Australian Broker Call

Ord Minnett rates AEL as Buy (1) -

Ord Minnett updates forecasts for electricity prices, natural gas and sustainability credits.

Recent weakness in the east coast markets has continued in the June quarter while natural gas markets have also softened materially.

Amplitude Energy is considered somewhat protected, given largely contracted pricing.

The company's "solid" fourth quarter should mean it delivers at the mid-point of upgraded guidance, the broker adds. Buy rating. Target is reduced to $2.60 from $2.90.

Target price is $2.60 Current Price is $1.32 Difference: $1.28
If AEL meets the Ord Minnett target it will return approximately 97% (excluding dividends, fees and charges).

Current consensus price target is $2.66, suggesting upside of 97.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 1.0

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

Citi rates AMP as Buy (1) -

Citi upgrades its earnings forecasts across most diversified financials under coverage after stronger global equity markets and tighter credit spreads boosted mark-to-market valuations.

The analysts believe AMP is prioritising margins over loan growth, with recent APRA data showing its housing lending continues to lag system growth.

The broker also notes growing adviser support for the North platform and sees scope for further share buybacks, upside to consensus earnings and a greater focus on improving bank capital efficiency.

Citi retains a Buy rating and $1.80 target.

Target price is $1.80 Current Price is $1.69 Difference: $0.115
If AMP meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $1.82, suggesting upside of 6.8% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.8

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

Macquarie rates BVS as Neutral (3) -

Bravura Solutions has updated FY26 guidance, expecting cash EBITDA of $77m, an upgrade of 8%. The upgrade was underpinned by cost discipline and demand for project services, Macquarie observes. Management has reaffirmed a revenue range of $280-285m.

The strong demand for project services reaffirms the strategy that is focused on growing existing customers through increased professional services and product enhancements, the broker adds.

The update was strong yet Macquarie continues to find a lack of visibility on potential new work across regions, and the ability for management to make further cost reductions to improve margins.

Neutral retained. Target rises to $2.34 from $2.28. The company will report its results on August 12.

Target price is $2.34 Current Price is $2.23 Difference: $0.11
If BVS meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.0

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

Citi rates CGF as Buy (1) -

Citi upgrades its earnings forecasts across most diversified financials under coverage after stronger global equity markets and tighter credit spreads boosted mark-to-market valuations.

The analysts make only minor changes to Challenger's FY26 earnings forecasts, with stronger fixed income returns largely offset by weaker alternative assets, property and equities.

Looking ahead, the broker lifts its earnings forecasts to reflect recently launched products and lower dilution from capital notes.

Uncertainty surrounding an upcoming change to the company's earnings reporting basis is noted.

Buy. Target $10.

Target price is $10.00 Current Price is $10.56 Difference: minus $0.56 (current price is over target).
If CGF meets the Citi target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $10.17, suggesting downside of -3.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.6

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

Macquarie rates CHI as Outperform (1) -

Channel Infrastructure has agreed to sell and remove the decommissioned CCR Platformer unit for US$5.95m in net proceeds. Macquarie considers this a modest positive financially but more importantly highlights the momentum in the Seadra project, which now includes fertiliser.

The proposed Marsden Point facility would produce biodiesel, SAF, urea and other fertilisers from biogenic feedstocks. The broker's view is that the facility is evolving from a legacy refining site to a strategic energy and industrial precinct. Outperform rating and NZ$3.38 target.

Current Price is $2.63. Target price not assessed.

The company's fiscal year ends in December.

Forecast for FY26:

Forecast for FY27:

This company reports in NZD. 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

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

Citi upgrades its earnings forecasts across most diversified financials under coverage after stronger global equity markets and tighter credit spreads boosted mark-to-market valuations.

The broker downgrades Computershare to Neutral from Buy after a 30% share price rally, citing a more balanced risk-reward despite unchanged earnings forecasts.

Commentary notes the company remains well positioned to benefit from a recovery in corporate activity, increased debt issuance and higher US interest rates. It's thought disruption from tokenisation will likely emerge only gradually.

