Australian Broker Call

Citi rates AIA as Buy (1) -

Citi believes the reported potential bid for 100% of North Queensland Airports by Japanese trading house Sojitz Corporation, which owns the Cairns and Mackay Airports in Queensland, underpins a positive read-through for the valuation of Auckland International Airport.

The company flagged a "solid uptick" in traffic for both international and domestic passengers, year-on-year in November.

Citi lifts earnings estimates to reflect the passenger growth and changes to interest rate assumptions by 2%-3%.

The broker retains a Buy rating and raises the target price to NZ$9.80. Auckland International Airport is the broker's preferred infrastructure stock.

Current Price is $7.30. Target price not assessed.

Current consensus price target is N/A

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

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

Market Sentiment: 0.7

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

Shaw and Partners rates ANG as Buy (1) -

Austin Engineering has received an order for 17 trays valued at $2.7m from an Indian tier-one iron ore producer.

Shaw and Partners notes this is the company’s first major Indian contract, with the potential to open up a significant new market.

A full-time representative is now based in India, the world’s fourth-largest iron ore market.

Shaw and Partners leaves earnings forecasts unchanged.

Buy rating retained, high risk, with an unchanged target price of 70c.

Target price is $0.70 Current Price is $0.51 Difference: $0.19
If ANG meets the Shaw and Partners target it will return approximately 37% (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

Shaw and Partners rates AZY as Buy (1) -

Shaw and Partners observes the Phase 2 drilling program at Minyari Dome has identified new near-surface high-grade gold zones, notably at Minyari South and Fiama, with intersections such as 17m at 6.8g/t gold and 0.5% copper.

The findings suggest significant potential to enhance the standalone scoping study and leverage nearby underutilised processing facilities at Telfer, reducing potential capital expenditure.

Antipa Minerals' cash position, boosted by a $17m sale to Rio Tinto, supports ongoing exploration. 

Buy, High Risk rating and 4c target price remain unchanged.

Target price is $0.04 Current Price is $0.03 Difference: $0.011
If AZY meets the Shaw and Partners target it will return approximately 38% (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

Shaw and Partners rates BML as Buy (1) -

Shaw and Partners highlights the preferred commodity for 2025 is silver due to its correlation with a strong gold price and ongoing robust demand from solar panels.

The broker assesses the -40% fall in the share price of Investigator Resources ((IVR)), due to a delay in the company's project, reinforces the scarcity of major silver projects on the ASX.

Boab Metals has one of the most advanced silver projects at Sorby Hills and recently announced binding off-take agreements with Trafigura for lead/silver concentrate.

The Buy, High Risk rating, and 40c target are maintained.

Target price is $0.40 Current Price is $0.15 Difference: $0.25
If BML meets the Shaw and Partners target it will return approximately 167% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 1.0

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

Macquarie rates BOE as Outperform (1) -

Ahead of Boss Energy's cost update in January, Macquarie increases life of mine forecast costs for Honeymoon to US$27/lb from US$19/lb due to higher inflation across labour, power, and reagents.

Reagents have the largest impact, with approximately 50% inflation factored in.

The broker highlights Honeymoon is running over the capex budget, with an estimated spend of -US$46m in FY25 and -US$32m in FY26, excluding Alta Mesa.

Macquarie now forecasts a net loss in FY25 and lowers the net profit forecast by -16% in FY26. The target price decreases by -2% to $4.50. No change to the Outperform rating.

Target price is $4.50 Current Price is $2.40 Difference: $2.1
If BOE meets the Macquarie target it will return approximately 88% (excluding dividends, fees and charges).

Current consensus price target is $3.83, suggesting upside of 62.8% (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

Morgan Stanley rates CAT as No Rating (-1) -

Morgan Stanley initiates coverage of Catapult International with an Overweight rating and a $4.45 target price under fresh investment ideas for 2025.

The broker believes consensus is underestimating the rerating potential of the company, now that it has become cash flow positive. Catapult has a large global total addressable market and a competitive product, the analyst emphasises, as a global sports data and analytics company.

Catapult's products are used by over 3,400 sports teams across more than 40 sports in 100 countries globally.

Around 55% of revenue comes from performance and health via wearables technology, with tactics and coaching contributing around 32% of revenue in FY24, including video solutions, and 13% from media and other sources.

