Australian Broker Call *Extra* Edition – Dec 15, 2025

Array
(
    [0] => Array
        (
            [0] => ((AUE))
            [1] => ((BFG))
            [2] => ((CGS))
            [3] => ((CMA))
            [4] => ((CMA))
            [5] => ((APE))
            [6] => ((CNB))
            [7] => ((FLT))
            [8] => ((FLT))
            [9] => ((IAG))
            [10] => ((IMB))
            [11] => ((MYR))
            [12] => ((CBA))
            [13] => ((S32))
            [14] => ((SCG))
            [15] => ((DXS))
            [16] => ((SDF))
            [17] => ((SUL))
            [18] => ((WOW))
        )

    [1] => Array
        (
            [0] => AUE
            [1] => BFG
            [2] => CGS
            [3] => CMA
            [4] => CMA
            [5] => APE
            [6] => CNB
            [7] => FLT
            [8] => FLT
            [9] => IAG
            [10] => IMB
            [11] => MYR
            [12] => CBA
            [13] => S32
            [14] => SCG
            [15] => DXS
            [16] => SDF
            [17] => SUL
            [18] => WOW
        )

)

This story features AURUM RESOURCES LIMITED, and other companies.
For more info SHARE ANALYSIS: AUE
The company is included in 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)

AUE   BFG   CGS   CMA (2)   CNB   FLT (2)   IAG   IMB   MYR   S32   SCG   SDF   SUL   WOW  

AUE    AURUM RESOURCES LIMITED

Gold & Silver – Overnight Price: $0.62

Canaccord Genuity rates ((AUE)) as Speculative Buy (1) –

Aurum Resources reported strong step-back drill results at the Tchaga deposit at the Napie gold project in Cote D’lvoire. It confirmed shallow open-pittable zones plus deeper extensions beyond the current 0.54Moz resource, Canaccord Genuity highlights.

The broker notes mineralisation is now demonstrated over 2.3km strike and over 400m depth, including high-grade hits and broad lower-grade intervals at depth. This suggests meaningful upside vs prior 200koz extension assumptions.

With $43m cash and an aggressive 130,000m drilling plan, key catalysts are the March quarter resource updates and the Boundiali open-pit PFS.

Speculative Buy. Target unchanged at $1.50.

This report was published on December 11, 2025.

Target price is $1.50 Current Price is $0.62 Difference: $0.88
If AUE meets the Canaccord Genuity target it will return approximately 142% (excluding dividends, fees and charges).

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

BFG    BELL FINANCIAL GROUP LIMITED

Diversified Financials – Overnight Price: $1.28

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

Bell Financial’s trading update for the 11 months to November 2025 proved stronger than expected by the analyst at Research as a Service (RaaS).

Group pre-tax profit growth of 17% was no less than 15% above the RaaS estimate. However, generally lower peer multiples have compensated for the increase in forecasts, and thus the $2.45 valuation remains unchanged.

As Bell Financial continues to put in place a structure that incentivises fee income over transactional income, the analyst suggests this should lead to a re-rating over time.

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 11, 2025.

Target price is $2.45 Current Price is $1.28 Difference: $1.17
If BFG meets the Research as a Service (RaaS) target it will return approximately 91% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Research as a Service (RaaS) forecasts a full year FY25 dividend of 8.00 cents and EPS of 12.20 cents.
At the last closing share price the estimated dividend yield is 6.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.49.

Forecast for FY26:

Research as a Service (RaaS) forecasts a full year FY26 dividend of 9.00 cents and EPS of 10.30 cents.
At the last closing share price the estimated dividend yield is 7.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.43.

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: $2.29

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

Canaccord Genuity initially considered Cogstate’s 1H26 update as a downgrade, but later observed the weaker recognised revenue/margins largely reflect timing and mix in a contract-based model. It is not a change in underlying demand, the broker concluded.

Contracted revenue was strong at US$37-40m, and the broker expects the FY26 revenue shortfall to be recovered in 2H with only minor earnings impact.

Gross margin may come in -1-2pp below the 61% FY26 forecast, pressuring earnings slightly, while higher staff costs are already expected. 

AI rollout is expected to drive OpEx efficiencies over the next 12–18 months as the business shifts toward more service-heavy trial work.

Buy. Target unchanged at $3.30.

This report was published on December 11, 2025.

Target price is $3.30 Current Price is $2.29 Difference: $1.01
If CGS meets the Canaccord Genuity target it will return approximately 44% (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 0.82%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.38.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 3.58 cents and EPS of 11.82 cents.
At the last closing share price the estimated dividend yield is 1.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.37.

