Australian Broker Call

Bell Potter rates A4N as Speculative Buy (1) -

Bell Potter explains the start of civil works at Stage 2 of the high purity alumina (HPA) First Project in Gladstone marks a major milestone for Alpha HPA, with further updates expected as the ramp-up continues into 2026/27.

The company has secured letters of intent (LOIs) covering around 63% of Stage 2 capacity, with current LOIs under negotiation for volume scaling, plus a further five in draft form.

The analyst highlights Alpha HPA is experiencing quality and yield improvements at its Alpha Sapphire subsidiary, and sales of wafers have commenced to a major semiconductor manufacturer.

There is no change to the Speculative Buy rating and $2 target price.

Target price is $2.00 Current Price is $0.81 Difference: $1.195
If A4N meets the Bell Potter target it will return approximately 148% (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

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

Macquarie has initiated coverage of Aussie Broadband with an Outperform rating and target price of $5.05.

The broker believes the company is set for solid growth in its residential business from the government's NBN speed and fibre upgrades as they will drive more households to higher-speed plans.  

The analyst noted the balance sheet is robust and offers scope for further acquisition. The broker highlights the company delivered 34% EPS growth over FY21-25 and its current forecast is for 36% EPS growth to FY28, with upside risks.

A 7% upside is possible if the company achieves FY27 Buddy ambition, which would push up the share price by 4%, the broker believes. Another 25% upside to share price could come if the company delivers on its FY28 strategic ambitions.

Target price is $5.05 Current Price is $3.91 Difference: $1.14
If ABB meets the Macquarie target it will return approximately 29% (excluding dividends, fees and charges).

Current consensus price target is $4.76, suggesting upside of 21.4% (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 AMI as Buy (1) -

Ord Minnett retains a Buy rating on Aurelia Metals with a reduced target price of 31c from 41c following the company’s inaugural Investor Day.

Management's outlook missed market expectations for FY26 and FY27 and has ultimately deferred the free cash flow (FCF) inflection point by one year, explains the broker.

FY26 and FY27 guidance fell short of expectations due to lower zinc output, primarily at Peak South, and increased sustaining capex, explain the analysts. Zinc production for FY26–27 is now expected to be -36% below the broker’s estimate.

Despite the near-term downgrade, the broker highlights its longer-term thesis around Federation and New Cobar remains intact, with these two assets making up over 90% of its valuation for Aurelia.

The company's strong balance sheet with around $107m in cash and no debt underpins its valuation appeal, in Ord Minnett's opinion.

The target price falls to 31c from 41c. Buy rating retained.

Target price is $0.31 Current Price is $0.20 Difference: $0.115
If AMI 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 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 ANZ as Neutral (3) -

Citi believes investors remain concerned about ANZ Bank's strategy for future growth, as well as management changes and the rising risk of a dividend cut, which are outweighing the stock's otherwise reasonable valuation.

The bank continues to underperform its peers, with new CEO Nuno Matos expected to provide an update on ANZ's strategic direction in November.

The analyst views downside risks to costs as "limited" due to capacity challenges within internal functions, which could hinder progress in notable technology developments, a factor the market is already discounting.

Citi maintains a Neutral rating with an unchanged target price of $27.50, though it notes the relative underperformance is starting to look stretched compared to peers.

Target price is $27.50 Current Price is $29.20 Difference: minus $1.7 (current price is over target).
If ANZ meets the Citi target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $26.67, suggesting downside of -8.4% (ex-dividends)

The company's fiscal year ends in September.

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

Morgans rates APA as Trim (4) -

Morgans highlights two recent wins for APA Group: the acquisition of the Atlas to Reedy Creek (ARC) pipeline and the Australian Energy Regulator's (AER) backflip to regulate Basslink, both aligned with APA’s long-term strategy.

The ARC pipeline acquisition, priced at -$110m plus -$7m in associated costs, comes with a 20-year take-or-pay contract and is expected by management to contribute $12m in earnings (EBITDA) in FY26.

Morgans estimates a post-tax ungeared internal rate of return (IRR) of 8% and an equity IRR of 13%, exceeding APA’s usual investment hurdle rates.