On the brokert's assessment, the stock is attractively priced if it can generate 20% revenue growth.

Target price is $4.45 Current Price is $3.47 Difference: $0.98
If CAT meets the Morgan Stanley target it will return approximately 28% (excluding dividends, fees and charges).

The company's fiscal year ends in March.

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

Ord Minnett rates CBO as Buy (1) -

Cobram Estate Olives' trading update was viewed positively by Ord Minnett. The company has secured around 3m litres of extra virgin olive oil in California in 2024, meeting previous guidance.

The company has also signed a 30-year partnership with a third-party grower for 1,000 hectares in Australia, supporting long-term supply, the analyst notes. Additionally, 1,065 hectares of plantable land near the existing 916 hectares in Northern California are being acquired.

The target price rises to $2.22 from $1.98, and the Buy rating is maintained.

Target price is $2.22 Current Price is $2.00 Difference: $0.22
If CBO meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges).

Current consensus price target is $2.11, suggesting upside of 4.8% (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

Shaw and Partners rates CBO as Buy (1) -

Shaw and Partners observes that Cobram Estate Olives' trading update shows sales of packaged oil in Australia and the US are performing above expectations and ahead of the CEO's budget.

The broker expects revenue growth of 25% for FY25 in packaged goods and 16% growth in US revenue compared to the previous year.

A 20% price increase is also assisting the company in Australia for FY24, along with a 15% price increase implemented in September in the US market.

Management announced the purchase of an additional 1,534 hectares of land in the US and signed a 30-year agreement with a third-party grower to plant 1,000 hectares.

The target price is raised to $2.25 from $2.10. Buy rating, high risk, maintained.

Target price is $2.25 Current Price is $2.00 Difference: $0.25
If CBO meets the Shaw and Partners target it will return approximately 13% (excluding dividends, fees and charges).

Current consensus price target is $2.11, suggesting upside of 4.8% (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

Morgan Stanley rates DTL as Overweight (1) -

Morgan Stanley observes Data#3's announcement on Microsoft incentives, including lower incentives for enterprise agreements from January 1, an increased focus on small, medium, and corporate customers, and more incentives for Copilot, Security, Azure, and Cloud Solutions Provider.

The broker highlights it is unclear what the net impact will be.

Target price: $10. Overweight rating. Industry View: In Line.

Target price is $10.00 Current Price is $7.42 Difference: $2.58
If DTL meets the Morgan Stanley target it will return approximately 35% (excluding dividends, fees and charges).

Current consensus price target is $8.65, suggesting upside of 29.3% (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 DTL as Neutral (3) -

Following Microsoft's recently announced changes to its reseller incentives, UBS has reduced its FY26 gross profit estimate for Data#3 by -2%, which results in its EPS forecast for FY26 declining by -9%.

The broker also suggests the multiple on which Data#3 shares are trading might come under pressure as the market realises the risk associated with one large vendor that has such significant bargaining power.

UBS estimates some 60% of total sales for Data#3 are linked to Microsoft products. Target drops to $7.30 from $8. Neutral.

Target price is $7.30 Current Price is $7.42 Difference: minus $0.12 (current price is over target).
If DTL meets the UBS target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $8.65, suggesting upside of 29.3% (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

Morgan Stanley rates EVT as Initiation of coverage with Overweight (1) -

Morgan Stanley initiates coverage on EVT Ltd with an Overweight rating and a $13.30 target price.

The company is the largest movie exhibitor in A&NZ, with around a 30% market share and 140 cinema complexes. EVT also owns a portfolio of hotels across A&NZ, with a 60:40 revenue split between the two divisions.

The broker believes improved box office supply will help cinema earnings return to pre-covid levels by 2026. Overweight rating. Target price: $13.30. 

Target price is $13.30 Current Price is $11.53 Difference: $1.77
If EVT meets the Morgan Stanley target it will return approximately 15% (excluding dividends, fees and charges).

Current consensus price target is $13.24, suggesting upside of 14.7% (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

Ord Minnett rates EVT as Buy (1) -

While cycling Tay Tay in 2H25, Ord Minnett believes EVT Ltd should benefit from tailwinds in FY26, including an improving film lineup, a contribution from Thredbo, and lower interest rates.

