Australian Broker Call

UBS rates A1N as Sell (5) -

UBS lowers EPS forecasts for ARN Media on the back of reduced market share assumptions, which were exposed in the trading update showing April year-to-date revenues down -2% against industry growth of 1%.

The broker's forecasts are reduced by -64%, -39%, and -5% for 2025–2027, respectively, which also incorporates a more challenging market in Hong Kong.

Target price falls by -14% to 49c. No change to Sell rating.

Target price is $0.49 Current Price is $0.51 Difference: minus $0.02 (current price is over target).
If A1N meets the UBS target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: -0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates BOE as Buy (1) -

In a bullish signal for uranium, suggests Ord Minnett, the Sprott Physical Uranium Trust (SPUT) capital raise was doubled to US$200m on strong investor interest. The move is expected to particularly benefit developers aiming for final investment decisions.

Funds have been earmarked to purchase spot uranium, and the broker notes the spot U3O8 price has surged to US$76/lb from US$70/lb. This level supports the broker’s forecasts of US$85/lb by December 2025 and US$90/lb in 2026.

Recent policy tailwinds, including US nuclear support and Germany’s shift in stance, have further boosted sector sentiment, highlight the analysts.

For Boss Energy, the Buy rating and $6.00 target are retained.

Target price is $6.00 Current Price is $4.47 Difference: $1.53
If BOE meets the Ord Minnett target it will return approximately 34% (excluding dividends, fees and charges).

Current consensus price target is $4.16, suggesting downside of -10.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Bell Potter rates COG as Buy (1) -

Bell Potter has assessed the impact on COG Financial Services from neutral interest rate settings, estimating a 10% lift in broking EBITDA from a -100bps downward move.

The revenue impact alone would deliver $14.5m in 1H26 broking EBITDA at 10.5% margin vs 9.7% in 1H25, the broker estimates. 

The analyst notes the company has a strong balance sheet with $110m in unrestricted cash following divestments, positioning it well for incremental acquisition growth.

Minor changes have occurred to forecasts after modelling novated leasing as a separate segment and a $3.8m likely gain from the sale of investments.

Buy. Target rises to $1.75 from $1.35 as the broker sees potential for an upgrade cycle.

Target price is $1.75 Current Price is $1.47 Difference: $0.285
If COG meets the Bell Potter target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $1.62, suggesting upside of 10.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates COH as Hold (3) -

Cochlear downgraded FY25 net profit guidance to $390-400m vs previous guidance targeting the lower end of the $410-430m range. Slower growth in services and Cochlear Implant uptake in developed markets were cited as the reasons.

The company expects services revenue to grow from FY26 on the launch of the new Kanso 3 sound processor. Additionally, the company will soon launch the Cochlear Nucleus Nexa System in the EU and APAC.

Morgans has a cautious view about new product launches, noting improvements in the Nucleus Nexa System are incremental vs technological improvements in hearing capabilities.

The broker also believes the Kanso 3 sound processor would be seen more as a convenience than a medical necessity from a reimbursement point of view.

FY25-27 net profit forecasts cut by up to -3.9% on lower services revenue and margins. Target price trimmed to $281.36 from $285.55.

Hold maintained.

Target price is $281.36 Current Price is $281.66 Difference: minus $0.3 (current price is over target).
If COH meets the Morgans target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $290.09, suggesting upside of 1.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.2

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates COH as Upgrade to Buy from Neutral (1) -

UBS upgrades Cochlear to Buy from Neutral with a higher target price of $325 (up from $285) due to the release of new products, which are expected to generate better-than-anticipated earnings growth for the company over the medium term.

The analyst points to the next-generation cochlear implant (CI) portfolio as having the potential to lift market share and generate a 10% compound average growth rate in revenue.

Over the next three years, services revenue is also expected to rise by 40% as the installed unit base lifts by 26%, with improvements in the sound processor replacement rate, the broker explains.

Adjusting for management's guidance changes, UBS lowers the EPS forecast by -5% for FY25 on lower service revenue and increases FY27 EPS by 4% due to the above-mentioned factors.

Target price is $325.00 Current Price is $281.66 Difference: $43.34
If COH meets the UBS target it will return approximately 15% (excluding dividends, fees and charges).

