Daily Market Reports | 11:02 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.
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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 APE ASG BRE FCL (2) HMY KCN MAF PWR TLS
KCN KINGSGATE CONSOLIDATED LIMITED
Gold & Silver - Overnight Price: $4.62
Moelis rates ((KCN)) as Hold (3) -
Kingsgate Consolidated has provided an operating update for Chatree. Fuel supply has been maintained through proactive procurement and inventory management.
Thee company has stated operations are uninterrupted and fuel availability is not currently affecting production.
Moelis suspects the company is potentially less exposed to fuel problems compared with Australian counterparts, given Thailand has substantially larger refining capacity and Chatree has status as a sole large-scale operation.
Kingsgate Consolidated has also revealed the Thai environmental court has ruled subsidiary Akara must pay up to -$3m relating to a 2016 class action and will appeal the ruling.
The broker suspects the disclosure of an ongoing legal issue will create a greater impact on the share price than the overall tenor of the claim.
The announcement is labeled as unfortunate. Hold rating and $6.85 target.
This report was published on March 26, 2026.
Target price is $6.85 Current Price is $4.62 Difference: $2.23
If KCN meets the Moelis target it will return approximately 48% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 10.00 cents and EPS of 74.90 cents.
At the last closing share price the estimated dividend yield is 2.16%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.17.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 102.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.50.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MAF MA FINANCIAL GROUP LIMITED
Wealth Management & Investments - Overnight Price: $7.52
Canaccord Genuity rates ((MAF)) as Initiation of coverage with Buy (1) -
Canaccord Genuity initiates coverage of MA Financial with a Buy rating and $11.30 target. After a period of subdued operating leverage, the broker suspects the FY25 results marked an inflection point.
The forthcoming year is expected to deliver a material earnings growth story and, while acknowledging there is some private credit "angst" in the market, the broker expects another strong year from MA Money, Finsure and real estate.
Canaccord Genuity is "very impressed" with the IP Generation asset and the medium-term outlook for performance fees in real estate.
This report was published on March 26, 2026.
Target price is $11.30 Current Price is $7.52 Difference: $3.78
If MAF meets the Canaccord Genuity target it will return approximately 50% (excluding dividends, fees and charges).
Current consensus price target is $11.28, suggesting upside of 50.8%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 20.00 cents and EPS of 46.00 cents.
At the last closing share price the estimated dividend yield is 2.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.35.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 48.0, implying annual growth of 669.2%.
Current consensus DPS estimate is 27.8, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 15.6.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 30.00 cents and EPS of 59.00 cents.
At the last closing share price the estimated dividend yield is 3.99%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.0, implying annual growth of 20.8%.
Current consensus DPS estimate is 33.6, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 12.9.
Market Sentiment: 0.8
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: $1.35
Jarden rates ((PWR)) as Buy (1) -
Jarden sees a modest positive for auto dealers with high exposure to European vehicle sales following recent Australian government announcements.
A new trade deal with Europe includes removal of the 5% import tariff and an increase in the Luxury Car Tax (LCT) threshold for EVs to $120,000 from $91,000.
While partly anticipated, the broker expects Autosports Group to benefit most, with a smaller impact for Peter Warren Automotive.
Eagers Automotive' exposure is seen as lower again, with the analysts noting the absence of a detailed OEM breakdown for the group.
The $2.50 target and Buy rating are maintained for Peter Warren Automotive.
This report was published on March 24, 2026.
Target price is $2.50 Current Price is $1.35 Difference: $1.15
If PWR meets the Jarden target it will return approximately 85% (excluding dividends, fees and charges).
Current consensus price target is $1.92, suggesting upside of 42.0%(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 5.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.71.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 5.8%.
Current consensus EPS estimate suggests the PER is 11.3.
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 8.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.46.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 7.8%.
Current consensus EPS estimate suggests the PER is 8.4.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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