Weekly Reports | Dec 12 2025
A summary of the highlights from Broker Call Extra updates throughout the week past.
Broker Rating Changes (Post Thursday Last Week)
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FLIGHT CENTRE TRAVEL GROUP LIMITED ((FLT)) Upgrade to Buy from Hold by Canaccord Genuity.B/H/S: 0/0/0
Canaccord Genuity upgrades Flight Centre Travel to a Buy from Hold rating with a lift in target price to $15.20 from $12.95 post AGM comments and industry feedback which infers the company is trading above expectations for 1H26.
The analyst envisages Flight Centre may pick up some business from Corporate Travel Management ((CTD)) and emphasises FY26 results have a hefty 2H26 skew in order to meet forecasts and investors should remain alert to industry data to confirm expectations.
Looking out to FY27, the broker believes the trend will improve further with better operating efficiency and activity levels as well as Cruises, where Flight Centre has raised its exposure.
Canaccord Genuity makes no changes to earnings forecasts, noting consensus estimates for underlying profit before tax has declined to $321m from $334m compared to the analyst's forecast of $317m for FY26.
There is now believed to be a lower risk of earnings disappointment.
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COLLINS FOODS LIMITED ((CKF)) Downgrade to Neutral from Overweight by Jarden.B/H/S: 0/0/0
Jarden downgrades Collins Foods to Neutral from Overweight as the risk reward appears more balanced, with a higher target price of $11.40 from $10.10.
The quick service restaurant operator reported a 1H26 earnings beat, with FY26 earnings (EBITDA) guidance upgraded and Australian same store sales growth improving over the second half.
FY26 net profit after tax growth guidance was lifted to high mid teens from low to mid teens, and the broker raises earnings forecasts by 0-2% for FY26-FY28, including a rise in Australia store openings to around 7pa and 50 new stores forecast for Germany in the next five years.
Jarden estimates EPS can CAGR by 15% over the next three years.
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