Australian Broker Call

Morgans rates APT as Downgrade to Hold from Add (3) -

The stock is trading at its highest multiples compared with historical averages. Morgans upgrades earnings forecasts for the next two years because of improved revenue and bad debt assumptions, based on recent trends.

However, the rating is downgraded to Hold from Add on valuation grounds. Target is raised to $46.00 from $33.11. The fact Tencent has taken a 5% stake in the company is an advantage, in the broker's view, providing substantial options going forward.

Target price is $46.00 Current Price is $47.57 Difference: minus $1.57 (current price is over target).
If APT meets the Morgans target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $32.18, suggesting downside of -32.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.2

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

Citi rates APX as Buy (1) -

Appen has reiterated FY20 earnings guidance but this implies a minor downgrade given the translation benefit from a lower Australian dollar over March and April, Citi notes.

Still, the investment in sales and marketing is running to plan which also signals confidence in the demand outlook.

The broker retains a Buy rating and believes the business is well-placed to benefit from increased expenditure on artificial intelligence. Target is $30.90.

Target price is $30.90 Current Price is $30.80 Difference: $0.1
If APX meets the Citi target it will return approximately 0% (excluding dividends, fees and charges).

Current consensus price target is $31.48, suggesting upside of 2.2% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.6

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

UBS rates APX as Buy (1) -

Appen has reaffirmed guidance, expecting 2020 underlying earnings (EBITDA) in the range of $125-130m. UBS finds operating momentum positive and suspects there is upside risk to the guidance.

Importantly the company has reiterated expectations for a material step-up in investment in the first half, which signals confidence in the near-term growth opportunities. Buy and $32 target retained.

Target price is $32.00 Current Price is $30.80 Difference: $1.2
If APX meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).

Current consensus price target is $31.48, suggesting upside of 2.2% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.6

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

Citi rates ASB as Buy (1) -

The company has upgraded FY20 guidance and Citi highlights the opportunities in autonomous vehicles, hospital ships in the US and potential in the Philippines.

The broker suspects guidance could be conservative if Austal can continue to operate its shipyards without disruption from the pandemic. Buy rating maintained. Target is raised to $4.05 from $3.38.

Target price is $4.05 Current Price is $3.65 Difference: $0.4
If ASB meets the Citi target it will return approximately 11% (excluding dividends, fees and charges).

Current consensus price target is $3.22, suggesting downside of -11.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.3

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

Ord Minnett rates ASB as Lighten (4) -

Austal has upgraded FY20 revenue and earnings guidance. The company has seen a strong recovery in its US shipbuilding business with margins improving each year, reports Ord Minnett.

The broker considers near-term earnings predictable but is not so positive on long term earnings with more than 70% earnings coming to an end soon, but as yet not being replaced by similar programs.

Rating maintained at Lighten with the target price increased to $2.50 from $2.40.

Target price is $2.50 Current Price is $3.65 Difference: minus $1.15 (current price is over target).
If ASB meets the Ord Minnett target it will return approximately minus 32% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $3.22, suggesting downside of -11.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.3

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

Morgan Stanley rates AWC as Overweight (1) -

Alcoa is reviewing its San Ciprian aluminium plant (Spain) post which it plans on starting a dismissal process. While the alumina refinery, 100% owned by AWAC (in which Alumina has a 40% stake) is not under review, Morgan Stanley notes it incurs high operating costs and there may be scope for restructuring the business.

The broker retains its Overweight rating with a target price of $2.05. Industry view: In-line.

Target price is $2.05 Current Price is $1.51 Difference: $0.54
If AWC meets the Morgan Stanley target it will return approximately 36% (excluding dividends, fees and charges).

Current consensus price target is $1.65, suggesting upside of 9.3% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

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

Market Sentiment: 0.2

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

Citi rates BIN as Upgrade to Buy from Neutral (1) -

Citi lowers FY20 forecasts by around -8% to reflect weaker waste collections and post collections volumes. Volumes are expected to return to trend growth from the second half of FY21.

