Australian Broker Call
November 03, 2017
Access Broker Call Report Archives here
COMPANIES DISCUSSED IN THIS ISSUE
Click on symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
Last Updated: 02:33 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
| BLA - | BLUE SKY ALT INV | Downgrade to Hold from Add | Morgans |
| OZL - | OZ MINERALS | Upgrade to Neutral from Underperform | Credit Suisse |
| PLS - | PILBARA MINERALS | Downgrade to Neutral from Buy | Citi |
| SFR - | SANDFIRE | Upgrade to Neutral from Underperform | Credit Suisse |
UBS rates AMA as Buy (1) -
The company made an off-market takeover bid for the remaining 69% of shares it does not own in Automotive Solutions ((4WD)). The $0.35 cash per share offer represents a 49% premium to the prior close.
Automotive solutions operates through eight businesses and offers a full range of automotive services. AMA has previously stated it will carry out a strategic review to identify possible full synergies, cost savings and opportunities to enhance revenue.
UBS estimates potential synergies of at least $1m should the company be successful in acquiring the business. Buy retained. Target is $1.20.
Target price is $1.20 Current Price is $0.94 Difference: $0.265
If AMA meets the UBS target it will return approximately 28% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 2.80 cents and EPS of 4.90 cents. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 3.20 cents and EPS of 5.60 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AQG as Outperform (1) -
September quarter production was affected by a transition to sulphide ore from oxide at Copler, which led to varied copper grade, short-term negative oxide ore reconciliation and slower recoveries.
Still, Macquarie finds promising signs on costs and production heading into the December quarter. 2018 is expected to be a tougher year as oxide sources are depleted.
Outperform retained. Target is raised to $2.90 from $2.80.
Target price is $2.90 Current Price is $2.14 Difference: $0.76
If AQG meets the Macquarie target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $3.76, suggesting downside of -23.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 0.00 cents and EPS of 52.94 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 1.05 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.7, implying annual growth of -49.4%. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.6%. Current consensus EPS estimate suggests the PER is 27.9. |
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 BAP as Overweight (1) -
The year has begun well and the company has reiterated guidance for growth in net profit of 30% in FY18.
Morgan Stanley notes that, while retail corporate store growth was strong, franchisee remains flat. Nevertheless, the broker is comfortable at this point as the transition of some franchisees to the corporate model and changes to the platform are improving profitability.
Overweight rating retained. Target is $7.00. Industry view: In-line.
Target price is $7.00 Current Price is $5.49 Difference: $1.515
If BAP meets the Morgan Stanley target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $6.50, suggesting upside of 18.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 18.90 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.1, implying annual growth of 30.9%. Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 17.6. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.6, implying annual growth of 14.5%. Current consensus DPS estimate is 20.6, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 15.4. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates BAP as Add (1) -
Bapcor's AGM trading update highlighted solid same store sales growth across all divisions. The broker has upgraded earnings to account for a bringing forward of the compnay's warehouse optimisation program which the broker sees as increasing the longevity of Bapcor's growth profile.
The update highlights the defensive nature of Bapcor's low sales volatility, the broker suggests. With the stock trading at a PE discount to the industrials ex-financials index the broker retains Add. Target rises to $6.29 from $6.13.
Target price is $6.29 Current Price is $5.49 Difference: $0.805
If BAP meets the Morgans target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $6.50, suggesting upside of 18.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 17.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.1, implying annual growth of 30.9%. Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 17.6. |
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 19.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.6, implying annual growth of 14.5%. Current consensus DPS estimate is 20.6, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 15.4. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BLA BLUE SKY ALTERNATIVE INVESTMENTS LIMITED
Wealth Management & Investments
Overnight Price: $14.30
Morgans rates BLA as Downgrade to Hold from Add (3) -
Blue Sky has guided to 37% FY18 profit growth and has noted a quarterly gain in assets under management, supporting the fund's FY18 and FY19 AUM targets. Confidence is underpinned by several institutional mandates won in the quarter.
Morgans believes Blue Sky is well positioned for AUM growth supported by its deal pipeline, institutional interest and a strong macro backdrop. Target rises to $14.34 from $11.18 but with the share price already close to this level, Morgans pulls back to Hold.
Target price is $14.34 Current Price is $14.30 Difference: $0.04
If BLA meets the Morgans target it will return approximately 0% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 31.00 cents and EPS of 52.00 cents. |
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 39.00 cents and EPS of 64.00 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates BLD as Buy (1) -
The company upgraded FY18 Australian guidance and now expects high single-digit earnings growth. This compares to a guided rate of 5% previously. The upgrade comes on the back of good weather in the first quarter and strong eastern coast activity.
Deutsche Bank believes, given the upgrade has taken place so early in the fiscal year, that management has a significant degree of confidence and remains comfortable with its expectation for around 20% growth ex property. Buy rating and $7.68 target retained.
