Daily Market Reports | 12:25 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.
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
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ANG ANZ APZ AUE CPU CUP EBR EMR MM1 MQG NAB TLX WBC
ANG AUSTIN ENGINEERING LIMITED
Mining Sector Contracting - Overnight Price: $0.17
Shaw and Partners rates ((ANG)) as Buy (1) -
Shaw and Partners resumes research coverage on Austin Engineering with a Buy rating and a $0.40 price target.
The broker reduces the target price to $0.40 from $0.60 following significant operational challenges in Chile and North America which led to a material decline in EBITDA margins.
While management has taken remedial actions including restructuring and leadership changes, visibility for the margin recovery remains a key focus.
The broker observes industry long-term fundamentals remain intact, supported by current commodity prices and a material discount to peers.
Financial forecasts have been downgraded by -54% for FY26 and -34% for FY27 to reflect recent guidance and a medium-term focus on restoring profitability.
This report was published on April 13, 2026.
Target price is $0.40 Current Price is $0.17 Difference: $0.225
If ANG meets the Shaw and Partners target it will return approximately 129% (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 0.50 cents and EPS of 1.60 cents.
At the last closing share price the estimated dividend yield is 2.86%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.94.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.90 cents and EPS of 3.10 cents.
At the last closing share price the estimated dividend yield is 5.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.65.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ANZ ANZ GROUP HOLDINGS LIMITED
Banks - Overnight Price: $38.84
Jarden rates ((ANZ)) as Overweight (2) -
Ahead of the bank reporting season Jarden observes volumes should be strong while initial rate rises will support net interest margins and will not hurt treasury and markets. Asset quality has been benign.
The broker suspects banks will likely promote the AI efficiency dividend but will remain cautious about revenue pressure from both agentic AI and Stablecoins. Blockchain presents a material efficiency dividend as well, the broker adds.
ANZ Bank volumes have been weak as it addresses operating performance issues and Jarden looks for updates on the integration of the Suncorp bank acquisition and progress on cost reductions. Overweight rating and $35 target.
This report was published on April 13, 2026.
Target price is $35.00 Current Price is $38.84 Difference: minus $3.84 (current price is over target).
If ANZ meets the Jarden target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $35.96, suggesting downside of -6.9%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 166.00 cents and EPS of 252.70 cents.
At the last closing share price the estimated dividend yield is 4.27%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 251.1, implying annual growth of 26.7%.
Current consensus DPS estimate is 168.0, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 15.4.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 168.00 cents and EPS of 272.00 cents.
At the last closing share price the estimated dividend yield is 4.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 257.6, implying annual growth of 2.6%.
Current consensus DPS estimate is 174.8, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 15.0.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APZ ASPEN GROUP LIMITED
Real Estate - Overnight Price: $4.89
Moelis rates ((APZ)) as Upgrade to Buy from Hold (1) -
Moelis upgrades its rating on Aspen Group to Buy from Hold while maintaining a $5.98 price target following the recent share price decline.
The broker considers the -20% retreat since February an attractive entry point as the company delivers strong operational results.
Operating earnings per share for the first nine months reached 17.6c, representing 82% of the unchanged full-year guidance of 21.5c.
While macro uncertainty following conflict in the Middle East presents a risk to interest rates, the broker expects resilient rental income and development settlements to underpin the operational performance.
Estimates were slightly adjusted to account for higher funding costs, partially offset by more optimistic leasing assumptions.
This report was published on April 10, 2026.
Target price is $5.98 Current Price is $4.89 Difference: $1.09
If APZ meets the Moelis target it will return approximately 22% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 11.40 cents and EPS of 21.50 cents.
At the last closing share price the estimated dividend yield is 2.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.74.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 12.50 cents and EPS of 22.80 cents.
At the last closing share price the estimated dividend yield is 2.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.45.
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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