Australian Broker Call
July 31, 2017
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COMPANIES DISCUSSED IN THIS ISSUE
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Last Updated: 12:05 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
| AWE - | AWE | Downgrade to Neutral from Buy | UBS |
| OGC - | OCEANAGOLD | Upgrade to Buy from Hold | Deutsche Bank |
| SFR - | SANDFIRE | Downgrade to Neutral from Outperform | Macquarie |
| Downgrade to Hold from Add | Morgans | ||
| Downgrade to Hold from Speculative Buy | Ord Minnett |
Ord Minnett rates ABP as Buy (1) -
FY17 earnings guidance has been upgraded to expectations of underlying profit in the range of $182-187m. Ord Minnett believes this would be an exceptionally strong result.
The broker upgrades forecasts to be in line with guidance, allowing for higher project profits and lower tax than previously assumed. Buy rating and $3.30 target retained.
Target price is $3.30 Current Price is $3.05 Difference: $0.25
If ABP meets the Ord Minnett target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $3.16, suggesting upside of 1.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 18.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.6, implying annual growth of -20.6%. Current consensus DPS estimate is 17.4, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 19.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.9, implying annual growth of -2.6%. Current consensus DPS estimate is 18.1, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 12.0. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates AWE as Hold (3) -
June quarter production was broadly in line with Deutsche Bank's forecasts. Production was down -18% relative to the March quarter because of completion of the Tui oil field divestment and planned maintenance activities at BassGas.
The company's net debt position has increased to $54m because of elevated capital expenditure during the June quarter. Deutsche Bank reduces forecasts for earnings per share in FY17 by -4%. Hold rating retained. Target is $0.50.
Target price is $0.50 Current Price is $0.48 Difference: $0.025
If AWE meets the Deutsche Bank target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $0.52, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 3.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -3.8, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 5.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -0.9, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AWE as Neutral (3) -
June quarter revenue beat Macquarie's expectations. Implied gas pricing shows upside potential heading into FY18 with the re-contracting negotiations for Casino underway.
Macquarie notes a lower capital program in FY18 should reduce the draw-down on debt but this is expected to ramp up significantly in FY19 as capital expenditure at Waitsia progresses.
Neutral and 50c target retained.
Target price is $0.50 Current Price is $0.48 Difference: $0.025
If AWE meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $0.52, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 2.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -3.8, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 1.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -0.9, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates AWE as Underweight (5) -
As the Casino project has encountered problems this brings uncertainty into capital expenditure guidance for FY18, Morgan Stanley observes. This is considered important, given a relatively low operating cash flow and rising net debt.
The broker observes pressure is slowly building on the balance sheet. Underweight. Target is reduced to $0.41 from $0.42. Industry view: In-Line.
Target price is $0.41 Current Price is $0.48 Difference: minus $0.065 (current price is over target).
If AWE 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 $0.52, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 3.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -3.8, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 1.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -0.9, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates AWE as Downgrade to Neutral from Buy (3) -
UBS was disappointed with June quarter production primarily because of lower output at Casino. Field production will be constrained until a work-over can be conducted.
The broker downgrades to Neutral from Buy because of the reduction in the valuation of Casino and recent share price appreciation.
Almost 50% of the broker's asset value is now attributed to Waitsia, highlighting the growing importance of this field for the company. Target is reduced to $0.56 from $0.60.
Target price is $0.56 Current Price is $0.48 Difference: $0.085
If AWE meets the UBS target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $0.52, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 3.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -3.8, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 1.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -0.9, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates BKW as Neutral (3) -
Citi analysts point out Brickworks' updated guidance implies a material downgrade vis-a-vis its own and market forecasts for the year. Not making things any better, the outlook is weaker too.
In addition, Citi analysts believe the specific slowdown in WA, a brick intensive market, will likely have consequences for other building products companies.
Target remains $14.45. Neutral rating retained.
Target price is $14.45 Current Price is $13.62 Difference: $0.83
If BKW meets the Citi target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $14.63, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 51.00 cents and EPS of 126.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.6, implying annual growth of 133.3%. Current consensus DPS estimate is 48.8, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 10.8. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 54.00 cents and EPS of 99.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.8, implying annual growth of -16.7%. Current consensus DPS estimate is 54.5, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 12.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates BKW as Buy (1) -
Brickworks has provided underlying net profit guidance for FY17 for growth of 25%, largely from continued strength in land & development and the investments division.