The broker still expects Bingo Industries can reach its long-run margin target of around 30%. The broker also suspects consensus estimates and expectations for a market share war are overdone.

Rating is upgraded to Buy/High Risk from Neutral/High Risk and the target lowered to $3.10 from $3.30.

Target price is $3.10 Current Price is $2.55 Difference: $0.55
If BIN meets the Citi target it will return approximately 22% (excluding dividends, fees and charges).

Current consensus price target is $2.44, suggesting downside of -4.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.6

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

Citi rates BKL as Neutral (3) -

Citi assesses Blackmores is trying to establish a platform for more sustainable and predictable growth. The capital raising reduces gearing and allows for investment in the business prior to the $50m in cost savings coming through by FY23.

Still, Citi assesses risks remain high in China. In Australasia strong demand for immunity products has led to some being out of stock amid reduced promotions.

Blackmores is also trying to reduce its reliance on the retail channel and build a stronger presence in practitioner markets. Neutral rating and $79.80 target maintained.

Target price is $79.80 Current Price is $82.55 Difference: minus $2.75 (current price is over target).
If BKL meets the Citi target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $72.47, suggesting downside of -12.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: -0.2

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

Citi rates CGC as Neutral (3) -

The AGM included qualitative comments regarding trading which, on balance, Citi assesses has been good so far. The broker considers the business is on track to meet forecasts.

The main negatives have been lower demand for tomatoes and reduced volumes for raspberries. Citrus remains the biggest risk to earnings, with around $4-6m in EBITDA at risk in FY20, in the broker's estimates.

Buy rating and $3.40 target maintained.

Target price is $3.40 Current Price is $3.18 Difference: $0.22
If CGC meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $3.32, suggesting upside of 4.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.4

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

Credit Suisse rates CGC as Outperform (1) -

Credit Suisse found the AGM update conservative and retains estimates unchanged. Stronger prices and demand for mushrooms are holding up in the grocery channel while the company has described the citrus crop is smaller and variable.

In the berry market pricing remains strong. Outperform rating maintained. Target is $3.50.

Target price is $3.50 Current Price is $3.18 Difference: $0.32
If CGC meets the Credit Suisse target it will return approximately 10% (excluding dividends, fees and charges).

Current consensus price target is $3.32, suggesting upside of 4.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.4

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

Macquarie rates CGC as Underperform (5) -

Macquarie found the AGM update mixed. The company has noted that the pandemic has meant a major dislocation of operations in markets and the international business.

This has affected the main harvest season in the UK, Europe and Morocco. On the positive side, demand and prices are solid, particularly in the retail market.

The main concern is citrus where there is generally smaller fruit. Underperform rating. Target is raised to $2.87 from $2.78.

Target price is $2.87 Current Price is $3.18 Difference: minus $0.31 (current price is over target).
If CGC meets the Macquarie target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $3.32, suggesting upside of 4.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.4

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

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

Morgans assesses the outcome of the 2020 citrus crop is the main risk for the remainder of the year and will be the determinate of whether guidance is achieved.

The broker also believes Costa Group has done a good job of navigating pandemic-related challenges.

Amid signs the headwinds are moderating, Morgans upgrades to Add from Hold. Target is raised to $3.60 from $3.05.

Target price is $3.60 Current Price is $3.18 Difference: $0.42
If CGC meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges).

Current consensus price target is $3.32, suggesting upside of 4.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.4

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

UBS rates CGC as Buy (1) -

UBS considers the AGM update in line with expectations and maintains forecasts. International business is stronger with good seasons in Morocco and China.

Mushrooms have benefited from improved pricing while citrus remains soft. The broker retains a Buy rating because of the improved earnings outlook and balance sheet. Target is $3.25.

