Australian Broker Call *Extra* Edition – Jun 05, 2026

Array
(
    [0] => Array
        (
            [0] => ((A1M))
            [1] => ((AEL))
            [2] => ((APE))
            [3] => ((ARB))
            [4] => ((ARB))
            [5] => ((EBO))
            [6] => ((EQR))
            [7] => ((GDI))
            [8] => ((GNC))
            [9] => ((IPX))
            [10] => ((NST))
            [11] => ((PWR))
            [12] => ((QAN))
            [13] => ((RFG))
            [14] => ((SLC))
            [15] => ((SRG))
            [16] => ((STM))
            [17] => ((TEA))
            [18] => ((TLC))
            [19] => ((TPG))
            [20] => ((VYS))
        )

    [1] => Array
        (
            [0] => A1M
            [1] => AEL
            [2] => APE
            [3] => ARB
            [4] => ARB
            [5] => EBO
            [6] => EQR
            [7] => GDI
            [8] => GNC
            [9] => IPX
            [10] => NST
            [11] => PWR
            [12] => QAN
            [13] => RFG
            [14] => SLC
            [15] => SRG
            [16] => STM
            [17] => TEA
            [18] => TLC
            [19] => TPG
            [20] => VYS
        )

)

This story features AIC MINES LIMITED, and other companies.
For more info SHARE ANALYSIS: A1M
The company is included in ALL-ORDS

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)

A1M   AEL   APE   ARB (2)   EBO   EQR   GDI   GNC   IPX   NST   PWR   QAN   RFG   SLC   SRG   STM   TEA   TLC   TPG   VYS  

A1M    AIC MINES LIMITED

Gold & Silver – Overnight Price: $0.68

Shaw and Partners rates ((A1M)) as Buy (1) –

Shaw and Partners maintains a Buy rating for AIC Mines with its target price held at $1.10 following evaluation of the 2026 Eloise Almanac operational roadmap.

Underground infrastructure development shows the Jericho project advancing ahead of schedule, targeting initial satellite ore extraction later this financial year.

Concurrent processing plant expansions will lift localised nameplate capacity to 1.1mtpa to seamlessly absorb incoming high-grade copper feed combinations.

Total copper production guidance remains firmly maintained between 12.8kt and 13.1kt alongside stable gold concentrate metrics for financial year FY26.

Transparent execution strategies distinguish the group from intermediate sector peers, the report concludes, positioning the business for a structurally transformed cash generation profile by FY28.

This report was published on June 3, 2026.

Target price is $1.10 Current Price is $0.68 Difference: $0.425
If A1M meets the Shaw and Partners target it will return approximately 63% (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 8.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.94.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 17.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.95.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AEL    AMPLITUDE ENERGY LIMITED

Crude Oil – Overnight Price: $1.59

Canaccord Genuity rates ((AEL)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for Amplitude Energy with its target price lowered to $2.54 due to persistent spot market weakness across localized gas networks.

Subdued winter tracking metrics, diminished electricity market generation requirements, and stable asset inventory storage profiles combine to cap immediate price recovery trajectories, commentary suggests.

The broker suggests ongoing regulatory consultation regarding proposed domestic gas reservation policies and potential export tax structures additionally shifts industry supply behavior.

Accounting for reduced prompt price vectors leaves financial year FY26 group EBITDA projections lower at $197m, tracking below consensus expectations.

Long-term model revisions reflect a lowered baseline gas valuation of $11.5/GJ to capture expanded macro supply obligations and minimized systemic shortfall risks pre-2030.

This report was published on June 4, 2026.

Target price is $2.54 Current Price is $1.59 Difference: $0.945
If AEL meets the Canaccord Genuity target it will return approximately 59% (excluding dividends, fees and charges).
Current consensus price target is $2.95, suggesting upside of 84.4%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 19.6, 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 8.2.

Forecast for FY27:

Current consensus EPS estimate is 22.4, implying annual growth of 14.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.1.