Regulation of Basslink was APA’s original thesis for acquiring the asset, and the AER's decision supports predictable earnings, notes the analyst.

A key milestone will be determining the regulated asset base, assumed at $850m by Morgans, which slightly lifts forward earnings forecasts.

The broker raises its target price to $7.60 from $7.36 and retains a Trim rating.

Target price is $7.60 Current Price is $8.14 Difference: minus $0.54 (current price is over target).
If APA meets the Morgans target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $7.88, suggesting downside of -3.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.1

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

Citi rates BPT as Sell (5) -

Citi believes the proposed acquisition of Santos ((STO)) by a subsidiary of Abu Dhabi National Oil Company and Carlyle might create an opportunity for Beach Energy, which is under pressure with less than 8 years of 2P reserves.

A conditional approval for the takeover could open up investment opportunities, with the company likely to be interested in greenfield assets such as Narrabri.

The broker estimates such an investment would extend reserve life to around 14 years and will align with the company's pivot to long-life, domestic assets.

Sell. Target price $1.15.

Target price is $1.15 Current Price is $1.30 Difference: minus $0.15 (current price is over target).
If BPT meets the Citi target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $1.35, suggesting upside of 2.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: -0.3

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

UBS rates BWP as Buy (1) -

UBS views the latest announcement from BWP Trust to internalise management, extend and reset leases with Bunnings, and commit to capital expenditure as a positive for the REIT.

Under the proposal, BWP will pay Wesfarmers ((WES)) -$142.6m, composed of -$100m in cash and -$42.6m in equity at $3.92 per unit, for the management rights.

The lease term will increase to 8 years from the current 4.4 years, while Bunnings' weighted average lease expiry will rise to 9.5 years from 4.6 years.

Wesfarmers will also have additional lease options of 6 years, which adds an estimated 1.4%, or approximately $50m, to the portfolio's valuation.

UBS expects the transaction to be 2% accretive to EPS in FY26. There is no change to the Buy rating and $4.16 target price.

Target price is $4.16 Current Price is $3.55 Difference: $0.61
If BWP meets the UBS target it will return approximately 17% (excluding dividends, fees and charges).

Current consensus price target is $3.82, suggesting upside of 8.2% (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

Morgans rates CSC as Initiation of coverage with Buy (1) -

Morgans initiates coverage of Capstone Copper, noting the company’s transition into a high-growth phase driven by optimisation efforts and brownfield expansion provides a favourable outlook.

The company is a pure-play copper producer and developer with five diversified copper assets in the Americas.

Guidance is for copper production to rise 28% in 2025 to 235kt from 184kt in 2024, with costs (AISC) expected to fall by -15%.

The broker forecasts earnings (EBITDA) to grow at a compound rate of 14% through to 2030, supported by stronger output, cost efficiencies and a stable copper price backdrop.

The analysts expect several key catalysts in 2H25 including permitting and execution progress at Mantoverde, a strategic partnership for Santo Domingo, and a Phase II study at Mantos Blancos.

Morgans initiates with a Buy rating and sets a target price of $11.50.

Target price is $11.50 Current Price is $9.46 Difference: $2.04
If CSC meets the Morgans target it will return approximately 22% (excluding dividends, fees and charges).

Current consensus price target is $11.45, suggesting upside of 21.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

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

Ord Minnett rates LYC as Downgrade to Hold from Accumulate (3) -

Ord Minnett downgrades its recommendation on Lynas Rare Earths to Hold from Accumulate, following a strong share price run, while retaining a target price of $8.70.

The broker acknowledges Lynas stands to benefit from Western efforts to reduce reliance on Chinese rare earth exports, especially given geopolitical risks.

Still, a lack of downstream magnet manufacturing capacity in the US and Europe may constrain sales volumes, despite the company targeting 11.5ktpa NdPr output under its "Lynas 2025" plan.

Ord Minnett also notes high costs at the new Kalgoorlie plant (which is operating below capacity) weigh on near-term earnings, with valuation multiples considered stretched.

While Western buyers are likely to pay a premium for supply security, the broker cautions the timing and extent of price realisation remains unclear due to limited visibility on Western pricing benchmarks.