Current consensus price target is $290.09, suggesting upside of 1.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.2

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgan Stanley rates CSL as Overweight (1) -

CSL received FDA approval for the immediate launch of Andembry in the US, but this is already in Morgan Stanley's forecasts.

The broker revisited its forecasts following the company's comments on cost control, including lowering fixed costs. The scenario analysis suggests a -1% decline in operating expenses and US$1.0bn of stock buybacks each year would lift the compounded annual growth rate for adjusted EPS over FY25-28 by 220bps to 15.9%.

The broker's current forecast is for 13.7% adjusted EPS growth over FY25-28.

No change to forecasts. Target unchanged at $303. Overweight retained.

Target price is $303.00 Current Price is $239.29 Difference: $63.71
If CSL meets the Morgan Stanley target it will return approximately 27% (excluding dividends, fees and charges).

Current consensus price target is $326.08, suggesting upside of 34.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates DYL as Speculative Buy (1) -

Morgans believes the US$200m raise by asset management firm Sprott Physical Uranium Trust (SPUT) reinforces its strategy of offering direct exposure to uranium and will provide structural support to spot prices.

The broker reckons this presents an upside opportunity for Deep Yellow as it is highly leveraged to the spot uranium price. The analyst estimates a US$10/lb change in the U308 price leads to a 17c/share valuation shift.

The broker reinstated its bull case uranium price assumption of US$100/lb, which, together with a reduction in select risk weightings to Australian resources, pushed the target price to $1.92 from $1.56.

Speculative Buy retained.

Target price is $1.92 Current Price is $1.66 Difference: $0.26
If DYL meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $1.69, suggesting downside of -1.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates GMD as Buy (1) -

UBS notes some ongoing risks to Genesis Minerals' growth aims, but the analyst views the miner as being able to achieve higher production rates of 450kozpa by FY30.

The production outlook has been boosted by the acquisition of an additional 4moz around Laverton, which has brought the resource base to 18.7moz, the broker details, with ongoing progress at Tower Hill and ramp-ups at Leonora and Laverton.

UBS raises its target price to $5.50 from $4.50, retaining its Buy rating.

Target price is $5.50 Current Price is $4.67 Difference: $0.83
If GMD meets the UBS target it will return approximately 18% (excluding dividends, fees and charges).

Current consensus price target is $4.48, suggesting downside of -0.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Bell Potter rates IGL as Buy (1) -

IVE Group upgraded guidance at the investor strategy day, with FY25 net profit lifted by 4-7% to around $52m and closer to Bell Potter's estimate of $51.8m. Margin expansion was cited as a reason, partly offset by a slightly lower revenue forecast for 2H25.

The company's guidance on capex and restructuring one-off costs were lower than before, and the dividend forecast was unchanged.

The broker lifted its FY25 net profit forecast to $52.3m from $51.8m, and also raised EPS forecasts by around 1% for FY25-27. Forecasts for revenue and EBITDA out to FY30 were slightly more conservative than the company's targets.

Buy. Target rises to $3.15 from $3.00, with the broker expecting an accretive acquisition in the next 6-12 months.

Target price is $3.15 Current Price is $2.76 Difference: $0.39
If IGL meets the Bell Potter target it will return approximately 14% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates INA as Buy (1) -

The analysts at Citi hosted Ingenia Communities' CEO and CFO and note an uplift in buyer enquiries following recent interest rate cuts, particularly in Victoria. Queensland continues to perform well, while New South Wales sales remain flat, in line with prior periods.

Price growth is broadly CPI-like across most markets, though the broker sees potential for price increases in Queensland.

Near-term earnings (EBIT) margins are likely to be modestly affected by higher marketing spend associated with project launches, note the analysts.

Citi highlights a stabilised construction market, with delivery timelines holding steady at 21–22 weeks, and notes the group’s ongoing efforts to build a 10-year land pipeline through selective restocking.

The broker retains a Buy rating and a target price of $6.50.

Target price is $6.50 Current Price is $5.53 Difference: $0.97
If INA meets the Citi target it will return approximately 18% (excluding dividends, fees and charges).

