Australian Broker Call *Extra* Edition – Dec 10, 2025

Array
(
    [0] => Array
        (
            [0] => ((ABB))
            [1] => ((ALC))
            [2] => ((ARX))
            [3] => ((CGS))
            [4] => ((DPM))
            [5] => ((EDV))
            [6] => ((ADH))
            [7] => ((ABY))
            [8] => ((CCX))
            [9] => ((BBN))
            [10] => ((MTS))
            [11] => ((TPW))
            [12] => ((JBH))
            [13] => ((DMP))
            [14] => ((KGN))
            [15] => ((FLT))
            [16] => ((ADH))
            [17] => ((ABY))
            [18] => ((CCX))
            [19] => ((BBN))
            [20] => ((MTS))
            [21] => ((TPW))
            [22] => ((JBH))
            [23] => ((CTD))
            [24] => ((IDX))
            [25] => ((IMM))
            [26] => ((M7T))
            [27] => ((MSB))
            [28] => ((MYX))
            [29] => ((NAN))
            [30] => ((NEU))
            [31] => ((ORE))
            [32] => ((PME))
            [33] => ((PMV))
            [34] => ((PNV))
            [35] => ((PPE))
            [36] => ((PYC))
            [37] => ((SIG))
            [38] => ((ADH))
            [39] => ((ABY))
            [40] => ((CCX))
            [41] => ((BBN))
            [42] => ((MTS))
            [43] => ((TPW))
            [44] => ((JBH))
            [45] => ((SUL))
            [46] => ((SLC))
            [47] => ((AGL))
            [48] => ((ORG))
            [49] => ((TLS))
            [50] => ((TLX))
            [51] => ((TPG))
            [52] => ((VBC))
        )

    [1] => Array
        (
            [0] => ABB
            [1] => ALC
            [2] => ARX
            [3] => CGS
            [4] => DPM
            [5] => EDV
            [6] => ADH
            [7] => ABY
            [8] => CCX
            [9] => BBN
            [10] => MTS
            [11] => TPW
            [12] => JBH
            [13] => DMP
            [14] => KGN
            [15] => FLT
            [16] => ADH
            [17] => ABY
            [18] => CCX
            [19] => BBN
            [20] => MTS
            [21] => TPW
            [22] => JBH
            [23] => CTD
            [24] => IDX
            [25] => IMM
            [26] => M7T
            [27] => MSB
            [28] => MYX
            [29] => NAN
            [30] => NEU
            [31] => ORE
            [32] => PME
            [33] => PMV
            [34] => PNV
            [35] => PPE
            [36] => PYC
            [37] => SIG
            [38] => ADH
            [39] => ABY
            [40] => CCX
            [41] => BBN
            [42] => MTS
            [43] => TPW
            [44] => JBH
            [45] => SUL
            [46] => SLC
            [47] => AGL
            [48] => ORG
            [49] => TLS
            [50] => TLX
            [51] => TPG
            [52] => VBC
        )

)

This story features AUSSIE BROADBAND LIMITED, and other companies.
For more info SHARE ANALYSIS: ABB
The company is included in ASX200, ASX300 and ALL-ORDS

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)

ABB   ALC   ARX   CGS   DPM   EDV   FLT   IDX   IMM   M7T   MAP   MSB   MYX   NAN   NEU   OPT   ORE   PME   PMV   PNV   PPE   PYC   RHC   SIG   SLC   TLS   TLX   TPG   TRJ   VBC  

ABB    AUSSIE BROADBAND LIMITED

Telecommunication – Overnight Price: $5.06

Jarden rates ((ABB)) as Overweight (2) –

Jarden notes post NBN’s 1Q26 wholesale market report that Aussie Broadband grew share of NBN’s SIOs (services in operation) by circa 20bps over the period, adding around 16k subscribers.

The analyst points to a robust underlying customer base with around 63k on speed tiers 100-plus Mbps against 59% at 4Q25 and this is anticipated to continue to expand as the company remains a leader through the NBN Fibre Connect upgrade program.

Jarden retains an Overweight rating and a $5.80 target price.