Target price is $8.70 Current Price is $8.88 Difference: minus $0.18 (current price is over target).
If LYC meets the Ord Minnett target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $8.23, suggesting downside of -4.5% (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

Citi rates MIN as Neutral (3) -

Citi notes Mineral Resources' stock is down -4% month-to-date, in line with iron ore peers.

The analyst reiterates a Neutral/High Risk rating on the company, as Mineral Resources is highly geared to iron ore prices, which are currently at US$91/t versus the consensus forecast of US$96/t for the September quarter and Citi’s forecast of US$95/t.

Onslow shipments are tracking toward the upper end of twice-revised guidance, with the broker lifting its June quarter estimate to 8.1Mt and raising its earnings (EBITDA) forecast by 1%.

Lower assumed interest costs have lifted net profit after tax forecasts by 11.6% for FY25, and by 245.9% for FY26, as the company holds US$3.05bn in bonds.

There is no change to the $20 target price.

Target price is $20.00 Current Price is $21.22 Difference: minus $1.22 (current price is over target).
If MIN meets the Citi target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $28.89, suggesting upside of 33.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.6

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

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

UBS has upgraded nib Holdings to Buy from Neutral and raised the target price to $7.85 from $7.35.

The analyst believes the stock’s valuation discount relative to Medibank Private ((MPL)) has become too wide, and sees this as unjustified.

UBS also anticipates a better outlook for nib’s Australian Residents Health Insurance (ARHI) division.

Private health insurance statistics for the March quarter showed solid policy growth of 2%-3%, with market share reaching an eight-year high, alongside signs of weakening hospital claims inflation per person.

Between FY25 and FY28, the analyst forecasts compound average EPS growth of 10%.

Target price is $7.85 Current Price is $6.47 Difference: $1.38
If NHF meets the UBS target it will return approximately 21% (excluding dividends, fees and charges).

Current consensus price target is $6.98, suggesting downside of -0.8% (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

Macquarie rates ORG as Neutral (3) -

Macquarie sees the Asian natgas market facing oversupply in the years ahead and has lowered the APLNG cash flow outlook by -$50m in FY28 and FY29.

The broker's updated coal price forecast is -$28/t below previous expectation, which it reckons will support the energy markets business, particularly in NSW, adding around $100m per annum to profitability in FY27-28.

Despite the prospect of softer APLNG dividends, Origin Energy is expected to maintain its 60c dividend via a higher free cash flow payout ratio. 

Target price rises to $10.12 from $10.00 on valuation roll-forward and coal, gas price revisions (respectively a positive and a negative for the company). Neutral maintained.

Target price is $10.12 Current Price is $10.85 Difference: minus $0.73 (current price is over target).
If ORG meets the Macquarie target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $10.61, suggesting downside of -2.1% (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

Morgans rates PPE as Speculative Buy (1) -

Morgans has lowered its earnings forecasts for PeopleIn ahead of the FY25 result, following weak trading conditions in the third quarter and expectations for a soft fourth quarter due to factors such as the timing of Easter.

The broker reduces its FY25 earnings (EBITDA) forecast by -12%, with FY26-27 earnings lowered by -6% to -7% as recovery assumptions are pushed further out.

While the broker's FY25 EPS  forecast is just 6c, down -80% from FY23’s 27c, Morgans notes stabilising margins around 3% and believes earnings are now cycling at a trough.

The analyst sees upside from any future improvement in recruitment or labour hire markets and retains a Speculative Buy rating and $1.05 target price.

Target price is $1.05 Current Price is $0.73 Difference: $0.325
If PPE meets the Morgans target it will return approximately 45% (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

Macquarie rates REH as Neutral (3) -

Reece's FY25 EBIT guidance of $548-558m was -6.4% below Macquarie's forecast at midpoint, and -5.8% below consensus. The company cited soft trading conditions during 2H25 in Australia/NZ as well as in the US. 

The company expects recent rate cuts in Australia/NZ to take time to reflect in improved housing activity. In the US, the high exposure to the residential new construction sector is impacting the performance.