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

CMA    CARMA LIMITED

Automobiles & Components – Overnight Price: $1.83

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

Canaccord Genuity initiates coverage on Carma with a $3.50 target and Buy rating.

The company operates a vertically integrated digital platform for buying and selling used cars in Australia, offering a higher-quality and more reliable alternative to the traditional dealership experience

Carma’s FY25 performance reflects rapid early-stage scaling, observes the broker, with revenue of $71m expected to rise to $128m in FY26 on the path to $700m by FY30.

The analysts expect strong growth in retail, wholesale and ancillary revenue streams as supporting the company’s emerging position in the fragmented used-car market.

It’s thought improving unit economics will be driven by rising Sell-to-Carma sourcing, higher utilisation of the reconditioning centre and stronger finance attachment rates.

This report was published on November 19, 2025.

Target price is $3.50 Current Price is $1.83 Difference: $1.665
If CMA 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 25.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.17.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 20.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 9.04.

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

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

Canaccord Genuity spotted newly listed Carma releasing a positive trading update. The business remains on a pathway to meet the broker’s $50m forecast for H1 but will require accelerating momentum to meet the prospectus forecast of $127m total revenue for FY26.

Commentary also highlights the company has expanded its largest and highest margin Sell-to-Carma sourcing channel to six sites in Sydney, up from three at IPO in October.

The broker is of the view this company will disrupt the second hand car market in Australia, which is still highly fragmented. 

Around 3.6m used cars are sold annually in Australia with circa 67% sold through used-car dealers. Of the 4,400 dealers domestically, Eagers Automotive ((APE)) remains the largest with an estimated market share of only 5%.

Buy rating re-iterated, with the broker stating its positive conviction has been reinforced.

This report was published on December 12, 2025.

Target price is $3.50 Current Price is $1.83 Difference: $1.665
If CMA 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 25.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.17.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 20.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 9.04.

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

CNB    CARNABY RESOURCES LIMITED

Mining – Overnight Price: $0.42

Moelis rates ((CNB)) as Buy (1) –

Carnaby Resources released further drilling results from ongoing work at the Trekelano deposit which is part of its Greater Duchess project in North Qld, Moelis explains.

The results infer a great mineralisation footprint across the tenements and the recently acquired asset is expected to boost the existing Greater Duchess ore bodies.

The analyst sees the explorer as well positioned to move to production with few impediments between starting and concentrate sales as Carnaby is well capitalised.

No change to Buy rating and 76c target price.

This report was published on December 12, 2025.

Target price is $0.76 Current Price is $0.42 Difference: $0.335
If CNB meets the Moelis target it will return approximately 79% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 3.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.14.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 11.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.63.

Market Sentiment: 1.0
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: $14.81

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

With Flight Centre Travel announcing the acquisition of Iglu, a UK online cruise agency, and raising guidance for FY26, Canaccord Genuity has amended forecasts and lifted its price target to $16 from $15.20.

Management’s guidance for FY26 underlying pre-tax profit was upgraded to $315-350m, from $305-340m.

Commentary highlights Flight Centre has been focused on growing its cruise business over the past couple of years, which offers better margins than its overall Leisure portfolio.

Canaccord Genuity points out the skew towards H2 will become bigger due to the closing of this latest transaction. Meeting guidance and consensus are seen as vital to drive the share price from here. Buy.

This report was published on December 12, 2025.

Target price is $15.20 Current Price is $14.81 Difference: $0.39
If FLT meets the Canaccord Genuity target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $15.61, suggesting upside of 4.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 42.00 cents and EPS of 104.00 cents.
At the last closing share price the estimated dividend yield is 2.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 101.2, implying annual growth of 103.9%.
Current consensus DPS estimate is 45.3, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 14.8.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 44.00 cents and EPS of 117.00 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 117.4, implying annual growth of 16.0%.
Current consensus DPS estimate is 52.0, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 12.7.

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

Jarden rates ((FLT)) as Buy (1) –

Jarden continues to like Flight Centre Travel and points to the acquisition of UK cruise agency Iglu is set to only strengthen the travel operator’s position as the largest omni-channel operator globally.

Management has raised FY26 profit before tax guidance by around 3% as a result and the analyst lifts net profit after tax forecasts by around 2-3% for FY26-FY27.

The outlook for travel is continuing to improve, the analyst believes, and sees “green shoots” emerging.

Flight Centre is moving to a more capital light model which could generate significant margin upside and help the stock re-rate. Jarden forecasts an EPS CAGR of 15% from FY26-FY29.

