Australian Broker Call

Macquarie rates 29M as Neutral (3) -

Macquarie has increased its long term copper price forecast by 4% to US$4.63/lb with 10%/9%/7% increases from 2028-2030. Macquarie's copper price outlook is now in line with consensus across all time horizons.

The broker's updated long term price is some -25% below current spot copper prices of US$6.15/lb.

Movements in copper, zinc, gold, silver, and lead prices present the key risks to Macquarie's earnings forecasts and valuation for 29Metals. Target rises to 30c from 26c, Neutral retained.

Target price is $0.30 Current Price is $0.26 Difference: $0.04
If 29M meets the Macquarie target it will return approximately 15% (excluding dividends, fees and charges).

Current consensus price target is $0.35, suggesting upside of 41.3% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.3

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

Citi rates A2M as Neutral (3) -

Recent Tmall Global 6.18 pre-sales data provided a modestly encouraging read-through for a2 Milk, in Citi's view.

The company ranked fifth in the baby category, only slightly lower than its position during the 2025 Double 11 festival despite ongoing supply issues and market access headwinds.

The broker believes the result indicates consumer demand and brand strength have remained relatively resilient, even after news of the US product recall circulated in China earlier this year.

The data also supports the view market share recovery remains achievable in FY27 as supply conditions improve, while major international competitors showed little change in ranking.

Citi rates the stock Neutral with a $6.70 target price.

Target price is $6.70 Current Price is $6.85 Difference: minus $0.15 (current price is over target).
If A2M meets the Citi target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $8.30, suggesting upside of 16.4% (ex-dividends)

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: 0.6

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

Citi rates AAI as Buy (1) -

The Citi global commodities team continues to be positive on the structural case for aluminium with a US$3,800/t target in 2027 which is a forecast independent of the Middle East.

The analyst believes the company continues to optimise the value of its existing operations with the short term challenges centred on softer alumina prices.

The broker stresses the stock remains vulnerable to the changing risk on/risk off "moods" of the market, but upgrades 2027 earnings (EBITDA) forecast by 21%.

Buy rated. Target US$76.

Current Price is $80.08. Target price not assessed.

Current consensus price target is $108.50, suggesting upside of 42.5% (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: 0.8

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

Macquarie rates AEL as Outperform (1) -

After a 1H26 windfall, Macquarie lowers oil prices to below consensus in 2027. The Strait of Hormuz flow path is key. Macquarie expects heavy oversupply in 2027, with restocking demand a key swing factor.

The broker has cut earnings forecasts across its coverage.

Macquarie's top picks are Santos in large caps and Amplitude Energy in small-medium. Outperform and $2.55 target retained for Amplitude Energy.

Target price is $2.55 Current Price is $1.39 Difference: $1.165
If AEL meets the Macquarie target it will return approximately 84% (excluding dividends, fees and charges).

Current consensus price target is $2.84, suggesting upside of 118.3% (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 AIS as Outperform (1) -

Macquarie has increased its long-term copper price forecast by 4% to US$4.63/lb with 10%/9%/7% increases from 2028–2030. Macquarie's copper price outlook is now in line with consensus across all time horizons.

The broker's updated long-term price is some -25% below current spot copper prices of US$6.15/lb.

Movements in copper, gold, and zinc prices, and exchange rates that vary compared to forecasts present risk to Macquarie's Aeris Resources forecast earnings and valuation. Target falls to 60c from 73c, Outperform retained.

Target price is $0.60 Current Price is $0.39 Difference: $0.215
If AIS meets the Macquarie target it will return approximately 56% (excluding dividends, fees and charges).

Current consensus price target is $0.74, suggesting upside of 106.3% (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 APZ as Buy (1) -

Citi views the May CPI underpins some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered as a near-term positive for A-REITS, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail, industrial.

Conversely, fund managers and highly geared REITS exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group ((SCG)) as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres ((VCX)) are inflation plays.

Goodman Group ((GMG)) and BWP Trust ((BWP)) are defensive. Stockland ((SGR)), Gemlife Communities Group and Aspen Group for a recovery in housing affordability.

Buy rated. Target $5.40.

Target price is $5.40 Current Price is $5.26 Difference: $0.14
If APZ meets the Citi target it will return approximately 3% (excluding dividends, fees and charges).

Market Sentiment: 1.0

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

Morgans rates ATR as Speculative Buy (1) -

Morgans highlights momentum is increasing for Astron to make a final investment decision for Phase 1 in September on its flagship, Donald project, with project financing and HMC offtake in place.

