Daily Market Reports | Mar 03 2026
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
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)
ABB (2) ADH (2) AHL APE BGL (2) BOL BRI CNU CWP DTL (2) EOS FPH (2) GEM (2) GGP (2) GYG IGO IMD (2) IMR ING IPG IPH KGN LBL LFG LGI LIC LOT LRK MAD MGH MIN MPL NHF NWH PFP PLS PWR QBE QUB RHC SHL SKC
ABB AUSSIE BROADBAND LIMITED
Telecommunication - Overnight Price: $4.99
Canaccord Genuity rates ((ABB)) as Buy (1) -
Following Aussie Broadband's interim results, Canaccord Genuity raises its target price to $6.94 from $6.85 after reported revenue of $638m rose by 8% on the prior year, ahead of the consensus estimate.
Earnings (EBITDA) of $74.7m rose 14% but came in -4% below forecasts by the broker and consensus on higher costs.
FY26 earnings guidance was lifted to $162-167m from $157-167m.
The broker expects earnings to rise to around $217m in FY27, driven by organic growth and contributions from More Telecom, AGL Telco ((AGL)) and Nexgen.
This report was published on February 23, 2026.
Target price is $6.94 Current Price is $4.99 Difference: $1.95
If ABB meets the Canaccord Genuity target it will return approximately 39% (excluding dividends, fees and charges).
Current consensus price target is $6.08, suggesting upside of 23.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 5.90 cents and EPS of 18.20 cents.
At the last closing share price the estimated dividend yield is 1.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.2, implying annual growth of 53.7%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 28.7.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 10.60 cents and EPS of 26.80 cents.
At the last closing share price the estimated dividend yield is 2.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.62.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.4, implying annual growth of 53.5%.
Current consensus DPS estimate is 7.6, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 18.7.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((ABB)) as Neutral (3) -
Aussie Broadband delivered a first half result that was in line, with momentum better than Jarden expected at the top line amid stronger gross margins. FY26 guidance has been lifted 1.5% at the mid point following continued subscriber growth.
The broker finds the business executing well with a compelling portfolio of acquisition options, expecting the business will deliver strong earnings growth despite meaningful integration risks, although still short of the $270m FY28 EBITDA ambition.
Neutral maintained. Target is $5.50.
This report was published on February 23, 2026.
Target price is $5.50 Current Price is $4.99 Difference: $0.51
If ABB meets the Jarden target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $6.08, suggesting upside of 23.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 5.40 cents and EPS of 23.90 cents.
At the last closing share price the estimated dividend yield is 1.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.2, implying annual growth of 53.7%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 28.7.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 7.00 cents and EPS of 32.90 cents.
At the last closing share price the estimated dividend yield is 1.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.4, implying annual growth of 53.5%.
Current consensus DPS estimate is 7.6, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 18.7.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ADH ADAIRS LIMITED
Furniture & Renovation - Overnight Price: $1.87
Canaccord Genuity rates ((ADH)) as Buy (1) -
Adairs reported 1H26 sales of $229m, up 4% and near the top end of revised guidance, highlights Canaccord Genuity, while the gross margin rose 1% but remained pressured by promotional activity.
The broker notes an improved December quarter and a solid start to H2 with group sales up 6.4% in the first seven weeks, supporting expectations of better earnings in H2 and stronger operating leverage into FY27.
The analyst's FY26 and FY27 normalised profit forecasts are reduced by -2% and -7%, respectively, largely reflecting higher costs.
Canaccord retains a Buy rating and lowers its target price to $2.70 from $2.80
This report was published on February 23, 2026.
Target price is $2.70 Current Price is $1.87 Difference: $0.83
If ADH meets the Canaccord Genuity target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $2.34, suggesting upside of 33.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 10.50 cents and EPS of 19.20 cents.
At the last closing share price the estimated dividend yield is 5.61%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.3, implying annual growth of 32.1%.
Current consensus DPS estimate is 10.6, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 9.1.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 11.50 cents and EPS of 22.70 cents.
At the last closing share price the estimated dividend yield is 6.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.7, implying annual growth of 22.8%.
Current consensus DPS estimate is 14.8, implying a prospective dividend yield of 8.5%.
Current consensus EPS estimate suggests the PER is 7.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((ADH)) as Downgrade to Overweight from Buy (2) -
Jarden notes Adairs provided two pieces of news in its first half results that imply 5-6% consensus EBIT upgrades for FY26 and further upside in FY27.
These include second half sales in the year to date that are up 6% despite tough comparables and commentary on gross margin and FX benefits.
First half trading was "solid" and revenue in line. The broker downgrades to Overweight from Buy given the macro risks and the balance sheet position relative to ASX retail peers. Target is lowered to $2.30 from $2.68.
This report was published on February 23, 2026.
Target price is $2.30 Current Price is $1.87 Difference: $0.43
If ADH meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $2.34, suggesting upside of 33.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 11.20 cents and EPS of 21.10 cents.
At the last closing share price the estimated dividend yield is 5.99%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.3, implying annual growth of 32.1%.
Current consensus DPS estimate is 10.6, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 9.1.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 15.40 cents and EPS of 23.60 cents.
At the last closing share price the estimated dividend yield is 8.24%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.7, implying annual growth of 22.8%.
Current consensus DPS estimate is 14.8, implying a prospective dividend yield of 8.5%.
Current consensus EPS estimate suggests the PER is 7.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AHL ADRAD HOLDINGS LIMITED
Overnight Price: $1.05
Taylor Collison rates ((AHL)) as Speculative Buy (1) -
Adrad is moving into a structural growth phase, Taylor Collison observes, noting the first half restructuring and productivity initiatives.
The broker believes a leaner cost base is the first step to driving returns on equity back to double-digit rates and annualised cost savings of $2-3m are considered easily achievable.
The stock trades at a -50-80% discount to its peer group, despite multi-year earnings growth potential. Taylor Collison believes the discount is "simply too steep".
FY26 and FY27 estimates for EPS are increased by 16% and 18% respectively. Buy rating. Target is raised to $1.60 from $1.35.
This report was published on February 20, 2026.
Target price is $1.60 Current Price is $1.05 Difference: $0.545
If AHL meets the Taylor Collison target it will return approximately 52% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 dividend of 4.50 cents and EPS of 10.50 cents.
At the last closing share price the estimated dividend yield is 4.27%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.05.
Forecast for FY27:
Taylor Collison forecasts a full year FY27 dividend of 6.30 cents and EPS of 12.60 cents.
At the last closing share price the estimated dividend yield is 5.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.37.
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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