Daily Market Reports | 1:20 PM
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)
AD8 (2) BFG CLW GG8 GOZ NWS QBE RXL SKG TPW
AD8 AUDINATE GROUP LIMITED
Hardware & Equipment - Overnight Price: $2.33
Moelis rates ((AD8)) as Buy (1) -
Moelis maintains a Buy rating for Audinate Group with its target price decreased to $6.84 from $7.08 following FY26 results.
The analyst highlights that FY26 gross profit reached US$20.3m in the second half, supported by a strategic focus on AVIO Adaptor sales to drive market proliferation and component margins.
The broker's estimates rebase earnings projections downwards to reflect sustained currency strength and a more gradual revenue ramp-up across emerging categories.
Management demonstrates sound cost control, providing a clearer roadmap towards positive free cash flow beyond FY27.
The analyst views current valuation levels as an attractive entry point to capture long-term structural growth across Dante audio and video networking platforms.
This report was published on August 18, 2026.
Target price is $6.84 Current Price is $2.33 Difference: $4.51
If AD8 meets the Moelis target it will return approximately 194% (excluding dividends, fees and charges).
Current consensus price target is $4.35, suggesting upside of 80.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 13.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -16.4, 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 FY28:
Moelis forecasts a full year FY28 dividend of 0.00 cents and EPS of minus 7.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 29.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -11.9, 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.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Shaw and Partners rates ((AD8)) as Buy (1) -
Shaw and Partners maintains a Buy rating for Audinate Group with a $4.90 target price following a better-than-expected FY26 result and FY27 guide.
Total revenue reached US$46.0m while EBITDA recorded a loss of -$3.6m, outperforming forecasts due to lower operating costs and strict expense management.
The analyst highlights FY27 growth is predominantly underpinned by core Dante products, providing a cleaner earnings setup characterised by flat AUD operating expenses and expanding operating leverage.
The broker's estimates project free cash flow breakeven achieved during FY28 alongside robust mid-teens gross profit growth.
Management notes strong leading indicators across design wins and product launches, reinforcing long-term platform monetisation potential across audio, video, and control solutions.
This report was published on August 18, 2026.
Target price is $4.90 Current Price is $2.33 Difference: $2.57
If AD8 meets the Shaw and Partners target it will return approximately 110% (excluding dividends, fees and charges).
Current consensus price target is $4.35, suggesting upside of 80.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 11.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 20.62.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -16.4, 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 FY28:
Shaw and Partners forecasts a full year FY28 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 46.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -11.9, 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.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BFG BELL FINANCIAL GROUP LIMITED
Diversified Financials - Overnight Price: $1.53
Research as a Service (RaaS) rates ((BFG)) as No Rating (-1) -
Research as a Service (RaaS) views Bell Financial Group's first-half FY26 result positively, with profit rising 132% to $21.7m, 7% ahead of the analyst's forecast.
Markets delivered an $11.4m profit turnaround, supported by stronger equity capital markets (ECM) activity and investment gains, the analyst explains.
Platforms profit also increased 8% despite costs associated with launching the new Bell Potter Private Wealth platform.
Going live in July, Platforms has already attracted $0.5bn of inflows. The analyst anticipates Platforms growth will help offset softer Markets earnings in the second half.
A stable cash-rate environment, strong balance sheet and improving equity market are seen as providing further support.
The valuation increases to $2.50 from $2.38. Research as a Service doesn't assign a rating or price target. Investors can draw conclusions from valuations and commentary.
This report was published on August 17, 2026.
Target price is $2.50 Current Price is $1.53 Difference: $0.97
If BFG meets the Research as a Service (RaaS) target it will return approximately 63% (excluding dividends, fees and charges).
Forecast for FY26:
Research as a Service (RaaS) forecasts a full year FY26 dividend of 11.00 cents and EPS of 14.30 cents.
At the last closing share price the estimated dividend yield is 7.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.70.
Forecast for FY27:
Research as a Service (RaaS) forecasts a full year FY27 dividend of 11.00 cents and EPS of 15.30 cents.
At the last closing share price the estimated dividend yield is 7.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CLW CHARTER HALL LONG WALE REIT
REITs - Overnight Price: $3.61
Jarden rates ((CLW)) as Underweight (4) -
Jarden retains an Underweight rating for Charter Hall Long WALE REIT with its target price decreased to $3.57 from $3.62 following an assessment of ongoing debt headwinds.
The analyst observes look-through gearing exceeding 40% alongside debt costs of 4.8% compared to a marginal cost of roughly 6%, creating significant earnings headwinds in the absence of interest rate cuts.
The broker's estimates suggest earnings growth lacks compelling appeal in a stable or higher interest rate environment, while a lower rate scenario would offer greater leverage to earnings in peer businesses.
A lack of disclosure regarding look-through debt presents a negative factor, proving most pronounced for the company given $1.3bn in look-through debt and significant upcoming reversion.
This report was published on August 17, 2026.
Target price is $3.57 Current Price is $3.61 Difference: minus $0.04 (current price is over target).
If CLW meets the Jarden target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.76, suggesting upside of 3.2%(ex-dividends)
Forecast for FY27:
Current consensus EPS estimate is 31.5, implying annual growth of -18.6%.
Current consensus DPS estimate is 25.7, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 11.6.
Forecast for FY28:
Current consensus EPS estimate is 31.4, implying annual growth of -0.3%.
Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 11.6.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE
If you already had your free trial, why not join as a paying subscriber? CLICK HERE