Australian Broker Call

Ord Minnett rates AGL as Downgrade to Accumulate from Buy (2) -

AGL Energy's share price has moved through Ord Minnett's trigger level. As a result the rating is reduced to Accumulate from Buy. Target is $12.80.

Target price is $12.80 Current Price is $8.21 Difference: $4.59
If AGL meets the Ord Minnett target it will return approximately 56% (excluding dividends, fees and charges).

Current consensus price target is $8.76, suggesting upside of 7.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

Macquarie rates AGY as Outperform (1) -

Commissioning of the Rincon project is nearing completion, with Macquarie noting 10t of battery quality lithium carbonate with purity of 99.79%.

Ramp up to 2,000tpa is expected to take less than six months. Outstanding approvals from the Argentinian government in order to progress to the full-scale development remain a material catalyst for Argosy Minerals, the broker suggests.

Outperform rating and 80c target price retained.

Target price is $0.80 Current Price is $0.42 Difference: $0.38
If AGY meets the Macquarie target it will return approximately 90% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 1.0

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

Morgan Stanley rates ALL as Overweight (1) -

A stronger performance in social casino offset some weakness in RPG resulting in a return to monthly revenue growth for Pixel United in March, explains Morgan Stanley.

RAID delivered revenue growth in March, which the analyst considers a notable performance from within Aristocrat Leisure's top ten game portfolio.

The Overweight rating and $43 target are unchanged. Industry View: In-Line. 

Target price is $43.00 Current Price is $37.70 Difference: $5.3
If ALL meets the Morgan Stanley target it will return approximately 14% (excluding dividends, fees and charges).

Current consensus price target is $42.73, suggesting upside of 13.8% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.9

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

Macquarie rates ASB as Outperform (1) -

Macquarie notes serious charges have been levelled at three former Austal US employees by the Department of Justice for allegedly making or causing false statements about the company's performance and financial condition between 2012 and 2016.

At this stage the charges appear to be about the former employees rather than the company itself but Macquarie will review any changes as the case progresses.

Austal has continued to work with major US government customers despite the investigation. The main downside risk the broker assesses is major production/contractual issues on shipbuilding programs and any legal issues arising from the charges. Outperform rating and $2.60 target maintained.

Target price is $2.60 Current Price is $1.67 Difference: $0.935
If ASB meets the Macquarie target it will return approximately 56% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

Morgans rates ATA as Hold (3) -

Morgans updates its forecasts and valuation to allow for the acquisition of managed service provider Sommerville.

Also, forecasts are amended due a change of focus (and guidance) by management on underlying EBITDA from underlying EBIT.

The company now expects FY23 underlying EBITDA “to exceed $19m.”

The target slips to 95c from $1.01. Hold.

Target price is $0.95 Current Price is $0.90 Difference: $0.05
If ATA meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

Shaw and Partners rates ATA as Buy (1) -

Atturra has reinstated and upgraded FY23 guidance, with margins ahead of expectations. Underlying EBITDA is guided at $19m. Shaw and Partners remains bullish on the growth prospects, noting the company is typically conservative with earnings guidance.

The Somerville acquisition has been completed within the managed services space which means the business has now opened up this capability.

The broker upgrades estimates for FY23 by 12% while remaining conservative regarding FY24-25, and calculates the stock is trading on only 7x EV/EBITDA representing the largest listed pure sovereign IT services provider.

Target is raised to $1.13 from $1.10. Buy rating maintained.

Target price is $1.13 Current Price is $0.90 Difference: $0.23
If ATA meets the Shaw and Partners target it will return approximately 26% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

Macquarie rates AWC as Underperform (5) -

Alumina Ltd has indicated Alumar will operate at reduced rates for around 10 days because of unplanned maintenance on the conveyance system. Unloading of bauxite, coal, coke and pitch was affected by an outage that took place on March 25.

Incorporating lower operating rates results in slight changes to Macquarie's earnings forecasts. Target of $1.10 is unchanged.