Building products operating earnings are expected to be lower than FY16, primarily because of difficult market conditions and restructuring in Western Australia.
Deutsche Bank reduces FY17 building products operating earnings expectations by -8%. Buy recommendation retained. Target is reduced to $15.86 from $16.39.
Target price is $15.86 Current Price is $13.62 Difference: $2.24
If BKW meets the Deutsche Bank target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $14.63, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 49.00 cents and EPS of 123.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.6, implying annual growth of 133.3%. Current consensus DPS estimate is 48.8, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 10.8. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 49.00 cents and EPS of 100.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.8, implying annual growth of -16.7%. Current consensus DPS estimate is 54.5, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 12.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates BKW as Neutral (3) -
Macquarie observes current market activity is underpinning a strong order book and east coast trading is robust. While the investment portfolio is enjoying coal-related tailwinds growth is expected to moderate into FY18.
Macquarie still believes the building cycle is running out of upward momentum and rising energy costs also present a significant headwind. Neutral retained. Target is reduced to $14.60 from $15.45.
Target price is $14.60 Current Price is $13.62 Difference: $0.98
If BKW meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $14.63, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 45.00 cents and EPS of 124.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.6, implying annual growth of 133.3%. Current consensus DPS estimate is 48.8, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 10.8. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 63.00 cents and EPS of 118.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.8, implying annual growth of -16.7%. Current consensus DPS estimate is 54.5, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 12.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates BKW as Hold (3) -
The company expects underlying net profit in FY17 to be approximately 25% above FY16. Building products earnings are expected to be lower than the prior year because of difficult market conditions and restructuring in Western Australia.
Morgans reduces FY17 forecasts to reflect the updated guidance. Hold rating retained. Target is reduced to $13.60 from $13.62.
Target price is $13.60 Current Price is $13.62 Difference: minus $0.02 (current price is over target).
If BKW meets the Morgans target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $14.63, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 50.00 cents and EPS of 125.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.6, implying annual growth of 133.3%. Current consensus DPS estimate is 48.8, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 10.8. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 52.00 cents and EPS of 97.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.8, implying annual growth of -16.7%. Current consensus DPS estimate is 54.5, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 12.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates BLD as Buy (1) -
The company plans to replace its existing Waurn Ponds facility and has applied for a new 1.3mt cement mill at Lascelles Wharf, Victoria.
The new facility is expected to lower transport and handling costs and produce a slag-based product range with swing capacity to capture a surge in project activity.
Deutsche Bank believes the project makes sense, subject to the final details. A decision is expected by the end of the year.
Target is $7.96. Buy retained.
Target price is $7.96 Current Price is $6.89 Difference: $1.07
If BLD meets the Deutsche Bank target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $7.07, suggesting upside of 1.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 27.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.2, implying annual growth of -8.8%. Current consensus DPS estimate is 24.2, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 22.3. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 28.00 cents and EPS of 42.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.4, implying annual growth of 13.5%. Current consensus DPS estimate is 24.4, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 19.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates CGF as Underweight (5) -
Morgan Stanley is of the view that, as Challenger needs circa $4.4bn of additional capital to support book growth over the next 5-6 years, investors should be mindful of dilutive raisings and the cost of capital. Both need to be factored into today's valuation, argue the analysts.
Taking everything into account, the analysts cannot justify today's valuation. Morgan Stanley recently downgraded to Underweight, while reducing the target to $11.50 from $12.00. Industry view: In-line.
Target price is $11.50 Current Price is $12.73 Difference: minus $1.23 (current price is over target).
If CGF meets the Morgan Stanley target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $12.20, suggesting downside of -4.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 34.60 cents and EPS of 69.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 66.0, implying annual growth of 12.8%. Current consensus DPS estimate is 33.7, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 19.4. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 39.70 cents and EPS of 66.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 70.8, implying annual growth of 7.3%. Current consensus DPS estimate is 37.1, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 18.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates GMG as Outperform (1) -
Macquarie observes development is delivering all-time record returns and the market is concerned about what happens when the cycle returns to normal.
While development is over earning the broker believes the bulk of the capital is under earning, because of the preparation of assets for urban renewal and the initial dilution arising from asset sales and paying down debt.
The timing of the shift in the composition of the company's earnings, away from lower multiple development, is uncertain and likely to be gradual, so the broker finds it hard to make a conclusive valuation at this point in time.
