Australian Broker Call *Extra* Edition – Jun 17, 2026

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            [0] => ((A2M))
            [1] => ((ABB))
            [2] => ((ABB))
            [3] => ((ADH))
            [4] => ((AUC))
            [5] => ((CCP))
            [6] => ((CSX))
            [7] => ((DRO))
            [8] => ((EIQ))
            [9] => ((ELS))
            [10] => ((EOS))
            [11] => ((HLO))
            [12] => ((IGO))
            [13] => ((MP1))
            [14] => ((QAL))
            [15] => ((SHL))
            [16] => ((SUL))
            [17] => ((SXE))
            [18] => ((NXT))
            [19] => ((RIO))
            [20] => ((TCL))
            [21] => ((WBC))
        )

    [1] => Array
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            [0] => A2M
            [1] => ABB
            [2] => ABB
            [3] => ADH
            [4] => AUC
            [5] => CCP
            [6] => CSX
            [7] => DRO
            [8] => EIQ
            [9] => ELS
            [10] => EOS
            [11] => HLO
            [12] => IGO
            [13] => MP1
            [14] => QAL
            [15] => SHL
            [16] => SUL
            [17] => SXE
            [18] => NXT
            [19] => RIO
            [20] => TCL
            [21] => WBC
        )

)

This story features A2 MILK COMPANY LIMITED, and other companies.
For more info SHARE ANALYSIS: A2M
The company is included in ASX100, ASX200, ASX300 and 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)

A2M   ABB (2)   ADH   AUC   CCP   CSX   DRO   EIQ   ELS   EOS   HLO   IGO   MP1   QAL   SHL   SUL   SXE   TCL   WBC  

A2M    A2 MILK COMPANY LIMITED

Dairy – Overnight Price: $5.91

Jarden rates ((A2M)) as Upgrade to Neutral from Underweight (3) –

Jarden upgrades a2 Milk Co to Neutral from Underweight and reduces the target to NZ$7.36 from NZ$9.20 to include recent changes from the Ministry of Primary Industries as it relates to infant formula cereulide toxin testing.

The broker takes some comfort, as time has passed, that there are no further issues that need to be notified to the market.

Its desktop channel checks also confirm stock shortages in China Label across many online storefronts, which aligns with supply constraints foreshadowed in the trading update in mid April.

Jarden acknowledges there remain many unanswered questions regarding the investment case, but also finds the reduced cereulide tail risk is now better reflected in the share price de-rating.

On June 15th the broker followed up as follows:

Jarden maintains a Neutral rating for a2 Milk Co with a NZ$7.36 target price following channel checks indicating an emerging restock cycle for its China Label infant milk formula range.

Desktop analysis of popular Taobao storefronts and localised social media monitoring confirm the gradual re-entry of product supply across Mother and Baby Store and general trade channels.

New product batches manufactured after February 2026 feature an additional traceability QR code sticker, allowing consumers to directly verify customs clearance and negative cereulide testing results.

The analyst notes the stabilisation of product availability reduces severe tail risks associated with product recalls or structural supply chain disruptions.

A -20% discount remains embedded within the 12-month discounted cash flow valuation to account for residual uncertainty ahead of opening guidance for FY27 in August.

This report was published on June 11, 2026.

Current Price is $5.91. Target price not assessed.
Current consensus price target is $8.10, suggesting upside of 33.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 23.7, implying annual growth of N/A.
Current consensus DPS estimate is 17.8, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 25.7.

Forecast for FY27:

Current consensus EPS estimate is 28.3, implying annual growth of 19.4%.
Current consensus DPS estimate is 41.4, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 21.5.

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

ABB    AUSSIE BROADBAND LIMITED

Telecommunication – Overnight Price: $5.20

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

Canaccord Genuity maintains a Buy rating on Aussie Broadband while lowering its target price to $6.87 from $6.94 following a trading update which largely met expectations and confirmed acquisition integration timelines remain on track.

