Daily Market Reports | 11:10 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
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)
ASG (3) AX1 CRD CSL ELD ERD (3) GG8 GMD GTK IPH LOV MVF OCA QBE RIC SGQ SKS SYL
ASG AUTOSPORTS GROUP LIMITED
Automobiles & Components - Overnight Price: $4.60
Canaccord Genuity rates ((ASG)) as Buy (1) -
Autosports Group provided earnings guidance for the first half at the AGM which was ahead of Canaccord Genuity's estimates, also announcing acquisition of multiple dealerships in Victoria.
The broker assesses trading results and growth in new orders show strong momentum and there is scope for a substantial recovery into the second half and FY27.
Canaccord Genuity retains a Buy rating and raises its target to $4.94 from $4.91.
This report was published on November 21, 2025.
Target price is $4.94 Current Price is $4.60 Difference: $0.34
If ASG meets the Canaccord Genuity target it will return approximately 7% (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 14.80 cents and EPS of 24.60 cents.
At the last closing share price the estimated dividend yield is 3.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.70.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 19.60 cents and EPS of 32.60 cents.
At the last closing share price the estimated dividend yield is 4.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.11.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((ASG)) as Overweight (2) -
Autosports Group has continued to take share in an outperforming luxury market, with Jarden noting "normalised" first half pre-tax profit guidance is ahead of expectations.
The company expects to deliver further accretive acquisitions over the remainder of FY26 and FY27 and the broker envisages upside to current forecasts if this occurs.
The luxury market has been growing strongly (up 8.2% in the financial year to date), ahead of the broader market (up 3.1%), and the company has outperformed.
Jarden raises its target to $4.30 from $3.35 and maintains a Overweight rating.
This report was published on November 21, 2025.
Target price is $4.30 Current Price is $4.60 Difference: minus $0.3 (current price is over target).
If ASG meets the Jarden target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 12.50 cents and EPS of 28.50 cents.
At the last closing share price the estimated dividend yield is 2.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.14.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 15.20 cents and EPS of 34.30 cents.
At the last closing share price the estimated dividend yield is 3.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.41.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Moelis rates ((ASG)) as Buy (1) -
Autosports Group’s AGM trading update revealed material growth, highlights Moelis, and the acquisition of 10 Barry Bourke dealerships is expected to lift earnings immediately.
The broker believes the -$34m purchase will strengthen OEM relationships and broaden Autosports' luxury exposure across key Victorian markets.
Management’s guidanced to 1H FY26 normalised profit before tax of between $35m-$36m, materially above the prior period, observes the analyst.
Moelis raises its target price to $5.05 from $4.85 and retains a Buy rating. It's felt the group's brand mix and disciplined cost base position the business to benefit from increasingly resilient industry conditions.
This report was published on November 24, 2025.
Target price is $5.05 Current Price is $4.60 Difference: $0.45
If ASG meets the Moelis target it will return approximately 10% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 11.60 cents and EPS of 27.10 cents.
At the last closing share price the estimated dividend yield is 2.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.97.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 14.70 cents and EPS of 34.40 cents.
At the last closing share price the estimated dividend yield is 3.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.37.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AX1 ACCENT GROUP LIMITED
Apparel & Footwear - Overnight Price: $0.95
Jarden rates ((AX1)) as Neutral (3) -
Accent Group posted a "weak" AGM update, in Jarden's view, with first half EBIT guidance -28% below market expectations.
Commentary posits, despite the improving macro backdrop, the company is facing many challenges within its lifestyle business, affected by weaker demand and rising discounts. This sport segment is better and the first Sports Direct store is now open.
Jarden reduces FY26 estimates for earnings to reflect guidance, cutting FY26 EPS by -34% and FY27-28 by -8-11%,, pointing out the business is "increasingly complicated" and not allowing its portfolio of brands to yield the benefits of scale and diversification.
Neutral. Target is reduced to $1.20 from $1.46. Coverage is transferred to another analyst.
This report was published on November 21, 2025.
Target price is $1.20 Current Price is $0.95 Difference: $0.245
If AX1 meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $1.07, suggesting upside of 11.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 2.30 cents and EPS of 6.90 cents.
At the last closing share price the estimated dividend yield is 2.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.0, implying annual growth of -30.8%.
Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 13.6.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 6.50 cents and EPS of 9.40 cents.
At the last closing share price the estimated dividend yield is 6.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.7, implying annual growth of 24.3%.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 11.0.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CRD CONRAD ASIA ENERGY LIMITED
Crude Oil - Overnight Price: $0.70
Canaccord Genuity rates ((CRD)) as Speculative Buy (1) -
Canaccord Genuity notes Conrad Asia Energy is farming down Mako to Nations (Arsari Group), keeping operatorship and 25% stake.
Nations takes a 75% stake and carries Conrad's share of the -US$320m development via a carry loan repayable from Conrad's future production revenues.
The implied asset valuation of US$0.21/mcf for 286Bcf gross of the 376Bcf 2C resource is below the broker's valuation expectations, leading to a price target cut to $1.19 from $1.60.
Capex and timing are unchanged, with first gas targeted in 4Q2027, and pricing expected to mirror prior approvals, modelled at an 11% oil-linked slope (US$8.5/GJ). Speculative Buy maintained.
This report was published on November 20, 2025.
Target price is $1.19 Current Price is $0.70 Difference: $0.485
If CRD meets the Canaccord Genuity target it will return approximately 69% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 8.88 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.94.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 5.61 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 12.58.
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
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