The broker points out Astron has released a revised economic study for Phase 2 of the Donald project, including a  new ore reserve over the adjacent RL2002 tenement. 

Phase 2 is noted for being a bolt-on expansion with the scope to double processing capacity to 15Mtpa from 7.5Mtpa and boost mine life to around 52-years from 40 years.

A Speculative Buy rating and 90c target are retained.

Target price is $0.90 Current Price is $0.58 Difference: $0.32
If ATR meets the Morgans target it will return approximately 55% (excluding dividends, fees and charges).

Market Sentiment: 1.0

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

Citi rates BBN as Buy (1) -

Citi reiterates its Buy rating on Baby Bunting and believes the company is still in its early stages of evolution and the story has a way to develop.

Post the guidance downgrade, the analyst lowers EPS forecasts by -8% for FY26 and FY27, while lifting FY28 estimate by 8%. The FY26 downgrade aligns with the trading update from management.

The FY27 downgrade reflects softer sales and higher costs to weigh on earnings forecasts. Changes to assumed D&A boost the FY28 EPS forecast.

Looking ahead, the broker emphasises there is a "long-tail" of store refurbishments, over 50% of the network as well as ongoing large store rollout. Some 35% of the Australian population does not have a Baby Bunting store near them.

Target price is lowered to $2.70 from $3.30.

Target price is $2.70 Current Price is $1.47 Difference: $1.23
If BBN meets the Citi target it will return approximately 84% (excluding dividends, fees and charges).

Current consensus price target is $2.72, suggesting upside of 92.9% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.9

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

Morgan Stanley rates BBN as Overweight (1) -

At first look. Morgan Stanley highlights the FY26 trading downgrade from Baby Bunting was due to weaker sales for non-refurbished stores and lower sales redirection from closed stores.

Management's guidance is an -8.3% downgrade at the midpoint against consensus forecasts. Against the weak consumer macro backdrop, the analyst doesn't view the update as surprising in light of recent announcements from retailers.

The broker views the trading headwinds as temporary and believes growth for Baby Bunting will reaccelerate in FY27.

Overweight and $3.60 target. Industry view: In Line.

Target price is $3.60 Current Price is $1.47 Difference: $2.13
If BBN meets the Morgan Stanley target it will return approximately 145% (excluding dividends, fees and charges).

Current consensus price target is $2.72, suggesting upside of 92.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.9

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

Morgans rates BBN as Accumulate (2) -

Morgans details the FY26 trading update for Baby Bunting which was softer than anticipated and represented a downgrade in net profit after tax guidance at the mid-point of -11%.

The downgrade was attributed to weaker trading conditions over 4Q26, notably in the non-refurbished stores, as well as weaker demand around higher-ticket price items such as prams and car safety.

The analyst highlights that newly refurbished stores have continued to trade well with sales rising 16% in 2H and up 18% y/y, albeit the growth rate has slowed from 25% announced in 1H26. Management's FY26 target range is 15%-25% growth.

Morgans continues to be positive on the refurbishment of old stores, although the broker acknowledges the downgrade was disappointing.

EPS forecasts are trimmed accordingly. Target price slips to $1.70 from $1.90. No change to Accumulate rating.

Target price is $1.70 Current Price is $1.47 Difference: $0.23
If BBN meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $2.72, suggesting upside of 92.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.9

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

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

Ord Minnett has a positive take on Baby Bunting's FY26 trading update, highlighting pro-forma net profit after tax to rise between 32%-40%, although the update is lower than management's prior guidance, by -11%.

The analyst notes sales growth of 6% for FY26 is now flagged which is slightly below forecast with 2H26 comparable store sales coming in around -3% below management's target of 6%-8% growth.

Gross margins are expected to be above 41% for FY26 with 2H26 coming at around 41.5%.

The broker lowers earnings forecasts by -5% to -9% for FY26-FY28 and upgrades the stock to Buy from Accumulate.

Target price slips to $2.30 from $2.80.

Target price is $2.30 Current Price is $1.47 Difference: $0.83
If BBN meets the Ord Minnett target it will return approximately 56% (excluding dividends, fees and charges).

Current consensus price target is $2.72, suggesting upside of 92.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.9

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

Macquarie rates BHP as Neutral (3) -

Macquarie has increased its long term copper price forecast by 4% to US$4.63/lb with 10%/9%/7% increases from 2028-2030. Macquarie's copper price outlook is now in line with consensus across all time horizons.

The broker's updated long term price is some -25% below current spot copper prices of US$6.15/lb.