Outperform retained. Target is reduced to $8.46 from $8.52.
Target price is $8.46 Current Price is $7.92 Difference: $0.54
If GMG meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $8.18, suggesting upside of 2.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 25.90 cents and EPS of 43.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.6, implying annual growth of -38.1%. Current consensus DPS estimate is 25.9, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 17.8. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 27.60 cents and EPS of 46.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.9, implying annual growth of 2.9%. Current consensus DPS estimate is 27.3, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates JHG as Overweight (1) -
Morgan Stanley observes the company's first result as a merged business is shaping up strongly. The broker envisages upside in the June quarter from flows and performance fees.
The broker targets pro forma adjusted earnings of around US$103.5m. Overweight retained. Industry view is In-Line. Target is $52.30.
Target price is $52.30 Current Price is $41.55 Difference: $10.75
If JHG meets the Morgan Stanley target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $47.05, suggesting upside of 12.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 EPS of 280.39 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 254.7, implying annual growth of N/A. Current consensus DPS estimate is 196.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 16.4. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 EPS of 318.74 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 318.4, implying annual growth of 25.0%. Current consensus DPS estimate is 236.6, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 13.1. |
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
Morgans rates MEB as Add (1) -
The company has added a number of high-profile board appointments amid further validation of its technology and partnerships with major clinical and research institutes.
Morgans observes a number of key catalysts over the next 12 months, which should drive investor interest. Add rating and $1.20 target retained.
Target price is $1.20 Current Price is $0.33 Difference: $0.87
If MEB meets the Morgans target it will return approximately 264% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 4.40 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 4.90 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates MQG as Hold (3) -
FY18 profit is expected to be broadly in line with FY17. Deutsche Bank notes the annuity business is performing in line with expectations and there are some positive aspects to activity levels in the market-facing businesses.
FX trends are the potential headwind if the Australian dollar remains at current levels. Target is raised to $90.70 from $90.30. Hold.
Target price is $90.70 Current Price is $85.05 Difference: $5.65
If MQG meets the Deutsche Bank target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $88.34, suggesting upside of 3.5% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 480.00 cents and EPS of 665.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 648.9, implying annual growth of -1.3%. Current consensus DPS estimate is 471.0, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 13.2. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 500.00 cents and EPS of 685.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 658.8, implying annual growth of 1.5%. Current consensus DPS estimate is 473.0, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 13.0. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates MVF as Hold (3) -
Morgans takes a more conservative stance on the FY18 and FY19 forecasts versus guidance. The company has provided some broad guidance, noting the potential for high single digit declines in net profit in FY19.
Morgans retains a Hold rating. Target is reduced to $1.63 from $1.80.
Target price is $1.63 Current Price is $1.62 Difference: $0.015
If MVF meets the Morgans target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $2.12, suggesting upside of 33.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 8.90 cents and EPS of 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.3, implying annual growth of 9.0%. Current consensus DPS estimate is 9.1, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 9.40 cents and EPS of 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.9, implying annual growth of 4.5%. Current consensus DPS estimate is 9.9, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates OGC as Buy (1) -
First half for the company has been described as "challenging" by Citi analysts, but they see better times ahead, also because anti-mining sentiment on the Philippines is receding.
Despite a soft June quarter, the company remains on track to achieve its guidance for 2017, say the analysts. They have lowered their price target to $4.70 (-20c) while retaining the Buy/High Risk rating.
Target price is $4.70 Current Price is $3.34 Difference: $1.36
If OGC meets the Citi target it will return approximately 41% (excluding dividends, fees and charges).
Current consensus price target is $4.71, suggesting upside of 38.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 2.65 cents and EPS of 34.92 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 3.1, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 9.7. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 3.97 cents and EPS of 33.59 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 37.8, implying annual growth of 8.0%. Current consensus DPS estimate is 3.4, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 9.0. |
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
Deutsche Bank rates OGC as Upgrade to Buy from Hold (1) -
Deutsche Bank believes the sell-off in the stock is overdone. Commissioning problems at Haile have been identified and are being resolved. Meanwhile, gold output fell in the quarter as Didipio milled grade declined, as per guidance.
The broker believes the stock screens cheap and upgrades to Buy from Hold. Target is reduced to $4.40 from $4.50.