Target price is $7.68 Current Price is $7.15 Difference: $0.53
If BLD meets the Deutsche Bank target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $7.45, suggesting upside of 131.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 28.00 cents and EPS of 42.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.5, implying annual growth of 25.0%. Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 7.6%. Current consensus EPS estimate suggests the PER is 8.8. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 34.00 cents and EPS of 53.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.1, implying annual growth of 20.8%. Current consensus DPS estimate is 28.9, implying a prospective dividend yield of 9.0%. Current consensus EPS estimate suggests the PER is 7.3. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates BLD as Outperform (1) -
Fair weather and strong markets has helped the Australian business and the company has raised guidance, now expecting high single digit growth in operating earnings. Macquarie upgrades growth expectations to 9.0%.
The tone for the US is similarly optimistic, with the broker observing growth will be supported by inclusion of Headwaters. FY18 and FY19 net profit estimates are upgraded by 1.5% and 0.3% respectively.
Outperform retained. Target is raised to $8.25 from $7.50.
Target price is $8.25 Current Price is $7.15 Difference: $1.1
If BLD meets the Macquarie target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $7.45, suggesting upside of 131.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 22.00 cents and EPS of 38.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.5, implying annual growth of 25.0%. Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 7.6%. Current consensus EPS estimate suggests the PER is 8.8. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 25.00 cents and EPS of 44.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.1, implying annual growth of 20.8%. Current consensus DPS estimate is 28.9, implying a prospective dividend yield of 9.0%. Current consensus EPS estimate suggests the PER is 7.3. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates BLD as Overweight (1) -
Guidance for Australia has been upgraded and reinforces Morgan Stanley's positive stance. The broker envisages further upside as synergies from Headwaters are delivered.
The broker would not be surprised if current guidance is surpassed as the year progresses.
Overweight rating and $8.50 target. Industry view is Cautious.
Target price is $8.50 Current Price is $7.15 Difference: $1.35
If BLD meets the Morgan Stanley target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $7.45, suggesting upside of 131.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 25.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.5, implying annual growth of 25.0%. Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 7.6%. Current consensus EPS estimate suggests the PER is 8.8. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 32.00 cents and EPS of 51.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.1, implying annual growth of 20.8%. Current consensus DPS estimate is 28.9, implying a prospective dividend yield of 9.0%. Current consensus EPS estimate suggests the PER is 7.3. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates BLD as Hold (3) -
Ord Minnett updates its model following the upgrade to guidance from the company. Earnings estimates rise 0.5% on average for 2018-20.
The broker maintains a Hold rating and raises the target to $6.70 from $6.60.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $6.70 Current Price is $7.15 Difference: minus $0.45 (current price is over target).
If BLD meets the Ord Minnett target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $7.45, suggesting upside of 131.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 25.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.5, implying annual growth of 25.0%. Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 7.6%. Current consensus EPS estimate suggests the PER is 8.8. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 27.00 cents and EPS of 39.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.1, implying annual growth of 20.8%. Current consensus DPS estimate is 28.9, implying a prospective dividend yield of 9.0%. Current consensus EPS estimate suggests the PER is 7.3. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates CCP as Hold (3) -
Credit Corp has acquired Thorn Group's ((TGA)) Cashfirst consumer finance book for $13.3m, representing a small premium to book value. The acquisition increases Credit Corp's loan book by 8% and the broker estimates around 5% of earnings accretion over two years.
Following the trading update the broker remains positive on earnings visibility and long term growth profile but would like to see more upside potential to valuation before moving off Hold. Target rises to $22.50 from $19.50.
Target price is $22.50 Current Price is $20.13 Difference: $2.37
If CCP meets the Morgans target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 68.00 cents and EPS of 136.00 cents. |
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 76.00 cents and EPS of 152.00 cents. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates CYB as Outperform (1) -
Following the bank's increase to its FY17 PPI provisions, Credit Suisse downgrades earnings estimates for FY17 by -4%.
The broker notes the pace of elevated provision utilisation over FY16 and FY17 will need to diminish considerably over the two years that remain for PPI claims
Outperform. Target is $5.25.
Target price is $5.25 Current Price is $5.49 Difference: minus $0.235 (current price is over target).
If CYB meets the Credit Suisse target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.93, suggesting downside of -10.2% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 3.34 cents and EPS of 35.08 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.7, implying annual growth of N/A. Current consensus DPS estimate is 5.2, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 17.3. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 7.13 cents and EPS of 42.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 37.6, implying annual growth of 18.6%. Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 14.6. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates DMP as Initiation of coverage with Neutral (5) -
Credit Suisse initiates coverage with a Neutral rating and $51.53 target. The broker looks for a cheaper entry point to provide greater upside to base case valuation.
Value is viewed driven mainly by growth in store numbers as the company has expansion plans across all its markets.