FY26 EBITDA guidance was reiterated near the midpoint of the $162m-$167m range, while capital expenditure is now expected at the upper end of previous guidance and net debt to EBITDA stood at 0.72x at the end of May.

Subscriber growth moderated slightly during the second half of FY26, though the pending migration of More, Tangerine and Buddy customers is expected to lift the group’s customer base beyond 1.3m subscribers, making it the third-largest NBN service provider in Australia.

The migration of approximately 275,000 More and Tangerine subscribers is now expected to be completed by June 30, 2026 with a retention rate of around 95%, while approximately 350,000 AGL Telco subscribers remain scheduled to transition during the first half of FY27.

The analyst made only minor forecast adjustments, increasing wholesale subscriber estimates and capital expenditure assumptions, while maintaining the view the acquired customer bases provide medium-term earnings upside through margin enhancement and service upgrades.

This report was published on June 16, 2026.

Target price is $6.87 Current Price is $5.20 Difference: $1.67
If ABB meets the Canaccord Genuity target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $6.08, suggesting upside of 16.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 20.3, implying annual growth of 81.4%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 25.8.

Forecast for FY27:

Current consensus EPS estimate is 27.9, implying annual growth of 37.4%.
Current consensus DPS estimate is 7.6, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 18.7.

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

Jarden rates ((ABB)) as Neutral (3) –

Jarden maintains a Neutral rating for Aussie Broadband with a $5.50 target price following the finalized execution of its comprehensive suite of strategic corporate transactions.

The restructuring transitions the asset framework into a large-scale, multi-channel scaling platform by combining key telecommunication acquisitions with selected non-core retail divestments.

Near-term residential subscriber accumulation profiles have slowed down as expected due to rising domestic market churn and competitive base pressures.

The analyst directs long-term focus toward upcoming FY28 operational integration milestones and an extensive technical re-platforming program to unlock deep structural cost efficiencies.

Jarden concludes as normalised earnings trajectories remain stable, this leaves the equity valuation well supported by current trading cash flow multiples as operational channels consolidate.

This report was published on June 15, 2026.

Target price is $5.50 Current Price is $5.20 Difference: $0.3
If ABB meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $6.08, suggesting upside of 16.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 5.40 cents and EPS of 23.70 cents.
At the last closing share price the estimated dividend yield is 1.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.3, implying annual growth of 81.4%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 25.8.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 7.00 cents and EPS of 32.90 cents.
At the last closing share price the estimated dividend yield is 1.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.9, implying annual growth of 37.4%.
Current consensus DPS estimate is 7.6, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 18.7.

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

ADH    ADAIRS LIMITED

Furniture & Renovation – Overnight Price: $1.33

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

Jarden notes consumer conditions have softened and cost inflation has become elevated since last updating Adairs in February so estimates are revised to reflect a weaker retail outlook and in FY27 now forecasts a -1.5% contraction in like-for-like sales, recovering to growth of 5% in FY28.

The broker calculates the market is already implying a -3.4% like-for-like decline in FY27 without any fixed cost reductions, and assumes the PE settles to around 9x with the stock currently trading on 7.9x FY27 PE, a -21% discount to its long-term average.

Over the next few months the broker suspects investors will start to rethink their underweight positioning as they look to the prospect of rate cuts and easier comparables. Overweight retained. Target is reduced to $1.90 from $2.30.

This report was published on June 11, 2026.

Target price is $1.90 Current Price is $1.33 Difference: $0.57
If ADH meets the Jarden target it will return approximately 43% (excluding dividends, fees and charges).
Current consensus price target is $1.61, suggesting upside of 17.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.60 cents and EPS of 19.10 cents.
At the last closing share price the estimated dividend yield is 7.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.96.

How do these forecasts compare to market consensus projections?

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 6.6%.
Current consensus EPS estimate suggests the PER is 8.0.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 9.60 cents and EPS of 15.90 cents.
At the last closing share price the estimated dividend yield is 7.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.36.