BHP Group's target rises to $57 from $56, Neutral retained. Movements in iron ore, copper, and coal prices present the most significant upside and downside risks to Macquarie's earnings forecasts and valuation.

Target price is $57.00 Current Price is $59.50 Difference: minus $2.5 (current price is over target).
If BHP meets the Macquarie target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $59.73, suggesting upside of 2.0% (ex-dividends)

The company's fiscal year ends in June.

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: 0.2

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

Macquarie rates BPT as Underperform (5) -

After a 1H26 windfall, Macquarie lowers oil prices to below consensus in 2027. The Strait of Hormuz flow path is key. Macquarie expects heavy oversupply in 2027, with restocking demand a key swing factor.

The broker has cut earnings forecasts across its coverage.

Macquarie's top picks are Santos in large caps and Amplitude Energy in small-medium. Beach Energy's target falls to 75c from 85c, Underperform retained.

Target price is $0.75 Current Price is $0.86 Difference: minus $0.11 (current price is over target).
If BPT 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 $0.99, suggesting upside of 19.8% (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

Citi rates BWP as Buy (1) -

Citi views the May CPI underpins some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered as a near-term positive for A-REITS, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail, industrial.

Conversely, fund managers and highly geared REITS exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group ((SCG)) as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres ((VCX)) are inflation plays.

Goodman Group ((GMG)) and BWP Trust are defensive. Stockland ((SGR)), Gemlife Communities Group ((GLF)) and Apsen Group ((APZ)) for a recovery in housing affordability.

Buy. Target $4.

Target price is $4.00 Current Price is $3.91 Difference: $0.09
If BWP meets the Citi target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $3.97, suggesting downside of -0.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.3

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

Bell Potter rates CCV as Initiation of coverage with Buy (1) -

Cash Converters International provides unsecured lending and second-hand retail services in Australia, New Zealand, the United Kingdom and other international markets.

Cash Converters has embarked on an aggressive acquisition strategy, Bell Potter notes, having bought back 120 franchises since FY21 across A&NZ and the UK, with the company now controlling some 30% of the global Cash Converters branded store network.

Bell Potter views the company's scale, global brand recognition and acquisition pipeline as competitive advantages that position its retail business to capitalise on growing demand for second-hand goods, supported by cost-of-living pressures and increasing consumer appreciation of the circular economy.

Bell Potter initiates coverage with a Buy rating and 34c target.

Target price is $0.34 Current Price is $0.30 Difference: $0.045
If CCV meets the Bell Potter target it will return approximately 15% (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 CHC as Buy (1) -

Citi views the May CPI as underpinning some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered a near-term positive for A-REITs, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail and industrial.

Conversely, fund managers and highly geared REITs exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group ((SCG)) as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres ((VCX)) are inflation plays.

Goodman Group ((GMG)) and BWP Trust ((BWP)) are defensive. Stockland ((SGR)), Gemlife Communities Group and Aspen Group ((APZ)) for a recovery in housing affordability.

Today's update identifies Charter Hall as traditionally the highest beta stock to bond yields. Buy rated. Target $26.50.

Target price is $26.50 Current Price is $23.16 Difference: $3.34
If CHC meets the Citi target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $24.27, suggesting upside of 3.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.9

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

Citi rates CKF as Buy (1) -

Ahead of Collins Foods FY26 result, the QSR will be cycling a "modest" trading update for the first eight weeks of FY26, Citi explains with same store sales (SSS) growth of 1.6% in Australia, -0.2% in the Netherlands and 1.3% growth in Germany.

Looking out to 1H27, the analyst points out comps for SSS growth will be more challenging with 1H26 SSS of 2.3%. Consensus forecasts for 1H27 stand at 2.5% in Australia and 2.9% for Europe.

The broker believes there is possible upside as KFC previously lowered delivery fees on the Uber Eats and DoorDash in 2H2025, and flow through benefits may continue.

Buy rated with a $10.30 target price.

Target price is $10.30 Current Price is $8.35 Difference: $1.95
If CKF meets the Citi target it will return approximately 23% (excluding dividends, fees and charges).

Current consensus price target is $10.89, suggesting upside of 31.6% (ex-dividends)

The company's fiscal year ends in April.

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 CNB as Outperform (1) -

Macquarie has increased its long term copper price forecast by 4% to US$4.63/lb with 10%/9%/7% increases from 2028-2030. Macquarie's copper price outlook is now in line with consensus across all time horizons.

The broker's updated long term price is some -25% below current spot copper prices of US$6.15/lb.