Target price is $51.53 Current Price is $45.20 Difference: $6.33
If DMP meets the Credit Suisse target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $47.18, suggesting upside of 405.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 122.00 cents and EPS of 24.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 145.8, implying annual growth of 25.7%. Current consensus DPS estimate is 113.3, implying a prospective dividend yield of 12.1%. Current consensus EPS estimate suggests the PER is 6.4. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 147.00 cents and EPS of 21.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 177.9, implying annual growth of 22.0%. Current consensus DPS estimate is 138.3, implying a prospective dividend yield of 14.8%. Current consensus EPS estimate suggests the PER is 5.3. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates DOW as Outperform (1) -
The company has indicated its major rail projects are progressing well. The company expects a further reduction in mining revenue after Christmas Creek and Boggabri conclude.
This is consistent with Macquarie's forecast for a -31% and -33% reduction in FY18 mining revenue and operating earnings respectively.
The broker retains an Outperform rating and $7.60 target.
Target price is $7.60 Current Price is $7.06 Difference: $0.54
If DOW meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $7.05, suggesting upside of 138.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 24.50 cents and EPS of 43.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.6, implying annual growth of 13.4%. Current consensus DPS estimate is 25.1, implying a prospective dividend yield of 8.5%. Current consensus EPS estimate suggests the PER is 7.3. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 27.50 cents and EPS of 49.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.2, implying annual growth of 11.3%. Current consensus DPS estimate is 27.6, implying a prospective dividend yield of 9.3%. Current consensus EPS estimate suggests the PER is 6.5. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates FXJ as Overweight (1) -
Morgan Stanley notes the spin out of Domain has been approved by shareholders and court approval is the next step. Domain is expected to commence trading as a separate company on ASX from November 16.
The broker reiterates an Overweight rating and Attractive industry view. Target is $1.50.
Target price is $1.50 Current Price is $1.09 Difference: $0.41
If FXJ meets the Morgan Stanley target it will return approximately 38% (excluding dividends, fees and charges).
Current consensus price target is $1.15, suggesting upside of 105.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 4.80 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.1, implying annual growth of -1.6%. Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 9.2. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of 1.6%. Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 7.3%. Current consensus EPS estimate suggests the PER is 9.0. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates JHX as Hold (3) -
The company will post its FY18 second-quarter result on November 9 and Ord Minnett expects underlying net profit of US$66.1m, a -11.6% decline on FY17.
The broker believes the company is well-placed to re-gain performance metrics achieved in recent years following a tough second half of FY17 and first quarter.
The broker maintains a Hold rating and raises the target to $18.35 from $18.00.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $18.35 Current Price is $19.51 Difference: minus $1.16 (current price is over target).
If JHX meets the Ord Minnett target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $20.45, suggesting upside of 150.3% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 52.84 cents and EPS of 79.26 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 77.7, implying annual growth of N/A. Current consensus DPS estimate is 49.7, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 10.5. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 58.96 cents and EPS of 93.03 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 91.9, implying annual growth of 18.3%. Current consensus DPS estimate is 57.5, implying a prospective dividend yield of 7.0%. Current consensus EPS estimate suggests the PER is 8.9. |
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 KAR as Outperform (1) -
September quarter results suggest to Macquarie that the company is continuing to trade below its cash backing, reflecting little value being attributed to the development of Echidna.
The broker continues to envisage upside in the development, which could be further enhanced if it can obtain a JV partner to fund the first stage.
Outperform retained. Target is reduced to $1.70 from $1.90.
Target price is $1.70 Current Price is $1.22 Difference: $0.485
If KAR meets the Macquarie target it will return approximately 40% (excluding dividends, fees and charges).
Current consensus price target is $1.84, suggesting downside of -52.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 7.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -7.1, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 0.00 cents and EPS of minus 7.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -7.9, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates MYR as Sell (5) -
UBS found few positives from the strategy briefing. First quarter sales were disappointing, down -2.8% year-on-year. The broker notes online investment will increase and, while profitable, remains dilutive to margins.
Moreover, further investment is needed to drive scale and margin accretion at a group level. The broker downgrades FY18-20 earnings estimates by -1-2%.
Sell rating and $0.65 target retained.
Target price is $0.65 Current Price is $0.74 Difference: minus $0.085 (current price is over target).
If MYR meets the UBS target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.68, suggesting downside of -59.5% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 4.50 cents and EPS of 7.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.3, implying annual growth of -12.0%. Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 23.0. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 4.50 cents and EPS of 7.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.3, implying annual growth of N/A. Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 23.0. |
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates NAB as Neutral (3) -
Citi analysts saw NAB releasing a "sound result in difficult times". It was nevertheless slightly below expectations, both Citi's and market consensus. The analysts point out a weaker contribution from Markets and deterioration in WM prevented the FY17 result from beating expectations.
The big news, however, was a big restructuring program alongside a sharp jump in operating expenses for the year ahead. As Citi highlights, this will see the dividend payout ratio jump to above 90%.
Target price moves to $32.25 from $31. Neutral rating retained.
