Australian Broker Call

Macquarie rates AWC as Underperform (5) -

Alumina prices have rallied and Macquarie suspects the reported coup d'état in Guinea has increased concerns about the security of bauxite supply. Historically, alumina prices have been highly sensitive to interruptions in supply.

In a spot price scenario the broker's earnings estimates for Alumina Ltd increase by 31% and 170% for 2021 and 2022 which would lift the dividend yield to 7.5%.

Yet, while there is earnings momentum in a spot scenario the broker notes the dividend yield and free cash flow of Alumina Ltd are below peers. Underperformed retained. Target is steady at $1.30.

Target price is $1.30 Current Price is $2.06 Difference: minus $0.76 (current price is over target).
If AWC meets the Macquarie target it will return approximately minus 37% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $1.83, suggesting downside of -9.7% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY21:

Forecast for FY22:

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

Morgans rates BBT as Add (1) -

BlueBet Holdings has withdrawn its Virginia licence application. Nevertheless, the market entry strategy in the US is unchanged and management is looking at potential market access as a B2C provider in Colorado, Tennessee and Maryland.

Yet Morgans suspects the market needs to witness greater progress on US access before re-rating the stock. Meanwhile, the core Australian business remains strong. Add rating retained. Target falls to $2.57 from $2.80.

Target price is $2.57 Current Price is $1.94 Difference: $0.63
If BBT meets the Morgans target it will return approximately 32% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 1.0

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

UBS rates COF as Sell (5) -

Centuria Office has recently completed the acquisition of a South Melbourne asset for $205m and 50% of 203 Pacific Highway St Leonards. UBS reflects the dilution from the transactions in estimates, taking FFO in FY22 down to $0.18 per security.

The broker had recently stated that guidance provided at the results was conservative and now, with the dilution, retracts this view. Sell rating and $2.25 target maintained.

Target price is $2.25 Current Price is $2.59 Difference: minus $0.34 (current price is over target).
If COF meets the UBS target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $2.48, suggesting upside of 0.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.0

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

Credit Suisse rates CTD as Downgrade to Neutral from Outperform (3) -

Credit Suisse assesses the market is increasingly close to reflect Corporate Travel's synergy and efficiencies target. Yet, delays to office timelines limit the full sales potential for the business.

Additionally, the share price has continued to rise and while still envisaging upside, the broker suspects this is likely to take longer than previously anticipated. Hence, the rating is downgraded to Neutral from Outperform. Target is $23.

Target price is $23.00 Current Price is $23.62 Difference: minus $0.62 (current price is over target).
If CTD meets the Credit Suisse target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $23.65, suggesting upside of 2.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.7

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

Macquarie rates FCL as No Rating (-1) -

In reviewing the multiples of Fineos Corp and peers, Macquarie notes gross profit margins are broadly consistent. These range from 49-56%.

Macquarie is unable to provide a target or rating at present.

Current Price is $4.50. Target price not assessed.

Current consensus price target is $4.82, suggesting upside of 9.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

This company reports in EUR. 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

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

The large exposure to Australasian sales, particularly the international outbound component, has made Flight Centre the least preferred in Credit Suisse's coverage.

Yet, with progress on vaccinations and a better break-even opportunity, the rating is upgraded to Outperform from Neutral and the broker's new stock travel pick.

The broker assesses the corporate division has been steadily gaining market share and remains a high-quality business. Target is raised to $19 from $18.

Target price is $19.00 Current Price is $17.50 Difference: $1.5
If FLT meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $16.86, suggesting downside of -9.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: -0.1

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

Macquarie rates FMG as Outperform (1) -

Macquarie was impressed by the cash returns to shareholders in FY21 which totalled $11bn. Nevertheless, declining iron ore prices are expected to fall over time.

The company is still expected to maintain 10% free cash flow yields into the medium term as declining capital expenditure will offset the lower iron ore prices. If prices are maintained at current levels, this lifts forecast free cash flow yields to 18% for FY23 and beyond.

Outperform maintained. Target is reduced to $25 from $27.

Target price is $25.00 Current Price is $18.57 Difference: $6.43
If FMG meets the Macquarie target it will return approximately 35% (excluding dividends, fees and charges).

Current consensus price target is $21.32, suggesting upside of 18.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

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

Market Sentiment: 0.0

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

Citi rates FPH as Sell (5) -

Fisher & Paykel Healthcare has indicated total revenue for the first four months of FY22 is NZ$583m, -2% below the prior corresponding period in constant currency terms.

Sales in North America and Europe have declined significantly although in the rest of the world sales are growing off a high base. This situation reflects high vaccination rates in North America and Europe which have resulted in lower hospitalisations.

