Australian Broker Call
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October 07, 2022
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1).
Last Updated: 05:00 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.
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Overnight Price: $1.68
Macquarie rates AFG as Outperform (1) -
While Home Loan lodgements for Australian Finance Group declined by -21% in the September quarter, Macquarie makes no changes to its earnings forecasts or its $2.09 target price.
The broker has confidence earnings will increase as cash rates stabilise and housing markets settle, and retains its Outperform rating.
Target price is $2.09 Current Price is $1.68 Difference: $0.41
If AFG meets the Macquarie target it will return approximately 24% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 16.50 cents and EPS of 20.60 cents. |
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 16.90 cents and EPS of 21.80 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ANZ AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Banks
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Overnight Price: $24.39
Ord Minnett rates ANZ as Accumulate (2) -
Ord Minnett notes market cash rate pricing points to a December cash rate of 3.0%, versus the 3.3% envisaged in early September, and a peak rate of 3.7% in July 2023.
Since the first rate hike in April, the broker notes banks have been lagging in increasing deposit rates, which is a positive near-term tailwind for margins.
Ord Minnett assesses CommBank has the best rate leverage of the major banks, while ANZ Bank has the least.
The Accumulate rating and $24.70 target for ANZ Bank are unchanged.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $24.70 Current Price is $24.39 Difference: $0.31
If ANZ meets the Ord Minnett target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $26.58, suggesting upside of 9.1% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 144.00 cents and EPS of 204.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 211.3, implying annual growth of -1.9%. Current consensus DPS estimate is 141.8, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 11.5. |
Forecast for FY23:
Ord Minnett forecasts a full year FY23 dividend of 152.00 cents and EPS of 214.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 219.3, implying annual growth of 3.8%. Current consensus DPS estimate is 149.0, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 11.1. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components
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Overnight Price: $11.65
Morgans rates APE as Add (1) -
While Morgans expects demand for Australian new car sales will slow, there is only limited evidence to support this view to-date. Auto retailer order books are expected to help smooth any slowdown impact.
This view comes as September new vehicle sales rose 6.1% on September 2019 levels and increased by 12.1% on the previous corresponding period.
Current deliveries are more reflective of global supply constraints rather than higher demand, explains the analyst.
Morgans retains its Add rating and $14.58 target for Eagers Automotive. It's noted the company has recently gained strong market share in new territory via an acquisition in the ACT.
Target price is $14.58 Current Price is $11.65 Difference: $2.93
If APE meets the Morgans target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $14.30, suggesting upside of 22.8% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 67.00 cents and EPS of 111.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 106.0, implying annual growth of -15.4%. Current consensus DPS estimate is 64.6, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 11.0. |
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 70.00 cents and EPS of 107.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 102.4, implying annual growth of -3.4%. Current consensus DPS estimate is 61.6, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.94
Ord Minnett rates APX as Sell (5) -
Ord Minnett maintains its Sell rating for Appen and lowers its target price to $2.60 from $3.00 after yet another operating earnings (EBITDA) downgrade.
Second half earnings guidance (the most severely impacted) was lowered by -72% on slowing customer spending and higher product and technology costs, which suggests to the analyst management has limited visibility on earnings and little confidence in a recovery.
2022 revenue is now expected to be US$375-395m compared to the consensus expectation for US$409m.
The company did not provide any clear guidance for an earnings recovery trajectory, points out the broker and there's considered to be looming balance sheet risk, with the potential need to raise funds for working capital.
Target price is $2.60 Current Price is $2.94 Difference: minus $0.34 (current price is over target).
If APX meets the Ord Minnett target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.28, suggesting upside of 14.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -0.8, implying annual growth of N/A. Current consensus DPS estimate is 0.5, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY23:
Ord Minnett forecasts a full year FY23 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 2.3, implying annual growth of N/A. Current consensus DPS estimate is 0.5, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is 124.8. |
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASB AUSTAL LIMITED
Commercial Services & Supplies
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Overnight Price: $2.40
Ord Minnett rates ASB as Lighten (4) -
Austal is now clear to proceed with design work for future offshore patrol cutter (OPC) production, now that a protest from a third party regarding the contract award has been withdrawn, explains Ord Minnett.
