Australian Broker Call *Extra* Edition – Feb 26, 2026

Array
(
    [0] => Array
        (
            [0] => ((AIA))
            [1] => ((APA))
            [2] => ((AQZ))
            [3] => ((ASG))
            [4] => ((BLX))
            [5] => ((CHC))
            [6] => ((DOW))
            [7] => ((GMG))
            [8] => ((HUB))
            [9] => ((IGO))
            [10] => ((IMB))
            [11] => ((IPG))
            [12] => ((LOV))
            [13] => ((PEN))
            [14] => ((PNV))
            [15] => ((PRN))
            [16] => ((PRU))
            [17] => ((RFF))
            [18] => ((RMS))
            [19] => ((RRL))
            [20] => ((SNL))
        )

    [1] => Array
        (
            [0] => AIA
            [1] => APA
            [2] => AQZ
            [3] => ASG
            [4] => BLX
            [5] => CHC
            [6] => DOW
            [7] => GMG
            [8] => HUB
            [9] => IGO
            [10] => IMB
            [11] => IPG
            [12] => LOV
            [13] => PEN
            [14] => PNV
            [15] => PRN
            [16] => PRU
            [17] => RFF
            [18] => RMS
            [19] => RRL
            [20] => SNL
        )

)

This story features AUCKLAND INTERNATIONAL AIRPORT LIMITED, and other companies.
For more info SHARE ANALYSIS: AIA
The company is included in 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)

AIA   APA   AQZ   ASG   BLX   CHC   DOW   GMG   HUB   IGO   IMB   IPG   LOV   PEN   PNV   PRN   PRU   RFF   RMS   RRL   SNL  

AIA    AUCKLAND INTERNATIONAL AIRPORT LIMITED

Infrastructure & Utilities – Overnight Price: $7.57

Jarden rates ((AIA)) as Neutral (3) –

Jarden assesses a broadly in-line 1H26 result for Auckland International Airport, with in-line underlying profit of NZ$154.5m. The bottom end of FY26 profit guidance was raised by NZ$15m to NZ$295-NZ$320m.

Earnings (EBITDA) were stronger on higher car parking revenue, partly offset by softer retail income per passenger of NZ$9.76 versus NZ$10.16 in the prior year, explain the analysts. 

Passenger volumes are tracking at around 50% of full-year guidance, highlights the broker, with domestic at 8.6m and international at 10.6m.

Jarden notes no change to passenger guidance and sees earnings momentum into FY27–28. Neutral rating maintained. Target rises to NZ$8.14 from NZ$7.93. 

This report was published on February 19, 2026.

Current Price is $7.57. Target price not assessed.
Current consensus price target is $7.26, suggesting downside of -4.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.10 cents and EPS of 15.77 cents.
At the last closing share price the estimated dividend yield is 1.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.4, implying annual growth of N/A.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 49.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 12.99 cents and EPS of 18.73 cents.
At the last closing share price the estimated dividend yield is 1.72%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.1, implying annual growth of 4.5%.
Current consensus DPS estimate is 11.7, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 47.0.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

APA    APA GROUP

Infrastructure & Utilities – Overnight Price: $9.06

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

Jarden retains an Overweight rating on APA Group and lowers its target price to $9.40 from $9.50 following the interim result and commitment to East Coast Gas Grid expansion.

It’s felt the early expansion decision increases risk but provides a defensive benefit by reducing competitive threats from LNG imports. 

Underlying earnings (EBITDA) of $1,092m for the half were broadly in line with forecasts by the broker and consensus. Free cash flow (FCF) of $556m was also in line.

FY26 earnings guidance is unchanged at $2,120-2,200m, though management expects earnings to land above the midpoint. The three-year organic growth pipeline has expanded to -$3.0bn from -$2.1bn.

This report was published on February 19, 2026.

Target price is $9.40 Current Price is $9.06 Difference: $0.34
If APA meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $8.46, suggesting downside of -6.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 58.00 cents and EPS of 16.40 cents.
At the last closing share price the estimated dividend yield is 6.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.1, implying annual growth of 150.0%.
Current consensus DPS estimate is 58.0, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 47.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 59.00 cents and EPS of 20.10 cents.
At the last closing share price the estimated dividend yield is 6.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.0, implying annual growth of 30.9%.
Current consensus DPS estimate is 59.0, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 36.2.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AQZ    ALLIANCE AVIATION SERVICES LIMITED

Transportation & Logistics – Overnight Price: $0.70

Canaccord Genuity rates ((AQZ)) as Hold (3) –

Canaccord Genuity slashes its target price for Alliance Aviation Services to $0.81 from $1.49 and maintains a Hold rating following a disappointing 1H26 result.