Movements in copper prices that vary compared to forecasts present risks to Macquarie's Carnaby Resources earnings and valuation. Target rises to 85c from 80c, Outperform retained.

Target price is $0.85 Current Price is $0.60 Difference: $0.255
If CNB meets the Macquarie target it will return approximately 43% (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 CSC as Outperform (1) -

Macquarie has increased its long term copper price forecast by 4% to US$4.63/lb with 10%/9%/7% increases from 2028-2030. Macquarie's copper price outlook is now in line with consensus across all time horizons.

The broker's updated long term price is some -25% below current spot copper prices of US$6.15/lb.

Movements in copper prices present the key risks to Macquarie's earnings forecasts and valuation for Capstone Copper. Target rises to $18.30 from $18.00.

Target price is $18.30 Current Price is $14.15 Difference: $4.15
If CSC meets the Macquarie target it will return approximately 29% (excluding dividends, fees and charges).

Current consensus price target is $16.62, suggesting upside of 26.6% (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 FFM as Outperform (1) -

Macquarie has increased its long term copper price forecast by 4% to US$4.63/lb with 10%/9%/7% increases from 2028-2030. Macquarie's copper price outlook is now in line with consensus across all time horizons.

The broker's updated long term price is some -25% below current spot copper prices of US$6.15/lb.

Movements in copper and gold prices as well as exchange rates present the key risks to Macquarie's earnings forecasts and valuation for FireFly Metals. Target rises to $2.70 from $2.50, Outperform retained.

Target price is $2.70 Current Price is $1.82 Difference: $0.885
If FFM meets the Macquarie target it will return approximately 49% (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

Macquarie rates FMG as Outperform (1) -

Movements in iron ore prices present the most significant upside and downside risks to Macquarie's earnings forecasts and valuation.

Variances in assumptions (production, capex, opex of both core assets, and the Iron Bridge Magnetite Project) versus the broker's base case present material risks both to the upside and downside to earnings forecasts and valuation.

Outperform and $22 target retained for Fortescue.

Target price is $22.00 Current Price is $19.25 Difference: $2.75
If FMG meets the Macquarie target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $20.03, suggesting upside of 5.8% (ex-dividends)

The company's fiscal year ends in June.

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: -0.1

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

Citi rates GLF as Buy (1) -

Citi views the May CPI underpins some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered as a near-term positive for A-REITS, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail, industrial.

Conversely, fund managers and highly geared REITS exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group ((SCG)) as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres ((VCX)) are inflation plays.

Goodman Group ((GMG)) and BWP Trust ((BWP)) are defensive. Stockland ((SGR)), Gemlife Communities Group and Aspen Group ((APZ)) for a recovery in housing affordability.

Buy. Target $5.50.

Target price is $5.50 Current Price is $4.57 Difference: $0.93
If GLF meets the Citi target it will return approximately 20% (excluding dividends, fees and charges).

Current consensus price target is $5.49, suggesting upside of 19.5% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.9

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

Citi rates GMG as Buy (1) -

Citi believes Prologis' unsolicited all-stock bid for UK logistics group Segro highlights the strategic value of Goodman Group's portfolio of powered development sites and data centre pipeline.

In the broker's view, the offer validates the scarcity value of secured power infrastructure and metropolitan development land as global data centre demand accelerates.

Goodman is seen as better positioned than many peers, with 6.4GW of power capacity, around $18bn of work in progress, of which 73% is data centres, and a development pipeline benefiting from tightening global power constraints.

The analyst also notes operating fundamentals remain solid, with high occupancy, positive rental growth and FY26 earnings guidance tracking in line with expectations.

Buy rated with a $40 target.

Target price is $40.00 Current Price is $31.83 Difference: $8.17
If GMG meets the Citi target it will return approximately 26% (excluding dividends, fees and charges).

Current consensus price target is $34.73, suggesting upside of 8.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.9

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

Citi rates GPT as Buy (1) -

Citi observes Australian office has continued to improve off what the analyst describes as a challenging base. An improving supply-demand backdrop is flagged from FY28.

The Sydney vacancy rate has fallen to 14.1%, the best result (quarterly) in years, the broker expresses. Melbourne, by contrast continues to decline to 19.7% as corporate downsizing and a challenging secondary market impact.

Flight to quality is a major theme, Citi states, with prime assets doing well. Sydney is also noted for a more challenging pipeline, post 2027 which underpins the analyst's positive view on rents.

GPT Group is Buy rated with a $6 target. 