Current consensus price target is $6.30, suggesting upside of 14.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates JHX as Neutral (3) -

After reviewing updated F-4 filings and revised financials for the proposed Azek merger, Citi estimates James Hardie’s interest expense alone could exceed Azek’s trailing 12-month profit.

This outcome is expected to result in material earnings dilution for the combined entity. Nonetheless, Citi considers the stock fairly valued, noting pricing and product mix trends remain below target and historical levels.

The broker highlights increased financial and operational leverage from record debt, which will amplify rate sensitivity, benefiting the company if rates fall, but posing risk if inflationary pressures persist.

Separately, a second quarter update by US competitor Lennar was modestly positive for James Hardie, in the analysts' view, given stronger volumes in core regions such as the South and South Central where deliveries rose 18%.

Less positively, the broker notes average selling prices and new order prices continue to decline.

Citi retains a Neutral rating and a target price of $41.50.

Target price is $41.50 Current Price is $38.77 Difference: $2.73
If JHX meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $48.76, suggesting upside of 30.4% (ex-dividends)

The company's fiscal year ends in March.

Forecast for FY26:

Forecast for FY27:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.6

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates LOT as Speculative Buy (1) -

In a bullish signal for uranium, suggests Ord Minnett, the Sprott Physical Uranium Trust (SPUT) capital raise was doubled to US$200m on strong investor interest. The move is expected to particularly benefit developers aiming for final investment decisions.

Funds have been earmarked to purchase spot uranium, and the broker notes the spot U3O8 price has surged to US$76/lb from US$70/lb. This level supports the broker’s forecasts of US$85/lb by December 2025 and US$90/lb in 2026.

Recent policy tailwinds, including US nuclear support and Germany’s shift in stance, have further boosted sector sentiment, highlight the analysts.

Separately, for Lotus Resources, Ord Minnett believes the company remains on track to begin uranium production at Kayelekera in the September quarter of 2025 using existing stockpiles.

Mining has been deferred to the December quarter as the company transitions from contractors to an owner-operator model, worsening the capex burden by -US$8m but reducing unit mining costs, explain the analysts.

Ord Minnett raises its target price to 37c from 35c and maintains a Speculative Buy rating.

Target price is $0.37 Current Price is $0.20 Difference: $0.175
If LOT meets the Ord Minnett target it will return approximately 90% (excluding dividends, fees and charges).

Current consensus price target is $0.33, suggesting upside of 57.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates LYC as Buy (1) -

UBS maintains Lynas Rare Earths as its top pick in the rare earths sector, with an unchanged Buy rating and $10.40 target.

The broker continues to argue the company holds a first-mover advantage in supplying an expanding ex-China magnet supply chain.

Progress in producing separated dysprosium and terbium, priced independently of Asian benchmarks, is viewed as a further value driver.

Over the longer term, the analysts suggest humanoid robots could account for approximately 35% of total rare earth demand by 2050, providing an incremental boost to dysprosium and terbium consumption.

This emerging thematic adds to the growing list of structural tailwinds supporting the sector, on which the broker remains positive.

Target price is $10.40 Current Price is $9.54 Difference: $0.86
If LYC meets the UBS target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $8.14, suggesting downside of -14.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.1

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates MEI as Speculative Buy (1) -

Meteoric Resources has announced a breakthrough in rare earths elements (REE) processing via Flash Joule Heating (FJH), tested in collaboration with MTM Critical Metals ((MTM)).

The FJH process upgraded the magnet rare earth oxide (REO) content of Caldeira project's mixed rare earth carbonate (MREC) to 72% from 30% of total rare earth oxides (TREO), highlights the broker.

This was achieved by excluding over -80% of low-value lanthanum and cerium, which enhances the appeal of the company's product for high-heavy rare earth elements (HREE) refineries, according to Ord Minnett.

While the result is conceptually promising, the broker cautions it remains early-stage with commercial viability still to be proven.

Ord Minnett retains its 20c target price and Speculative Buy rating.

Target price is $0.20 Current Price is $0.13 Difference: $0.07
If MEI meets the Ord Minnett target it will return approximately 54% (excluding dividends, fees and charges).