Profit of $11.9m fell -58.8% on the prior year and missed the broker’s forecast, driven by lower earnings (EBITDA).

Operating cash flow (OCF) was -$5.8m and free cash flow (FCF) was -$24m, leaving debt facilities fully drawn and cash at $58m, highlight the analysts. The balance sheet is seen as precarious with execution risk around fleet revisions and asset sales.

FY26 profit guidance was cut to $35-$40m from $46-$50m, with margins pressured by unfavourable wet lease contracts and a loss in Aviation Services, explains the broker.

This report was published on February 23, 2026.

Target price is $0.81 Current Price is $0.70 Difference: $0.11
If AQZ meets the Canaccord Genuity target it will return approximately 16% (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 16.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.38.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 20.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.50.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ASG    AUTOSPORTS GROUP LIMITED

Automobiles & Components – Overnight Price: $3.13

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

Following a “mixed” interim result for Autosports Group, Jarden trims its target price to $4.05 from $4.20 and maintains an Overweight rating.

Adjusted profit of $34.3m was -1.1% below the broker’s forecast but slightly ahead of consensus. Revenue missed the analysts’ estimate by -3.7%, driven by weaker new vehicle sales, explain the analysts.

The gross margin increased by 110bps to 19.1% on improved inventory mix and higher-margin back-end revenue, Jarden notes.

January trading showed new vehicle orders up 13% year-on-year, with service and parts revenue up 11%, highlights the broker.

Management continues to highlight multiple growth avenues. These include expansion in the luxury segment, greenfield site rollouts (including EV brands), accretive M&A, and ongoing improvement in profit margins, explain the analysts.

This report was published on February 20, 2026.

Target price is $4.05 Current Price is $3.13 Difference: $0.92
If ASG meets the Jarden target it will return approximately 29% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 10.80 cents and EPS of 24.80 cents.
At the last closing share price the estimated dividend yield is 3.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.62.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 13.40 cents and EPS of 30.50 cents.
At the last closing share price the estimated dividend yield is 4.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.26.

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

BLX    BEACON LIGHTING GROUP LIMITED

Furniture & Renovation – Overnight Price: $2.05

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

Jarden retains an Overweight rating on Beacon Lighting and cuts its target price to $3.20 from $3.40 following a softer-than-expected 1H26 result.

Sales were around -3% below the broker’s forecast, with Retail moderating into H2 while Trade sales rose 12.6% year-on-year and continue to gain share.

The gross margin fell -20bps year-on-year, reflecting a higher trade mix, though the broker expects margins to hold near term.

Jarden still expects a 16% EPS compound average growth rate (CAGR) over FY26-FY29, citing trade momentum and longer-term housing leverage.

This report was published on February 19, 2026.

Target price is $3.20 Current Price is $2.05 Difference: $1.15
If BLX meets the Jarden target it will return approximately 56% (excluding dividends, fees and charges).
Current consensus price target is $3.00, suggesting upside of 46.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.00 cents and EPS of 12.40 cents.
At the last closing share price the estimated dividend yield is 3.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.2, implying annual growth of 2.2%.
Current consensus DPS estimate is 7.8, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 15.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 8.30 cents and EPS of 15.40 cents.
At the last closing share price the estimated dividend yield is 4.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.0, implying annual growth of 13.6%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 13.7.

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

CHC    CHARTER HALL GROUP

REITs – Overnight Price: $21.47

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

Jarden highlights a strong 1H26 result for Charter Hall, with operating EPS of 50.4c, a rise of 21.6% year-on-year, beating the consensus estimate by 4.1%.

Management upgraded FY26 EPS guidance to 100c from 95c on higher gross transaction activity of $9.8bn and property funds under management (FUM) growth to $71.7bn.

The broker expects annualised funds management fee growth of around 19.8% in FY27 and highlights balance sheet flexibility, with gearing at 7.7% helping support further acquisition activity.

The analysts believe transaction momentum remains sound despite global rate volatility. Overweight maintained. Target rises to $28.30 from $27.60.

This report was published on February 20, 2026.

