Australian Broker Call

Bell Potter rates AHL as Buy (1) -

Adrad's FY24 guidance provided at the AGM fell shy of Bell Potter's forecasts but the broker agrees with management that earnings were respectable.

Earnings forecasts fall -3% over the forecast period.

Buy rating retained. Target price falls to $1.38 from $1.45.

Target price is $1.38 Current Price is $0.83 Difference: $0.55
If AHL meets the Bell Potter target it will return approximately 66% (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 ALU as Upgrade to Outperform from Neutral (1) -

Altium's investor day provided Macquarie with early signs the new strategy is resonating with both existing and new customers. These customers represent an expansion into a different engineering domain at the same customer, and in some cases, new customers in new areas of the value chain.

New deal wins at large customers will drive future results, the broker suggests. Moreover, the rollout strategy is to land at large customers, then grow wallet share.

Macquarie has upgraded its earnings forecasts and increased its target to $49.70 from $39.10. Upgrade to Outperform from Neutral.

Target price is $49.70 Current Price is $44.58 Difference: $5.12
If ALU meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges).

Current consensus price target is $46.41, suggesting upside of 4.0% (ex-dividends)

The company's fiscal year ends in June.

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: 0.3

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

Citi rates ASX as Neutral (3) -

In a long awaited update on a replacement for CHESS, ASX has announced it will employ TATA Consultancy Services' BaNCS for Market Infrastructure products, involving two releases in 2026 and 2028-2029 respectively, to run concurrently with CHESS. 

The first release is expected to cost between $105-$125m, while costs for the second release are to be determined, but Citi considers this a lower risk route than the already costly first version. While the update removes uncertainty, Citi sees a long way to go to project fruition. 

The Neutral rating and target price of $64.00 are retained.

Target price is $64.00 Current Price is $57.80 Difference: $6.2
If ASX meets the Citi target it will return approximately 11% (excluding dividends, fees and charges).

Current consensus price target is $60.62, suggesting upside of 6.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: -0.1

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

Morgan Stanley rates ASX as Underweight (5) -

In a modest positive for the share price, according to Morgan Stanley, the ASX has announced a staged CHESS replacement to run into 2028-29, which reduces strategic uncertainty and generates no immediate additional costs.

However, the broker maintains an Underweight rating with better value to be found elsewhere in the Financials sector, given no EPS growth is anticipated for the ASX until FY26.

Additionally, the analysts suggest it looks increasingly unlikely the ASX will derive any additional revenues from the CHESS
replacement.

The $53.50 target and Underweight rating are unchanged. Industry view: In-Line.

Target price is $53.50 Current Price is $57.80 Difference: minus $4.3 (current price is over target).
If ASX meets the Morgan Stanley target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $60.62, suggesting upside of 6.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: -0.1

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

UBS rates ASX as Sell (5) -

ASX has announced TATA Consultancy Services (TCS) as a new external technology provider in replacement of CHESS. While the announcment represents a fresh start, says UBS, and reduced delivery risk, a 5-6 year timeframe suggests the path remains complicated and expensive.

The broker was surprised by the selectation of TCS over higher profile providers. Implementation of the the new platform will happen over two releases, with first phase expenditure expected to total $105-125m over the next three years. 

The Sell rating and target price of $53.00 are retained.

Target price is $53.00 Current Price is $57.80 Difference: minus $4.8 (current price is over target).
If ASX meets the UBS target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $60.62, suggesting upside of 6.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: -0.1

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

Bell Potter rates AX1 as Buy (1) -

Accent Group's AGM trading update for the first 19 weeks of FY24 missed Bell Potter's forecasts due to a -2% fall in like-for-like sales.

The revised store target of 70 outpaced the broker's forecast and Bell Potter considers the maintenance of gross margins was a win given challenging trading conditions.

The broker revises down earnings forecasts accordingly.

Buy rating retained, Accent representing the broker's favourite retail pick given its scale, channels and brands.

Target price falls to $2.35 from $2.50.

Target price is $2.35 Current Price is $1.77 Difference: $0.58
If AX1 meets the Bell Potter target it will return approximately 33% (excluding dividends, fees and charges).

Current consensus price target is $2.15, suggesting upside of 17.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.2

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

Ord Minnett rates BLD as Hold (3) -

Ord Minnett estimates that Boral's FY24 guidance upgrades do not change the long term outlook.

FY24 EPS forecast rise 8% and FY23 DPS forecasts rise 10%.

Hold rating and $4.25 target price retained.