Meanwhile, pot stability issues continue at the Portland smelter and this is also weighing on the near-term outlook. Underperform maintained.

Target price is $1.10 Current Price is $1.46 Difference: minus $0.355 (current price is over target).
If AWC meets the Macquarie target it will return approximately minus 24% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $1.39, suggesting downside of -6.3% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY23:

Forecast for FY24:

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

Macquarie rates BKT as Initiation of coverage with Outperform (1) -

Macquarie initiates coverage of Black Rock Mining with an Outperform rating and $0.28 target. The company is developing its Mahenge graphite project in Tanzania with a four-stage development to produce up to 340,000tpa over 26 years.

The required approvals have been secured including a special mining licence. Mahenge has the fourth largest JORC reserve globally. Over 80% of the first stage production is under binding offtake or option, with POSCO set to take 32% of total volume for the life of the mine, the broker explains.

Target price is $0.28 Current Price is $0.14 Difference: $0.14
If BKT meets the Macquarie target it will return approximately 100% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 1.0

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

Macquarie rates CPU as Outperform (1) -

Macquarie updates forecasts as, since mid February, forward curves have declined across all major geographies except for the UK. Falling yields and ongoing inflation pose further downside risks to earnings for Computershare.

Yet the broker maintains an Outperform rating, given the prospect of a capital return in the next 12 months. Target is reduced to $26 from $28.

Target price is $26.00 Current Price is $22.08 Difference: $3.92
If CPU meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges).

Current consensus price target is $27.08, suggesting upside of 23.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

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

UBS rates CQR as Neutral (3) -

Charter Hall Retail REIT has acquired an 18% interest in the Long WALE Investment Partnership 2 (LWIP2). The transaction will be funded by the divestment of Allenstown Square.

UBS finds the strategic rationale confusing and suspects this will likely contribute to the company's ongoing discount to peers. It appears to be a strategic shift away from convenience retail in favour of a longer WALE, CPI-linked portfolio.

UBS believes investors will question whether these assets truly fall within the convenience retail mandate and raise complications as to how Charter Hall Retail should be valued. Neutral rating and $4.14 target unchanged.

Target price is $4.14 Current Price is $3.82 Difference: $0.32
If CQR meets the UBS target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $4.31, suggesting upside of 13.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.6

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

Citi rates DXS as Resume Coverage with Neutral (3) -

Citi remains cautious about Australian office fundamentals amid expectations of rising vacancy rates, higher incentives and pressure on cap rates. Nevertheless, there is potential for stocks to move into value territory given large historical discounts to net tangible assets.

Dexus trades at large historical discounts to NTA and the broker envisages more compelling discounts in the diversified segment at present.

Citi resumes coverage with a Neutral rating and target of $8, expecting Dexus will offer a total return of more than 11% at current levels.

Target price is $8.00 Current Price is $7.64 Difference: $0.36
If DXS meets the Citi target it will return approximately 5% (excluding dividends, fees and charges).

Current consensus price target is $9.11, suggesting upside of 17.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.1

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

Macquarie rates EBO as Outperform (1) -

In reviewing the recent Medicare surgical data Macquarie notes it was another "good" month for othopaedic and spinal, which was up 15% in February.

While the public sector is still contending with elevated surgery waiting lists, the broker points out Ebos Group is primarily exposed to private hospitals. The main issues are around the availability of specialist workers and operating theatres.

Hence, the company's revenue stream is "classically defensive". Outperform. Target is NZ$47.93. 

Current Price is $42.66. Target price not assessed.

Current consensus price target is $38.04, suggesting downside of -10.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.4

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

Macquarie rates EVN as Neutral (3) -

The restart of Ernest Henry remains on track with Evolution Mining confirming "within six weeks". Macquarie notes liquidity is resilient, assessing the peak in net debt is nearing, at $1.9bn.