Market Sentiment: 1.0
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: $21.00

Canaccord Genuity rates ((APE)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Eagers Automotive with its target price reduced to $28.50 from $30.50 following soft nationwide registration metrics.

Industry sales dropped -2.3% in May, though the headline contraction masks a structural 135% year-to-date surge in battery electric vehicle volumes.

Commentary states growing order backlogs for high-demand models will likely accelerate deliveries across the second half of 2026, offsetting demand weakness and inventory oversupply within legacy internal combustion engine brands.

FY26 earnings forecasts are reduced -11.8% to account for soft Canadian market conditions, dealership-level volume deleverage, and rising interest expenses on corporate bailment debt.

Group operations remain well positioned to leverage emerging alternative powertrain trends and imminent corporate acquisition milestones in Canada before the conclusion of FY26, the report concludes.

This report was published on June 4, 2026.

Target price is $28.50 Current Price is $21.00 Difference: $7.5
If APE meets the Canaccord Genuity target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $27.78, suggesting upside of 32.3%(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 3.8%.
Current consensus EPS estimate suggests the PER is 18.8.

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 4.2%.
Current consensus EPS estimate suggests the PER is 16.0.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ARB    ARB CORPORATION LIMITED

Automobiles & Components – Overnight Price: $18.37

Canaccord Genuity rates ((ARB)) as Hold (3) –

Canaccord Genuity maintains a Hold rating for ARB Corp with a $21.80 target price following the publication of key industry tracking metrics.

The broker’s specialised Top 11 index sales declined -29.6% on pcp, revealing broad-based volume softness across primary domestic utility and four-wheel-drive models.

Slowing vehicle registrations reflect newly implemented trust structure taxation guidelines alongside a rapid shift in consumer sentiment away from diesel powertrains, Canaccord explains.

One of the key observations made is that near-term aftermarket performance remains heavily insulated by substantial unfulfilled order backlogs for core Toyota platforms.

Elevated production allocations from corporate parent offices are expected to improve localised vehicle availability throughout the second half of 2026.

This report was published on June 4, 2026.

Target price is $21.80 Current Price is $18.37 Difference: $3.43
If ARB meets the Canaccord Genuity target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $25.12, suggesting upside of 36.7%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 103.9, implying annual growth of -11.8%.
Current consensus DPS estimate is 70.5, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 17.7.

Forecast for FY27:

Current consensus EPS estimate is 114.8, implying annual growth of 10.5%.
Current consensus DPS estimate is 68.0, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 16.0.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

Jarden rates ((ARB)) as Neutral (3) –

Jarden maintains a Neutral rating for ARB Corp with its target price reduced to $20.55 from $20.70 following persistent macroeconomic deterioration across primary automotive delivery networks.

Relevant industrial tracking indicators display a sharp -27% year-on-year drop in monthly baseline deliveries, cycling tough prior-period seasonal comparators.

Heightened consumer transition metrics favoring alternative powertrain options over legacy internal combustion configurations restrict short-term volume expansion, the broker explains.

FY26 earnings estimates are cut -2% to encompass localised aftermarket volatility alongside minor export segment adjustments.

Expected supply-side manufacturing corrections from key platform partners provide long-term recovery visibility, Jarden comments, but near-term delivery bottlenecks prevent a more positive structural stance.

This report was published on June 3, 2026.

Target price is $20.55 Current Price is $18.37 Difference: $2.18
If ARB meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $25.12, suggesting upside of 36.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 66.40 cents and EPS of 100.90 cents.
At the last closing share price the estimated dividend yield is 3.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 103.9, implying annual growth of -11.8%.
Current consensus DPS estimate is 70.5, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 17.7.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 63.80 cents and EPS of 106.30 cents.
At the last closing share price the estimated dividend yield is 3.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 114.8, implying annual growth of 10.5%.
Current consensus DPS estimate is 68.0, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 16.0.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EBO    EBOS GROUP LIMITED

Healthcare services – Overnight Price: $16.06

Jarden rates ((EBO)) as Overweight (2) –

Jarden maintains an Overweight rating for Ebos Group with its target price reduced to NZ$30.50 from NZ$33.80 following an intermediate reset of earnings growth trajectories under new group leadership.