How do these forecasts compare to market consensus projections?

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 9.0%.
Current consensus EPS estimate suggests the PER is 6.7.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AUC    AUSGOLD LIMITED

Gold & Silver – Overnight Price: $0.89

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

Canaccord Genuity maintains a Speculative Buy rating for Ausgold with a $3.45 target price following high-grade extensional and infill drilling results at the Katanning Gold Project.

Operational intercepts within the Central and Northern Zones demonstrated excellent grade reconciliation, with 80% of infill data returning higher grades than the underlying mineral resource model.

The analyst notes an additional 25,000m drilling campaign is being prepared to further de-risk the first two years of the open-pit mine plan.

Deep diamond drilling down-plunge of the current Datatine deposit uncovered deep extension potential, prompting underground mining studies to assess an optimized standalone processing scenario.

The broker-modeled mining scenario outlines an average annual production profile of 116koz over a ten-and-a-half-year life of mine with an upfront capital expenditure of -$390m.

This report was published on June 16, 2026.

Target price is $3.45 Current Price is $0.89 Difference: $2.56
If AUC meets the Canaccord Genuity target it will return approximately 288% (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

CCP    CREDIT CORP GROUP LIMITED

Business & Consumer Credit – Overnight Price: $12.69

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

Canaccord Genuity retains a Buy rating for Credit Corp with a $19.70 target price, viewing the stock as undervalued at a historically high discount to ASX peers and under 8x FY26 NPAT, with US debt buying returns improving, the Australian lending book continuing to surprise to the upside, and AU debt buying conditions showing signs of a turn.

FY26 NPAT is estimated to land just below the midpoint of $100m-$110m guidance, with FY27 forecast at approximately 10% growth driven by AU lending and US debt buying operating leverage.

The analyst estimates an EPS CAGR of 12% between FY24 and FY27, with dividends contributing a further 5%-6% per annum to total returns.

Commentary identifies potential re-rating catalysts, including clarity on the non-binding indicative proposal for Humm Group (HUM), achievement of FY26 earnings guidance, and capital management updates including upsizing of credit facilities.

Minor forecast adjustments have been made, largely reflecting changes in collection assumptions.

This report was published on June 16, 2026.

Target price is $19.70 Current Price is $12.69 Difference: $7.01
If CCP meets the Canaccord Genuity target it will return approximately 55% (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

CSX    CLEANSPACE HOLDINGS LIMITED

Medical Equipment & Devices – Overnight Price: $0.40

Research as a Service (RaaS) rates ((CSX)) as No Rating (-1) –

Research as a Service (RaaS) highlights the continued product development and innovation from CleanSpace as it has received regulatory approval in Europe for its first loose-fitting PAPR unit, AGILE. The unit addresses the strict regulations around tight-fitting masks.

AGILE is expected to contribute to the broker’s forecast revenue growth of 17% between FY27 and FY30. Regulatory approval in Australia is progressing expected in coming months. Valuation of $0.90 is unchanged.

Research as a Service (RaaS) research doesn’t carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.

This report was published on June 15, 2026.

Target price is $0.90 Current Price is $0.40 Difference: $0.505
If CSX meets the Research as a Service (RaaS) target it will return approximately 128% (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 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 98.75.

Forecast for FY27:

Research as a Service (RaaS) forecasts a full year FY27 dividend of 0.00 cents and EPS of 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.21.

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

DRO    DRONESHIELD LIMITED

Military – Overnight Price: $2.88

Canaccord Genuity rates ((DRO)) as Initiation of coverage with Speculative Buy (1) –

Canaccord Genuity initiates coverage on DroneShield with a Speculative Buy rating and a $3.75 target price amid an accelerating global procurement environment for counter-drone technologies.

The pure-play contractor maintains active hardware deployments spanning 70 countries, supported by a proprietary signal database and vertically integrated manufacturing capability.