Target price is $28.30 Current Price is $21.47 Difference: $6.83
If CHC meets the Jarden target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $25.82, suggesting upside of 20.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 50.70 cents and EPS of 105.10 cents.
At the last closing share price the estimated dividend yield is 2.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 101.1, implying annual growth of 111.8%.
Current consensus DPS estimate is 50.5, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 21.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 53.70 cents and EPS of 117.00 cents.
At the last closing share price the estimated dividend yield is 2.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 112.9, implying annual growth of 11.7%.
Current consensus DPS estimate is 53.5, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 19.0.

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

DOW    DOWNER EDI LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $8.51

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

Canaccord Genuity reiterates a Buy rating on Downer EDI and raises its target price to $8.65 from $8.58 after a positive 1H26 result.

Revenue fell -11% on the prior year to $4,919m, while the underlying earnings (EBITA) margin improved to 4.6% from 3.7%. Profit of $136m beat the broker’s expectation on lower net interest.

The interim dividend of 12.9c was ahead of forecasts given strong cash conversion of 90.5% and net debt falling to $242m from $259m at the end of FY25.

FY26 profit (NPATA) guidance of $295-$315m was introduced and broader guidance reiterated. 

This report was published on February 23, 2026.

Target price is $8.65 Current Price is $8.51 Difference: $0.14
If DOW meets the Canaccord Genuity target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $8.52, suggesting upside of 0.1%(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 42.00 cents.
At the last closing share price the estimated dividend yield is 3.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 44.5, implying annual growth of 118.4%.
Current consensus DPS estimate is 29.2, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 19.1.

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 3.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 47.6, implying annual growth of 7.0%.
Current consensus DPS estimate is 31.8, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 17.9.

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

GMG    GOODMAN GROUP

Infra & Property Developers – Overnight Price: $28.42

Jarden rates ((GMG)) as Buy (1) –

Jarden highlights interim operating EPS for Goodman Group beat forecasts by the broker and consensus by 4% and 8%, respectively. This outperformance is attributed to higher development earnings, lower corporate costs and lower interest and tax.

Property investment and management fees were below the analysts’ forecasts. Performance fees fell to $79m from $258m in the prior year.

FY26 guidance for 9% operating EPS growth is unchanged. The analysts see data centre leasing and development returns as key focus areas.

2026 is expected to be catalyst-rich across leasing and capital partnerships, though the broker notes downside risk from delays in data centre construction or tenant signings.

Jarden lowers its target price to $36.80 from $40.00. Buy maintained.

This report was published on February 20, 2026.

Target price is $36.80 Current Price is $28.42 Difference: $8.38
If GMG meets the Jarden target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $36.35, suggesting upside of 27.9%(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 129.80 cents.
At the last closing share price the estimated dividend yield is 1.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 129.5, implying annual growth of 51.6%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 21.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 30.00 cents and EPS of 146.00 cents.
At the last closing share price the estimated dividend yield is 1.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 143.2, implying annual growth of 10.6%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 19.8.

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

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $95.40

Jarden rates ((HUB)) as Buy (1) –

Jarden describes a standout 1H26 result for Hub24. Revenue margins were stronger than expected and the earnings (EBITDA) margin beat the broker’s forecast by 120bps on operating leverage.

The group underlying earnings margin expanded by 290bps to 42.7% despite elevated investment, explain the analysts.

The broker notes FY27 funds under administration (FUM) guidance was upgraded by 6.5% at the midpoint and highlights the platform’s scalability.

The analysts expect revenue margin strength to moderate in H2 but see continued margin expansion from scale benefits.

Jarden retains a Buy rating on Hub24 and lifts its target price to $129.70 from $127.50

This report was published on February 19, 2026.

Target price is $129.70 Current Price is $95.40 Difference: $34.3
If HUB meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $111.89, suggesting upside of 17.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 75.70 cents and EPS of 166.40 cents.
At the last closing share price the estimated dividend yield is 0.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 57.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 163.4, implying annual growth of 66.5%.
Current consensus DPS estimate is 77.9, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 58.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 87.90 cents and EPS of 192.80 cents.
At the last closing share price the estimated dividend yield is 0.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 49.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 194.6, implying annual growth of 19.1%.
Current consensus DPS estimate is 96.4, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 49.0.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IGO    IGO LIMITED

Nickel – Overnight Price: $8.72

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

IGO Ltd’s interim earnings (EBITDA) of $49m were pre-reported. Profit of -$39m missed Canaccord Genuity’s forecast of -$11m but was broadly in line with consensus at -$31m.