As the report explains, core community pharmacy segments experience distinct margin decompression from near-term supply chain fuel hikes and structural volume reallocations following the loss of the Chemist Warehouse Australia contract.

Jarden states step acquisition triggers under financial reporting frameworks alter the consolidation profile of Origin Biologics, moving the entity from an equity-accounted associate to a fully controlled subsidiary.

Operational revenues for FY26 are projected to climb to $13,657.7m, supported by resilient growth across residual medical technology lines and regional bolt-on acquisitions.

Normalised earnings per share estimates contract -8.2% in FY26 to 120.6c, capturing a deeper reset duration before core group baseline expansion is expected to resume in FY28.

This report was published on June 2, 2026.

Current Price is $16.06. Target price not assessed.
Current consensus price target is $25.64, suggesting upside of 59.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 100.00 cents and EPS of 120.60 cents.
At the last closing share price the estimated dividend yield is 6.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 123.1, implying annual growth of 12.2%.
Current consensus DPS estimate is 102.9, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 13.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 96.00 cents and EPS of 117.00 cents.
At the last closing share price the estimated dividend yield is 5.98%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 129.4, implying annual growth of 5.1%.
Current consensus DPS estimate is 100.2, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 12.4.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EQR    EQ RESOURCES LIMITED

Industrial Metals – Overnight Price: $0.23

Canaccord Genuity rates ((EQR)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for EQ Resources with a $0.50 target price following board approval for the Mt Carbine processing plant expansion to 2Mtpa.

Capital expenditure for the processing project is estimated at $39m, with system commissioning targeted for the third quarter of FY27.

Commentary suggests elevated feed grades combined with expanded crushing infrastructure are projected to drive a 400% surge in localised asset output beyond 160,000MTU.

Near-term group volumes will improve an estimated 70% quarter-on-quarter during the June quarter of 2026 to 40,000MTU as wet weather headwinds ease at Barruecopardo, Canaccord predicts.

The underlying thesis is that structural undersupply in global tungsten markets outside China provides long-term pricing support out to 2030 to help close the valuation gap to sector peers.

This report was published on June 4, 2026.

Target price is $0.50 Current Price is $0.23 Difference: $0.265
If EQR meets the Canaccord Genuity target it will return approximately 113% (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

GDI    GDI PROPERTY GROUP

REITs – Overnight Price: $0.61

Moelis rates ((GDI)) as Buy (1) –

Moelis maintains a Buy rating for GDI Property with a $0.96 target price following the announced divestment of the final Autoleague portfolio assets for $43m.

Winding down this syndicate generates a 13% net internal rate of return for investors, triggering an expected $6.2m pre-tax performance fee for the group in FY27.

Moelis concludes this one-off milestone provides a near-term boost to cash flows while improving look-through balance sheet gearing profiles.

Medium-term estimates incorporate elevated interest rate assumptions but remain supported by a tight Perth office market landscape showing zero upcoming supply pipelines.

The broker suggests the stock presents attractive value trading at a -49% discount to net tangible assets with an implied 8.5% dividend yield for the upcoming period.

This report was published on June 2, 2026.

Target price is $0.96 Current Price is $0.61 Difference: $0.35
If GDI meets the Moelis target it will return approximately 57% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 5.00 cents and EPS of 7.80 cents.
At the last closing share price the estimated dividend yield is 8.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.82.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 5.20 cents and EPS of 9.10 cents.
At the last closing share price the estimated dividend yield is 8.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.70.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

GNC    GRAINCORP LIMITED

Agriculture – Overnight Price: $5.09

Jarden rates ((GNC)) as Upgrade to Neutral from Underweight (3) –

Jarden upgrades to a Neutral rating for GrainCorp with a $5.40 target price following the release of the first winter crop production estimates by ABARES for FY27.