Target price is $32.25 Current Price is $32.88 Difference: minus $0.63 (current price is over target).
If NAB 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 $31.87, suggesting upside of 35.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 198.00 cents and EPS of 211.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 232.5, implying annual growth of 1.9%. Current consensus DPS estimate is 198.0, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 198.00 cents and EPS of 226.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 239.2, implying annual growth of 2.9%. Current consensus DPS estimate is 192.6, implying a prospective dividend yield of 8.2%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates NAB as Outperform (1) -
Following the FY17 results Credit Suisse downgrades FY18 estimates for earnings by -2% and upgrades FY19 by 2%.
The broker notes the more ambitious cost restructuring and believes the bank's cost plan is superior to ANZ's ((ANZ)) and now envisages pressure on Westpac's ((WBC)) cost strategy.
Outperform rating and $34.50 target retained.
Target price is $34.50 Current Price is $32.88 Difference: $1.62
If NAB meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $31.87, suggesting upside of 35.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 198.00 cents and EPS of 249.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 232.5, implying annual growth of 1.9%. Current consensus DPS estimate is 198.0, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 198.00 cents and EPS of 264.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 239.2, implying annual growth of 2.9%. Current consensus DPS estimate is 192.6, implying a prospective dividend yield of 8.2%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates NAB as Buy (1) -
The second half net profit was slightly below Deutsche Bank's expectations. The bank has confirmed it will implement a -1.5% discounted DRP.
The main positive for Deutsche Bank was the strong margin performance of 1.88%, up six basis points. The bank is guiding for elevated cost growth of 5-8% in FY18 followed by broadly flat expenses in FY19-20.
Buy rating and $32.50 target maintained.
Target price is $32.50 Current Price is $32.88 Difference: minus $0.38 (current price is over target).
If NAB meets the Deutsche Bank target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $31.87, suggesting upside of 35.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 198.00 cents and EPS of 252.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 232.5, implying annual growth of 1.9%. Current consensus DPS estimate is 198.0, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
Current consensus EPS estimate is 239.2, implying annual growth of 2.9%. Current consensus DPS estimate is 192.6, implying a prospective dividend yield of 8.2%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates NAB as Outperform (1) -
The second half result was overshadowed by a decision to accelerate investment in FY18, Macquarie asserts. Expenses are expected to grow 5-8% in FY18.
The broker notes the bank will effectively spend an additional $1bn over the next three years versus prior forecasts, and this could put further pressure on capital and an already elevated pay-out ratio.
In the short term Macquarie expects the healthy dividend yield of around 6% will provide support for the share price. Outperform maintained. Target is raised to $33.50 from $33.00.
Target price is $33.50 Current Price is $32.88 Difference: $0.62
If NAB meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $31.87, suggesting upside of 35.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 198.00 cents and EPS of 235.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 232.5, implying annual growth of 1.9%. Current consensus DPS estimate is 198.0, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 171.00 cents and EPS of 238.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 239.2, implying annual growth of 2.9%. Current consensus DPS estimate is 192.6, implying a prospective dividend yield of 8.2%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates NAB as Underweight (5) -
Morgan Stanley believes the FY17 result confirms bank earnings are currently in a sweet spot. However, a decision to increase investment expenditure increases expense forecasts by around 2.5% for FY18.
The broker expects earnings per share and returns on equity to fall in FY18 and envisages little margin for error on loan losses, capital or the dividend.
Underweight rating retained. Industry view is In-Line. Target is $27.70.
Target price is $27.70 Current Price is $32.88 Difference: minus $5.18 (current price is over target).
If NAB meets the Morgan Stanley target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $31.87, suggesting upside of 35.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 198.00 cents and EPS of 234.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 232.5, implying annual growth of 1.9%. Current consensus DPS estimate is 198.0, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 198.00 cents and EPS of 242.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 239.2, implying annual growth of 2.9%. Current consensus DPS estimate is 192.6, implying a prospective dividend yield of 8.2%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates NAB as Add (1) -
NAB's result slightly missed the broker but was in line with consensus. The 99c dividend met the broker's forecast. Net interest margin increases were seen across all divisions.
The broker sees little downside risk in the bank's plans to slash its headcount and increase investment, but is less confident about other planned cost reductions. Forecast earnings fall -12% in FY18 to account for restructuring and investment costs and target falls to $34.50 from $35.00, but Add retained.
Target price is $34.50 Current Price is $32.88 Difference: $1.62
If NAB meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $31.87, suggesting upside of 35.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 198.00 cents and EPS of 225.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 232.5, implying annual growth of 1.9%. Current consensus DPS estimate is 198.0, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 198.00 cents and EPS of 256.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 239.2, implying annual growth of 2.9%. Current consensus DPS estimate is 192.6, implying a prospective dividend yield of 8.2%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates NAB as Hold (3) -
FY17 earnings of $6.6bn were 2% ahead of Ord Minnett's estimates. The main focus was on costs, with a $500-600m restructuring program and a step up in underlying costs in the short term.
