Daily Market Reports | 10:30 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)
AIA ALQ ASG ATA BTL CSL (2) D3E DUG FCL HPG ING IOD KYP M7T MTS NWS PEB PME RDY SHA
AIA AUCKLAND INTERNATIONAL AIRPORT LIMITED
Infrastructure & Utilities - Overnight Price: $6.88
Jarden rates ((AIA)) as Neutral (3) -
Jarden maintains a Neutral rating for Auckland International Airport and reduces the target price to NZ$7.94 from NZ$7.97 following further airline capacity cuts in response to elevated jet fuel costs.
Currently scheduled international seat capacity for the second half of FY26 has declined by -4.4%, while domestic capacity has fallen -3.9% compared to pre-conflict levels.
Passenger volumes are holding up well with load factors lifting materially, positioning the business to comfortably achieve FY26 underlying profit guidance, according to the report.
The aeronautical price path has been updated to push price increases back to align with the deferred 2029 commissioning of the domestic jet terminal, resulting in roughly -NZ$800m of revenue being shifted into later regulatory periods.
Normalised earnings per share forecasts have been revised to NZ17.23c in FY26, NZ20.70c in FY27, and NZ25.45c in FY28.
This report was published on May 11, 2026.
Current Price is $6.88. Target price not assessed.
Current consensus price target is $7.26, suggesting upside of 5.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 11.82 cents and EPS of 15.09 cents.
At the last closing share price the estimated dividend yield is 1.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 45.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.1, implying annual growth of N/A.
Current consensus DPS estimate is 10.9, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 45.6.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 12.70 cents and EPS of 18.13 cents.
At the last closing share price the estimated dividend yield is 1.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 37.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.8, implying annual growth of 4.6%.
Current consensus DPS estimate is 11.4, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 43.5.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALQ ALS LIMITED
Industrial Sector Contractors & Engineers - Overnight Price: $21.34
Jarden rates ((ALQ)) as Underweight (4) -
Jarden maintains an Underweight rating for ALS Ltd and lowers the target price to $18.10 from $18.40 ahead of the impending full-year earnings release.
The report notes the upcoming result will focus heavily on the Commodities division, where underlying earnings growth is expected to accelerate relative to the first half.
The broker anticipates the Life Sciences division will also show improvement, supported by a return to growth for Nuvisan and a potential turnaround for York.
Looking toward FY27, management's outlook may face scrutiny regarding margin sustainability and potential negative impacts from foreign exchange translation, according to the report.
Earnings per share forecasts stand at 74.2c in FY26, 86.6c in FY27, and 95.8c in FY28.
This report was published on May 11, 2026.
Target price is $18.10 Current Price is $21.34 Difference: minus $3.24 (current price is over target).
If ALQ meets the Jarden target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $25.70, suggesting upside of 20.4%(ex-dividends)
The company's fiscal year ends in March.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 74.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 73.3, implying annual growth of 38.5%.
Current consensus DPS estimate is 42.3, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 29.1.
Forecast for FY27:
Jarden forecasts a full year FY27 EPS of 86.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 87.0, implying annual growth of 18.7%.
Current consensus DPS estimate is 49.9, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 24.5.
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: $2.36
Moelis rates ((ASG)) as Buy (1) -
Moelis maintains a Buy rating for Autosports Group with a $3.43 target price following an update on trading conditions.
Robust demand for battery electric vehicles is driving a record order bank, although the broker notes near-term earnings face margin compression as elevated staffing costs precede a surge in vehicle deliveries expected during FY27.
A rapid transition toward electric models has created excess supply for internal combustion engine vehicles, potentially weighing on margins through discounting, alongside broader macroeconomic headwinds and higher interest costs.
Despite these challenges, the report suggests the company's luxury market demographic provides insulation from cost-of-living pressures, positioning the business to capture long-term growth and pursue further strategic acquisitions.
Reflecting recent dilution from the Solitaire Group acquisition and rising costs, earnings per share forecasts have been downgraded by -5% to -9%, establishing estimates of 24.6c in FY26, 29.2c in FY27, and 35.1c in FY28.
This report was published on May 12, 2026.
Target price is $3.43 Current Price is $2.36 Difference: $1.07
If ASG meets the Moelis target it will return approximately 45% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 9.70 cents and EPS of 24.60 cents.
At the last closing share price the estimated dividend yield is 4.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.59.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 11.40 cents and EPS of 29.20 cents.
At the last closing share price the estimated dividend yield is 4.83%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.08.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ATA ATTURRA LIMITED
Software & Services - Overnight Price: $0.46
Shaw and Partners rates ((ATA)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Atturra with an unchanged $1.15 target price following a confident update at the TechRise Conference.
Chief Executive Officer Stephen Kowal reaffirmed FY26 guidance, noting the business is returning to growth in the second half.
Commentary states accelerating demand across data, security, and artificial intelligence-readiness consulting is offsetting weakness in other divisions, underpinning confidence heading into FY27 and FY28.
Margins are expected to benefit from recent restructuring initiatives and automation-led efficiencies within managed services, alongside improving cross-selling traction and stronger momentum across proprietary software products.
The current valuation appears highly undemanding to the broker, with the stock trading on an FY27 enterprise value-to-cash earnings multiple of just 4.4x compared to the 12.0x multiple implied by the target price.
This report was published on May 12, 2026.
Target price is $1.15 Current Price is $0.46 Difference: $0.69
If ATA meets the Shaw and Partners target it will return approximately 150% (excluding dividends, fees and charges).
Forecast for FY26:
Shaw and Partners forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.14.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.79.
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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