The likelihood of the protest succeeding was small, according to the broker. The Lighten rating and $2.40 target are unchanged.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $2.40 Current Price is $2.40 Difference: $0
If ASB meets the Ord Minnett target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $3.00, suggesting upside of 26.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Ord Minnett forecasts a full year FY23 dividend of 8.00 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.3, implying annual growth of -12.4%. Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 12.3. |
Forecast for FY24:
Ord Minnett forecasts a full year FY24 dividend of 8.00 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.2, implying annual growth of -21.2%. Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 15.7. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.51
Morgans rates BAP as Hold (3) -
While Morgans expects demand for Australian new car sales will slow, there is only limited evidence to support this view to-date. Auto retailer order books are expected to help smooth any slowdown impact.
This view comes as September new vehicle sales rose 6.1% on September 2019 levels and increased by 12.1% on the previous corresponding period.
Current deliveries are more reflective of global supply constraints rather than higher demand, explains the analyst.
Morgans retains its Hold rating and $7.36 target for Bapcor.
Target price is $7.36 Current Price is $6.51 Difference: $0.85
If BAP meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $7.86, suggesting upside of 20.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 22.50 cents and EPS of 40.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.5, implying annual growth of 12.0%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 15.7. |
Forecast for FY24:
Morgans forecasts a full year FY24 dividend of 23.90 cents and EPS of 43.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.2, implying annual growth of 8.9%. Current consensus DPS estimate is 25.3, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $40.76
Macquarie rates BHP as Outperform (1) -
Climate change, biodiversity and nature, and the approach to sexual harassment were topics discussed during an online ESG roundtable held by BHP Group.
The company noted sexual harassment is a key risk, highlights Macquarie, and also updated on iron ore's plans to achieve its net zero target by 2050 via initiatives including including green electricity, battery-powered trucks and trains.
The Outperform rating and $45.00 target are unchanged.
Target price is $45.00 Current Price is $40.76 Difference: $4.24
If BHP meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $41.52, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 261.38 cents and EPS of 348.37 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 497.7, implying annual growth of N/A. Current consensus DPS estimate is 361.8, implying a prospective dividend yield of 9.0%. Current consensus EPS estimate suggests the PER is 8.0. |
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 307.76 cents and EPS of 409.64 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 421.0, implying annual growth of -15.4%. Current consensus DPS estimate is 309.3, implying a prospective dividend yield of 7.7%. Current consensus EPS estimate suggests the PER is 9.5. |
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
Morgan Stanley rates BHP as Equal-weight (3) -
After visiting BHP Group's new South flank iron ore operations, Morgan Stanley notes the ramp-up is progressing well. The analyst highlights 40% of the workforce is female.
The tour also took in the company's Mining Area C (MAC) operation in the Pilbara region, which the broker believes will be long life and low cost. Management sees a third of the resource base being very close to the MAC hub.
The trip highlighted to the broker the complexity in adding capacity to ageing infrastructure.
While Morgan Stanley feels management is conservative in maintaining production guidance, the Equal-weight rating and $43.20 target are retained. Industry View: Attractive.
Target price is $43.20 Current Price is $40.76 Difference: $2.44
If BHP meets the Morgan Stanley target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $41.52, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Morgan Stanley forecasts a full year FY23 dividend of 313.38 cents and EPS of 439.85 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 497.7, implying annual growth of N/A. Current consensus DPS estimate is 361.8, implying a prospective dividend yield of 9.0%. Current consensus EPS estimate suggests the PER is 8.0. |
Forecast for FY24:
Morgan Stanley forecasts a full year FY24 dividend of 224.85 cents and EPS of 320.41 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 421.0, implying annual growth of -15.4%. Current consensus DPS estimate is 309.3, implying a prospective dividend yield of 7.7%. Current consensus EPS estimate suggests the PER is 9.5. |
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
Overnight Price: $6.98
Credit Suisse rates BOQ as Outperform (1) -
Ahead of Bank of Queensland's full year results release, Credit Suisse expects the bank will deliver $492m in cash earnings which remains -4.7% below consensus forecasts.
The broker is looking for net interest margin expansion with the result driving by low-cost deposits, but with larger and earlier than expected rate hikes offering further upside.