At the AGM, management also highlighted an improvement in hotels is essential for future growth.

The broker considers the business to be professionally managed with a focus on medium- to long-term growth.

Ord Minnett lowers EPS forecasts by -13% for FY25 and -10% for FY26 as EVT Ltd cycles Tay Tay comps in 2H25.

A Buy rating is maintained, with the target price reduced to $13.70 from $14.05

Target price is $13.70 Current Price is $11.53 Difference: $2.17
If EVT meets the Ord Minnett target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $13.24, suggesting upside of 14.7% (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

Macquarie rates IDX as Outperform (1) -

Macquarie forecasts significant EPS accretion for Integral Diagnostics from the merger with Capitol Health ((CAJ)) and anticipates around $10m in annual pre-tax cost synergies by the end of the second year post-completion.

Approximately $8m in cost synergies are expected in 2025, including $2m in 2H25 from reduced employee costs.

The analyst notes ongoing tailwinds for the diagnostic imaging industry, with Medicare benefits growth of around 9% in FY25 year-to-date, compared to forecasts of approximately 8%.

Macquarie raises EPS forecasts by 2% in FY25 and 11% in FY26.

Outperform rating and $3.50 target retained.

Target price is $3.50 Current Price is $2.98 Difference: $0.52
If IDX meets the Macquarie target it will return approximately 17% (excluding dividends, fees and charges).

Current consensus price target is $3.59, suggesting upside of 22.1% (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

Ord Minnett rates IFL as Hold (3) -

Ord Minnett observes Bain Capital has made a preliminary, non-binding, and indicative proposal to acquire Insignia Financial at $4 per share, a 17.6% premium to the previous close.

The analyst believes the proposal makes sense and other suitors are possible but not probable, while the current offer of $4 is deemed insufficient.

The Hold rating is maintained, and the target price rises to $3.70 from $3.25.

Target price is $3.70 Current Price is $3.58 Difference: $0.12
If IFL meets the Ord Minnett target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $3.16, suggesting downside of -12.3% (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

Morgan Stanley rates IFT as Initiation of coverage with Overweight (1) -

Morgan Stanley initiates coverage of Infratil with an Overweight rating and a NZ$15 target price.

Infratil is a listed investment company specialising in data centres and digital infrastructure in A&NZ. It targets total shareholder returns of 11%-15% per annum from capital appreciation and dividends. The assets are managed by a specialist infrastructure manager, Morrison.

The broker is positive on the 48%-owned data centre business, CDC, with an estimated value of NZ$6.7bn, above the last stated value of NZ$5.3bn.

Morgan Stanley highlights the difference accounts for the higher target price versus consensus at NZ$13. The value of CDC and its land bank is believed to be undervalued.

Current Price is $10.98. Target price not assessed.

Current consensus price target is N/A

The company's fiscal year ends in March.

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 IMD as Sell (5) -

Analysts at Citi have been sceptical for a while now whether the rally in Imdex shares can be justified, and today's update is no exception.

Having witnessed another month during which junior resources companies raised in excess of US$1bn in fresh capital, the analysts remain unconvinced, instead arguing "we have been here before" in reference to Q4 of 2023.

Specific mention goes to gold-related raisings that have fallen sharply in November sequentially. A sceptical Citi retains Sell.

Target price is $1.95 Current Price is $2.33 Difference: minus $0.38 (current price is over target).
If IMD meets the Citi target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $2.28, suggesting downside of -3.0% (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

Morgan Stanley rates PME as Initiation of coverage with Overweight (1) -

Morgan Stanley initiates coverage of Pro Medicus with an Overweight rating and a $300 target price.

The analyst compares the company to WiseTech Global ((WTC)) through the software framework, concluding both companies' solutions are highly scalable and capable of growing customers' volumes at four to seven times the system’s capacity. Both also have a low churn rate below 7%.

Pro Medicus' Visage 7 software underpins significant value for its customers, with industry feedback suggesting Visage is 60%-70% faster than legacy PACS solutions. Recurring revenue streams and guaranteed floor payments (around 80% of volumes) typically have five- to eight-year terms.

Morgan Stanley believes Pro Medicus and WiseTech are very similar, with low global penetration rates, strong scalability well above the Rule of 40 compared to peers, and planned R&D spending of around 30% of revenue for WiseTech and 7% for Pro Medicus between FY20-FY28.