This report was published on December 4, 2025.

Target price is $5.80 Current Price is $5.06 Difference: $0.74
If ABB meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $6.01, suggesting upside of 19.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.00 cents and EPS of 24.50 cents.
At the last closing share price the estimated dividend yield is 1.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.65.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.6, implying annual growth of 75.2%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 25.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 11.00 cents and EPS of 33.90 cents.
At the last closing share price the estimated dividend yield is 2.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.9, implying annual growth of 32.1%.
Current consensus DPS estimate is 8.1, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 19.5.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ALC    ALCIDION GROUP LIMITED

Healthcare services – Overnight Price: $0.10

Canaccord Genuity rates ((ALC)) as Buy (1) –

Canaccord Genuity has transferred coverage of Alcidion Group to Aksel Salins due to an analyst departure and re-allocation of resources.

No change to Buy rating and 13c target.

This report was published on December 8, 2025.

Target price is $0.13 Current Price is $0.10 Difference: $0.025
If ALC meets the Canaccord Genuity target it will return approximately 24% (excluding dividends, fees and charges).

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ARX    AROA BIOSURGERY LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.68

Canaccord Genuity rates ((ARX)) as Buy (1) –

Canaccord Genuity has transferred coverage of Aroa Biosurgery to Shane Storey due to an analyst departure and re-allocation of resources.

No change to Buy rating and 90c target.

This report was published on December 8, 2025.

Target price is $0.90 Current Price is $0.68 Difference: $0.225
If ARX meets the Canaccord Genuity target it will return approximately 33% (excluding dividends, fees and charges).

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

CGS    COGSTATE LIMITED

Medical Equipment & Devices – Overnight Price: $2.51

Canaccord Genuity rates ((CGS)) as Buy (1) –

Canaccord Genuity has transferred coverage of Cogstate to Madeleine Williams due to an analyst departure and re-allocation of resources.

No change to Buy rating and $3.30 target.

This report was published on December 8, 2025.

Target price is $3.30 Current Price is $2.51 Difference: $0.79
If CGS 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 1.87 cents and EPS of 9.02 cents.
At the last closing share price the estimated dividend yield is 0.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.81.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 3.58 cents and EPS of 11.83 cents.
At the last closing share price the estimated dividend yield is 1.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.23.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

DPM    DPM METALS INC

Gold & Silver – Overnight Price: $42.29

Canaccord Genuity rates ((DPM)) as Buy (1) –

DPM Metals’ investor day covered updates at Rakita, the Coka Rakita feasibility study, Chelopech exploration, and the Vares ramp-up, mostly reiterating prior releases, Canaccord Genuity concludes.

Management commentary supported the broker’s growth outlook, with gold-equivalent production forecast to rise from 301koz in 2025 to 569koz by 2030, mainly driven by Vares and Coka Rakita.

Commentary suggests there’s further upside from Rakita development, optimisation and exploration, and the company noted Rakita could become a stand-alone mine by 2032.33.

This could potentially push group output above 700koz/year, on the broker’s assessment. Buy rating. Target price CA$45.50.

This report was published on December 4, 2025.

Current Price is $42.29. Target price not assessed.
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 EPS of 371.87 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.37.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 420.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.07.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EDV    ENDEAVOUR GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $3.66

Jarden rates ((EDV)) as Neutral (3) –

Jarden’s online traffic tracker rose 11% y/y in Nov across the 52 brands that the broker covers, with an acceleration in the three month trend, with trends seemingly having improved post a soft Nov as consumers waited for deals.

By category, other rose 26% y/y, category killers up 21% y/y, hardware up 20% were stronger, with meal kits -17%, footwear at 0%.

By brand, the broker notes, Mocka ((ADH)) up 104%, Adore ((ABY)) up 41%, Citi Chic ((CCX)) up 38%, Baby Bunting ((BBN)) up 37%, David Jones up 23%, Total Tools ((MTS)) up 32%, Adairs up 26%, Temple & Webster ((TPW)) up 26%, Aldi up 26%.