The Outperform rating and target price of $10.00 are retained.
Target price is $10.00 Current Price is $6.98 Difference: $3.02
If BOQ meets the Credit Suisse target it will return approximately 43% (excluding dividends, fees and charges).
Current consensus price target is $8.66, suggesting upside of 25.6% (ex-dividends)
The company's fiscal year ends in August.
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 45.00 cents and EPS of 77.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 73.2, implying annual growth of 9.3%. Current consensus DPS estimate is 45.7, implying a prospective dividend yield of 6.6%. Current consensus EPS estimate suggests the PER is 9.4. |
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 54.00 cents and EPS of 81.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 73.4, implying annual growth of 0.3%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 7.2%. Current consensus EPS estimate suggests the PER is 9.4. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $11.64
Credit Suisse rates BXB as Outperform (1) -
Brambles' shares have declined -12% since August, but Credit Suisse feels risks are being overstated. The broker does not see significant concerns around excess inventories driving high pallet returns, but notes returns could allow Brambles to accommodate an additional 5-10% of the pallet pool and meet new customer demand.
Current forward foreign exchange rates have driven a -3.5% decline in Credit Suisse's earnings outlook for Brambles in FY23. The Outperform rating is retained and the target price increases to $14.85 from $14.40.
Target price is $14.85 Current Price is $11.64 Difference: $3.21
If BXB meets the Credit Suisse target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $13.30, suggesting upside of 14.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 52.52 cents and EPS of 62.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 72.9, implying annual growth of N/A. Current consensus DPS estimate is 37.7, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.9. |
Forecast for FY24:
Credit Suisse forecasts a full year FY24 dividend of 59.39 cents and EPS of 70.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 79.0, implying annual growth of 8.4%. Current consensus DPS estimate is 41.2, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 14.7. |
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
Overnight Price: $96.88
Ord Minnett rates CBA as Hold (3) -
Ord Minnett notes market cash rate pricing points to a December cash rate of 3.0%, versus the 3.3% envisaged in early September, and a peak rate of 3.7% in July 2023.
Since the first rate hike in April, the broker notes banks have been lagging in increasing deposit rates, which is a positive near-term tailwind for margins.
Ord Minnett assesses CommBank has the best rate leverage of the major banks, while ANZ Bank has the least.
The Hold rating and $90 target for CommBank are unchanged.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $90.00 Current Price is $96.88 Difference: minus $6.88 (current price is over target).
If CBA meets the Ord Minnett target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $89.90, suggesting downside of -6.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Ord Minnett forecasts a full year FY23 dividend of 445.00 cents and EPS of 586.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 576.0, implying annual growth of -7.9%. Current consensus DPS estimate is 422.3, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY24:
Ord Minnett forecasts a full year FY24 dividend of 430.00 cents and EPS of 567.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 586.0, implying annual growth of 1.7%. Current consensus DPS estimate is 441.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.5. |
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.75
Macquarie rates CNU as Neutral (3) -
Macquarie notes a -NZ$12m reduction by the New Zealand Commerce Commission compared to the draft starting regulated asset base (RAB) for Chorus, announced in December 2021.
The broker points out this reduction does not affect Chorus' maximum allowable revenue (MAR) for the first regulatory period 2022 to 2024 and leaves its earnings forecasts and NZ$7.82 target unchanged. Neutral.
Current Price is $6.75. Target price not assessed.
The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 32.97 cents and EPS of 14.41 cents. |
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 37.68 cents and EPS of 12.15 cents. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CSL CSL LIMITED
Pharmaceuticals & Biotech/Lifesciences
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Overnight Price: $290.20
Citi rates CSL as Buy (1) -
Citi finds there to be little therapeutic overlap between CSL and its new acquisition Vifor, but will look for further strategic rationale from the company at its upcoming investor day for Vifor. The broker also expects CSL to address how it will plan for Vifor's patent expiry risk.
CSL may also provide medium-term sales and margins targets to provide investors with better line of sight over Vifor's potential beyond covid.
The Buy rating and target price of $340.00 are retained.
