Australian Broker Call *Extra* Edition – Mar 03, 2026

Array
(
    [0] => Array
        (
            [0] => ((ABB))
            [1] => ((AGL))
            [2] => ((ABB))
            [3] => ((ADH))
            [4] => ((ADH))
            [5] => ((AHL))
            [6] => ((APE))
            [7] => ((BGL))
            [8] => ((BGL))
            [9] => ((BOL))
            [10] => ((BRI))
            [11] => ((CNU))
            [12] => ((CWP))
            [13] => ((DTL))
            [14] => ((DTL))
            [15] => ((EOS))
            [16] => ((FPH))
            [17] => ((FPH))
            [18] => ((GEM))
            [19] => ((GEM))
            [20] => ((GGP))
            [21] => ((GGP))
            [22] => ((GYG))
            [23] => ((IGO))
            [24] => ((IMD))
            [25] => ((IMD))
            [26] => ((IMR))
            [27] => ((ING))
            [28] => ((IPG))
            [29] => ((IPH))
            [30] => ((KGN))
            [31] => ((LBL))
            [32] => ((LFG))
            [33] => ((LGI))
            [34] => ((LIC))
            [35] => ((LOT))
            [36] => ((LRK))
            [37] => ((MAD))
            [38] => ((MGH))
            [39] => ((MIN))
            [40] => ((MPL))
            [41] => ((NHF))
            [42] => ((MPL))
            [43] => ((NWH))
            [44] => ((PFP))
            [45] => ((PLS))
            [46] => ((PWR))
            [47] => ((QBE))
            [48] => ((QUB))
            [49] => ((MQG))
            [50] => ((RHC))
            [51] => ((SHL))
            [52] => ((SKC))
        )

    [1] => Array
        (
            [0] => ABB
            [1] => AGL
            [2] => ABB
            [3] => ADH
            [4] => ADH
            [5] => AHL
            [6] => APE
            [7] => BGL
            [8] => BGL
            [9] => BOL
            [10] => BRI
            [11] => CNU
            [12] => CWP
            [13] => DTL
            [14] => DTL
            [15] => EOS
            [16] => FPH
            [17] => FPH
            [18] => GEM
            [19] => GEM
            [20] => GGP
            [21] => GGP
            [22] => GYG
            [23] => IGO
            [24] => IMD
            [25] => IMD
            [26] => IMR
            [27] => ING
            [28] => IPG
            [29] => IPH
            [30] => KGN
            [31] => LBL
            [32] => LFG
            [33] => LGI
            [34] => LIC
            [35] => LOT
            [36] => LRK
            [37] => MAD
            [38] => MGH
            [39] => MIN
            [40] => MPL
            [41] => NHF
            [42] => MPL
            [43] => NWH
            [44] => PFP
            [45] => PLS
            [46] => PWR
            [47] => QBE
            [48] => QUB
            [49] => MQG
            [50] => RHC
            [51] => SHL
            [52] => SKC
        )

)

This story features AUSSIE BROADBAND LIMITED, and other companies.
For more info SHARE ANALYSIS: ABB
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)

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

APE    EAGERS AUTOMOTIVE LIMITED

Automobiles & Components – Overnight Price: $23.40

Jarden rates ((APE)) as Neutral (3) –

Eagers Automotive reported 2025 profit before tax of $424.1m, some 1.9% ahead of Jarden and 0.8% above consensus, with gross margin of 16.9% exceeding expectations despite revenue marginally missing forecasts.

Incremental profit before tax growth was driven by BYD and EasyAuto123, commentary highlights, while January trading showed like-for-like order growth of 9% y/y and revenue up 8.3% y/y.

Management flagged a further $500m–$1bn of incremental revenue in FY26 as achievable, with CanadaOne contributing nine months in FY26.

A&NZ profit before tax forecasts are cut by around -7% and EPS trimmed by -2% for FY26–27, on currency headwinds and higher shares on issue. Neutral retained, with the target price reduced to $26.10 from $26.50.

This report was published on February 20, 2026.

Target price is $26.10 Current Price is $23.40 Difference: $2.7
If APE meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $30.48, suggesting upside of 35.7%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 91.50 cents and EPS of 121.40 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 120.8, implying annual growth of 38.7%.
Current consensus DPS estimate is 85.5, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 18.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 100.60 cents and EPS of 133.60 cents.
At the last closing share price the estimated dividend yield is 4.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 135.3, implying annual growth of 12.0%.
Current consensus DPS estimate is 91.0, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 16.6.

Market Sentiment: 0.7
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: $1.84

Canaccord Genuity rates ((BGL)) as Speculative Buy (1) –

Canaccord Genuity has retained its Speculative Buy rating and target price of $2.10 for Bellevue Gold following first-half results.

Earnings (EBITDA) of $107m exceeded the broker’s $95m forecast and the consensus estimate of $97m, while profit of $2.6m also came in ahead of expectation.

FY26 production guidance is unchanged at 130-150koz at costs (AISC) of -$2,600-2,900/oz.

Growth capex guidance increases/deteriorates by -29% to -$105-115m reflecting approval of a -$35-40m paste plant following an updated pre-feasibility study (PFS).

This report was published on February 23, 2026.

Target price is $2.10 Current Price is $1.84 Difference: $0.26
If BGL meets the Canaccord Genuity target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $2.20, suggesting upside of 22.2%(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 10.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.40.

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 13.8.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 21.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.76.

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 8.7.

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

Jarden rates ((BGL)) as Neutral (3) –

The first half result from Bellevue Gold was “clean”, Jarden asserts with EBITDA in line with expectations.

The broker expects a materially stronger second half as increased mine grades support a lift in production while significantly higher gold prices will raise revenue from spot sales.

Neutral retained. Target price is steady at $1.05.

This report was published on February 24, 2026.

Target price is $1.05 Current Price is $1.84 Difference: minus $0.79 (current price is over target).
If BGL meets the Jarden target it will return approximately minus 43% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.20, suggesting upside of 22.2%(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 4.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.89.

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 13.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 15.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.79.

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 8.7.

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

BOL    BOOM LOGISTICS LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $1.89

Taylor Collison rates ((BOL)) as Outperform (2) –

Boom Logistics is continuing to turn around earnings, cash flow and capital returns and Taylor Collison highlights valuation support relative to peers.

The first half result delivered significantly reduced capital expenditure. As a result, gearing dropped to 38% from 41% while the company funded $3m in buybacks.

Margin expansion was driven by improved contract mix in mining and energy and stronger fleet allocation. The board has increased its FY26 capital return target by 50% via an on market buyback.

The broker highlights FY26 guidance implies 20% statutory EPS growth before factoring in further buyback accretion. Outperform maintained. Target rises to $2.48 from $2.13.

This report was published on February 23, 2026.

Target price is $2.48 Current Price is $1.89 Difference: $0.59
If BOL meets the Taylor Collison target it will return approximately 31% (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 2.00 cents and EPS of 29.60 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 6.39.

Forecast for FY27:

Taylor Collison forecasts a full year FY27 dividend of 2.70 cents and EPS of 34.60 cents.
At the last closing share price the estimated dividend yield is 1.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.46.

