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.
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
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ACF ALK AUC BSL CPU DMP EBR EOS FLT (2) GNC HRZ IFT ING KCN MIN ORI RDY RRL SFR SLC (2) TOR XRO
ACF ACROW LIMITED
Building Products & Services - Overnight Price: $1.03
Petra Capital rates ((ACF)) as Buy (1) -
Acrow’s AGM trading update showed guidance slightly below Petra Capital's forecasts, but commentary on project momentum was upbeat, according to the analyst.
The broker notes screens and jumpform remain strong while formwork softness in southeast Queensland is expected to recover through 2H26.
Petra Capital believes construction activity tied to the Brisbane Olympics, including $10–30bn in peripheral projects, will drive long-term earnings and debt reduction opportunities.
The broker also expects industrial access growth to underpin near-term stability and future acquisitions. A Buy rating is maintained and the target is lowered to $1.64 from $1.68.
This report was published on November 17, 2025.
Target price is $1.64 Current Price is $1.03 Difference: $0.605
If ACF meets the Petra Capital target it will return approximately 58% (excluding dividends, fees and charges).
Current consensus price target is $1.26, suggesting upside of 22.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 4.60 cents and EPS of 10.90 cents.
At the last closing share price the estimated dividend yield is 4.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.3, implying annual growth of 36.1%.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 10.0.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 7.00 cents and EPS of 15.20 cents.
At the last closing share price the estimated dividend yield is 6.76%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.4, implying annual growth of 20.4%.
Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 8.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALK ALKANE RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.94
Moelis rates ((ALK)) as Buy (1) -
Moelis observes Alkane Resources’ quarterly update contained no surprises. The broker reiterates its positive investment stance given valuation support and near-term production growth.
Alkane’s merger with Mandalay could lift annual output to around 180koz by FY27, suggest the analysts, positioning it ahead of peers despite a lower market capitalisation.
It’s thought the stock’s discount reflects investor unfamiliarity, smaller asset diversity, and dual listing opacity, though sustained performance should narrow the gap.
Moelis retains a Buy rating and target of $1.65.
This report was published on November 17, 2025.
Target price is $1.65 Current Price is $0.94 Difference: $0.71
If ALK meets the Moelis target it will return approximately 76% (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 14.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.71.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.87.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AUC AUSGOLD LIMITED
Gold & Silver - Overnight Price: $0.88
Canaccord Genuity rates ((AUC)) as Speculative Buy (1) -
Canaccord Genuity notes Ausgold's Katanning gold project has been selected by the Western Australian government as a significant development and will enter the "priority approvals" regime.
The company has signed a binding agreement to acquire a substantial freehold position critical to the development. A major 44,000 RC and diamond drill program commenced in October. Initial assays will be forthcoming in the December quarter. The broker retains a $2.05 target and Speculative Buy.
This report was published on November 13, 2025.
Target price is $2.05 Current Price is $0.88 Difference: $1.17
If AUC meets the Canaccord Genuity target it will return approximately 133% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three source
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