Target price is $6.00 Current Price is $5.03 Difference: $0.97
If GPT meets the Citi target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $5.45, suggesting upside of 7.1% (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

Bell Potter rates INR as Speculative Buy (1) -

ioneer has announced it has entered into non-binding letters of intent with the Korean Overseas Infrastructure & Urban Development Corporation (KIND) and the Korean Ministry of Land, Infrastructure & Transport (MOLIT) for investments in overseas projects.

Hyundai Engineering Co. is also noted for entering a non-binding LOI to advance the development of Rhyolite Ridge.

Bell Potter believes the letters of intent, albeit, non-binding as an "endorsement" of the company's project development outlook.

Management are seeking strategic partnering for new project-level equity funding for the final investment decision at Rhyolite Ridge. The broker believes it is feasible to assume the above mentioned parties are part of this process.

Target price rises to 40c from 39c with no change in Speculative rating.

Target price is $0.40 Current Price is $0.16 Difference: $0.245
If INR meets the Bell Potter target it will return approximately 158% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

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

Morgan Stanley rates JIN as Downgrade to Equal-weight from Overweight (3) -

Morgan Stanley downgrades Jumbo Interactive to Equal-weight from an Overweight rating with a lower target price of $8.40 from $14.50.

The steep target price downgrade has resulted from the broker lowering Lottery total transaction volumes (TTV) assumptions by -11% and -14% for FY26-FY28.

Accordingly, EPS forecasts have been downgraded by -28% to -34% for FY26-FY28 on reduced ticket sales and higher D&A.

The analyst's jackpot tracker infers year-to-date stocks are down -18% y/y with a further decline in rates over 2H26 to -27% h/h versus 1H26 sales of down -11% h/h.

Even though the stock is trading at a "trough" valuation multiple. Morgan Stanley sees little scope for a re-rating until growth improves and overhangs around UK regulations and The Lottery Corporation ((TLC)) are resolved.

Industry view: In Line.

Target price is $8.40 Current Price is $7.36 Difference: $1.04
If JIN meets the Morgan Stanley target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $10.42, suggesting upside of 71.1% (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

Macquarie rates KAR as Neutral (3) -

After a 1H26 windfall, Macquarie lowers oil prices to below consensus in 2027. The Strait of Hormuz flow path is key. Macquarie expects heavy oversupply in 2027, with restocking demand a key swing factor.

The broker has cut earnings forecasts across its coverage.

Macquarie's top picks are Santos in large caps and Amplitude Energy in small-medium. Karoon Energy's target falls to $1.45 from $1.50, Neutral retained.

Target price is $1.45 Current Price is $1.37 Difference: $0.08
If KAR meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $1.82, suggesting upside of 40.8% (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: 0.4

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

Bell Potter rates KYP as Buy (1) -

Bell Potter expects Kinatico to provide a 4Q26 trading update in July and anticipates continued steady growth in all the key metrics. 

The stock looks value to the broker on an FY27 enterprise vale to earnings and PE ratio of 6x and 14x respectively. These multiples reflect some earnings contribution from KC (campaign featuring a kelpie) but it will still be relatively modest given the platform was only launched in 2H26.

Buy and 36c target unchanged.

Target price is $0.36 Current Price is $0.14 Difference: $0.22
If KYP meets the Bell Potter target it will return approximately 157% (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 LLC as Buy (1) -

Lendlease Group has announced the "much awaited" sale according to Citi of the balancing 25.1% stake in the Australian retirement business, Keyton to the existing owner Aware Super.

The agreed price is $525m which aligns with book value. The analyst views this as a positive result against the loss recognised on the recent Italian asset sale.

Settlement is anticipated in 1H27 with management indicating more asset sales in the near-term, the broker points out.

This brings asset sales to -$3.4bn since the May 2024 strategy day, where -$4.5bn were announced as the target. Buy rated with a $4.50 target price.

Target price is $4.50 Current Price is $2.91 Difference: $1.59
If LLC meets the Citi target it will return approximately 55% (excluding dividends, fees and charges).

Current consensus price target is $3.90, suggesting upside of 22.6% (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

UBS rates LYC as Buy (1) -

UBS remains positive on the rare earths sector, citing stronger policy support, increasing corporate activity and ongoing efforts by Western economies to reduce reliance on Chinese supply chains.

Energy Fuels' proposed acquisition of German magnet manufacturer Vacuumschmelze is viewed as another step towards building an integrated Western mine-to-magnet supply chain, which could accelerate industry development and improve pricing transparency.

Iluka Resources' ((ILU)) first binding rare earths offtake agreement is expected to unlock the remaining $400m in EFA funding and provide scope for further customer agreements as the Western market develops.