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

BRI    BIG RIVER INDUSTRIES LIMITED

Building Products & Services – Overnight Price: $1.46

Taylor Collison rates ((BRI)) as Outperform (2) –

Big River Industries continues to deliver “admirable margin control” in the first half, Taylor Collison asserts.

Subdued completion data meant a slide in first half revenue for panels and the broker anticipates demand in this higher-margin segment will remain constrained in the second half, and volumes will depend on the company’s “robust” civil and commercial pipelines.

Taylor Collison is confident of a FY27 recovery in panels amid green shoots in dwellings under construction.

The broker is comfortable the company can weather short-term macro turbulence, being well-placed to capitalise on a cyclical upturn. No target is provided. Outperform.

This report was published on February 26, 2026.

Current Price is $1.46. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 3.70 cents and EPS of 5.00 cents.
At the last closing share price the estimated dividend yield is 2.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.20.

Forecast for FY27:

Taylor Collison forecasts a full year FY27 dividend of 4.10 cents and EPS of 6.30 cents.
At the last closing share price the estimated dividend yield is 2.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.17.

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

CNU    CHORUS LIMITED

Telecommunication – Overnight Price: $7.96

Jarden rates ((CNU)) as Underweight (4) –

Chorus provided a first half result that was largely in line with expectations with Jarden noting a good performance on costs as benefits of the reorganisation and accelerated switch-off of copper are realised. Guidance has been maintained.

The medium-term target for 80% penetration is unchanged and the broker suspects price is unlikely to be a major lever, given the risks inherent to trading down.

The stock continues to trade closer to yield assessment in terms of value and the broker reduces the target to NZ$8.43 from NZ$8.50. Underweight retained.

This report was published on February 23, 2026.

Current Price is $7.96. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 53.71 cents and EPS of 11.73 cents.
At the last closing share price the estimated dividend yield is 6.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 67.88.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 55.05 cents and EPS of 14.32 cents.
At the last closing share price the estimated dividend yield is 6.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.57.

This company reports in NZD. 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

CWP    CEDAR WOODS PROPERTIES LIMITED

Infra & Property Developers – Overnight Price: $9.10

Moelis rates ((CWP)) as Buy (1) –

Cedar Woods Properties’ first half performance highlights the strong demand for its product in key markets, Moelis suggests. The company’s 1H26 earnings rose 160% year on year and FY26 profit growth guidance raised to 30-35%.

The pipeline and balance sheet (10% gearing) should allow for further growth, the broker notes.

While housing development remains a cyclical industry, commentary suggests Cedar Woods’ project pipeline is diversified by geography and product, which should reduce volatility over time.

A 10x FY27 PE looks attractive to Moelis in the context of growth outlook. Target rises to $10.22 from $10.09, Buy retained.

This report was published on February 25, 2026.

Target price is $10.22 Current Price is $9.10 Difference: $1.12
If CWP meets the Moelis target it will return approximately 12% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 37.50 cents and EPS of 76.10 cents.
At the last closing share price the estimated dividend yield is 4.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.96.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 41.40 cents and EPS of 84.20 cents.
At the last closing share price the estimated dividend yield is 4.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.81.

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

DTL    DATA#3 LIMITED.

IT & Support – Overnight Price: $6.77

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

Data#3’s 1H26 result showed gross sales rising 8.6% to a record $1.5bn, ahead of forecasts by Canaccord Genuity and consensus.

Gross profit of $144.0m missed consensus by -2% as the gross margin fell -83bps to 9.3%, explains the analyst.

Profit before tax (PBT) of $33.5m slightly exceeded the broker’s forecasts on strong cost control and higher interest income.

FY26 gross profit growth guidance of mid-to-high single digits was reiterated, albeit with timing risks flagged.

Canaccord retains a Hold rating and lowers its target price to $8.53 from $9.33, despite higher earnings forecasts. The broker’s assumed valuation multiple is reduced reflecting near-term uncertainty.

This report was published on February 23, 2026.

Target price is $8.53 Current Price is $6.77 Difference: $1.76
If DTL meets the Canaccord Genuity target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $8.54, suggesting upside of 25.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 31.50 cents and EPS of 34.90 cents.
At the last closing share price the estimated dividend yield is 4.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 33.3, implying annual growth of 7.0%.
Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 20.5.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 34.40 cents and EPS of 38.20 cents.
At the last closing share price the estimated dividend yield is 5.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.4, implying annual growth of 6.3%.
Current consensus DPS estimate is 31.3, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 19.2.

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

Jarden rates ((DTL)) as Downgrade to Underweight from Overweight (4) –

Jarden points out Data#3 may have delivered pre-tax profit in the first half at the upper end of guidance but the outcome was supported by higher interest income and a non-recurring lease adjustment.

EBIT was in line with estimates and gross profit missed. FY26 guidance has been reaffirmed for high single digit gross profit growth and the broker suspects this is optimistic.

Rating is downgraded to Underweight from Overweight, as Jarden notes first half services sales were flat and buy side discussions signal the multiples for an IT reseller are coming under scrutiny post the recent tech sector sell-off.

Target is reduced to $7.70 from $9.60.

This report was published on February 23, 2026.

Target price is $7.70 Current Price is $6.77 Difference: $0.93
If DTL meets the Jarden target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $8.54, suggesting upside of 25.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 31.10 cents and EPS of 34.40 cents.
At the last closing share price the estimated dividend yield is 4.59%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 33.3, implying annual growth of 7.0%.
Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 20.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 35.80 cents and EPS of 39.70 cents.
At the last closing share price the estimated dividend yield is 5.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.4, implying annual growth of 6.3%.
Current consensus DPS estimate is 31.3, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 19.2.

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

EOS    ELECTRO OPTIC SYSTEMS HOLDINGS LIMITED

Hardware & Equipment – Overnight Price: $9.21

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

Canaccord Genuity retains a Buy rating and $12.00 target price on Electro Optic Systems after revenue of $128m fell -27% on the prior year but came in 2% above forecasts by the broker and consensus.

The gross margin expanded to 63%, benefiting from a $12m contract finalisation payment, explain the analysts. Underlying earnings (EBITDA) of -$23m were in line with the broker’s expectation. 

It’s thought the earnings nadir has been reached given the strong backlog build and outlook.

The order backlog increased to a record $459m, with 40-50% expected to convert to 2026 revenue, according to management, underpinning the broker’s $227m forecast. 

This report was published on February 23, 2026.

Target price is $12.00 Current Price is $9.21 Difference: $2.79
If EOS meets the Canaccord Genuity target it will return approximately 30% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 15.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 59.42.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 5.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 167.45.

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

FPH    FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED

Medical Equipment & Devices – Overnight Price: $34.70

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

Fisher & Paykel Healthcare has raised FY26 revenue guidance to NZ$2.3bn from NZ$2.17-2.27bn, around 1.5% above forecasts by Canaccord Genuity and consensus.

Profit guidance was also upgraded to NZ$450-470m from NZ$410-460m, 4% ahead of the broker’s expectations at the top end, driven by strong hospital demand for high-flow nasal cannula products.

