Daily Market Reports | 11:00 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
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 AFG AIA ALL ART AVE BTR CYM EHL EIQ GMD JYC MMI MYE POL QAL SGLLV SPK TEA YRL
SPK SPARK NEW ZEALAND LIMITED
Telecommunication - Overnight Price: $1.53
Jarden rates ((SPK)) as Upgrade to Overweight from Neutral (2) -
Jarden upgrades its rating for Spark New Zealand to Overweight with a NZ$2.27 target price following recent share price underperformance.
The analyst notes a compelling valuation entry level has emerged after shares dropped -14% compared to a 2% rise across the broader market index.
Jarden comments that growing overall earnings looks difficult given legacy pressures across the business, particularly concerning broadband gross margins.
In addition, future dividend growth appears unlikely unless capital expenditure is meaningfully reduced.
Mobile divisions remain a constructive earnings lever, the broker concludes, leaving group profitability highly dependent on continued benign regulatory conditions.
This report was published on June 24, 2026.
Current Price is $1.53. Target price not assessed.
Current consensus price target is N/A
Forecast for FY26:
Current consensus EPS estimate is 10.1, implying annual growth of N/A.
Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 8.7%.
Current consensus EPS estimate suggests the PER is 15.2.
Forecast for FY27:
Current consensus EPS estimate is 12.1, implying annual growth of 19.8%.
Current consensus DPS estimate is 13.6, implying a prospective dividend yield of 8.8%.
Current consensus EPS estimate suggests the PER is 12.7.
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
TEA TASMEA LIMITED
Mining Sector Contracting - Overnight Price: $9.57
Canaccord Genuity rates ((TEA)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Tasmea with its target price increased to $10.85 following the announced acquisition of JPS Group.
The $75m purchase provides immediate exposure to the liquefied natural gas and critical energy infrastructure sectors via long-term master service agreements.
The analyst anticipates the transaction will prove highly accretive given the recurring nature of shutdown activity across ageing domestic energy assets.
Forward estimates now incorporate the new earnings base, assuming the acquired entity delivers $12m in EBIT during FY27.
Canaccord comments further revenue synergies appear likely over the medium term as the company cross-sells existing specialist services into a new blue-chip customer base.
This report was published on June 26, 2026.
Target price is $10.85 Current Price is $9.57 Difference: $1.28
If TEA meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
YRL YANDAL RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.18
Shaw and Partners rates ((YRL)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Yandal Resources with a $0.51 target price following encouraging diamond drilling results at the Flushing Meadows deposit.
The first deeper drill hole into fresh rock successfully intercepted significant gold mineralisation at 300m below the surface, validating structural geological concepts across the broader strike length.
The analyst considers the current market capitalisation heavily discounted relative to the existing 450koz resource inventory located primarily on granted mining leases.
Commentary concludes extensional drilling momentum provides a realistic pathway to achieving a combined 1Moz resource baseline within the next year.
Achieving this critical mass scale could unlock synergistic corporate appeal given the abundance of existing third-party processing infrastructure across the Yandal region, the report concludes.
This report was published on June 26, 2026.
Target price is $0.51 Current Price is $0.18 Difference: $0.325
If YRL meets the Shaw and Partners target it will return approximately 176% (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 2.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.41.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 1.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.74.
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.