Target price is $340.00 Current Price is $290.20 Difference: $49.8
If CSL meets the Citi target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $324.80, suggesting upside of 12.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Citi forecasts a full year FY23 dividend of 365.37 cents and EPS of 772.77 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 852.5, implying annual growth of N/A. Current consensus DPS estimate is 395.6, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 33.9. |
Forecast for FY24:
Citi forecasts a full year FY24 dividend of 420.18 cents and EPS of 979.48 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 1052.4, implying annual growth of 23.4%. Current consensus DPS estimate is 480.2, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 27.4. |
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
Morgan Stanley rates CSL as Overweight (1) -
Morgan Stanley awaits a clearer rationale behind the Vifor acquisition at the company's investor day on October 17. Vifor is (mostly) a chronic kidney disease (CKD) company.
The analyst sees good growth potential outside of the CKD population in the area of Patient Blood Management (PBM) via the Injectafer product. Recent revelations of a decline in the CKD patient population is considered unlikely to impact Injectafer revenues.
Morgan Stanley also sees growth for the Vifor drug Veltassa and lowly penetration of the general hyperkalemia patient population. This drug is expected to contribute 8-10% of Vifor's profit when the analyst looks at the FY21-26 period.
Separately, the broker's data on plasma collection centre rollouts show a 6% year-on-year increase for CSL. It's also noted fractionators are pointing to emerging signs of accelerating plasma collection volumes.
The Overweight rating and $323 target are retained. Industry View: In-line.
Target price is $323.00 Current Price is $290.20 Difference: $32.8
If CSL meets the Morgan Stanley target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $324.80, suggesting upside of 12.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Morgan Stanley forecasts a full year FY23 dividend of 456.44 cents and EPS of 775.72 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 852.5, implying annual growth of N/A. Current consensus DPS estimate is 395.6, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 33.9. |
Forecast for FY24:
Morgan Stanley forecasts a full year FY24 dividend of 581.23 cents and EPS of 958.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 1052.4, implying annual growth of 23.4%. Current consensus DPS estimate is 480.2, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 27.4. |
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
Overnight Price: $17.60
Macquarie rates FMG as Underperform (5) -
After attending a site tour of Fortescue Metals' Solomon hub in Western Australia, Macquarie notes new mining areas are being
opened, which continues to extend the life of the Firetail ore processing plant.
The analyst also concludes no major capital investment is required in the medium term.
The Underperform rating and $14.50 target price are unchanged.
Target price is $14.50 Current Price is $17.60 Difference: minus $3.1 (current price is over target).
If FMG meets the Macquarie target it will return approximately minus 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $16.05, suggesting downside of -7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 86.99 cents and EPS of 145.03 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 246.5, implying annual growth of N/A. Current consensus DPS estimate is 168.4, implying a prospective dividend yield of 9.7%. Current consensus EPS estimate suggests the PER is 7.0. |
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 95.70 cents and EPS of 159.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 181.8, implying annual growth of -26.2%. Current consensus DPS estimate is 125.0, implying a prospective dividend yield of 7.2%. Current consensus EPS estimate suggests the PER is 9.5. |
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
Overnight Price: $2.10
Macquarie rates IMD as Outperform (1) -
Macquarie assesses a strong start to the financial year for Imdex with all regions performing well in the 1Q. This follows an AGM trading update that came in around 10% ahead of the broker's forecasts.
The analyst believes the combination of growth in sensors on hire and average revenue per user (ARPU) will support further growth in the 2Q.
Longer term growth is also expected to be assisted by numerous factors including strong demand for metals and decarbonisation.
The target rises by 5.6% to $2.85. Outperform.
Target price is $2.85 Current Price is $2.10 Difference: $0.75
If IMD meets the Macquarie target it will return approximately 36% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 5.30 cents and EPS of 15.20 cents. |
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 5.10 cents and EPS of 14.70 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $12.50
Macquarie rates JIN as Outperform (1) -
Macquarie attributes an -11% decline in Australian lottery volumes (the broker's data) in the 1Q of FY23 to lower Powerball jackpot activity, which should normalise.
While the broker sees volume downgrade risks to FY23, forecasts into FY24 should be unchanged once normalisation occurs. It's noted lotteries are highly defensive and inelastic to economic conditions.
The Outperform rating and $18.05 target are maintained for Jumbo Interactive.
