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.
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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)
BFG CGS CHN CVV D3E DXS DYL FBU IMB MGR NAB NWL PEN PLS RHC SFR SLC SPK STO TLC TNE VCX
CVV CARAVEL MINERALS LIMITED
Copper - Overnight Price: $0.39
Canaccord Genuity rates ((CVV)) as Speculative Buy (1) -
Canaccord retains its Speculative Buy rating on Caravel Minerals and raises its price target to $0.80 from $0.60 following preliminary export credit agency support for the Caravel copper project.
The broker's long-term copper price assumption is also raised by 22% to US$5.50/lb.
The analyst highlights non-binding Letters of Interest from Finnvera plc, Finland’s official Export Credit Agency, and KfW IPEX, including potentially US$220m in senior debt.
These prospects are a meaningful step towards a structured funding package alongside offtake and other financing options, according to the broker.
The definitive feasibility study (DFS) ts progressing towards mid-2026 completion, highlights Canaccord, with process plant design around 90% complete.
This report was published on February 19, 2026.
Target price is $0.80 Current Price is $0.39 Difference: $0.41
If CVV meets the Canaccord Genuity target it will return approximately 105% (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 0.00 cents.
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
D3E D3 ENERGY LIMITED
NatGas - Overnight Price: $0.38
Research as a Service (RaaS) rates ((D3E)) as No Rating (-1) -
D3 Energy represents a compelling investment case as a leveraged play on natural gas and helium in South Africa and Australia, Research as a Service (RaaS) suggests.
Commentary suggests the association of natural gas with helium gives a material point of difference compared with listed upstream peers.
The company is looking to achieve commercial resolution and project sanctions in 2026. The analyst believes the business is a niche opportunity in the global energy environment. Net asset valuation is $2.28.
RaaS research doesn't carry any ratings or targets. Investors can draw conclusions from valuation and commentary.
This report was published on February 23, 2026.
Target price is $2.28 Current Price is $0.38 Difference: $1.9
If D3E meets the Research as a Service (RaaS) target it will return approximately 500% (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 2.18 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.43.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.95 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 19.49.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DXS DEXUS
REITs - Overnight Price: $6.57
Jarden rates ((DXS)) as Underweight (4) -
Jarden retains its Underweight rating on Dexus and lifts its price target by 10c to $7.55 after 1H adjusted funds from operations (AFFO) of 23.6c beat the 23.4 consensus forecast.
Stronger trading profits offset slightly weaker underlying FFO, explain the analysts. FY26 AFFO guidance of 44.5-45.5c was unchanged and a buyback of up to 10% of securities (around $750m) was announced.
The broker updates its forecasts to reflect lower trading profits from FY27, the buyback, and a higher interest rate curve, resulting in modest AFFO and FFO revisions across FY26-28.
Despite improving office conditions, Jarden highlights FY27 headwinds from positive FY26 one-offs rolling off the financial model and lower funds under management (FUM).
This report was published on February 19, 2026.
Target price is $7.55 Current Price is $6.57 Difference: $0.98
If DXS meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $7.40, suggesting upside of 12.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 37.00 cents and EPS of 64.00 cents.
At the last closing share price the estimated dividend yield is 5.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 62.8, implying annual growth of 389.1%.
Current consensus DPS estimate is 37.0, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 10.5.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 37.10 cents and EPS of 60.60 cents.
At the last closing share price the estimated dividend yield is 5.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 62.9, implying annual growth of 0.2%.
Current consensus DPS estimate is 37.2, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 10.4.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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