Daily Market Reports | 11:20 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
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AAR ABB ADH AMA AMP ARF (2) ASG AX1 BEN BRE BSL CDA CEH CHC DOW DTL EBR EDV EGG EHL EVT FPH GQG GYG HGO ING IPH JHX KGN LGI LIC (2) MAF MP1 MXI NHF NST NWH PLS PLY (2) PWH PWR (2) QAL (2) REG REH RHC RMS RPL RRL TPG VAU
AAR ASTRAL RESOURCES NL
Gold & Silver - Overnight Price: $0.20
Shaw and Partners rates ((AAR)) as Buy (1) -
Shaw and Partners maintains its Buy recommendation for Astral Resources with an unchanged price target of $0.30 following high-grade infill drilling results at the Think Big deposit and key permitting approvals that keep the Feysville gold project on track for early cash flow by mid-2027.
The company released results from a 5,229m infill reverse circulation drilling program at Think Big, highlighting standout intercepts such as 11m at 7.34g/t gold from 38m, while the Native Vegetation Clearing Permit was approved ahead of schedule.
Astral trades at an enterprise value of $268m against a 2.1moz resource base at Mandilla, representing an enterprise value per resource ounce of $128, which sits significantly below the peer average of $206 per ounce.
The analyst notes that this material valuation discount relative to peers like Minerals 260 ((MI6)) offers strong share price upside within a favourable environment for gold.
This report was published on August 24, 2026.
Target price is $0.30 Current Price is $0.20 Difference: $0.105
If AAR meets the Shaw and Partners target it will return approximately 54% (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 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 195.00.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 65.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ABB AUSSIE BROADBAND LIMITED
Telecommunication - Overnight Price: $4.72
Jarden rates ((ABB)) as Overweight (2) -
Jarden maintains its Overweight recommendation for Aussie Broadband with an unchanged target price of $5.50 following a FY26 financial result featuring underlying EBITDA of $165.3m, which came in 1% ahead of the broker's estimates despite gross profit missing by -3%.
Group revenue reached $1,295.4m with residential revenue of $760m broadly in line with consensus, while net adds remained steady.
The company announced a $115m share buyback program to be executed over a 12-month period alongside a final dividend of 3.6c, taking total FY26 dividends to 6.0c.
Management provided FY27 underlying EBITDA guidance of $205m to $215m, with the midpoint aligning closely with consensus expectations.
The analyst notes that benefits associated with technology modernisation have been pushed to FY29, making organic execution of an ambitious FY28 EBITDA target unlikely.
This report was published on August 24, 2026.
Target price is $5.50 Current Price is $4.72 Difference: $0.78
If ABB meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $5.96, suggesting upside of 26.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY27:
Current consensus EPS estimate is 30.3, implying annual growth of N/A.
Current consensus DPS estimate is 7.4, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 15.6.
Forecast for FY28:
Current consensus EPS estimate is 40.1, implying annual growth of 32.3%.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 11.8.
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: $1.50
Jarden rates ((ADH)) as Overweight (2) -
Jarden maintains its Overweight recommendation for Adairs with an unchanged target price of $1.90 following an FY26 financial result featuring second-half net profit after tax approximately 4% ahead of consensus estimates.
Sales and EBIT landed at the upper end of guidance, while gross margin reached 52.9% and cash conversion hit approximately 119%.
The company declared a final dividend of 6.0c per share, beating consensus expectations.
Trading updates for the first eight weeks of FY27 indicate that group sales declined -4.5% year-on-year, heavily impacted by the Focus division, whereas adjusted sales ex-Focus rose 3.3% year-on-year.
The broker suggests further clarity on the Focus turnaround will remain key for market sentiment.
This report was published on August 24, 2026.
Target price is $1.90 Current Price is $1.50 Difference: $0.4
If ADH meets the Jarden target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $1.61, suggesting upside of 7.5%(ex-dividends)
Forecast for FY27:
Current consensus EPS estimate is 19.3, implying annual growth of N/A.
Current consensus DPS estimate is 11.9, implying a prospective dividend yield of 7.9%.
Current consensus EPS estimate suggests the PER is 7.8.
Forecast for FY28:
Current consensus EPS estimate is 24.1, implying annual growth of 24.9%.
Current consensus DPS estimate is 15.8, implying a prospective dividend yield of 10.5%.
Current consensus EPS estimate suggests the PER is 6.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AMA AMA GROUP LIMITED
Automobiles & Components - Overnight Price: $0.43
Canaccord Genuity rates ((AMA)) as Buy (1) -
Canaccord Genuity maintains its Buy recommendation for AMA Group with its target price decreased to $1.15 from $1.20 following FY26 pre-AASB16 EBITDAu of $68m and guidance for FY27 pre-AASB16 EBITDAu of $75m to $80m.
The analyst highlights that AMA reported positive statutory NPAT of $7.7m which supported the recommencement of dividends with a final dividend of 0.5cps.
Vehicle collision repair operations experienced margin pressures from elevated petrol prices and public transport concessions, while ACM Parts delivered a significant improvement in earnings.
The broker's estimates indicate that earnings momentum remains positive with a target pre-AASB16 EBITDA margin of 10% expected within three years.
This report was published on August 24, 2026.
Target price is $1.15 Current Price is $0.43 Difference: $0.715
If AMA meets the Canaccord Genuity target it will return approximately 164% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
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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