Daily Market Reports | 11:10 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)
AFP AGE ALC (2) AQI ASG BML CAR CAT CDA COI DUG EOL FLC GMD GTK (2) HGO (2) ILA IMR (2) IPG (2) MIN MYE NCK OBM OML PLT PSC REA SEK SNT SSM TLS TWR VGL (2)
AFP AFT PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences - Overnight Price: $3.05
Jarden rates ((AFP)) as Overweight (2) -
Jarden retains an Overweight rating for AFT Pharmaceuticals with its target price increased to NZ$4.25 from NZ$4.20 following the FY26 results.
The company reported a 22% increase in revenue to NZ$255m alongside operating earnings of NZ$24.4m, outperforming both guidance and broker expectations.
Asian market disruptions from the previous period have normalised, and international operating losses narrowed as revenues scaled, though elevated inventories weighed on cash flows and net debt.
Management provided FY27 revenue guidance exceeding NZ$300m, supported by compounding home market growth and an expanded set of international distribution partnerships across more than 100 countries.
Modest operating earnings upgrades are applied to factor in the improved operating leverage, with the broker highlighting the underappreciated research and development portfolio as a key growth driver.
This report was published on May 21, 2026.
Current Price is $3.05. Target price not assessed.
The company's fiscal year ends in March.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 2.62 cents and EPS of 16.05 cents.
At the last closing share price the estimated dividend yield is 0.86%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.00.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 2.97 cents and EPS of 19.28 cents.
At the last closing share price the estimated dividend yield is 0.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.82.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AGE ALLIGATOR ENERGY LIMITED
Uranium - Overnight Price: $0.04
Argonaut rates ((AGE)) as Initiation of coverage with Speculative Buy (2) -
Argonaut initiates coverage on Alligator Energy with a Speculative Buy rating and a $0.07 target price.
The recent success of the field recovery trial and pilot plant at the Samphire project has technically and economically de-risked the development, the broker states.
This milestone clears the pathway toward a potential first production scenario in 2031.
Material exploration upside remains around the existing 18mlb mineral resource estimate, supporting a base case output of 1.0mlb to 1.2mlb of uranium annually over a 12-year mine life.
Near-term catalysts include ongoing exploration results, resource updates, and the eventual release of a definitive feasibility study alongside licensing approvals, the broker notes.
This report was published on May 8, 2026.
Target price is $0.07 Current Price is $0.04 Difference: $0.032
If AGE meets the Argonaut target it will return approximately 84% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Argonaut forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 38.00.
Forecast for FY27:
Argonaut forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 38.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALC ALCIDION GROUP LIMITED
Healthcare services - Overnight Price: $0.11
Canaccord Genuity rates ((ALC)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Alcidion Group with a $0.14 target price following the acquisition of the Kyra Flow product suite from Telstra Health ((TLS)).
The transaction involves an upfront cash consideration of -$3.0m alongside a -$1.0m earn-out component payable 12 months post-completion.
Management expects the acquired asset to generate $3.7m in revenue and $1.1m in underlying earnings in FY26, bringing 31 new customers into the business ecosystem.
Earnings projections across FY27-FY28 are lifted by 14% to 15% to reflect the integration of the highly recurring revenue stream.
The broker views the strategic purchase as an attractively priced and complementary bolt-on capable of driving future cross-selling opportunities across the broader platform.
This report was published on May 23, 2026.
Target price is $0.14 Current Price is $0.11 Difference: $0.03
If ALC meets the Canaccord Genuity target it will return approximately 27% (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
Moelis rates ((ALC)) as Buy (1) -
Moelis maintains a Buy rating for Alcidion Group with a $0.16 target price following an update on contracting and acquisitions.
The company expects FY26 revenue and earnings before interest, tax, depreciation and amortisation to exceed $50m and $5m, respectively.
Achieving this guidance relies on finalising a seven-year $35m contract with UH Sussex targeted for May.
Commentary adds the strategic acquisition of the Kyra patient flow product suite from Telstra Health ((TLS)) at 2.7x FY26 earnings consolidates market share and enhances upselling opportunities.
The broker outlines upcoming FY27 catalysts, including expansion into Canada or the Middle East, alongside sustained pipeline growth within the United Kingdom.
This report was published on May 21, 2026.
Target price is $0.16 Current Price is $0.11 Difference: $0.05
If ALC 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 0.00 cents and EPS of 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 110.00.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 110.00.
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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