Daily Market Reports | 10:50 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)
APA AUB BC8 BRI DUR EOL GGP GTK (2) IMD MEI MQG MTS SFR STK TCG
BRI BIG RIVER INDUSTRIES LIMITED
Building Products & Services - Overnight Price: $1.44
Moelis rates ((BRI)) as Upgrade to Buy from Hold (1) -
Moelis raises its target for Big River Industries to $1.68 from $1.60 and upgrades to Buy from Hold.
The company will acquire John’s Building Supplies for -$17m, adding scale in Western Australia and strengthening exposure to higher-margin product categories such as structural timber, engineered wood and cladding, explains the broker.
The analyst highlights John’s Building Supplies' solid financial profile, with three-year average revenue of $41.2m and earnings of $5.2m. The deal is expected to be earnings accretive.
A $10m entitlement offer at a -2% discount to the 10-day VWAP will partly fund the upfront consideration.
Management's latest trading update indicates to Moelis improving daily sales and resilient gross margins despite ongoing softness in several residential markets.
This report was published on December 2, 2025.
Target price is $1.68 Current Price is $1.44 Difference: $0.24
If BRI meets the Moelis target it will return approximately 17% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 3.70 cents and EPS of 6.20 cents.
At the last closing share price the estimated dividend yield is 2.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.23.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 7.10 cents and EPS of 11.80 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 12.20.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DUR DURATEC LIMITED
Industrial Sector Contractors & Engineers - Overnight Price: $1.78
Taylor Collison rates ((DUR)) as Outperform (2) -
Duratec did not offer any specific FY26 earnings guidance at its AGM, which Taylor Collison attributes to the probable lack of certainty around the Garden Island contract award.
The analyst remains confident of success but sees a likely chance of delay versus original expectations.
Beyond Garden Island, the company notes ongoing strength in defence with potential projects worth more than $15bn as well as possible works at Henderson in WA.
Mining continues to look robust, with energy supported by DXP Energy Solutions and the launch of Atec Facades assisting buildings and facades.
The broker tweaks earnings forecasts lower for the deferred timing on Garden Island. Outperform rating is maintained. No target price.
This report was published on November 21, 2025.
Current Price is $1.78. Target price not assessed.
Current consensus price target is $1.98, suggesting upside of 11.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 dividend of 5.60 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 3.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.3, implying annual growth of 24.2%.
Current consensus DPS estimate is 4.9, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 15.8.
Forecast for FY27:
Taylor Collison forecasts a full year FY27 dividend of 6.40 cents and EPS of 12.20 cents.
At the last closing share price the estimated dividend yield is 3.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.1, implying annual growth of 15.9%.
Current consensus DPS estimate is 5.7, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 13.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
EOL ENERGY ONE LIMITED
Energy Sector Contracting - Overnight Price: $17.50
Canaccord Genuity rates ((EOL)) as Initiation of coverage with Buy (1) -
Canaccord Genuity initiates coverage of Energy One with a Buy rating and a $22.94 target price.
The broker believes the company has a robust growth profile from strong growth in renewable energy generation, with growing demand for software that can optimise battery energy storage systems.
Recent European legislation is expected to underpin robust demand for its scheduling and algorithmic trading software, eZ-Ops, eZ-Algo, and enTrader.
The change in energy generation is leading to increased pricing volatility, which in turn leads to higher demand for data rich, sophisticated software, the analyst states.
Recurring revenue target growth of 15-20% p.a. has been established by management, and a cash earnings (EBITDA) margin of over 49% for FY25-FY28.
This report was published on December 1, 2025.
Target price is $22.94 Current Price is $17.50 Difference: $5.44
If EOL meets the Canaccord Genuity target it will return approximately 31% (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 13.70 cents and EPS of 36.00 cents.
At the last closing share price the estimated dividend yield is 0.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 48.61.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 19.20 cents and EPS of 50.00 cents.
At the last closing share price the estimated dividend yield is 1.10%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.00.
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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