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.
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)
AEL ASK (2) AUE BML CU6 CY5 ERD (2) EXP FLT FPH HUM KCN KGN PEB SLC SSM TRE VGL WC8 WZR
AEL AMPLITUDE ENERGY LIMITED
Crude Oil - Overnight Price: $1.75
Canaccord Genuity rates ((AEL)) as Speculative Buy (1) -
Canaccord Genuity retains a Speculative Buy rating for Amplitude Energy with its target price decreased to $2.75 from $2.84 following the strategic asset acquisition of a 50% operated interest in the Artisan gas discovery from Beach Energy ((BPT)).
The asset position sits 17km from existing pipeline infrastructure, allowing a low-cost subsea tie-in that de-risks the final investment decision for the broader project, commentary suggests.
Initial technical evaluations confirm the low-inert gas composition is compatible with the Athena processing facility and offers potential blending opportunities to optimise higher impurity fields.
The upfront consideration of -$58.3m plus capped production royalties remains fully funded by a balance sheet showing $345m in undrawn credit lines.
Near-term operational catalyst milestones focus on upcoming exploration results from the Juliet-1 well alongside finalised development completions on the subsea tree, the broker notes.
This report was published on May 26, 2026.
Target price is $2.75 Current Price is $1.75 Difference: $0.995
If AEL meets the Canaccord Genuity target it will return approximately 57% (excluding dividends, fees and charges).
Current consensus price target is $2.90, suggesting upside of 64.8%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 20.0, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 8.8.
Forecast for FY27:
Current consensus EPS estimate is 23.9, implying annual growth of 19.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.4.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASK ABACUS STORAGE KING
REITs - Overnight Price: $1.41
Moelis rates ((ASK)) as Buy (1) -
Moelis maintains a Buy rating for Abacus Storage King with its target price increased to $1.63 from $1.59 following an update on the management internalisation process.
The real estate investment trust agreed to acquire the management rights from Abacus Group ((ABG)) for an upfront price of $19m alongside $5m for net assets.
The structural simplification represents the final step of destapling and allows direct oversight of the portfolio, which is expected to deliver a 6% accretion to funds from operations.
Management reiterated FY26 distribution guidance of 6.2c despite ongoing peer discounting activity and a weaker macroeconomic environment in New Zealand, commentary highlights.
This report was published on May 27, 2026.
Target price is $1.63 Current Price is $1.41 Difference: $0.225
If ASK meets the Moelis target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $1.58, suggesting upside of 12.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 6.20 cents and EPS of 6.30 cents.
At the last closing share price the estimated dividend yield is 4.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.30.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.8, implying annual growth of -69.1%.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 20.7.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 6.30 cents and EPS of 6.60 cents.
At the last closing share price the estimated dividend yield is 4.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.29.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.1, implying annual growth of 4.4%.
Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 19.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Shaw and Partners rates ((ASK)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Abacus Storage King with its target price decreased to $1.60 from $1.65 following a corporate restructuring update.
The real estate investment trust will internalise management and operate independently from Abacus Storage Group ((ABG)), rebranding as Storage King Group from the end of June.
The transaction is expected to deliver cost savings equivalent to 6% accretion to funds from operations on a pro-forma FY26 basis.
Despite the strategic efficiencies, underlying earnings forecasts are downgraded by up to -4.5% to reflect highly competitive trading conditions and a weakened New Zealand economic environment.
The revised valuation incorporates these near-term margin pressures alongside softer capitalisation rates stemming from elevated interest rates, the broker notes.
This report was published on May 27, 2026.
Target price is $1.60 Current Price is $1.41 Difference: $0.195
If ASK meets the Shaw and Partners target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $1.58, suggesting upside of 12.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Shaw and Partners forecasts a full year FY26 dividend of 6.20 cents and EPS of 6.20 cents.
At the last closing share price the estimated dividend yield is 4.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.8, implying annual growth of -69.1%.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 20.7.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 6.40 cents and EPS of 6.40 cents.
At the last closing share price the estimated dividend yield is 4.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.1, implying annual growth of 4.4%.
Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 19.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AUE AURUM RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.61
Canaccord Genuity rates ((AUE)) as Speculative Buy (1) -
Canaccord Genuity maintains a Speculative Buy rating for Aurum Resources with a $1.55 target price following the receipt of major environmental approvals for the Boundiali gold project in Cote d'Ivoire.
Commentary suggests the issuance of three assessment certificates across the mining licence application areas represents a key de-risking milestone and clears the pathway for final regulatory review.
A recent 24% upgrade to indicated resources at the asset to 1.70Moz of contained gold is expected to underpin a pre-feasibility study slated for release this quarter.
The broker estimates the deposit could support an operation delivering 160,000 to 175,000 ounces annually over a ten-year mine life at an all-in sustaining cost around US$1,600/oz.
Aggressive resource growth drilling continues with 16 company-owned diamond rigs operating on site, supported by a $61m cash balance at the end of March 2026.
This report was published on May 25, 2026.
Target price is $1.55 Current Price is $0.61 Difference: $0.94
If AUE meets the Canaccord Genuity target it will return approximately 154% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three source
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