Citi increases estimates for FY22 revenue and upgrades earnings per share by 14%. Sell rating and NZ$27 target price maintained.

Current Price is $32.51. Target price not assessed.

Current consensus price target is $32.50, suggesting upside of 0.4% (ex-dividends)

The company's fiscal year ends in March.

Forecast for FY22:

Forecast for FY23:

This company reports in NZD. 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

Ord Minnett rates HMY as Buy (1) -

Underlying gross income of $83m showed a stable half on half revenue performance for Harmoney Corp, which Ord Minnett sees as a solid result conscious of the competitive issues flagged in NZ earlier in the year, and the rapidly growing but still smaller Australian loan book.

While lockdown restrictions provide a level of constraint to growth in the short term, the broker is hugely encouraged by the level of new customer applications, totalling 10,000 per month across Australia and NZ, as another signal that the direct customer acquisition strategy continues to work efficiently.

The company has provided guidance for FY22 NZ$90m revenues and the broker's forecasts are consistent with this.

Buy rating retained. Target is reduced to $3.11 from $3.36.

Target price is $3.11 Current Price is $1.96 Difference: $1.15
If HMY meets the Ord Minnett target it will return approximately 59% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 1.0

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

Ord Minnett rates HSN as Upgrade to Buy from Hold (1) -

While no specific reason was given, BGH Capital has withdrawn its proposed takeover of Hansen Technologies, with all formal
proceedings relating to the takeover now terminated.

The broker notes Hansen's recent cash flow track record has been excellent and estimates the company now has a debt capacity of around $350m.

Ord Minnett expects the company to focus on M&A, where it has an excellent track execution and integration record, especially once global travel opens up in 2022.

The company reiterated its FY25 targets of $500m revenue at an earnings margin of 32-35%, and the broker's earnings forecasts are unchanged.

Ord Minnett upgrades Hansen Technologies to Buy from Hold and the target of $6.50 is unchanged.

Target price is $6.50 Current Price is $5.60 Difference: $0.9
If HSN meets the Ord Minnett target it will return approximately 16% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 1.0

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

Credit Suisse rates HVN as Neutral (3) -

Credit Suisse makes some small adjustments to sales forecasts and assumes lockdowns in Sydney and Melbourne continue into October. This drives earnings downgrades and reduction in the target to $5.65 from $5.80. Neutral retained.

Target price is $5.65 Current Price is $5.25 Difference: $0.4
If HVN meets the Credit Suisse target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $6.16, suggesting upside of 18.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.7

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

Macquarie rates IPL as Outperform (1) -

Spot fertiliser prices are above Macquarie's FY22 forecasts and provide good momentum for the year ahead. The company has provided no update on Hurricane Ida and the broker notes power is gradually being restored to New Orleans.

The WALA plant is reliant on external power from the grid but the absence of any announcement would suggest there is no structural damage, the broker suggests. Outperform rating and $3.04 target maintained.

Target price is $3.04 Current Price is $2.66 Difference: $0.38
If IPL meets the Macquarie target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $3.01, suggesting upside of 10.6% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 1.0

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

Morgan Stanley rates IPL as Overweight (1) -

Based on reports from CRU, two fertiliser manufacturing plants in Louisiana have declared force majeure due to damage from Hurricane Ida.

Morgan Stanley believes the implications of these outages are meaningful for Incitec Pivot leading to tightening of supply and demand dynamics. Integral to this conclusion, adds the broker, is confirmation that the company's WALA facility has emerged unscathed.

There has not been an update from the company but at this stage, Morgan Stanley assumes “no news is good news”.

The broker sees upside risk in Incitec Pivot from supportive fertiliser markets and expects meaningful upgrades to consensus for this year and next based on spot prices.

Overweight maintained. Industry view: In-Line. Target is $2.90.

Target price is $2.90 Current Price is $2.66 Difference: $0.24
If IPL meets the Morgan Stanley target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $3.01, suggesting upside of 10.6% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 1.0

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

Credit Suisse rates JBH as Outperform (1) -

Credit Suisse makes some small adjustments to sales forecasts and assumes lockdowns in Sydney and Melbourne continue into October. This drives earnings downgrades and reduction in the target to $53.66 from $56.48. Neutral retained.

Target price is $53.66 Current Price is $45.55 Difference: $8.11
If JBH meets the Credit Suisse target it will return approximately 18% (excluding dividends, fees and charges).

Current consensus price target is $52.31, suggesting upside of 14.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.0

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

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

Citi suspects decisions around the Ashburton development and re-start of Wodgina will be outlined on or before the AGM that is scheduled for November 18.

