Australian Broker Call

Macquarie rates ALQ as Outperform (1) -

Macquarie notes ALS continues to do well with a strong update highlighting the improvement in the commodities business and resilience in the life sciences segment. This is in stark contrast to the earnings hit experienced by companies like Orica ((ORI)) and Worley ((WOR)).

The broker notes ALS's share price has been weak owing to a softer gold price and the impact of covid on emerging markets. Even so, looking at the latest update, the broker remains positive.

Outperform retained. Target falls to $10.55 from $10.65.

Target price is $10.55 Current Price is $9.55 Difference: $1
If ALQ meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).

Current consensus price target is $10.18, suggesting upside of 7.2% (ex-dividends)

The company's fiscal year ends in March.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.6

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

Ord Minnett rates ALQ as Upgrade to Hold from Lighten (3) -

Ord Minnett notes the highlights of ALS Ltd's latest update were a recovery in geochemistry sample flows and the acquisition of Investiga, a Brazilian pharmaceutical testing business.

An improvement in the geochemistry outlook and the ongoing global vaccination rollout has led to the broker upgrading the rating to Hold from Lighten. The target lifts to $9.80 from $8.60.

Target price is $9.80 Current Price is $9.55 Difference: $0.25
If ALQ meets the Ord Minnett target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $10.18, suggesting upside of 7.2% (ex-dividends)

The company's fiscal year ends in March.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.6

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

UBS rates ALQ as Neutral (3) -

ALS Ltd will acquire Investiga, a pharmaceutical testing company based in the Americas. The company also indicated trading has been resilient over the third and fourth quarters.

UBS is encouraged by the ongoing recovery in geochemistry testing and the increased global exploration activity provides a supportive backdrop.

The broker retains a Neutral rating and $9.90 target and believes the stock adequately prices in the global improvement.

Target price is $9.90 Current Price is $9.55 Difference: $0.35
If ALQ meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).

Current consensus price target is $10.18, suggesting upside of 7.2% (ex-dividends)

The company's fiscal year ends in March.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.6

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

Ord Minnett rates AVN as Initiation of coverage with Hold (3) -

Ord Minnett initiates coverage on Aventus Group with a Hold rating and a $2.76 target price.

Aventus Group is one of the largest owners of large format retail centres across Australia and has benefited from the booming housing market, observes Ord Minnett.

The group's household goods tenants, forming 63% of total income, experienced strong sales in 2020 which has translated into higher foot traffic, positive leasing spreads and higher occupancy.

While the housing market has started 2021 on a strong note, Ord Minnett believes the upside has already been priced into Aventus's share price.

Target price is $2.76 Current Price is $2.82 Difference: minus $0.06 (current price is over target).
If AVN 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 $2.87, suggesting upside of 3.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.6

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

Macquarie rates BHP as Outperform (1) -

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. The improved copper price outlook drives 6-11% upgrades to earnings for BHP Group for FY22-FY25.

Outperform rating with the target rising to $55 from $50.

Target price is $55.00 Current Price is $49.38 Difference: $5.62
If BHP meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges).

Current consensus price target is $47.89, suggesting downside of -2.2% (ex-dividends)

The company's fiscal year ends in June.

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: 0.6

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

Morgan Stanley rates BLD as Overweight (1) -

Morgan Stanley envisages potential for increased expenditure on infrastructure in North America. If this occurs, the fly ash business should be a material beneficiary.

The broker expects any increase in demand for cement will be at least matched by fly ash. Assuming the current cement/fly ash pricing ratio remains constant, the broker's bull case assumes fly ash pricing increases 30% or more by 2028.

This would allow Boral to lift both volumes and deliver attractive returns for the business. Overweight rating with a target of $6.10. Industry view is in-line.

Target price is $6.10 Current Price is $5.36 Difference: $0.74
If BLD meets the Morgan Stanley target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $5.47, suggesting downside of -0.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.6

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

Citi rates BWX as Buy (1) -

Citi observes the removal of the animal testing requirement for imported cosmetics is likely to open up the off-line distribution channel in China, which to date has been off-limits for BWX Ltd.

This should provide new distribution opportunities, provided the company can secure a good manufacturing practice certificate. The animal test rule will be waived from May 1 2021. Nevertheless, a local partnership may be required to help with distribution and marketing.

City retains a Buy rating and $5.35 target and believes the company also has significant distribution opportunities in existing markets.