The broker retains a positive view on Lynas Rare Earths, noting the delay to the Malaysian LAMP expansion is a regulatory setback rather than a structural issue, and should not derail the company's long-term heavy rare earths strategy.

Buy rated. Target $23.65.

Target price is $23.65 Current Price is $19.34 Difference: $4.31
If LYC meets the UBS target it will return approximately 22% (excluding dividends, fees and charges).

Current consensus price target is $18.10, suggesting downside of -2.6% (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

Citi rates MGR as Neutral (3) -

Citi views the May CPI underpins some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered as a near-term positive for A-REITS, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail, industrial.

Conversely, fund managers and highly geared REITS exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group ((SCG)) as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres ((VCX)) are inflation plays.

Goodman Group ((GMG)) and BWP Trust ((BWP)) are defensive. Stockland ((SGR)), Gemlife Communities Group and Aspen Group ((APZ)) for a recovery in housing affordability.

Mirvac Group has traditionally been one of the highest beta stock to bond yields. Neutral rated. Target $1.84.

Target price is $1.84 Current Price is $1.74 Difference: $0.105
If MGR meets the Citi target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $1.99, suggesting upside of 12.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.3

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

Macquarie rates MIN as Outperform (1) -

Movements in spot iron-ore and spodumene prices present the most material risk to Macquarie's earnings forecasts for Mineral Resources. Outperform retained, target falls to $87 from $90.

Target price is $87.00 Current Price is $65.86 Difference: $21.14
If MIN meets the Macquarie target it will return approximately 32% (excluding dividends, fees and charges).

Current consensus price target is $78.20, suggesting upside of 22.2% (ex-dividends)

The company's fiscal year ends in June.

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

Citi rates NXT as Buy (1) -

NextDC has acquired a 169 hectare site in Geelong for $165m. Citi explains the land parcel is around 6x the size of S7 which the data centre operator acquired for $353m in 2024.

Management didn't proffer any insights into the target capacity for the new site, but the analyst estimates the capacity will be 1GW-plus, which would represent around 2x the current planned capacity in Victoria of 514MWs.

The company highlighted the relatively "low cost" of the site, and the development is expected to be faster and only a single level structure.

The stock is Buy rated with a $19.10 target price.

Target price is $19.10 Current Price is $14.90 Difference: $4.2
If NXT meets the Citi target it will return approximately 28% (excluding dividends, fees and charges).

Current consensus price target is $19.58, suggesting upside of 32.5% (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 RIO as Neutral (3) -

Macquarie has increased its long term copper price forecast by 4% to US$4.63/lb with 10%/9%/7% increases from 2028-2030. Macquarie's copper price outlook is now in line with consensus across all time horizons.

The broker's updated long term price is some -25% below current spot copper prices of US$6.15/lb.

Neutral and $188 target retained for Rio Tinto. Movements in iron ore, aluminium, and copper prices present the most significant upside and downside risks to Macquarie's earnings forecasts and valuation.

Target price is $188.00 Current Price is $173.92 Difference: $14.08
If RIO meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $178.25, suggesting upside of 4.9% (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: 0.1

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

Macquarie rates S32 as Neutral (3) -

Movements in aluminium, alumina, nickel, coal, copper, and manganese prices present the most significant upside and downside risks to Macquarie's earnings forecasts and valuation for South32. Target falls to $4.00 from $4.60, Neutral retained.

Target price is $4.00 Current Price is $4.06 Difference: minus $0.06 (current price is over target).
If S32 meets the Macquarie target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $4.98, suggesting upside of 26.6% (ex-dividends)

The company's fiscal year ends in June.

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: 0.8

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

Citi rates SCG as Buy (1) -

Citi views the May CPI underpins some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered as a near-term positive for A-REITS, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail, industrial.

Conversely, fund managers and highly geared REITS exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres ((VCX)) are inflation plays.

Goodman Group ((GMG)) and BWP Trust ((BWP)) are defensive. Stockland ((SGR)), Gemlife Communities Group ((GLF)) and Apsen Group ((APZ)) for a recovery in housing affordability.

Buy rating. Target $4.40.

Target price is $4.40 Current Price is $3.85 Difference: $0.55
If SCG meets the Citi target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $4.00, suggesting upside of 3.4% (ex-dividends)

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.3

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) -

Macquarie has increased its long term copper price forecast by 4% to US$4.63/lb with 10%/9%/7% increases from 2028-2030. Macquarie's copper price outlook is now in line with consensus across all time horizons.