Current consensus price target is $0.24, suggesting upside of 102.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgan Stanley rates MIN as Overweight (1) -

Morgan Stanley notes announcement on the Hong Kong Stock Exchange about Mineral Resources' Mt Marion JV partner Ganfeng Lithium providing $150m loan collateral-free. 

Mineral Resources will match the amount, with the broker highlighting an AFR article about it being sourced from working capital and not increasing the debt balance.

The broker has modelled -$100m working capital outflow in 2H25 and estimates FY25 net debt at $5.4bn.

It is estimated Mt Marion contributes around $85m EBITDA to the company's mining services business, partly offsetting cash loss to the JV at a group level.

Overweight. Target unchanged at $35.

Target price is $35.00 Current Price is $23.68 Difference: $11.32
If MIN meets the Morgan Stanley target it will return approximately 48% (excluding dividends, fees and charges).

Current consensus price target is $28.89, suggesting upside of 28.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates NEC as No Rating (-1) -

UBS is restricted on coverage of Nine Entertainment.

Current Price is $1.63. Target price not assessed.

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Macquarie rates NEU as Initiation of coverage with Outperform (1) -

Macquarie has initiated coverage of Neuren Pharmaceuticals with an Outperform rating and target price of $18.60.

The broker believes the key positive is the neurogenerative disease the company targets, which commands premium pricing in the US.

Additionally, most of its pipeline products have orphan drug designation, meaning no generic drug can be sold for 7.5 years in the US and 12 years in the EMA.

In the near term, the main upside is from the opportunity for rest-of-world expansion for Daybue, which would trigger additional royalty and milestone payments from its drug distributor Acadia.

Commentary suggests one promising pipeline product is NNZ-2591, where the company is independently completing phase 3 and retains all commercialisation benefits if approved.

Valuation is $12.20 based on Daybue in North America, with the balance risk-weighted on rest-of-world Daybue expansion and pipeline products.

Target price is $18.60 Current Price is $12.85 Difference: $5.75
If NEU meets the Macquarie target it will return approximately 45% (excluding dividends, fees and charges).

Current consensus price target is $23.13, suggesting upside of 78.2% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates NWS as Buy (1) -

UBS reiterates its Buy rating on News Corp with a $70 target price, citing an ongoing gap between its own valuation and that of peers relative to the share price.

News Corp's 3Q25 results were 8% above expectation, and most importantly, the broker highlights the strong performance from Dow Jones, as it represents a large proportion of the company's valuation upside.

Dow Jones generated earnings (EBITDA) growth of 12%, with margin expansion of 130bps, driven by a shift towards higher-margin businesses such as risk compliance and energy.

Target price is $70.00 Current Price is $48.85 Difference: $21.15
If NWS meets the UBS target it will return approximately 43% (excluding dividends, fees and charges).

Current consensus price target is $65.50, suggesting upside of 34.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

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

UBS rates OML as Upgrade to Buy from Neutral (1) -

UBS upgrades oOh!media to Buy from Neutral, with a new target price set at $2, up from $1.65.

The analyst explains EPS is anticipated to grow at a compound average rate of 15% between 2024–2027, with the market currently ascribing a low valuation at around 13x, compared to the ASX Small Ords at 22x with average EPS growth of 8%.

Having lost around -60bps of market share in 2024, the broker expects some stabilisation year-to-date, as revenue growth for the first half is tracking seemingly in line with the market.

UBS stresses the company should benefit from tailwinds arising from higher Out-of-Home sector advertising spend, with growth of 15% in the five months to May compared to a year earlier, which in turn represents around 9% growth in revenue.

There are no changes to earnings forecasts.\

Target price is $2.00 Current Price is $1.68 Difference: $0.32
If OML meets the UBS target it will return approximately 19% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates PDN as Buy (1) -

In a bullish signal for uranium, suggests Ord Minnett, the Sprott Physical Uranium Trust (SPUT) capital raise was doubled to US$200m on strong investor interest. The move is expected to particularly benefit developers aiming for final investment decisions.

Funds have been earmarked to purchase spot uranium, and the broker notes the spot U3O8 price has surged to US$76/lb from US$70/lb. This level supports the broker’s forecasts of US$85/lb by December 2025 and US$90/lb in 2026.