The share price is down -15% from the recent high in July as benchmark iron ore prices have dropped. The broker believes an upward trend in the lithium market will largely offset weakness in iron ore and the growth outlook is unaffected.

Rating is upgraded to Buy from Neutral and the target is steady at $65. The company has completed the acquisition of 40% of the Red Hill joint venture which further supports Ashburton.

Target price is $65.00 Current Price is $53.73 Difference: $11.27
If MIN meets the Citi target it will return approximately 21% (excluding dividends, fees and charges).

Current consensus price target is $60.12, suggesting upside of 16.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.6

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

Ord Minnett rates MME as Buy (1) -

Following a FY21 result that was largely in line with expectations, Ord Minnett expects that July and August have started strongly for
MoneyMe, supported by the ramp-up in the new AutoPay product, where real upside awaits once lockdowns are phased out.

The broker forecasts the gross loan book to expand by 59% in FY22 to $531m and for gross income to grow by 63% to $94.4m.

The broker believes MoneyMe trades on a premium to sector peers to reflect its innovative product mix, improving diversification of the loan book by product type, and efficient operating structure delivering improving returns on capital.

Ord Minnett maintains its Buy rating. Target increases to $2.37 from $2.35.

Target price is $2.37 Current Price is $2.18 Difference: $0.19
If MME meets the Ord Minnett target it will return approximately 9% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 1.0

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

Macquarie rates PLS as Outperform (1) -

Pilbara Minerals has upgraded its resource estimate by 25% after incorporating the Ngungaju project. This was larger than expected although Macquarie's base case already incorporates a large conversion of resources to reserves.

A reserve update is due in October. Meanwhile, Mineral Resources ((MIN)) has sold its entire 5.4% stake in Pilbara Minerals at $2.05 a share. Macquarie expects the free float market capitalisation will increase post the share sale.

The broker retains an Outperform rating and $2.70 target.

Target price is $2.70 Current Price is $2.14 Difference: $0.56
If PLS meets the Macquarie target it will return approximately 26% (excluding dividends, fees and charges).

Current consensus price target is $2.17, suggesting upside of 0.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.3

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

Morgans rates POS as Hold (3) -

Morgans revises its base case and assumes Poseidon Nickel refurbishes the 150,000tpa process plant to produce nickel in concentrate before moving to re-start the 1.1mtpa plant.

The company has now completed a $22m placement and an oversubscribed $6m share purchase plan to existing investors.

Final assays have now been received from Golden Swan with further high-grade intercepts noted. Morgans assesses the stock is fundamentally an exploration play and an option on the nickel price and retains a Hold rating. Target is raised to $0.13 from $0.076.

Target price is $0.13 Current Price is $0.12 Difference: $0.01
If POS meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.0

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

UBS rates RIO as Sell (5) -

In a deeper-dive research exercise on the internal dynamics that dominate the global market for iron ore, UBS analysts have come to the conclusion that Rio Tinto is likely to miss its own production guidance for the running calendar year.

Based upon analysis of shipments year-to-date, UBS finds Brazil's Vale is equally poised to miss guidance by -5-10m tonnes, similar to Rio Tinto. Based on similar data, BHP Group ((BHP)) is running closer but equally below guidance thus far.

UBS suggests covid restrictions are to blame. The analysts remain cautious as global supply is still rising, albeit marginally, at a time when demand is weakening.

Sell rating is unchanged.

Target price is $102.00 Current Price is $110.69 Difference: minus $8.69 (current price is over target).
If RIO 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 $133.43, suggesting upside of 22.7% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY21:

Forecast for FY22:

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

Macquarie rates S32 as Outperform (1) -

Reserves have largely decreased with mine depletion while resources have increased for Gemco and Cerro Matoso.

After updating reserves and resources, Macquarie assesses there is material earnings upgrade momentum as the company's commodities are trading at levels above current forecasts.

Alumina prices have rallied while there are bauxite supply concerns following the reported coup d'etat in Guinea which could provide impetus. Macquarie retains an Outperform rating and $4 target.

Target price is $4.00 Current Price is $3.35 Difference: $0.65
If S32 meets the Macquarie target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $3.57, suggesting upside of 8.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

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

Credit Suisse rates SKC as Neutral (3) -

Credit Suisse lowers FY22 estimates for earnings per share by -20%, considering it increasingly likely the Auckland casino will remain shut for at least another two weeks.

The broker also assumes conditions will be still somewhat restrictive once the casino re-opens. This leads to a reduction in non-gaming revenue assumptions. Neutral rating and $3.20 target maintained.

