Australian Broker Call *Extra* Edition – Mar 26, 2026

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            [0] => ((AEL))
            [1] => ((APE))
            [2] => ((ASG))
            [3] => ((BRE))
            [4] => ((FCL))
            [5] => ((FCL))
            [6] => ((HMY))
            [7] => ((KCN))
            [8] => ((MAF))
            [9] => ((PWR))
            [10] => ((TLS))
        )

    [1] => Array
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            [0] => AEL
            [1] => APE
            [2] => ASG
            [3] => BRE
            [4] => FCL
            [5] => FCL
            [6] => HMY
            [7] => KCN
            [8] => MAF
            [9] => PWR
            [10] => TLS
        )

)

This story features AMPLITUDE ENERGY LIMITED, and other companies.
For more info SHARE ANALYSIS: AEL
The company is included in 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)

AEL   APE   ASG   BRE   FCL (2)   HMY   KCN   MAF   PWR   TLS  

AEL    AMPLITUDE ENERGY LIMITED

Crude Oil – Overnight Price: $1.69

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

Amplitude Energy has reported a strong peak flow of 60mmscf/d at Isabella yet, when shut in, pressure failed to rebuild in line with forecasts.

Canaccord Genuity explains this indicates the well has intersected a non-commercial gas volume.

The company remains confident in Juliet and Nestor, which have simpler geology, although Canaccord Genuity notes the market is sceptical.

Expectations are adjusted for the result at Isabella while the broker retains a Buy rating, reducing its target to $3.00 from $3.65.

This report was published on March 25, 2026.

Target price is $3.00 Current Price is $1.69 Difference: $1.31
If AEL meets the Canaccord Genuity target it will return approximately 78% (excluding dividends, fees and charges).
Current consensus price target is $3.23, suggesting upside of 86.8%(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 20.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.20.

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 8.2.

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 7.58.

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 6.4.

Market Sentiment: 0.5
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: $22.83

Jarden rates ((APE)) as Neutral (3) –

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’s exposure is seen as lower again, with the analysts noting the absence of a detailed OEM breakdown for the group.

The $26.10 target and Neutral rating are maintained for Eagers Automotive.

This report was published on March 24, 2026.

Target price is $26.10 Current Price is $22.83 Difference: $3.27
If APE meets the Jarden target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $30.43, suggesting upside of 34.4%(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 4.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.81.

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 18.8.

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 4.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.09.

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 4.0%.
Current consensus EPS estimate suggests the PER is 16.7.

Market Sentiment: 0.8
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: $2.58

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

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’s exposure is seen as lower again, with the analysts noting the absence of a detailed OEM breakdown for the group.

The $4.05 target and Overweight rating are maintained for Autosports Group.

This report was published on March 24, 2026.

Target price is $4.05 Current Price is $2.58 Difference: $1.47
If ASG meets the Jarden target it will return approximately 57% (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 4.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.40.

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 5.19%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.46.

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

BRE    BRAZILIAN RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $4.50

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

Canaccord Genuity highlights Brazilian Rare Earths has been granted a trial mining licence which represents a strong endorsement of its project and de-risks the permit pathway.

The next milestone is submitting an economic development plan which, subject to approval, will support delivery of a full mining concession.

The broker looks forward to the delivery of the scoping study and a maiden mineral resource as a key valuation catalyst. Speculative Buy rating and $8 target retained.

This report was published on March 25, 2026.

Target price is $8.00 Current Price is $4.50 Difference: $3.5
If BRE meets the Canaccord Genuity target it will return approximately 78% (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

FCL    FINEOS CORPORATION HOLDINGS PLC

Cloud services – Overnight Price: $2.40

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

Fineos Corp has reiterated a focus on embedded AI implementation within its products, noting a substantial pipeline within existing customers as a key growth driver and emphasising improved admin productivity and reduced human error.

A medium-size contract win with an existing customer for the AdminSuite policy, billing & claims has been confirmed. Guidance is unchanged.

Canaccord Genuity notes the company’s extensive industry experience in encoded industry rules, providing mission-critical software to insurance customers that are hypersensitive to reliability, strength and safety and retains a Buy rating and $3.50 target.

This report was published on March 25, 2026.

Target price is $3.50 Current Price is $2.40 Difference: $1.1
If FCL meets the Canaccord Genuity target it will return approximately 46% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 3.16 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 76.02.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 EPS of 4.38 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 54.74.

This company reports in EUR. 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

Moelis rates ((FCL)) as Buy (1) –

Following a platform update by Fineos Corp, Moelis notes ongoing growth in subscription revenue, with services revenue declining as the mix shifts.

The analyst observes the revenue model scales with customer volumes, while AI adoption should drive insurers toward modern platforms.

Margin expansion is seen as a key driver, supported by cost control. Management targets 25% earnings margins by 2027 and 40% by 2029.

Currency headwinds are expected in 1H26 before easing, with ongoing client wins supporting growth momentum.

Target $3.16. Buy.

This report was published on March 26, 2026.

Target price is $3.16 Current Price is $2.40 Difference: $0.76
If FCL meets the Moelis target it will return approximately 32% (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 2.11 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 114.01.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 3.33 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 72.03.

This company reports in EUR. 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

HMY    HARMONEY CORP LIMITED

Diversified Financials – Overnight Price: $0.73

Moelis rates ((HMY)) as Initiation of coverage with Buy (1) –

Moelis initiates research coverage on Harmoney with a Buy rating, citing strong loan growth supported by its Stellare platform and expansion into new lending verticals.

The company’s direct-to-consumer model, diversified funding mix and stable credit quality are seen as underpinning sustainable margins.

The broker highlights improving operating efficiency, with a declining cost-to-income ratio supporting cash profit growth as scale benefits emerge.

Strong alignment with shareholder outcomes is noted, reinforced through management incentives targeting high ROE and EPS growth.

Moelis sets a target of $1.28.

This report was published on March 25, 2026.

Target price is $1.28 Current Price is $0.73 Difference: $0.55
If HMY meets the Moelis target it will return approximately 75% (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 12.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.75.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.42.

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

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

TLS    TELSTRA GROUP LIMITED

Telecommunication – Overnight Price: $5.32

Jarden rates ((TLS)) as Neutral (3) –

Telstra Group’s broad-based mobile price increases are slightly ahead of Jarden’s expectations, supporting upgrades to FY27-28 forecast earnings and de-risking the outlook.

It is believed growth will be driven by higher mobile pricing, ongoing cost discipline and inflation-linked NBN revenue.

The broker highlights industry-wide repricing across lower-value segments reinforces a more rational pricing environment, supporting sustainable revenue growth.

Churn risks remain tied to price retention and subscriber trends, the analysts explain, though pricing gains help offset structural pressures.

The target for Telstra Group rises to $5.05 from $4.95. Neutral rating maintained.

This report was published on March 24, 2026.

Target price is $5.05 Current Price is $5.32 Difference: minus $0.27 (current price is over target).
If TLS meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.32, suggesting downside of -0.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 21.00 cents and EPS of 20.30 cents.
At the last closing share price the estimated dividend yield is 3.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.7, implying annual growth of 9.8%.
Current consensus DPS estimate is 20.8, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 25.9.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 23.00 cents and EPS of 21.80 cents.
At the last closing share price the estimated dividend yield is 4.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.1, implying annual growth of 6.8%.
Current consensus DPS estimate is 21.7, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 24.3.

Market Sentiment: 0.4
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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