The analyst highlights strong 65% gross margins and an extensive multi-billion dollar project pipeline expected to drive high operating leverage and robust free cash flow expansion through to FY28.

Structural market demand remains underpinned by recent geopolitical friction points and compressed allied defense procurement timelines across NATO member states.

The investment thesis notes the group targets $1bn in annual revenue by the FY30 horizon, with software subscription contributions projected to expand to 30%.

This report was published on June 16, 2026.

Target price is $3.75 Current Price is $2.88 Difference: $0.87
If DRO meets the Canaccord Genuity target it will return approximately 30% (excluding dividends, fees and charges).

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EIQ    ECHOIQ LIMITED

Medical Equipment & Devices – Overnight Price: $1.17

Shaw and Partners rates ((EIQ)) as Initiation of coverage with Buy (1) –

Shaw and Partners initiates research coverage on EchoIQ with a Buy rating and a $1.50 target price.

The artificial intelligence-driven cardiovascular diagnostics entity focuses on automated cloud-based analysis of echocardiograms to optimize the detection and clinical management of structural heart disease.

Advanced validation results from the Mayo Clinic Platform demonstrate high diagnostic sensitivity and accuracy metrics across flagship clinical testing modules.

Commercial scalability is supported by an exclusive data licensing partnership with the National Echo Database of Australia and New Zealand along with integrated corporate distribution agreements.

The analyst notes imminent United States regulatory clearance for the group’s proprietary heart failure module represents a key near-term operational catalyst to unlock a multi-billion dollar addressable market opportunity.

This report was published on June 15, 2026.

Target price is $1.50 Current Price is $1.17 Difference: $0.335
If EIQ meets the Shaw and Partners target it will return approximately 29% (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 2.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 55.48.

Forecast for FY27:

Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 83.21.

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

ELS    ELSIGHT LIMITED

Military – Overnight Price: $8.19

Canaccord Genuity rates ((ELS)) as Initiation of coverage with Speculative Buy (1) –

Canaccord Genuity initiates coverage on Elsight with a Speculative Buy rating and a $10.90 target price based on escalating multi-link connectivity demand for unmanned aerial systems.

The communication provider services more than 80 original equipment manufacturers operating beyond visual line of sight.

Commentary states accelerated spending on drone defenses due to the Ukraine-Russia conflict underpins a major structural demand tailwind within European markets.

The analyst notes high 75% gross margins and a capital-light operating architecture combine to deliver strong near-term free cash flow generation.

Hardware placements act as an initial commercial lead indicator to build long-term high-margin recurring software subscription streams.

This report was published on June 16, 2026.

Target price is $10.90 Current Price is $8.19 Difference: $2.71
If ELS meets the Canaccord Genuity target it will return approximately 33% (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

EOS    ELECTRO OPTIC SYSTEMS HOLDINGS LIMITED

Military – Overnight Price: $8.74

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

Canaccord Genuity maintains a Buy rating on Electro Optic Systems with an unchanged $14.00 target price following an upgrade to FY26 revenue guidance and continued momentum across its defence businesses.

The company now expects FY26 revenue of $240-270m for the core business excluding MARSS, implying combined FY26 revenue of approximately $274-304m including the broker’s MARSS forecast of $34m, while total group backlog stands at $726m with around 60-80% expected to convert into revenue during 2026 and 2027.

An additional US$5m order from L3Harris for remote weapon systems marks the sixth such order secured during 2026, reflecting strong demand for counter-drone capabilities and supporting the investment thesis for further defence spending growth.

The analyst increased FY26, FY27 and FY28 revenue forecasts by 10%, 1% and 4% respectively, while noting the recent $230m capital raising leaves the company with pro-forma net cash of approximately $270m to pursue expansion opportunities.

Long-term growth opportunities remain centred on MARSS command-and-control systems, remote weapon systems, high-energy laser weapons and the commercialisation of space control technologies.

This report was published on June 16, 2026.

