Daily Market Reports | 11:45 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)
APE APZ ASG BSL CDA GHM HLS KYP LIC NWH NWL PDN PWH PWR SLC
CDA CODAN LIMITED
Hardware & Equipment - Overnight Price: $34.69
Moelis rates ((CDA)) as Buy (1) -
Codan's first half result was largely in line with estimates and Moelis makes marginal upgrades to FY26 and FY27 EPS of 1.3% and 0.4%, respectively. Minelab continues to benefit from elevated gold prices alongside new products being brought to market.
The broker suspects new product, supported by a strong macro environment, could provide upside risk to its estimates in the second half and FY27.
Communications business is performing in line with expectations and the broker backs management to execute on its stated target of 30% EBIT margins by the end of FY27. Buy rating. Target rises to $42.80 from $42.31.
This report was published on February 20, 2026.
Target price is $42.80 Current Price is $34.69 Difference: $8.11
If CDA meets the Moelis target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $37.75, suggesting upside of 8.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 41.70 cents and EPS of 83.30 cents.
At the last closing share price the estimated dividend yield is 1.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 84.0, implying annual growth of 47.1%.
Current consensus DPS estimate is 38.1, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 41.5.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 49.70 cents and EPS of 99.30 cents.
At the last closing share price the estimated dividend yield is 1.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 96.0, implying annual growth of 14.3%.
Current consensus DPS estimate is 45.0, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 36.3.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GHM GOLDEN HORSE MINERALS LIMITED
Overnight Price: $0.72
Canaccord Genuity rates ((GHM)) as Speculative Buy (1) -
Canaccord Genuity highlights the results at Hopes Hill, WA, where Golden Horse Minerals has intersected visible gold in its first diamond drill hole for the year, beneath the historical pit.
The pit previously produced 216,000 ounces at 2.4g/t gold. The hole returned 4m at 4.60g/t from 297m, including 1.1m at 8.60/t within a broader 7m zone of 2.8g/t.
Canaccord Genuity retains a Speculative Buy rating and $1.50 target.
This report was published on February 17, 2026.
Target price is $1.50 Current Price is $0.72 Difference: $0.78
If GHM meets the Canaccord Genuity target it will return approximately 108% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HLS HEALIUS LIMITED
Healthcare services - Overnight Price: $0.69
Jarden rates ((HLS)) as Underweight (4) -
Healius reported 1H26 EBITDA of $122.2m, a -1.2% miss versus consensus, with EBIT of $7.9m implying around 83% of FY26 EBIT guidance of circa $48m is weighted to 2H26, which Jarden suggests heightens earnings risk.
The broker notes restructuring benefits are emerging through lab rationalisation, collection centre closures and 400FTE reductions, but believes delivery of guidance relies heavily on a seasonal uplift in pathology volumes and improved mix.
Cash flow disappointed due to a -$22.7m ATO settlement, -$11.6m in termination costs and a further circa -$19m lease liability settlement. The analyst warns the balance sheet may return to net debt.
Jarden retains an Underweight rating and the target price decreases to $0.77 from $0.81 following earnings forecast downgrades for FY26-FY28.
This report was published on February 18, 2026.
Target price is $0.77 Current Price is $0.69 Difference: $0.085
If HLS meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $0.81, suggesting upside of 19.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 97.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 0.7, 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 97.1.
Forecast for FY27:
Jarden forecasts a full year FY27 EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 3.6, implying annual growth of 414.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 18.9.
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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