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)
AMP B4P BET BNZ BOE (2) BTL (2) BTR CIA CNI CSC CYL DRO EMR EXR FFM GDF GGP GL1 ILA IOD KCN (2) LM8 LRK LTR MEI MIN MMI MYX NCK NST OBM PDI PLS (2) PNR PRU RFF RMS (2) RSG SLD SLS STM VGL WDS WEB
AMP AMP LIMITED
Wealth Management & Investments - Overnight Price: $2.12
Jarden rates ((AMP)) as Neutral (3) -
Jarden maintains a Neutral rating for AMP with its target price increased to $2.30 from $2.00 following an analysis of statutory filings for China Life Pension Company.
The broker explains China Life Pension Company represents a capital-light fee business exposed to a maturing pension system projected to compound at 14% to FY30 in Pillar 2.
Chinese pension penetration sitting at 15% of gross domestic product offers significant expansion room relative to mature markets exceeding 150%.
Upward revisions to FY30 earnings per share estimates of 11% sit 12% above consensus projections, with total associates anticipated to drive over 40% of group net profit after tax by FY30.
Value attributed to Chinese associates reaches 60c per share within a sum-of-the-parts valuation applying a 13x price-to-earnings multiple, though a recent 36% share price rally prompts the analyst to maintain its neutral rating.
This report was published on July 31, 2026.
Target price is $2.30 Current Price is $2.12 Difference: $0.18
If AMP meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $2.11, suggesting downside of -2.0%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 13.1, implying annual growth of 149.0%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 16.4.
Forecast for FY27:
Current consensus EPS estimate is 14.0, implying annual growth of 6.9%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 15.4.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
B4P BEFOREPAY GROUP LIMITED
Diversified Financials - Overnight Price: $1.52
Shaw and Partners rates ((B4P)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Beforepay Group with its target price increased to $2.90 from $2.70 following a quarterly update revealing the broad implementation of a 2% monthly interest charge across nearly all Pay Advance loans.
The analyst projects this price increase will generate approximately $12m in annualised incremental revenue, flowing directly to the bottom line given the company's tax position.
Despite the pricing adjustment, demand destruction appears minimal, with active users growing 2.6% and average cash advances rising 16% compared to the prior corresponding period.
Leveraging a new $100m debt facility at lower interest costs, the personal loan segment grew originations to $7.2m in the June quarter, which the broker expects will scale to a $20m book by the end of FY27.
Following the removal of -$0.35 in valuation attributed to Carrington Labs, the revised target price reflects a 15%-20% premium to the small-cap financial sector.
This report was published on July 31, 2026.
Target price is $2.90 Current Price is $1.52 Difference: $1.38
If B4P meets the Shaw and Partners target it will return approximately 91% (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 15.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.07.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of 38.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.94.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BET BETMAKERS TECHNOLOGY GROUP LIMITED
Gaming - Overnight Price: $0.17
Canaccord Genuity rates ((BET)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Betmakers Technology with its target price increased to $0.25 from $0.24 following a strong fourth-quarter FY26 update demonstrating expanding operational leverage.
Fourth-quarter adjusted EBITDA reached $4.5m to beat broker projections of $3.4m, underpinned by solid cost discipline and expanding gross margins of 68.5%.
Operating cash flow generated $3.2m during the quarter, lifting closing cash balances to $15.6m as at June 2026.
Expansion into iGaming via two new customer agreements provides an entry into adjacent growth markets, while recent large customer deployments are expected to drive ongoing adjusted EBITDA growth.
Minor upward revisions to long-term valuation models prompt the analyst to reiterate a positive stance as annualised adjusted EBITDA approaches management's $20m 1H27 milestone target.
This report was published on August 3, 2026.
Target price is $0.25 Current Price is $0.17 Difference: $0.085
If BET meets the Canaccord Genuity target it will return approximately 52% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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