Target price is $3.20 Current Price is $3.23 Difference: minus $0.03 (current price is over target).
If SKC meets the Credit Suisse target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $3.20, suggesting downside of -1.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

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

Morgans rates STA as Add (1) -

The company has indicated that all major construction contracts have now been awarded and over 90% of project scope by value is committed. The current focus is on civil earthworks. The accommodation village is forecast to begin operation by the end of September.

Despite the recent lift in prices across most mineral sands products, particularly zircon, Morgans notes the Strandline Resources share price has stayed relatively flat.

The broker understands the reason behind this is the company's status as a project developer, which is compounded by the pressures in Western Australia's resources sector on both labour and materials.

Morgans retains an Add rating and reduces the target to $0.50 from $0.52.

Target price is $0.50 Current Price is $0.19 Difference: $0.31
If STA meets the Morgans target it will return approximately 163% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 1.0

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

Credit Suisse rates SUL as Outperform (1) -

Credit Suisse makes some small adjustments to sales forecasts and assumes lockdowns in Sydney and Melbourne continue into October.

Minor earnings changes are made while the target is raised to $14.41 from $14.40. Outperform maintained.

Target price is $14.41 Current Price is $12.51 Difference: $1.9
If SUL meets the Credit Suisse target it will return approximately 15% (excluding dividends, fees and charges).

Current consensus price target is $13.76, suggesting upside of 10.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.5

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

Ord Minnett rates TLS as Buy (1) -

Ord Minnett believes Telstra is at an inflection point with mobile average revenue per unit now increasing, the National Broadband Network rollout nearing an end, and with management also guiding to substantially higher operating earnings in each of the next two years.

The broker believes infrastructure asset sales, including InfraCo, could generate substantial value, which could lead to higher capital returns.

Overall, the broker believes Telstra is best placed in the Australian mobile market with the company’s headstart on the rollout of 5G
infrastructure likely to see market share gains of lucrative postpaid subscribers.

The broker remains positive that a return to mid-teens fixed margins could add up to $350–500m to annual earnings

Ord Minnett maintains its Buy rating and target price of $4.50.

Target price is $4.50 Current Price is $3.90 Difference: $0.6
If TLS meets the Ord Minnett target it will return approximately 15% (excluding dividends, fees and charges).

Current consensus price target is $4.24, suggesting upside of 8.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.8

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

Ord Minnett rates TYR as Buy (1) -

Following Tyro Payments' recent trading update, Ord Minnett notes the company reported $479m of total transaction value (TTV) over the past week, up 19% on the same period last year, while FY22 year-to-date total transaction value (TTV) of $4.6bn remains 23% higher than a year ago.

The broker's estimate of $31.7bn TTV for FY22 takes into account the current lockdown until the end of November. With strong progress in vaccinations, and increasingly positive news flow on timing for a gradual reopening, the broker sees risk as to the upside.

Ord Minnett maintains a Buy rating and the target of $4.20.

Target price is $4.20 Current Price is $3.95 Difference: $0.25
If TYR meets the Ord Minnett target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $4.25, suggesting upside of 5.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.8

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

Citi rates WEB as Neutral (3) -

Citi asserts consensus expectations for first half earnings are too high, noting the pace of the company's recovery is tracking below general aviation activity levels.

Nevertheless, the broker acknowledges the size of the opportunity and the targeted returns in the WebBeds division and accepts it is hard to be too negative.

Yet, given softer data, Citi pushes out expectations and views the opportunity and risk/reward as balanced. Hence, a Neutral/High Risk rating is maintained. Target is raised to $6.04 from $5.27.

Target price is $6.04 Current Price is $6.00 Difference: $0.04
If WEB meets the Citi target it will return approximately 1% (excluding dividends, fees and charges).

Current consensus price target is $6.02, suggesting downside of -0.9% (ex-dividends)

The company's fiscal year ends in March.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.4

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

Credit Suisse rates WEB as Downgrade to Neutral from Outperform (3) -

Credit Suisse envisages material upside to consensus estimates if Webjet can achieve its -20% cost reduction target. Nevertheless, the broker is cautious about fully modelling the upside.

Improvement is expected in the primarily domestic Australian B2C division into 2022. There was limited opportunity, given the resurgence in the pandemic, to fully capture the northern hemisphere summer in the bed bank division.

Credit Suisse now has a preference for Flight Centre ((FLT)), likely to be a key beneficiary for Australia's re-opening. Credit Suisse downgrades to Neutral from Outperform and raises the target to $5.70 from $5.20.

Target price is $5.70 Current Price is $6.00 Difference: minus $0.3 (current price is over target).
If WEB meets the Credit Suisse target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $6.02, suggesting downside of -0.9% (ex-dividends)

The company's fiscal year ends in March.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.4

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