Other names, Harvey Norman rose 19% and The Good Guys ((JBH)) up 11%.

The broker remains optimistic on the consumer, with consumer confidence at 3-year highs.

Jarden sees Endeavour Group, Dominos Pizza Enterprises ((DMP)) and Kogan ((KGN)) as the most challenged.

This report was published on December 8, 2025.

Target price is $3.60 Current Price is $3.66 Difference: minus $0.06 (current price is over target).
If EDV meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.92, suggesting upside of 8.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 19.00 cents and EPS of 24.20 cents.
At the last closing share price the estimated dividend yield is 5.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.12.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.5, implying annual growth of 3.0%.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 14.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 21.00 cents and EPS of 27.10 cents.
At the last closing share price the estimated dividend yield is 5.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.9, implying annual growth of 5.7%.
Current consensus DPS estimate is 19.5, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 13.9.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

FLT    FLIGHT CENTRE TRAVEL GROUP LIMITED

Travel, Leisure & Tourism – Overnight Price: $13.63

Jarden rates ((FLT)) as Buy (1) –

Jarden’s online traffic tracker rose 11% y/y in Nov across the 52 brands that the broker covers, with an acceleration in the three month trend, with trends seemingly having improved post a soft Nov as consumers waited for deals.

By category, other rose 26% y/y, category killers up 21% y/y, hardware up 20% were stronger, with meal kits -17%, footwear at 0%.

By brand, the broker notes, Mocka ((ADH)) up 104%, Adore ((ABY)) up 41%, Citi Chic ((CCX)) up 38%, Baby Bunting ((BBN)) up 37%, David Jones up 23%, Total Tools ((MTS)) up 32%, Adairs up 26%, Temple & Webster ((TPW)) up 26%, Aldi up 26%.

Other names, Harvey Norman rose 19% and The Good Guys ((JBH)) up 11%.

The broker remains optimistic on the consumer, with consumer confidence at 3-year highs.

Jarden sees Flight Centre Travel as the laggard and has potential to outperform notably, boosted by challenges at Corporate Travel Management ((CTD)).

This report was published on December 8, 2025.

Target price is $18.00 Current Price is $13.63 Difference: $4.37
If FLT meets the Jarden target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $15.17, suggesting upside of 9.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 57.00 cents and EPS of 104.80 cents.
At the last closing share price the estimated dividend yield is 4.18%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.01.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 100.8, implying annual growth of 103.1%.
Current consensus DPS estimate is 44.2, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 13.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 75.00 cents and EPS of 131.90 cents.
At the last closing share price the estimated dividend yield is 5.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 118.1, implying annual growth of 17.2%.
Current consensus DPS estimate is 50.5, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 11.7.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IDX    INTEGRAL DIAGNOSTICS LIMITED

Healthcare services – Overnight Price: $2.50

Canaccord Genuity rates ((IDX)) as Buy (1) –

Canaccord Genuity has transferred coverage of Integral Diagnostics to Shane Storey due to an analyst departure and re-allocation of resources.

No change to Buy rating and $3.20 target.

This report was published on December 8, 2025.

Target price is $3.20 Current Price is $2.50 Difference: $0.7
If IDX meets the Canaccord Genuity target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $3.57, suggesting upside of 42.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 7.80 cents and EPS of 10.80 cents.
At the last closing share price the estimated dividend yield is 3.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.0, implying annual growth of 755.3%.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 19.2.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 8.50 cents and EPS of 12.20 cents.
At the last closing share price the estimated dividend yield is 3.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.9, implying annual growth of 22.3%.
Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 15.7.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IMM    IMMUTEP LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.32

Canaccord Genuity rates ((IMM)) as Buy (1) –

Canaccord Genuity has transferred coverage of Immutep to Madeleine Williams due to an analyst departure and re-allocation of resources.

No change to Buy rating and 98c  target.

This report was published on December 8, 2025.

Target price is $0.98 Current Price is $0.32 Difference: $0.66
If IMM meets the Canaccord Genuity target it will return approximately 206% (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 0.00 cents and EPS of minus 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.00.