The broker's target for Computershare rises to $40.00 from $38.60.

Target price is $40.00 Current Price is $39.74 Difference: $0.26
If CPU meets the Citi target it will return approximately 1% (excluding dividends, fees and charges).

Current consensus price target is $37.06, suggesting downside of -5.8% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

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

Macquarie rates DXI as Outperform (1) -

Macquarie reviews the June quarter commercial property data, noting market fundamentals for industrial remain soft.

Incentives continue to rise in Sydney and Brisbane, weighing on effective rent growth.

Global uncertainty is also expected to delay future relocation decisions. The broker's preference is for Dexus Industria REIT and an Outperform rating and $2.83 target are maintained.

Target price is $2.83 Current Price is $2.44 Difference: $0.39
If DXI meets the Macquarie target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $2.76, suggesting upside of 13.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.7

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

Macquarie rates DXS as Outperform (1) -

Macquarie reviews second quarter commercial property data, noting national net office absorption was negative albeit positive in major city CBDs.

The broker's preference in office remains with the core CBD precincts where underlying fundamentals appear most favourable and in which Dexus has key exposure. Outperform rating and $7.06 target.

Target price is $7.06 Current Price is $5.66 Difference: $1.4
If DXS meets the Macquarie target it will return approximately 25% (excluding dividends, fees and charges).

Current consensus price target is $6.77, suggesting upside of 20.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.0

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

Morgans rates EIQ as Speculative Buy (1) -

Morgans highlights EchoIQ has de-risked its profile post initiation of coverage through a placement at $1.45 per share, raising $110m, alongside a new distribution partnership with Pro Medicus ((PME)).

The partnership facilitates access to Pro Medicus' installed base across the US hospital network, which represents a significant upgrade from EchoIQ's existing distribution channels.

The analyst points out an overhang has been removed via the equity capital raising and probably represents an "over raising" but offers some optionality around R&D spend.

Tardiness in the FDA approval remains as an overhang but is evident across FDA industry "slowness" the broker explains. The delays are not viewed as indication of a lower chance of approval.

A Speculative Buy rating is retained with a higher target price of $1.85, up from $1.30, previously.

Target price is $1.85 Current Price is $1.62 Difference: $0.235
If EIQ meets the Morgans target it will return approximately 15% (excluding dividends, fees and charges).

Current consensus price target is $1.87, suggesting upside of 22.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.7

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

Macquarie rates FPR as Outperform (1) -

Macquarie flags the highlight from FleetPartners Group's June quarter update was the novated new business growth of 45%-50% which includes the impact of the Remunerator acquisition from early December 2025.

End-of-lease volume declined -31% in the third quarter as management responded to a softer used vehicle market.

The broker considers the stock is trading at an undemanding multiple and retains an Outperform rating. Target rises to $3.43 from $3.41.

Target price is $3.43 Current Price is $2.95 Difference: $0.48
If FPR meets the Macquarie target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $3.44, suggesting upside of 17.9% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 1.0

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

Bell Potter rates FRS as Speculative Buy (1) -

Bell Potter views Forrestania Resources' proposed -$300m acquisition of Ramelius Resources' ((RRL)) Edna May Gold Hub as transformational. A dual-processing hub with combined milling capacity of 6.1Mtpa will be created as a result.

The broker believes the enlarged group has a credible pathway to producing more than 200,000 ounces of gold annually within 12-18 months.

The analysts also consider the acquisition attractive, with existing infrastructure effectively underpinning the purchase price.

A Speculative Buy rating is retained, with a target of $1.25, up from $1.15.

Target price is $1.25 Current Price is $0.38 Difference: $0.87
If FRS meets the Bell Potter target it will return approximately 229% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 1.0

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

Citi rates GDG as Buy (1) -

Citi upgrades its earnings forecasts across most diversified financials under coverage after stronger global equity markets and tighter credit spreads boosted mark-to-market valuations.

