Daily Market Reports | Mar 02 2026
This story features AMAERO LIMITED, and other companies.
For more info SHARE ANALYSIS: 3DA
The company is included in ALL-ORDS
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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)
3DA BGL BRE GDI GGP GNP HRZ NXL PDN PNR PPS SFR SUN TLS UNI WES
3DA AMAERO LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $0.25
Research as a Service (RaaS) rates ((3DA)) as No Rating (-1) –
Research as a Service (RaaS) has reviewed the first half accounts from Amaero, adjusting FY26 and FY27 forecasts to reflect the recent appreciation in the Australian dollar.
This results in a -4% reduction to FY26 revenue forecasts and -7% for FY27. Valuation is now $0.72 compared with $0.78 previously.
The company envisages re-domiciling in the US will position its shareholders for benefits from continued growth in the US defence industrial base, while maintaining a listing on the ASX and in turn provide access to a broader US investor pool.
Research as a Service (RaaS) research standard doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on February 25, 2026.
Target price is $0.72 Current Price is $0.25 Difference: $0.47
If 3DA meets the Research as a Service (RaaS) target it will return approximately 188% (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 2.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.62.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 14.71.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BGL BELLEVUE GOLD LIMITED
Gold & Silver – Overnight Price: $1.82
Moelis rates ((BGL)) as Buy (1) –
Bellevue Gold’s 1H26 result was broadly in line operationally, with earnings (EBITDA) modestly ahead of Moelis, aided by lease reclassification, while adjusted net profit of $2.5m reflected higher depreciation and amortisation.
Revenue was slightly below expectations and AISC of $3,133/oz was broadly as flagged, with no unusual treatment of accelerated hedges.
The broker incorporates higher D&A and lifts FY26 growth capex to -$105-115m to include construction of the paste plant, moderating near term cash flow and reducing asset level net present value by around -5%.
FY26-28 EPS forecasts are tweaked with FY26 moving to a small loss and outer year earnings trimmed on updated assumptions. Buy retained with a reduced target price to $2.20 from $2.25
This report was published on February 23, 2026.
Target price is $2.20 Current Price is $1.82 Difference: $0.375
If BGL meets the Moelis target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $2.20, suggesting upside of 20.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.00 cents.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.0, 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 14.1.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 9.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.6, implying annual growth of 58.5%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 8.9.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BRE BRAZILIAN RARE EARTHS LIMITED
Rare Earth Minerals – Overnight Price: $5.36
Canaccord Genuity rates ((BRE)) as Speculative Buy (1) –
Canaccord Genuity notes strong drilling at Monte Alto, including intercepts up to 27.6m at 19.4% TREO and 23.9m at 17.4% TREO with peak grades of 35% TREO, supports growing resource expectations for Brazilian Rare Earths.
Commentary highlights infill and extensional drilling confirm continuity and extend strike to over 1.2km, with over 32,000m drilled at average grades above 14% TREO, while mineralisation remains open in multiple directions.
The broker expects market expectations for the maiden MRE in mid 2026 to lift, noting its prior 7Mt estimate and highlighting upside to mine life, uranium co-products and downstream support via the Carester partnership, with a Scoping Study also due mid 2026.
Speculative Buy rating and $8 target retained.
This report was published on February 20, 2026.
Target price is $8.00 Current Price is $5.36 Difference: $2.64
If BRE meets the Canaccord Genuity target it will return approximately 49% (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
GDI GDI PROPERTY GROUP
REITs – Overnight Price: $0.63
Moelis rates ((GDI)) as Buy (1) –
GDI Property Group delivered solid 1H26 earnings, with funds from operations up 29% y/y as leasing momentum across Westralia Square, 197 St Georges Terrace and WS2 drove 14% y/y office net operating income growth.
Moelis notes FY26 net profit after tax forecasts are raised by 9.8% on stronger leasing outcomes and a new mining camp acquisition, partly offset by higher floating interest rate assumptions.