The analysts view the upgrades as operationally driven, with margin expansion offsetting tariff headwinds and limited FX impact.

The broker expects FY26 profit of NZ$466.8m and makes modest 1-3% upgrades to its outer-year forecasts. Target of $37.50 and Buy rating are retained.

This report was published on February 23, 2026.

Target price is $37.50 Current Price is $34.70 Difference: $2.8
If FPH meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is N/A
The company’s fiscal year ends in March.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 40.28 cents and EPS of 70.72 cents.
At the last closing share price the estimated dividend yield is 1.16%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 49.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 66.2, implying annual growth of N/A.
Current consensus DPS estimate is 38.1, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 51.8.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 50.13 cents and EPS of 78.78 cents.
At the last closing share price the estimated dividend yield is 1.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 44.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 77.2, implying annual growth of 16.6%.
Current consensus DPS estimate is 42.9, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 44.5.

This company reports in NZD. 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

Jarden rates ((FPH)) as Neutral (3) –

Fisher & Paykel Healthcare has upgraded FY26 guidance for net profit to be NZ$450-470m, which excludes any potential refund of US tariffs paid to date during the financial year. An update of potential impact of US tariffs will be provided with the results at the end of May.

Jarden notes the upgrade is pointing to a strong performance in the second half amid good growth across a full range of hospital products so far.

Estimates are lifted to reflect the likely outperformance in underlying hospital and operating expenditure and a Neutral rating is retained. Target rises to NZ$40.20 from NZ$39.30.

This report was published on February 23, 2026.

Current Price is $34.70. Target price not assessed.
Current consensus price target is N/A
The company’s fiscal year ends in March.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 43.86 cents and EPS of 72.24 cents.
At the last closing share price the estimated dividend yield is 1.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 66.2, implying annual growth of N/A.
Current consensus DPS estimate is 38.1, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 51.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 50.13 cents and EPS of 83.16 cents.
At the last closing share price the estimated dividend yield is 1.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 77.2, implying annual growth of 16.6%.
Current consensus DPS estimate is 42.9, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 44.5.

This company reports in NZD. 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

GEM    G8 EDUCATION LIMITED

Childcare – Overnight Price: $0.33

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

Canaccord Genuity slashes its target for G8 Education to 49c from 80c following FY25 results. 

The company reported 2025 occupancy of 65.8%, down -4.9ppts on the prior year, with operating earnings (EBIT) –pre-AASB– of $93.3m within guidance but slightly below the analysts’ expectation.

Free cash flow (FCF) was -3% below the broker’s estimate due to higher capex, while net debt increased 75% to $116.9m.

The broker cuts its FY26 revenue, EBIT and EPS forecasts by -8%, -31% and -39%, respectively, on weaker occupancy assumptions.

While near-term conditions remain challenging, Canaccord views the balance sheet as sound following a pause in capital management. Hold rating retained.

This report was published on February 23, 2026.

Target price is $0.49 Current Price is $0.33 Difference: $0.16
If GEM meets the Canaccord Genuity target it will return approximately 48% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

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 6.60.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 3.60 cents and EPS of 6.00 cents.
At the last closing share price the estimated dividend yield is 10.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.50.

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

Moelis rates ((GEM)) as Hold (3) –

G8 Education’s 2025 earnings were moderately softer versus Moelis’ expectations. However, 2026 trading conditions are what caught the market’s attention, with material downgrades to occupancy year to date versus expectations.

G8’s operating environment remains tough, the broker notes, weighted against increased governance costs. Capital management is on pause which appears to insulate the balance sheet.

Moelis downgrades forecasts to reflect sustained weak 1H26 occupancy driven by a continued challenging operating environment, with negative declines modestly improving in 2H26, and increased governance costs offset by modest support from cost savings.

Target falls to 40c from 75c, Hold retained.

This report was published on March 3, 2026.

Target price is $0.40 Current Price is $0.33 Difference: $0.07
If GEM meets the Moelis target it will return approximately 21% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.89.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 6.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.08.

Market Sentiment: 0.0
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: $14.45

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

Greatland Resources’ 1H FY26 result revealed underlying earnings (EBITDA) of $566m, broadly in line with forecasts by Canaccord Genuity and consensus. Profit of $343m also met expectations.

The company ended the half with $948m cash, up $374m, and remains debt free with around $1bn of liquidity, highlight the analysts.

FY26 production guidance of 260-310koz at costs (AISC) of -$2,400-2,800/oz is unchanged. First-half costs of -$2,176/oz came in below guidance.

The broker lifts its valuation for Greatland Resources on higher exploration value and potential West Dome Underground development.

Target is raised to $14.60 from $13.25. Buy rating is unchanged.

This report was published on March 2, 2026.

Target price is $14.60 Current Price is $14.45 Difference: $0.15
If GGP meets the Canaccord Genuity target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $15.67, suggesting upside of 14.8%(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 94.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.37.

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 13.6.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 95.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.21.

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 21.3.

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

Jarden rates ((GGP)) as Underweight (4) –

Greatland Resources provided a first half result that “reconciles well” with quarterly disclosures, Jarden observes. EBITDA of $528m was -2% below estimates because of higher corporate costs.

Overall the result was robust, yet the broker notes the financials will become “optically” more challenging with the lowest-cost Telfer ounces now behind the business and this being a high-cost mine.

Underweight rating. Target edges up to $5.60 from $5.50.

This report was published on February 24, 2026.

Target price is $5.60 Current Price is $14.45 Difference: minus $8.85 (current price is over target).
If GGP meets the Jarden target it will return approximately minus 61% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.67, suggesting upside of 14.8%(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 111.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.01.

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 13.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 68.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.13.

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 21.3.

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

GYG    GUZMAN Y GOMEZ LIMITED

Food, Beverages & Tobacco – Overnight Price: $19.14

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

Guzman y Gomez’s 1H26 result was mixed with earnings (EBITDA) up 26% y/y but softer same store sales growth trends, including negative US comps in Q2, and weaker company-owned store profitability, Jarden notes.

Australian margin guidance was tightened to 6.0–6.2% for FY26.

Forecast changes see FY26–FY28 EBIT forecasts lifted 2–6% and NPAT upgraded on lower D&A and interest, although US losses are cut by -5–12% over the next three years on higher expected costs.

Store rollout remains on track for 32 openings in FY26, with Jarden assuming 30 net additions, but competition for drive-through sites and increasing QSR entrants are flagged as rising risks.

Neutral retained, with the target price reduced to $19.30 from $25.40.

This report was published on February 20, 2026.

Target price is $19.30 Current Price is $19.14 Difference: $0.16
If GYG meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $23.37, suggesting upside of 22.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 5.00 cents and EPS of 17.40 cents.
At the last closing share price the estimated dividend yield is 0.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 110.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.9, implying annual growth of 39.6%.
Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 95.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 24.00 cents and EPS of 36.00 cents.
At the last closing share price the estimated dividend yield is 1.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.7, implying annual growth of 79.4%.
Current consensus DPS estimate is 21.7, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 53.3.