The analysts trim their FY26 earnings forecast for Generation Development by around -1%. FY27-FY28 forecasts are also lowered by about -10% after removing most assumed mandate wins to better reflect underlying fund flows.

While the broker views the company as higher risk than more mature peers, it believes Generation Development remains well placed to benefit from strong growth in managed accounts.

Citi retains a Buy rating but lowers its target to $5.50 from $6.40.

Target price is $5.50 Current Price is $3.72 Difference: $1.78
If GDG meets the Citi target it will return approximately 48% (excluding dividends, fees and charges).

Current consensus price target is $6.05, suggesting upside of 68.4% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 1.0

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

Citi rates GMD as Buy (1) -

Citi views Regis Resources' decision to withdraw from the race for Vault Minerals ((VAU)) as disciplined, leaving Genesis Minerals with a clear path to complete the acquisition.

The broker believes the Genesis bid offers unique operational synergies, particularly through the proximity of Tower Hill to the King of the Hills mill, which Regis could not replicate.

For Genesis Minerals: Buy rating and $10 target.

Target price is $10.00 Current Price is $5.88 Difference: $4.12
If GMD meets the Citi target it will return approximately 70% (excluding dividends, fees and charges).

Current consensus price target is $9.26, suggesting upside of 54.8% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 1.0

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

Macquarie rates GQG as Neutral (3) -

GQG Partners reported net outflows for June of -$3.2bn, with international and emerging segments experiencing the strongest outflows. Funds under management of $156bn were slightly below Macquarie's estimates and EPS forecasts are downgraded marginally.

Given long-term fund performance remains below benchmarks for most funds, the broker remains cautious regarding outer year flows and reiterates a Neutral rating. Target is reduced to $1.35 from $1.40.

Target price is $1.35 Current Price is $1.44 Difference: minus $0.085 (current price is over target).
If GQG meets the Macquarie target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $1.81, suggesting upside of 28.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY26:

Forecast for FY27:

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

Market Sentiment: 0.5

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

Macquarie rates HDN as Neutral (3) -

Macquarie reviews the June quarter commercial property data, noting market rent growth in retail improved. The analysts expect a cyclical slowdown will be realised in FY27 as household expenditure growth is expected to slow to 1.5%.

The sector is seen as fully valued with HomeCo Daily Needs REIT retaining a Neutral rating and $1.24 target.

Target price is $1.24 Current Price is $1.28 Difference: minus $0.04 (current price is over target).
If HDN meets the Macquarie target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $1.33, suggesting upside of 5.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.2

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

Ord Minnett rates LGI as Buy (1) -

Ord Minnett updates forecasts for electricity prices, natural gas and sustainability credits. Recent weakness in the east coast markets has continued in the June quarter while natural gas markets have also softened materially.

LGI is considered somewhat protected given it is hedged and diversified. Buy rating maintained. Target is reduced to $4.30 from $4.40.

Target price is $4.30 Current Price is $2.66 Difference: $1.64
If LGI meets the Ord Minnett target it will return approximately 62% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 1.0

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

Ord Minnett rates LLC as Hold (3) -

Ahead of the FY26 results from Lendlease Group on  August 17, Ord Minnett trims estimates from the investments, development and construction division albeit still in line with guidance. The broker's forecast loss in the capital release unit has increased significantly because of higher gearing.

Beyond that Ord Minnett forecasts a strong rise in earnings in the division in FY27, driven by settlement of the One Circular Quay project as well as a wider construction margin and better performance from funds management.

The assumption of a $500m share buyback has also been removed from modelling. Hold rating maintained, given the uncertainty around further asset sales and business performance. Target is raised to $3.20 from $2.85.

Target price is $3.20 Current Price is $2.99 Difference: $0.21
If LLC meets the Ord Minnett target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $3.89, suggesting upside of 29.2% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.5

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

Citi rates LNW as Buy (1) -

Light & Wonder has reiterated its FY26 guidance for mid-high single digit consolidated earnings (EBITDA) growth with Citi forecasting 6.1% and consensus 5.7%.