The broker's updated long term price is some -25% below current spot copper prices of US$6.15/lb.

Movements in copper and zinc prices present the key risks to Macquarie's earnings forecasts and valuation for Sandfire Resources. Downgrade to Neutral from Outperform, target unchanged at $21.00.

Target price is $21.00 Current Price is $19.67 Difference: $1.33
If SFR meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $18.32, suggesting downside of -3.6% (ex-dividends)

The company's fiscal year ends in June.

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: -0.1

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

Citi rates SGP as Neutral (3) -

Citi views the May CPI underpins some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered as a near-term positive for A-REITS, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail, industrial.

Conversely, fund managers and highly geared REITS exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group ((SCG)) as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres ((VCX)) are inflation plays.

Goodman Group ((GMG)) and BWP Trust ((BWP)) are defensive. Stockland, Gemilife Communities Group ((GLF)) and Aspen Group ((APZ)) for a recovery in housing affordability.

Neutral rating and $4.30 target.

Target price is $4.30 Current Price is $4.17 Difference: $0.13
If SGP meets the Citi target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $4.75, suggesting upside of 12.4% (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

Macquarie rates STO as Outperform (1) -

After a 1H26 windfall, Macquarie lowers oil prices to below consensus in 2027. The Strait of Hormuz flow path is key. Macquarie expects heavy oversupply in 2027, with restocking demand a key swing factor.

The broker has cut earnings forecasts across its coverage.

Macquarie's top picks are Santos in large caps and Amplitude Energy in small-medium. Santos' target falls to $8.90 from $9.15, Outperform retained.

Target price is $8.90 Current Price is $7.24 Difference: $1.66
If STO meets the Macquarie target it will return approximately 23% (excluding dividends, fees and charges).

Current consensus price target is $8.28, suggesting upside of 17.5% (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: 0.6

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

Macquarie rates STX as Neutral (3) -

After a 1H26 windfall, Macquarie lowers oil prices to below consensus in 2027. The Strait of Hormuz flow path is key. Macquarie expects heavy oversupply in 2027, with restocking demand a key swing factor.

The broker has cut earnings forecasts across its coverage.

Macquarie's top picks are Santos in large caps and Amplitude Energy in small-medium. Strike Energy's target falls to 10c from 11c, Neutral retained.

Target price is $0.10 Current Price is $0.10 Difference: $0.002
If STX meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $0.15, suggesting upside of 46.7% (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

Morgans rates TEA as Downgrade to Accumulate from Buy (2) -

Post the acquisition of Maxim earlier in May, Tasmea has announced the agreement to acquire JPS Group, which Morgans points out is a specialist integrated services provider to the energy sector.

The cost is $75m, including earn-outs with a $50m upfront payment, valuing the company at 5x FY26 earnings (EBIT).

The analyst notes JPS brings forth scale and growth to the underperforming Mechanical division. JPS is expected to double revenue by FY29.

Net profit after tax forecasts are upgraded by 6% for FY27 and 8% for FY28 with JPS assumed to continue to compound earnings growth around 20%.

EPS forecasts are lifted by 5% for FY27 and 6% for FY28. Target price rises to $9.80 from $9.15 with the rating downgraded to Accumulate from Buy due to valuation.

Target price is $9.80 Current Price is $9.65 Difference: $0.15
If TEA meets the Morgans target it will return approximately 2% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY26:

Forecast for FY27:

Market Sentiment: 0.3

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

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

Ord Minnett downgrades Tasmea to Hold from Accumulate on valuation grounds with a higher target price of $9.70 from $8.65.

This comes after the company announced it will acquire JPS Group for up to $75m, a specialist engineering and trade services provider.

The acquisition is expected to raise Tasmea's FY26 EPS by 5% and offers sectoral and earnings diversification into LNG, gas, and "critical energy" infrastructure.

The analyst notes customers include Santos ((STO)) and Woodside Energy ((WDS)).

EPS forecasts are trimmed by -3.4% for FY26. FY27-FY28 EPS forecasts are raised by 3.5% and 4.4%, respectively.

Target price is $9.70 Current Price is $9.65 Difference: $0.05
If TEA meets the Ord Minnett target it will return approximately 1% (excluding dividends, fees and charges).

Market Sentiment: 0.3

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

UBS rates TLS as Neutral (3) -

UBS' latest Australian Telecom Consumer Survey showed both Telstra Group and Vodafone have experienced a rise in consumers communicating they are not expecting to change their provider/plan if prices are $4–$5-plus/month.

Optus is noted as the operator which continues to lose customers with a –10ppt reduction.

