Daily Market Reports | 10:30 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
By Rudi Filapek-Vandyck
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 ASX BRE BUB FCL GGP IFT MAF RFG SGM WBC
MAF MA FINANCIAL GROUP LIMITED
Wealth Management & Investments - Overnight Price: $7.19
Canaccord Genuity rates ((MAF)) as Buy (1) -
Canaccord Genuity has initiated coverage on MA Financial Group with a Buy rating and a 11.30 price target.
The broker highlights the significant growth potential in the company's diversified financial services model, particularly the rapid expansion of its residential mortgage book and asset management divisions.
While broader market volatility remains a factor for performance fees, the analyst sees the current valuation as an attractive entry point given the strong 100% year-on-year growth in the MA Money loan book and the scaling of the hospitality and credit platforms.
This report was published on March 26, 2026.
Target price is $11.30 Current Price is $7.19 Difference: $4.11
If MAF meets the Canaccord Genuity target it will return approximately 57% (excluding dividends, fees and charges).
Current consensus price target is $11.28, suggesting upside of 56.9%(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 28.30 cents.
At the last closing share price the estimated dividend yield is 2.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.41.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 3.9%.
Current consensus EPS estimate suggests the PER is 15.0.
Forecast for FY27:
Canaccord Genuity forecasts a full year FY27 dividend of 24.00 cents and EPS of 36.20 cents.
At the last closing share price the estimated dividend yield is 3.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.86.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 4.7%.
Current consensus EPS estimate suggests the PER is 12.4.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RFG RETAIL FOOD GROUP LIMITED
Food, Beverages & Tobacco - Overnight Price: $1.02
Shaw and Partners rates ((RFG)) as Buy (1) -
Shaw and Partners maintains a Buy rating and $2.00 price target for Retail Food Group in a late follow up to the release of 1H26 financials.
The broker is looking past a transitional FY26 toward FY27, when a decentralized operating structure and significant restructuring —expected to deliver -$5–$7m in cost savings— take full effect.
While same-store sales have shown resilience, the future valuation is tied to the successful rollout of the Firehouse Subs growth option, targeting 15 stores within three years.
This report was published on March 26, 2026.
Target price is $2.00 Current Price is $1.02 Difference: $0.98
If RFG meets the Shaw and Partners target it will return approximately 96% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 13.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.67.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 16.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.26.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SGM SIMS LIMITED
Steel & Scrap - Overnight Price: $19.75
Jarden rates ((SGM)) as Upgrade to Overweight from Neutral (2) -
Jarden has upgraded Sims Ltd to Overweight from Neutral and increased the price target to 23.00 following the second US investor day focused on Sims Lifecycle Services (SLS).
Commentary explains the upgrade is driven by incremental disclosures pointing to further near-term earnings upside in SLS, supported by strong pricing tailwinds in repurposed DDR4 memory modules.
Management expects this demand tail to persist for three to four years.
Additionally, improved outlooks for the Metals business and a valuation trading at the lower end of historical forward multiple ranges are seen providing a favourable entry point for investors.
This report was published on March 26, 2026.
Target price is $23.00 Current Price is $19.75 Difference: $3.25
If SGM meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $22.08, suggesting upside of 11.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 29.00 cents and EPS of 114.10 cents.
At the last closing share price the estimated dividend yield is 1.47%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 94.5, implying annual growth of N/A.
Current consensus DPS estimate is 36.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 20.9.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 38.00 cents and EPS of 148.90 cents.
At the last closing share price the estimated dividend yield is 1.92%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 134.0, implying annual growth of 41.8%.
Current consensus DPS estimate is 43.0, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 14.7.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE
If you already had your free trial, why not join as a paying subscriber? CLICK HERE