Target price is $18.05 Current Price is $12.50 Difference: $5.55
If JIN meets the Macquarie target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $17.01, suggesting upside of 40.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 43.50 cents and EPS of 57.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.8, implying annual growth of 15.9%. Current consensus DPS estimate is 44.3, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 21.0. |
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 49.00 cents and EPS of 65.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 66.3, implying annual growth of 14.7%. Current consensus DPS estimate is 50.1, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MFG MAGELLAN FINANCIAL GROUP LIMITED
Wealth Management & Investments
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Overnight Price: $10.75
Credit Suisse rates MFG as Neutral (3) -
An update from Magellan Financial shows large outflows continued in September, with funds under management missing Credit Suisse's expectations by -3%. The broker cut its earnings forecasts -3-4%, describing Magellan Financial's fund performance as remaining underwhelming.
While commentary from the company's full year year suggested excess cash will likely be retained for growth in Funds Management, Credit Suisse remains concerned around how long it will take for this to translate into value.
The Neutral rating is retained and the target price decreases to $10.90 from $11.40.
Target price is $10.90 Current Price is $10.75 Difference: $0.15
If MFG meets the Credit Suisse target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $10.89, suggesting upside of 2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 83.00 cents and EPS of 104.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 104.2, implying annual growth of -49.6%. Current consensus DPS estimate is 89.6, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY24:
Credit Suisse forecasts a full year FY24 dividend of 67.00 cents and EPS of 91.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 89.2, implying annual growth of -14.4%. Current consensus DPS estimate is 75.6, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 12.0. |
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates MFG as Hold (3) -
A -$3.2bn institutional outflow in September for Magellan Financial was higher than Morgans forecast, while Retail outflows have persisted at around -$400m. The group had $50.9bn of funds under management (FUM) at September 30, down by -11.6% for the month.
The broker fails to see how outflows will abate while the group's fees are positioned above the market. While further earnings pressure is expected and the target is lowered to $10.94 from 14.04, the Hold rating is kept due to a solid capital position.
Target price is $10.94 Current Price is $10.75 Difference: $0.19
If MFG meets the Morgans target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $10.89, suggesting upside of 2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 86.00 cents and EPS of 102.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 104.2, implying annual growth of -49.6%. Current consensus DPS estimate is 89.6, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY24:
Morgans forecasts a full year FY24 dividend of 75.00 cents and EPS of 91.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 89.2, implying annual growth of -14.4%. Current consensus DPS estimate is 75.6, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 12.0. |
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates MFG as Sell (5) -
Magellan Financial's funds under management took an -11.6% tumble in the last month, a combination of a -6.3% decline in flows and a -5.4% decline in investment returns.
Given the company's remaining $26bn of global equity funds appears split between retail and insto, UBS remains concerned about further revenue risk.
With a turnaround in the Global Fund performance key to restoring inflows for Magellan Financial, UBS sees little opportunity within the company's control. The broker expects a strategic update could offer a sharpening of investment processes and risk management.
The Sell rating is retained and the target price decreases to $9.80 from $10.30.
Target price is $9.80 Current Price is $10.75 Difference: minus $0.95 (current price is over target).
If MFG meets the UBS target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $10.89, suggesting upside of 2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
UBS forecasts a full year FY23 EPS of 100.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 104.2, implying annual growth of -49.6%. Current consensus DPS estimate is 89.6, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY24:
UBS forecasts a full year FY24 EPS of 80.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 89.2, implying annual growth of -14.4%. Current consensus DPS estimate is 75.6, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 12.0. |
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MTO MOTORCYCLE HOLDINGS LIMITED
Automobiles & Components
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Overnight Price: $2.59
Morgans rates MTO as Add (1) -
While Morgans expects demand for Australian new car sales will slow, there is only limited evidence to support this view to-date. Auto retailer order books are expected to help smooth any slowdown impact.
This view comes as September new vehicle sales rose 6.1% on September 2019 levels and increased by 12.1% on the previous corresponding period.
Current deliveries are more reflective of global supply constraints rather than higher demand, explains the analyst.
Morgans retains its Add rating and $3.42 target for Motorcycle Holdings. It's noted the company's recent OEM distributor acquisition improves geographic and product (agricultural market) diversification.
