Daily Market Reports | 11:00 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)
29M ACE AEL AMC AMI ANZ AZJ BGL BXB CCX CEN CSC CWY CY5 GLN NXG ORA PNI PNR PPS QAN QOR QUB SS1 STK TLX VAU (2) VGN VUL WGX
ORA ORORA LIMITED
Paper & Packaging - Overnight Price: $2.06
Jarden rates ((ORA)) as Buy (1) -
Orora goes into the 1H26 result with low market expectations, with Jarden noting investor focus is firmly on Saverglass, where weak end demand and ongoing de-stocking continue to cloud the near-term earnings outlook.
The broker forecasts 1H26 underlying earnings (EBIT) of $122m, around -5% below consensus, with Saverglass EBIT expected at $58.8m, modestly below market expectations, partly offset by resilient performance from Australian Cans.
Jarden believes maintaining FY26 guidance will be the key share price catalyst, with no balance sheet concerns and improving free cash flow from FY27 potentially supporting capital management.
The broker retained its Buy rating and $2.60 target price, with forecasts unchanged and a pronounced 2H26 earnings skew already embedded.
This report was published on January 21, 2026.
Target price is $2.60 Current Price is $2.06 Difference: $0.54
If ORA meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $2.27, suggesting upside of 10.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 10.10 cents and EPS of 13.60 cents.
At the last closing share price the estimated dividend yield is 4.90%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 22.7%.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.6.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 12.50 cents and EPS of 16.80 cents.
At the last closing share price the estimated dividend yield is 6.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.6, implying annual growth of 10.6%.
Current consensus DPS estimate is 10.9, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 14.1.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PNI PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED
Wealth Management & Investments - Overnight Price: $17.47
Canaccord Genuity rates ((PNI)) as Buy (1) -
Canaccord Genuity has reiterated its Buy rating on Pinnacle Investment Management but lowered its target price to $28.02 from $29.00, reflecting lower performance fee expectations and delays to the launch of Metrics’ Asset-Based Lending Trusts.
Commentary suggests Pinnacle remains well positioned into FY26, supported by expected inflows across affiliates including Metrics, Plato, Life Cycle and Coolabah, despite recent market volatility.
The broker has upgraded 1H26 FUM forecast to $210.1bn but downgraded its 1H26 net profit forecast to $64.7m, citing weaker performance fees, while 2Q26 net FUM flow expectations are lowered to $6.1bn from $7.2bn following an expected mandate loss at ResCap.
Pinnacle is expected to be removed from the ASX100 in the March rebalance and re-enter the Small Ordinaries.
This report was published on January 19, 2026.
Target price is $28.02 Current Price is $17.47 Difference: $10.55
If PNI meets the Canaccord Genuity target it will return approximately 60% (excluding dividends, fees and charges).
Current consensus price target is $23.46, suggesting upside of 34.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 68.00 cents and EPS of 70.50 cents.
At the last closing share price the estimated dividend yield is 3.89%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 69.5, implying annual growth of 10.0%.
Current consensus DPS estimate is 61.1, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 25.1.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 83.00 cents and EPS of 88.30 cents.
At the last closing share price the estimated dividend yield is 4.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 85.2, implying annual growth of 22.6%.
Current consensus DPS estimate is 75.2, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 20.5.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PNR PANTORO GOLD LIMITED
Gold & Silver - Overnight Price: $5.40
Moelis rates ((PNR)) as Hold (3) -
At first glance Pantoro Gold delivered a slightly softer December quarter on production but continued to build cash, with output of 22.1koz Au below expectations and all-in-sustaining-costs rising to $2,571/oz, while the cash balance increased by around $35m q/q to $197.3m.
Moelis notes the cash build came despite elevated exploration and growth spend of around -$32m, with higher head grades at Norseman offset by slightly weaker processing throughput over the period.
Year-to-date production of 41.6koz is tracking below the bottom end of FY guidance of 100koz, implying execution risk, but the analyst believes unhedged exposure to a strong gold price and the high-grade nature of the deposit provide scope for a stronger 2H.
From a valuation perspective, the broker believes much of the near-term upside has been captured following a 21% share price rally, though notes spot gold pricing could lift its valuation materially above current levels if sustained.
This report was published on January 22, 2026.
Target price is $6.00 Current Price is $5.40 Difference: $0.6
If PNR meets the Moelis target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $6.05, suggesting upside of 12.0%(ex-dividends)
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 58.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 73.4, implying annual growth of 395.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.4.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 41.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 84.9, implying annual growth of 15.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 6.4.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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