Target price is $4.40 Current Price is $3.34 Difference: $1.06
If OGC meets the Deutsche Bank target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $4.71, suggesting upside of 38.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 2.65 cents and EPS of 26.45 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 3.1, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 9.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 2.65 cents and EPS of 37.03 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 37.8, implying annual growth of 8.0%. Current consensus DPS estimate is 3.4, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 9.0. |
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
Macquarie rates OGC as Outperform (1) -
June quarter production missed Macquarie's estimates. The miss was largely driven by lower-than-expected production from Haile. Costs were also higher than expected.
Macquarie trims forecasts for Haile and expects the political climate to improve for Didipio. Outperform rating and $6 target retained.
Target price is $6.00 Current Price is $3.34 Difference: $2.66
If OGC meets the Macquarie target it will return approximately 80% (excluding dividends, fees and charges).
Current consensus price target is $4.71, suggesting upside of 38.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 2.65 cents and EPS of 39.68 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 3.1, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 9.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 2.65 cents and EPS of 53.06 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 37.8, implying annual growth of 8.0%. Current consensus DPS estimate is 3.4, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 9.0. |
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
Morgan Stanley rates ORG as Overweight (1) -
The company has completed the operational phase of APLNG testing, which Morgan Stanley believes is a significant milestone and adds the much-needed margin for comfort in a higher Australian dollar environment.
The broker believes APLNG now has incremental flexibility in its Queensland gas operations and may consider re-financing.
Overweight rating. $8.82 target. Industry view: Cautious.
Target price is $8.82 Current Price is $6.86 Difference: $1.96
If ORG meets the Morgan Stanley target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $7.48, suggesting upside of 8.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 0.00 cents and EPS of 30.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.5, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 41.8. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 0.00 cents and EPS of 61.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.5, implying annual growth of 206.1%. Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 13.7. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates RSG as Buy (1) -
Under the threat of a five-day strike at the Syama operation in Mali, Citi analysts have had a chat to company management.
The conclusion drawn is that processing at the sulphide plant may be affected but mining and oxide processing should
continue.
The analysts caution against over-reacting if/when the news about a strike actually breaks. They make no changes, retaining a Buy rating and $1.90 price target.
Target price is $1.90 Current Price is $1.03 Difference: $0.865
If RSG meets the Citi target it will return approximately 84% (excluding dividends, fees and charges).
Current consensus price target is $1.77, suggesting upside of 67.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 2.00 cents and EPS of 35.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.2, implying annual growth of N/A. Current consensus DPS estimate is 1.0, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 3.9. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 3.00 cents and EPS of 7.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of -43.0%. Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 6.8. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates SFR as Neutral (3) -
The performance during the June quarter proved in-line with expectations, but the company has also guided towards lower output and lower grades.
A stronger AUD has also been incorporated. Citi analysts have in response sliced 60c off their price target; to $6.20 from $6.80. Neutral/High Risk rating retained.
Target price is $6.20 Current Price is $5.95 Difference: $0.25
If SFR meets the Citi target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $6.28, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 12.00 cents and EPS of 46.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.7, implying annual growth of 72.6%. Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 15.00 cents and EPS of 49.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.7, implying annual growth of -5.7%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 11.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates SFR as Underperform (5) -
Credit Suisse observes June quarter production met guidance, with cost lower than guidance. The broker's earnings forecasts and valuation remain affected by depressed medium-term copper price assumptions.
Credit Suisse also notes that depreciation increases materially, to $136m guidance on amortisation of FY17 and FY18 planned strategic capital, which must be recovered over the very limited remaining mine life to the end of 2021.
Credit Suisse retains an Underperform rating and $4.65 target.
Target price is $4.65 Current Price is $5.95 Difference: minus $1.3 (current price is over target).
If SFR meets the Credit Suisse target it will return approximately minus 22% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.28, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 15.52 cents and EPS of 53.53 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.7, implying annual growth of 72.6%. Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 6.32 cents and EPS of 21.07 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.7, implying annual growth of -5.7%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 11.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates SFR as Buy (1) -
June quarter production was in line with Deutsche Bank's forecasts and costs impressed.
The broker believes the stock presents as a simple pure copper exposure and, with the current share price, investors are not paying for any further mine life extensions.
Buy rating retained. Target is reduced to $8.20 from $8.30.
Target price is $8.20 Current Price is $5.95 Difference: $2.25
If SFR meets the Deutsche Bank target it will return approximately 38% (excluding dividends, fees and charges).