The main catalysts are improvement in Red Lake and the timing of the restart of Ernest Henry. The company will provide an update to FY23 guidance with its third quarter report, due April 20. Neutral maintained. Target is steady at $3.

Target price is $3.00 Current Price is $3.11 Difference: minus $0.11 (current price is over target).
If EVN 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 $3.11, suggesting downside of -3.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.0

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

Citi rates HUB as Neutral (3) -

Citi believes the weak quarterly from Netwealth Group ((NWL)) has fuelled the debate on whether peak flows have occurred and the structural shift towards specialist platforms is over, particularly as adviser movements across the industry have slowed.

A weak quarterly from Hub24 is also anticipated, although it is expected to outperform its rival. A large transition is key to hitting FY24 guidance for funds under administration.

Citi lowers second half flow forecasts by -6% to $10.1bn and envisages a possibility the company will lower FY24 guidance. Neutral rating retained while Hub24 is preferred on a relative basis. Target is reduced to $30.30 from $31.75.

Target price is $30.30 Current Price is $26.90 Difference: $3.4
If HUB meets the Citi target it will return approximately 13% (excluding dividends, fees and charges).

Current consensus price target is $33.13, suggesting upside of 22.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.8

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

Morgan Stanley rates IAG as Equal-weight (3) -

Morgan Stanley's new business survey shows Motor insurance pricing is the strongest in a decade, rising by 26% year-on-year in the March quarter.

The broker points out Insurance Australia Group's pricing increases for Motor is lagging peers, with market share a current focus. The group's Home pricing exceeds peer levels, notes the analyst.

Equal-weight rating and $4.75 target retained. Industry View: In-Line. 

Target price is $4.75 Current Price is $4.74 Difference: $0.01
If IAG meets the Morgan Stanley target it will return approximately 0% (excluding dividends, fees and charges).

Current consensus price target is $5.15, suggesting upside of 7.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.3

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

Citi rates JLG as Buy (1) -

Citi estimates Johns Lyng's market share in the strata market is now 3.3% and, given the market is highly fragmented, there are a number of candidates for further expansion.

The company is also well-placed to win subsequent work on the back of clean-up activities after recent floods. The broker understands most of the $56m work with respect to the clean-up program for the Murray River will be undertaken in FY24.

Buy rating and $9.65 target maintained.

Target price is $9.65 Current Price is $6.57 Difference: $3.08
If JLG meets the Citi target it will return approximately 47% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 1.0

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

Morgans rates KAR as Add (1) -

Morgans doesn't alter its Add rating or $3.80 target for Karoon Energy following news of a temporary shut-in at Bauna in Brazil, following a gas leak.

Karoon Energy and the operator are being cautious given the issue is fixed, according to the analyst, and will bring forward some planned maintenance activities.

Target price is $3.80 Current Price is $2.28 Difference: $1.52
If KAR meets the Morgans target it will return approximately 67% (excluding dividends, fees and charges).

Current consensus price target is $2.99, suggesting upside of 28.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

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 NWL as Neutral (3) -

Netwealth Group has lowered FY23 flow guidance to $9-11bn. Citi notes the top end of the range assumes a significant contribution from a large transition yet, given the uncertain environment, forecasts flows of just $9.75bn, while assuming a seasonal pick up in the fourth quarter.

The company has also guided to increasing its focus on operating efficiencies, which the broker finds somewhat surprising when considering the weaker flows are not seen as a structural issue. Nevertheless the aim is prudent, Citi asserts, given the uncertain environment. Neutral rating maintained. Target is reduced to $13.95 from $14.25.

Target price is $13.95 Current Price is $12.50 Difference: $1.45
If NWL meets the Citi target it will return approximately 12% (excluding dividends, fees and charges).

Current consensus price target is $14.72, suggesting upside of 22.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

Macquarie rates NWL as Outperform (1) -

Quarterly flows at Netwealth Group were below Macquarie's expectations. The company has cited negative investor sentiment, which caused a delay to the timing of transactions as well as new business from existing clients.