The broker cut FY25/26/27 EPS forecasts by -8.7%/-14.5%/-12.3% respectively. Target price drops to $14.50 from $16.40. Neutral maintained.

Target price is $14.50 Current Price is $14.12 Difference: $0.38
If REH meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $16.41, suggesting upside of 13.8% (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

Morgans rates REH as Downgrade to Hold from Buy (3) -

Morgans cuts its target price for Reece to $14.80 from $18.70  and downgrades to Hold from Buy following a weak FY25 trading update and a subdued housing outlook in A&NZ and the US.

FY25 group earnings (EBIT) are guided at $548–558m, with the midpoint around -5% below Morgans’ forecast and -6% below consensus.

The broker lowers its FY25–27 earnings  forecasts by -5% to -7%, with second-half FY25 earnings expected to fall -35% year-on-year.

Ongoing softness in housing activity, persistent margin pressure, and rising competition, particularly in the US residential construction sector, are expected to weigh on profitability.

While Reece remains a quality business with a long-term growth track record, Morgans prefers to await further updates at the FY25 result on August 25 before reassessing its view.

Target price is $14.80 Current Price is $14.12 Difference: $0.68
If REH meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges).

Current consensus price target is $16.41, suggesting upside of 13.8% (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

Ord Minnett rates REH as Upgrade to Buy from Accumulate (1) -

Ord Minnett lowers its target for Reece by -$2.00 to $18.40 but upgrades to Buy from Accumulate, expecting returns to improve as the company moves through a cyclical low.

The broker notes FY25 earnings (EBIT) guidance of $548–$558m (midpoint: $553m) is -5% below its forecast and -6% under consensus, reflecting ongoing weakness in both A&NZ and US construction markets.

In A&NZ, volumes remain soft and interest rate cuts have yet to spur activity, while in the US, Reece's exposure to residential construction and heightened competition continue to weigh on performance, explains the broker.

Despite the downturn, the analysts highlight Reece is continuing to invest through the cycle, positioning the company well for a rebound in building activity.

A modest recovery is expected in A&NZ in FY26, with a more significant improvement anticipated in FY27. 

Target price is $18.40 Current Price is $14.12 Difference: $4.28
If REH meets the Ord Minnett target it will return approximately 30% (excluding dividends, fees and charges).

Current consensus price target is $16.41, suggesting upside of 13.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: -0.2

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

UBS rates REH as Sell (5) -

Reece's trading update and FY25 guidance for earnings before interest and tax (EBIT) at $548–$558m brings the 2H25 outlook -12% below consensus forecasts, according to UBS.

Colmmentary highlights, due to ongoing challenges in both the Australian and New Zealand housing markets, the pressure is on for volumes and margins.

The company also pointed to a slowdown in US residential housing starts, citing higher mortgage rates and affordability headwinds.

The analyst has lowered the FY25 earnings estimate by -4% and FY26 by -19%. The target price is reduced to $13.50 from $17.70.

There is no change to the Sell rating, with the stock trading at a one-year forward price-to-earnings multiple that remains above its long-term average of 29x.

A more challenging and uncertain macro environment is expected to continue weighing on the stock, despite a year-to-date price decline of -37%.

Target price is $13.50 Current Price is $14.12 Difference: minus $0.62 (current price is over target).
If REH meets the UBS target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $16.41, suggesting upside of 13.8% (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

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

Macquarie has initiated coverage of Superloop with an Outperform rating and target price of $3.25.

The broker believes the company has strong growth potential in both the consumer business and in the wholesale "white label" business.

Growth in the consumer business is expected to come from households moving to higher-speed plans following the government's NBN speed and fibre upgrades.

The wholesale growth is expected to driven by the contract with Origin Energy ((ORG)). The broker forecasts 11.9% annual gross profit growth from FY25 to FY28 in the main consumer segment.   

The company's recent inclusion in the MSCI may provide a near-term tailwind for the stock, the broker highlights, with a significant tailwind possible over FY26 from inclusion in ASX200 index.

Target price is $3.25 Current Price is $2.98 Difference: $0.27
If SLC meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $2.96, suggesting downside of -2.0% (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

Ord Minnett rates TEA as Initiation of coverage with Buy (1) -

Ord Minnett initiates coverage on Tasmea with a Buy rating and a target price of $4.75. The broker forecasts a compound annual growth rate of 27% for revenue and 28% for EPS through FY24–FY28.

It's thought this outlook is supported by a strong management team with significant equity ownership and an incentivised staff base.

Tasmea, listed in April 2024, specialises in high-margin fixed plant maintenance services, particularly in remote locations, with mining and resources clients accounting for 60% of revenue.

The company operates via 24 decentralised, specialist subsidiaries, supported by a lean corporate arm, enabling focused service delivery and margin strength, explains the analyst.

Ord Minnett also points to a disciplined acquisition strategy targeting businesses worth $10–40m, with expectations for one to four bolt-on deals each year.

The broker views Tasmea’s structure and track record as strong foundations for sustained growth.

Target price is $4.75 Current Price is $3.75 Difference: $1
If TEA meets the Ord Minnett target it will return approximately 27% (excluding dividends, fees and charges).

Current consensus price target is $4.40, suggesting upside of 18.9% (ex-dividends)

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 WDS as Neutral (3) -

Macquarie's revised natural gas forecasts have resulted in an upgrade to 2025-26 forecasts, but downgrades to 2027-28 forecasts.

For Woodside Energy, the broker is now assuming spot gas exposure of 20-25% in 2027-28 as it expects the company to tighten its book in anticipation of oversupply.

EPS forecasts for both FY25 and FY26 lifted by 15%, but cut for FY27 and FY28 by -28% and -39%, respectively, on revised oil and LNG prices. The broker also cut the dividend yield forecast to -2%-3% over FY26-28 (on an 80% payout ratio).

Neutral. Target unchanged at $24.

Target price is $24.00 Current Price is $23.72 Difference: $0.28
If WDS meets the Macquarie target it will return approximately 1% (excluding dividends, fees and charges).

Current consensus price target is $24.97, suggesting upside of 5.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

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

Market Sentiment: 0.3

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

Bell Potter rates WOW as Hold (3) -

Bell Potter views the closure of MyDeal, a loss-making business, as a positive for Woolworths Group despite the cash closure and impairment charges, as it shows management is willing to realign away from non-core activities.

MyDeal was consolidated into Woolworths Marketplace in 2024 and generated earnings before interest and tax (EBIT) losses of -$36m in 1H25. Marketplace losses are expected to decline following the closure.

The associated impact on the analyst's forecast EPS is minor, with FY25 and FY26 estimates raised by 1%. No change to Hold rating. Target price lifts to $31.90 from $31.85.

Target price is $31.90 Current Price is $31.14 Difference: $0.76
If WOW meets the Bell Potter target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $33.04, suggesting upside of 6.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.4

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

Citi rates WOW as Neutral (3) -

Woolworths Group is closing its online marketplace MyDeal website by September, a move Citi flagged was likely. Closure costs are estimated to be -$90-100m cash plus a non-cash impairment of -$45m.

The broker expects the closure to result in lower losses for the MarketPlus and HealthyLife segments from FY26 due to an estimated -$20m contribution to the forecast loss of -$65m for FY25.

The analyst expects more announcements from the portfolio review. Neutral. Target price $33.

Target price is $33.00 Current Price is $31.14 Difference: $1.86
If WOW meets the Citi target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $33.04, suggesting upside of 6.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.4

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

UBS rates WOW as Neutral (3) -

The strategic review of Woolworths Group's portfolio, announced in 1H25, is viewed positively by UBS.

The closure of MyDeal and renewed focus on its marketplace offerings, Big W Market and Everyday Market, are part of the announced changes.

The analyst highlights the MyDeal acquisition has proven to be "unsound," so the closure is not unexpected. UBS would view any additional decisions that improve return on invested funds as positive.

There is no change to the Neutral rating and $32 target price. FY26 EPS forecast is tweaked higher.

Target price is $32.00 Current Price is $31.14 Difference: $0.86
If WOW meets the UBS target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $33.04, suggesting upside of 6.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.4

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