Target price is $14.00 Current Price is $8.74 Difference: $5.26
If EOS meets the Canaccord Genuity target it will return approximately 60% (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

HLO    HELLOWORLD TRAVEL LIMITED

Travel, Leisure & Tourism – Overnight Price: $1.50

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

Helloworld Travel has reduced FY26 EBITDA guidance by -12% to $57-$62m to reflect the effects of the war in the Middle East. The dividend is to be similar to the interim dividend of five cents and, while below expectations, is still supportive of a 7% yield, Jarden notes.

Cancellations and re-bookings have weighed on demand with ticketed air sales for the fourth quarter now down -4%.

The company expects leisure demand will recover quickly following a resolution to the conflict and return to pre-conflict levels in 60-90 days.

The product mix is resilient and this makes the broker confident the company is well-positioned to navigate the current challenges. Overweight retained. Target is $2.90.

This report was published on June 10, 2026.

Target price is $2.90 Current Price is $1.50 Difference: $1.395
If HLO meets the Jarden target it will return approximately 93% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 21.00 cents and EPS of 23.10 cents.
At the last closing share price the estimated dividend yield is 13.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.52.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 17.00 cents and EPS of 23.90 cents.
At the last closing share price the estimated dividend yield is 11.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.30.

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

IGO    IGO LIMITED

Nickel – Overnight Price: $8.77

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

Canaccord Genuity maintains its Buy rating for IGO Ltd with its target price decreased to $10.00 following a processing plant fire at the Greenbushes CGP3 facility in Western Australia.

While FY26 operational guidance remains unchanged due to the imminent close of the financial period, the infrastructure damage is projected to trigger a three-month shutdown and subsequent ramp-up delay stretching into FY27.

The analyst incorporates a -19% reduction to FY27 EBITDA assumptions and a -15% drop to FY28 estimates, alongside an additional -$50m in capital remediation costs.

This regional supply disruption is expected to induce structural deficits and upward pricing pressure across global lithium markets.

Fundamental valuation metrics remain supportive, underpinned by a normalised long-term spodumene concentrate price assumption of US$1,500/t.

This report was published on June 16, 2026.

Target price is $10.00 Current Price is $8.77 Difference: $1.23
If IGO meets the Canaccord Genuity target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $8.91, suggesting downside of -0.2%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 13.8, implying annual growth of N/A.
Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.0%.
Current consensus EPS estimate suggests the PER is 64.7.

Forecast for FY27:

Current consensus EPS estimate is 103.8, implying annual growth of 652.2%.
Current consensus DPS estimate is 13.0, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 8.6.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MP1    MEGAPORT LIMITED

Cloud services – Overnight Price: $19.43

Canaccord Genuity rates ((MP1)) as Buy (1) –

Canaccord Genuity has lifted its price target for Megaport to $22.50 from $15.85 while retaining its Buy rating.

This report was published on June 9, 2026.

Target price is $22.50 Current Price is $19.43 Difference: $3.07
If MP1 meets the Canaccord Genuity target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $20.35, suggesting upside of 2.3%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is -1.9, 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 N/A.

Forecast for FY27:

Current consensus EPS estimate is 17.8, 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 111.7.

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

QAL    QUALITAS LIMITED

Wealth Management & Investments – Overnight Price: $2.88

Jarden rates ((QAL)) as Buy (1) –

Jarden maintains a Buy rating for Qualitas with a $3.80 target price following the strategic acquisition of London-based commercial real estate private credit manager Starz Real Estate.

The total consideration of -$36.5m will be funded entirely from existing cash reserves, comprising $28m for co-investment positions and $8.5m for net positive working capital.

Through this transaction, the company establishes its first offshore platform and acquires a ten-person team managing a GBP376m portfolio across 11 investments in the United Kingdom and Europe.

The acquired loan portfolio is backed by two prominent institutional limited partners including a major sovereign wealth fund and a global pension fund.