Macquarie reduces estimates for net flows in FY23 to $9.8bn and across the forecast horizon reduces net flows to $11bn per annum.

The broker is not surprised about transition delays and more subdued flows in new business, believing this is a timing issue rather than something structural.

Target is lowered to $15.00 from $15.50. Outperform retained.

Target price is $15.00 Current Price is $12.50 Difference: $2.5
If NWL meets the Macquarie target it will return approximately 20% (excluding dividends, fees and charges).

Current consensus price target is $14.72, suggesting upside of 22.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

Morgans rates NWL as Hold (3) -

Netwealth Group has downgraded FY23 inflow guidance to $9bn-11bn from around $11bn, after 3Q net inflows came in lower than Morgans expected at $1.65bn.

The lower guidance implies to the broker 4Q net inflows of $2.4-4.4bn.

The company ended the 3Q with funds under administration (FUA) of $65.8bn, a rise of 14.3% on the previous corresponding period.

Morgans lowers its EPS forecasts and the target falls to $14.45 from $15.30. Hold.

Target price is $14.45 Current Price is $12.50 Difference: $1.95
If NWL meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $14.72, suggesting upside of 22.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

Ord Minnett rates NWL as Accumulate (2) -

Netwealth Group's quarterly performance underwhelmed Ord Minnett. Looking through the short-term difficulties, the broker still considers the flow pipeline and market share growth potential appealing.

The company is considered "well-placed" to increase revenue, earnings and returns to shareholders over the next few years. Net flows in the third quarter of $1.7bn were well below the broker's forecasts of $2.6bn, negatively affected by a combination of a difficult macro economic environment and soft investor sentiment.

An Accumulate rating is reiterated. Target is lowered to $13.70 from $14.20.

Target price is $13.70 Current Price is $12.50 Difference: $1.2
If NWL meets the Ord Minnett target it will return approximately 10% (excluding dividends, fees and charges).

Current consensus price target is $14.72, suggesting upside of 22.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

UBS rates NWL as Buy (1) -

UBS was disappointed with the slowdown in flows that continued into the third quarter, attributed to global market volatility. Gross inflows are expected to recover although the timeframe is unclear.

Net fund flows of $1.7bn in the quarter were the weakest since the fourth quarter of 2020. FY23 guidance has been revised down to $9-11bn from "approximately $11bn".

Netwealth Group has reaffirmed cost expectations for FY23 and UBS is modelling a recovery in EBITDA in FY24. UBS retains a Buy rating and lowers the target to $16.50 from $17.00.

Target price is $16.50 Current Price is $12.50 Difference: $4
If NWL meets the UBS target it will return approximately 32% (excluding dividends, fees and charges).

Current consensus price target is $14.72, suggesting upside of 22.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

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

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

The share price of News Corp has moved through Ord Minnett's trigger level and as a result the rating is downgraded to Hold from Accumulate. Target is $29.

Target price is $29.00 Current Price is $25.86 Difference: $3.14
If NWS meets the Ord Minnett target it will return approximately 12% (excluding dividends, fees and charges).

Current consensus price target is $32.33, suggesting upside of 24.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

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

UBS rates ORI as Buy (1) -

Orica has showcased the Lurin facility in Peru which specialises in the manufacture of initiation systems and has been integrated into the manufacturing portfolio. Synergies have exceeded the company's initial expectations. UBS notes commercial discipline remains the key focus.

A second day was spent at the Brownsburg facility in Canada with Orica now producing an increased share of WebGen systems at the facility. UBS believes this provides a favourable mix benefit and there should be upside to margins for Orica.

The Buy rating and target price of $18.00 are retained.

Target price is $18.00 Current Price is $15.45 Difference: $2.55
If ORI meets the UBS target it will return approximately 17% (excluding dividends, fees and charges).