Forecast for FY27:

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

M7T    MACH7 TECHNOLOGIES LIMITED

Healthcare services – Overnight Price: $0.59

Canaccord Genuity rates ((M7T)) as Buy (1) –

Canaccord Genuity has transferred coverage of Mach7 Technologies to Madeleine Williams due to an analyst departure and re-allocation of resources.

No change to Buy rating and 80c target.

This report was published on December 8, 2025.

Target price is $0.80 Current Price is $0.59 Difference: $0.21
If M7T 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 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 59.00.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 59.00.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MAP    MICROBA LIFE SCIENCES LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.07

Canaccord Genuity – Cessation of coverage

This report was published on December 8, 2025.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MSB    MESOBLAST LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $2.82

Canaccord Genuity rates ((MSB)) as Buy (1) –

Canaccord Genuity has transferred coverage of Mesoblast to Madeleine Williams due to an analyst departure and re-allocation of resources.

No change to Buy rating and $3.11 target.

This report was published on December 8, 2025.

Target price is $3.11 Current Price is $2.82 Difference: $0.29
If MSB meets the Canaccord Genuity target it will return approximately 10% (excluding dividends, fees and charges).

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

MYX    MAYNE PHARMA GROUP LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $3.20

Canaccord Genuity rates ((MYX)) as Buy (1) –

Canaccord Genuity has transferred coverage of Mayne Pharma to Madeleine Williams due to an analyst departure and re-allocation of resources.

No change to Buy rating and $6.10 target.

This report was published on December 8, 2025.

Target price is $6.10 Current Price is $3.20 Difference: $2.9
If MYX meets the Canaccord Genuity target it will return approximately 91% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NAN    NANOSONICS LIMITED

Medical Equipment & Devices – Overnight Price: $4.22

Canaccord Genuity rates ((NAN)) as Buy (1) –

Canaccord Genuity has transferred coverage of Nanosonics to Shane Storey due to an analyst departure and re-allocation of resources.

No change to Buy rating and $5.43 target.

This report was published on December 8, 2025.

Target price is $5.43 Current Price is $4.22 Difference: $1.21
If NAN meets the Canaccord Genuity target it will return approximately 29% (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 0.00 cents and EPS of 6.84 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 61.70.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 11.36 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.15.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NEU    NEUREN PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $20.08

Canaccord Genuity rates ((NEU)) as Buy (1) –

Canaccord Genuity has transferred coverage of Neuren Pharmaceuticals to Madeleine Williams due to an analyst departure and re-allocation of resources.

No change to Buy rating and $23 target.

This report was published on December 8, 2025.

Target price is $23.00 Current Price is $20.08 Difference: $2.92
If NEU meets the Canaccord Genuity target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $25.70, suggesting upside of 29.0%(ex-dividends)
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 17.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 118.12.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.3, implying annual growth of -87.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 139.4.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 61.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 32.2, implying annual growth of 125.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 61.9.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

OPT    OPTHEA LIMITED

Pharmaceuticals & Biotech/Lifesciences –

Canaccord Genuity – Cessation of coverage

This report was published on December 8, 2025.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ORE    OREZONE GOLD CORPORATION REGISTERED

Gold & Silver – Overnight Price: $1.74

Canaccord Genuity rates ((ORE)) as Buy (1) –

Orezone Gold’s shallow grade, control drilling at Bombore’s high-grade P17 Zone confirmed the reserve/resource model and strong continuity, supporting its role as a key hard-rock feed from 2026.

Canaccord Genuity notes the Stage 1 hard-rock plant commissioning is well progressed , with first ore and first gold expected shortly, keeping 2026 uplift on track.

These updates back the broker’s view of 175koz in 2026, up 46% vs 2025, rising to 233koz by 2027.

Buy. Target price $3.25.

This report was published on December 4, 2025.

Target price is $3.25 Current Price is $1.74 Difference: $1.51
If ORE meets the Canaccord Genuity target it will return approximately 87% (excluding dividends, fees and charges).