Pro Medicus is rated Overweight. Target: $300. Industry View: Attractive.

Target price is $300.00 Current Price is $250.68 Difference: $49.32
If PME meets the Morgan Stanley target it will return approximately 20% (excluding dividends, fees and charges).

Current consensus price target is $200.92, suggesting downside of -22.0% (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 PWR as Equal-weight (3) -

Peter Warren Automotive provided weak 1H25 profit before tax guidance of $6m-$8m, with FY25 expectations at $12m-$16m, returning to pre-covid levels.

Morgan Stanley questions what the mid-cycle or underlying earnings can realistically be for the company, given ongoing low earnings visibility.

The analyst lowers EPS forecasts by -69% for FY25 and -51.3% for FY26, with a lower FY25 gross margin of 16.1% expected, a decline of -20bps from 2H24, and a weaker top line resulting in operating profit de-leveraging.

The target price is lowered to $1.50 from $1.80, with an Equal-weight rating and an Industry View of In-Line.

Target price is $1.50 Current Price is $1.53 Difference: minus $0.03 (current price is over target).
If PWR meets the Morgan Stanley target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $1.70, suggesting upside of 10.1% (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

Ord Minnett rates RIO as Buy (1) -

Rio Tinto has announced a -US$2.5bn investment to build the first large-scale lithium operation at Rincon, with initial production anticipated in 2028 and a three-year ramp-up to 60,000tpa from the current 3,000tpa.

Ord Minnett notes there are no detailed data on the project's viability but expects the company's track record to support a positive cost outcome.

The Rincon development is not included in the broker's earnings forecasts. Target price: $131. Buy rating retained.

Target price is $131.00 Current Price is $118.64 Difference: $12.36
If RIO meets the Ord Minnett target it will return approximately 10% (excluding dividends, fees and charges).

Current consensus price target is $129.00, suggesting upside of 8.5% (ex-dividends)

Forecast for FY24:

Forecast for FY25:

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

Market Sentiment: 0.5

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

Macquarie rates RMS as Outperform (1) -

Macquarie observes the net present value of Rebecca-Roe is lower than expected for Ramelius Resources, with production slightly better than anticipated, pre-production cash outflow meeting expectations, and all-in-sustaining costs higher.

First production was nine months later than anticipated. Macquarie highlights Rebecca-Roe is key to maintaining current production over the longer term.

Due to changes in assumptions for Rebecca-Roe, the analyst lowers EPS forecasts for FY27 and FY28 by -60%.

The target price decreases by -4% to $2.60. No change to the Outperform rating.

Target price is $2.60 Current Price is $2.22 Difference: $0.38
If RMS meets the Macquarie target it will return approximately 17% (excluding dividends, fees and charges).

Current consensus price target is $2.68, suggesting upside of 20.0% (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

Ord Minnett rates S32 as Buy (1) -

Ord Minnett highlights positive news from the Boddington bauxite mine for South32, with the state government easing some restrictions related to greenhouse gas emissions.

The broker explains that moving to a federal government assessment of the project's emissions could result in a more favourable outcome for the company.

Federal approval for the expansion is expected in early 2025.

The Buy rating is unchanged, and the target price remains $4.25.

Target price is $4.25 Current Price is $3.37 Difference: $0.88
If S32 meets the Ord Minnett target it will return approximately 26% (excluding dividends, fees and charges).

Current consensus price target is $4.11, suggesting upside of 20.5% (ex-dividends)

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

Morgans rates SIG as Upgrade to Add from Hold (1) -

Having cleared regulatory and other hurdles, Sigma Healthcare and Chemist Warehouse will merge into one entity on the 15th February. Morgans has updated its modeling and suggests investors should get on board.

Updating the financial forecasts has pushed up the broker's valuation to $2.29 from $2.21, but this stock is also likely to be added to the ASX100 and global indices, and this means a wave of passive buying awaits.

Morgans has in response applied a 30% premium to its valuation which pulls the price target to $2.98. Upgrade to Add from Hold.

Target price is $2.98 Current Price is $2.67 Difference: $0.31
If SIG meets the Morgans target it will return approximately 12% (excluding dividends, fees and charges).