Target price is $4.25 Current Price is $5.02 Difference: minus $0.77 (current price is over target).
If BLD meets the Ord Minnett target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $4.62, suggesting downside of -7.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: -0.2

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

Macquarie rates CXO as Outperform (1) -

Macquarie observed first hand Core Lithium's strong preparedness for the upcoming wet season when visiting the Finniss project in the Northern Territory. Ore of 248kt is stockpiled, which is equivalent to around 1.5 quarters of mill feed, explains the analyst.

The Outperform rating and 60c target are unchanged.

The broker notes the BP33 (underground development) feasibility study and final investment decision are the main upcoming catalysts for the share price.

The Outperform rating and 60c target are unchanged.

This research was released yesterday by Macquarie.

Target price is $0.60 Current Price is $0.37 Difference: $0.235
If CXO meets the Macquarie target it will return approximately 64% (excluding dividends, fees and charges).

Current consensus price target is $0.46, suggesting upside of 25.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.3

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

Macquarie rates DMP as Upgrade to Outperform from Neutral (1) -

Macquarie anticipates margin improvement for franchisees of Domino's Pizza Enterprises from the addition of higher margin menu products.

An improvement in the overall growth outlook is expected as store openings depend on store-level profitability, explains the analyst. Hence, the rating is upgraded to Outperform from Neutral. It's also felt cost-of-goods-sold (COGS) pressures have peaked.

In addition, commentary from offshore competitors indicates to Macquarie fast food customer demand remains, despite rising cost of living pressures.

The target rises to $58 from $54 due to an improved earnings outlook for both A&NZ and Europe.

This research was released yesterday by Macquarie.

Target price is $58.00 Current Price is $53.69 Difference: $4.31
If DMP meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $58.77, suggesting upside of 8.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.6

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

Macquarie rates HLS as Downgrade to Neutral from Outperform (3) -

Healius is raising $187m to reduce net debt. First half earnings guidance was well below Macquarie's expectations, suggesting strong improvement in the second half is required to meet FY24 guidance.

The broker has cut earnings per share forecasts to reflect the raising and weaker guidance. Target falls to $1.95 from $2.90.

Despite a favourable longer-term outlook and improved balance sheet position, the nearer-term outlook remains uncertain, Macquarie suggests. Downgrade to Neutral from Outperform.

Target price is $1.95 Current Price is $1.84 Difference: $0.115
If HLS meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $2.61, suggesting upside of 42.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: -0.1

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

Macquarie rates IAG as Outperform (1) -

In FY24, Insurance Australia Group is aiming for more than $250m of insurance profit in its Intermediated Insurance Australia (IIA) division, and Macquarie believes underlying trends in the Commercial Lines market support this ambition.

In fact, the broker suggests a more aspirational target should be set for future years, given normalising for "Reported" items already accounts for circa $235m of the $250m target.

The Outperform rating and $6.30 target are unchanged.

This research was released yesterday by Macquarie.

Target price is $6.30 Current Price is $5.89 Difference: $0.41
If IAG meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $5.85, suggesting downside of -1.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.3

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

UBS rates IGL as Buy (1) -

On strong comparables, underlying business momentum for IVE Group appears to be tracking flat year-on-year, and the company has reaffirmed full year earnings guidance for 3-7% growth excluding the JacPak acquisition. 

UBS points out macro conditions remain a concern, but IVE Group group typically has more than six months visibility over catalogue work and recent channel checks suggest strong demand for magazine publication. 

The Buy rating is retained and the target price increases to $2.70 from $2.65.

Target price is $2.70 Current Price is $2.07 Difference: $0.63
If IGL meets the UBS target it will return approximately 30% (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

Citi rates KAR as Buy (1) -

Karoon Energy has acquired producing assets within the Gulf of Mexico."Who Dat" has fields with "development upside" according to Citi. Alongside a $480m equity raise, the acquisition was financed through cash and refinancing of the Bauna facility. 

The broker is forecasting annual production of 44,000 barrels of oil equivalent, but sees upside risk if new new oil-bearing formations are penetrated, and is particularly optimistic about Who Dat East. 

The Buy rating is retained and the target price increases to $3.50 from $3.00.

Target price is $3.50 Current Price is $2.12 Difference: $1.38
If KAR meets the Citi target it will return approximately 65% (excluding dividends, fees and charges).

Current consensus price target is $3.07, suggesting upside of 44.6% (ex-dividends)

The company's fiscal year ends in June.

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: 0.9

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

Morgan Stanley rates KAR as Overweight (1) -

Karoon Energy's FY24 pro forma production should increase by 27%, according to Morgan Stanley, following the acquisition of a 30% interest in the Who Dat project in the US Gulf of Mexico.

The transaction will be broadly free cash flow per share neutral, suggests the broker, but will add both production scale and diversity. 

The company will issue US$300m in equity via a fully underwritten placement and rights issue of $170 and $310m, respectively.