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PME    PRO MEDICUS LIMITED

Medical Equipment & Devices – Overnight Price: $247.55

Canaccord Genuity rates ((PME)) as Buy (1) –

Canaccord Genuity has transferred coverage of Pro Medicus to Madeleine Williams due to an analyst departure and re-allocation of resources.

No change to Buy rating and $350 target.

This report was published on December 8, 2025.

Target price is $350.00 Current Price is $247.55 Difference: $102.45
If PME meets the Canaccord Genuity target it will return approximately 41% (excluding dividends, fees and charges).
Current consensus price target is $322.77, suggesting upside of 33.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 75.00 cents and EPS of 150.30 cents.
At the last closing share price the estimated dividend yield is 0.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 164.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 154.7, implying annual growth of 40.3%.
Current consensus DPS estimate is 77.6, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 156.4.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 101.00 cents and EPS of 203.00 cents.
At the last closing share price the estimated dividend yield is 0.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 121.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 204.2, implying annual growth of 32.0%.
Current consensus DPS estimate is 108.6, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 118.5.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PMV    PREMIER INVESTMENTS LIMITED

Apparel & Footwear – Overnight Price: $15.42

Jarden rates ((PMV)) as Neutral (3) –

At Premier Investments’ AGM the company downgraded 1H26 guidance with EBIT expected to be down -7% y/y around $120m which is a miss to consensus of circa -11%, Jarden notes.

Smiggle delivered the main ‘miss’, with sales falling y/y led by the UK. Peter Alexander had record Black Friday sales.

Management stated consumer discretionary spending remains challenged and is impacting Smiggle more than Peter Alexander, which the analyst attributes to increased competition in the market.

Jarden lowers net profit after tax forecast for FY26 by -12% which also assumes the $100m share buyback as announced. The company is viewed as well run, but Smiggle’s problems need to be resolved.

Target price is cut to $16.90 from $21.30. No change to Neutral rating.

This report was published on December 5, 2025.

Target price is $16.90 Current Price is $15.42 Difference: $1.48
If PMV meets the Jarden target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $20.40, suggesting upside of 31.7%(ex-dividends)
The company’s fiscal year ends in July.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 90.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 102.1, implying annual growth of -1.5%.
Current consensus DPS estimate is 76.1, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 15.2.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 104.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 113.7, implying annual growth of 11.4%.
Current consensus DPS estimate is 84.6, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 13.6.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PNV    POLYNOVO LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.20

Canaccord Genuity rates ((PNV)) as Buy (1) –

Canaccord Genuity has transferred coverage of PolyNovo to Shane Storey due to an analyst departure and re-allocation of resources.

No change to Buy rating and $1.62 target.

This report was published on December 8, 2025.

Target price is $1.62 Current Price is $1.20 Difference: $0.425
If PNV meets the Canaccord Genuity target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $1.90, suggesting upside of 55.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 59.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.3, implying annual growth of 20.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 53.0.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 3.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.9, implying annual growth of 69.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 31.3.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PPE    PEOPLEIN LIMITED

Jobs & Skilled Labour Services – Overnight Price: $0.85

Canaccord Genuity rates ((PPE)) as Buy (1) –

PeopleIN is selling its 79.3% stake in Techforce (Taskforce Personnel) for $23.5m, which delivered over 100% ROI since 2022. It will lead to a decline in net leverage to 1.1x by June 2026 from 1.6x, Canaccord Genuity estimates.

The broker notes the sale is timed at a peak for Techforce (EV/EBITDA 4.5x), with PeopleIN earmarking the proceeds for near-term, accretive acquisitions in Engineering/Trades/Labour and possible Defence adjacency.

The company also reported 1Q26 EBITDA at $8.1m, down -12% y/y but up 4% QoQ, with a temporary PALM-visa admin delay hitting RWM (regional workforce management) hours despite solid demand.

FY26 EBITDA forecast trimmed by -14.5% and FY27 by -24%. Buy retained.

Target cut to $1.30 from $1.45.

This report was published on December 3, 2025.