Target price is raised to $18.50 from $18 with no change in Buy rating.

This report was published on December 10, 2025.

Target price is $18.50 Current Price is $14.81 Difference: $3.69
If FLT meets the Jarden target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $15.61, suggesting upside of 4.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 58.00 cents and EPS of 106.40 cents.
At the last closing share price the estimated dividend yield is 3.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 101.2, implying annual growth of 103.9%.
Current consensus DPS estimate is 45.3, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 14.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 77.00 cents and EPS of 134.80 cents.
At the last closing share price the estimated dividend yield is 5.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.99.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 117.4, implying annual growth of 16.0%.
Current consensus DPS estimate is 52.0, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 12.7.

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

IAG    INSURANCE AUSTRALIA GROUP LIMITED

Insurance – Overnight Price: $7.81

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

Jarden highlights the ACCC’s move to block Insurance Australia Group’s acquisition of RACWA, concluding it would result in a “substantial lessening of competition in the supply of motor vehicle insurance and home and contents insurance in WA”.

The analyst still believes there is a reasonable chance the acquisition can be approved and has been delayed, with the insurer set to lodge an application with the ACCC for assessment under the new mandatory merger control regime which starts on Jan 1, 2026.

Under the new regime, the broker believes a stronger insurer would emerge which is better positioned for large catastrophic events with improved access to capital markets and scale of reinsurance.

No change to Overweight rating and $8.20 target price.

This report was published on December 11, 2025.

Target price is $8.20 Current Price is $7.81 Difference: $0.39
If IAG meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $8.83, suggesting upside of 13.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 32.00 cents and EPS of 44.80 cents.
At the last closing share price the estimated dividend yield is 4.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.2, implying annual growth of -24.9%.
Current consensus DPS estimate is 30.3, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 18.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 33.00 cents and EPS of 45.40 cents.
At the last closing share price the estimated dividend yield is 4.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 48.6, implying annual growth of 12.5%.
Current consensus DPS estimate is 34.3, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 16.0.

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

IMB    INTELLIGENT MONITORING GROUP LIMITED

Commercial Services & Supplies – Overnight Price: $0.64

Moelis rates ((IMB)) as Buy (1) –

Intelligent Monitoring announced the acquisition of Tyco NZ and Red Wolf Security Group, with Tyco marking the preliminary move into fire services which is considered by Moelis as a significant strategic move to grow TAM and cross sell its other services.

Red Wolf is noted as a high-level security provider, with both businesses offering service, maintenance and installations for commercial customers.

The analyst raises EPS estimates by 0.1% for FY26 and 6.6% for FY27 to reflect the acquisitions. Moelis views Tyco as a major milestone for the company.

Target price rises to 95c and a Buy rating is retained with an appealing valuation around 8.5x FY27 earnings.

This report was published on December 12, 2025.

Target price is $0.95 Current Price is $0.64 Difference: $0.31
If IMB meets the Moelis target it will return approximately 48% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.80.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 7.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.42.

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

MYR    MYER HOLDINGS LIMITED

Household & Personal Products – Overnight Price: $0.47

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

Canaccord Genuity highlights AGM commentary suggests both Myer Retail and Apparel Brands look to have traded well through Oct/Nov ahead of peak trading.

Buy rating retained with 79c price target while forecasts are positioned near the bottom of management’s indicated range.

The analysts consider gross margin to be under a level of pressure at present (promotional intensity, MEB clearance ahead of new ranging), and this has been factored into updated modelling.

Earnings estimates have thus reduced, albeit in modest numbers. Dividend estimates have reduced to 2.5c annually for the next two years.

Comentary notes the partnership with CommBank ((CBA)) has been extended and expanded so that CommBank awards points can be transferred to Myer one.

In addition, JD Sports and The Dom have adopted Myer one as their loyalty program; now customers can earn Myer one points from purchases within JD Sports and The Dom stores/sites.

This report was published on December 12, 2025.

Target price is $0.79 Current Price is $0.47 Difference: $0.32
If MYR meets the Canaccord Genuity target it will return approximately 68% (excluding dividends, fees and charges).
The company’s fiscal year ends in July.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 2.50 cents and EPS of 3.70 cents.
At the last closing share price the estimated dividend yield is 5.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.70.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 2.50 cents and EPS of 4.80 cents.
At the last closing share price the estimated dividend yield is 5.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.79.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

S32    SOUTH32 LIMITED

Mining – Overnight Price: $3.56

Canaccord Genuity rates ((S32)) as No Rating (-1) –

Canaccord Genuity has suspended its coverage of South32.