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: $8.30

Jarden rates ((IGO)) as Neutral (3) –

IGO reported a 1H26 net loss of -$34m, an improvement on the prior period but below Jarden and consensus at the underlying level, with net loss after tax of -$39m impacted by nil tax benefit recognition, partly offset by a $48m unrealised gain on listed investments.

Greenbushes production guidance of 1,500–1,650kt was retained, although the broker remains at the bottom end of the range given 1H output of 672kt and CGP3 ramp-up delays.

Albemarle’s Kemerton shutdown raises offtake and inventory risks at Greenbushes, with commentary highlighting IGO is exposed through its indirect 25% interest and limited operational control within the JV structure.

Net profit after tax forecasts for FY26/FY27 are upgraded by 38% and 19%, respectively on higher near-term SC6 price assumptions, partly offset by a stronger AUD/USD forecast of 0.70, while trimming FY28 forecast by -14%.

Neutral retained, with the DCF-based target price lifted to $5.40 from $5.15.

This report was published on February 20, 2026.

Target price is $5.40 Current Price is $8.30 Difference: minus $2.9 (current price is over target).
If IGO meets the Jarden target it will return approximately minus 35% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $8.85, suggesting upside of 11.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 15.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.55.

How do these forecasts compare to market consensus projections?

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 49.7.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 26.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.86.

How do these forecasts compare to market consensus projections?

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 1.7%.
Current consensus EPS estimate suggests the PER is 8.3.

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

IMD    IMDEX LIMITED

Mining Sector Contracting – Overnight Price: $4.28

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

Canaccord Genuity reiterates a Buy rating and raises its target price for Imdex to $4.52 from $3.98 after a “strong” 1H26 result. Revenue of $246.6m beat the broker’s estimate by 4%, while earnings (EBITDA) and profit were 9% and 32% ahead, respectively.

The broker notes operating leverage was evident, noting 2Q revenue rose by 23% on the prior year, setting up a stronger H2.

Market share gains are being supported by integrated managed solutions and improving drilling activity, explain the analysts, particularly in gold and copper.

Canaccord’s FY26 revenue, earnings and earnings per share forecasts are lifted by 5%, 8% and 19%, respectively.

This report was published on February 23, 2026.

Target price is $4.52 Current Price is $4.28 Difference: $0.24
If IMD meets the Canaccord Genuity target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.65, suggesting upside of 9.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 3.70 cents and EPS of 11.10 cents.
At the last closing share price the estimated dividend yield is 0.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 38.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.5, implying annual growth of 16.0%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 34.1.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 4.80 cents and EPS of 14.60 cents.
At the last closing share price the estimated dividend yield is 1.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.8, implying annual growth of 18.4%.
Current consensus DPS estimate is 5.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 28.8.

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

Jarden rates ((IMD)) as Upgrade to Underweight from Sell (4) –

Imdex’ first half result was characterised by margin improvement in a strong outcome across the Americas and earnings beat estimates, Jarden comments.

While assessing valuation considerations are “secondary” to the beat to estimates and the upgrade cycle for investors, Jarden believes it has been wrong in its conservative approach to valuation metrics for the stock and raises its rating to Underweight from Sell.

Overall, the broker forecasts FY26 core net profit of $55.4m implying strong growth of 28% relative to FY25. Target is raised to $3.60 from $2.90.

This report was published on February 23, 2026.

Target price is $3.60 Current Price is $4.28 Difference: minus $0.68 (current price is over target).
If IMD meets the Jarden target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.65, suggesting upside of 9.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 2.80 cents and EPS of 10.30 cents.
At the last closing share price the estimated dividend yield is 0.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.5, implying annual growth of 16.0%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 34.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 3.30 cents and EPS of 11.50 cents.
At the last closing share price the estimated dividend yield is 0.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.8, implying annual growth of 18.4%.
Current consensus DPS estimate is 5.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 28.8.

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

IMR    IMRICOR MEDICAL SYSTEMS INC

Medical Equipment & Devices – Overnight Price: $2.14

Taylor Collison rates ((IMR)) as Outperform (2) –

Having attended the Society of Cardiovascular Magnetic Resonance conference in Brazil, Taylor Collison engaged with those experienced in Imricor Medical Systems’ technology.

They highlighted its superior ability to visualise and characterise complex tissue that disrupt normal heart rhythms, such as fat, fibrosis and scar interspersed within the heart wall layers.

The broker maintains peak sales forecasts, but increases valuation for the stock based on the positive feedback that has consistently come from end-users. Outperform maintained. Target is $2.78, raised from $2.26.

Imricor Medical Systems has also announced a third clinical trial site at the Na Homolce Hospital in the Czech Republic that will join its European VT trial.

This hospital performs over 3500 diagnostic and therapeutic catheterisations, specialising in complex procedures, according to the broker’s update.

This report was published on February 20, 2026.

Target price is $2.78 Current Price is $2.14 Difference: $0.64
If IMR meets the Taylor Collison target it will return approximately 30% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.01 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.36.

Forecast for FY27:

Taylor Collison forecasts a full year FY27 dividend of 0.00 cents and EPS of 12.51 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.11.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ING    INGHAMS GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $2.08

Jarden rates ((ING)) as Neutral (3) –

According to Jarden, Inghams Group’s 1H26 result was a miss with revenue in line but higher costs from excess inventory and onboarding new contracts driving a downgrade to FY26 guidance, now EBITDA pre-AASB16 of $180–200m.

Australian costs rose 5–6% yoy across labour, ingredients and supply chain, while NZ EBITDA missed by -13% on weaker volumes, partly offset by QSR volume growth of 7.6% and improving pricing.

Inventory clearance of $19m weighed on 1H margins but is expected to normalise into 3Q.

FY26–28 EPS forecasts are cut materially. Neutral retained, with the target price reduced to $2.50 from $2.80.

This report was published on February 20, 2026.

Target price is $2.50 Current Price is $2.08 Difference: $0.42
If ING meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.56, suggesting upside of 24.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 8.50 cents and EPS of 12.10 cents.
At the last closing share price the estimated dividend yield is 4.09%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.1, implying annual growth of -33.4%.
Current consensus DPS estimate is 9.9, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 12.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 12.70 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 6.11%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.5, implying annual growth of 39.8%.
Current consensus DPS estimate is 14.5, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 9.2.

Market Sentiment: 0.3
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: $5.16

Taylor Collison rates ((IPG)) as Speculative Buy (1) –

IPD Group delivered first half net profit growth of 8% with EBITDA and EBIT slightly ahead of guidance.

Taylor Collison notes the first half would have been an even stronger had a large data centre project met original timelines. No full year guidance was provided.

The broker suspects a multi-sector rebound in activity is occurring with the company not mentioning any softness in commercial construction at this result, although competitive pressures remain.

There is also improved expenditure in view for the industrial, utility and mining sectors. Estimates are largely unchanged and the broker retains a Buy rating. Target is steady at $5.40.

This report was published on February 24, 2026.

Target price is $5.40 Current Price is $5.16 Difference: $0.24
If IPG meets the Taylor Collison target it will return approximately 5% (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 15.80 cents and EPS of 31.80 cents.
At the last closing share price the estimated dividend yield is 3.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.23.

