Daily Market Reports | 10:30 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
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COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ALK ALL ASB CIP HGO LTR PNR RMS RSG SDR (2) SHA (2) SYR WGX (2) WOW WTC
ALK ALKANE RESOURCES LIMITED
Gold & Silver - Overnight Price: $1.02
Moelis rates ((ALK)) as Buy (1) -
Moelis notes Alkane Resources’ first quarterly production update following the Mandalay Resources acquisition showed slightly softer output but lower-than-expected costs across new assets.
Group production totalled 30koz gold at an average realised price of $4,896/oz and an AISC of -$2,988/oz, with results partly impacted by timing, given only 60% of Costerfield and Bjorkdal output was attributable.
Positively, operating costs at both new assets were materially below initial forecasts, suggesting potential upside to cost assumptions.
The broker also highlighted progress at Tomingley, where highway relocation works have commenced to enable open-pit development at San Antonio.
Moelis lifts its commodity price deck, resulting in a 10% increase in the target price to $1.65, with a positive view and Buy rating retained.
This report was published on October 29, 2025.
Target price is $1.65 Current Price is $1.02 Difference: $0.63
If ALK meets the Moelis target it will return approximately 62% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 17.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.83.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.26.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALL ARISTOCRAT LEISURE LIMITED
Gaming - Overnight Price: $64.07
Jarden rates ((ALL)) as Neutral (3) -
Jarden previews upcoming results for Aristocrat Leisure and Light & Wonder ((LNW)) and maintains a Buy rating on both.
The broker forecasts Aristocrat’s FY25 EPS will be broadly flat at 245c, with the FY26 estimate raised 1% to 281c and longer-term forecasts lifted 5-10% on revised currency assumptions.
The broker upgrades Aristocrat to Buy and raises its target 7% to $75.00.
The analysts prefer Light & Wonder on valuation and growth prospects.
This report was published on October 27, 2025.
Target price is $75.00 Current Price is $64.07 Difference: $10.93
If ALL meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $74.87, suggesting upside of 16.9%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 98.00 cents and EPS of 245.10 cents.
At the last closing share price the estimated dividend yield is 1.53%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 248.0, implying annual growth of 21.1%.
Current consensus DPS estimate is 88.1, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 25.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 112.00 cents and EPS of 281.10 cents.
At the last closing share price the estimated dividend yield is 1.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 276.4, implying annual growth of 11.5%.
Current consensus DPS estimate is 95.2, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 23.2.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASB AUSTAL LIMITED
Commercial Services & Supplies - Overnight Price: $6.78
Petra Capital rates ((ASB)) as Hold (3) -
Austal’s AGM update included FY26 earnings (EBIT) guidance of $135m, a record result if achieved, notes Petra Capital, supported by a record order book and sustained US shipbuilding momentum.
The outlook reflects solid operational traction, though the analyst points out around one-fifth of the uplift stems from accounting recognition of the US Navy’s MMF3 incentive contract, amortised over nine years.
The broker explains underlying FY26 earnings guidance implies a -3% year-on-year decline. The analyst's forecast margins are trimmed to 5.2% from 5.4%.
Petra Capital retains a Hold rating and $7.07 target.
This report was published on October 29, 2025.
Target price is $7.07 Current Price is $6.78 Difference: $0.29
If ASB meets the Petra Capital target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $7.99, suggesting upside of 17.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 11.00 cents and EPS of 16.30 cents.
At the last closing share price the estimated dividend yield is 1.62%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.6, implying annual growth of -12.9%.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 32.9.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 21.00 cents and EPS of 29.30 cents.
At the last closing share price the estimated dividend yield is 3.10%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.3, implying annual growth of 27.7%.
Current consensus DPS estimate is 3.0, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 25.8.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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