The analyst also points out there has been a stabilisation in Premium brand market share in the survey. Telstra, Vodafone and Optus branded customers have plateaued at 70%.

Customers have also indicated they are using AI apps on their phones regularly.

UBS reiterates a Neutral rating on Telstra Group with a $5.30 target price.

Target price is $5.30 Current Price is $5.11 Difference: $0.19
If TLS meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).

Current consensus price target is $5.37, suggesting upside of 4.4% (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

UBS rates TPG as Neutral (3) -

UBS' latest Australian Telecom Consumer Survey showed both Telstra Group and Vodafone have experienced a rise in consumers communicating they are not expecting to change their provider/plan if prices are $4–$5-plus/month.

Optus is noted as the operator which continues to lose customers with a -10ppt reduction.

The analyst also points out there has been a stabilisation in Premium brand market share in the survey. Telstra, Vodafone and Optus branded customers have plateaued at 70%.

Customers have also indicated they are using AI apps on their phones regularly.

UBS reiterates a Neutral rating on TPG Telecom with a $3.97 target price.

Target price is $3.97 Current Price is $3.68 Difference: $0.29
If TPG meets the UBS target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $4.02, suggesting upside of 10.5% (ex-dividends)

The company's fiscal year ends in December.

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

Citi rates VCX as Neutral (3) -

Citi views the May CPI underpins some "relief" for Australian real estate. The broker's economists have moved an expected RBA rate hike to November, which is considered as a near-term positive for A-REITS, relieving the most intense pressure on finance costs.

The impact is not uniform across the different segments, the analyst stresses. Higher inflation is better for landlords with CPI-linked leases such as retail, industrial.

Conversely, fund managers and highly geared REITS exposed to a further bond yield sell-off are more sensitive to higher inflation.

The analyst states Scentre Group ((SCG)) as the structural winner as its above-peers financing costs trend lower. Scentre and Vicinity Centres are inflation plays.

Goodman Group ((GMG)) and BWP Trust ((BWP)) are defensive. Stockland ((SGR)), Gemlife Communities Group ((GLF)) and Apsen Group ((APZ)) for a recovery in housing affordability.

Neutral rated. Target $2.70.

Target price is $2.70 Current Price is $2.58 Difference: $0.12
If VCX meets the Citi target it will return approximately 5% (excluding dividends, fees and charges).

Current consensus price target is $2.53, suggesting downside of -2.7% (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

UBS rates VEA as Buy (1) -

Viva Energy has flagged it expects the Geelong refinery catalytic cracker to return to service this week, post a mid-April fire.

As highlighted by UBS, production is expected to rise back to 90%, and is anticipated to be sustained at that level for over 18 months. The damaged alkylation unit will be repaired over this period.

EPS forecasts are raised by 10% for FY26 and 1% for FY27. Target price moves to $2.70, from $2.65 with a Buy rating retained.

The FY26 EPS upgrades reflect lower costs assumed for gasoline, diesel and jet fuel compared to the costs for procurement during the outage.

Over the next 18 months, UBS estimates US$2/bbl–US$3/bbl higher refining margins.

Target price is $2.70 Current Price is $2.03 Difference: $0.67
If VEA meets the UBS target it will return approximately 33% (excluding dividends, fees and charges).

Current consensus price target is $2.88, suggesting upside of 40.4% (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 WDS as Neutral (3) -

After a 1H26 windfall, Macquarie lowers oil prices to below consensus in 2027. The Strait of Hormuz flow path is key. Macquarie expects heavy oversupply in 2027, with restocking demand a key swing factor.

The broker has cut earnings forecasts across its coverage.

Macquarie's top picks are Santos in large caps and Amplitude Energy in small-medium. Woodside Energy's target falls to $30 from $33, Neutral retained.

Target price is $30.00 Current Price is $28.24 Difference: $1.76
If WDS meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $29.44, suggesting upside of 7.8% (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: -0.3

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

Bell Potter rates WRK as Speculative Buy (1) -

While Bell Potter expects strong early metrics from Wrkr's platform, the outlook now reads less positive on closer look.

Wrkr has mapped out $12m of insurance and detailed the next $10m expansion phase, which could grow into a similarly sized standalone.

Either this gains pace, Bell Potter suggests, Rest and AustralianSuper benefit in isolation, or new MUFG clients are signed.

Target falls to 15c from 17.5c, Speculative Buy retained.

Target price is $0.15 Current Price is $0.09 Difference: $0.058
If WRK meets the Bell Potter target it will return approximately 63% (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