Forecast for FY27:

Taylor Collison forecasts a full year FY27 dividend of 18.40 cents and EPS of 36.90 cents.
At the last closing share price the estimated dividend yield is 3.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.98.

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

IPH    IPH LIMITED

Legal – Overnight Price: $3.58

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

Jarden notes IPH delivered a broadly in line 1H26 result, with improving like-for-like revenue trends from down -2% in the first four months to up 1% for the half, plus an announced buyback of up to around 5%, supporting a 13% share price rise.

Commentary highlights ongoing headwinds including Australian market share losses, soft US PCT filings, potential partner churn risk in Canada from Oct-26, and new competition in Asia.

The broker does add these risks appear reflected in the valuation at around 8x PE and a circa 10% partially franked yield.

On a pre-FX basis, A&NZ earnings (EBITDA) forecasts are cut, with FX driving -6% to –9% EPS downgrades across FY26–28.

AI disruption is viewed as a modest near-term risk, with industry feedback suggesting limited impact on core patent attorney work. Overweight retained, with target price reduced to $4.60 from $6.50.

This report was published on February 19, 2026.

Target price is $4.60 Current Price is $3.58 Difference: $1.02
If IPH meets the Jarden target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $5.14, suggesting upside of 44.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 36.40 cents and EPS of 45.70 cents.
At the last closing share price the estimated dividend yield is 10.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 47.6, implying annual growth of 84.1%.
Current consensus DPS estimate is 37.8, implying a prospective dividend yield of 10.6%.
Current consensus EPS estimate suggests the PER is 7.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 36.40 cents and EPS of 43.50 cents.
At the last closing share price the estimated dividend yield is 10.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 49.3, implying annual growth of 3.6%.
Current consensus DPS estimate is 38.8, implying a prospective dividend yield of 10.9%.
Current consensus EPS estimate suggests the PER is 7.2.

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

KGN    KOGAN.COM LIMITED

Retailing – Overnight Price: $4.00

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

Canaccord Genuity highlights from first half results a strong core Kogan.com performance, with revenue up 17% and earnings (EBITDA) rising 18% to $28m, offset by a weaker MightyApe result.

Group gross sales rose 16% to $572m, revenue increased 5% to $288m and the gross margin expanded to a record 40%, while adjusted earnings of $24m exceeded the broker’s $20m forecast.

Net cash was $72m after $41m free cash flow (FCF) generation, observe the analysts.

FY26 earnings margin guidance of 6-9% was reiterated, leaving Canaccord’s forecasts broadly unchanged. Buy rating and $7.50 target retained.

This report was published on February 23, 2026.

Target price is $7.50 Current Price is $4.00 Difference: $3.5
If KGN meets the Canaccord Genuity target it will return approximately 88% (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 14.10 cents and EPS of 20.10 cents.
At the last closing share price the estimated dividend yield is 3.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.90.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 17.90 cents and EPS of 27.60 cents.
At the last closing share price the estimated dividend yield is 4.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.49.

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

LBL    LASERBOND LIMITED

Mining Sector Contracting – Overnight Price: $0.60

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

Laserbond reported 1H FY26 revenue up 13% on the prior year, with earnings (EBITDA) rising 58% and profit more than doubling to $2.2m, in a reflection of operating leverage, highlights Canaccord Genuity.

Services revenue grew 10% with the gross margin at 58%, while Products revenue rebounded 34% as the gross margin fell to 47% on tungsten volatility, explains the analyst. The order book is 70% higher year-on-year.

The broker lifts its FY26 revenue forecast by 1% and profit by over 10% to $6.3m, while trimming FY27-28 estimates.

Canaccord re-iterates a Buy rating and raises its target price to $0.90 from $0.80.

This report was published on February 24, 2026.

Target price is $0.90 Current Price is $0.60 Difference: $0.3
If LBL meets the Canaccord Genuity target it will return approximately 50% (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 1.60 cents and EPS of 5.30 cents.
At the last closing share price the estimated dividend yield is 2.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.32.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 1.70 cents and EPS of 6.50 cents.
At the last closing share price the estimated dividend yield is 2.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.23.

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

LFG    LIBERTY FINANCIAL GROUP LIMITED

Diversified Financials – Overnight Price: $3.83

Jarden rates ((LFG)) as Neutral (3) –

Liberty Financial remains “well-placed”, Jarden asserts, to take advantage of the increased flow to third-party HL channels. First half results beat estimates amid lower bad debts and higher net fee and commission income.

A new wave of “contractionary” monetary policy may cause concerns, given low unemployment and elevated asset prices are driving lower bad debts across the sector, yet the broker anticipates shrinkage in origination and book growth will more likely to be a consequence of higher rates.

Neutral rating. Target is steady at $4.

This report was published on February 23, 2026.

Target price is $4.00 Current Price is $3.83 Difference: $0.17
If LFG meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 36.00 cents and EPS of 53.00 cents.
At the last closing share price the estimated dividend yield is 9.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.23.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 37.00 cents and EPS of 65.00 cents.
At the last closing share price the estimated dividend yield is 9.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.89.

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

LGI    LGI LIMITED

Overnight Price: $3.70

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

LGI reported 1H FY26 earnings (EBITDA) of $9.7m, up 33% on the prior year and in line with Canaccord Genuity’s forecast. Profit of $3.1m rose 28% but missed the broker’s estimate on higher depreciation. 

Electricity generation increased 41% to 70.3GWh and Australian Carbon Credit Unit (ACCU) volumes rose 19%, though average pricing was slightly lower, observe the analysts.

FY26 guidance for earnings growth of 25-30% or $21.8-22.6m was reiterated.

Canaccord leaves its FY26 forecasts unchanged but cuts the FY27 earnings estimate to $25m from $27.3m on lower assumed power and Large-scale Generation Certificate (LGC prices), with similar changes for FY28.

The broker reiterates a Buy rating and lowers its target price to $4.55 from $4.80.

This report was published on February 23, 2026.

Target price is $4.55 Current Price is $3.70 Difference: $0.85
If LGI meets the Canaccord Genuity target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $4.63, suggesting upside of 27.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 2.50 cents and EPS of 9.50 cents.
At the last closing share price the estimated dividend yield is 0.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 38.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.8, implying annual growth of 34.4%.
Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 37.1.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 2.50 cents and EPS of 10.10 cents.
At the last closing share price the estimated dividend yield is 0.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 36.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.3, implying annual growth of 15.3%.
Current consensus DPS estimate is 3.5, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 32.2.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

LIC    LIFESTYLE COMMUNITIES LIMITED

Aged Care & Seniors – Overnight Price: $4.87

Jarden rates ((LIC)) as Underweight (4) –

First half results from Lifestyle Communities were below Jarden’s estimates. Management remains cautious and did not provide guidance, pointing to softening market sentiment in Victoria with customers showing more hesitation in committing to property purchases.

The broker observes the business provides a concentrated exposure to Victorian residential and remains “very exposed” to a more aggressive trajectory in interest rate hikes.

Valuation is starting to look attractive with the stock now trading on a price/NTA discount of -19%. Yet, Jarden points out there is only a small cash profit, meaning the business performance and capital position are linked for some time.

