27:
Taylor Collison forecasts a full year FY27 dividend of 15.70 cents and EPS of 31.30 cents.
At the last closing share price the estimated dividend yield is 3.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.26.
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: $19.40
Canaccord Genuity rates ((MMS)) as Hold (3) –
Canaccord Genuity notes McMillan Shakespeare’s FY25 underlying net profit was broadly in line with its forecast. While cost reductions supported margins, the broker highlights the divisional outlook remains mixed for FY26.
The GRS unit was impacted by the loss of the South Australian government contract, but this was offset by retail channel growth. The broker expects some yield moderation in 1H26 vs 2H25, though still above 1H25 levels.
FY26 EBITDA for the AMS business is expected to benefit from stable used car pricing, with a modest uplift expected in remarketing yields. The PPS unit is expected to continue benefiting from strong NDIS growth.
Overall, the broker lifted FY26 EPS forecast by 4.4% and FY27 by 5.3% to reflect operational improvements and cost efficiencies.
Target rises to $20.05 from $16.50, with an increase in GRS and AMS multiples the key reason. Hold maintained.
This report was published on August 29, 2025.
Target price is $20.05 Current Price is $19.40 Difference: $0.65
If MMS meets the Canaccord Genuity target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $20.10, suggesting upside of 3.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 171.00 cents and EPS of 162.00 cents.
At the last closing share price the estimated dividend yield is 8.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 155.5, implying annual growth of 13.6%.
Current consensus DPS estimate is 152.8, implying a prospective dividend yield of 7.9%.
Current consensus EPS estimate suggests the PER is 12.5.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 171.00 cents and EPS of 173.00 cents.
At the last closing share price the estimated dividend yield is 8.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.21.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 166.7, implying annual growth of 7.2%.
Current consensus DPS estimate is 159.6, implying a prospective dividend yield of 8.2%.
Current consensus EPS estimate suggests the PER is 11.6.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MSB MESOBLAST LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $2.12
Canaccord Genuity rates ((MSB)) as Buy (1) –
Mesoblast’s FY25 result broadly met Canaccord Genuity’s expectations, with the miss at the net profit line due to share-based payments and not indicative of operational weakness.
The broker notes the Ryoncil launch momentum has been encouraging, especially given the rarity of paediatric indications. Pipeline expansion (colitis + adult SR-aGvHD) broadens the addressable market but brings design/reimbursement uncertainties, in the broker’s view.
Next catalyst is the clinical read-out of the back pain study, which is expected to finish recruiting in the December quarter or early 2026.
Buy. Target rises to $3.04 from $2.97.
This report was published on September 1, 2025.
Target price is $3.04 Current Price is $2.12 Difference: $0.92
If MSB meets the Canaccord Genuity target it will return approximately 43% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 8.06 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 26.30.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 7.91 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 26.81.
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
MYX MAYNE PHARMA GROUP LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $5.28
Canaccord Genuity rates ((MYX)) as Buy (1) –
Mayne Pharma’s FY25 revenue of $408.1m was up 5% y/y and was ahead of Canaccord Genuity’s forecast of $393m. Gross margin of 60% was higher than FY24, and operating cash flow came in at $45.4m.
The key takeaway in the broker’s view was the result didn’t appear to violate MAC (material adverse change) clause, but there’s uncertainty due to Cosette’s attempt to terminate the acquisition deal.
No guidance was provided and focus remains on the outcome of the legal proceeding with Cosette. Next hearing is due to start September 22.
Buy. Target unchanged at $6.10.
This report was published on August 29, 2025.
Target price is $6.10 Current Price is $5.28 Difference: $0.82
If MYX meets the Canaccord Genuity target it will return approximately 16% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PXA PEXA GROUP LIMITED
Real Estate – Overnight Price: $15.92
Jarden rates ((PXA)) as Upgrade to Buy from Overweight (1) –
Pexa Group’s FY25 earnings (EBITDA) of $134m, rose by 17% year-on-year but but came in -4% below Jarden’s and consensus forecasts. International revenue was weaker and exchange margins lower than expected.
FY26 guidance of between $405-430m revenue and 32-35% margins implies to the broker respective -4% and -11% downgrades to consensus forecasts at midpoints. Capex guidance of -$60-65m was lower-than-expectated.
The broker cuts its FY26-FY28 EPS forecasts by -26% to -37% due to lower international and digital revenues, and higher UK costs, Terminal EPS are only reduced by -2% with UK market share assumptions intact at around 40%.
Jarden lowers its target price to $17.70 from $17.75 and upgrades Pexa Group to Buy from Overweight given the strong UK opportunity.
This report was published on August 29, 2025.