The analyst notes the transaction is not expected to materially impact FY26 or FY27 earnings but successfully delivers a low-risk entry into the European marketplace.

This report was published on June 15, 2026.

Target price is $3.80 Current Price is $2.88 Difference: $0.92
If QAL meets the Jarden target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $3.89, suggesting upside of 34.5%(ex-dividends)

Forecast for FY26:

Current consensus EPS estimate is 14.7, implying annual growth of 28.5%.
Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 19.7.

Forecast for FY27:

Current consensus EPS estimate is 17.3, implying annual growth of 17.7%.
Current consensus DPS estimate is 13.1, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 16.7.

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

SHL    SONIC HEALTHCARE LIMITED

Healthcare services – Overnight Price: $19.66

Jarden rates ((SHL)) as Neutral (3) –

Jarden maintains a Neutral rating for Sonic Healthcare with its target price increased to $22.30 following the completion of a strategic sale and leaseback transaction for the Bowen Hills Laboratory.

The asset divestment generated immediate cash proceeds of $445m under a 20-year triple-net lease arrangement to substantially improve short-term cash flow optimisation paths.

Capital management parameters track the utilisation of unbooked accumulated capital losses to reduce transaction tax liabilities while systematically lowering overall gearing ratios.

The analyst notes near-term diluted earnings per share face minor negative adjustments to account for incremental depreciation expansions and higher embedded lease interest expenses.

The investment thesis balances these capital management benefits against ongoing global funding pressures and regulatory reimbursement headwinds across prominent European and domestic pathologies.

This report was published on June 15, 2026.

Target price is $22.30 Current Price is $19.66 Difference: $2.64
If SHL meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $24.47, suggesting upside of 22.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 108.00 cents and EPS of 128.60 cents.
At the last closing share price the estimated dividend yield is 5.49%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 123.6, implying annual growth of 15.6%.
Current consensus DPS estimate is 105.4, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 16.1.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 110.00 cents and EPS of 119.50 cents.
At the last closing share price the estimated dividend yield is 5.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 134.5, implying annual growth of 8.8%.
Current consensus DPS estimate is 107.6, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 14.8.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SUL    SUPER RETAIL GROUP LIMITED

Automobiles & Components – Overnight Price: $12.67

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

Jarden highlights the clear strategy outlined by Super Retail, whereby management is focused on strengthening what the business does well and on a lower cost base.

Management also stated external opportunities were not envisaged in the near term and outlined an opportunity for around 134 more stores by FY31.

It was clear to the broker there is a medium-term opportunity to expand margins, particularly in Rebel, via better markdown management, mix and own-brand sales.

Jarden retains an Overweight rating, believing the valuation is attractive, with a strong balance sheet and brands that are gaining share. The stock is seen leveraged to a cyclical recovery and the broker raises its target to $15.20 from $14.90.

This report was published on June 11, 2026.

Target price is $15.20 Current Price is $12.67 Difference: $2.53
If SUL meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $13.68, suggesting upside of 5.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 72.00 cents and EPS of 87.20 cents.
At the last closing share price the estimated dividend yield is 5.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 90.2, implying annual growth of -8.2%.
Current consensus DPS estimate is 57.5, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 14.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 80.00 cents and EPS of 101.20 cents.
At the last closing share price the estimated dividend yield is 6.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 97.6, implying annual growth of 8.2%.
Current consensus DPS estimate is 63.2, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 13.3.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SXE    SOUTHERN CROSS ELECTRICAL ENGINEERING LIMITED

Mining Sector Contracting – Overnight Price: $4.82

Moelis rates ((SXE)) as Buy (1) –

Moelis retains a Buy rating for Southern Cross Electrical Engineering with its target price increased to $4.70, following a strong trading update.

Management provided maiden FY27 EBITDA guidance of at least $100m —a material step-up on prior consensus of $80m— alongside an upgrade to FY26 EBITDA guidance to at least $75m.