The target falls to $2.68 from $2.80 and the Overweight rating is maintained.  Industry view: Attractive.

Target price is $2.68 Current Price is $2.12 Difference: $0.56
If KAR meets the Morgan Stanley target it will return approximately 26% (excluding dividends, fees and charges).

Current consensus price target is $3.07, suggesting upside of 44.6% (ex-dividends)

The company's fiscal year ends in June.

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: 0.9

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

Macquarie rates NHC as Underperform (5) -

New Hope Corp's quarterly production and sales at Bengalla were weaker than Macquarie expected due to annual dragline maintenance, which drove an earnings miss.

The restart of New Acland stage 3 is underway, however the broker notes recent legal action poses a risk to the timing and ramp-up of the restart.

Thermal coal prices have declined recently, and cost inflation pressures remain. Macquarie estimates free cash flow yields of 15% at spot prices from FY25.

Underperform retained, target falls to $4.20 from $4.30.

Target price is $4.20 Current Price is $5.23 Difference: minus $1.03 (current price is over target).
If NHC meets the Macquarie target it will return approximately minus 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $5.28, suggesting upside of 1.6% (ex-dividends)

The company's fiscal year ends in July.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: -0.5

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

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

An upcoming period of peak death growth rates in A&NZ along with strong funeral industry pricing power should support mid-single digit organic industry growth, according to Macquarie.

Propel Funeral Partners has grown its A&NZ market share to around 8% from 3% June 2017 and the broker sees material scope for further industry consolidation. 

The company has only recently entered outer metro areas and the analyst highlights nine in ten funeral organisations are still independently owned. Macquarie initiates coverage on Propel with an Outperform rating given material potential upside from M&A.

A $5.95 target is set.

This research was released yesterday by Macquarie.

Target price is $5.95 Current Price is $4.78 Difference: $1.17
If PFP meets the Macquarie target it will return approximately 24% (excluding dividends, fees and charges).

Current consensus price target is $5.92, suggesting upside of 23.3% (ex-dividends)

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 SDF as Upgrade to Outperform from Neutral (1) -

Steadfast Group has raised $280m at $5.14 in an institutional placement with a further $30m in an SPP over the coming months, which clears capital-raise risk, Macquarie notes.

Steadfast has acquired Sure Underwriting Agency which the broker believes is a good asset with solid underwriting capacity, exceptional management and optionality nationally, internationally and in strata risks.

Macquarie does not believe the premium rate cycle in Australia is done yet, expecting it will hold at 14-15% for SME clients for the coming 12 months. Upgrade to Outperform from Neutral. Target falls to $5.90 from $6.40 on dilution.

Target price is $5.90 Current Price is $5.39 Difference: $0.51
If SDF meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $6.33, suggesting upside of 17.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.6

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

Macquarie rates SHL as Neutral (3) -

Following last week's Sonic Healthcare AGM and trading update for the first four months of FY24, Macquarie lowers its EPS forecasts. Slightly higher revenue growth assumptions were more than offset by increased operating cost growth, explains the analyst.

Management reaffirmed FY24 earnings (EBITDA) guidance of $1,700-1,800m, yet the 1H/2H skew of 42%/58% implies a larger second-half contribution than either the broker or consensus was expecting.

The Neutral rating is unchanged as Macquarie believes the earnings risk is skewed to the downside. The target falls to $31.15 from $32.

This research was released yesterday by Macquarie.

Target price is $31.15 Current Price is $29.13 Difference: $2.02
If SHL meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $35.29, suggesting upside of 20.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.7

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

Morgans rates SLC as Add (1) -

Last week's AGM and trading update for Superloop showed Morgans the business is progressing well with record NBN net additions and strong customer growth across all three segments.

The FY24 guidance range for underlying earnings (EBITDA) represents a 31-42% year-on-year rise but was marginally shy of the broker's forecast, resulting in a target price fall to $1.00 from $1.07.

Morgans keeps the Add rating on significant undervaluation, and further notes how low current investor sentiment is toward small-cap stocks.

Target price is $1.00 Current Price is $0.65 Difference: $0.35
If SLC meets the Morgans target it will return approximately 54% (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

Ord Minnett rates SVW as Lighten (4) -

Ord Minnett estimates that Seven Group's FY24 guidance upgrades do not change the long term outlook.

While a solid proposition, the broker considers the company's shares to overvalued.

FY24 EPS and DPS forecasts rise 5%, but the broker observes the dividend is still nothing to write home about.

Lighten rating and $27.50 target price retained.