Current consensus price target is $6.28, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 16.00 cents and EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.7, implying annual growth of 72.6%. Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 17.00 cents and EPS of 57.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.7, implying annual growth of -5.7%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 11.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SFR as Downgrade to Neutral from Outperform (3) -
June quarter production was in line with Macquarie's expectations but guidance for FY18 is well below. The broker materially lowers earnings forecasts as a result.
Exploration around Doolgunna continues to disappoint the broker and the pressure on the company to make a meaningful discovery is building.
Hence, in the absence of an acquisition or exploration success, Macquarie downgrades to Neutral from Outperform. Target is reduced to $6.40 from $7.70.
Target price is $6.40 Current Price is $5.95 Difference: $0.45
If SFR meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $6.28, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 14.00 cents and EPS of 53.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.7, implying annual growth of 72.6%. Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 14.00 cents and EPS of 45.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.7, implying annual growth of -5.7%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 11.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates SFR as Downgrade to Hold from Add (3) -
FY17 production was in line and Morgans notes a consistent track record in operations. Cash accumulation also impressed the broker but investor intention is expected to focus increasingly on near-mine exploration success.
The broker downgrades to Hold from Add and reduces the target to $6.44 from $6.79.
Target price is $6.44 Current Price is $5.95 Difference: $0.49
If SFR meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $6.28, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 15.00 cents and EPS of 51.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.7, implying annual growth of 72.6%. Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 14.00 cents and EPS of 48.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.7, implying annual growth of -5.7%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 11.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates SFR as Downgrade to Hold from Speculative Buy (3) -
June quarter results were relatively solid, Ord Minnett observes. The recent performance of the share price leads the broker to downgrade to Hold from Speculative Buy.
Ord Minnett will become more positive if and when there are signs of further growth plans, such as the Black Butte project, or other exploration adding mine life. Target is reduced to $6.30 from $6.70.
Target price is $6.30 Current Price is $5.95 Difference: $0.35
If SFR meets the Ord Minnett target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $6.28, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 11.00 cents and EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.7, implying annual growth of 72.6%. Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 16.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.7, implying annual growth of -5.7%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 11.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates SFR as Neutral (3) -
The company has ramped up exploration around Doolgunna which UBS believes is a push to find new sources of ore. The current mine plan depletes in mid 2021. The broker believes the question of what is next is starting to dominate the stock.
Meanwhile, the June quarter was stronger than expected and FY18 guidance is in line. Neutral retained. Target is raised to $6.16 from $6.12.
Target price is $6.16 Current Price is $5.95 Difference: $0.21
If SFR meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $6.28, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 14.00 cents and EPS of 52.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.7, implying annual growth of 72.6%. Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 18.00 cents and EPS of 59.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.7, implying annual growth of -5.7%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 11.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates TOX as Neutral (3) -
UBS suspects the headwinds of lower oil & gas related waste expenditure could be partially offset by the buoyant expenditure on infrastructure on the east coast.
More importantly, solids waste earnings are being replaced by higher quality health waste earnings through the Daniels acquisition. UBS maintains a Neutral rating and increases the target to $2.55 from $2.35.
Target price is $2.55 Current Price is $2.43 Difference: $0.12
If TOX meets the UBS target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.38, suggesting downside of -2.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 9.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.5, implying annual growth of 46.3%. Current consensus DPS estimate is 8.4, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 9.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.8, implying annual growth of 2.2%. Current consensus DPS estimate is 8.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 17.7. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WEB as Outperform (1) -
Webjet has disclosed a dispute with its auditor around the treatment of the Thomas Cook revenue stream.
The auditor is maintaining that the original payment to Thomas Cook to secure the transaction should be classified as a loan rather than an intangible. Accordingly, the fixed management fee should be captured in the cash flow.
While the combination of a high price/earnings stock and auditor disputes is compelling, Credit Suisse notes that the cash impact is zero and does not feel compelled to change its view. Outperform rating maintained. Target rises to $12.60 from $12.00.
Target price is $12.60 Current Price is $11.80 Difference: $0.8
If WEB meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $12.24, suggesting upside of 5.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 18.03 cents and EPS of 40.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.3, implying annual growth of 61.9%. Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 26.2. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 24.06 cents and EPS of 48.83 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.4, implying annual growth of 13.8%. Current consensus DPS estimate is 23.7, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 23.0. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates WEB as Equal-weight (3) -
The auditors have indicated they will not sign off on the FY17 accounts. Morgan Stanley believes this affects investor sentiment more than its view of free cash flow, and notes it had previously highlighted the lack of clarity around the Thomas Cook deal.