Underweight. Target is reduced to $5.75 from $6.05.

This report was published on February 23, 2026.

Target price is $5.75 Current Price is $4.87 Difference: $0.88
If LIC meets the Jarden target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $5.63, suggesting upside of 15.7%(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 25.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.2, 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 21.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 37.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.0, implying annual growth of 21.6%.
Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 18.0.

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

LOT    LOTUS RESOURCES LIMITED

Uranium – Overnight Price: $2.24

Canaccord Genuity rates ((LOT)) as Speculative Buy (1) –

Management at Lotus Resources is managing wet season disruptions at Kayelekera, with Canaccord Genuity noting recent plant testing achieved nameplate throughput and 85% recovery.

The company remains on track to reach a 200k/month production run-rate in the June quarter, with the broker also noting the balance sheet has been reinforced post a $76m capital raising.

Ore stockpiles total around 1.4Mt at 695ppm, including 156kt at 917ppm, highlight the analysts, while acid supply logistics have been stabilised ahead of acid plant completion in March.

The broker updates its model for a higher long-term uranium price of US$110/lb from US$90/lb, adjusts for the capital raising and assumes first sales revenue in 2H of 2026. There was pro-forma cash of $145m at December 31.

Canaccord retains a Speculative Buy rating and raises its target price to $3.90 from $3.60.

This report was published on February 24, 2026.

Target price is $3.90 Current Price is $2.24 Difference: $1.66
If LOT meets the Canaccord Genuity target it will return approximately 74% (excluding dividends, fees and charges).
Current consensus price target is $3.53, suggesting upside of 61.3%(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 minus 21.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -10.6, 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 N/A.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 15.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.5, 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 16.2.

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

LRK    LARK DISTILLING CO. LIMITED

Food, Beverages & Tobacco – Overnight Price: $0.74

Moelis rates ((LRK)) as Upgrade to Buy from Hold (1) –

Lark Distilling’s 1H26 result was broadly in line and Moelis maintains an FY26 sales growth forecast of 18% year on year, implying a 2H weighting consistent with export and domestic restage rollout.

The key driver to sales in FY26 and beyond will be the size and cadence of export reorders after initial shipments are depleted. Global spirits sector multiples have derated significantly since covid, Moelis notes. Similarly, Lark’s multiple has derated and near-term expectations have reset.

At a -10% discount to FY27 sector multiples, the broker believes the downside is increasingly underwritten while export market growth provides re-rating potential into FY27. Upgrade to Buy from Hold, target 88c.

This report was published on March 3, 2026.

Target price is $0.88 Current Price is $0.74 Difference: $0.138
If LRK 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 0.00 cents and EPS of minus 3.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 20.05.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 18.55.

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

MAD    MADER GROUP LIMITED

Mining Sector Contracting – Overnight Price: $8.56

Moelis rates ((MAD)) as Hold (3) –

Mader Group’s 1H26 result showed continued strong growth in Australia and a solid showing in North America, Moelis notes.

Management has reiterated FY26 guidance of profit of $65m, which implies a 2H26 broadly in line with customary 1H:2H split of 47:53.

Fast growing verticals and execution in Canada remain the pathways for further growth, in Moelis’ view.

Commentary states the company has made excellent strides in its strategic plan milestones and the broker maintains a view that Mader remains in a growth cycle.

Moelis keenly anticipates an update on the new five year plan in coming months. Hold retained, target $9.08.

This report was published on March 3, 2026.

Target price is $9.08 Current Price is $8.56 Difference: $0.52
If MAD meets the Moelis target it will return approximately 6% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 4.80 cents and EPS of 30.90 cents.
At the last closing share price the estimated dividend yield is 0.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.70.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 4.80 cents and EPS of 37.50 cents.
At the last closing share price the estimated dividend yield is 0.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.83.

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

MGH    MAAS GROUP HOLDINGS LIMITED

Building Products & Services – Overnight Price: $4.76

Moelis rates ((MGH)) as Buy (1) –

Maas Group has delivered a solid 1H26 result, demonstrating growth and cashflow conversion, Moelis notes. The period saw improvement in Civil Construction and Hire and the result was also supported by continued growth in Construction Materials.

FY26 earnings guidance is upgraded to $250-280m from $240-275m. Continued progress on capital recycling efforts are positioning the business for the next phase of its evolution, Moelis suggests.

Buy retained, target $4.66.

This report was published on March 3, 2026.

Target price is $4.66 Current Price is $4.76 Difference: minus $0.1 (current price is over target).
If MGH meets the Moelis target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
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 28.00 cents.
At the last closing share price the estimated dividend yield is 1.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.00.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 3.50 cents and EPS of 14.90 cents.
At the last closing share price the estimated dividend yield is 0.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.95.

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

MIN    MINERAL RESOURCES LIMITED

Iron Ore – Overnight Price: $59.70

Jarden rates ((MIN)) as Sell (5) –

Jarden highlights Mineral Resources’ 1H26 earnings (EBITDA) of $1.167bn proved 4% above expectations and 7% above consensus.

Management signalled a pivot back towards growth including Onslow, targeting 38–40mtpa and potential restarts at Bald Hill and Mt Marion.

Deleveraging is expected to accelerate with around $1.0bn post-tax proceeds from the lithium sell-down to POSCO, supporting a return to under 2x ND/EBITDA by end FY26 under the new capital allocation framework.

Earnings (EBITDA) forecasts are tweaked higher for FY26, FY27, and trimmed in FY28 by -5% on updated commodity and FX assumptions.

Sell rating unchanged. Target rises to $22 from $21.70.

This report was published on February 21, 2026.

Target price is $22.00 Current Price is $59.70 Difference: minus $37.7 (current price is over target).
If MIN meets the Jarden target it will return approximately minus 63% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $63.50, suggesting upside of 12.5%(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 290.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 324.3, 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 17.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 155.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 38.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 316.0, implying annual growth of -2.6%.
Current consensus DPS estimate is 87.3, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 17.9.

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

MPL    MEDIBANK PRIVATE LIMITED

Insurance – Overnight Price: $4.40

Jarden rates ((MPL)) as Neutral (3) –

Medibank Private’s 1H26 underlying NPAT came in marginally below Jarden’s expectations, with a -2% EPS miss reflecting softer net margins and higher cyber and other costs.

Health insurance net margin was flat at 8.5%, with gross margin of 16.2% slightly below consensus as downgrading increased to -1.52% and dampened the earn-through from the 5.1%-plus premium rate rise.

Claims growth per policy unit of 2.5% was below guidance, supported by lower hospital utilisation, while extras claims accelerated on higher utilisation and inflation.

FY26 EPS forecast is trimmed slightly with minor changes to outer years. Neutral retained, with the target price reduced to $4.80 from $4.90.

This report was published on February 19, 2026.

Target price is $4.80 Current Price is $4.40 Difference: $0.4
If MPL meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $5.13, suggesting upside of 16.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 18.60 cents and EPS of 22.80 cents.
At the last closing share price the estimated dividend yield is 4.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.2, implying annual growth of 27.6%.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 19.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 21.00 cents and EPS of 25.50 cents.
At the last closing share price the estimated dividend yield is 4.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.4, implying annual growth of 9.5%.
Current consensus DPS estimate is 20.3, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 17.4.