The agency’s east coast winter crop estimate of 23.8mmt remains broadly in line with long-term averages, though emerging El Nino risks over June and July pose downside tracking visibility, the broker adds.

Higher raw procurement costs are modeled across the key nutrition and energy crushing facilities due to a -34% year-on-year drop in New South Wales canola production.

Long-term through-the-cycle earnings power assumptions reflect more scepticism than broader consensus expectations, Jarden explains, particularly across the FY28 financial horizon.

The report concludes solid fundamental balance sheet metrics persist, supported by the corporate securities currently trading at a -21% discount to accounting book value.

This report was published on June 2, 2026.

Target price is $5.40 Current Price is $5.09 Difference: $0.31
If GNC meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $6.04, suggesting upside of 18.7%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 28.00 cents and EPS of 15.30 cents.
At the last closing share price the estimated dividend yield is 5.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 33.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.4, implying annual growth of -31.7%.
Current consensus DPS estimate is 26.0, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 41.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 28.00 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 5.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.9, implying annual growth of 52.4%.
Current consensus DPS estimate is 27.0, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 26.9.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IPX    IPERIONX LIMITED

Industrial Metals – Overnight Price: $5.65

Canaccord Genuity rates ((IPX)) as Speculative Buy (1) –

Canaccord Genuity maintains a Speculative Buy rating for IperionX with a $8.90 target price following a first look at the definitive feasibility study for the Titan mineral sands project.

The study details a capital efficient two-stage development pathway with stage one and stage two capital expenditure estimated at US$228m and US$153m respectively.

Canaccord Genuity finds developing the asset provides critical feedstock optionality to protect future titanium metal processing margins against raw scrap market volatility.

The underlying view is that highly strategic heavy rare earth byproduct streams grading 480ppm total rare earth oxides enhance project appeal amid robust global demand for ex-China sourcing networks.

Preliminary timetables schedule commercial construction commencement for January 2027, with stage one commissioning targeted for June 2028.

This report was published on June 4, 2026.

Target price is $8.90 Current Price is $5.65 Difference: $3.25
If IPX meets the Canaccord Genuity target it will return approximately 58% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NST    NORTHERN STAR RESOURCES LIMITED

Gold & Silver – Overnight Price: $20.39

Jarden rates ((NST)) as Underweight (4) –

Jarden maintains an Underweight rating for Northern Star Resources, with its target price decreased to $21.60 following an annual mineral resources and ore reserves statement.

Group resources expanded to 88.9moz and reserves climbed to 28.4moz, primarily driven by the initial inclusion of the Hemi deposit.

Higher localised cost structures impair the peripheries of underlying orebodies, leading to a counter-intuitive lift in underground cut-off grades at KCGM despite more aggressive gold price assumptions, the broker explains.

The report highlights operational risks remain elevated ahead of the critical KCGM processing expansion cutover, while a newly launched activist campaign lacks concrete proposals for near-term optimisation.

Baseline earnings per share revisions fall -3% for FY27 and -2% for FY28 to reflect minor modifications to modelling physicals.

This report was published on June 3, 2026.

Target price is $21.60 Current Price is $20.39 Difference: $1.21
If NST meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $27.79, suggesting upside of 36.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 50.00 cents and EPS of 126.30 cents.
At the last closing share price the estimated dividend yield is 2.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 130.4, implying annual growth of 15.8%.
Current consensus DPS estimate is 54.4, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 15.6.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 50.00 cents and EPS of 141.30 cents.
At the last closing share price the estimated dividend yield is 2.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 201.3, implying annual growth of 54.4%.
Current consensus DPS estimate is 70.3, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 10.1.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PWR    PETER WARREN AUTOMOTIVE HOLDINGS LIMITED

Automobiles & Components – Overnight Price: $0.80

Moelis rates ((PWR)) as Buy (1) –

Moelis retains a Buy rating on Peter Warren Automotive with a $1.45 target price after cutting FY26-FY28 earnings forecasts following a weaker-than-expected trading update and delayed acquisition activity.

