Daily Market Reports | Nov 26 2025
This story features AUTOSPORTS GROUP LIMITED, and other companies.
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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)
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
CSL CSL LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $182.14
Jarden rates ((CSL)) as Overweight (2) –
CSL, at its AGM, has highlighted a -US$150m reduction in albumin revenue as a result of Chinese government policy.
To offset this, the company intends to broaden the hospitals it supplies while engaging with the retail segment via a distribution agreement with Baiyang Pharmaceutical.
A 10-year deal recently signed with this company appears to “plug the albumin revenue hole”, Jarden asserts, for at least three years.
The broker retains an Overweight rating, asserting it is hard to dismiss the stock while it is on a PE of 16x FY27 and there is no evidence of structural risks around supply demand in immunoglobulin and last litre economics. Target is reduced to $283.00 from $287.14.
This report was published on November 22, 2025.
Target price is $283.00 Current Price is $182.14 Difference: $100.86
If CSL meets the Jarden target it will return approximately 55% (excluding dividends, fees and charges).
Current consensus price target is $244.39, suggesting upside of 34.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 451.73 cents and EPS of 1016.51 cents.
At the last closing share price the estimated dividend yield is 2.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1094.1, implying annual growth of N/A.
Current consensus DPS estimate is 500.4, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 16.6.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 535.19 cents and EPS of 1119.75 cents.
At the last closing share price the estimated dividend yield is 2.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1186.4, implying annual growth of 8.4%.
Current consensus DPS estimate is 537.3, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 15.4.
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
ELD ELDERS LIMITED
Agriculture – Overnight Price: $7.30
Canaccord Genuity rates ((ELD)) as Buy (1) –
The FY25 result from Elders was in line with guidance. Canaccord Genuity notes seasonal conditions present the variability to earnings, as usual.
The broker remains attracted to the initial contribution from Delta and improvement in crop protection margins.
Canaccord Genuity continues to assume average seasonal conditions although notes summer rainfall forecasts have moderated over recent weeks.
Upside risk may come from a working capital release and/or Sys Mod, which is not yet reflected in forecasts. With an undemanding valuation the broker retains a Buy rating and reduces the target to $7.93 from $8.15.
This report was published on November 17, 2025.
Target price is $7.93 Current Price is $7.30 Difference: $0.63
If ELD meets the Canaccord Genuity target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $8.70, suggesting upside of 19.2%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 36.00 cents and EPS of 51.00 cents.
At the last closing share price the estimated dividend yield is 4.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 59.8, implying annual growth of 119.7%.
Current consensus DPS estimate is 38.0, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 12.2.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 36.00 cents and EPS of 53.00 cents.
At the last closing share price the estimated dividend yield is 4.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.77.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 65.7, implying annual growth of 9.9%.
Current consensus DPS estimate is 40.3, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 11.1.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ERD EROAD LIMITED
Transportation & Logistics – Overnight Price: $1.32
Canaccord Genuity rates ((ERD)) as Buy (1) –
Canaccord Genuity highlights Eroad’s first half result was broadly in line with expectations. Operating expenditure was “well-controlled”.
The company has reiterated FY26 revenue guidance and ARR guidance of NZ$175-183m. Significantly, the medium-term growth target of 11-13% for FY27-29 has been maintained.
Eroad has described the move by the NZ government to transition the country’s 3.5m light vehicle fleet to eRUC (electronic road user charges) by 2027 with Australia “signalling similar intent” as “the most significant infrastructure transition of the coming decade.
The company has ramped up product development as a result. The broker retains a Buy rating and an unchanged target of NZ$2.80.
This report was published on November 21, 2025.
Current Price is $1.32. Target price not assessed.
The company’s fiscal year ends in March.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.54 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 85.71.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.26 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.01.
This company reports in NZD. 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
Jarden rates ((ERD)) as Underweight (4) –
Jarden found few surprises in the first half result from Eroad, given recent market updates. The main positive was the free cash flow generation, although with the company reiterating FY26 revenue and free cash flow guidance it appears to be largely due to timing.
Eroad recently announced a rationalisation of the growth strategy in North America to focus on near-term opportunities in Australasia.
Opportunities in North America that were referenced earlier this year have been “deferred into later years”, and the absence of historical pipeline conversion weighs on Jarden’s confidence in a reacceleration in this market.
The earnings profile of the core business is downgraded and the target is lowered to NZ$1.55 from NZ$1.85. Underweight retained.
This report was published on November 21, 2025.
Current Price is $1.32. Target price not assessed.
The company’s fiscal year ends in March.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of minus 0.82 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 161.96.
Forecast for FY27:
Jarden forecasts a full year FY27 EPS of 2.81 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 47.01.
This company reports in NZD. 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
Moelis rates ((ERD)) as Buy (1) –
Post the announcement of the loss of a big North American customer, Eroad’s share price fell and is now well below its recent high of $2.63, Moelis notes.