Ord Minnett considers these additional costs a necessary evil and a catch-up for past under-investment as well as an adoption of a more realistic accounting policy later than peers.
Hold rating. Target raised to $31 from $30.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $31.00 Current Price is $32.88 Difference: minus $1.88 (current price is over target).
If NAB meets the Ord Minnett target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $31.87, suggesting upside of 35.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 EPS of 240.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 232.5, implying annual growth of 1.9%. Current consensus DPS estimate is 198.0, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 EPS of 220.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 239.2, implying annual growth of 2.9%. Current consensus DPS estimate is 192.6, implying a prospective dividend yield of 8.2%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates NAB as Sell (5) -
FY17 results were in line with expectations. The bank has announced a significant restructuring whereby it will increase investment expenditure by $1.5bn over the next three years. Costs will rise 5-8% in FY18.
UBS is disappointed by the announcement as the new FY20 cost guidance is 1.5-4% higher than prior forecasts. In effect, the bank's starting position on operating efficiency appears worse than the broker had previously believed.
Sell rating retained. Target rises to $29.00 from $27.50.
Target price is $29.00 Current Price is $32.88 Difference: minus $3.88 (current price is over target).
If NAB meets the UBS target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $31.87, suggesting upside of 35.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 198.00 cents and EPS of 213.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 232.5, implying annual growth of 1.9%. Current consensus DPS estimate is 198.0, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
UBS forecasts a full year FY19 EPS of 228.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 239.2, implying annual growth of 2.9%. Current consensus DPS estimate is 192.6, implying a prospective dividend yield of 8.2%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates NCK as Outperform (1) -
The trading update signalled the company expects first half net profit to increase 10-15%, supported by improved margins.
Macquarie believes the company is executing well and is confident it will generate earnings growth even in mixed trading conditions.
Store expansion opportunities are also sound and Macquarie expects the maturing of an elevated FY18 store roll-out profile will underpin earnings growth into FY19.
Outperform maintained. Target rises to $7.50 from $6.60.
Target price is $7.50 Current Price is $6.80 Difference: $0.7
If NCK meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 39.50 cents and EPS of 52.60 cents. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 40.90 cents and EPS of 57.00 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates ORI as Neutral (3) -
While previewing the upcoming FY17 release, Citi analysts observe how both Orica and Incitec Pivot ((IPL)) have significantly outperformed the broader market of late, driven by rotation into late cycle mining services exposures.
However, points out Citi, the outlook for Orica looks merely flat, at least for FY17. For the year ahead, Citi suggests FY18 guidance on the magnitude of management's breakaway program, volume growth and price resets will be critical.
Strong demand for explosives is by now truly reflected in the share price, find the analysts. Neutral rating and $18.15 target unchanged.
Target price is $18.15 Current Price is $20.96 Difference: minus $2.81 (current price is over target).
If ORI meets the Citi target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.46, suggesting downside of -29.2% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 55.00 cents and EPS of 105.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 105.9, implying annual growth of 15.1%. Current consensus DPS estimate is 54.3, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 23.3. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 59.00 cents and EPS of 111.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 107.4, implying annual growth of 1.4%. Current consensus DPS estimate is 57.5, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 23.0. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates OSH as Neutral (3) -
Macquarie considers the acquisition of leases on Alaska's North Slope a marked departure from the company's current business but, if successful, one which should prove accretive.
Macquarie remains cautious about attributing too much value as yet, as the block is a new play with very little data. The acquisition reduces 2017 and 2018 earnings per share estimates by -1% and -6% respectively.
Neutral rating maintained. Target price is $7.60.
Target price is $7.60 Current Price is $7.16 Difference: $0.44
If OSH meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $7.79, suggesting upside of 18.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 11.53 cents and EPS of 25.16 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of N/A. Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 27.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 7.34 cents and EPS of 16.12 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.0, implying annual growth of 5.9%. Current consensus DPS estimate is 10.9, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 26.4. |
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
Credit Suisse rates OZL as Upgrade to Neutral from Underperform (3) -
A general sector update has triggered an upgrade to Neutral from Underperform while the price target lifts to $7.90 from $7.30. Earnings estimates have received a boost.
Target price is $7.90 Current Price is $8.02 Difference: minus $0.115 (current price is over target).
If OZL meets the Credit Suisse target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.41, suggesting upside of 13.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 12.00 cents and EPS of 55.68 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.9, implying annual growth of 56.6%. Current consensus DPS estimate is 15.1, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 13.3. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 12.00 cents and EPS of 34.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.4, implying annual growth of -40.3%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 1.9%. Current consensus EPS estimate suggests the PER is 22.2. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates PLS as Downgrade to Neutral from Buy (3) -
Citi analysts have increased the probability on Pilgangoora expansion to 5mtpa, and this pushes up the price target to 95c from 68c. The rating is downgraded to Neutral/High Risk from Buy/High Risk.
