Daily Market Reports | 10:45 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)
AMC APE ARB COF EDV KYP LNW MEI MSB NEU NXG PNI TLS
AMC AMCOR PLC
Paper & Packaging - Overnight Price: $67.16
Jarden rates ((AMC)) as Overweight (2) -
Jarden maintains an Overweight rating for Amcor with its target price decreased to $75.70 from $75.90 ahead of the company's FY26 financial results.
The broker's estimates project FY26 core earnings of US$4.00 per share, sitting near the lower end of the company's recently downgraded US$3.98 to US$4.03 guidance range.
While industry volume trends show resilience, the analyst highlights ongoing performance variability amongst key consumer packaging goods customers.
This uncertainty prompted the analyst to extend the expected volume recovery path for the Rigids segment into the second half of FY27, resulting in a -1.6% downgrade to FY27 core earnings estimates and a -1.5% reduction for FY28.
The upcoming result will draw focus towards the company's elevated financial leverage, which sits above targets at 3.4x to 3.5x, alongside its free cash flow generation and progress towards achieving US$260m in FY27 synergy targets.
This report was published on August 5, 2026.
Target price is $75.70 Current Price is $67.16 Difference: $8.54
If AMC meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $67.57, suggesting upside of 0.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 386.29 cents and EPS of 584.92 cents.
At the last closing share price the estimated dividend yield is 5.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 566.5, implying annual growth of N/A.
Current consensus DPS estimate is 368.0, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 11.9.
Forecast for FY27:
Jarden forecasts a full year FY27 dividend of 389.94 cents and EPS of 622.77 cents.
At the last closing share price the estimated dividend yield is 5.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 609.8, implying annual growth of 7.6%.
Current consensus DPS estimate is 369.0, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 11.0.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
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: $24.04
Canaccord Genuity rates ((APE)) as Buy (1) -
Canaccord Genuity maintains a Buy rating for Eagers Automotive with a $28.50 target price following July Australian vehicle sales data showing 4.2% growth on the prior corresponding period.
Electric vehicle expansion drove overall momentum, with BYD delivering 7,857 units in July for a 70.5% year-on-year increase alongside strong additional volumes from Tesla.
Toyota sales reached 20,409 units during the month, signalling an expected 35% volume uplift across the second half of 2026 compared to the first half of the year as major model order backlogs clear.
Despite specific brand weaknesses across select Japanese manufacturers, commentary states overall industry volumes remain on track to break the 2025 record of 1.241m sales.
The analyst views these near-term industry trends as strongly supportive of the company's superior margin profile, placing upside pressure on its estimate for FY26 earnings.
This report was published on August 3, 2026.
Target price is $28.50 Current Price is $24.04 Difference: $4.46
If APE meets the Canaccord Genuity target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $26.47, suggesting upside of 10.1%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 107.5, implying annual growth of 23.4%.
Current consensus DPS estimate is 78.0, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 22.4.
Forecast for FY27:
Current consensus EPS estimate is 122.6, implying annual growth of 14.0%.
Current consensus DPS estimate is 84.6, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 19.6.
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: $20.48
Canaccord Genuity rates ((ARB)) as Hold (3) -
Canaccord Genuity maintains a Hold rating for ARB Corp with a $21.80 target price following weak July auto sales data (specifically related to ARB).
Tracking the top 11 models that typically drive aftermarket accessory sales, the broker notes a -16.4% year-on-year decline for July, which follows consecutive drops of -29.6% in May and -18.2% in June.
Despite headline weakness, the analyst expects a gradual second-derivative improvement in the coming months, primarily supported by Toyota accelerating vehicle deliveries to clear its order backlog alongside a more favourable comparative data period.
Due to an established two-month lag between vehicle deliveries and subsequent aftermarket accessory purchases, the analyst warns that current soft delivery volumes pose an earnings risk for the first half of FY27, even if gross profit margins improve.
Commentary concludes the anticipated sales recovery is more likely to translate into a tangible earnings benefit during the second half of FY27.
This report was published on August 6, 2026.
Target price is $21.80 Current Price is $20.48 Difference: $1.32
If ARB meets the Canaccord Genuity target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $24.03, suggesting upside of 17.4%(ex-dividends)
Forecast for FY26:
Current consensus EPS estimate is 102.4, implying annual growth of -13.0%.
Current consensus DPS estimate is 70.7, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 20.0.
Forecast for FY27:
Current consensus EPS estimate is 112.7, implying annual growth of 10.1%.
Current consensus DPS estimate is 67.5, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 18.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
COF CENTURIA OFFICE REIT
REITs - Overnight Price: $0.90
Moelis rates ((COF)) as Buy (1) -
Moelis maintains a Buy rating for Centuria Office REIT, with its target price decreased to $1.44 from $1.57 following the release of FY26 earnings.
While the portfolio remains well-leased with a 9.0% vacancy rate and decent like-for-like rent growth, elevated dividend payouts continue driving gearing higher to 43.7%.
The analyst notes a tightening office market is necessary to unlock the deep value of the trust, given shares currently trade at a -67% implied discount to replacement cost.
More conservative assumptions surrounding interest rates, leasing outcomes, and tenant incentives prompted reductions to the broker's estimates for medium-term earnings per share.
With net tangible assets falling to $1.66 per unit, investors must continue waiting for an improved broader market environment to support meaningful rental income uplift, the report concludes.
This report was published on August 6, 2026.
Target price is $1.44 Current Price is $0.90 Difference: $0.54
If COF meets the Moelis target it will return approximately 60% (excluding dividends, fees and charges).
Current consensus price target is $0.90, suggesting downside of -0.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 9.00 cents and EPS of 11.30 cents.
At the last closing share price the estimated dividend yield is 10.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.96.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.3, implying annual growth of 22.3%.
Current consensus DPS estimate is 9.0, implying a prospective dividend yield of 10.0%.
Current consensus EPS estimate suggests the PER is 8.0.
Forecast for FY28:
Moelis forecasts a full year FY28 dividend of 9.40 cents and EPS of 11.60 cents.
At the last closing share price the estimated dividend yield is 10.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.6, implying annual growth of 2.7%.
Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 9.9%.
Current consensus EPS estimate suggests the PER is 7.8.
Market Sentiment: -0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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