Australian Broker Call *Extra* Edition – Feb 09, 2026

Array
(
    [0] => Array
        (
            [0] => ((AMC))
            [1] => ((CCP))
            [2] => ((COF))
            [3] => ((CQE))
            [4] => ((CHC))
            [5] => ((CQE))
            [6] => ((GGP))
            [7] => ((GNC))
            [8] => ((IDX))
            [9] => ((JIN))
            [10] => ((LOT))
            [11] => ((MGH))
            [12] => ((MSB))
            [13] => ((PEN))
            [14] => ((PNI))
            [15] => ((QOR))
            [16] => ((RYM))
            [17] => ((STK))
            [18] => ((TAH))
        )

    [1] => Array
        (
            [0] => AMC
            [1] => CCP
            [2] => COF
            [3] => CQE
            [4] => CHC
            [5] => CQE
            [6] => GGP
            [7] => GNC
            [8] => IDX
            [9] => JIN
            [10] => LOT
            [11] => MGH
            [12] => MSB
            [13] => PEN
            [14] => PNI
            [15] => QOR
            [16] => RYM
            [17] => STK
            [18] => TAH
        )

)

This story features AMCOR PLC, and other companies.
For more info SHARE ANALYSIS: AMC
The company is included in ASX100, 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)

AMC   CCP   COF   CQE (2)   GGP   GNC   IDX   JIN   LOT   MGH   MSB   PEN   PNI   QOR   RYM   STK   TAH  

AMC    AMCOR PLC

Paper & Packaging – Overnight Price: $68.82

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

Amcor delivered first half earnings of $1.83 per share, slightly ahead of consensus. The result was characterised by sustained volume weakness, Jarden notes, which improved modestly through the second quarter from the first, but remains in negative territory.

Supporting earnings have been cost-out and synergies benefits which have lowered costs alongside a lower tax rate, but “restructuring costs” below-the-line have also lifted.

The maintenance of FY26 earnings guidance has been well-received and Jarden believes marks an end to speculation amongst investors the FY26 outlook would be downgraded.

Target falls to $75.00 from $80.20 due to FX moves, Overweight retained.

This report was published on February 4, 2026.

Target price is $75.00 Current Price is $68.82 Difference: $6.18
If AMC meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $77.87, suggesting upside of 14.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 394.90 cents and EPS of 617.70 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 11.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 574.0, implying annual growth of N/A.
Current consensus DPS estimate is 370.5, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 11.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 417.95 cents and EPS of 671.48 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 10.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 639.3, implying annual growth of 11.4%.
Current consensus DPS estimate is 377.7, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 10.7.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CCP    CREDIT CORP GROUP LIMITED

Business & Consumer Credit – Overnight Price: $11.25

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

First half results from Credit Corp missed expectations and Canaccord Genuity notes the stock has slumped to near two-year lows. While acknowledging there are questions, the broker reminds investors this has occurred before.

The main dynamic in play is the timing of provisioning and marketing within Australasian lending.

Overall, Canaccord Genuity expects earnings growth should move into low double-digit territory while the valuation is at decade lows and this should provide an opportunity in time. Buy. Target is reduced to $19.70 from $21.60.

This report was published on February 3, 2026.

Target price is $19.70 Current Price is $11.25 Difference: $8.45
If CCP meets the Canaccord Genuity target it will return approximately 75% (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 76.00 cents and EPS of 151.00 cents.
At the last closing share price the estimated dividend yield is 6.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.45.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 83.00 cents and EPS of 165.00 cents.
At the last closing share price the estimated dividend yield is 7.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.82.

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

COF    CENTURIA OFFICE REIT

REITs – Overnight Price: $1.04

Jarden rates ((COF)) as Underweight (4) –

Centuria Office REIT delivered an in-line first half result while maintaining FY26 guidance. Progress has been made on the leasing front, Jarden notes, derisking near-term lease expiry in FY26 but at the cost of elevated incentives levels and vacancy ticked up marginally.