Target price is $3.25 Current Price is $3.18 Difference: $0.07
If CGC meets the UBS target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $3.32, suggesting upside of 4.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.4

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

Morgan Stanley rates CSL as Equal-weight (3) -

CSL has reaffirmed FY20 guidance but Morgan Stanley notes social distancing will impact plasma collection with April and May impacted. The broker also notes an increase in donor fees/cost per litre and expects these factors to impact earnings in the long term.

The broker forecasts a hit to collections to the tune of -10% in the June quarter with a rebound expected in the September quarter.

Equal-weight rating maintained with a target price of $288. Industry view: In-line.

Target price is $288.00 Current Price is $284.09 Difference: $3.91
If CSL meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges).

Current consensus price target is $314.81, suggesting upside of 10.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

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

Market Sentiment: 0.4

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

Citi rates EVT as Downgrade to Neutral from Buy (3) -

The share price has increased 52% since March 23 and, as a result, Citi downgrades to Neutral from Buy. The downgrade relates to risks to the cinema division outlook and the valuation of property.

While the hotel division should benefit from a resurgent domestic tourism sector, the broker still expects challenges from lower corporate travel because of increased use of videoconferencing.

Citi also suspects Event Hospitality will try to avoid raising equity and/or selling assets. New debt, however, may have higher borrowing costs or restrictions on dividends and growth capital expenditure. Target is raised to $9.75 from $7.45.

Target price is $9.75 Current Price is $9.21 Difference: $0.54
If EVT meets the Citi target it will return approximately 6% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.5

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

Citi rates FNP as Buy (1) -

The trading update disappointed Citi but the reasons are largely known and demand has started to improve. Growth strategies appear intact.

Citi expects the company will use $75m in increased short-term borrowing limits to meet its cash requirements in the second half.

The FY21 outlook is more positive as a number of factors, in addition to a consumer recovery, should contribute to better outcomes.

These include lower milk prices, amid more supply in the northern hemisphere and easing of drought locally, as well as cost savings.

Buy rating maintained. Target is reduced to $5.30 from $6.00.

Target price is $5.30 Current Price is $3.51 Difference: $1.79
If FNP meets the Citi target it will return approximately 51% (excluding dividends, fees and charges).

Current consensus price target is $4.79, suggesting upside of 36.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.7

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

Morgans rates FNP as Downgrade to Hold from Add (3) -

The company's high-margin products have been severely affected by the restrictions relating to the pandemic. Morgans downgrades forecasts materially, expecting it will take time for the out-of-home channel to fully recover.

The broker believes Freedom Foods needs to closely manage its balance sheet or an equity raising will be required. As earnings will take time to recover and multiples are stretched, the broker downgrades to Hold from Add. Target is reduced to $4.33 from $5.05.

Target price is $4.33 Current Price is $3.51 Difference: $0.82
If FNP meets the Morgans target it will return approximately 23% (excluding dividends, fees and charges).

Current consensus price target is $4.79, suggesting upside of 36.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.7

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

UBS rates FNP as Buy (1) -

The impact of the pandemic is materially worse than UBS expected and second half estimates are reduced by -36% and FY21 by -14%. Debt concerns are heightened.

The main variance to the broker's previous expectations was the magnitude of the out-of-home impact, visibility on cream sales and promotional activity. UBS maintains a Buy rating and reduces the target to $4.75 from $6.40.

Target price is $4.75 Current Price is $3.51 Difference: $1.24
If FNP meets the UBS target it will return approximately 35% (excluding dividends, fees and charges).

Current consensus price target is $4.79, suggesting upside of 36.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.7

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

UBS rates JHC as Neutral (3) -

Occupancy has declined to 91.7% on May 26. The company's trading update showed net inflows from deposits of $18m in the second half. The broker suspects operating conditions remain challenging across the industry.

This is likely to continue into FY21 when the company will also be cycling around $5m in one-off government payments.

Japara Healthcare will deliver a -$270-300m impairment at its FY20 result, primarily affecting goodwill.

Neutral rating maintained. Target is reduced to $0.60 from $0.95.

