Weekly Reports | 11:00 AM
This story features LIFESTYLE COMMUNITIES LIMITED.
For more info SHARE ANALYSIS: LIC
The company is included in ASX300 and ALL-ORDS
A summary of the highlights from Broker Call Extra updates throughout the week past.
Broker Rating Changes (Post Monday)
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LIFESTYLE COMMUNITIES LIMITED ((LIC)) Upgrade to Buy from Hold by Canaccord Genuity.B/H/S: 0/0/0
Lifestyle Communities reported steady net new home sales of 50 in 1Q26, with strong forward indicators ahead of the spring sales period. This compared with 48 net new home sales in 4Q25, Canaccord Genuity notes.
Inventory of unsold completed homes fell -16% to 216, while development spend remains minimal. The broker highlights the new “Way to Live” brand platform has lifted appointment rates, supporting sales momentum.
Net debt reduced to $347.7m from $460.5 in FY25, and is ahead of December guidance of $345-355m, driven by accelerated land sale settlements.
No changes to forecasts. The VCAT deferred management fee appeal remains ongoing with $78m provision already booked.
Rating upgraded to Buy from Hold. Target rises to $6.50 from $6.00.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Upgrade | |||||
| 1 | LIFESTYLE COMMUNITIES LIMITED | Buy | Neutral | Canaccord Genuity | |
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| ACE | Acusensus | $1.79 | Canaccord Genuity | 2.00 | 1.65 | 21.21% |
| CSL | CSL | $220.29 | Jarden | 304.17 | 298.13 | 2.03% |
| D2O | Duxton Water | $1.53 | Petra Capital | 2.08 | 2.07 | 0.48% |
| ELD | Elders | $7.68 | Canaccord Genuity | 8.15 | 8.22 | -0.85% |
| KCN | Kingsgate Consolidated | $4.07 | Canaccord Genuity | 5.50 | 4.95 | 11.11% |
| LIC | Lifestyle Communities | $5.48 | Canaccord Genuity | 6.50 | 6.00 | 8.33% |
| MM8 | Medallion Metals | $0.57 | Petra Capital | 0.89 | 0.88 | 1.14% |
| NWH | NRW Holdings | $4.90 | Canaccord Genuity | 5.20 | 4.77 | 9.01% |
| PDN | Paladin Energy | $9.87 | Canaccord Genuity | 12.50 | 13.05 | -4.21% |
| SRG | SRG Global | $2.74 | Moelis | 2.81 | 2.00 | 40.50% |
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
AEE AURA ENERGY LIMITED
Energy – Overnight Price: $0.24
Petra Capital rates ((AEE)) as Buy (1) –
Petra Capital continues to be upbeat on the uranium outlook and sector, pointing to positive demand tailwinds and rising headwinds to supply, including a reduction in 2025 production guidance from Cameco and Kazatomprom lowering its production capability for 2026.
The World Nuclear Association (WNA) estimates known supply for U308 will be down by -7% in 2040, with a forecast lift in expected nuclear generating capacity by 60GW in 2040.
This equates to a NexGen Energy worth of U308 demand added in two years, the analyst states.
Aura Energy remains a preferred ASX exposure with a Buy rating and a 38c target price. Petra Capital believes the market doesn’t value the likely future expansion to Tiris or the potential regional upside with other Tiris-like projects to eventuate.
The report suggests Aura offers real “provincial scale” and Haggan, although a secondary asset, should benefit from a change in stance from Sweden.
This report was published on October 9, 2025.
Target price is $0.38 Current Price is $0.24 Difference: $0.14
If AEE meets the Petra Capital target it will return approximately 58% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BRE BRAZILIAN RARE EARTHS LIMITED
Rare Earth Minerals – Overnight Price: $5.00
Canaccord Genuity rates ((BRE)) as Speculative Buy (1) –
Canaccord Genuity highlights Brazilian Rare Earths’ Amargosa bauxite project in Bahia as a large-scale development opportunity. Acquired from Rio Tinto ((RIO)) for -US$3.9m, the project covers 748sqkm.