Target price is $5.35 Current Price is $4.50 Difference: $0.85
If BWX meets the Citi target it will return approximately 19% (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

Citi rates CGC as Neutral (3) -

Costa Group will acquire KW Orchards, expanding Victorian citrus. This complements existing assets and should generate synergies, Citi observes.

The broker expects a modest operating earnings contribution of $4-5m initially and believes the company is showing discipline, concentrating on those segments where it can build scale, using technology to improve yields and margins.

Citi retains a Neutral rating and $4.90 target.

Target price is $4.90 Current Price is $4.55 Difference: $0.35
If CGC meets the Citi target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $4.81, suggesting upside of 4.5% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.3

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

Macquarie rates CHN as Outperform (1) -

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. The improved copper price outlook drives a target price rise for Chalice Gold Mines to $5.50 from $5.40.

Outperform rating.

Target price is $5.50 Current Price is $4.13 Difference: $1.37
If CHN meets the Macquarie target it will return approximately 33% (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

UBS rates CIP as Buy (1) -

UBS calculates there is a enough debt capacity to fund future acquisitions and retain the 30-40% target gearing range and notes press reports that Centuria Industrial use looking to sell the Warnervale asset at a 50% premium to book value.

If book values increase by 15%, the A-REIT can fund via debt around $440m in new assets and maintain gearing at 35%, the broker adds. UBS retains a Buy rating and raises the target to $3.54 from $3.38.

Target price is $3.54 Current Price is $3.01 Difference: $0.53
If CIP meets the UBS target it will return approximately 18% (excluding dividends, fees and charges).

Current consensus price target is $3.49, suggesting upside of 17.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.5

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

UBS rates COH as Sell (5) -

UBS notes the cochlear implant clinics are learning to adjust to a pandemic-affected world and the recent results indicate the loss of deferred surgery is minimal.

The company also appears to have gained share, particularly in the US, following a competitor recall. Still, the recent share price fall has not been enough for the broker and UBS retains a Sell rating and a $185 target.

Target price is $185.00 Current Price is $200.31 Difference: minus $15.31 (current price is over target).
If COH 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 $214.87, suggesting upside of 5.8% (ex-dividends)

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

Ord Minnett rates CQR as Accumulate (2) -

From white-labelling JP Morgan's research on Charter Hall Retail REIT, Ord Minnett now initiates coverage on the stock in-house with an Accumulate rating and $3.97 target price.

The broker highlights the REIT benefits from its focus on convenience retailers with all of Charter Hall's shopping centres anchored by at least one supermarket. Notably, these supermarkets performed well in 2020 led by an increase in local shoppers, adds the broker.

Ord Minnett also believes tenant demand will remain solid for neighbourhood centres driven by low occupancy costs and a rise in localised spending.

Target price is $3.97 Current Price is $3.67 Difference: $0.3
If CQR meets the Ord Minnett target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $3.70, suggesting upside of 0.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.3

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

UBS rates DRR as Buy (1) -

UBS updates its modelling after the first half result. The main royalty is the MAC royalty while more details regarding other operating royalties signal a contribution of $562,000 in the first half.

The company is committed to expanding and diversifying this portfolio. Opportunities for expansion are expected to lie with bulks in Australia rather than precious metals. Buy rating and $5.05 target retained.

Target price is $5.05 Current Price is $4.25 Difference: $0.8
If DRR meets the UBS target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $4.91, suggesting upside of 18.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.8

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

Citi rates ELD as Buy (1) -

Citi upgrades its assumptions for livestock, which drives a 7% estimate for growth in FY21 agency earnings. Tight crop input markets ahead of winter plantings should also benefit rural products sales in FY21.

Amid an outlook for continued rainfall on the east coast the broker expects restocking demand to maintain cattle and sheep prices close to record levels. Buy rating retained. Target rises to $13.20 from $13.00.

Target price is $13.20 Current Price is $11.78 Difference: $1.42
If ELD meets the Citi target it will return approximately 12% (excluding dividends, fees and charges).

Current consensus price target is $12.89, suggesting upside of 8.1% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.7

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

Macquarie rates EVN as Outperform (1) -

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. The improved copper price outlook drives 3-17% upgrades to earnings for Evolution Mining over FY21-FY25.

Outperform and the target rises to $5.60 from $5.40.

Target price is $5.60 Current Price is $3.92 Difference: $1.68
If EVN meets the Macquarie target it will return approximately 43% (excluding dividends, fees and charges).

Current consensus price target is $4.69, suggesting upside of 21.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.3

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

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

Ord Minnett initiates coverage on HomeCo Daily Needs with a Buy rating and $1.43 target price.