Jarden rolls forward its model and updates assumptions to reflect a moderate occupancy recovery, offset by asset disposals and higher bank bill swap forward curve, resulting in a moderation of funds from operation growth in FY26-28.

Despite the apparent value on offer, the broker remains cautious on metro office exposures characterised by elevated vacancy, relatively shallow leasing demand, and elevated incentives across full floor fit outs.

Target falls to $1.10 from $1.20, Underweight retained.

This report was published on February 4, 2026.

Target price is $1.10 Current Price is $1.04 Difference: $0.06
If COF meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $1.07, suggesting upside of 1.9%(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 11.30 cents.
At the last closing share price the estimated dividend yield is 9.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.4, implying annual growth of N/A.
Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 9.6%.
Current consensus EPS estimate suggests the PER is 9.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 10.10 cents and EPS of 11.30 cents.
At the last closing share price the estimated dividend yield is 9.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.1, implying annual growth of 6.1%.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 9.7%.
Current consensus EPS estimate suggests the PER is 8.7.

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

CQE    CHARTER HALL SOCIAL INFRASTRUCTURE REIT

Childcare – Overnight Price: $2.90

Jarden rates ((CQE)) as Neutral (3) –

Charter Hall Social Infrastructure REIT delivered new FY26 funds from operations guidance ahead of consensus and increased dividend guidance, surprising market expectations by 1.6%. It is otherwise labelled an in-line first half result.

Jarden continues to like the social infrastructure asset class, supported by structural demographic tailwinds of population growth and increasing female labour force participation.

In the broker’s view, Charter Hall Social Infrastructure appears to be a beneficiary of the broader Charter Hall ((CHC)) ecosystem in terms of exposure to a wide funnel of transaction opportunities and access to attractive cost of capital.

Target falls to $3.50 from $3.60 on higher rates. Neutral retained.

This report was published on February 4, 2026.

Target price is $3.50 Current Price is $2.90 Difference: $0.6
If CQE meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 16.80 cents and EPS of 17.20 cents.
At the last closing share price the estimated dividend yield is 5.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.86.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 17.00 cents and EPS of 16.90 cents.
At the last closing share price the estimated dividend yield is 5.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.16.

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

Moelis rates ((CQE)) as Upgrade to Buy from Hold (1) –

Moelis suggests the recent sell-off in Charter Hall Social Infrastructure REIT shares creates an attractive entry point.

Earnings accretive capital recycling continues, combined with strong organic rental growth to offset the impact of higher debt costs.

The REIT is attractively valued at a -26% net tangible asset discount following a -16% sell-off over the past five months. Moelis upgrades near-term estimates driven by higher-yield asset remixing, with a more hawkish rate outlook offsetting these gains in FY28.

Target price increases to $3.55 from $3.39, upgrade to Buy from Hold.

This report was published on February 5, 2026.

Target price is $3.55 Current Price is $2.90 Difference: $0.65
If CQE meets the Moelis target it will return approximately 22% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 17.00 cents and EPS of 17.20 cents.
At the last closing share price the estimated dividend yield is 5.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.86.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 17.90 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 6.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.11.

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

GGP    GREATLAND RESOURCES LIMITED

Gold & Silver – Overnight Price: $11.87

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

Greatland Resources has reaffirmed FY26 production guidance to be at the upper end of 260-310,000 ounces with costs at the lower end of $2400-2800/oz.

Open pit ore mining increased 32% quarter on quarter with a focus on increasing productivity in stage II and stage VIII, a fourth consecutive quarter on quarter increase, Canaccord Genuity notes.

Grade performance reconciled with expectations in the quarter. Target is raised to $13.25 from $12.50. Buy rating is unchanged.

This report was published on February 2, 2026.

Target price is $13.25 Current Price is $11.87 Difference: $1.38
If GGP meets the Canaccord Genuity target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $15.83, suggesting upside of 28.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 105.0, implying annual growth of 65.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.8.