A maiden Resource of 567.8mt at 29.8% total available alumina (TAA) has been defined, including 97.9mt of high-grade direct shipping ore (DSO) at 41.9% TAA, note the analysts, which compares favourably with existing DSO products.
The broker sees potential for a low-cost, near-term DSO operation of 5mtpa using existing infrastructure, estimating a post-tax internal rate of return (IRR) of 41% and a two-year payback.
Further upside exists from beneficiation, gallium by-products, and future rail access, highlights Canaccord. The Speculative Buy rating and $5.65 target price are unchanged.
This report was published on October 8, 2025.
Target price is $5.65 Current Price is $5.00 Difference: $0.65
If BRE meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CSL CSL LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $216.45
Jarden rates ((CSL)) as Overweight (2) –
CSL reported the loss of a large NHS Ig contract, offset by a tender victory in Australia for Ig supply worth $1.1bn.
Jarden expects the pricing for this contract extension will be better than the original contract pricing negotiated pre-covid in 2020, and the volume may offer gross margin upside to Behring.
The biotech has also won a tender with the National Blood Authority to supply $73.6m of Idelvion over three years from July 2025.
Jarden highlights none of the tender wins are included in current forecasts, with the contract extension only at the end of September, but views there to be upside potential for management’s FY26 net profit after tax guidance in constant currency terms.
Target rises to $304.17 from $298.13. Overweight rating retained.
This report was published on October 13, 2025.
Target price is $304.17 Current Price is $216.45 Difference: $87.72
If CSL meets the Jarden target it will return approximately 41% (excluding dividends, fees and charges).
Current consensus price target is $275.39, suggesting upside of 27.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 366.31 cents and EPS of 846.79 cents.
At the last closing share price the estimated dividend yield is 1.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1114.6, implying annual growth of N/A.
Current consensus DPS estimate is 504.6, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 19.4.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 508.48 cents and EPS of 1130.66 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 19.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1255.0, implying annual growth of 12.6%.
Current consensus DPS estimate is 554.4, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 17.2.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
D2O DUXTON WATER LIMITED
Agriculture – Overnight Price: $1.53
Petra Capital rates ((D2O)) as Buy (1) –
Petra Capital scans across the latest winter rain updates, noting the winter period has failed to refill dam levels ahead of the season drawdown.
The robust snow season will provide some offset in terms of melt, but above-average rainfall is now required to lift dam levels, and the BOM has recently forecast a weak La Niña in spring.
Duxton Water continues to be well positioned to reap the benefits of ongoing dry conditions. The analyst proposes the company’s earnings and cash flow should benefit as Australia moves away from a period dominated by La Niñas.
Buy rating retained with a $2.08 target price.
This report was published on October 13, 2025.
Target price is $2.08 Current Price is $1.53 Difference: $0.55
If D2O meets the Petra Capital target it will return approximately 36% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 7.40 cents and EPS of 18.40 cents.
At the last closing share price the estimated dividend yield is 4.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.32.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 7.70 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 5.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.30.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GMG GOODMAN GROUP
Infra & Property Developers – Overnight Price: $32.89
Jarden rates ((GMG)) as Buy (1) –
Jarden believes the market is pricing in the broker’s most “bearish” outcome for Goodman Group, which is considered very conservative and assumes a decline of -5% in the group’s book value when logistics cap rates are starting to compress.
The market also appears to be discounting only $19.6bn of cumulative development profits over the next decade, against what the analyst expects to be at least $35-$40bn to be sourced from the data centre pipeline “alone.”
Management anticipates logistics to generate 30%-40% of the future development mix, inferring cumulative development profits could beat $35bn-$40bn again over the next decade.
Jarden’s bear case assumes management income will grow at a CAGR of 3.9% for FY26-FY29 versus a 21% CAGR achieved from FY15-FY25. Retain Buy with $41.10 target price.
This report was published on October 13, 2025.
Target price is $41.10 Current Price is $32.89 Difference: $8.21
If GMG meets the Jarden target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $37.82, suggesting upside of 15.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 30.00 cents and EPS of 130.40 cents.
