Daily Market Reports | 1:29 PM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
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COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AEL (2) ALC APX ASG ATA AX1 CCX CNI CUV DDR DMP EBO ELV EML EOL EQR FCL FLT (2) FMG HLO HMC IMR IRE JIN LNW (2) LRK MTO NDO NXT RDY SCG SDF SDR SDV SIG SKT SSM SUL TAH VAU VSL WDS WOW WPR WTC
AEL AMPLITUDE ENERGY LIMITED
Crude Oil - Overnight Price: $2.57
Canaccord Genuity rates ((AEL)) as Buy (1) -
Amplitude Energy delivered a solid 1H26 beat, Canaccord Genuity notes, reporting record production, revenue, earnings and operating cash. This positive operating performance was reinforced by an upgrade to FY26 production guidance of 5%.
With the market now heavily discounting Amplitude's Otway exploration campaign, the broker views current levels as highly attractive for a company which is catalyst-rich in the near term.
Questions around the Elanora false positive remain and initial results from Isabella are expected imminently, but East Coast Supply Project production is backstopped by Annie, Canaccord points out.
Buy and $3.35 target retained.
This report was published on February 26, 2026.
Target price is $3.35 Current Price is $2.57 Difference: $0.78
If AEL meets the Canaccord Genuity target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $3.23, suggesting upside of 23.9%(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 20.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.0, 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 12.4.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 22.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.9, implying annual growth of 28.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.7.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((AEL)) as Overweight (2) -
Amplitude Energy is executing well Jarden believes, delivering a record first half financial and operating result that was ahead of expectations. The company has lifted FY26 production cost guidance, also targeting additional cost cutting opportunities.
The broker notes the results from the Isabella exploration well are due. The issue, Jarden notes, is why the failed well at Elanora does not impact Isabella's chance of success.
Management is investigating why, citing a "gas thief zone" as a possible reason, although the investigation will take months to complete.
If Isabella is not successful, Jarden expects the market will discount the remainder of the program, despite the stated independence of the prospects.
Overweight maintained. Target rises to $2.75 from $2.67.
This report was published on February 25, 2026.
Target price is $2.75 Current Price is $2.57 Difference: $0.18
If AEL meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $3.23, suggesting upside of 23.9%(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 18.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.89.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.0, 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 12.4.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 30.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.43.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.9, implying annual growth of 28.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.7.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALC ALCIDION GROUP LIMITED
Healthcare services - Overnight Price: $0.10
Canaccord Genuity rates ((ALC)) as Buy (1) -
Alcidion Group’s 1H26 result impressed Canaccord Genuity, beating on earnings. FY26 guidance is reconfirmed.
Gross margin declined -460bps year on year due to higher third-party sales which carry a higher cost component. The broker expects this impact to persist into 2H given the Sussex (UHSx) contract profile, but believes margins should normalise over the longer term.
Importantly, Canaccord notes annual recurring revenue was up 41% year on year, and now begins to cover a well-controlled opex base.
Buy and 13c target retained.
This report was published on February 26, 2026.
Target price is $0.13 Current Price is $0.10 Difference: $0.032
If ALC meets the Canaccord Genuity target it will return approximately 33% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APX APPEN LIMITED
IT & Support - Overnight Price: $1.56
Canaccord Genuity rates ((APX)) as Buy (1) -
Appen's comprehensive Q4 update in late January meant that the FY26 outlook statement was the principal new information in the full year release, Canaccord Genuity reports.
In a change from recent years, and perhaps a sign of increased confidence, Appen opted to offer full year revenue and earnings guidance, albeit with a wide range and, in the broker's view, plenty of conservatism built in.
The market responded positively to the guidance, which Canaccord believes was well above consensus estimates, especially on earnings. The shares trade on enterprise value multiples which the broker estimates are much lower than peers.
Target rises to $2.30 from $1.80, Buy retained.
This report was published on February 26, 2026.
Target price is $2.30 Current Price is $1.56 Difference: $0.74
If APX meets the Canaccord Genuity target it will return approximately 47% (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 1.37 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 113.70.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 8.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.80.
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASG AUTOSPORTS GROUP LIMITED
Automobiles & Components - Overnight Price: $2.86
Jarden rates ((ASG)) as Overweight (2) -
Autosports Group will acquire South Australian dealer group Solitaire Auto Group for around -$50m, comprising -$25m in cash and the balance in scrip issued at $3.46 per share. Completion is expected in April 2026 subject to regulatory and OEM approvals.
Jarden highlights Solitaire generates around $300m in turnover and will expand Autosports’ presence in prestige and luxury brands including Aston Martin, Jaguar, Land Rover, Volvo and Audi.
The transaction not only provides Autosports with sole retailer exposure to several luxury brands in South Australia, but also strengthens relationships with Geely Group brands including Volvo, Polestar and Zeekr, highlight the analysts.
As the acquisition is not yet included in forecasts, Jarden retains an Overweight rating with an unchanged $4.05 target price.
This report was published on February 26, 2026.
Target price is $4.05 Current Price is $2.86 Difference: $1.19
If ASG meets the Jarden target it will return approximately 42% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 10.80 cents and EPS of 24.80 cents.
At the last closing share price the estimated dividend yield is 3.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.53.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 13.40 cents and EPS of 30.50 cents.
At the last closing share price the estimated dividend yield is 4.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.38.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ATA ATTURRA LIMITED
Software & Services - Overnight Price: $0.56
Moelis rates ((ATA)) as Buy (1) -
Atturra's first-half revenue of $180.6m and underlying earnings (EBITDA) of $7.3m exceeded Moelis’ forecasts of $170.6m and $6.8m, respectively, and were within the guidance range.
The broker expects the operating performance to normalise in H2, with FY26 guidance for revenue of $364-$374m and earnings (EBITDA) of $30-$31m implying a strong second half.
The balance sheet remains well capitalised with around $58m in cash, suggests the analyst, supporting both organic and inorganic growth opportunities across AI, cyber, cloud and data.
FY26-28 earnings forecasts are adjusted by -1.0%, 2.4% and 3.0%, respectively. Margins are expected to return to the historical over 10.5% target by FY27.
Target price for Atturra raised to $0.85 from $0.83. Buy rating retained.
This report was published on February 27, 2026.
Target price is $0.85 Current Price is $0.56 Difference: $0.29
If ATA meets the Moelis target it will return approximately 52% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.00.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 6.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.89.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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