Target price is $3.42 Current Price is $2.59 Difference: $0.83
If MTO meets the Morgans target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 20.00 cents and EPS of 35.00 cents. |
Forecast for FY24:
Morgans forecasts a full year FY24 dividend of 18.00 cents and EPS of 38.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $30.27
Ord Minnett rates NAB as Accumulate (2) -
Ord Minnett notes market cash rate pricing points to a December cash rate of 3.0%, versus the 3.3% envisaged in early September, and a peak rate of 3.7% in July 2023.
Since the first rate hike in April, the broker notes banks have been lagging in increasing deposit rates, which is a positive near-term tailwind for margins.
Ord Minnett assesses National Australia Bank has the second best rate leverage of the major banks, behind CommBank.
The Accumulate rating and $32.70 target for National Australia Bank are unchanged.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $32.70 Current Price is $30.27 Difference: $2.43
If NAB meets the Ord Minnett target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $31.76, suggesting upside of 5.4% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 150.00 cents and EPS of 213.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 211.6, implying annual growth of 9.6%. Current consensus DPS estimate is 149.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY23:
Ord Minnett forecasts a full year FY23 dividend of 166.00 cents and EPS of 244.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 236.4, implying annual growth of 11.7%. Current consensus DPS estimate is 165.8, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 12.7. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NTD NATIONAL TYRE & WHEEL LIMITED
Transportation & Logistics
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Overnight Price: $0.68
Morgans rates NTD as Hold (3) -
While Morgans expects demand for Australian new car sales will slow, there is only limited evidence to support this view to-date. Auto retailer order books are expected to help smooth any slowdown impact.
This view comes as September new vehicle sales rose 6.1% on September 2019 levels and increased by 12.1% on the previous corresponding period.
Current deliveries are more reflective of global supply constraints rather than higher demand, explains the analyst.
Morgans retains its Hold rating and $0.96 target for National Tyre & Wheel.
Target price is $0.96 Current Price is $0.68 Difference: $0.28
If NTD meets the Morgans target it will return approximately 41% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 3.80 cents and EPS of 11.00 cents. |
Forecast for FY24:
Morgans forecasts a full year FY24 dividend of 4.00 cents and EPS of 11.00 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PNV POLYNOVO LIMITED
Pharmaceuticals & Biotech/Lifesciences
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Overnight Price: $1.81
Macquarie rates PNV as Outperform (1) -
Following a 1Q sales update by PolyNovo showing a record $5.4m of sales in the month of September, Macquarie retains its Outperform rating.
Moreover, the analyst feels recent FDA approval of MTX will diversify sales and broaden the company's product offering.
The $1.90 target price is also unchanged.
Target price is $1.90 Current Price is $1.81 Difference: $0.09
If PNV meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.00 cents. |
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 0.00 cents and EPS of 2.40 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PWR PETER WARREN AUTOMOTIVE HOLDINGS LIMITED
Automobiles & Components
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Overnight Price: $2.74
Morgans rates PWR as Add (1) -
While Morgans expects demand for Australian new car sales will slow, there is only limited evidence to support this view to-date. Auto retailer order books are expected to help smooth any slowdown impact.
This view comes as September new vehicle sales rose 6.1% on September 2019 levels and increased by 12.1% on the previous corresponding period.
Current deliveries are more reflective of global supply constraints rather than higher demand, explains the analyst.
Morgans retains its Add rating and $3.25 target for Peter Warren Automotive. It's noted the recent register change (SMA Motors acquiring a 9.1% stake) should allow a partnership with Toyota and open up new acquisition opportunities.
Target price is $3.25 Current Price is $2.74 Difference: $0.51
If PWR meets the Morgans target it will return approximately 19% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 22.00 cents and EPS of 36.00 cents. |
Forecast for FY24:
Morgans forecasts a full year FY24 dividend of 19.00 cents and EPS of 27.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.58
Credit Suisse rates SGR as Neutral (3) -
Credit Suisse expects recommendations for default pre-set loss limits from the Queensland casino inquiry may take Star Entertainment's investors by surprise, although notes implementation of recommendations may take to 2025.