The current market price is not viewed as ascribing little or any value to the company’s North American operations.
The analyst points to the NZ government’s plans to replace fuel excise taxes with distance based charges and Eroad is the country’s leading provider of electronic road user charges (eRUC) to heavy vehicle fleets.
Commentary highlights NZ remains the main earnings driver for the company where it has retained its market share.
Buy rating retained with a $2.32 target price.
This report was published on November 21, 2025.
Target price is $2.32 Current Price is $1.32 Difference: $1
If ERD meets the Moelis target it will return approximately 76% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.63 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 50.25.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.73 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 182.07.
This company reports in NZD. 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
GG8 GORILLA GOLD MINES LIMITED
Gold & Silver – Overnight Price: $0.39
Canaccord Genuity rates ((GG8)) as Initiation of coverage with Speculative Buy (1) –
Canaccord Genuity has initiated coverage of Gorilla Gold Mines with a Speculative Buy rating and $1 target price as an emerging Western Australian gold explorer.
Gorilla has three high grade, past producing projects near mining and processing hubs in the eastern goldfields.
Post notable acquisitions, Comet Vale in 2018, Mulwarrie in 2024 and Vivien from Ramelius Resources ((RMS)), the explorer is conducting 150,000m of drilling to extend mineralisation, as well as aiming for new discoveries.
The analyst reckons the potential for Mulwarrie, Comet Vale and Vivien to have a combined resource of around 3.6moz over time. The projects are not yet at study stage.
This report was published on November 24, 2025.
Target price is $1.00 Current Price is $0.39 Difference: $0.61
If GG8 meets the Canaccord Genuity target it will return approximately 156% (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
GMD GENESIS MINERALS LIMITED
Gold & Silver – Overnight Price: $6.53
Canaccord Genuity rates ((GMD)) as Buy (1) –
Genesis Minerals signed binding Tower Hill rail-shortening agreements with Public Transport Authority, Arc Infrastructure and Aurizon Holdings ((AZJ)).
This will free space for Leonora mill expansion and enable full Tower Hill open-pit development, Canaccord Genuity highlights.
The broker notes Tower Hill also has underground upside, and a transition study is underway, though not yet in its models.
Timeline for Tower Hills remains intact, with development in FY27 and the first ore expected in FY28. Updated multi-year outlook is due 2H26.
Buy. Target price $7.90 (was lifted to $7.90 from $6.15 on October 21).
This report was published on November 21, 2025.
Target price is $7.90 Current Price is $6.53 Difference: $1.37
If GMD meets the Canaccord Genuity target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $6.98, suggesting upside of 6.9%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 46.6, implying annual growth of 129.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 14.0.
Forecast for FY27:
Current consensus EPS estimate is 55.6, implying annual growth of 19.3%.
Current consensus DPS estimate is 0.4, implying a prospective dividend yield of 0.1%.
Current consensus EPS estimate suggests the PER is 11.7.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GTK GENTRACK GROUP LIMITED
Software & Services – Overnight Price: $8.49
Moelis rates ((GTK)) as Buy (1) –
Gentrack Group achieved inline FY25 results according to Moelis, with management describing it as a transition year.
The results met the company’s baseline guidance, with Veovo (airports) the positive surprise and standout.
Investors continue to be focused on the conversion of the group’s pipeline, with wins anticipated in 2H26. Management’s outlook for FY26 is more modest, as customer wins are deferred until later in 2026. On a positive note, Genesis (customer) is now live with g2.0, the latest platform.
Management’s mid-term guidance is for more than 15% CAGR for revenue and an earnings (EBITDA) margin of 15-20%. The analyst lowers their EPS forecasts by -17.9% for FY26 and -3.3% for FY27.
The stock is Buy rated with a $9.47 target price.
This report was published on November 24, 2025.
Target price is $9.47 Current Price is $8.49 Difference: $0.98
If GTK meets the Moelis target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $10.00, suggesting upside of 17.8%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 19.93 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 42.61.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.6, 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 51.1.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 28.26 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.04.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.6, implying annual growth of 42.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 36.0.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IPH IPH LIMITED
Legal – Overnight Price: $3.47
Petra Capital rates ((IPH)) as Buy (1) –
IPH Ltd offered a trading update at its AGM for the four months to October 31 with revenue up 7% year-to-date and underlying earnings (EBITDA) up 13%.
In constant currency terms, revenue slipped -3% but earnings (EBITDA) rose 3.5%, Petra Capital highlights, pointing to the impact of lower costs.
A&NZ remained weak with filings, revenue fell -7% and earnings (EBITDA) by -10% which broadly aligns with consensus.
Canada served up a “solid” result as well as a recovery in workflow post a disruption from CIPO systems in FY25. Asia managed positive organic growth which met the analyst’s expectations.