Current consensus price target is $2.16, suggesting downside of -20.7% (ex-dividends)

The company's fiscal year ends in January.

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

Morgan Stanley rates SPK as Downgrade to Equal-weight from Overweight (3) -

Morgan Stanley downgrades Spark New Zealand to Equal-weight from Overweight. The target price falls to NZ$3.20 from NZ$5.

The analyst highlights the economic sensitivity of telcos to activity levels, as seen in Spark's recent FY24 results and the downgrade in FY25 earnings guidance to between 5%-9%.

Morgan Stanley believes dividend growth will be reduced due to earnings pressure, the economic cycle, and enterprise competition.

Planned investment in data centres in NZ is also expected to drain cash flow.

Current Price is $2.65. Target price not assessed.

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

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

Market Sentiment: 0.5

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

Bell Potter rates SXE as Buy (1) -

Southern Cross Electrical Engineering has reported two contract wins across multiple sectors worth over $225m in the last week, including in the data centre sector, Bell Potter highlights, along with additional healthcare projects in the Illawarra area.

Management expects FY25 earnings of at least $53m, with the broker forecasting just over 21% growth in earnings to $54.2m.

As contracts are completed over FY25, additional contract replenishment will be needed to support earnings run rates into FY26.

No changes to Bell Potter's earnings forecasts.

Buy rating and $2.25 target retained.

Target price is $2.25 Current Price is $1.43 Difference: $0.82
If SXE meets the Bell Potter target it will return approximately 57% (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

Shaw and Partners rates SXE as Buy (1) -

Southern Cross Electrical Engineering announced another $100m-plus contract across data centres and hospitals, including its largest-ever hospital project worth $70m.

Shaw and Partners highlights this is in addition to $125m worth of contracts secured last week across data centres, water, manufacturing, and commercial sectors.

As of August, the company's order book stood at $720m, and the diversity of contract wins reinforces the quality of its service offering, the broker states.

Management made no changes to earnings guidance.

The Buy, High Risk rating and $2.10 target price are maintained, with no changes to the broker's earnings forecasts.

Target price is $2.10 Current Price is $1.43 Difference: $0.67
If SXE meets the Shaw and Partners target it will return approximately 47% (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

Morgan Stanley rates TYR as Downgrade to Underweight from Equal-weight (5) -

Morgan Stanley downgrades Tyro Payments to Underweight from Equal-weight, with the target price falling to 80c from $1.25.

The broker acknowledges the strong franchise among the company's SME base but believes a return to sustainable 15%-20% revenue growth per annum will be challenging.

Global competition is also expected to reduce total transaction value and limit market share gains, with upside to earnings margins remaining constrained.

Target price is $0.80 Current Price is $0.87 Difference: minus $0.065 (current price is over target).
If TYR meets the Morgan Stanley target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $1.44, suggesting upside of 75.4% (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

Bell Potter rates VFY as Initiation of coverage with Speculative Buy (1) -

Bell Potter initiates coverage of Vitrafy Life Sciences with a Speculative Buy rating and a $2.36 target price.

The company has exposure to aquaculture, bovine reproduction, blood platelets, and human cell and gene therapy as it aims to become a global leader in cryopreservation by increasing cell survival of biological materials, the analyst notes.

Vitrafy has demonstrated it can improve cell survival and functionality compared to industry standards, the report highlights.

Speculative Buy. Target $2.36.

Target price is $2.36 Current Price is $1.75 Difference: $0.61
If VFY meets the Bell Potter target it will return approximately 35% (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 WTC as Buy (1) -

Citi stresses there is a low probability of DSV moving away from Cargowise to address investor concerns around DSV citing cost pressures from price rises, including Cargowise, as a potential catalyst to switch to DB Schenker's Tango software.

On a cost-per-full-time-equivalent basis, DB Schenker's cost is 44% higher. Consolidation into DSV's transportation management system with Cargowise is flagged as the main driver for cost synergies and improved productivity.

The broker also views the global number of Cargowise professionals as a positive for WiseTech Global, as it increases switching costs.

Buy rating maintained, with a target price of $124.50.

Target price is $124.50 Current Price is $119.25 Difference: $5.25
If WTC meets the Citi target it will return approximately 4% (excluding dividends, fees and charges).

Current consensus price target is $141.93, suggesting upside of 17.7% (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