FY26 guidance implied a 55% downgrade to market consensus, with pressure on new vehicle margins driven by discounting, supply mismatches between consumer demand and available inventory, and higher interest costs.

The broker also removed the Wakeling acquisition from forecasts pending ACCC approval, resulting in FY26-FY28 EPS downgrades of 27-52%.

Despite near-term earnings pressure, the enlarged order bank is expected to support FY27 earnings as higher-margin Toyota and EV deliveries occur, while the company’s property portfolio provides substantial asset backing.

This report was published on June 2, 2026.

Target price is $1.45 Current Price is $0.80 Difference: $0.655
If PWR meets the Moelis target it will return approximately 82% (excluding dividends, fees and charges).
Current consensus price target is $1.61, suggesting upside of 101.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 3.60 cents and EPS of 6.00 cents.
At the last closing share price the estimated dividend yield is 4.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.1, implying annual growth of 29.4%.
Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 8.8.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 4.70 cents and EPS of 8.30 cents.
At the last closing share price the estimated dividend yield is 5.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.9, implying annual growth of 41.8%.
Current consensus DPS estimate is 7.5, implying a prospective dividend yield of 9.4%.
Current consensus EPS estimate suggests the PER is 6.2.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

QAN    QANTAS AIRWAYS LIMITED

Transportation & Logistics – Overnight Price: $9.15

Jarden rates ((QAN)) as Buy (1) –

Jarden maintains a Buy rating for Qantas Airways with a $11.25 target price following an analysis of international airline capacity and market share data.

Scheduled market capacity is expected to experience an 11% snap back through July 2026, driven by an expansion of seats from Asian discount operators and Chinese carriers.

The broker says deep capacity cuts from Middle East airlines during recent geopolitical conflict are poised to recover fully over the initial half of FY27.

North American route capacity remains structurally resilient, supporting incremental market share gains from United Airlines.

Core normalised earnings estimates remain completely unchanged as intermediate domestic and international group performance tracks in line with expectations.

This report was published on June 3, 2026.

Target price is $11.25 Current Price is $9.15 Difference: $2.1
If QAN meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $10.75, suggesting upside of 17.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 90.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.12.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 96.9, implying annual growth of -7.9%.
Current consensus DPS estimate is 39.9, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 9.4.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 95.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 105.3, implying annual growth of 8.7%.
Current consensus DPS estimate is 40.3, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 8.7.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

RFG    RETAIL FOOD GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $0.61

Shaw and Partners rates ((RFG)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Retail Food with its target price reduced to $1.50 following a recent trading update covering the initial 20 weeks of 2H26.

Core brand network sales decreased -4.8% during the period due to corporate store restructuring and strategic closures, though cost rationalisation programs remain ahead of schedule to deliver $5-7m in savings for FY27.

Financial year FY26 EBITDA guidance narrowed to a range of $20-21m, reflecting cost-of-living constraints and interest rate hikes weighing on national discretionary spending patterns.

As per the report, growth pipelines include entering a long-term franchise expansion program with the Firehouse Subs brand, targeting 15 corporate openings within three years.

Underlying net profit forecasts are reduced -10% to -15% across intermediate tracking periods, but core operations are expected to benefit as restructuring completes.

This report was published on June 3, 2026.

Target price is $1.50 Current Price is $0.61 Difference: $0.89
If RFG meets the Shaw and Partners target it will return approximately 146% (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 12.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.92.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 14.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.18.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SLC    SUPERLOOP LIMITED

Telecommunication – Overnight Price: $3.48

Jarden rates ((SLC)) as Downgrade to Overweight from Buy (2) –

Jarden downgrades Superloop to Overweight, with a $3.60 target price, following management’s recent investor presentation.

Commentary highlights group baseline revenue trajectories expand sustainably under the new three-year strategic framework targeting significant compound earnings growth by FY29.

Near-term underlying group EBITDA allocations climb to a guided range of $118m to $122m, representing strong organic customer acceleration.

Broadening subscriber metrics display substantial volume additions across residential consumer and open-access wholesale infrastructure networks.