The auditors believe revenue and operating earnings should be cut by a respective $11m and $11.5m. Disagreement centres around the acquisition of Thomas Cook wholesale assets, specifically the treatment of revenue and intangibles.
Equal-weight retained. Industry view: In line. Target is $10.50.
Target price is $10.50 Current Price is $11.80 Difference: minus $1.3 (current price is over target).
If WEB meets the Morgan Stanley target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $12.24, suggesting upside of 5.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 20.00 cents and EPS of 41.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.3, implying annual growth of 61.9%. Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 26.2. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 24.20 cents and EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.4, implying annual growth of 13.8%. Current consensus DPS estimate is 23.7, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 23.0. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Summaries
| ABP - | ABACUS PROPERTY GROUP | Buy - Ord Minnett | Overnight Price $3.05 |
| AWE - | AWE | Hold - Deutsche Bank | Overnight Price $0.48 |
| Neutral - Macquarie | Overnight Price $0.48 | ||
| Underweight - Morgan Stanley | Overnight Price $0.48 | ||
| Downgrade to Neutral from Buy - UBS | Overnight Price $0.48 | ||
| BKW - | BRICKWORKS | Neutral - Citi | Overnight Price $13.62 |
| Buy - Deutsche Bank | Overnight Price $13.62 | ||
| Neutral - Macquarie | Overnight Price $13.62 | ||
| Hold - Morgans | Overnight Price $13.62 | ||
| BLD - | BORAL | Buy - Deutsche Bank | Overnight Price $6.89 |
| CGF - | CHALLENGER | Underweight - Morgan Stanley | Overnight Price $12.73 |
| GMG - | GOODMAN GRP | Outperform - Macquarie | Overnight Price $7.92 |
| JHG - | JANUS HENDERSON GROUP | Overweight - Morgan Stanley | Overnight Price $41.55 |
| MEB - | MEDIBIO | Add - Morgans | Overnight Price $0.33 |
| MQG - | MACQUARIE GROUP | Hold - Deutsche Bank | Overnight Price $85.05 |
| MVF - | MONASH IVF | Hold - Morgans | Overnight Price $1.62 |
| OGC - | OCEANAGOLD | Buy - Citi | Overnight Price $3.34 |
| Upgrade to Buy from Hold - Deutsche Bank | Overnight Price $3.34 | ||
| Outperform - Macquarie | Overnight Price $3.34 | ||
| ORG - | ORIGIN ENERGY | Overweight - Morgan Stanley | Overnight Price $6.86 |
| RSG - | RESOLUTE MINING | Buy - Citi | Overnight Price $1.03 |
| SFR - | SANDFIRE | Neutral - Citi | Overnight Price $5.95 |
| Underperform - Credit Suisse | Overnight Price $5.95 | ||
| Buy - Deutsche Bank | Overnight Price $5.95 | ||
| Downgrade to Neutral from Outperform - Macquarie | Overnight Price $5.95 | ||
| Downgrade to Hold from Add - Morgans | Overnight Price $5.95 | ||
| Downgrade to Hold from Speculative Buy - Ord Minnett | Overnight Price $5.95 | ||
| Neutral - UBS | Overnight Price $5.95 | ||
| TOX - | TOX FREE SOLUTIONS | Neutral - UBS | Overnight Price $2.43 |
| WEB - | WEBJET | Outperform - Credit Suisse | Overnight Price $11.80 |
| Equal-weight - Morgan Stanley | Overnight Price $11.80 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 13 |
| 3. Hold | 15 |
| 5. Sell | 3 |
Monday 31 July 2017
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Disclaimer:
The content of this information does in no way reflect the opinions of
FNArena, or of its journalists. In fact we don't have any opinion about
the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe
and comment on. By doing so we believe we provide intelligent investors
with a valuable tool that helps them in making up their own minds, reading
market trends and getting a feel for what is happening beneath the surface.
This document is provided for informational purposes only. It does not
constitute an offer to sell or a solicitation to buy any security or other
financial instrument. FNArena employs very experienced journalists who
base their work on information believed to be reliable and accurate, though
no guarantee is given that the daily report is accurate or complete. Investors
should contact their personal adviser before making any investment decision.
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