Star Entertainment is largely only indirectly exposed to the Queensland market, with its exposure estimated at $255m of slot machine revenue in FY25.
The Neutral rating and target price of $2.90 are retained.
Target price is $2.90 Current Price is $2.58 Difference: $0.32
If SGR meets the Credit Suisse target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $3.41, suggesting upside of 31.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 5.50 cents and EPS of 13.83 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.1, implying annual growth of N/A. Current consensus DPS estimate is 9.0, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 25.6. |
Forecast for FY24:
Credit Suisse forecasts a full year FY24 dividend of 7.00 cents and EPS of 9.47 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of 67.3%. Current consensus DPS estimate is 12.8, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 15.3. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SIQ SMARTGROUP CORPORATION LIMITED
Vehicle Leasing & Salary Packaging
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Overnight Price: $5.15
Morgans rates SIQ as Hold (3) -
While Morgans expects demand for Australian new car sales will slow, there is only limited evidence to support this view to-date. Auto retailer order books are expected to help smooth any slowdown impact.
This view comes as September new vehicle sales rose 6.1% on September 2019 levels and increased by 12.1% on the previous corresponding period.
Current deliveries are more reflective of global supply constraints rather than higher demand, explains the analyst.
Management at Smartgroup Corp have noted lower novated lease conversion, in what Morgans notes could be first signs of an impact in a more interest-rate sensitive area.
The Hold rating and $7.40 target are retained.
Target price is $7.40 Current Price is $5.15 Difference: $2.25
If SIQ meets the Morgans target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $6.99, suggesting upside of 40.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 36.50 cents and EPS of 49.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.1, implying annual growth of 8.1%. Current consensus DPS estimate is 37.7, implying a prospective dividend yield of 7.6%. Current consensus EPS estimate suggests the PER is 10.1. |
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 38.00 cents and EPS of 50.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.9, implying annual growth of 1.6%. Current consensus DPS estimate is 38.4, implying a prospective dividend yield of 7.7%. Current consensus EPS estimate suggests the PER is 10.0. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $0.95
Macquarie rates TAH as Outperform (1) -
The Gaming Services business of Tabcorp Holdings continues to be under transition with recent news of the new Tasmanian monitoring licence and the proposed sale of the eBet business, explains Macquarie.
While the broker doesn't rule out softer earnings from competition via newly-launched brands, there's still potential for medium-term upside risk from regulatory reform.
The Outperform rating and $1.10 target are unchanged.
Target price is $1.10 Current Price is $0.95 Difference: $0.15
If TAH meets the Macquarie target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $1.08, suggesting upside of 12.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 2.30 cents and EPS of 3.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 3.9, implying annual growth of -98.7%. Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 24.6. |
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 2.50 cents and EPS of 4.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.4, implying annual growth of 12.8%. Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.8. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.20
Macquarie rates TLC as Outperform (1) -
Macquarie attributes an -11% decline in Australian lottery volumes (the broker's data) in the 1Q of FY23 to lower Powerball jackpot activity which should normalise.
While the broker sees volume downgrade risks to FY23, forecasts into FY24 should be unchanged once normalisation occurs. It's noted lotteries are highly defensive and inelastic to economic conditions.
The Outperform rating and $4.70 target are maintained for Lottery Corp.
Target price is $4.70 Current Price is $4.20 Difference: $0.5
If TLC meets the Macquarie target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $4.90, suggesting upside of 20.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 14.50 cents and EPS of 14.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of -1.1%. Current consensus DPS estimate is 14.6, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 26.5. |
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 14.50 cents and EPS of 15.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of 9.7%. Current consensus DPS estimate is 17.7, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 24.1. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $21.94
Ord Minnett rates WBC as Hold (3) -
Ord Minnett notes market cash rate pricing points to a December cash rate of 3.0%, versus the 3.3% envisaged in early September, and a peak rate of 3.7% in July 2023.
Since the first rate hike in April, the broker notes banks have been lagging in increasing deposit rates, which is a positive near-term tailwind for margins.
Ord Minnett assesses Westpac has the second worst rate leverage of the major banks, ahead of ANZ bank, while CommBank has the best leverage.
