Daily Market Reports | 11:36 AM
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)
AEL BET BMN CNB CSL CSX CYG EDV ELD FLC GHM GNP MSB MYE ORA ORE PDN SLS SNZ TCL TLC WEB WRK
TLC LOTTERY CORPORATION LIMITED
Gaming - Overnight Price: $5.32
Jarden rates ((TLC)) as Overweight (2) -
Lottery Corp has made changes to its operating model designed to accelerate growth, which Jarden finds significant.
The changes reflect a reset of the business rather than just cosmetic restructuring, commentary concludes, with distinct business units that have explicit growth mandates and clear P&L accountability.
A stand-alone digital business with the remit to drive digital lottery sales and deliver "world-class app and web experiences" could accelerate structural digital penetration, the broker points out, while lottteries has upside risk and is a primary growth lever for the business.
No additional information on personnel or cost imposts was announced. Overweight rating and $5.60 target maintained.
This report was published on March 5, 2026.
Target price is $5.60 Current Price is $5.32 Difference: $0.28
If TLC meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $5.78, suggesting upside of 8.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 16.50 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 3.10%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.29.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.2, implying annual growth of 4.7%.
Current consensus DPS estimate is 17.4, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 31.0.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 18.00 cents and EPS of 20.20 cents.
At the last closing share price the estimated dividend yield is 3.38%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.34.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.1, implying annual growth of 16.9%.
Current consensus DPS estimate is 20.3, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 26.5.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WEB WEB TRAVEL GROUP LIMITED
Travel, Leisure & Tourism - Overnight Price: $2.85
Canaccord Genuity rates ((WEB)) as Buy (1) -
The CFO of Web Travel, Tony Ristevski, has withdrawn his resignation and will remain with the company.
Canaccord Genuity notes the departure had created angst among some shareholders, with the uncertainty surrounding prospective issues within the accounts or outlook.
The broker did not hold this view, suspecting the resignation was related to personal matters and, while not sure about the exact process to reverse the decision, considers it a positive outcome.
Notwithstanding this development, the share price is materially weaker given the commencement of military action in the Middle East and subsequent booking patterns.
Minimal impact is expected in FY26 and there may be some impact in FY27 depending on how long the war continues.
Canaccord Genuity considers, even with the disruption in the Middle East, the worst-case scenario is Web Travel grows more slowly at a group level as that region acts as a drag against continued strong transaction growth in other areas.
Buy rating and $6.40 target unchanged.
This report was published on March 2, 2026.
Target price is $6.40 Current Price is $2.85 Difference: $3.55
If WEB meets the Canaccord Genuity target it will return approximately 125% (excluding dividends, fees and charges).
Current consensus price target is $5.73, suggesting upside of 105.3%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 23.8, implying annual growth of -54.4%.
Current consensus DPS estimate is 1.7, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 11.7.
Forecast for FY27:
Current consensus EPS estimate is 32.1, implying annual growth of 34.9%.
Current consensus DPS estimate is 2.5, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 8.7.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WRK WRKR LIMITED
Overnight Price: $0.12
Research as a Service (RaaS) rates ((WRK)) as No Rating (-1) -
Wrkr, which offers compliance solutions for Australian superannuation contributions and payroll, has completed the acquisition of PaidRight, a payroll compliance software company.
Research as a Service (RaaS) notes the acquisition is strategic, and the company is likely to benefit from up-selling opportunities from MUFG clients migrating to WRK Pay.
The first half result provided revenue and EBITDA that was above forecasts, while costs increased in readiness for new client onboarding during the second half.
Incorporating the acquisition into its numbers, the analyst reduces earnings assumptions by -8% for FY27 and increases FY29 by 15%. Valuation increases to $0.125 from $0.110.
Research as a Service (RaaS) research doesn't carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on March 5, 2026.
Target price is $0.13 Current Price is $0.12 Difference: $0
If WRK meets the Research as a Service (RaaS) target it will return approximately 0% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.17 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 73.53.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.56 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.32.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.
This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.