Office vacancy has reduced to 11%, excluding 1 Mill Street, with limited near-term lease expiry and no new Perth CBD supply expected before 2030, supporting the medium-term rent outlook, commentary highlights.
FY26 DPS guidance of 5.0c implies an around 8% yield and a payout ratio of around 63% of FFO, with the stock trading at a material discount to NTA. Buy retained with a higher target price to $0.96 from $0.94
This report was published on February 23, 2026.
Target price is $0.96 Current Price is $0.63 Difference: $0.33
If GDI meets the Moelis target it will return approximately 52% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 5.00 cents and EPS of 7.90 cents.
At the last closing share price the estimated dividend yield is 7.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.97.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 5.50 cents and EPS of 8.30 cents.
At the last closing share price the estimated dividend yield is 8.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.59.
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: $13.81
Moelis rates ((GGP)) as Downgrade to Sell from Hold (5) –
Greatland Resources’ 1H26 result was slightly ahead of Moelis’ estimates, with stronger costs offset by higher tax. The broker moderates outer year production and lifts capex and exploration to reflect lower grades and extension requirements at Telfer.
FY26-28 net profit after tax forecasts are cut by -6%, -4% and -15% respectively, as softer 2H production and rising costs temper what is described as a strong first half.
Moelis remains constructive on the long-term outlook for Telfer and Havieron, but argues the valuation already captures this optionality, even under a spot gold scenario.
The price target is reduced to $10.10 from $11.30 on revised assumptions and the stock is downgraded to Sell from Hold.
This report was published on February 24, 2026.
Target price is $10.10 Current Price is $13.81 Difference: minus $3.71 (current price is over target).
If GGP meets the Moelis target it will return approximately minus 27% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.90, suggesting upside of 15.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 102.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 100.7, implying annual growth of 58.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 13.7.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 98.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 64.2, implying annual growth of -36.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 21.5.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GNP GENUSPLUS GROUP LIMITED
Infrastructure & Utilities – Overnight Price: $7.80
Moelis rates ((GNP)) as Buy (1) –
GenusPlus Group delivered a strong 1H26 result, with NPATA beating consensus by 17% and management reaffirming upgraded FY26 guidance for around 35% EBITDA growth, implying $91m for the year, Moelis explains.
Normalised earnings (EBITDA) rose 69% y/y and underlying NPATA increased 77%. The cash balance lifted to $178m and a maiden fully franked 2c interim dividend was declared.
The order book expanded to $2.4bn and recurring revenue is expected to reach $375m in FY26, up around 20% on FY25, supporting improved earnings visibility.
EPS forecasts for FY26-28 are tweaked higher, highlighting margin improvement across Energy & Engineering and Services, alongside strong Infrastructure growth.
Buy retained with a higher target price to $8.88 from $7.90,
This report was published on February 24, 2026.
Target price is $8.88 Current Price is $7.80 Difference: $1.08
If GNP meets the Moelis target it will return approximately 14% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 6.30 cents and EPS of 26.50 cents.
At the last closing share price the estimated dividend yield is 0.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.43.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 6.90 cents and EPS of 27.60 cents.
At the last closing share price the estimated dividend yield is 0.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.26.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
HRZ HORIZON MINERALS LIMITED
Gold & Silver – Overnight Price: $1.14
Research as a Service (RaaS) rates ((HRZ)) as No Rating (-1) –
Horizon Minerals has released the study into the refurbishment of Black Swan, demonstrating the plant can process at a throughput rate of 2.2mtpa.
Research as a Service (RaaS) assesses it demonstrates a profitable mining operation that can produce 546,000 ounces over five years. The company has also raised equity of $175m to provide funding to execute its development plan.
Research as a Service (RaaS) expects the business will become a significant stand-alone gold producer with a production expected to start in late FY27. Adjustments to modelling have resulted in a decrease in valuatiion to $2.988 a share from $3.62.