The report concludes accelerated contracted order book momentum within specialised communities further expands visibility to support long-term operational margin targets.

This report was published on June 3, 2026.

Target price is $3.60 Current Price is $3.48 Difference: $0.12
If SLC meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $3.68, suggesting upside of 5.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 7.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 44.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.4, implying annual growth of 2983.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 47.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 11.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.3, implying annual growth of 39.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 33.8.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SRG    SRG GLOBAL LIMITED

Mining Sector Contracting – Overnight Price: $3.81

Shaw and Partners rates ((SRG)) as Buy (1) –

Shaw and Partners maintains a Buy rating for SRG Global with its target price increased to $4.00 following a series of material contract wins totalling $1.85bn across multiple sectors and years.

Upgraded earnings per share projections rise 1.5%, 9.8%, and 12.7% over the FY26 to FY28 period to reflect stronger long-term maintenance recurring revenue visibility.

Strong trading update parameters point toward an FY26 EBITDA of approximately $168m, capturing the top end of prior management guidance windows.

Baseline operational growth is expected to accelerate further into FY27 with segment EBITDA targeted between $190m and $200m.

The report suggests discounted cash flow valuation enhancements are further supported by a lower structural risk rating and an expanded 3.0% terminal growth rate assumption.

This report was published on June 3, 2026.

Target price is $4.00 Current Price is $3.81 Difference: $0.19
If SRG meets the Shaw and Partners target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $3.55, suggesting downside of -6.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Shaw and Partners forecasts a full year FY26 dividend of 7.00 cents and EPS of 13.50 cents.
At the last closing share price the estimated dividend yield is 1.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.9, implying annual growth of 60.4%.
Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 29.5.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 8.30 cents and EPS of 16.60 cents.
At the last closing share price the estimated dividend yield is 2.18%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.1, implying annual growth of 17.1%.
Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 25.2.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

STM    SUNSTONE METALS LIMITED

Copper – Overnight Price: $0.27

Shaw and Partners rates ((STM)) as Buy (1) –

Shaw and Partners maintains a Buy rating for Sunstone Metals with its target price held at $2.10 following successful exploratory results from the active Bramaderos drilling campaign in Ecuador.

All twelve holes assayed so far returned long, mineralized intersections, establishing gold-copper porphyry discovery extensions stretching 380m to the southeast of the previous boundary footprint.

Ongoing infrastructure activities focus on executing large-scale resource conversions to de-risk an expansive target estimated at 135-180mt.

Strategic discussions remain active with multiple corporate entities exploring project-level earn-ins or asset combinations via an open data room structure.

Financial projections display uniform intermediate exploration metrics, placing the company as a significantly undervalued junior explorer relative to ASX base-metal peers, the broker concludes.

This report was published on June 3, 2026.

Target price is $2.10 Current Price is $0.27 Difference: $1.835
If STM meets the Shaw and Partners target it will return approximately 692% (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 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 22.08.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 29.44.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TEA    TASMEA LIMITED

Mining Sector Contracting – Overnight Price: $8.14

Canaccord Genuity rates ((TEA)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Tasmea with its target price increased to $9.00 following the announced acquisition of specialist electrical contractor Maxim for $254m.

The strategic transaction implies an attractive FY26 enterprise value to earnings before interest and tax multiple of 5.4x while capturing meaningful commercial exposure to structural data center and utility infrastructure construction end markets.

Canaccord explains operational activity will leverage strong structural momentum at Canberra Data Centres, which must accelerate future pipeline delivery across Victorian campuses to meet tightening market capacity constraints.

Forward modeling incorporates first-pass financial targets for the acquired business unit, forecasting standalone earnings contributions of $55m in FY27 and $62.5m in FY28.

The report concludes sum-of-the-parts valuation methodologies apply a minor relative discount to peer market multiples to account for compressed customer concentration boundaries while executing a superior underlying compound organic growth profile.

This report was published on June 4, 2026.

