Daily Market Reports | 1:26 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)
A1M ABB ABG ACF (2) ADH AEM ANG ARB AUB BTR (2) COL CWP (2) DTL DUR GEM GNP HPG HZR IDX KGN MAD MND MTO OBM (2) OMA PFP (2) PLS PRN RFF RPL RWL SCG SDR (3) SK1 SYL (2) VNT VSL WDS YRL
A1M AIC MINES LIMITED
Gold & Silver - Overnight Price: $0.89
Moelis rates ((A1M)) as Buy (1) -
Moelis maintains its Buy rating for AIC Mines with its target price maintained at $0.77 following an FY26 financial result featuring revenue of $245.6m and adjusted net profit after tax of $42.7m, printing broadly in line with the broker's estimates.
Operational performance reflected strong progress across growth initiatives at the Eloise copper mine, including Jericho mine development and commissioning of the expanded 1.1mtpa plant.
The broker's estimates indicate that near-term cash flows continue reflecting an active investment phase, though peak capital outflows are now behind the company.
The analyst highlights that operational improvements across key financial metrics underscore a successful year, despite a recent share price rally narrowing the valuation buffer.
This report was published on August 26, 2026.
Target price is $0.77 Current Price is $0.89 Difference: minus $0.115 (current price is over target).
If A1M meets the Moelis target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ABB AUSSIE BROADBAND LIMITED
Telecommunication - Overnight Price: $4.60
Canaccord Genuity rates ((ABB)) as Buy (1) -
Canaccord Genuity maintains its Buy rating for Aussie Broadband with its target price decreased to $5.88 from $6.87 following FY26 results featuring revenue of $1,295m and EBITDA of $165.3m alongside a $115m buyback program.
Operational performance highlighted broadband connections growing to 1,111k alongside ongoing migration and integration work for the AGL Telco and More/Tangerine customer books.
FY27 EBITDA guidance is set at $205m to $215m with lower capital expenditure driving improved cash conversion.
The analyst highlights that the risk-reward profile remains attractive given trading on approximately 7x forward enterprise value to EBITDA against double-digit percentage EBITDA growth.
This report was published on August 27, 2026.
Target price is $5.88 Current Price is $4.60 Difference: $1.28
If ABB meets the Canaccord Genuity target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $5.69, suggesting upside of 28.5%(ex-dividends)
Forecast for FY27:
Current consensus EPS estimate is 27.1, implying annual growth of 125.3%.
Current consensus DPS estimate is 7.5, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 16.3.
Forecast for FY28:
Current consensus EPS estimate is 33.2, implying annual growth of 22.5%.
Current consensus DPS estimate is 9.1, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 13.3.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ABG ABACUS GROUP
REITs - Overnight Price: $0.91
Shaw and Partners rates ((ABG)) as Upgrade to Buy from Hold (1) -
Shaw and Partners upgrades to Buy for Abacus Group with its target price maintained at $1.05 following an FY26 financial result that printed broadly in line with expectations.
Operational performance remains solid across the office and retail portfolios, though FY27 distribution guidance was reset to 6.7cps following the cessation of management and equity income from Storage King Group ((SKG)).
The broker's estimates indicate that significant asset sales during FY27, including the divestment of the Abacus Group stake in Storage King Group and the Camellia property, will reduce gearing to approximately 25% and provide substantial acquisition capacity.
The analyst highlights the stock trades at a compelling -43% discount to net tangible assets, offering an attractive dividend yield and significant value within the real estate sector.
This report was published on August 26, 2026.
Target price is $1.05 Current Price is $0.91 Difference: $0.145
If ABG meets the Shaw and Partners target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $1.25, suggesting upside of 38.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 6.70 cents and EPS of 7.80 cents.
At the last closing share price the estimated dividend yield is 7.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is N/A, implying annual growth of N/A.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY28:
Shaw and Partners forecasts a full year FY28 dividend of 7.10 cents and EPS of 8.70 cents.
At the last closing share price the estimated dividend yield is 7.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is N/A, implying annual growth of N/A.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 7.1%.
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
ACF ACROW LIMITED
Building Products & Services - Overnight Price: $0.97
Moelis rates ((ACF)) as Buy (1) -
Moelis maintains its Buy rating for Acrow with its target price maintained at $1.16 following an FY26 financial result featuring revenue up 27% year-on-year and flat underlying EBITDA of $80.3m.
Operational performance was driven by rapid expansion in the Industrial Access segment, which grew 53% year-on-year to $201m, offset by temporary softness in the formwork business.
FY27-FY29 EPS forecasts are revised to 10.6c, 11.3c and 12.1c respectively, following upgraded FY27 revenue guidance of $410m to $430m and EBITDA guidance of $105m to $115m.
The analyst highlights that formwork recovery signs, improving commercial conditions in Queensland and an increased pipeline of $290m support an attractive valuation trading at an FY27 P/E of 8.9x.
This report was published on August 26, 2026.
Target price is $1.16 Current Price is $0.97 Difference: $0.19
If ACF meets the Moelis target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 3.00 cents and EPS of 10.60 cents.
At the last closing share price the estimated dividend yield is 3.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.15.
Forecast for FY28:
Moelis forecasts a full year FY28 dividend of 3.00 cents and EPS of 11.30 cents.
At the last closing share price the estimated dividend yield is 3.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.58.
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 ((ACF)) as Buy (1) -
Shaw and Partners maintains its Buy rating for Acrow with its target price increased to $1.35 from $1.30 following an FY26 financial result featuring record revenue of $336.0m, up 26.7% year-on-year, driven primarily by the continued expansion of the Industrial Access division.
Operational performance was supported by record second-half formwork revenue and a 33% increase in the secured hire pipeline to $290m, though underlying net profit after tax declined 20.4% to $27.6m due to a temporary slowdown in Queensland construction activity during the first half and higher depreciation and interest costs.
Underlying EBITDA forecasts are increased by 2.9%-3.0% across FY27-FY29, while management's upwards-revised FY27 EBITDA guidance of $105m to $115m points to a robust earnings recovery, commentary highlights.
The analyst considers the company as well positioned to capture strong growth through recent acquisitions, recurring industrial access expansion, and major infrastructure and project opportunities.
This report was published on August 26, 2026.
Target price is $1.35 Current Price is $0.97 Difference: $0.38
If ACF meets the Shaw and Partners target it will return approximately 39% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY27:
Shaw and Partners forecasts a full year FY27 dividend of 3.70 cents and EPS of 10.80 cents.
At the last closing share price the estimated dividend yield is 3.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.98.
Forecast for FY28:
Shaw and Partners forecasts a full year FY28 dividend of 4.10 cents and EPS of 13.00 cents.
At the last closing share price the estimated dividend yield is 4.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.46.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three source
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