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 25, 2026.
Target price is $2.99 Current Price is $1.14 Difference: $1.853
If HRZ meets the Research as a Service (RaaS) target it will return approximately 163% (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 1.26 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 90.08.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of 7.76 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.63.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NXL NUIX LIMITED
Software & Services – Overnight Price: $1.92
Moelis rates ((NXL)) as Buy (1) –
Nuix’s 1H26 result highlighted solid new customer wins and annualised contract value growth, with new clients contributing $6.26m, although net dollar retention of 101% reflected down selling on renewals, according to Moelis.
Statutory revenue was supported by a higher mix of multi-year deals at 33% of revenue, which can flatter reported growth and margins, while churn moderated to 5.9%.
Management retained FY26 annualised contract value guidance of $240m–$260m, implying modest 2H26 growth is required to reach the lower end, with momentum in Nuix Neo migrations and product enhancements supporting the outlook.
Buy rating retained. Target $3.10.
This report was published on February 24, 2026.
Target price is $3.10 Current Price is $1.92 Difference: $1.185
If NXL meets the Moelis target it will return approximately 62% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.58.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 7.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.23.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PDN PALADIN ENERGY LIMITED
Uranium – Overnight Price: $13.39
Canaccord Genuity rates ((PDN)) as Buy (1) –
State approval of the Environmental Impact Statement for Patterson Lake South clears a key regulatory hurdle for Paladin Energy, enabling progress toward provincial and federal permits and supporting its construction licence application to the Canadian Nuclear Safety Commission.
The Triple R deposit hosts 130.3Mlb of U3O8 at 1.84% grade, with planned output of 9.1Mlbpa and life of mine AISC of US$15.2/lb positioning Paladin as a potential tier one asset within the global cost curve, Canaccord Genuity notes.
Updated project economics outline first production in 2031, pre-production capex of -US$1,226m and a post tax NPV (8%) of US$1,325m at US$90/lb, with a 28.2% internal rate of return and average annual free cash flow of US$430m.
Buy rated. Target $16.
This report was published on February 20, 2026.
Target price is $16.00 Current Price is $13.39 Difference: $2.61
If PDN meets the Canaccord Genuity target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $13.18, suggesting downside of -1.6%(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 2.62 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 510.29.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.5, 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 127.5.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 35.46 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 50.9, implying annual growth of 384.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 26.3.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PNR PANTORO GOLD LIMITED
Gold & Silver – Overnight Price: $5.75
Moelis rates ((PNR)) as Hold (3) –
Moelis notes Pantoro Gold has announced plans to commence an on market buyback of up to 10%, or 38.3m, of issued capital.
The balance sheet remains strong at $189.4m cash and the analyst forecasts a further circa $250m could be generated over 2026, rising to around $330m at current spot prices.
With a target of $6.05/share, the broker argues buybacks below this level would be accretive, while a spot-based pro forma valuation of $8.00/share implies material upside if gold prices are sustained.
The stock has underperformed peers in recent months, which Moelis attributes partly to a softer 2Q result and guidance uncertainty. The broker expects a positive market reaction but questions how aggressively management will execute the buyback.
Hold rating and $6.05 target retained.
This report was published on February 23, 2026.
Target price is $6.05 Current Price is $5.75 Difference: $0.3
If PNR meets the Moelis target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $6.40, suggesting upside of 11.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 51.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 78.0, implying annual growth of 427.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.4.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 56.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.23.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 84.6, implying annual growth of 8.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 6.8.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PPS PRAEMIUM LIMITED
Wealth Management & Investments – Overnight Price: $0.77
Moelis rates ((PPS)) as Buy (1) –
Praemium’s 1H26 result was broadly in line at the EBITDA level, with underlying NPAT beating Moelis by 5.5%, as restructuring benefits began to support margin expansion.