Investors looking for lithium exposure are directed towards Buy rated Orocobre ((ORE)). Citi analysts are "fundamentally bullish" on lithium, but also believe increased supply has the potential to push the market back into surplus in 2018.
Target price is $0.95 Current Price is $0.85 Difference: $0.105
If PLS meets the Citi target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 1.10 cents. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 0.00 cents and EPS of 4.30 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates SFR as Upgrade to Neutral from Underperform (3) -
A general sector review and update has led to the upgrade to Neutral from Underperform, while the price target lifts to $5.60 from $4.90. A lift in copper price forecasts translates into significantly higher forecasts for Sandfire Resources.
Target price is $5.60 Current Price is $5.77 Difference: minus $0.17 (current price is over target).
If SFR meets the Credit Suisse target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.35, suggesting downside of -8.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 21.94 cents and EPS of 62.67 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.7, implying annual growth of 17.4%. Current consensus DPS estimate is 19.4, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 12.0. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 16.22 cents and EPS of 46.35 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 70.0, implying annual growth of 21.3%. Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 9.9. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates SUN as Neutral (3) -
The banking business delivered solid lending growth of 2.4% in the September quarter and Credit Suisse is encouraged by the outcome, increasing earnings estimates by 1.5% for FY18.
Impairment losses of four basis points were again below the company's target range of 10-20 basis points. Gross impaired assets decreased by -5.5% and the bank highlighted that business lending customers have benefited from improved trading and seasonal conditions.
Neutral rating and $14.50 target maintained.
Target price is $14.50 Current Price is $13.62 Difference: $0.88
If SUN meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $13.93, suggesting upside of 67.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 73.00 cents and EPS of 90.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 87.5, implying annual growth of 4.4%. Current consensus DPS estimate is 74.2, implying a prospective dividend yield of 8.9%. Current consensus EPS estimate suggests the PER is 9.5. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 76.00 cents and EPS of 101.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.8, implying annual growth of 10.6%. Current consensus DPS estimate is 75.8, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates SUN as Buy (1) -
The quarterly update delivered loan growth of 2.4%, double Deutsche Bank's forecasts and ahead of system. Credit quality remains strong, with bad debts stable.
Deutsche Bank believes the group is set up for a strong performance from the banking arm for the remainder of the year and retains a Buy rating. Target is raised to $14.50 from $14.20.
Target price is $14.50 Current Price is $13.62 Difference: $0.88
If SUN meets the Deutsche Bank target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $13.93, suggesting upside of 67.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 73.00 cents and EPS of 94.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 87.5, implying annual growth of 4.4%. Current consensus DPS estimate is 74.2, implying a prospective dividend yield of 8.9%. Current consensus EPS estimate suggests the PER is 9.5. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 74.00 cents and EPS of 95.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.8, implying annual growth of 10.6%. Current consensus DPS estimate is 75.8, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates SUN as Accumulate (2) -
The banking division's retail lending grew 2.4% in the September quarter, with the company noting it was driven mainly by home loans from its "marketplace" as a result of the simplified process to meet customer needs and improve retention.
Ord Minnett notes some growth in business lending in the quarter. Accumulate retained and target price remains $13.75.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $13.75 Current Price is $13.62 Difference: $0.13
If SUN meets the Ord Minnett target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $13.93, suggesting upside of 67.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 71.00 cents and EPS of 83.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 87.5, implying annual growth of 4.4%. Current consensus DPS estimate is 74.2, implying a prospective dividend yield of 8.9%. Current consensus EPS estimate suggests the PER is 9.5. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 73.00 cents and EPS of 96.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.8, implying annual growth of 10.6%. Current consensus DPS estimate is 75.8, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates SUN as Buy (1) -
First quarter bank disclosures signalled improved momentum at the top line and UBS notes gross loans rose 2.4% sequentially.
The broker's view is based on stability in bank earnings for 12-18 months, with a premium rate-driven recovery in general insurance providing some upside risk.
Buy and $14.80 target retained.
Target price is $14.80 Current Price is $13.62 Difference: $1.18
If SUN meets the UBS target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $13.93, suggesting upside of 67.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 77.00 cents and EPS of 88.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 87.5, implying annual growth of 4.4%. Current consensus DPS estimate is 74.2, implying a prospective dividend yield of 8.9%. Current consensus EPS estimate suggests the PER is 9.5. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 81.00 cents and EPS of 97.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.8, implying annual growth of 10.6%. Current consensus DPS estimate is 75.8, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates SWM as Hold (3) -
The company has pointed to soft operations in the first quarter because of both market conditions and weaker ratings. Guidance has been downgraded for FY18 operating earnings (EBIT) to be in the range of $220-240m.
Deutsche Bank calculates this implies a fall of -12% at the mid point, a reduction from previous guidance for FY18 to be down -5%. New guidance suggests management has effectively walked away from its prior target for increased TV revenue share in FY18.