The Hold rating and $22.80 target for Westpac are unchanged.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $22.80 Current Price is $21.94 Difference: $0.86
If WBC meets the Ord Minnett target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $24.52, suggesting upside of 11.8% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 123.00 cents and EPS of 136.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 144.2, implying annual growth of -3.5%. Current consensus DPS estimate is 119.3, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 15.2. |
Forecast for FY23:
Ord Minnett forecasts a full year FY23 dividend of 134.00 cents and EPS of 185.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 194.8, implying annual growth of 35.1%. Current consensus DPS estimate is 141.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 11.3. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Today's Price Target Changes
Company | Last Price | Broker | New Target | Prev Target | Change | |
ANZ | ANZ Bank | $24.36 | Ord Minnett | 24.70 | 24.70 | 0.00% |
APX | Appen | $2.87 | Ord Minnett | 2.60 | 3.00 | -13.33% |
BXB | Brambles | $11.60 | Credit Suisse | 14.85 | 14.40 | 3.12% |
FMG | Fortescue Metals | $17.30 | Macquarie | 14.50 | 14.30 | 1.40% |
IMD | Imdex | $2.07 | Macquarie | 2.85 | 2.70 | 5.56% |
MFG | Magellan Financial | $10.67 | Credit Suisse | 10.90 | 11.40 | -4.39% |
Morgans | 10.94 | 14.04 | -22.08% | |||
UBS | 9.80 | 10.30 | -4.85% |
Summaries
AFG | Australian Finance Group | Outperform - Macquarie | Overnight Price $1.68 |
ANZ | ANZ Bank | Accumulate - Ord Minnett | Overnight Price $24.39 |
APE | Eagers Automotive | Add - Morgans | Overnight Price $11.65 |
APX | Appen | Sell - Ord Minnett | Overnight Price $2.94 |
ASB | Austal | Lighten - Ord Minnett | Overnight Price $2.40 |
BAP | Bapcor | Hold - Morgans | Overnight Price $6.51 |
BHP | BHP Group | Outperform - Macquarie | Overnight Price $40.76 |
Equal-weight - Morgan Stanley | Overnight Price $40.76 | ||
BOQ | Bank of Queensland | Outperform - Credit Suisse | Overnight Price $6.98 |
BXB | Brambles | Outperform - Credit Suisse | Overnight Price $11.64 |
CBA | CommBank | Hold - Ord Minnett | Overnight Price $96.88 |
CNU | Chorus | Neutral - Macquarie | Overnight Price $6.75 |
CSL | CSL | Buy - Citi | Overnight Price $290.20 |
Overweight - Morgan Stanley | Overnight Price $290.20 | ||
FMG | Fortescue Metals | Underperform - Macquarie | Overnight Price $17.60 |
IMD | Imdex | Outperform - Macquarie | Overnight Price $2.10 |
JIN | Jumbo Interactive | Outperform - Macquarie | Overnight Price $12.50 |
MFG | Magellan Financial | Neutral - Credit Suisse | Overnight Price $10.75 |
Hold - Morgans | Overnight Price $10.75 | ||
Sell - UBS | Overnight Price $10.75 | ||
MTO | Motorcycle Holdings | Add - Morgans | Overnight Price $2.59 |
NAB | National Australia Bank | Accumulate - Ord Minnett | Overnight Price $30.27 |
NTD | National Tyre & Wheel | Hold - Morgans | Overnight Price $0.68 |
PNV | PolyNovo | Outperform - Macquarie | Overnight Price $1.81 |
PWR | Peter Warren Automotive | Add - Morgans | Overnight Price $2.74 |
SGR | Star Entertainment | Neutral - Credit Suisse | Overnight Price $2.58 |
SIQ | Smartgroup Corp | Hold - Morgans | Overnight Price $5.15 |
TAH | Tabcorp Holdings | Outperform - Macquarie | Overnight Price $0.95 |
TLC | Lottery Corp | Outperform - Macquarie | Overnight Price $4.20 |
WBC | Westpac | Hold - Ord Minnett | Overnight Price $21.94 |
RATING SUMMARY
Rating | No. Of Recommendations |
1. Buy | 14 |
2. Accumulate | 2 |
3. Hold | 10 |
4. Reduce | 1 |
5. Sell | 3 |
Friday 07 October 2022
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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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