Target price is $1.30 Current Price is $0.85 Difference: $0.45
If PPE meets the Canaccord Genuity target it will return approximately 53% (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 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 6.07.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 2.30 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 2.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.07.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PYC    PYC THERAPEUTICS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.49

Canaccord Genuity rates ((PYC)) as Buy (1) –

Canaccord Genuity has transferred coverage of PYC Therapeutics to Madeleine Williams due to an analyst departure and re-allocation of resources.

No change to Buy rating and $2.85 target.

This report was published on December 8, 2025.

Target price is $2.85 Current Price is $1.49 Difference: $1.36
If PYC meets the Canaccord Genuity target it will return approximately 91% (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 0.00 cents and EPS of minus 13.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.96.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 18.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.93.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

RHC    RAMSAY HEALTH CARE LIMITED

Healthcare services – Overnight Price: $35.61

Canaccord Genuity – Cessation of coverage

This report was published on December 8, 2025.

Forecast for FY26:

Current consensus EPS estimate is 136.2, implying annual growth of 4501.4%.
Current consensus DPS estimate is 86.0, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 26.1.

Forecast for FY27:

Current consensus EPS estimate is 163.8, implying annual growth of 20.3%.
Current consensus DPS estimate is 103.3, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 21.7.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SIG    SIGMA HEALTHCARE LIMITED

Health & Nutrition – Overnight Price: $2.85

Jarden rates ((SIG)) as Overweight (2) –

Jarden’s online traffic tracker rose 11% y/y in Nov across the 52 brands that the broker covers, with an acceleration in the three month trend, with trends seemingly having improved post a soft Nov as consumers waited for deals.

By category, other rose 26% y/y, category killers up 21% y/y, hardware up 20% were stronger, with meal kits -17%, footwear at 0%.

By brand, the broker notes, Mocka ((ADH)) up 104%, Adore ((ABY)) up 41%, Citi Chic ((CCX)) up 38%, Baby Bunting ((BBN)) up 37%, David Jones up 23%, Total Tools ((MTS)) up 32%, Adairs up 26%, Temple & Webster ((TPW)) up 26%, Aldi up 26%.

Other names, Harvey Norman rose 19% and The Good Guys ((JBH)) up 11%.

The broker remains optimistic on the consumer, with consumer confidence at 3-year highs.

Sigma Healthcare is the key defensive growth pick. Harvey Norman, Temple & Webster and Super Retail ((SUL)) in discretionary.

This report was published on December 8, 2025.

Target price is $3.60 Current Price is $2.85 Difference: $0.75
If SIG meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $3.18, suggesting upside of 11.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 3.70 cents and EPS of 6.10 cents.
At the last closing share price the estimated dividend yield is 1.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 46.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.4, implying annual growth of 26.5%.
Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 44.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 4.30 cents and EPS of 7.40 cents.
At the last closing share price the estimated dividend yield is 1.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 38.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.4, implying annual growth of 15.6%.
Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 38.5.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SLC    SUPERLOOP LIMITED

Telecommunication – Overnight Price: $2.63

Jarden rates ((SLC)) as Buy (1) –

Jarden notes post NBN’s 1Q26 wholesale market report that Superloop grew its share of NBN SIOs (services in operation) by around 30bps over the period, or some 27k connections, with a rise in the weighting towards the ‘consumer’ segment subscription growth.

AGL Energy’s ((AGL)) Southern Phone grew subs by circa 20k more than Origin Energy ((ORG)) with the latter expected to be weighted to the second half.

The analyst notes Superloop has around 56% of their customer base on speed tiers of 100-plus Mbps versus around 25% in the previous quarter.

Unchanged Buy rating and $3.40 target price.

This report was published on December 4, 2025.

Target price is $3.40 Current Price is $2.63 Difference: $0.77
If SLC meets the Jarden target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $3.50, suggesting upside of 33.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 7.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.9, implying annual growth of 2358.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 44.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 10.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.2, implying annual growth of 39.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 32.0.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TLS    TELSTRA GROUP LIMITED

Telecommunication – Overnight Price: $4.92

Jarden rates ((TLS)) as Neutral (3) –

Jarden notes post NBN’s 1Q26 wholesale market report that Telstra Group’s unbundling of the modem is a response to market share losses and the group remains exposed to legacy technologies as around 45% of its base remains on FTTN (Fibre to the Node) or FTTC (Fibre to the Curb) connections.

