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
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)
AX1 BEN GTK IAG IPX KGN LGI LYC MSB PYC QUB REH SUN VR1 WR1
SUN SUNCORP GROUP LIMITED
Insurance - Overnight Price: $18.57
Jarden rates ((SUN)) as Downgrade to Neutral from Overweight (3) -
A change of analyst at Jarden results in a reordering of domestic general insurance preference, upgrading Insurance Australia Group ((IAG)) to Overweight from Neutral and downgrading Suncorp to Neutral from Overweight.
The motivation given is a better risk reward in Insurance Australia Group as organic tailwinds fade.
The new analyst argues the premium rate momentum is contracting across commercial, personal lines and NZ, making Suncorp’s push for organic commercial growth harder despite its favourable consumer mix.
While Suncorp is seen as better positioned for organic consumer driven growth, the broker expects both majors to face market share pressure and trims gross written premium forecasts by about -1%.
Insurance Australia Group is viewed as having a catalyst rich outlook, including potential RACWA approval, FY27 cost out upside, commercial capital optimisation, and quota share reinsurance commission benefits.
EPS forecasts are downgraded around -1% for each insurer. Suncorp's target is lowered to $19.50 from $21.60.
This report was published on November 24, 2025.
Target price is $19.50 Current Price is $18.57 Difference: $0.93
If SUN meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $22.63, suggesting upside of 21.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 89.00 cents and EPS of 123.30 cents.
At the last closing share price the estimated dividend yield is 4.79%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 118.6, implying annual growth of -15.4%.
Current consensus DPS estimate is 87.7, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 15.7.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 86.00 cents and EPS of 120.50 cents.
At the last closing share price the estimated dividend yield is 4.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 125.3, implying annual growth of 5.6%.
Current consensus DPS estimate is 92.1, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 14.8.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
VR1 VECTION TECHNOLOGIES LIMITED
Overnight Price: $0.03
Petra Capital rates ((VR1)) as Initiation of coverage with Buy (1) -
Petra Capital initiates coverage of Vection Technologies with a Buy rating and 7c target. The company is founder-led and focused on spatial computing and AI solutions. Clients span a broad range of sectors and include many blue-chip organisations.
The company has an integrated proprietary XR and AI platform enabling a single point of access and easy cross-sell, the broker notes.
Petra Capital believes the stock is in the early stages of a re-rating, the business moving into positive EBITDA this year and free cash flow by FY27 as scale benefits emerge.
This report was published on November 25, 2025.
Target price is $0.07 Current Price is $0.03 Difference: $0.036
If VR1 meets the Petra Capital target it will return approximately 106% (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 11.33.
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 34.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WR1 WINSOME RESOURCES LIMITED
New Battery Elements - Overnight Price: $0.29
Canaccord Genuity rates ((WR1)) as Speculative Buy (1) -
Winsome Resources' 2025 Adina drill program returned strong assays, confirming robust near-surface mineralisation and improving understanding of the Footwall Zone, Canaccord Genuity observes.
29 holes (5,302m) delivered multiple shallow, thick, high-grade Main Zone hits plus solid Footwall intercepts at depth, with extensional drilling showing the deposit is still open north and east.
The results will feed into an upcoming MRE for the Feasibility Study. Current MRE is 78Mt at 1.15% lithium oxide. Speculative Buy with unchanged target of 75c.
This report was published on November 25, 2025.
Target price is $0.75 Current Price is $0.29 Difference: $0.455
If WR1 meets the Canaccord Genuity target it will return approximately 154% (excluding dividends, fees and charges).
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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