Current consensus price target is $16.43, suggesting upside of 5.7% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.3

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

Ord Minnett rates PMV as Downgrade to Sell from Lighten (5) -

The share price of Premier Investments has moved through Ord Minnett's trigger level and the rating is downgraded to Sell from Lighten as a result. Target is $19.

Target price is $19.00 Current Price is $26.32 Difference: minus $7.32 (current price is over target).
If PMV meets the Ord Minnett target it will return approximately minus 28% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $26.92, suggesting upside of 1.4% (ex-dividends)

The company's fiscal year ends in July.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.3

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

Macquarie rates QBE as Outperform (1) -

Macquarie updates forecasts to reflect marking to market, lower corporate tax rates and a lower cession ratio over the medium term. The broker estimates growth in gross written premium of 7.1%, which compares with QBE Insurance's mid-to-high single digit guidance.

While the stock is trading at a 12.6% premium to weighted international peers, which compares to a three-year average discount of -3.5%, the broker points out this reflects peers being more affected by economic challenges globally.

Target is raised to $16.00 from $15.60 and an Outperform rating is maintained.

Target price is $16.00 Current Price is $14.54 Difference: $1.46
If QBE meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).

Current consensus price target is $16.19, suggesting upside of 10.4% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY23:

Forecast for FY24:

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

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

Stockland's share price has moved through Ord Minnett's trigger level and, hence, the rating is downgraded to Hold from Accumulate. Target is $4.35.

Target price is $4.35 Current Price is $4.08 Difference: $0.27
If SGP meets the Ord Minnett target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting downside of -0.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.4

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

Citi rates SHL as Buy (1) -

Sonic Healthcare has an agreement to acquire Diagnosticum, a group located in south-east Germany with 15 laboratories and 25 pathologists and will pay EUR190m or around $310m.

While valuation multiples and margins were not disclosed, the transaction is expected to be immediately accretive. Citi notes the transaction is in line with the company's long-term strategy of deploying capital through acquisitions and retains a Buy rating with a $36 target.

Target price is $36.00 Current Price is $35.10 Difference: $0.9
If SHL meets the Citi target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $33.58, suggesting downside of -6.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.3

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

Morgans rates SHL as No Rating (-1) -

Morgans expects further value acretive acquisitions after Sonic Healthcare purchased the Diagnosticum group of laboratories in south east Germany for around -$308m with existing cash and debt facilities.

The clinical and anatomical pathology laboratory group employs 25 pathologists and operates 15 laboratories.

While the acquisition is not material, the analyst views the purchase as a strategic expansion of the German division, which offers an enhanced specialist product portfolio.

The target rises to $37.80 from $37.04. Add.

Target price is $37.80 Current Price is $35.10 Difference: $2.7
If SHL meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges).

Current consensus price target is $33.58, suggesting downside of -6.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.3

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

Ord Minnett rates SOL as Downgrade to Lighten from Hold (4) -

WH Soul Pattinson's share price has moved through Ord Minnett's trigger level and the rating is subsequently downgraded to Lighten from Hold.

The cross-holding in Brickworks ((BKW)) is considered valuable, allowing the company to invest with long-term horizons and, in the broker's view, at times in a contrarian manner. Target is $26.90.

Target price is $26.90 Current Price is $30.41 Difference: minus $3.51 (current price is over target).
If SOL meets the Ord Minnett target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in July.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.0

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

Morgan Stanley rates SUN as Overweight (1) -

Despite rising inflation, new business pricing was largely flat for compulsory third part insurance in QLD and NSW, notes Morgan Stanley.

Also, the broker's March quarter new business pricing survey showed Home insurance slowing modestly to increase by 16% year-on-year, but pricing remains near record levels.

Overweight rating and $14.50 target retained. Industry View: In-Line. 

Target price is $14.50 Current Price is $12.21 Difference: $2.29
If SUN meets the Morgan Stanley target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $14.59, suggesting upside of 20.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.8

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