Greenbushes resources rose 17Mt to 457Mt, and the broker notes optimisation reduced the life-of-mine (LOM) strip ratio by -30%. The strip ratio measures how much waste material must be removed to access a tonne of ore.

On the flipside, the analyst notes recoveries of 57-74% sit below industry standards.

Chemical Grade Plant 3 commissioning at at Greenbushes underperformed in January but improved in February, notes the broker. Nameplate capacity is assumed by the June quarter this year.

Canaccord re-iterates a Buy rating on IGO Ltd and lowers its target price to $9.60 from $9.80.

This report was published on February 23, 2026.

Target price is $9.60 Current Price is $8.72 Difference: $0.88
If IGO meets the Canaccord Genuity target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $8.85, suggesting upside of 1.5%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 16.0, implying annual growth of N/A.
Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.0%.
Current consensus EPS estimate suggests the PER is 54.5.

Forecast for FY27:

Current consensus EPS estimate is 95.3, implying annual growth of 495.6%.
Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 9.2.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IMB    INTELLIGENT MONITORING GROUP LIMITED

Commercial Services & Supplies – Overnight Price: $0.56

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

Intelligent Monitoring’s 1H26 earnings (EBITDA) of $19m rose 21% on the prior year but missed Canaccord Genuity’s forecast of $23m and consensus at $22m, reflecting a temporary slowdown in New Zealand.

New Zealand earnings fell -47% to $2.9m due to delayed commercial work, though the broker notes January run-rate earnings recovered to $5m on a six-month basis.

FY26 earnings guidance of $43-$47m was reiterated.

Operating cash flow (OCF) improved to $7.4m from $0.5m in Q1, and free cash flow (FCF) turned positive at $1.4m.

Completion of the material earnings-accretive acquisition Bluesky has been delayed to May 2026.

Canaccord lowers its target price to $1.05 from $1.10 and maintains a Buy rating.

This report was published on February 25, 2026.

Target price is $1.05 Current Price is $0.56 Difference: $0.495
If IMB meets the Canaccord Genuity target it will return approximately 89% (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 5.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.10.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.94.

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

IPG    IPD GROUP LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $5.01

Moelis rates ((IPG)) as Buy (1) –

IPD Group delivered a return to organic growth at the top line in the first half and in the year to date trading is showing positive momentum, Moelis observes.

No quantitative guidance for FY26 was provided. A contribution is still to come from the recently acquired Platinum Cables business.

Estimates for FY26-28 EPS are upgraded slightly and a Buy rating is retained. The broker notes the undemanding 14.4x FY27 PE. Target rises to $5.22.

This report was published on February 24, 2026.

Target price is $5.22 Current Price is $5.01 Difference: $0.21
If IPG meets the Moelis target it will return approximately 4% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 14.30 cents and EPS of 29.20 cents.
At the last closing share price the estimated dividend yield is 2.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.16.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 16.10 cents and EPS of 32.30 cents.
At the last closing share price the estimated dividend yield is 3.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.51.

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

LOV    LOVISA HOLDINGS LIMITED

Retailing – Overnight Price: $25.09

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

Jarden cuts its target price for Lovisa Holdings to $30.00 from $40.90 following a “mixed” 1H26 result. Overweight rating maintained.

Headline profit came in around -14% below consensus, though the comparison is distorted by Jewells’ losses of around -$11m, explain the analysts.

Earnings (EBITDA) ex-Jewells still grew around 20% year-on-year, points out the broker. Like-for-like sales rose 2% in 1H26 and 1.6% in early 2H26, below the analysts’ expectations.

A&NZ sales per store fell around -8% year-on-year, which is seen as concerning amid rising competition.

The gross margin of 82.9% was ahead of consensus and is viewed as sustainable, with sourcing tailwinds partly offset by FX headwinds.

This report was published on February 19, 2026.

Target price is $30.00 Current Price is $25.09 Difference: $4.91
If LOV meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $32.14, suggesting upside of 28.1%(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 92.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 85.0, implying annual growth of 8.8%.
Current consensus DPS estimate is 76.5, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 29.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 108.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.5, implying annual growth of 25.3%.
Current consensus DPS estimate is 96.6, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 23.6.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PEN    PENINSULA ENERGY LIMITED

Uranium – Overnight Price: $0.77

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

One well in Peninsula Energy’s MU-4 has achieved a peak uranium grade of 352mg/l and other wells are trending to over 100mg/l. It remains early days but this is an extraordinarily encouraging start from MU4, Canaccord Genuity suggests.