Target price remains at $6 with a Buy rating.
This report was published on November 21, 2025.
Target price is $6.00 Current Price is $3.47 Difference: $2.53
If IPH meets the Petra Capital target it will return approximately 73% (excluding dividends, fees and charges).
Current consensus price target is $5.97, suggesting upside of 72.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 36.40 cents and EPS of 48.60 cents.
At the last closing share price the estimated dividend yield is 10.49%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 48.3, implying annual growth of 86.8%.
Current consensus DPS estimate is 37.8, implying a prospective dividend yield of 10.9%.
Current consensus EPS estimate suggests the PER is 7.2.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 37.00 cents and EPS of 51.10 cents.
At the last closing share price the estimated dividend yield is 10.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 50.2, implying annual growth of 3.9%.
Current consensus DPS estimate is 38.3, implying a prospective dividend yield of 11.0%.
Current consensus EPS estimate suggests the PER is 6.9.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LOV LOVISA HOLDINGS LIMITED
Retailing – Overnight Price: $30.93
Jarden rates ((LOV)) as Overweight (2) –
Jarden transfers coverage of Lovisa Holdings to Ben Gilbert.
The retailer’s AGM update missed the broker’s expectations due to softer like for like sales and a slower store rollout which has resulted in the analyst lowering earnings forecasts by -1% to -3% for FY26-FY28.
New store openings at 44 were below consensus by -2% for 1H26 with only six weeks until the end of the trading 1H period.
Jarden expects promotions to rise into cyber weeks and Christmas and cuts forecast margins by -10bps for FY26-FY27.
Overweight retained with a reduced target price of $40.90 from $42.42.
This report was published on November 21, 2025.
Target price is $40.90 Current Price is $30.93 Difference: $9.97
If LOV meets the Jarden target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $37.38, suggesting upside of 20.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 95.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.29.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 95.5, implying annual growth of 22.2%.
Current consensus DPS estimate is 84.0, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 32.4.
Forecast for FY27:
Jarden forecasts a full year FY27 EPS of 119.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 115.3, implying annual growth of 20.7%.
Current consensus DPS estimate is 98.5, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 26.8.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MVF MONASH IVF GROUP LIMITED
Healthcare services – Overnight Price: $0.85
Canaccord Genuity rates ((MVF)) as Hold (3) –
Monash IVF has guided to first half net profit between $10-10.5m and reiterated full year guidance of $20-23m albeit looking at closer to the lower end of the range. Dividends are expected to resume in FY26.
Canaccord Genuity notes, through-cycle resilience in demand has been the basis of the IVF investment thesis for over a decade and suddenly this looks “more tenuous”. Demand was “unusually weak” through FY25, most notably in Victoria.
The modelling exercise is challenging given the prospect of further market share losses, the broker adds. Target is reduced to $0.65 from $0.72. Hold rating is unchanged.
This report was published on November 21, 2025.
Target price is $0.65 Current Price is $0.85 Difference: minus $0.205 (current price is over target).
If MVF meets the Canaccord Genuity target it will return approximately minus 24% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.89, suggesting upside of 4.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 2.00 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 2.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.0, implying annual growth of -22.1%.
Current consensus DPS estimate is 3.0, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 17.1.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 4.00 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 4.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.6, implying annual growth of 12.0%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 15.3.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
OCA OCEANIA HEALTHCARE LIMITED
Aged Care & Seniors – Overnight Price: $0.71
Jarden rates ((OCA)) as Neutral (3) –
Jarden is encouraged by early signs at Oceania Healthcare of an earnings recovery, following a material deterioration in FY24 and FY25. Sales performance and cash conversion “looks encouraging”.
On development, the broker envisages a shorter path to inventory sell down over FY26 and FY27. Forecasts highlight a steady path to improved profitability that should support a return to dividends in the next few years, depending on the approach the company takes to growth.
A Neutral rating is maintained but Jarden emphasises there is upside if the company can provide confidence on development. Target rises to NZ$0.84 from NZ$0.72.
This report was published on November 21, 2025.
Current Price is $0.71. Target price not assessed.
The company’s fiscal year ends in March.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.63 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 111.99.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 2.17 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 32.66.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
QBE QBE INSURANCE GROUP LIMITED
Insurance – Overnight Price: $19.63
Jarden rates ((QBE)) as Neutral (3) –
Jarden expects the upcoming update from QBE Insurance should signal a strong 2025 but there is also potential for a negative rate, implying a margin headwinds against stable inflation.
Hence the broker expects the business will struggle to maintain its underlying and reported COR target and the pricing trajectory will increasingly be disaggregated from inflation and driven more by an oversupply of risk capital.
While consensus COR assumes 92.5% until FY30, the mid point of the cycle guidance 90-95% does not appropriately capture cyclically, in the broker’s opinion.