New work awards totalling $150m include the NextDC ((NXT)) S4 data centre, a switchboard order for a major data centre, and Rio Tinto’s ((RIO)) Pilbara MCA, underpinning visible FY27 earnings inflection as data centre wins translate into a material earnings step change.

The analyst revises FY26-FY28 EPS estimates by -2.3%/17.6%/16.9% to 15.3c/19.5c/20.1c respectively, with DPS held steady at 8.0c across FY26-FY28.

Management noted the current tender pipeline exceeds $1bn and FY27 data centre revenue is expected to be approximately three times FY26 levels of $120m.

The investment thesis centred on strong structural tailwinds in electrification and decarbonisation translating into data centre and infrastructure spend.

This report was published on June 16, 2026.

Target price is $4.70 Current Price is $4.82 Difference: minus $0.12 (current price is over target).
If SXE meets the Moelis target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 8.00 cents and EPS of 15.30 cents.
At the last closing share price the estimated dividend yield is 1.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.50.

Forecast for FY27:

Moelis forecasts a full year FY27 dividend of 8.00 cents and EPS of 19.50 cents.
At the last closing share price the estimated dividend yield is 1.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.72.

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

TCL    TRANSURBAN GROUP LIMITED

Infrastructure & Utilities – Overnight Price: $15.07

Jarden rates ((TCL)) as Downgrade to Underweight from Neutral (4) –

Jarden downgrades Transurban Group to Underweight from Neutral as the stock is now trading at a forecast 4.7% FY27 yield, below the Australian government 10-year bond yield at 4.90%.

The broker also highlights the risks to the fourth quarter traffic outlook as a result of geopolitical and macroeconomic uncertainty although acknowledges the update on April volumes was better than expected.

FY26 free cash flow estimates are marginally increased, reflecting FX effects and higher toll prices in the US, which drives a slight increase to the target, to $13.10 from $12.90.

This report was published on June 11, 2026.

Target price is $13.10 Current Price is $15.07 Difference: minus $1.97 (current price is over target).
If TCL meets the Jarden target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $14.26, suggesting downside of -3.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 69.00 cents and EPS of 16.20 cents.
At the last closing share price the estimated dividend yield is 4.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 93.02.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 38.6, implying annual growth of 801.9%.
Current consensus DPS estimate is 69.1, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 38.3.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 72.00 cents and EPS of 22.30 cents.
At the last closing share price the estimated dividend yield is 4.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 67.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 37.4, implying annual growth of -3.1%.
Current consensus DPS estimate is 72.7, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 39.5.

Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WBC    WESTPAC BANKING CORPORATION

Banks – Overnight Price: $35.75

Jarden rates ((WBC)) as Sell (5) –

Westpac is now forecasting a -48% decline in investor home loan credit growth from FY26-FY27, with total housing credit growth forecast to drop to 4.7% in FY27 from 6.5% in FY26.

Commentary also notes the market update provided signaled the digital banking project, Unite, plans to have one portal to view, service and originate all customer needs, simplifying 17 sales systems and 34 authentication systems.

Jarden remains sceptical about the adoption of AI planning to simplify processes across lending, consumer finance and customer service. Sell rating and $31 target maintained.

This report was published on June 11, 2026.

Target price is $31.00 Current Price is $35.75 Difference: minus $4.75 (current price is over target).
If WBC meets the Jarden target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $33.85, suggesting downside of -4.8%(ex-dividends)
The company’s fiscal year ends in September.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 155.00 cents and EPS of 206.00 cents.
At the last closing share price the estimated dividend yield is 4.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 207.3, implying annual growth of 2.7%.
Current consensus DPS estimate is 157.8, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 17.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 157.00 cents and EPS of 212.00 cents.
At the last closing share price the estimated dividend yield is 4.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 215.5, implying annual growth of 4.0%.
Current consensus DPS estimate is 162.2, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 16.5.

Market Sentiment: -0.7
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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