The broker highlights its investment thesis, noting the company offers investors an attractive distribution yield and limited expiries over the medium term. The tenant mix is considered very defensive, with a 76% exposure to national retailers and limited exposure to apparel.

Target price is $1.43 Current Price is $1.31 Difference: $0.12
If HDN meets the Ord Minnett target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $1.43, suggesting upside of 9.7% (ex-dividends)

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

Ord Minnett rates INR as Buy (1) -

Ioneer has raised $80m of capital, leaving Ord Minnett surprised. On reflection, the broker considers the move shrewd considering construction is due to kick off late in the second half.

Speculative Buy rating reiterated. Target falls to $0.56 from $0.60.

Target price is $0.56 Current Price is $0.42 Difference: $0.14
If INR meets the Ord Minnett target it will return approximately 33% (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

Morgans rates KLL as Add (1) -

A recent site visit to operations at the Beyondie Sulphate of Potash (SOP) project has given Morgans confidence to move to an Add rating from Speculative Buy and raise the target price to $0.27 from $0.229. The analyst now has higher confidence in production capacity.

Drainage work on the lakes is complete, the evaporation ponds are rapidly approaching completion and trial harvesting has been undertaken, outlines the broker. The company is considered prepared for commissioning the operation this year.

Target price is $0.27 Current Price is $0.20 Difference: $0.07
If KLL meets the Morgans target it will return approximately 35% (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

Macquarie rates KMD as Neutral (3) -

According to the latest update, Kathmandu Holdings saw an 11% rise in sales in the fourth quarter for US retailers. Even so, Macquarie notes growth has slowed since September with January 2021 sales up merely 2% versus last year. 

The broker expects the pandemic impacted months of March-May will provide an easier base for US surf/skate retailers. Strong sell through rates continue to persist, although at a lower pace. with inventory below last year levels.

Neutral rating with a target of $1.25.

Target price is $1.25 Current Price is $1.12 Difference: $0.13
If KMD meets the Macquarie target it will return approximately 12% (excluding dividends, fees and charges).

Current consensus price target is $1.35, suggesting upside of 15.4% (ex-dividends)

The company's fiscal year ends in July.

Forecast for FY21:

Forecast for FY22:

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

Citi rates LVT as Neutral (3) -

A weaker operating performance over the last 12-18 months has meant LiveTiles trades at a material to discount to its domestic technology peers, Citi asserts.

This also reflects the fact the company has refreshed its product portfolio and changed its strategy. As hiring steps up the broker expects cash burn will continue and free cash flow will not be in positive territory until FY23.

Therefore, Citi envisages a high likelihood further capital will be required. Neutral/High Risk retained. Target rises to $0.28 from $0.25.

Target price is $0.28 Current Price is $0.24 Difference: $0.04
If LVT meets the Citi target it will return approximately 17% (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

Macquarie rates MIN as Outperform (1) -

Macquarie believes the completion of Kemerton I & II should see Mineral Resources commence lithium hydroxide production in mid-2022, with phased expansions of Kemerton increasing the company's equity share of hydroxide production to 60ktpa by 2027.

Further, buoyant iron-ore prices continue to drive short-term upgrade momentum, assesses the broker, generating 56% and 200% higher earnings for FY21-22.

Outperform rating with the target rising to $50.50 from $47.50.

Target price is $50.50 Current Price is $38.54 Difference: $11.96
If MIN meets the Macquarie target it will return approximately 31% (excluding dividends, fees and charges).

Current consensus price target is $41.10, suggesting upside of 6.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.3

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

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

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. The improved outlook drives an 8%-36% increase in the earnings forecasts for FY21-FY25 for Newcrest Mining. 

Macquarie upgrades to Outperform rating from Neutral with the target rising to $30 from $28.

Target price is $30.00 Current Price is $23.87 Difference: $6.13
If NCM meets the Macquarie target it will return approximately 26% (excluding dividends, fees and charges).

Current consensus price target is $32.27, suggesting upside of 37.3% (ex-dividends)

The company's fiscal year ends in June.

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: 0.9

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

Macquarie rates OGC as Neutral (3) -

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. The improved copper price outlook drives 9-10% upgrades to earnings for OceanaGold Corp over FY21-FY25.

Neutral retained, target rises to $2.10 from $2.