Lower quality sources could provide some offset to earnings pressure and Jarden retains a Neutral rating with the target lowered to $20.20 from $20.60.
This report was published on November 21, 2025.
Target price is $20.20 Current Price is $19.63 Difference: $0.57
If QBE meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $24.22, suggesting upside of 23.4%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 117.00 cents and EPS of 228.43 cents.
At the last closing share price the estimated dividend yield is 5.96%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 196.7, implying annual growth of N/A.
Current consensus DPS estimate is 95.3, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 10.0.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 99.00 cents and EPS of 192.46 cents.
At the last closing share price the estimated dividend yield is 5.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 197.2, implying annual growth of 0.3%.
Current consensus DPS estimate is 96.0, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 10.0.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RIC RIDLEY CORPORATION LIMITED
Agriculture – Overnight Price: $2.56
Canaccord Genuity rates ((RIC)) as Buy (1) –
Canaccord Genuity suspects the prospect of some modest downgrades to consensus estimates after the Ridley Corp AGM could mask positive trends. The broker is attracted to the visible and consistent growth in demand and the company’s track record of reinvestment.
Strong growth in volumes has been confirmed across most business units, led by acceleration in the core poultry category.
Within the ingredient recovery segment, selling prices continue to drag on margins but this was expected and the impact is anticipated to moderate from the second half.
Earnings estimates are lowered -2% for FY26 while outer year forecasts are unchanged. Target edges down to $3.47 from $3.48 with Buy rating unchanged.
This report was published on November 19, 2025.
Target price is $3.47 Current Price is $2.56 Difference: $0.91
If RIC meets the Canaccord Genuity target it will return approximately 36% (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 10.30 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 4.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.29.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 13.50 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 5.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.47.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SGQ ST. GEORGE MINING LIMITED
Overnight Price: $0.10
Petra Capital rates ((SGQ)) as Buy (1) –
Petra Capital highlights the latest assays from an infill and expansion drill program at the Araxa project, Brazil, which reinforce the probability of a significant update to the resource by St George Mining.
The broker estimates an update in the March quarter could mean the resource doubles to 80mt, making Araxa around the same size and the same TREO grade as the Lynas ((LYC)) Mount Weld resource.
The broker forecasts St George generating around $90m in EBITDA in FY28, rising to $650m or more in FY31. Buy rating and $0.44 target unchanged.
This report was published on November 25, 2025.
Target price is $0.44 Current Price is $0.10 Difference: $0.34
If SGQ meets the Petra Capital target it will return approximately 340% (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 minus 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 33.33.
Forecast for FY27:
Petra Capital forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 100.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SKS SKS TECHNOLOGIES GROUP LIMITED
Technology – Overnight Price: $4.04
Canaccord Genuity rates ((SKS)) as Buy (1) –
SKS Technologies will acquire Delta Elcom, a specialist in data centre infrastructure and electrical solutions based in Sydney.
The company will pay -$13.75-15m, comprising cash and new shares as the completion payment with an earnout of up to -$1.25m linked to 2026 performance.
Canaccord Genuity is confident the company can win electrical packages on the Stack campus at Erskine Park and being new to the NSW market will focus on smaller data centre contracts to gradually prove up its capabilities and build a base.
The pipeline of work in hand is $391m and the broker estimates roughly half of this will convert in FY27. Buy rating. Target rises to $4.09 frrom $3.14.
This report was published on November 21, 2025.
Target price is $4.09 Current Price is $4.04 Difference: $0.05
If SKS meets the Canaccord Genuity target it will return approximately 1% (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 7.40 cents and EPS of 18.80 cents.
At the last closing share price the estimated dividend yield is 1.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.49.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 8.40 cents and EPS of 21.80 cents.
At the last closing share price the estimated dividend yield is 2.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.53.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SYL SYMAL GROUP LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $2.50
Jarden rates ((SYL)) as Buy (1) –
Symal Group has achieved its one year anniversary of listing on the ASX with Jarden viewing the company as essentially meeting expectations for investors and beating its FY25 prospectus forecasts of 10% net profit after tax growth.
The company has also managed to achieve its M&A strategy with cash on the balance sheet for $58m in M&A for the Sycle business and utilities. Owners have also acquired around 89k shares or a lift in the position held by 0.1%.
Buy rating unchanged. Target lifts to $2.70 from $2.50.
This report was published on November 21, 2025.
Target price is $2.70 Current Price is $2.50 Difference: $0.2
If SYL meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 12.20 cents and EPS of 24.60 cents.
At the last closing share price the estimated dividend yield is 4.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.16.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 14.80 cents and EPS of 29.40 cents.
At the last closing share price the estimated dividend yield is 5.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.50.
Market Sentiment: 1.0
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.
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