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

NHF    NIB HOLDINGS LIMITED

Insurance – Overnight Price: $6.41

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

The first half results from nib Holdings fell short of Jarden’s expectations in two main areas: ARHI policy growth dropped to 2.2% and underlying operating profit in New Zealand was just 50% of estimates.

Forecasts are trimmed by -5-7% to reflect more modest growth in ARHI and a faster normalisation of the ARHI net margin. Given the downgrading impact of NZ results, the broker expects a recovery in that jurisdiction will be significantly more protracted.

With the stock trading at a -24% discount to its long-term average and rival Medibank Private ((MPL)), Jarden believes risks are appropriately factored in and reiterates an Overweight rating. Target is reduced to $7.65 from $8.20.

This report was published on February 23, 2026.

Target price is $7.65 Current Price is $6.41 Difference: $1.24
If NHF meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $7.34, suggesting upside of 16.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 26.00 cents and EPS of 36.70 cents.
At the last closing share price the estimated dividend yield is 4.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 42.8, implying annual growth of 4.1%.
Current consensus DPS estimate is 28.0, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 14.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 28.00 cents and EPS of 45.50 cents.
At the last closing share price the estimated dividend yield is 4.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 46.7, implying annual growth of 9.1%.
Current consensus DPS estimate is 30.2, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 13.6.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NWH    NRW HOLDINGS LIMITED

Mining Sector Contracting – Overnight Price: $6.40

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

NRW Holdings delivered a strong 1H26 result, with earnings (EBIT(A) 10% ahead of consensus for the strongest first-half performance since 1H14, driven by robust MET and Mining execution, Jarden notes.

Management upgraded FY26 EBIT(A) guidance to $275–285m from $260–265m, with the order book at $7.5bn and margin expansion evident across Mining (up 100bps) and MET (up 170bps).

FY26 core EPS forecast rises by 13%, with more modest upgrades of 4.5% and 6.1% for FY27/FY28, respectively, as the broker awaits further evidence of sustained margin expansion through the commodities upswing.

Improving recontracting prospects and exposure to gold, lithium and uranium are viewed as supportive. Overweight retained, with the target price increased to $6.30 from $4.90.

This report was published on February 19, 2026.

Target price is $6.30 Current Price is $6.40 Difference: minus $0.1 (current price is over target).
If NWH meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.76, suggesting upside of 4.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 19.80 cents and EPS of 40.00 cents.
At the last closing share price the estimated dividend yield is 3.09%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 37.7, implying annual growth of 522.1%.
Current consensus DPS estimate is 20.4, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 17.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 24.50 cents and EPS of 44.60 cents.
At the last closing share price the estimated dividend yield is 3.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.6, implying annual growth of 7.7%.
Current consensus DPS estimate is 22.3, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 16.0.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PFP    PROPEL FUNERAL PARTNERS LIMITED

Consumer Products & Services – Overnight Price: $4.40

Moelis rates ((PFP)) as Buy (1) –

1H26 trading conditions were softer than expected for Propel Funeral Partners, Moelis notes, with profit -4% below forecast. Organic volumes were flat year on year and average revenue per funeral (ARPF) growth is tracking below historical averages.

This reflects the lower ARPF profile of recent (NZ-weighted) acquisitions and FX, the broker points out.

2H26 comparables are materially easier, Moelis notes, but the last 12-24 months of post-covid normalisation highlights that the return to trend organic growth likely won’t be a linear recovery. The key swing factor is acquisitions.

Buy rating maintained, target trimmed to $5.28.

This report was published on March 3, 2026.

Target price is $5.28 Current Price is $4.40 Difference: $0.88
If PFP meets the Moelis target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $5.88, suggesting upside of 36.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 14.50 cents and EPS of 16.50 cents.
At the last closing share price the estimated dividend yield is 3.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.9, implying annual growth of 14.3%.
Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 25.4.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 14.80 cents and EPS of 17.80 cents.
At the last closing share price the estimated dividend yield is 3.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.8, implying annual growth of 11.2%.
Current consensus DPS estimate is 15.4, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 22.9.

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

PLS    PLS GROUP LIMITED

New Battery Elements – Overnight Price: $5.15

Jarden rates ((PLS)) as Neutral (3) –

PLS Group reported a stronger-than-expected 1H26, with Jarden estimating underlying earnings EBITDA of circa $271m, around 6% ahead of its forecast, despite reported NPAT of $33m missing on non-cash and non-recurring items.

FY26 guidance was unchanged, although operating costs are expected at the top end of $560–600/t as Ngungaju restart costs are largely expensed.

The Ngungaju concentrator restart adds circa 200ktpa SC5.2 from July 2026, supported by a 2–3 year offtake with Canmax including a US$100m prepayment and US$1,000/t floor price, while PLS will acquire full ownership of the midstream JV for $11m cash.

EBITDA forecasts are lifted 8% for FY26 and 14% for FY27 on higher near-term SC6 price assumptions, partly offset by a stronger AUD/USD forecast of 0.70.

 Neutral retained, and target price unchanged at $2.50.

This report was published on February 23, 2026.

Target price is $2.50 Current Price is $5.15 Difference: minus $2.65 (current price is over target).
If PLS meets the Jarden target it will return approximately minus 51% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.85, suggesting upside of 1.5%(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 12.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.8, implying annual growth of N/A.
Current consensus DPS estimate is 1.2, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 37.3.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 10.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 49.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.1, implying annual growth of 119.5%.
Current consensus DPS estimate is 4.6, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 17.0.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PWR    PETER WARREN AUTOMOTIVE HOLDINGS LIMITED

Automobiles & Components – Overnight Price: $1.54

Jarden rates ((PWR)) as Buy (1) –

Peter Warren Automotive delivered a 1H26 underlying profit before tax up 71% y/y, but -5.1% below Jarden and -1.6% below consensus, with revenue and gross margin slightly ahead but higher opex and interest weighing on margins.

Gross margin of 16.2% was stable and 5bps ahead of expectations, supported by strong used vehicle revenue growth of 16.3% y/y, while new vehicle revenue was flat amid competitive conditions.

FY26 and FY27 underlying EPS forecasts are trimmed reflecting slightly lower revenue assumptions and mix changes.

 Management highlighted inventory below 60 days and opportunities to lift front-end margins on underperforming OEMs, alongside M&A and Chinese OEM exposure as growth levers.

Buy retained, with the target price reduced to $2.50 from $2.60.

This report was published on February 20, 2026.

Target price is $2.50 Current Price is $1.54 Difference: $0.955
If PWR meets the Jarden target it will return approximately 62% (excluding dividends, fees and charges).
Current consensus price target is $1.98, suggesting upside of 34.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.80 cents and EPS of 12.60 cents.
At the last closing share price the estimated dividend yield is 5.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.9, implying annual growth of 69.3%.
Current consensus DPS estimate is 7.8, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 12.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 11.20 cents and EPS of 18.10 cents.
At the last closing share price the estimated dividend yield is 7.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.0, implying annual growth of 34.5%.
Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 9.2.