Operating revenue rose 5.3% pcp, and underlying EBITDA increased 17.9%, while platform margins held around 28bps and Spectrum margins compressed to circa 25bps due to early adopter balances.
EPS forecasts are amended by -3.6% for FY26 and 14.9%/17.2% for FY27/FY28, reflecting Technotia shares issued, modest margin changes and $9m p.a. restructuring savings from FY27.
Moelis expects stronger net flow momentum into 2H and FY27. Buy retained. Target rises to $1.17 from $1.07.
This report was published on February 23, 2026.
Target price is $1.17 Current Price is $0.77 Difference: $0.405
If PPS meets the Moelis target it will return approximately 53% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 2.50 cents and EPS of 3.50 cents.
At the last closing share price the estimated dividend yield is 3.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.86.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 3.40 cents and EPS of 5.50 cents.
At the last closing share price the estimated dividend yield is 4.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.91.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SFR SANDFIRE RESOURCES LIMITED
Copper – Overnight Price: $20.19
Jarden rates ((SFR)) as Underweight (4) –
Sandfire Resources produced a first half result that was in line, Jarden noting it was de-risked through quarterly reporting disclosures.
The broker modestly lifts forecasts for copper and silver. With significant production of the latter, the broker asks whether the business could realise more than US$2bn from streaming, locking in elevated silver prices.
The company’s production of more than 5m ounces per annum of silver is a significant byproduct from both Matsa and Motheo and is often overlooked. In contrast, the broker points to an elevated spot copper price that is at risk of retracement.
Jarden retains an Underweight rating, awaiting a more attractive entry point. Target is raised to $15.00 from $14.70.
This report was published on February 20, 2026.
Target price is $15.00 Current Price is $20.19 Difference: minus $5.19 (current price is over target).
If SFR meets the Jarden target it will return approximately minus 26% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $19.18, suggesting downside of -5.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 15.26 cents and EPS of 120.54 cents.
At the last closing share price the estimated dividend yield is 0.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 102.1, implying annual growth of N/A.
Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 19.8.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 61.03 cents and EPS of 155.02 cents.
At the last closing share price the estimated dividend yield is 3.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 147.2, implying annual growth of 44.2%.
Current consensus DPS estimate is 40.6, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 13.7.
This company reports in USD. 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
SUN SUNCORP GROUP LIMITED
Insurance – Overnight Price: $14.63
Jarden rates ((SUN)) as Upgrade to Overweight from Neutral (2) –
First half cash net profit from Suncorp Group was below expectations amid lower gross written premium growth, albeit costs were lower, and Jarden expects gross written premium growth of 3.6% in FY26.
The required acceleration in the second half appears achievable to the broker, underpinned by bank CTP filings and motor repricing.
The June 2027 renewal will provide an opportunity for further reinsurance optimisation, including aggregate cover, while the increase to the existing $400m buyback is considered potentially attractive in a moderating premium environment and de-rating.
Rating is upgraded to Overweight from Neutral and the target lifted to $18.60 from $18.40.
This report was published on February 19, 2026.
Target price is $18.60 Current Price is $14.63 Difference: $3.97
If SUN meets the Jarden target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $18.65, suggesting upside of 27.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 59.00 cents and EPS of 84.00 cents.
At the last closing share price the estimated dividend yield is 4.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 89.3, implying annual growth of -36.3%.
Current consensus DPS estimate is 66.5, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 16.4.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 83.00 cents and EPS of 119.40 cents.
At the last closing share price the estimated dividend yield is 5.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 119.3, implying annual growth of 33.6%.
Current consensus DPS estimate is 87.1, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.3.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
TLS TELSTRA GROUP LIMITED
Telecommunication – Overnight Price: $5.18
Jarden rates ((TLS)) as Neutral (3) –
Telstra delivered a 1H26 result that was, at a headline, in line, but materially above on cash metrics (partly timing) and capital returns, Jarden notes.