The analyst points to a notable positive mix in its base with around 27% of customers now on 100Mbps plus plans versus 20% the previous quarter.

The stock remains Neutral rated with a $4.80 target price.

This report was published on December 4, 2025.

Target price is $4.80 Current Price is $4.92 Difference: minus $0.12 (current price is over target).
If TLS meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.89, suggesting downside of -0.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 20.00 cents and EPS of 20.50 cents.
At the last closing share price the estimated dividend yield is 4.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.7, implying annual growth of 9.8%.
Current consensus DPS estimate is 20.2, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 23.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 21.50 cents and EPS of 22.10 cents.
At the last closing share price the estimated dividend yield is 4.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.3, implying annual growth of 7.7%.
Current consensus DPS estimate is 21.2, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 22.1.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TLX    TELIX PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $14.32

Canaccord Genuity rates ((TLX)) as Buy (1) –

Canaccord Genuity has transferred coverage of Telix Pharmaceuticals to Shane Storey due to an analyst departure and re-allocation of resources.

No change to Buy rating and $27.41 target.

This report was published on December 8, 2025.

Target price is $27.41 Current Price is $14.32 Difference: $13.09
If TLX meets the Canaccord Genuity target it will return approximately 91% (excluding dividends, fees and charges).
Current consensus price target is $27.20, suggesting upside of 88.0%(ex-dividends)
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 13.24 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 108.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -2.0, 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 N/A.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 24.76 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 57.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.4, 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 172.3.

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

TPG    TPG TELECOM LIMITED

Telecommunication – Overnight Price: $3.69

Jarden rates ((TPG)) as Overweight (2) –

Jarden notes post NBN’s 1Q26 wholesale market report that TPG Telecom’s SIOs (services in operation) declined around -20k over 1H26, an easing in the rate of subscriber loss against 4Q25. Around 100bps of market share was picked up via circa 86k connections, including 70k connections to Vocus.

Around 33% of their customers were on 100 plus Mbps speed tiers from circa 32% at the end of 4Q25, and the analyst believes this will speed up over 2026 post the NBN speed boost on September 14.

Overweight rated with a $3.70 target.

This report was published on December 4, 2025.

Target price is $3.70 Current Price is $3.69 Difference: $0.01
If TPG meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $5.39, suggesting upside of 47.3%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 EPS of 8.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.2, implying annual growth of N/A.
Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 22.6.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 12.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.6, implying annual growth of 21.0%.
Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 18.7.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TRJ    TRAJAN GROUP HOLDINGS LIMITED

Medical Equipment & Devices – Overnight Price: $0.64

Canaccord Genuity – Cessation of coverage

This report was published on December 8, 2025.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

VBC    VERBREC LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $0.17

Research as a Service (RaaS) rates ((VBC)) as No Rating (-1) –

Verbrec offers engineering, asset management, operations and maintenance, and training to the energy, mining, infrastructure and defence industries in A&NZ, PNG and the Pacific Islands.

Research as a Service (RaaS) likes the recent acquisition of Alliance Automation (Alliance), which raises the group’s automation, control, digital industry, machine learning and cyber security capabilities, while growing the client base.

An attractive multiple suggests the acquisition has been achieved at a very favourable valuation and is very accretive. Debt funding of $6.5m will be used to fund the consideration of $5.5m.

The analyst highlights Alliance’s speciality areas align with Verbrec’s existing ‘whole of asset lifecycle’ approach. Valuation is set at 44c per share.

Research as a Service (RaaS) research standard doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.

This report was published on December 8, 2025.

Target price is $0.44 Current Price is $0.17 Difference: $0.27
If VBC meets the Research as a Service (RaaS) target it will return approximately 159% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.50 cents and EPS of 1.90 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 8.95.

Forecast for FY27:

Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.80 cents and EPS of 2.50 cents.
At the last closing share price the estimated dividend yield is 4.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.80.

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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