Hold rating retained. Target is reduced to $0.75 from $0.80.
Target price is $0.75 Current Price is $0.66 Difference: $0.095
If SWM meets the Deutsche Bank target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $0.73, suggesting downside of -52.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 5.00 cents and EPS of 8.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.2, implying annual growth of N/A. Current consensus DPS estimate is 4.7, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 16.6. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 4.00 cents and EPS of 9.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.0, implying annual growth of -2.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 17.0. |
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates SWM as Underweight (5) -
The company now expects FY18 operating earnings to be in the range of $220-240m, implying a fall of -9-19% on FY17.
Morgan Stanley notes first quarter operating conditions have been soft, given weaker market conditions and ratings performance.
The broker retains an Underweight rating and 70c target. Industry view is Attractive.
Target price is $0.70 Current Price is $0.66 Difference: $0.045
If SWM meets the Morgan Stanley target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $0.73, suggesting downside of -52.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.2, implying annual growth of N/A. Current consensus DPS estimate is 4.7, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 16.6. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 EPS of 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.0, implying annual growth of -2.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 17.0. |
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates SYR as Buy (1) -
The company's September quarter signalled construction at Balama is largely complete and commissioning ongoing. First bagged production has been pushed into the second half of November.
The company has experienced rising prices for flake graphite on the back of production cuts in China and solid demand. Deutsche Bank updates production numbers and realised pricing, leading to a -3% reduction in valuation.
Buy rating retained. Target is reduced to $4.50 from $4.60.
Target price is $4.50 Current Price is $3.38 Difference: $1.12
If SYR meets the Deutsche Bank target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $4.46, suggesting upside of 93.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -10.6, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 0.00 cents and EPS of 2.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.8, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 39.7. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates TLS as Sell (5) -
Citi analysts returned from Telstra's Investor Day with the understanding the company will be moving beyond its core strength and capabilities to capture value and growth from the emergence of 5G and Internet of Things.
This, predict the analysts, will require significant investment. As such, Citi maintains its Sell rating, as well as the $3.25 price target. The analysts also picked up that Q1 saw operational trends deteriorate.
Target price is $3.25 Current Price is $3.57 Difference: minus $0.315 (current price is over target).
If TLS meets the Citi target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.79, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 22.00 cents and EPS of 22.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of -5.8%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.7. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 21.00 cents and EPS of 17.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.4, implying annual growth of -0.7%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates TLS as Buy (1) -
FY18 guidance has been reaffirmed although Deutsche Bank notes some soft first quarter operating trends, including a slight decline in mobile service revenue and slower rate of growth in post-paid ARPU.
Deutsche Bank had already been forecasting a reduction in the number of first half post-paid net additions.
Management has also signalled that demand for the iPhone 8 has been below previous iPhone launches.
Deutsche Bank retains a Buy rating and raises the target to $4.05 from $4.00.
Target price is $4.05 Current Price is $3.57 Difference: $0.485
If TLS meets the Deutsche Bank target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $3.79, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 22.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of -5.8%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.7. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 24.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.4, implying annual growth of -0.7%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates TLS as Neutral (3) -
Macquarie found the start of FY18 modestly below expectations in mobiles and fixed telecoms. Management is optimistic trends in mobiles will improve into the second quarter.
The broker liked the extra detail on the technology vision, with the company highlighting its ambitions to grow revenue and earnings from new software and platform solutions.
Macquarie retains a Neutral rating and $3.70 target.
Target price is $3.70 Current Price is $3.57 Difference: $0.135
If TLS meets the Macquarie target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.79, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 22.00 cents and EPS of 24.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of -5.8%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.7. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 22.00 cents and EPS of 21.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.4, implying annual growth of -0.7%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates TLS as Underweight (5) -
The company's investor briefing increased Morgan Stanley's conviction that monopoly returns are fading, and likely to be at a faster rate than generally expected.
The broker believes the strategy for growth after completion of the one-off NBN payments is still not clear and continues to doubt whether the current dividend is sustainable.
Target drops to $3.40 from $3.70. Underweight weighting retained. Industry view In-Line.
Target price is $3.40 Current Price is $3.57 Difference: minus $0.165 (current price is over target).
If TLS meets the Morgan Stanley target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.79, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 22.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of -5.8%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.7. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 22.00 cents and EPS of 34.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.4, implying annual growth of -0.7%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates TLS as Add (1) -
Telstra highlighted weakness in mobile in a tough environment at its investor day which surprised the market but not the broker. The broker also sees earnings upside from a plan to merge fixed and mobile and 5G should help the company capture market share in the Internet of Things.
The broker also sees the NBN 'hole' as not being as large given the chance prices will fall. Add retained on a valuation basis and target unchanged at $4.15.