Ahead of the 2Q2026 result on August 5, the analyst believes the guidance confirmation should alleviate some of the market's concerns as mirrored in the recent share price weakness.

Management also emphasised an ongoing commitment to deleveraging the balance sheet, the broker states. The target is to move towards the mid-point of its target net debt to Adj earnings (EBITDA) range of 2.5x-3.5x in FY26 and below 3x in 1H2027.

Citi reiterates its Buy rating with a $149 target price.

Target price is $149.00 Current Price is $103.35 Difference: $45.65
If LNW meets the Citi target it will return approximately 44% (excluding dividends, fees and charges).

Current consensus price target is $188.00, suggesting upside of 68.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY26:

Forecast for FY27:

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

Macquarie rates MGR as Outperform (1) -

Macquarie reviews second quarter commercial property data, noting national net office absorption was negative albeit positive in major city CBDs.

The broker's preference in office remains with the core CBD precincts where underlying fundamentals appear most favourable and in which Mirvac Group has key exposure. Outperform rating and $2.17 target.

Target price is $2.17 Current Price is $1.71 Difference: $0.465
If MGR meets the Macquarie target it will return approximately 27% (excluding dividends, fees and charges).

Current consensus price target is $2.01, suggesting upside of 18.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.5

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

Bell Potter rates OCC as Speculative Buy (1) -

Orthocell has reported record June-quarter revenue of $3.8m, up 36% year-on-year, although FY26 revenue missed Bell Potter's forecast by around -10%.

While US commercialisation of Remplir continued to expand through broader hospital access and surgeon adoption, repeat product utilisation remains in its early stages, the analysts highlight.

The broker lowers its revenue forecasts to reflect a more conservative product mix but remains positive on the medium-term outlook.

Commentary notes potential catalysts from stronger US sales, prostate data and UK/EU approvals.

Speculative Buy retained with a $1.19 target, down from $1.26.

Target price is $1.19 Current Price is $0.85 Difference: $0.34
If OCC meets the Bell Potter target it will return approximately 40% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

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 Neutral (3) -

Citi upgrades its earnings forecasts across most diversified financials under coverage after stronger global equity markets and tighter credit spreads boosted mark-to-market valuations.

The analysts at Citi lift their FY27 earnings forecasts for Perpetual by around 3%, reflecting stronger offshore equity markets and a stable Australian dollar against the US dollar.

While net fund outflows remain a headwind, the broker believes EQT's takeover offer for Perpetual should provide near-term support for the share price.

Neutral rated. Target $17.

Target price is $17.00 Current Price is $19.03 Difference: minus $2.03 (current price is over target).
If PPT meets the Citi target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $20.43, suggesting upside of 8.0% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.5

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

Macquarie rates RGN as Neutral (3) -

Macquarie reviews the June quarter commercial property data, noting market rent growth in retail improved. The analysts expect a cyclical slowdown will be realised in FY27 as household expenditure growth is expected to slow to 1.5%.

The sector is considered fully valued with Region Group retaining a Neutral rating and $2.16 target.

Target price is $2.16 Current Price is $2.37 Difference: minus $0.21 (current price is over target).
If RGN meets the Macquarie target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $2.46, suggesting upside of 4.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.4

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

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

Citi downgrades ResMed to Neutral from Buy and reduces its target to $34.00 from $38.50. This comes as the broker lowers its FY27 earnings forecasts to reflect a remediation program for certain Astral portable ventilators built before October 2024.

The broker estimates the issue will reduce FY27 revenue by around -US$220m and earnings (EBIT) by around -US$100m, cutting EPS growth expectations to 4% from 9%.

Citi also sees the potential return of competitor Philips to the US sleep apnoea market as a further headwind.

Target price is $34.00 Current Price is $28.57 Difference: $5.43
If RMD meets the Citi target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $39.73, suggesting upside of 39.6% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

This company reports in USD. 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

Citi rates RRL as Neutral (3) -

Citi views Regis Resources' decision to withdraw from the race for Vault Minerals ((VAU)) as disciplined, leaving Genesis Minerals with a clear path to complete the acquisition.