Target price is $27.50 Current Price is $32.13 Difference: minus $4.63 (current price is over target).
If SVW meets the Ord Minnett target it will return approximately minus 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $32.15, suggesting downside of -0.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.5

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

Bell Potter rates TLS as Initiation of coverage with Hold (3) -

Bell Potter initiates coverage of Telstra with a Hold rating and $4.15 target price.

The broker observes Mobile and Infrastructure constituted 92% of earnings in FY23 - a plus given Mobile is growing and Infrastructure is supported by an average 24-year contract period with the NBN says Bell Potter.

Given its small contribution to earnings (8%), the broker doubts challenges in Enterprise will greatly affect earnings.

Bell Potter estimates a compound annual growth rate in underlying earnings (EBITDA) between FY21 and FY25 of 6.85%. The broker forecasts an earnings compound annual growth rate of 20.2%.

Target price is $4.15 Current Price is $3.81 Difference: $0.34
If TLS meets the Bell Potter target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $4.42, suggesting upside of 15.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.6

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

Citi rates UNI as Neutral (3) -

No major surprises for Citi from Universal Store's annual general update, with the broker noting like-for-like sales have continued to decline, although pace has slowed. 

Citi continues to forecast a -4.5% like-for-like sales decline over the first half, implying a challenging switch to sales growth over the last six weeks. Positively, cost of doing business is set to improve on the previous comparable period. 

The Neutral rating and target price of $3.56 are retained.

Target price is $3.56 Current Price is $3.46 Difference: $0.1
If UNI meets the Citi target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting upside of 21.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.6

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

Macquarie rates UNI as Neutral (3) -

Universal Store has reported earnings in the four months to October ahead of Macquarie's forecast. Despite a weak macro backdrop, like-for-like sales have improved in November versus earlier months.

Recently acquired THRILLS is not yet in the numbers, but management suggested it continues to “trade well” and is on track for “strong” growth in the first half.

Macquarie remains cautious as the company is still to defend tough comparables over the December quarter and into January amid ongoing macro uncertainty. Neutral retained. Target rises to $4.00 from $3.70.

Target price is $4.00 Current Price is $3.46 Difference: $0.54
If UNI meets the Macquarie target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting upside of 21.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.6

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

UBS rates UNI as Buy (1) -

As per an update at its AGM, Universal Store has reported a- 6.4% like-for-like sales decline in the first twenty weeks of the financial year, below UBS's expectations. 

The broker notes like-for-like sales did improve in the last six weeks, demonstrating the resilience of Universal Store's customer. The retailer continues to benefit from a younger demographic, less likely to be impacted by cost of living pressures. 

The Buy rating and target price of $4.25 are retained.

Target price is $4.25 Current Price is $3.46 Difference: $0.79
If UNI meets the UBS target it will return approximately 23% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting upside of 21.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.6

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

Macquarie rates WDS as Neutral (3) -

Macquarie has materially raised its depreciation & amortisation rates on Woodside Energy's Sangomar and Trion to reflect full write-off of initial investment over proven reserve production lives (8 years for Sangomar, 13 years for Trion).

This lowers the profit outlook, the broker notes, and accordingly the dividend outlook as well. The broker has also re-phased capex on several developments to better reflect fresh guidance, noting 2024 is clearly peak-capex.

More material declines in North West Shelf offshore production are expected by Woodside.

Neutral and $32 target retained.

Target price is $32.00 Current Price is $31.80 Difference: $0.2
If WDS meets the Macquarie target it will return approximately 1% (excluding dividends, fees and charges).

Current consensus price target is $35.57, suggesting upside of 11.3% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY23:

Forecast for FY24:

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

Market Sentiment: 0.1

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

Bell Potter rates WHC as Sell (5) -

After including Whitehaven Coal's purchase of Blackwater and Daunia in its forecasts, Bell Potter finds the deal to be EPS accretive, shifting the company's metallurgical to thermal coal ratio to a more positive 70%:30%.

The balance sheet is another story, the broker finding the acquisition slightly net-present-value decretive, undermining balance sheet strength.

The broker expects the company will need to increase its US$0.9bn bridge finance facility to more than US$1bn to meet the upfront payment in the June 2024 quarter and could go as high as US$1.2bn if spot prices remains at these levels.

Bell Potter believes investors will shift from yield focuses to growth investors given the acquisition reduces the company's capacity to pay dividends. FY25 EPS forecasts rise sharply but FY25 DPS forecasts fall.

All up, the broker expects upfront payment plus costs will be US$2.4bn and $150m could be needed as a working capital cash buffer, and the broker expects the company will be US$271m to $341m short.

Sell rating retained. Target price falls to $6.50 from $7.

Target price is $6.50 Current Price is $6.90 Difference: minus $0.4 (current price is over target).
If WHC meets the Bell Potter target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $7.56, suggesting upside of 10.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 0.2

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