Peninsula has reaffirmed it remains on track to meet production guidance for 2026. While the broker remains cautious, elevated grades and flow rates lend themselves to a potential beat.

The company has acknowledged the precipitation circuits are temporarily offline and are expected to take 6-8 weeks to resume operation due to faulty installation by the contractor.

The rectification costs are a warranty claim under the contract and the contractor is working with the company to resolve the issue as expeditiously as possible. Canaccord retains Buy and a $1.53 target.

This report was published on February 20, 2026.

Target price is $1.53 Current Price is $0.77 Difference: $0.76
If PEN meets the Canaccord Genuity target it will return approximately 99% (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

PNV    POLYNOVO LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.94

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

Interim revenue for PolyNovo of $70.2m rose 18% on the prior year but missed Canaccord Genuity’s forecast by -6%.

Earnings (EBITDA) of $4.7m was less than half the broker’s $9.5m estimate, reflecting weaker top-line growth and a temporary gross margin aberration.

The analysts highlight US sales grew 25% in constant currency, with the flagship product Biodegradable Temporising Matrix (BTM) up 15.5% and the Novosorb Matrix (MTX) up 193%. It’s felt he current valuation at 3.8x CY26 EV/sales undervalues the Novosorb platform.

Operating cash flow (OCF) was $9.0m, leaving net cash of $25.5m.

The broker’s FY26 revenue forecasts are cut by -5.3% and FY26-27 earnings estimates reduced by -20-30%, largely on FX impacts. 

Canaccord reiterates a Buy rating on PolyNovo and lowers its target price to $1.58 from $1.62.

This report was published on February 23, 2026.

Target price is $1.58 Current Price is $0.94 Difference: $0.64
If PNV meets the Canaccord Genuity target it will return approximately 68% (excluding dividends, fees and charges).
Current consensus price target is $1.79, suggesting upside of 90.8%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 1.0, implying annual growth of -47.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 94.0.

Forecast for FY27:

Current consensus EPS estimate is 3.3, implying annual growth of 230.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 28.5.

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

PRN    PERENTI LIMITED

Mining Sector Contracting – Overnight Price: $2.46

Moelis rates ((PRN)) as Buy (1) –

In the wake of the first half results from Perenti, Moelis revises estimates for EPS down by -6% for FY26 and FY27 by -5%. This is driven by reduced interest from a deleveraging balance sheet offset by a re-based top line.

While the company has narrowed FY26 guidance, management expects increased demand in drilling services, as well as rate adjustments in contract mining, will breach the skew to the second half.

Buy. Target is revised up to $2.74 from $1.30.

This report was published on February 24, 2026.

Target price is $2.74 Current Price is $2.46 Difference: $0.28
If PRN meets the Moelis target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $2.83, suggesting upside of 15.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 7.50 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 3.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.2, implying annual growth of 64.1%.
Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 11.6.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 7.50 cents and EPS of 19.60 cents.
At the last closing share price the estimated dividend yield is 3.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.6, implying annual growth of 6.6%.
Current consensus DPS estimate is 7.9, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 10.9.

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

PRU    PERSEUS MINING LIMITED

Gold & Silver – Overnight Price: $6.05

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

Canaccord Genuity reiterates a Buy rating on Perseus Mining and raises its target price to $8.10 from $7.70 following 1H FY26 results and a Nyanzaga reserve upgrade.

Earnings (EBITDA) of US$315m beat consensus at US$303m but missed the broker’s forecast of US$331m. Profit of US$186m exceeded consensus and a 5c interim dividend was ahead of expectations.

FY26 production guidance was unchanged at 400-440koz at US$1,600-1,760/oz costs (AISC), versus the broker at 418koz and consensus at 412koz.

Nyanzaga reserves rose 73% to 4Moz, extending mine life to 16 years, lifting the analysts’ net present value (NPV) measure by 27% to US$3.35bn. 

This report was published on February 23, 2026.

Target price is $8.10 Current Price is $6.05 Difference: $2.05
If PRU meets the Canaccord Genuity target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $6.69, suggesting upside of 10.5%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 51.6, implying annual growth of N/A.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 11.7.

Forecast for FY27:

Current consensus EPS estimate is 60.6, implying annual growth of 17.4%.
Current consensus DPS estimate is 15.9, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 10.0.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

RFF    RURAL FUNDS GROUP

REITs – Overnight Price: $2.10

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

Rural Funds’ interim result missed Canaccord Genuity’s forecasts for other income and net farm income specifically. These misses are both considered a timing issue that will resolve in the 2H.

