Daily Market Reports | 11:15 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)
3DP ADH APE BUB CNB DSK DXS ELV EOS GG8 GGP GHM GLN HUB IKE JAN LOV MRT MYR NCK PDN PLY (2) PWR PXA RDY SRG VHM VUL WEB WES
3DP POINTERRA LIMITED
Cloud services - Overnight Price: $0.03
Research as a Service (RaaS) rates ((3DP)) as No Rating (-1) -
Pointerra has been awarded a $700,000 three-year contract with Origin Energy ((ORG)) for automated pipeline monitoring and analytics across 750,000 km of gas transmission pipelines in Queensland. Operations are to commence in July.
Research as a Service (RaaS) considers the contract an important validation of the company's cloud-based solution, Pointerra3D, for remote monitoring in the natural resources sector. Valuation is maintained at $0.18.
Research as a Service doesn't assign a rating. Investors can draw conclusions from valuations and commentary.
This report was published on June 1, 2026.
Target price is $0.18 Current Price is $0.03 Difference: $0.15
If 3DP meets the Research as a Service (RaaS) target it will return approximately 500% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY26:
Research as a Service (RaaS) forecasts a full year FY26 dividend of 0.00 cents and EPS of 22.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 0.14.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of 19.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 0.16.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ADH ADAIRS LIMITED
Furniture & Renovation - Overnight Price: $1.31
Canaccord Genuity rates ((ADH)) as Buy (1) -
Canaccord Genuity maintains a Buy recommendation for Adairs with its target price reduced to $2.10 following a sector-wide reduction in discretionary retail estimates.
Recent trading updates and final end of financial year sales anecdotes indicate soft consumer momentum closing out FY26.
Revisions averaging 5% to 10% at the EBIT line reflect adjusted assumptions across like-for-like sales, gross margins, and cost of doing business metrics.
Valuation compression appears severe, leaving the stock trading two standard deviations below its 5-year average price-to-earnings multiple.
Commentary suggests solid balance sheets and robust medium-term prospects support the broader turnaround opportunity as macro conditions eventually stabilise.
This report was published on May 29, 2026.
Target price is $2.10 Current Price is $1.31 Difference: $0.79
If ADH meets the Canaccord Genuity target it will return approximately 60% (excluding dividends, fees and charges).
Current consensus price target is $1.61, suggesting upside of 22.9%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 17.1, implying annual growth of 17.0%.
Current consensus DPS estimate is 9.1, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 7.7.
Forecast for FY27:
Current consensus EPS estimate is 20.5, implying annual growth of 19.9%.
Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 9.4%.
Current consensus EPS estimate suggests the PER is 6.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components - Overnight Price: $19.95
Canaccord Genuity rates ((APE)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Eagers Automotive with a $30.50 target price following the group's annual general meeting trading update.
Management provided 1H26 underlying profit before tax guidance for Australia and New Zealand operations to match or exceed the $198m recorded in 1H25.
Near-term results depend on supply cadence rather than underlying consumer demand, with record order intake volumes outpacing active sales.
Consolidated earnings will skew significantly into 2H26 due to delayed vehicle shipments and a full half contribution from the CanadaOne acquisition.
Scaling the Canadian domestic market share up to 5% over the next five years forms the central pillar of the long-term growth strategy.
This report was published on May 29, 2026.
Target price is $30.50 Current Price is $19.95 Difference: $10.55
If APE meets the Canaccord Genuity target it will return approximately 53% (excluding dividends, fees and charges).
Current consensus price target is $27.78, suggesting upside of 39.3%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 111.8, implying annual growth of 28.3%.
Current consensus DPS estimate is 80.3, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 17.8.
Forecast for FY27:
Current consensus EPS estimate is 131.0, implying annual growth of 17.2%.
Current consensus DPS estimate is 88.6, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 15.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BUB BUBS AUSTRALIA LIMITED
Dairy - Overnight Price: $0.09
Shaw and Partners rates ((BUB)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Bubs Australia with a $0.16 target price following a well-performing full-year trading update.
Although regional headwinds persist, commentary highlights performance inside the core United States market remains highly robust with expected store ranging expanding past 10,000 locations in July 2026.
Progress toward permanent FDA approval tracks steadily in its final structural review stages to act as a significant near-term catalyst, the report concludes.
Short-term profitability metrics carry localised air freight cost burdens required for inventory re-stocking, which are now completely concluding.
Revisions to the revenue guidance baseline reflect a 9% underlying growth trajectory while forward financial model estimates remain entirely unchanged.
This report was published on June 1, 2026.
Target price is $0.16 Current Price is $0.09 Difference: $0.072
If BUB meets the Shaw and Partners target it will return approximately 82% (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 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 29.33.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 44.00.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CNB CARNABY RESOURCES LIMITED
Mining - Overnight Price: $0.75
Moelis rates ((CNB)) as Buy (1) -
Moelis maintains a Buy rating for Carnaby Resources with a $0.95 target price following fortuitous exploration drilling at the Greater Duchess project in North Queensland.
A vertical reverse circulation hole intended as a water bore returned an exceptional intercept of 232m at 1.1% copper and 0.2g/t gold from surface.
Although the true width of the mineralisation remains unknown due to an acute drilling angle, the hole indicates previously unrecognised continuity immediately adjacent to planned open pit designs.
Operational milestone focus remains properly centered on a mid-year feasibility study alongside first ore from Trekelano by the end of 2026.
The report concludes highly unexpected discoveries are likely to persist across a significant, under-explored regional land holding as dedicated funding allocations permit.
This report was published on June 2, 2026.
Target price is $0.95 Current Price is $0.75 Difference: $0.2
If CNB meets the Moelis 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
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