Daily Market Reports | Feb 11 2026
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.
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AEL ALL APE ARB CQE DOW GDF ILA KAR LNW NEU NMG NWS ORG PMT PNI REA STO WDS
DOW DOWNER EDI LIMITED
Industrial Sector Contractors & Engineers - Overnight Price: $7.92
Canaccord Genuity rates ((DOW)) as Initiation of coverage with Buy (1) -
Canaccord Genuity initiates coverage of Downer EDI with a positive stance, arguing the company has emerged from a multi-year reset with a simpler structure, improved margins and more predictable earnings.
The broker highlights Downer’s refocus on essential services across transport, energy and facilities, which is reducing exposure to large, higher-risk construction contracts while lifting return quality.
A substantial divestment program since 2023 has sharpened the earnings profile and strengthened cash generation, supporting ongoing debt reduction and dividends.
Canaccord sees scope for steady margin expansion and earnings growth from FY26, underpinned by long-dated contracts and strong work-in-hand visibility. Buy initiated with an $8.58 target.
This report was published on January 29, 2026.
Target price is $8.58 Current Price is $7.92 Difference: $0.66
If DOW meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $8.45, suggesting upside of 6.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 28.50 cents and EPS of 41.00 cents.
At the last closing share price the estimated dividend yield is 3.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 42.7, implying annual growth of 109.5%.
Current consensus DPS estimate is 27.9, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 18.5.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 33.00 cents and EPS of 45.00 cents.
At the last closing share price the estimated dividend yield is 4.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.3, implying annual growth of 10.8%.
Current consensus DPS estimate is 31.0, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 16.7.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GDF GARDA PROPERTY GROUP
REITs - Overnight Price: $1.17
Moelis rates ((GDF)) as Buy (1) -
Garda Property has upgraded guidance, expecting lending to make up 46% of revenue in FY26. This has led to a 10% upgrade to FY26 EPS guidance. More growth is expected as vacant industrial space is leased.
Moelis increases its earnings profile in line with guidance, underpinned by a larger lending book and offset by a slower letting period at Acacia Ridge. Buy rating and $1.62 target retained.
This report was published on February 6, 2026.
Target price is $1.62 Current Price is $1.17 Difference: $0.45
If GDF meets the Moelis target it will return approximately 38% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 8.50 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 7.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.70.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 9.30 cents and EPS of 10.90 cents.
At the last closing share price the estimated dividend yield is 7.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.73.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ILA ISLAND PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences - Overnight Price: $0.42
Research as a Service (RaaS) rates ((ILA)) as No Rating (-1) -
Island Pharmaceuticals has announced feedback from the US FDA on how to progress Galidesivir for approval under the Animal Rule pathway. The FDA provided guidance for regulatory alignment and this is considered a further de-risking event for the business as no more clarifying questions were required.
Pivotal study efficacy results are likely to be available in late 2026. Separately, the company has also raised $9m in a placement at $0.35 a share. It is now fully funded to complete the program and make its new drug submission.
It will become the first Australian biotech to deliver a drug by the Animal Rule pathway. Research as a Service (RaaS) provides a $1.24 valuation, raised from $1.14.
Research as a Service (RaaS) research doesn't carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on February 6, 2026.
Target price is $1.24 Current Price is $0.42 Difference: $0.82
If ILA meets the Research as a Service (RaaS) target it will return approximately 195% (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 1.77 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 23.73.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.94.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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