Daily Market Reports | 10:00 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)
A4N AHL AMC AMP APE AR1 ARB ASG AZJ BOT BWP C79 CAY CBE CCP CTM DUR FFM FPR GPT GTK (2) HMC HSN IFT IMD (2) JBH KLS LNW (2) MM1 MQG MTM NEU NIC NWS NXG OCL ORI PLY (2) PMT REA RRL RXL SKS SUL TAH VNT
A4N ALPHA HPA LIMITED
Aluminium, Bauxite & Alumina - Overnight Price: $0.68
Canaccord Genuity rates ((A4N)) as Speculative Buy (1) -
Canaccord Genuity maintains a Speculative Buy rating for Alpha HPA with an unchanged $1.20 target price following a site visit demonstrating strong progress on Stage 2 construction at the Gladstone facility.
The broker notes the flexible plant design allows the production of high-value gamma phase alumina products tailored for the rapidly growing semiconductor and lithium-ion battery markets.
Recent quarterly sales achieved pricing comfortably above US$28 per kilogram, easily exceeding the assumed US$24 to US$25 per kilogram base case model.
With $212m in cash on hand, the business remains well-funded to cover near-term capital expenditure before drawing down debt facilities ahead of expected commissioning in late FY27.
Earnings estimates remain unchanged reflecting confidence in the execution strategy and an expanding sales pipeline.
This report was published on May 8, 2026.
Target price is $1.20 Current Price is $0.68 Difference: $0.52
If A4N meets the Canaccord Genuity target it will return approximately 76% (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
AHL ADRAD HOLDINGS LIMITED
Automobiles & Components - Overnight Price: $1.23
Taylor Collison rates ((AHL)) as Buy (1) -
Taylor Collison maintains a Buy rating for Adrad with an unchanged $1.60 target price following evidence of strong business momentum and impending margin expansion driven by recent cost reduction measures.
The broker notes rising fuel prices present a minor near-term headwind for the distribution segment, offset by a surging data centre pipeline and the recent announcement of 300 new Bushmaster vehicles supplying a material tailwind from FY27.
Commentary states market leadership in Australian backup generator cooling solutions positions the business exceptionally well to capture increasing capital expenditure across mining, water, and defence channels while presenting a lucrative expansion opportunity into Asian markets.
Shares remain attractively priced relative to electrical peers, trading at a steep discount despite boasting long-term original equipment manufacturer relationships and dominant industrial market share.
Reflecting elevated copper and fuel costs against an improved forward volume outlook, FY26 earnings per share forecast is lowered by -4% to 10.1c and FY27 estimate is raised by 2% to 12.8c.
This report was published on May 1, 2026.
Target price is $1.60 Current Price is $1.23 Difference: $0.37
If AHL meets the Taylor Collison target it will return approximately 30% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 dividend of 4.00 cents and EPS of 10.10 cents.
At the last closing share price the estimated dividend yield is 3.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.18.
Forecast for FY27:
Taylor Collison forecasts a full year FY27 dividend of 5.10 cents and EPS of 12.80 cents.
At the last closing share price the estimated dividend yield is 4.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.61.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AMC AMCOR PLC
Paper & Packaging - Overnight Price: $54.86
Jarden rates ((AMC)) as Overweight (2) -
Jarden maintains an Overweight rating for Amcor and increases the target price to $75.90 from $75.00 following a third-quarter result matching market expectations.
Core earnings per share of US96.0c aligned with forecasts as volume declines across the Flexibles and Rigids divisions moderated to a -1.5% contraction.
The broker notes management lowered full-year free cash flow guidance to between US$1.5bn and US$1.6bn due to inventory retention, keeping financial leverage elevated in the near term.
Strong execution on merger integration continues to offset volume pressures, driving an increase in the full-year synergy target to US$270m.
To reflect the slower inventory unwind and minor volume adjustments, earnings per share forecasts are lowered to US400.2c from US402.2c in FY26, and to US432.9c from US437.3c in FY27.
One day earlier, Jarden responded as follows:
Jarden maintains an Overweight rating and a $75.00 target price for Amcor following a 3Q26 result in which core EPS of US96.0c landed broadly in line with expectations.
The broker notes management downgraded FY26 guidance for core EPS to US$3.98-US$4.03 (from US$4.00-US$4.15) and free cash flow to US$1,500m-US$1,600m (from US$1,800m-US$1,900m).
Volume weakness persisted in the Flexibles division with a -1.5% decline, while financial leverage lifted to 3.8x, prompting the broker to question the revised year-end leverage target of 3.4x-3.5x.
To help offset these headwinds, management lifted Berry M&A synergy targets by US$10m to US$270m and lowered the effective tax rate guidance to 16%-17%.
Higher corporate costs acted as a drag during the period, although lower-than-forecast depreciation and amortisation provided some structural support to the bottom line, the report points out.
This report was published on May 7, 2026.
Target price is $75.90 Current Price is $54.86 Difference: $21.04
If AMC meets the Jarden target it will return approximately 38% (excluding dividends, fees and charges).
Current consensus price target is $69.71, suggesting upside of 27.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 394.36 cents and EPS of 599.82 cents.
At the last closing share price the estimated dividend yield is 7.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 551.6, implying annual growth of N/A.
Current consensus DPS estimate is 358.5, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 9.9.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 405.25 cents and EPS of 645.93 cents.
At the last closing share price the estimated dividend yield is 7.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 599.3, implying annual growth of 8.6%.
Current consensus DPS estimate is 359.4, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 9.2.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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