This report was published on December 12, 2025.

Current Price is $3.56. Target price not assessed.
Current consensus price target is $3.61, suggesting upside of 2.5%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 22.0, implying annual growth of N/A.
Current consensus DPS estimate is 9.8, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 16.0.

Forecast for FY27:

Current consensus EPS estimate is 27.0, implying annual growth of 22.7%.
Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 13.0.

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

SCG    SCENTRE GROUP

REITs – Overnight Price: $4.20

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

Jarden notes a new Dexus ((DXS)) fund took a 25% interest in Westfield Chermside at 0.3% premium to book value for $683m.

Following the deal, Scentre Group owns a 50% stake in Chermside, with the remaining owned by Dexus’s two funds.

The broker reckons the transaction is positive for Scentre, done at a sharp 5% cap rate.

Overweight. Target price $4.55.

This report was published on December 15, 2025.

Target price is $4.55 Current Price is $4.20 Difference: $0.35
If SCG meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $4.23, suggesting upside of 1.2%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 17.70 cents and EPS of 22.80 cents.
At the last closing share price the estimated dividend yield is 4.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.6, implying annual growth of 11.7%.
Current consensus DPS estimate is 17.8, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 18.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 18.10 cents and EPS of 23.90 cents.
At the last closing share price the estimated dividend yield is 4.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.3, implying annual growth of 7.5%.
Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 17.2.

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

SDF    STEADFAST GROUP LIMITED

Insurance – Overnight Price: $5.09

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

Steadfast Group reported FY25 underlying net profit after tax of $346.2m, which came within guidance range and met Jarden and consensus expectations.

Relative to the analyst’s forecasts, consolidated revenue missed expectations by -1.1%, but cost control resulted in a better-than-forecast earnings result from consolidated entities by $4.3m.

Earnings (EBITDA) margins slipped by -40bps, with a slowdown in gross written premium in 2H25 to 5.3% from 12.4% in 1H25.

Jarden raises net profit after tax forecasts by 1.5% for FY26 and 3% for FY27. Target price lifts to $6.90 from $6.75 and an Overweight rating was retained.

This report was published on August 29, 2025.

Target price is $6.90 Current Price is $5.09 Difference: $1.81
If SDF meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $6.15, suggesting upside of 19.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 21.10 cents and EPS of 33.40 cents.
At the last closing share price the estimated dividend yield is 4.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.9, implying annual growth of 5.1%.
Current consensus DPS estimate is 21.1, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 16.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 22.90 cents and EPS of 36.10 cents.
At the last closing share price the estimated dividend yield is 4.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.0, implying annual growth of 6.6%.
Current consensus DPS estimate is 21.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 15.1.

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

SUL    SUPER RETAIL GROUP LIMITED

Automobiles & Components – Overnight Price: $15.47

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

Jarden has an Overweight rating and $17.90 target price on Super Retail.

The broker’s house view is the RBA will stay on hold in 2026, but warns any hint of a hike could trigger a discretionary sector de-rating, with Super Retail among the ones most exposed.

This report was published on December 12, 2025.

Target price is $17.90 Current Price is $15.47 Difference: $2.43
If SUL meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $18.13, suggesting upside of 16.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 74.00 cents and EPS of 105.80 cents.
At the last closing share price the estimated dividend yield is 4.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 108.0, implying annual growth of 10.0%.
Current consensus DPS estimate is 69.2, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 14.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 83.00 cents and EPS of 119.60 cents.
At the last closing share price the estimated dividend yield is 5.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 122.2, implying annual growth of 13.1%.
Current consensus DPS estimate is 78.9, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 12.7.

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

WOW    WOOLWORTHS GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $29.56

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

Jarden has an Overweight rating and $31 target price on Woolworths Group.

The broker’s house view is the RBA will stay on hold in 2026, but sees any hint of a rate hike benefiting Woolworths.

This report was published on December 12, 2025.

Target price is $31.00 Current Price is $29.56 Difference: $1.44
If WOW meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $30.12, suggesting upside of 2.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 95.00 cents and EPS of 128.00 cents.
At the last closing share price the estimated dividend yield is 3.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 124.6, implying annual growth of 58.0%.
Current consensus DPS estimate is 93.2, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 23.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 105.00 cents and EPS of 141.20 cents.
At the last closing share price the estimated dividend yield is 3.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 138.5, implying annual growth of 11.2%.
Current consensus DPS estimate is 103.7, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 21.1.

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

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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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