Target price is $17.70 Current Price is $15.92 Difference: $1.78
If PXA meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $16.80, suggesting upside of 5.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 28.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 33.9, 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 47.0.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 28.50 cents and EPS of 40.70 cents.
At the last closing share price the estimated dividend yield is 1.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 39.5, implying annual growth of 16.5%.
Current consensus DPS estimate is 7.3, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 40.3.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
QOR QORIA LIMITED
Software & Services – Overnight Price: $0.57
Wilsons rates ((QOR)) as Overweight (1) –
Wilsons highlights around 99% of Qoria’s top-line growth since FY22 has been organic. The FY25 result showed a clear organic growth trajectory, strong market share, and a widening execution gap over competitors.
The broker notes ARPU continues to increase against a stable cost base. Annual recurring revenue of $145m was up 50% y/y, with US the standout as revenue grew 29% y/y.
The company has recorded two consecutive years of organic growth over 20% and has guided to the same rate for FY26. The broker sees upside potential from larger contract wins outside the pipeline.
Overweight. Target rises to 72c from 66c.
This report was published on August 29, 2025.
Target price is $0.72 Current Price is $0.57 Difference: $0.145
If QOR meets the Wilsons target it will return approximately 25% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Wilsons forecasts a full year FY26 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 191.67.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 115.00.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RHC RAMSAY HEALTH CARE LIMITED
Healthcare services – Overnight Price: $33.66
Wilsons rates ((RHC)) as Market Weight (3) –
The key takeaway from Ramsay Health Care’s FY25 result in Wilsons’ view was the pressure on margins in the Australian business. UK and Europe margins were better than feared.
Group revenue rose 6% y/y, but within that, Australian revenue missed the broker’s forecast by -2%, UK was -4% lower than expected but Europe was 1% higher than estimated. Net profit fell -3% short of the broker’s estimate.
The broker remains of the view that risk from cost inflation exceeding indexation recovery remains, along with wage pressures. On the positive side, Australian private hospital activity and UK NHS demand are supportive of the outlook.
FY26 revenue forecast unchanged, but FY27 lifted by 1%. EBITDA over FY26-27 lowered by -7-9%.
Market Weight. Target trimmed to $37.00 from $38.50.
This report was published on August 29, 2025.
Target price is $37.00 Current Price is $33.66 Difference: $3.34
If RHC meets the Wilsons target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $36.29, suggesting upside of 7.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 77.40 cents and EPS of 124.10 cents.
At the last closing share price the estimated dividend yield is 2.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 142.7, implying annual growth of 4720.9%.
Current consensus DPS estimate is 90.0, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 23.6.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 111.80 cents and EPS of 179.10 cents.
At the last closing share price the estimated dividend yield is 3.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 166.8, implying annual growth of 16.9%.
Current consensus DPS estimate is 106.8, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 20.2.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SDF STEADFAST GROUP LIMITED
Insurance – Overnight Price: $6.19
Jarden rates ((SDF)) as Overweight (2) –
Steadfast Group’s FY25 underlying profit of $346.2m was in line with guidance of $340-350m and Jarden’s forecasts. Revenue from consolidated entities was slightly weaker-than-expected, though tighter cost control lifted earnings (EBITA) above expectations.
Broking revenue and EBITA grew 7% despite weaker gross written premium trends, while agency earnings rose 10% with strong revenue margins partly offsetting softer growth in the second half.
The broker highlights the acquisition of a majority stake in US-based Novum Underwriting Partners, signaling an acceleration of Steadfast’s international expansion as domestic premium tailwinds moderate.
While organic growth is slowing, the group continues to diversify with acquisitions and synergies from scale, highlight the analysts.
Jarden raises its target price to $6.90 from $6.75 and retains a Buy rating.
This report was published on August 29, 2025.
Target price is $6.90 Current Price is $6.19 Difference: $0.71
If SDF meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $6.89, suggesting upside of 11.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 21.10 cents and EPS of 33.40 cents.
At the last closing share price the estimated dividend yield is 3.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.53.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.4, implying annual growth of 3.4%.
Current consensus DPS estimate is 21.5, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 19.7.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 22.90 cents and EPS of 36.10 cents.
At the last closing share price the estimated dividend yield is 3.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 33.9, implying annual growth of 8.0%.
Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 18.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SFR SANDFIRE RESOURCES LIMITED
Copper – Overnight Price: $12.35
Jarden rates ((SFR)) as Downgrade to Neutral from Buy (3) –
Jarden regards Sandfire Resources’ FY25 result as unusually messy but broadly meeting its forecast at the underlying EBITDA and EBIT line, missing at the EBT line, but beating at the reporting net profit level.
The highlights were consistent cash generation and an improved balance sheet, with FY26 guidance viewed as robust.