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

QBE    QBE INSURANCE GROUP LIMITED

Insurance – Overnight Price: $21.74

Jarden rates ((QBE)) as Neutral (3) –

Jarden highlights QBE Insurance’s 2025 adj net profit after tax was a beat, 6.5% above forecast and 3.6% ahead of consensus, supported by a core operating ratio (COR) of 91.9%, 20bps better than expected.

Gross written premium was 7% better than anticipated, but premium rates slowed to up 1%, implying a 4Q25 exit rate of -0.5% against low-to-mid single digit inflation.

Management guided to a FY26 COR of around 92.5%, with improvement expected from reinsurance and CAT budget, expenses and ex-CAT underwriting, though Jarden forecasts 92.8% and sees sustaining sub-93% beyond FY26 as challenging amid softening global rates.

EPS forecasts are lifted by 1.9% for FY26 and 5.5% for FY27. Neutral retained, with the target price increased to $22.00 from $21.30.

This report was published on February 20, 2026.

Target price is $22.00 Current Price is $21.74 Difference: $0.26
If QBE meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $24.06, suggesting upside of 12.1%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 108.00 cents and EPS of 177.37 cents.
At the last closing share price the estimated dividend yield is 4.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 186.4, implying annual growth of N/A.
Current consensus DPS estimate is 95.4, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 11.5.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 110.00 cents and EPS of 185.45 cents.
At the last closing share price the estimated dividend yield is 5.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 198.6, implying annual growth of 6.5%.
Current consensus DPS estimate is 102.7, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 10.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

QUB    QUBE HOLDINGS LIMITED

Transportation & Logistics – Overnight Price: $5.01

Jarden rates ((QUB)) as Neutral (3) –

Qube Holdings reported 1H26 Core NPATA of $158m, some -2% below consensus, with solid Operating Division performance offset by weaker Ports & Bulk, while Patrick remained a standout contributor, Jarden notes.

FY26 guidance was reiterated for “solid growth” in NPATA, now quantified at  6% to 10%, with lower net interest and a -$230m reduction in capex supporting stronger 2H free cash flow.

FY26–FY28 Core EPS forecasts are lowered by -6 to–7%.

Commentary states investment focus remains on the Macquarie Asset Management ((MQG)) all-cash $5.20 bid, with regulatory approvals expected over 4–6 months and potential special dividends of up to 40cps to coincide with deal proceeds.

No change to Neutral rating and $5 target.

This report was published on February 20, 2026.

Target price is $5.00 Current Price is $5.01 Difference: minus $0.01 (current price is over target).
If QUB meets the Jarden target it will return approximately minus 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.10, suggesting upside of 2.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.50 cents and EPS of 15.50 cents.
At the last closing share price the estimated dividend yield is 1.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.1, implying annual growth of 167.2%.
Current consensus DPS estimate is 10.9, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 29.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 11.70 cents and EPS of 18.70 cents.
At the last closing share price the estimated dividend yield is 2.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.0, implying annual growth of 11.1%.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 26.2.

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

RHC    RAMSAY HEALTH CARE LIMITED

Healthcare services – Overnight Price: $43.13

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

Ramsay Health Care has finalised its strategic review with a proposal to undertake an in-specie distribution of its 52.79% stake in Ramsay Sante, following limited buyer interest for an outright or partial sale.

The separation is expected by Jarden to be operationally clean, with Ramsay Sante operating a ring-fenced balance sheet and standalone debt facilities, and minimal shared services between the businesses.

The rationale is to simplify the group structure, de-gear the balance sheet and allow management to focus on an operational turnaround in Australia, where improving PHI indexation negotiations may support margin recovery.

The de-merger is targeted for implementation in December 2026, subject to shareholder and court approvals. Overweight retained, with an unchanged $40.60 target price.

This report was published on February 20, 2026.

Target price is $40.60 Current Price is $43.13 Difference: minus $2.53 (current price is over target).
If RHC meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $39.55, suggesting downside of -6.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 80.00 cents and EPS of 125.00 cents.
At the last closing share price the estimated dividend yield is 1.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 34.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 136.3, implying annual growth of 4504.7%.
Current consensus DPS estimate is 83.5, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 31.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 97.30 cents and EPS of 149.40 cents.
At the last closing share price the estimated dividend yield is 2.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 163.8, implying annual growth of 20.2%.
Current consensus DPS estimate is 101.2, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 25.9.

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

SHL    SONIC HEALTHCARE LIMITED

Healthcare services – Overnight Price: $23.86

Jarden rates ((SHL)) as Neutral (3) –

Jarden notes Healthcare’s 1H26 net proft after tax beat of 3.8% was largely due because of lower-than-guided depreciation following changes to LADR lease accounting, while revenue was 2.2% ahead of consensus but EBITDA margin missed by -50bps.

FY26 constant currency earnings (EBITDA) guidance of $1.87bn–$1.95bn was maintained, although a $37m FX tailwind in 1H is expected to reverse to an estimated -$30m headwind in 2H at current spot rates.

The US business recorded 0% organic growth following the loss of the Alabama payor contract, with further restructuring costs expected and the previously anticipated US$20–25m revenue collection benefit removed from forecasts.

Underlying diluted EPS forecasts are cut by -7.4%, -15.1% and -17.5% across FY26–FY28, reflecting weaker revenue, margin pressure and spot FX assumptions.

Neutral retained and target price reduced to $21.90 from $26.27.

This report was published on February 20, 2026.

Target price is $21.90 Current Price is $23.86 Difference: minus $1.96 (current price is over target).
If SHL meets the Jarden target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $25.41, suggesting upside of 8.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 108.00 cents and EPS of 116.30 cents.
At the last closing share price the estimated dividend yield is 4.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 124.3, implying annual growth of 16.2%.
Current consensus DPS estimate is 105.5, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 18.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 110.00 cents and EPS of 121.60 cents.
At the last closing share price the estimated dividend yield is 4.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 136.4, implying annual growth of 9.7%.
Current consensus DPS estimate is 108.0, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 17.2.

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

SKC    SKYCITY ENTERTAINMENT GROUP LIMITED

Gaming – Overnight Price: $0.71

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

Jarden highlights SkyCity Entertainment delivered a weak but as expected 1H26 result, with underlying earnings (EBITDA) down -28% and NPAT down -68%, reflecting the impact of mandatory carded play in NZ, NZICC pre-opening costs, online investment, and higher Adelaide costs.

Total revenue slipped -2%, with lower gaming revenue partly offset by growth in lower-margin non-gaming segments, while net debt reduced to NZ$594m and the covenant leverage ratio improved to 2.83x.

Management’s FY26 underlying earnings (EBITDA) guidance of NZ$190–210m was maintained, implying 2H skew supported by NZICC visitation and Adelaide cost reduction, with capex slightly lower than prior guidance.

Overweight retained with an unchanged NZ$1.00 target price.

This report was published on February 19, 2026.

Current Price is $0.71. Target price not assessed.
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 3.85 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.45.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 5.01 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.16.

This company reports in NZD. 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

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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