Target price is $0.60 Current Price is $0.56 Difference: $0.04
If JHC meets the UBS target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $0.67, suggesting upside of 18.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.0

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

Citi rates LOV as Downgrade to Sell from Buy (5) -

Citi downgrades to Sell from Buy, following the V-shaped recovery in the share price, up 219% since March 19. The broker does not envisage downside risks are factored into consensus net profit forecasts, which assume FY22 will more than double FY20.

The broker envisages risks stemming from costume jewellery underperforming the broader discretionary retail category as well as dependence on shopping centres for foot traffic.

There is also the prospect of a slower roll-out of stores and exposure to countries that have experienced a greater impact from the pandemic. Target is reduced to $5.85 from $6.90.

Target price is $5.85 Current Price is $7.79 Difference: minus $1.94 (current price is over target).
If LOV meets the Citi target it will return approximately minus 25% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $6.67, suggesting downside of -14.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.0

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

Morgan Stanley rates NEC as Overweight (1) -

Nine Entertainment has revised the terms of its contract with NRL and the new one has a shorter season with Morgan Stanley noting a drop in FY20-22 costs.

The broker also approves of not extending the contract beyond three years due to fast-changing viewing patterns.

Overweight rating maintained with a target price of $1.90. Industry view: Attractive.

Target price is $1.90 Current Price is $1.50 Difference: $0.4
If NEC meets the Morgan Stanley target it will return approximately 27% (excluding dividends, fees and charges).

Current consensus price target is $1.87, suggesting upside of 24.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 1.0

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

Ord Minnett rates NEC as Buy (1) -

Nine Entertainment Group revised the NRL contract terms, expecting to save -$27.5m over FY21 and FY22. Ord Minnett expects free-to-air TV ads to decline in May and June by -35% year on year.

Revenue forecasts for FY20-21 have been downgraded to $2.2bn and $2.19bn by the broker. Buy recommendation reiterated with a target price of $2.10.

Target price is $2.10 Current Price is $1.50 Difference: $0.6
If NEC meets the Ord Minnett target it will return approximately 40% (excluding dividends, fees and charges).

Current consensus price target is $1.87, suggesting upside of 24.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 1.0

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

Morgans rates OTW as Hold (3) -

Despite the volatility over the last three months the business is tracking broadly in line with expectations.

The company has indicated it is comfortable with consensus expectations for FY20 and stronger demand for core voice and data services has offset weaker demand for project work.

Morgans revises forecasts marginally lower and retains a Hold rating believing, in the context of significant earnings declines for many companies, the update is a positive outcome. Target is reduced to $3.65 from $3.79.

Target price is $3.65 Current Price is $3.28 Difference: $0.37
If OTW meets the Morgans target it will return approximately 11% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.0

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

Ord Minnett rates PBH as Buy (1) -

Pointsbet Holdings has benefited from horse racing in Australia which carried on even as sports shut down due to covid-19.

Ord Minnett notes the company is well-positioned due to its partnership with Channel 7. In the US, NBA and MLB aim for a return in July.

FY20-21 revenue forecasts increased by the broker. Ord Minnett reaffirms Buy with target price increased to $5.90 from $5.

Target price is $5.90 Current Price is $6.00 Difference: minus $0.1 (current price is over target).
If PBH meets the Ord Minnett target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 1.0

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

Ord Minnett rates RHC as Accumulate (2) -

Ord Minnett is confident about Ramsay Health Care’s profitability rebounding in FY21 with core hospitals returning to normal. The broker forecasts increasing revenues due to deferred elective surgery cases.

FY21 earnings forecast revised upwards by 20% with the delayed Medibank Private (MBL)) contract presenting a key risk for the healthcare provider. Accumulate rating retained with target price increased to $78.25 from $66.

Target price is $78.25 Current Price is $69.23 Difference: $9.02
If RHC meets the Ord Minnett target it will return approximately 13% (excluding dividends, fees and charges).