Target price is $2.10 Current Price is $1.93 Difference: $0.17
If OGC meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $2.33, suggesting upside of 20.5% (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

Ord Minnett rates OML as Hold (3) -

Ord Minnett has updated its model to reflect some AASB16 lease-related accounting changes and formatting for oOh!media. As a result, there have been slight changes to the net profit due to higher interest costs.

Hold rating and $1.80 target maintained.

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

Current consensus price target is $2.08, suggesting upside of 24.8% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.7

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

Macquarie rates OZL as Outperform (1) -

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. The improved copper price outlook drives circa 50-60% upgrades to earnings over the next five years for OZ Minerals.

The broker believes OZ Minerals can now fund its growth outlook from its cash flows and existing facilities and remains Macquarie's preferred base metal stock.

Outperform rating with the target rising to $30 from $24.

Target price is $30.00 Current Price is $21.38 Difference: $8.62
If OZL meets the Macquarie target it will return approximately 40% (excluding dividends, fees and charges).

Current consensus price target is $19.76, suggesting downside of -9.5% (ex-dividends)

The company's fiscal year ends in December.

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

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

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. The improved outlook leads to a threefold rise in the earnings forecasts for Panoramic Resources over FY21-FY25.

The rating is upgraded to Outperform from Neutral with the target of 19c from 17c.

Target price is $0.19 Current Price is $0.13 Difference: $0.06
If PAN meets the Macquarie target it will return approximately 46% (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

UBS rates REG as Neutral (3) -

In the wake of the Royal Commission UBS assesses, there is significantly more "wriggle room" for the government to selectively adopt measures while also delaying regularity clarity until the FY22 budget.

In the short term Regis Healthcare should benefit from temporary funding in the second half. The longer term investment case hinges on a post-reform unit economics, in the broker's view, and the continuity of RAD funding.

Neutral retained. Target is raised to $2.00 from $1.36.

Target price is $2.00 Current Price is $2.02 Difference: minus $0.02 (current price is over target).
If REG meets the UBS target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $2.03, suggesting upside of 2.5% (ex-dividends)

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

Macquarie rates RIO as Outperform (1) -

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. The improved copper price outlook drives 2-9% upgrades to earnings for Rio Tinto for 2021-24.

Outperform rating with the target rising to $142 from $135.

Target price is $142.00 Current Price is $121.11 Difference: $20.89
If RIO meets the Macquarie target it will return approximately 17% (excluding dividends, fees and charges).

Current consensus price target is $128.71, suggesting upside of 6.2% (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: 0.6

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

Macquarie rates SFR as Outperform (1) -

Macquarie upgrades its copper price forecasts in the short-term by 20% and 30% in the medium-term to incorporate energy transition-related demand. 

The impact on Sandfire Resources' outlook is significant, suggests Macquarie, with its earnings forecasts rising by an average of circa 90% over the next five years. 

The broker maintains an Outperform rating with the target rising to $9 from $6.70.

Target price is $9.00 Current Price is $5.98 Difference: $3.02
If SFR meets the Macquarie target it will return approximately 51% (excluding dividends, fees and charges).

Current consensus price target is $6.56, suggesting upside of 8.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.4

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

Morgan Stanley rates VRT as Underweight (5) -

Morgan Stanley observes renewed strength in the IVF market. Virtus Health reported fresh cycle growth of 18% in the first half.

Morgan Stanley assumes industry cycle growth reverts to long-term estimates of around 2% per annum and will watch for the cessation of government stimulus measures before becoming more positive.

Underweight maintained, as the broker prefers Monash IVF ((MVF)). Target is raised to $5.05 from $4.90. Industry view is In-Line.

Target price is $5.05 Current Price is $5.88 Difference: minus $0.83 (current price is over target).
If VRT meets the Morgan Stanley target it will return approximately minus 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $6.29, suggesting upside of 5.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.3

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

Macquarie rates VUK as Neutral (3) -

Despite the recent share-price rally, Macquarie continues to see the potential for further re-rating over the medium term. Even then, the broker no longer considers Virgin Money UK as cheap relative to UK peers.

As a result, Macquarie thinks any upside will likely be driven by the broader sector recovery. To outperform peers, the broker believes Virgin Money needs to deliver better revenue growth or exceed expectations on expenses, which is not evident at this point. 

Neutral rating and the target rises to $3.35 from $2.70.

Target price is $3.35 Current Price is $3.46 Difference: minus $0.11 (current price is over target).
If VUK meets the Macquarie target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in September.

Forecast for FY21:

Forecast for FY22:

This company reports in GBP. 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