At the last closing share price the estimated dividend yield is 0.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 130.0, implying annual growth of 52.2%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 25.3.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 30.00 cents and EPS of 146.70 cents.
At the last closing share price the estimated dividend yield is 0.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 143.3, implying annual growth of 10.2%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 23.0.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NWH NRW HOLDINGS LIMITED
Mining Sector Contracting – Overnight Price: $4.98
Canaccord Genuity rates ((NWH)) as Buy (1) –
Post completion of the Fredon acquisition, NRW Holdings has given a trading update which beat Canaccord Genuity’s expectations and points to a robust 1Q26 operating performance.
Against a positive mining macro backdrop, the company experienced better activity levels across all segments of the business as well as better weather in Qld.
FY26 guidance is for revenue over $4bn versus the analyst’s $4.1bn forecast and earnings (EBITDA) of $255m-$265m. At the midpoint, the new guidance infers a 4% earnings upgrade to the previous Canaccord estimate.
Buy rating maintained with a rise in the target price to $5.20 from $4.77. Although a material contract is concluding in FY27, the analyst points to a very strong pipeline.
This report was published on October 8, 2025.
Target price is $5.20 Current Price is $4.98 Difference: $0.22
If NWH meets the Canaccord Genuity target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $4.90, suggesting downside of -1.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 20.60 cents and EPS of 34.70 cents.
At the last closing share price the estimated dividend yield is 4.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.35.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 34.5, implying annual growth of 469.3%.
Current consensus DPS estimate is 19.5, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 14.4.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 22.40 cents and EPS of 37.90 cents.
At the last closing share price the estimated dividend yield is 4.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.8, implying annual growth of 9.6%.
Current consensus DPS estimate is 20.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 13.2.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PNR PANTORO GOLD LIMITED
Gold & Silver – Overnight Price: $6.19
Moelis rates ((PNR)) as Hold (3) –
Moelis is encoraged by Pantoro Gold’s underground drilling results from the Bullen Decline at its Norseman project, including intercepts of 0.68m at 137.2g/t gold and 1.37m at 15.7g/t.
These results come from outside historically mined areas, highlights the analyst, and confirm the high-grade tenor of mineralisation near the Bullen West stoping zone.
The broker sees ongoing exploration upside, with Pantoro holding a 6.2mt underground resource at 11.2g/t gold for 2.2moz.
Moelis remains cautious ahead of the September quarter results following Pantoro’s 103% share price rally, suggesting any short-term weakness could present a buying opportunity.
Hold rating. Target $5.25.
This report was published on October 13, 2025.
Target price is $5.25 Current Price is $6.19 Difference: minus $0.94 (current price is over target).
If PNR meets the Moelis target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.99, suggesting downside of -3.3%(ex-dividends)
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 48.22 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 65.8, implying annual growth of 7463.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.4.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 36.98 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 69.9, implying annual growth of 6.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.9.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SOM SOMNOMED LIMITED
Medical Equipment & Devices – Overnight Price: $0.86
Canaccord Genuity rates ((SOM)) as Buy (1) –
Canaccord Genuity maintains a Buy rating and $1.00 target price on SomnoMed with no changes to forecasts, believing the stock remains the best medtech turnaround on the ASX in “living memory”.
Under new management, the broker highlights FY25 revenue of $111.5m, up 22% with $9.2m earnings (EBITDA), the first meaningful profit in its coverage history, supported by improved order fulfilment, US demand, and market share gains.
FY26 guidance of $119–126m revenue and $10–12m EBITDA is ahead of prior forecasts, with margin expansion expected as corporate and R&D costs stabilise.
RestAssure, a connected care initiative, is progressing at negligible incremental cost, offering potential to address US physician hesitancy towards oral appliance therapy.
This report was published on October 10, 2025.
Target price is $1.00 Current Price is $0.86 Difference: $0.14
If SOM meets the Canaccord Genuity target it will return approximately 16% (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 1.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 78.18.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 57.33.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
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