Forecast for FY27:

Current consensus EPS estimate is 64.1, 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 19.3.

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

GNC    GRAINCORP LIMITED

Agriculture – Overnight Price: $5.61

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

GrainCorp delivered FY26 earnings guidance that was materially below expectations, amid market dynamics that include ample supply and lower prices.

Canaccord Genuity suggests the significant margin contraction that is implied by earnings guidance reflects an aggressive approach to grain origination.

This should mean further investor uncertainty regarding through-cycle earnings. Capital management initiatives may have the potential to provide incremental support for the share price, the broker adds.

The stock is considered fundamentally undervalued and the target is lowered to $7.51 from $8.71. Buy rating.

This report was published on February 2, 2026.

Target price is $7.51 Current Price is $5.61 Difference: $1.9
If GNC meets the Canaccord Genuity target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $7.19, suggesting upside of 27.5%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 34.00 cents and EPS of 13.00 cents.
At the last closing share price the estimated dividend yield is 6.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 43.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.9, implying annual growth of -18.0%.
Current consensus DPS estimate is 25.5, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 37.9.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 34.00 cents and EPS of 37.00 cents.
At the last closing share price the estimated dividend yield is 6.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.16.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.6, implying annual growth of 98.7%.
Current consensus DPS estimate is 32.0, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 19.1.

Market Sentiment: 0.4
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: $2.43

Jarden rates ((IDX)) as Buy (1) –

Ahead of the first half result on February 24, Jarden forecasts first half EBITDA of $80.5m, driven by larger Australian revenue forecasts versus consensus, with growth of 8% anticipated.

The stock is one of the broker’s top picks in the current reporting season based on industry tailwinds that should support growth for the next two years.

The main risks are changes to government reimbursement, increased MRI competition and the Capital Health integration. Buy rating maintained and the target is raised to $3.35 from $3.30.

This report was published on February 5, 2026.

Target price is $3.35 Current Price is $2.43 Difference: $0.92
If IDX meets the Jarden target it will return approximately 38% (excluding dividends, fees and charges).
Current consensus price target is $3.57, suggesting upside of 45.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 12.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.13.

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 3.6%.
Current consensus EPS estimate suggests the PER is 18.8.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 16.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.09.

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 4.1%.
Current consensus EPS estimate suggests the PER is 15.4.

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

JIN    JUMBO INTERACTIVE LIMITED

Gaming – Overnight Price: $9.61

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

Preliminary first half results from Jumbo Interactive reveal EBITDA was ahead of Jarden’s estimates with a weaker performance in lottery retailing offset by higher-than-expected growth in the offshore business.

First half jackpot environment was “unfavourable” and the broker points out this presents headwinds for its share of ticket sales given the business has an overweight exposure to jackpot games.

Jarden is also disappointed with the apparent market share losses in the context of the revised marketing strategy. The company still has strong leverage to any return-to-trend jackpot activity and there is scope to partially arrest recent share losses.

The broker maintains an Overweight rating and reduces its target to $12.50 frrom $13.10.

This report was published on February 4, 2026.

Target price is $12.50 Current Price is $9.61 Difference: $2.89
If JIN meets the Jarden target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $13.33, suggesting upside of 35.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 30.00 cents and EPS of 82.00 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 11.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 76.5, implying annual growth of 19.3%.
Current consensus DPS estimate is 38.7, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 12.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 42.00 cents and EPS of 102.60 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 9.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 99.7, implying annual growth of 30.3%.
Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 9.9.

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

LOT    LOTUS RESOURCES LIMITED

Uranium – Overnight Price: $2.08

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

The first set of production figures from Lotus Resources shows progress in mining, grade, throughput and recovery.

Once sales start Canaccord Genuity expects the business will achieve among the highest average realised prices for producers which should support funding of the remaining capital expenditure throughout 2026.