The broker lifted FY26 EBITDA forecast by 2% but trimmed FY27 by -4% on higher costs, partly offset by greater precious metals credit.
Target cut to $11.00 from $11.20. Rating downgraded to Neutral from Buy.
This report was published on August 29, 2025.
Target price is $11.00 Current Price is $12.35 Difference: minus $1.35 (current price is over target).
If SFR 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 $12.00, suggesting downside of -2.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 6.20 cents and EPS of 71.47 cents.
At the last closing share price the estimated dividend yield is 0.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 65.2, implying annual growth of N/A.
Current consensus DPS estimate is 7.6, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 18.9.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 32.56 cents and EPS of 74.57 cents.
At the last closing share price the estimated dividend yield is 2.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 80.6, implying annual growth of 23.6%.
Current consensus DPS estimate is 20.2, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 15.3.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SIQ SMARTGROUP CORPORATION LIMITED
Vehicle Leasing & Salary Packaging – Overnight Price: $9.10
Canaccord Genuity rates ((SIQ)) as Upgrade to Buy from Hold (1) –
Smartgroup Corp’s 1H25 result was largely in line with Canaccord Genuity’s forecast, and the highlight was the company announcing FY27 EBITDA margin target of mid-40%s.
The broker previously had 41% EBITDA margin estimate for FY27, but revised it to 42.9%, noting material upside potential if the company achieves the target.
In the short term, the broker sees headwinds from tougher comps due to prior-year PHEV FBT settlements, with some yield pressure likely to weigh further.
FY25-26 revenue forecasts cut by 3.2% and 2.4% respectively, and FY27 revenue raised by 0.2%, with offset from a lift in EBITDA margins. The net result is a cut in FY25-26 net profit forecasts, but a lift to FY27.
Target rises to $9.10 from $8.70. Rating upgraded to Buy from Hold.
This report was published on August 28, 2025.
Target price is $9.10 Current Price is $9.10 Difference: $0
If SIQ meets the Canaccord Genuity target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $9.27, suggesting upside of 1.8%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 40.00 cents and EPS of 59.00 cents.
At the last closing share price the estimated dividend yield is 4.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 60.3, implying annual growth of 3.5%.
Current consensus DPS estimate is 48.9, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 15.1.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 60.00 cents and EPS of 63.00 cents.
At the last closing share price the estimated dividend yield is 6.59%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 63.7, implying annual growth of 5.6%.
Current consensus DPS estimate is 52.1, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 14.3.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SVR SOLVAR LIMITED
Business & Consumer Credit – Overnight Price: $1.61
Canaccord Genuity rates ((SVR)) as Buy (1) –
Canaccord Genuity notes Solvar delivered strong strategic and balance sheet progress in FY25, but top-line growth remains subdued.
Gross loan book was $910.1m, but originations fell -8.6% y/y. The company attributes this to tighter credit standards and has formed a dedicated commercial division to drive growth in existing distribution channels.
Net interest income was up 4.6% y/y, but net interest margin contracted -60bps y/y.
The broker cut FY26-27 net profit forecasts by -11% on flatter-than-expected book growth exiting FY25 and lower yield assumptions.
Target rises to $2.00 from $1.80 as earnings downgrades were offset by a rise in valuation multiple. Buy retained.
This report was published on September 1, 2025.
Target price is $2.00 Current Price is $1.61 Difference: $0.39
If SVR meets the Canaccord Genuity target it will return approximately 24% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 12.00 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 7.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.47.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 13.00 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 8.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.47.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WPR WAYPOINT REIT LIMITED
REITs – Overnight Price: $2.71
Jarden rates ((WPR)) as Neutral (3) –
At the interim results presentation, management at Waypoint REIT lifted FY25 guidance by 1%, though Petra Capital notes this was due to the $50m share buyback rather than underlying earnings growth.
Net tangible assets (NTA) rose 4.7% over the half, the fourth highest among REITs under coverage by the broker, with -6bps of cap rate compression signalling improving transaction conditions.
The broker highlights progress on capital management, with two-thirds of the buyback completed at a -10% discount to NTA, alongside $34.5m of disposals at a -1% discount to book value.
Liquidity of $138m is being prioritised for the OTR rollout, further capital management and potential acquisitions, observe the analysts.
Petra Capital modestly raises its FY26-FY28 funds from operations (FFO) forecasts by up to 0.9% and retains its $2.85 target price and Neutral rating.
This report was published on August 29, 2025.
Target price is $2.85 Current Price is $2.71 Difference: $0.14
If WPR meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.57, suggesting downside of -5.3%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 17.00 cents.
At the last closing share price the estimated dividend yield is 6.27%.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.3, implying annual growth of -16.7%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 16.6.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 17.50 cents.