The positive share price response is, in Jarden’s view, a clear signal that the market is willing to pay a premium for a defensive compounder that consistently demonstrates it can generate positive operating leverage with a now established and growing capital return program.
The cost efficiency lever is now a second, dependable earnings driver alongside mobile. That said, at current levels, the broker believes these positives are reflected in the price, therefore Neutral retained. Target rises to $4.95 from $4.80.
This report was published on February 26, 2026.
Target price is $4.95 Current Price is $5.18 Difference: minus $0.23 (current price is over target).
If TLS meets the Jarden target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.31, suggesting upside of 2.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 21.00 cents and EPS of 20.30 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 25.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.7, implying annual growth of 9.8%.
Current consensus DPS estimate is 20.8, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 25.0.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 23.00 cents and EPS of 21.30 cents.
At the last closing share price the estimated dividend yield is 4.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.1, implying annual growth of 6.8%.
Current consensus DPS estimate is 21.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 23.4.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
UNI UNIVERSAL STORE HOLDINGS LIMITED
Apparel & Footwear – Overnight Price: $9.40
Jarden rates ((UNI)) as Downgrade to Overweight from Buy (2) –
Universal Store’s 1H26 result was hard to fault, Jarden suggests. Profit was 7% ahead of consensus, with cashflow strong.
The standout, according to the broker, was the Jan/Feb sales growth of 7% (cycling 24% a year ago) and 1H26 gross margins, reflecting execution and continued market share gains.
While extrapolating these trends suggests large upgrades to FY26 consensus, Jarden thinks Universal Store will continue to reinvest, while conservatism on like-for-like sales is also considered prudent this early in the half.
Given potential for ‘stronger for longer’ sales growth, store rollout potential, optionality in Thrills Retail and net cash, the broker still sees relative upside, but downgrades to Overweight from Buy. Target falls to $10.00 from $10.69.
This report was published on February 26, 2026.
Target price is $10.00 Current Price is $9.40 Difference: $0.6
If UNI meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $10.61, suggesting upside of 12.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 43.00 cents and EPS of 51.80 cents.
At the last closing share price the estimated dividend yield is 4.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 51.9, implying annual growth of 70.9%.
Current consensus DPS estimate is 40.4, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 18.1.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 48.20 cents and EPS of 57.40 cents.
At the last closing share price the estimated dividend yield is 5.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.38.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 57.8, implying annual growth of 11.4%.
Current consensus DPS estimate is 46.4, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 16.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WES WESFARMERS LIMITED
Consumer Products & Services – Overnight Price: $79.62
Jarden rates ((WES)) as Underweight (4) –
Wesfarmers’ 1H26 result came with expectations, Jarden notes, and while earnings beat by 3%, it was a lower quality beat (lithium), with Q2 trends on balance softer.
Some questions remain over the top-line outlook into 2026, especially as to whether Bunnings and Kmart are maturing businesses.
Jarden retains Underweight, largely on valuation grounds, with expectations high, competition increasing and given lithium / Officeworks execution risks.
The broker remains positive on Wesfarmers’ strategy, management and opportunity, but sees better value elsewhere in the sector.
Target rises to $77.30 from $70.50.
This report was published on February 26, 2026.
Target price is $77.30 Current Price is $79.62 Difference: minus $2.32 (current price is over target).
If WES meets the Jarden target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $86.87, suggesting upside of 9.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 223.00 cents and EPS of 256.00 cents.
At the last closing share price the estimated dividend yield is 2.80%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 249.8, implying annual growth of -3.2%.
Current consensus DPS estimate is 249.5, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 31.9.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 249.00 cents and EPS of 284.00 cents.
At the last closing share price the estimated dividend yield is 3.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.04.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 272.0, implying annual growth of 8.9%.
Current consensus DPS estimate is 234.8, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 29.3.
Market Sentiment: 0.0
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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