The company produced 70,000lb from Kayalekera during the December quarter, largely in line with forecasts and the broker is increasingly confident in the ability to reach near-term nameplate.

Speculative Buy rating retained and the target is raised to $3.60 from $3.57.

This report was published on February 2, 2026.

Target price is $3.60 Current Price is $2.08 Difference: $1.52
If LOT meets the Canaccord Genuity target it will return approximately 73% (excluding dividends, fees and charges).
Current consensus price target is $3.61, suggesting upside of 67.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of minus 4.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 48.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -11.2, 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 FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 16.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.5, 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 14.9.

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

MGH    MAAS GROUP HOLDINGS LIMITED

Building Products & Services – Overnight Price: $4.20

Moelis rates ((MGH)) as Buy (1) –

Maas Group has divested its construction materials division to Heidelberg Materials Australia. Gross proceeds of $1.7bn will be used to reduce gearing and redeployed into growth investment including electrification, digital and industrial services.

The company will also make a -$100m investment for 1.7% equity in Firmus Technologies to obtain exposure to a vertically integrated developer of AI infrastructure.

Moelis considers the divestment has crystallised value at an attractive price and believes the debt production and balance sheet flexibility obtained will be encouraging for developments.

FY27-28 EBITDA estimates are revised to $120m and $133m, respectively, to account for the divestment. Buy. Target is $4.65.

This report was published on February 6, 2026.

Target price is $4.65 Current Price is $4.20 Difference: $0.45
If MGH meets the Moelis target it will return approximately 11% (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

MSB    MESOBLAST LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $2.23

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

Canaccord Genuity notes the number of bullish announcements from Mesoblast over recent weeks with a trading update reiterating the strength of Ryoncil in the paediatric aGVHD market.

Given patient adherence and strong real-world results the broker assesses an estimate of more than US$200m in peak sales is well supported.

The broker calculates the current core business on a stand-alone basis supports free cash flow of around US$115m, providing internal funding for the growing pipeline. Buy. Target rises to $3.32 from $3.11.

This report was published on February 3, 2026.

Target price is $3.32 Current Price is $2.23 Difference: $1.09
If MSB meets the Canaccord Genuity target it will return approximately 49% (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 2.15 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 103.67.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.15 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 53.75.

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

PEN    PENINSULA ENERGY LIMITED

Uranium – Overnight Price: $0.64

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

Peninsula Energy has exceeded expectations at MU-3 despite ongoing challenges, Canaccord Genuity observes.

Should the performance of MU-4 be sustained there is incremental value that can be ascribed to the Kendrick and Barber expansion areas which together represent more than 45mlb of potential future production.

The broker envisages material upside risk to sales revenue over 2026-27 amid current term and spot prices. Speculative Buy rating unchanged. Target is $1.29.

This report was published on February 2, 2026.

Target price is $1.29 Current Price is $0.64 Difference: $0.65
If PEN meets the Canaccord Genuity target it will return approximately 102% (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 5.22 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.25.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 3.07 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.83.

Market Sentiment: 1.0
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: $17.49

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

Pinnacle Investment Management has provided first half results which included the surprise acquisition of Pacific Asset Management which will be fully incorporated.

Total consideration was -$418.8m with $181m to be issued in scrip to the PAM shareholders.

Canaccord Genuity highlights this could be up to 10% accretive to EPS in the medium term. In the first half FUM of $202.5bn was slightly lower than expected, with the broker noting the “lumpiness” of institutional inflows.

The third quarter is expected to show a marked acceleration because of the timing of previously announced fundraising.

Incorporating the consolidation of the acquisition into its modelling, the broker puts its estimates, including target and rating under review.

This report was published on February 4, 2026.

Current Price is $17.49. Target price not assessed.
Current consensus price target is $22.23, suggesting upside of 23.4%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 67.8, implying annual growth of 7.3%.
Current consensus DPS estimate is 62.0, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 26.6.