At the last closing share price the estimated dividend yield is 6.46%.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.0, implying annual growth of 4.3%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 15.9.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
XRO XERO LIMITED
Accountancy – Overnight Price: $158.89
Wilsons rates ((XRO)) as Overweight (1) –
Wilsons believes Xero’s acquisition of Melio will materially accelerate its US expansion and enhance the overall product offering.
The deal is worth -US$2.6bn upfront, with up to -US$0.5bn in earn-outs over three years.
Funding will come from a mix of equity (including a $1.2bn placement at $176 per share), existing cash, debt, and a non-underwritten share purchase plan (SPP) for circa $200m.
Melio, with 80,000 customers and US$153m in FY25 revenue, recorded 88% revenue growth, highlights Wilsons, and boasts an average revenue per user (ARPU) 14 times higher than Xero’s current US levels.
Wilsons increases its target price to $217.26 from $213.00 and retains an Overweight rating.
This report was published on June 26, 2025.
Target price is $217.26 Current Price is $158.89 Difference: $58.37
If XRO meets the Wilsons target it will return approximately 37% (excluding dividends, fees and charges).
Current consensus price target is $213.17, suggesting upside of 34.2%(ex-dividends)
The company’s fiscal year ends in March.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 314.54 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 50.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 192.5, 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 82.5.
Forecast for FY27:
Wilsons forecasts a full year FY27 dividend of 0.00 cents and EPS of 429.24 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 260.0, implying annual growth of 35.1%.
Current consensus DPS estimate is 11.2, implying a prospective dividend yield of 0.1%.
Current consensus EPS estimate suggests the PER is 61.1.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
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.
Click to view our Glossary of Financial Terms
CHARTS
For more info SHARE ANALYSIS: ADH - ADAIRS LIMITED
For more info SHARE ANALYSIS: APE - EAGERS AUTOMOTIVE LIMITED
For more info SHARE ANALYSIS: BAP - BAPCOR LIMITED
For more info SHARE ANALYSIS: BET - BETMAKERS TECHNOLOGY GROUP LIMITED
For more info SHARE ANALYSIS: BOE - BOSS ENERGY LIMITED
For more info SHARE ANALYSIS: BOL - BOOM LOGISTICS LIMITED
For more info SHARE ANALYSIS: BRI - BIG RIVER INDUSTRIES LIMITED
For more info SHARE ANALYSIS: BVS - BRAVURA SOLUTIONS LIMITED
For more info SHARE ANALYSIS: CCX - CITY CHIC COLLECTIVE LIMITED
For more info SHARE ANALYSIS: CHL - CAMPLIFY HOLDINGS LIMITED
For more info SHARE ANALYSIS: CMM - CAPRICORN METALS LIMITED
For more info SHARE ANALYSIS: CUP - COUNT LIMITED
For more info SHARE ANALYSIS: CUV - CLINUVEL PHARMACEUTICALS LIMITED
For more info SHARE ANALYSIS: DDR - DICKER DATA LIMITED
For more info SHARE ANALYSIS: DMP - DOMINO'S PIZZA ENTERPRISES LIMITED
For more info SHARE ANALYSIS: DSK - DUSK GROUP LIMITED
For more info SHARE ANALYSIS: EML - EML PAYMENTS LIMITED
For more info SHARE ANALYSIS: FEX - FENIX RESOURCES LIMITED
For more info SHARE ANALYSIS: GLF - GEMLIFE COMMUNITIES GROUP
For more info SHARE ANALYSIS: IGO - IGO LIMITED
For more info SHARE ANALYSIS: IPD - IMPEDIMED LIMITED
For more info SHARE ANALYSIS: IPG - IPD GROUP LIMITED
For more info SHARE ANALYSIS: MMS - MCMILLAN SHAKESPEARE LIMITED
For more info SHARE ANALYSIS: MSB - MESOBLAST LIMITED
For more info SHARE ANALYSIS: MYX - MAYNE PHARMA GROUP LIMITED
For more info SHARE ANALYSIS: PXA - PEXA GROUP LIMITED
For more info SHARE ANALYSIS: QOR - QORIA LIMITED
For more info SHARE ANALYSIS: RHC - RAMSAY HEALTH CARE LIMITED
For more info SHARE ANALYSIS: SDF - STEADFAST GROUP LIMITED
For more info SHARE ANALYSIS: SFR - SANDFIRE RESOURCES LIMITED
For more info SHARE ANALYSIS: SIQ - SMARTGROUP CORPORATION LIMITED
For more info SHARE ANALYSIS: SVR - SOLVAR LIMITED
For more info SHARE ANALYSIS: WPR - WAYPOINT REIT LIMITED
For more info SHARE ANALYSIS: XRO - XERO LIMITED