Current consensus price target is $67.52, suggesting downside of -2.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.2

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

Credit Suisse rates STO as Resume Coverage with Outperform (1) -

Credit Suisse considers the two largest growth drivers are Dorado and Barossa, which are the most likely to proceed. The business has high exposure to the upside from a recovery in oil markets.

The broker also suggests Narrabri is more likely to proceed post the pandemic, with the lifting of onshore drilling restrictions in order to bolster the economic recovery.

Only PNG expansion remains materially at risk, in the broker's view. Credit Suisse resumes coverage with an Outperform rating and $6.61 target.

Target price is $6.61 Current Price is $5.49 Difference: $1.12
If STO meets the Credit Suisse target it will return approximately 20% (excluding dividends, fees and charges).

Current consensus price target is $5.85, suggesting upside of 6.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

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

Macquarie rates SUL as Outperform (1) -

Macquarie considers the risk/reward more balanced now. The broker has feedback that suggests Supercheap Auto and Rebel are holding up well relative to other discretionary retail categories.

Macquarie suspects these brands will attract more investor attention in the current environment if this resilience continues and will support the share price despite weakness in the leisure brands.

Outperform rating maintained. Target is raised to $9 from $6.

Target price is $9.00 Current Price is $8.44 Difference: $0.56
If SUL meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $8.34, suggesting downside of -1.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.8

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

Credit Suisse rates VCX as Upgrade to Outperform from Neutral (1) -

Vicinity Centres has recently reported that 50% of retailers in its centres were open in the first week of May. The impact of rent relief on earnings remains unclear.

While Credit Suisse is unable to quantify the impact of the pandemic with any certainty, FY20-22 estimates are reduced by -8.0-14.5% to reflect the potential impact of rent relief and negative re-leasing spreads.

The company appears to be more inclined to take other capital management options, including cutting the dividend, rather than raising equity.

Nevertheless, the broker considers the downside is captured in the current price and upgrades to Outperform from Neutral. Target is reduced to $1.93 from $2.38.

Target price is $1.93 Current Price is $1.61 Difference: $0.32
If VCX meets the Credit Suisse target it will return approximately 20% (excluding dividends, fees and charges).

Current consensus price target is $1.73, suggesting upside of 7.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.3

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

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

Morgans suggests the recent sell-off in Viva Energy shares is overdone. Refining market conditions remain depressed but the recent divestment of property has ideally positioned the balance sheet, suggests the broker.

There is potential for a relief rally, stemming from initial signs that traffic activity is recovering, the report suggests. The broker upgrades to Add from Hold. Target is raised to $1.90 from $1.47.

Target price is $1.90 Current Price is $1.60 Difference: $0.3
If VEA meets the Morgans target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $1.78, suggesting upside of 11.1% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

Market Sentiment: 0.5

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

Ord Minnett rates VHT as Hold (3) -

FY20 result of Volpara Health Technologies has the average rate of return (ARR) at NZ$18m, supported by the MRS systems acquisition.

Ord Minnett notes modest organic growth in the broader offering and expects management to focus on costs over the next 12 months. The broker considers ARR an important parameter for improvement and notes covid-19 to be a challenge.

Rating maintained at Hold with the target price reduced slightly to $1.46 from $1.47.

Target price is $1.46 Current Price is $1.41 Difference: $0.05
If VHT meets the Ord Minnett target it will return approximately 4% (excluding dividends, fees and charges).

The company's fiscal year ends in March.

Forecast for FY21:

Forecast for FY22:

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

UBS rates WPL as Buy (1) -

The oil price has lifted from its April low, benefiting from a lift in sentiment as a result of reduced supply and the lifting of mobility restrictions.

Meanwhile, oil stocks have rallied up to 70% from the lows earlier in the year. UBS lifts Woodside Petroleum's price target to $26.00 from $22.64 on the improving sentiment. Buy rating maintained.

Target price is $26.00 Current Price is $22.86 Difference: $3.14
If WPL meets the UBS target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $24.34, suggesting upside of 6.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY20:

Forecast for FY21:

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

Market Sentiment: 0.4

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