Forecast for FY27:

Current consensus EPS estimate is 86.2, implying annual growth of 27.1%.
Current consensus DPS estimate is 77.2, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 20.9.

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

QOR    QORIA LIMITED

Software & Services – Overnight Price: $0.38

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

Qoria has penned a merger agreement with a US private company, Aura, whereby that company will acquire the Qoria business via a scheme of arrangement.

The combined company will then list on ASX with the code AXQ. Qoria shareholders will receive CDIs that represent 35% of the issued shares.

Canaccord Genuity notes the transaction is expected to deliver pro forma 2025 annual recurring revenue of US$316m. The broker retains an unchanged Buy rating and $0.80 target.

This report was published on February 3, 2026.

Target price is $0.80 Current Price is $0.38 Difference: $0.42
If QOR meets the Canaccord Genuity target it will return approximately 111% (excluding dividends, fees and charges).
Current consensus price target is $0.76, suggesting upside of 93.6%(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 minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 19.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.5, 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 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 38.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.3, 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.

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

RYM    RYMAN HEALTHCARE LIMITED

Aged Care & Seniors – Overnight Price: $2.25

Jarden rates ((RYM)) as Neutral (3) –

In the wake of the investor briefing from Ryman Healthcare, Jarden notes significant debt and development losses have dominated the investment case for the past three years.

A transition is now occurring in which yield will become the focus for investors, with asset growth providing valuation support albeit as a second consideration to the 14,500 unit and bed asset base.

The broker believes investors will need to be patient, although there is an attractive growth trajectory envisaged for the next 10-15 years. Neutral rating. Targets edges up to NZ$2.96 from NZ$2.94.

This report was published on February 4, 2026.

Current Price is $2.25. Target price not assessed.
The company’s fiscal year ends in March.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 3.78 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 59.60.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 3.96 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 56.89.

This company reports in NZD. 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

STK    STRICKLAND METALS LIMITED

Mining – Overnight Price: $0.20

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

Canaccord Genuity comments Strickland Metals has delivered a strong set of drill results from Rogozna gold and base metals project in Serbia.

Canaccord highlights the continuing momentum beyond the current 1.2m ounces of gold resource that was flagged in December.

The broker notes drill results are supported by multiple additional wide intersections across several holes that reinforce the scale and consistency in mineralisation.

Speculative Buy rating and $0.65 target.

This report was published on February 2, 2026.

Target price is $0.65 Current Price is $0.20 Difference: $0.45
If STK meets the Canaccord Genuity target it will return approximately 225% (excluding dividends, fees and charges).

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

TAH    TABCORP HOLDINGS LIMITED

Gaming – Overnight Price: $0.85

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

Jarden notes Tabcorp Holdings’ retail strategy is moving to focus on monetising in-venue engagement and distribution and away from a subsidy-based model.

Sky Racing is increasingly framed as a “stand-alone” media asset rather than a wagering support function.

The broker envisages scope for improved monetisation via external advertising with revenue that is, in the near term, independent of underlying betting activity.

The Victorian licence re-set and cost discipline have also de-risked the base and a further re-rating is now predicated on the company’s ability to monetise its unique assets, commentary suggests.

Hence, the broker lowers near term earnings expectations slightly but still expects a return to growth for domestic wagering turnover. Overweight. Target edges down to $0.95 from $1.

Liam Robertson takes over coverage of Tabcorp with this note.

This report was published on February 4, 2026.

Target price is $0.95 Current Price is $0.85 Difference: $0.1
If TAH meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $1.04, suggesting upside of 20.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 1.60 cents and EPS of 2.50 cents.
At the last closing share price the estimated dividend yield is 1.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 34.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.7, implying annual growth of 68.8%.
Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 31.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 2.20 cents and EPS of 3.20 cents.
At the last closing share price the estimated dividend yield is 2.59%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.4, implying annual growth of 25.9%.
Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 25.3.

Market Sentiment: 0.7
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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