Target price is $9.00 Current Price is $8.14 Difference: $0.86
If TEA meets the Canaccord Genuity target it will return approximately 11% (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

TLC    LOTTERY CORPORATION LIMITED

Gaming – Overnight Price: $5.21

Jarden rates ((TLC)) as Overweight (2) –

Jarden maintains an Overweight rating for Lottery Corp with its target price increased to $5.65 following an investor day presentation outlining intermediate strategic drivers.

Commentary explains channel margin mix improvements from accelerated digital application penetration support a projected lotteries variable contribution expansion out to FY30.

Tightened financial year FY26 operating expenditure guidance of -$300m to -$310m is seen complementing a localised operating model restructure expected to yield $10m in annualised structural cost savings from FY27.

Near-term headwind variability from sub-theoretical jackpot sequences anchors current period performance expectations below historical consensus boundaries, the report highlights.

Jarden explains long-term licensing structures remain significantly de-risked to preserve the group’s durable multi-year cash conversion optionality.

This report was published on June 4, 2026.

Target price is $5.65 Current Price is $5.21 Difference: $0.44
If TLC meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $5.88, suggesting upside of 12.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 16.50 cents and EPS of 15.80 cents.
At the last closing share price the estimated dividend yield is 3.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.4, implying annual growth of -0.2%.
Current consensus DPS estimate is 17.2, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 31.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 18.00 cents and EPS of 17.70 cents.
At the last closing share price the estimated dividend yield is 3.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.7, implying annual growth of 14.0%.
Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 27.9.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TPG    TPG TELECOM LIMITED

Telecommunication – Overnight Price: $3.60

Jarden rates ((TPG)) as Overweight (2) –

Jarden maintains an Overweight rating for TPG Telecom with a $4.30 target price after the group reaffirmed its FY26 financial guidance.

The broker observes stronger customer additions across mobile virtual network operator and digital-first brands characterised the half-year trading trajectory in line with long-term consumer portfolios.

Lower operating expenses and variable costs successfully offset ongoing national broadband network market share losses to leave near-term EBITDA forecasts intact.

Expanding the digital subscriber base to more than 1.1m services on issue by FY29 underpins a projected 3.5% EBITDA compound annual growth rate through FY30.

Post-transformation capital expenditure reductions complement this operational leverage to significantly accelerate intermediate free cash flow yields, the report concludes.

This report was published on June 2, 2026.

Target price is $4.30 Current Price is $3.60 Difference: $0.7
If TPG meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $4.02, suggesting upside of 11.7%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 19.00 cents and EPS of 6.30 cents.
At the last closing share price the estimated dividend yield is 5.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 57.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.5, implying annual growth of -5.9%.
Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 55.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 20.00 cents and EPS of 9.60 cents.
At the last closing share price the estimated dividend yield is 5.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.7, implying annual growth of 33.8%.
Current consensus DPS estimate is 19.8, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 41.4.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

VYS    VYSARN LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $0.95

Canaccord Genuity rates ((VYS)) as Buy (1) –

Canaccord Genuity maintains a Buy rating for Vysarn with its target price increased to $1.07 following the strategic acquisition of industrial irrigation and water maintenance business NewGround.

Binding agreements detail a consideration structure comprising up to 33.0m shares and $25m in cash, implying an attractive enterprise value to earnings before interest and tax multiple of up to 5.9x, Canaccord comments.

Pro forma earnings per share accretion is estimated at 25% based on a forecast financial year FY26 profit before tax of approximately $20m.

Forward modeling incorporates a nine-month operational contribution in FY27, projecting asset level revenue of $55m and earnings before interest and tax of $7.0m.

Valuation metrics expand the operating business multiple to 15.0x enterprise value to earnings before interest, tax, depreciation, and amortisation to reflect an enhanced structural growth profile across the Australian east coast, Canaccord highlights.

This report was published on June 4, 2026.

Target price is $1.07 Current Price is $0.95 Difference: $0.12
If VYS meets the Canaccord Genuity target it will return approximately 13% (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

Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don’t have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.

This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

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