Net property income (NPI) rose 7% on the prior year, in line with the broker and ahead of consensus. Funds from operations (FFO) of 5.87cpu was flat on the prior year and adjusted FFO fell -4%, missing the analysts’ forecast by -9%.

FY26 guidance for FFO of 11.70cpu and a distribution of 11.73cpu was reiterated. The broker expects portfolio initiatives and asset sales to lift earnings and reduce gearing from 39% towards its 30-35% target range.

Canaccord re-iterates a Buy rating on Rural Funds and raises its target price to $2.46 from $2.43.

This report was published on February 23, 2026.

Target price is $2.46 Current Price is $2.10 Difference: $0.36
If RFF meets the Canaccord Genuity target it will return approximately 17% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 12.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.50.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 12.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.50.

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

RMS    RAMELIUS RESOURCES LIMITED

Gold & Silver – Overnight Price: $4.76

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

Canaccord Genuity assesses a strong 1H FY26 result for Ramelius Resources. Earnings (EBITDA) of $348m (72% margin) beat the broker’s $297m forecast and consensus at $293m on lower operating costs.

Profit of $160m also exceeded Canaccord’s expectation. The fully franked 3c interim dividend came in ahead of consensus.

Cash and bullion totalled $694m with no debt. FY26 guidance was unchanged at 185-205koz at $1,700-1,900/oz costs (AISC).

Canaccord re-iterates a Buy rating on Ramelius Resources with an unchanged $6.05 target price.

This report was published on February 23, 2026.

Target price is $6.05 Current Price is $4.76 Difference: $1.29
If RMS meets the Canaccord Genuity target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $5.48, suggesting upside of 15.1%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 18.3, implying annual growth of -55.5%.
Current consensus DPS estimate is 3.5, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 26.0.

Forecast for FY27:

Current consensus EPS estimate is 29.5, implying annual growth of 61.2%.
Current consensus DPS estimate is 5.1, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 16.1.

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

RRL    REGIS RESOURCES LIMITED

Gold & Silver – Overnight Price: $9.42

Canaccord Genuity rates ((RRL)) as Hold (3) –

Canaccord Genuity raises its target price for Regis Resources to $8.15 from $7.35 to reflect stronger forecast free cash flow (FCF) yields. The broker’s financial forecasts are otherwise largely unchanged. The Hold rating is maintained.

Earnings (EBITDA) of $621m (57% margin) were in line with the broker and consensus, rising 73% on the prior year, while profit of $323m also met expectation.

FY26 production guidance was reiterated at 350-380koz at $2,610-2,990/oz costs (AISC). 

A fully franked 15c interim dividend exceeded the broker’s 7c forecast.

Cash and gold totalled $930m with no debt.

This report was published on February 23, 2026.

Target price is $8.15 Current Price is $9.42 Difference: minus $1.27 (current price is over target).
If RRL meets the Canaccord Genuity target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $8.68, suggesting downside of -7.9%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 101.6, implying annual growth of 201.8%.
Current consensus DPS estimate is 32.0, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 9.3.

Forecast for FY27:

Current consensus EPS estimate is 123.9, implying annual growth of 21.9%.
Current consensus DPS estimate is 33.4, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 7.6.

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

SNL    SUPPLY NETWORK LIMITED

Automobiles & Components – Overnight Price: $35.20

Moelis rates ((SNL)) as Buy (1) –

Supply Network delivered a first half result that was in line and confirmed the preliminary release in January. Moelis marginally upgrades estimates across FY26-28 factoring in network expansions.

Reduced interest expense from the repayment of debt is offset by tempering the ramp profile of margin expansion, the broker adds.

The risk/return is considered favourable at current PE multiples of 31x FY26 and the EPS compound growth rate of around 20% across FY26-28. Target is reduced to $41.80 from $42.90.  Buy maintained.

This report was published on February 24, 2026.

Target price is $41.80 Current Price is $35.20 Difference: $6.6
If SNL meets the Moelis target it will return approximately 19% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 80.20 cents and EPS of 107.80 cents.
At the last closing share price the estimated dividend yield is 2.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.65.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 96.70 cents and EPS of 128.00 cents.
At the last closing share price the estimated dividend yield is 2.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.50.

Market Sentiment: 1.0
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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