Recent policy tailwinds, including US nuclear support and Germany’s shift in stance, have further boosted sector sentiment, highlight the analysts.

For Paladin Energy, the Buy rating and $9.50 target are retained.

Target price is $9.50 Current Price is $7.60 Difference: $1.9
If PDN meets the Ord Minnett target it will return approximately 25% (excluding dividends, fees and charges).

Current consensus price target is $8.49, suggesting upside of 12.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates RDX as Buy (1) -

Redox recently announced increasing macro uncertainty for the business, which is viewed by UBS as having the potential to impact volume growth.

UBS observes 1Q2025 GDP growth came in below expectations, with moderating conditions in mining, construction and manufacturing.

The broker explains domestic pricing seems to be steady, but volume growth for Redox is now anticipated to be lower at 9% in 2H25, down from around 13% previously.

UBS downgrades EPS forecasts by -8% and -14% for FY25/FY26, respectively. Target price slips to $3.25 from $3.80.

No change to Buy rating, as the analyst believes the share price is discounting downside risks to consensus earnings expectations for FY25/FY26.

Target price is $3.25 Current Price is $2.15 Difference: $1.1
If RDX meets the UBS target it will return approximately 51% (excluding dividends, fees and charges).

Current consensus price target is $3.28, suggesting upside of 56.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates RGN as Buy (1) -

Region Group's property portfolio valuation increased by $54.4m to $4,374.1m as at June 30, driven by an -11bp cap rate compression to 5.97%, explains Citi.

Pro forma gearing post-transactional activity is 32.8%, which the broker considers comfortably within the target range of 30–40%.

Net tangible assets (NTA) rose by 3c to $2.45 per share, placing the current share price at an around -2% discount to NTA.

The 7c distribution for the six months to June 2025 was in line with both Citi's and consensus expectations.

The broker retains a Buy rating and $2.40 target.

Target price is $2.40 Current Price is $2.41 Difference: minus $0.01 (current price is over target).
If RGN meets the Citi target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $2.33, suggesting downside of -1.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates STO as Buy (1) -

Santos has received a non-binding all-cash offer at an implied price of $8.89 (US$5.76 per share) from a consortium led by Abu Dhabi National Oil Company subsidiary, XRG, and Carlyle Group.

The broker notes the indicative bid sits at a 13% premium to its Santos' valuation and around a -7% discount to the fully risked valuation of $9.56 per share.

UBS notes the board intends to recommend the proposal to shareholders, which is subject to due diligence and FIRB approval in Australia, as well as regulatory approvals in PNG and the US.

Santos is considered a good fit with XRG's five-year plan to develop a top-five integrated global gas and LNG business with capacity at 20–25Mtpa by 2035.

Target price remains at $7.90. Buy. At this stage, UBS anticipates completion would take around six to nine months.

Target price is $7.90 Current Price is $7.76 Difference: $0.14
If STO meets the UBS target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $7.89, suggesting upside of 1.3% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.6

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates SWM as Sell (5) -

UBS lowers its target price on Seven West Media to 14c from 16c while retaining a Sell rating.

The broker highlights the May year-to-date Standard Media Index on Metro TV ad spend is down -2% on a year earlier, which is a considerably better result than in the last few years.

Ad spend in May did fall -12% on the previous year once election spending had been completed, while Out of Home continues to grow market share.

With some trepidation around the macro advertising market, the analyst is expecting a more "cautious" recovery in spend and thereby lowers Seven West Media's revenue estimate by -2% for FY26, offset by larger cost outs.

Target price is $0.14 Current Price is $0.14 Difference: $0
If SWM meets the UBS target it will return approximately 0% (excluding dividends, fees and charges).

Current consensus price target is $0.18, suggesting upside of 26.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates SXL as Neutral (3) -

UBS lifts EPS estimates for Southern Cross Media on the back of higher market share assumptions, by 11% for FY26 and 29% for FY27.

The company's latest trading update revealed April year-to-date revenue growth of 9%, indicating market share gains and a "solid" result on improved cost management.

Target price rises by 8% to 69c, with no change in Neutral rating.

Target price is $0.69 Current Price is $0.64 Difference: $0.05
If SXL meets the UBS target it will return approximately 8% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources