Australian Broker Call

Citi rates A2M as Downgrade to Sell from Buy (5) -

Given rising covid cases in China, Citi has reduced its forecasts for a2 Milk Co. A spike in omicron cases has resulted in a lockdown of key port city Shenzhen, delaying deliveries to customers. 

Coupled with falling cross border e-commerce channel prices, covid impacts have driven the broker to reduce net profit forecasts -4-5% through to FY24. 

The rating is downgraded to Sell from Buy and the target price decreases to $4.80 from $7.02.

Target price is $4.80 Current Price is $5.17 Difference: minus $0.37 (current price is over target).
If A2M meets the Citi target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $5.64, suggesting upside of 10.9% (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: -0.2

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

Macquarie rates AGL as No Rating (-1) -

An emerging electricity crisis is coming, Macquarie warns, as forward curves (NSW and Queensland) continue to lift pricing for FY23 and FY24, reflecting a variety of factors.

Most importantly, global coal and gas prices have risen significantly, and reliability of the coal fleet continues to decline. Overall, the broker has factored in $330m upside to AGL Energy's earnings.

The broker is currently restricted on making a recommendation or target.

Current Price is $8.03. Target price not assessed.

Current consensus price target is $8.07, suggesting downside of -2.1% (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

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

Morgans expects wholesale market conditions for electricity and gas to result in strong earnings for AGL Energy in FY24-25, and upgrades its rating to Add from Hold. The target price rises to $8.83 from $7.24.

Electricity prices are currently rallying and winter futures prices are also rising given tight conditions in the spot coal market, explains the analyst. Meanwhile, domestic gas prices are also starting to rally with Victorian 2023 gas futures lifting.

Target price is $8.83 Current Price is $8.03 Difference: $0.8
If AGL meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges).

Current consensus price target is $8.07, suggesting downside of -2.1% (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 ALD as Initiation of coverage with Buy (1) -

In Ord Minnett’s view, Ampol and Viva Energy Group offer compelling near to medium term value propositions despite there being understandable concerns about the long-term prospects for both.

Transport fuels power more than just petrol vehicles, the broker notes. Diesel-powered cars are gaining share, while industrial applications and jet fuel are significantly more difficult to substitute.

Ord Minnett "initiates" coverage of Ampol (last update April 21) with a Buy rating and $36.70 target. Between the two, the broker prefers Ampol.

Target price is $36.70 Current Price is $30.40 Difference: $6.3
If ALD meets the Ord Minnett target it will return approximately 21% (excluding dividends, fees and charges).

Current consensus price target is $34.16, suggesting upside of 9.2% (ex-dividends)

The company's fiscal year ends in December.

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

Credit Suisse rates APM as Outperform (1) -

Further detail on the Workforce Australia (NESM) contract wins has cemented APM Human Services International as the key market leader with 11% of total contracts. Credit Suisse notes the second largest contract winner was awarded 4% of market share. 

The broker notes while APM Human Services International lost some key contracts in the Sydney and Perth employment regions, these are likely offset by wins in metropolitan Melbourne, and largely finds the Workforce Australia revenue stream to have been de-risked.

The Outperform rating and target price of $4.20 are retained.

Target price is $4.20 Current Price is $3.23 Difference: $0.97
If APM meets the Credit Suisse target it will return approximately 30% (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 CPU as Lighten (4) -

Ord Minnett has increased its bond yield assumption for Computershare valuation by 100 basis points above its December assumption.

The broker has explored two scenarios for potential upside to margin income, with one scenario based roughly on guidance, and the other, more realistic in the broker's view, allowing for partial offsets from the normalisation of elevated balances plus some competition on non-margin income earnings.

Target rises to $23.67 from $20.60, Lighten retained.

Target price is $23.67 Current Price is $24.88 Difference: minus $1.21 (current price is over target).
If CPU meets the Ord Minnett target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $23.92, suggesting downside of -4.8% (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: 0.3

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

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

Gold Road has made a unanimously recommended all scrip offer for DGO Gold ((DGO)) valued at $299m. Comparing the miner's stakes in De Grey Mining ((DEG)), Dacian Gold ((DCN)) and Yandal Resources ((YRL)), Macquarie values DGO at $395m.

The offer thus represents a 10% premium on DGOs' last price but a -24% discount on net asset value as far as the broker is concerned.

Target rises to $1.80 from $1.70, upgrade to Outperform from Neutral.

Target price is $1.80 Current Price is $1.62 Difference: $0.18
If GOR meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges).

Current consensus price target is $1.80, suggesting upside of 14.6% (ex-dividends)

The company's fiscal year ends in December.

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 GOR as Buy (1) -

Gold Road Resources has made an off-market takeover offer for DGO Gold ((DGO)). A 14.4% holding in De Grey Mining ((DEG)) is DGO Gold's main asset as it owns the 9moz Mallina gold project in Western Australia.

The broker highlights the scarcity and value that Mallina presents and a successful completion of the takeover would give Gold Road Resources a say in De Grey Mining's future.

The Buy rating and $2.00 target is maintained.

Target price is $2.00 Current Price is $1.62 Difference: $0.38
If GOR meets the UBS target it will return approximately 23% (excluding dividends, fees and charges).

Current consensus price target is $1.80, suggesting upside of 14.6% (ex-dividends)

The company's fiscal year ends in December.

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

Citi rates HUB as Buy (1) -

Given a rebound in markets since the first half result, with the ASX-300 up 3%, as well as heightened volatility caused by European geopolitical tensions, rising rates, and the threat of rising covid cases, Citi adjusts forecasts for domestic small cap wealth platforms. 

Hub24's flow forecast declines to $13.0bn from a previous $13.7bn, driving a -1% decline to the full year net profit forecast. 

The Buy rating is retained and the target price decreases to $31.50 from $32.80.

Target price is $31.50 Current Price is $26.47 Difference: $5.03
If HUB meets the Citi target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $33.97, suggesting upside of 25.6% (ex-dividends)

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

Citi rates ILU as Neutral (3) -

Citi was surprised by Iluka Resources announcement of a $1.05bn funding provision from the Australian government for its now green-lit Eneabba rare earths refinery, with the Eneabba monazite stockpile, valued at $1.27bn, securing the loan. 

The broker notes capital expenditure for the refinery is estimated at -$1-1.2bn, with first production expected in 2025 and building up to full production capacity over two years. The Eneabba stockpile is expected to support a nine year life. 

The Neutral rating and target price of $10.50 are retained.

Target price is $10.50 Current Price is $12.22 Difference: minus $1.72 (current price is over target).
If ILU meets the Citi target it will return approximately minus 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $11.25, suggesting downside of -9.3% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.2

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

Credit Suisse rates ILU as Upgrade to Neutral from Underperform (3) -

Iluka Resources has chosen to approve the Eneabba rare earth element refinery, in what Credit Suisse has described as a high-risk option given experience in the separation of rare earth elements is scarce outside of China.

Refinery capacity will exceed Eneabba's requirements, and while the company hopes to treat third party concentrate the broker sees approval as a nod to the Wimmera resource. A $1,250m loan from the Australian government will facilitate the refinery. 

Credit Suisse commends the company for aiming high, noting optimistic modeling could offer a higher valuation. The rating is upgraded to Neutral from Underperform and the target price increases to $13.00 from $9.00.

Target price is $13.00 Current Price is $12.22 Difference: $0.78
If ILU meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $11.25, suggesting downside of -9.3% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.2

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

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

In what Morgan Stanley describes as a good outcome, the Australian government will provide a $1,050m (plus $200m overrun facility) non-recourse loan to Iluka Resources to help fund the Eneabba refinery.

The broker estimates there's significant potential to add value by extending life at the refinery. The Equal-weight rating and $9.75 target are retained. Industry view: Attractive.

Target price is $9.75 Current Price is $12.22 Difference: minus $2.47 (current price is over target).
If ILU meets the Morgan Stanley target it will return approximately minus 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $11.25, suggesting downside of -9.3% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.2

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

Macquarie rates MP1 as Outperform (1) -

In response to market concerns over Megaport's pay-a-you-go model, Macquarie suggests the company has a competitive advantage in being a first mover with network reach, pricing and agility which is difficult to replicate.

The Secure Access Service Edge (SASE) evolution and computation redistribution are key trends to drive complimentary growth in Megaport's offerings, the broker notes.

While lowering its target to $20 from $21 on a higher risk-free rate assumption, the broker retains Outperform and its preference for Megaport in the sector.

Target price is $20.00 Current Price is $14.02 Difference: $5.98
If MP1 meets the Macquarie target it will return approximately 43% (excluding dividends, fees and charges).

Current consensus price target is $18.29, suggesting upside of 29.8% (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

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

Given a rebound in markets since the first half result, with the ASX-300 up 3%, as well as heightened volatility caused by European geopolitical tensions, rising rates, and the threat of rising covid cases, Citi adjusts forecasts for domestic small cap wealth platforms. 

Hub24's flow forecast declines to $14.3bn from a previous $14.8bn, driving a -1% decline to the full year net profit forecast. 

The rating is downgraded to Neutral from Buy and the target price decreases to $15.20 from $15.25.

Target price is $15.20 Current Price is $14.67 Difference: $0.53
If NWL meets the Citi target it will return approximately 4% (excluding dividends, fees and charges).

Current consensus price target is $16.13, suggesting upside of 13.7% (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

Macquarie rates PAN as Outperform (1) -

Panaramic Resources has completed a third shipment from Savannah which will be reflected in June quarter numbers, Macquarie notes. The price received is 42% higher than that of the second shipment.

The miner expects two more shipments in the quarter and receipts will help alleviate its near term funding pressure, the broker points out.

Were the broker to input current copper spot prices into valuation, earnings upside would be 150% in FY23-24. Outperform and 40c target retained.

Target price is $0.40 Current Price is $0.33 Difference: $0.07
If PAN meets the Macquarie target it will return approximately 21% (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

Morgans rates PAN as Add (1) -

Morgans lifts its target price for Panoramic Resources to $0.39 from $0.29. This increase follows strong recent commoditiy prices and the third concentrate shipment of nickel since resumption of operations at the Savannah mine.

The broker has a bullish view for nickel in the medium term, and Panoramic Resources is its preferred nickel exposure. The Add rating is maintained.

Target price is $0.39 Current Price is $0.33 Difference: $0.06
If PAN meets the Morgans target it will return approximately 18% (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

Morgan Stanley rates PDL as Overweight (1) -

Morgan Stanley feels investors may question aspects of Perpetual's ((PPT)) scrip and cash bid for Pendal Group at $6.23/share. In Australia, there is some overlap in funds though Perpetual has more of a value-style tilt.

Meanwhile, in the US, Perpetual's Barrow Hanley business and Pendal Group's Thompson, Siegal & Walmsley business are both value-focused, points out the analyst.

The Overweight rating and $7.00 target price are retained. Industry view is In-Line.

Target price is $7.00 Current Price is $5.29 Difference: $1.71
If PDL meets the Morgan Stanley target it will return approximately 32% (excluding dividends, fees and charges).

Current consensus price target is $6.58, suggesting upside of 22.4% (ex-dividends)

The company's fiscal year ends in September.

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

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

Morgans sees merit in the non-binding indicative merger offer from Perpetual Limited ((PPT)) at $6.23/share. Benefits are expected from significant cost synergies and the ability to leverage scale in offshore markets.

The broker believes there is potential for the offer price to be improved though downgrades its rating to Hold from Add. Should the merger lapse, there is considered to be better risk/reward elsewhere in the sector. The $5.65 target price is maintained.

Target price is $5.65 Current Price is $5.29 Difference: $0.36
If PDL meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $6.58, suggesting upside of 22.4% (ex-dividends)

The company's fiscal year ends in September.

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 PDL as Buy (1) -

Perpetual has said the proposal to acquire Pendal Group aligns with its strategy to grow its business globally and saw it as being financially compelling, given a commitment to M&A growth by acquiring complementary capabilities, Ord Minnett notes.

The broker believes Perpetual may be seeking to capitalise on a significant de-rating in Pendal relative to Perpetual, possibly reflecting Pendal’s recent flows and market pressures which have not been as apparent for Perpetual.

The offer is a significant premium to Pendal’s latest closing price, although in the broker's view it doesn’t offer Pendal shareholders much in the way of a premium versus peers. For Perpetual, the broker estimates the deal would be accretive, assuming the cash payment would be funded through debt as well as synergy benefits.

Buy rating retained for Pendal, target rises to $5.75 from $5.50.

Target price is $5.75 Current Price is $5.29 Difference: $0.46
If PDL meets the Ord Minnett target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $6.58, suggesting upside of 22.4% (ex-dividends)

The company's fiscal year ends in September.

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

UBS rates PDL as Buy (1) -

UBS believes the conditional, non-binding proposal for Pendal Group by Perpetual ((PPT)) at $6.23/share is opportunistic given the deep valuation discount at which Pendal has been trading.

The broker believes there's some scope for the offer to move higher and the Pendal board is unlikely to accept the current offer. The Buy rating and $7.20 target are retained.

Target price is $7.20 Current Price is $5.29 Difference: $1.91
If PDL meets the UBS target it will return approximately 36% (excluding dividends, fees and charges).

Current consensus price target is $6.58, suggesting upside of 22.4% (ex-dividends)

The company's fiscal year ends in September.

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

Macquarie rates PPM as Outperform (1) -

Pepper Money has announced the acquisition of 65% of Stratton Finance via cash and debt drawdown. While small relative to the broader group, the transaction should diversify Pepper’s earnings and lead to earnings upgrades, Macquarie suggests.

The benefit, nevertheless, is offset by potential regulatory and integration risks, the broker warns.

Macquarie sees valuation as undemanding, with funding cost upside risk priced in, and retains Pepper Money as its preferred pick in the non-bank space. Outperform and $2.80 target unchanged.

Target price is $2.80 Current Price is $2.20 Difference: $0.6
If PPM meets the Macquarie target it will return approximately 27% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

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

Citi rates PPT as Buy (1) -

Perpetual's proposed merger with Pendal Group (PDL) seems to have caught the latter by surprise, but Citi considers the merger would likely be earnings per share accretive by as much as mid to high single digits.

The broker highlights Perpetual's $2.3bn proposal values Pendal Group's shares at $5.93, or around 12x FY22 and FY23 expected earnings. Citi looks to further detail on synergies to be derived from the deal beyond simply adding scale. 

The Buy rating and target price of $40.00 are retained.

Target price is $40.00 Current Price is $31.97 Difference: $8.03
If PPT meets the Citi target it will return approximately 25% (excluding dividends, fees and charges).

Current consensus price target is $39.61, suggesting upside of 22.6% (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

Morgan Stanley rates PPT as Overweight (1) -

Morgan Stanley believes Perpetual's indicative offer for Pendal Group ((PDL)) at $6.23 could result in a material increase in scale and earnings outside of Australia, and will potentially deliver around 15% EPS accretion.

The accretion estimate assumes the cash component of the offer is funded via debt, full synergies are attained and full funds under management (FUM) retained, explains the analyst.

It's noted Pendal’s earnings are more than 90% from offshore versus around 25% of Perpetual’s earnings.

Overweight. The target price for Perpetual is steady at $45. Industry view is In-Line. 

Target price is $45.00 Current Price is $31.97 Difference: $13.03
If PPT meets the Morgan Stanley target it will return approximately 41% (excluding dividends, fees and charges).

Current consensus price target is $39.61, suggesting upside of 22.6% (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 PPT as Accumulate (2) -

Perpetual has said the proposal to acquire Pendal Group aligns with its strategy to grow its business globally and saw it as being financially compelling, given a commitment to M&A growth by acquiring complementary capabilities, Ord Minnett notes.

The broker believes Perpetual may be seeking to capitalise on a significant de-rating in Pendal relative to Perpetual, possibly reflecting Pendal’s recent flows and market pressures which have not been as apparent for Perpetual.

The offer is a significant premium to Pendal’s latest closing price, although in the broker's view it doesn’t offer Pendal shareholders much in the way of a premium versus peers. For Perpetual, the broker estimates the deal would be accretive, assuming the cash payment would be funded through debt as well as synergy benefits.

Ord Minnett retains an Accumulate rating and $38 target for Perpetual.

Target price is $38.00 Current Price is $31.97 Difference: $6.03
If PPT meets the Ord Minnett target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $39.61, suggesting upside of 22.6% (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

UBS rates PPT as Neutral (3) -

UBS believes the conditional, non-binding proposal for Pendal Group ((PDL)) by Perpetual at $6.23/share is opportunistic given the deep valuation discount at which Pendal has been trading.

The broker believes there's some scope for the offer to move higher and the Pendal board is unlikely to accept the current offer.

The transaction would be  around 7% EPS accretive for Perpetual, according to the analyst, including $50m of pre-tax run-rate synergies. This calculation assumes the circa $600m cash component is funded via an equity raise.

The Neutral rating and $37.65 target are retained.

Target price is $37.65 Current Price is $31.97 Difference: $5.68
If PPT meets the UBS target it will return approximately 18% (excluding dividends, fees and charges).

Current consensus price target is $39.61, suggesting upside of 22.6% (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

Citi rates RWC as Initiation of coverage with Sell (5) -

While Reliance Worldwide has suffered a -30% share price decline since the start of the year, Citi initiates on the company with a positive view of its longer-term outlook.

The broker considers there to be opportunity in growing with key US customers as they capture increased share, and expects the company can sustain above market, capital light growth for multiple years by leveraging off the expenditure invested by customers. 

The broker initiates with a Sell rating and a target price of $4.00 as, short-term, it appears management is facing a number of headwinds that need to be conquered first.

Target price is $4.00 Current Price is $4.26 Difference: minus $0.26 (current price is over target).
If RWC 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 $5.78, suggesting upside of 38.2% (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: 0.4

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

Ord Minnett rates TYR as Buy (1) -

Transaction volume for Tyro Payments increased 39% year on year in March to a record level, Ord Minnett notes, despite the weather on the east coast.

Government restrictions and public concerns around the omicron variant continue to subside, which the broker suggests provides a favourable backdrop for continued recovery across Tyro’s key retail and hospitality verticals.

Buy and $3.00 target retained.

Target price is $3.00 Current Price is $1.68 Difference: $1.32
If TYR meets the Ord Minnett target it will return approximately 79% (excluding dividends, fees and charges).

Current consensus price target is $2.97, suggesting upside of 73.5% (ex-dividends)

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 VEA as Initiation of coverage with Buy (1) -

In Ord Minnett’s view, Ampol and Viva Energy Group offer compelling near to medium term value propositions despite there being understandable concerns about the long-term prospects for both.

Transport fuels power more than just petrol vehicles, the broker notes. Diesel-powered cars are gaining share, while industrial applications and jet fuel are significantly more difficult to substitute.

Ord Minnett "initiates" coverage of Viva Energy (last update Feb 21) with a Buy rating and $2.75 target. Between the two, the broker prefers Ampol.

Target price is $2.75 Current Price is $2.36 Difference: $0.39
If VEA meets the Ord Minnett target it will return approximately 17% (excluding dividends, fees and charges).

Current consensus price target is $2.69, suggesting upside of 10.6% (ex-dividends)

The company's fiscal year ends in December.

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