The broker believes the Genesis bid offers unique operational synergies, particularly through the proximity of Tower Hill to the King of the Hills mill, which Regis could not replicate.

Regis remains in a strong financial position, Citi suggests, with no debt, around $1.2bn in cash and bullion, and exposure to the McPhillamys, Duketon and Tropicana assets.

For Regis Resources: target $8.10; Neutral rating.

Target price is $8.10 Current Price is $6.46 Difference: $1.64
If RRL meets the Citi target it will return approximately 25% (excluding dividends, fees and charges).

Current consensus price target is $8.23, suggesting upside of 24.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.7

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

Macquarie rates SDF as Neutral (3) -

Macquarie notes weakness continued in the month of June for Steadfast Group across all products with the exception of workers' compensation.

The June quarter represents around 30.1% of annual gross written premium placed for commercial lines on the Sunrise platform and 27.5% of personal lines placed via the broker channel.

The main weakness was strata, the broker adds, down -12.1%.

Macquarie assesses the current share price now reflects a more balanced risk/reward. Neutral rating and $4.50 target retained.

Target price is $4.50 Current Price is $5.19 Difference: minus $0.69 (current price is over target).
If SDF meets the Macquarie target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $5.62, suggesting upside of 7.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.6

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

Citi rates SDR as Buy (1) -

Citi sees upside to SiteMinder's FY27 subscriber growth from its partnership with hotel management software provider Mews, which is scheduled to commence in August.

Under the agreement, SiteMinder will become Mews' integrated channel manager, replacing Mews' direct online travel agency connections.

Citi estimates if 10% of Mews' 12,000 properties not currently using SiteMinder adopt the platform, around 1,200 subscribers would be added in FY27.

Buy. Target $6.05.

Target price is $6.05 Current Price is $3.57 Difference: $2.48
If SDR meets the Citi target it will return approximately 69% (excluding dividends, fees and charges).

Current consensus price target is $6.40, suggesting upside of 75.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 1.0

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

Macquarie rates SKT as Outperform (1) -

SKY Network Television is moving to a cash generating NZ video aggregator and away from legacy pay-TV. Macquarie believes the stock is being mispriced as a declining satellite TV operator as it becomes an aggregator of scarce sport, streaming and BVOD options.

Premium sport remains its anchor, supporting subscriber retention. The broker considers FY27 will be the "proof year", expecting Sky Free synergies and disciplined programming expenditure.

EBITDA is expected to rise to NZ$177m in FY28. Target is raised to NZ$3.90 from NZ$3.56. Outperform.

Current Price is $2.79. Target price not assessed.

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

This company reports in NZD. 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

Bell Potter rates SKY as Speculative Buy (1) -

Bell Potter believes Sky Metals has significantly de-risked its Tallebung tin-silver-tungsten project after a major resource upgrade. Contained tin rose by 61%, tungsten by 153% and a maiden silver resource was established.

The enlarged resource will underpin a pre-feasibility study (PFS) due later this month, with the broker expecting a low-capital open-pit development.

The analysts also highlight strong tin and tungsten prices and ongoing exploration upside.

The target rises to 35c from 30c and the Speculative Buy rating is maintained.

Target price is $0.35 Current Price is $0.26 Difference: $0.095
If SKY meets the Bell Potter target it will return approximately 37% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 1.0

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

Macquarie rates VCX as Neutral (3) -

Macquarie reviews the June quarter commercial property data, noting market rent growth in retail improved. The analysts expect a cyclical slowdown will be realised in FY27 as household expenditure growth is expected to slow to 1.5%.

The sector is seen as fully valued with Vicinity Centres retaining a Neutral rating and $2.30 target.

Target price is $2.30 Current Price is $2.65 Difference: minus $0.35 (current price is over target).
If VCX meets the Macquarie target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $2.56, suggesting downside of -1.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.0

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