Daily Market Reports | 10:00 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
3DA ACW AHL ARF ATA AZY BGL BOE MPW NWL PLY PWR SGLLV TLX
3DA AMAERO LIMITED
Industrial Sector Contractors & Engineers - Overnight Price: $0.25
Research as a Service (RaaS) rates ((3DA)) as No Rating (-1) -
Amaero announced it has received a $4.6m order from Titomic ((TTT)) for refractory alloy powders, with shipments expected across 3Q and 4Q26.
The order, as explained by the analyst, is under the previously announced five year exclusive supplier and development agreement between the two companies.
Valuation 82c.
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 22, 2025.
Target price is $0.82 Current Price is $0.25 Difference: $0.57
If 3DA meets the Research as a Service (RaaS) target it will return approximately 228% (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 0.00 cents and EPS of minus 2.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.42.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 27.78.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ACW ACTINOGEN MEDICAL LIMITED
Pharmaceuticals & Biotech/Lifesciences - Overnight Price: $0.06
Canaccord Genuity rates ((ACW)) as Speculative Buy (1) -
Canaccord Genuity retains a Speculative Buy rating and 8c target price on Actinogen Medical, with the biotech closing enrollment at 246 participants for the randomised, double blind, placebo controlled phase 2b/3 trial (XanaMIA).
The readout is due in November 2026 and a positive result should pave the way for a final phase 3 trial, the analyst notes.
An interim analysis of safety and efficacy is anticipated in late January.
This report was published on December 18, 2025.
Target price is $0.08 Current Price is $0.06 Difference: $0.021
If ACW 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 5.90.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.00 cents.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AHL ADRAD HOLDINGS LIMITED
Overnight Price: $1.02
Taylor Collison rates ((AHL)) as Initiation of coverage with Buy (1) -
Taylor Collison has initiated coverage of Adrad with a Buy rating and target price of $1.35.
The company designs and manufactures heat-exchange/cooling systems for transport, industrial and mining customers, with growing exposure to data centres and electrification.
The broker notes the core business is profitable with strong returns and scope for volume and margin upside. New management is pushing to convert Asia, distribution and product initiatives into growth.
Despite liquidity and CEO succession risks, the stock is materially undervalued, in the broker's opinion, supported by a strong order book and over 20% of trailing EBITDA in cost savings.
This report was published on December 16, 2025.
Target price is $1.35 Current Price is $1.02 Difference: $0.33
If AHL meets the Taylor Collison target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 dividend of 4.10 cents and EPS of 9.10 cents.
At the last closing share price the estimated dividend yield is 4.02%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.21.
Forecast for FY27:
Taylor Collison forecasts a full year FY27 dividend of 5.30 cents and EPS of 10.60 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 9.62.
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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