Target price is $4.15 Current Price is $3.57 Difference: $0.585
If TLS meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $3.79, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 22.00 cents and EPS of 33.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of -5.8%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.7. |
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 22.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.4, implying annual growth of -0.7%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates TLS as Hold (3) -
The company has updated on the first quarter with more detail around the revenue potential from data and analytics as well as its drive to become a technology oriented company.
Ord Minnett was disappointed with the update, as well as the lack of concrete revenue targets from some of the new potential revenue streams. The broker fears these could simply be an evolution of telecom services and just displace existing revenues.
Hold. Target is $3.85.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $3.85 Current Price is $3.57 Difference: $0.285
If TLS meets the Ord Minnett target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $3.79, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 22.00 cents and EPS of 34.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of -5.8%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.7. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 22.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.4, implying annual growth of -0.7%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates TLS as Neutral (3) -
Telstra has provided a soft first quarter trading update, indicating mobile revenues are lower while the rate of post-paid mobile subscriber growth has slowed. UBS believes a softer result should have been expected.
The company has flagged the sale of around 2500 telephone exchange assets which would be done progressively in line with the NBN roll-out.
Neutral rating and $3.90 target.
Target price is $3.90 Current Price is $3.57 Difference: $0.335
If TLS meets the UBS target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $3.79, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 22.00 cents and EPS of 34.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of -5.8%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.7. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 22.00 cents and EPS of 33.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.4, implying annual growth of -0.7%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates TME as Underperform (5) -
Macquarie reviews forecasting assumptions ahead of the AGM. The broker forecasts revenue growth of 6% in FY18 and acknowledges downside risk to forecasts.
Underperform retained. Target falls to NZ$4.70 from NZ$4.80.
Current Price is $4.00. Target price not assessed.
Current consensus price target is $4.55, suggesting upside of 67.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 17.94 cents and EPS of 22.42 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.7, implying annual growth of N/A. Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 6.6%. Current consensus EPS estimate suggests the PER is 12.0. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 18.87 cents and EPS of 23.54 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.6, implying annual growth of 8.4%. Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.1. |
This company reports in NZD. 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
Citi rates WFD as Neutral (3) -
Recent market updates from peers in the USA have highlighted downward pressures for mall operators, point out Citi analysts. Share prices for mall REITs in the US have come under pressure as a result.
Thus far, Westfield shares are only down a little. The analysts highlight elevated retailer administrations have weighed heavily on mall occupancies this year.
Citi retains a cautious view on mall operators listed in Australia. Westfield remains least preferred. Neutral rating and $8.32 price target left untouched.
Target price is $8.32 Current Price is $7.77 Difference: $0.55
If WFD meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $8.95, suggesting upside of 15.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 33.68 cents and EPS of 44.77 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.0, implying annual growth of N/A. Current consensus DPS estimate is 32.6, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 34.33 cents and EPS of 45.55 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.6, implying annual growth of 6.2%. Current consensus DPS estimate is 33.8, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 17.4. |
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
Summaries
| AMA | AMA GROUP | Buy - UBS | Overnight Price $0.94 |
| AQG | ALACER GOLD | Outperform - Macquarie | Overnight Price $2.14 |
| BAP | BAPCOR LIMITED | Overweight - Morgan Stanley | Overnight Price $5.49 |
| Add - Morgans | Overnight Price $5.49 | ||
| BLA | BLUE SKY ALT INV | Downgrade to Hold from Add - Morgans | Overnight Price $14.30 |
| BLD | BORAL | Buy - Deutsche Bank | Overnight Price $7.15 |
| Outperform - Macquarie | Overnight Price $7.15 | ||
| Overweight - Morgan Stanley | Overnight Price $7.15 | ||
| Hold - Ord Minnett | Overnight Price $7.15 | ||
| CCP | CREDIT CORP GROUP | Hold - Morgans | Overnight Price $20.13 |
| CYB | CYBG | Outperform - Credit Suisse | Overnight Price $5.49 |
| DMP | DOMINO'S PIZZA | Initiation of coverage with Neutral - Credit Suisse | Overnight Price $45.20 |
| DOW | DOWNER EDI | Outperform - Macquarie | Overnight Price $7.06 |
| FXJ | FAIRFAX MEDIA | Overweight - Morgan Stanley | Overnight Price $1.09 |
| JHX | JAMES HARDIE | Hold - Ord Minnett | Overnight Price $19.51 |
| KAR | KAROON GAS | Outperform - Macquarie | Overnight Price $1.22 |
| MYR | MYER | Sell - UBS | Overnight Price $0.74 |
| NAB | NATIONAL AUSTRALIA BANK | Neutral - Citi | Overnight Price $32.88 |
| Outperform - Credit Suisse | Overnight Price $32.88 | ||
| Buy - Deutsche Bank | Overnight Price $32.88 | ||
| Outperform - Macquarie | Overnight Price $32.88 | ||
| Underweight - Morgan Stanley | Overnight Price $32.88 | ||
| Add - Morgans | Overnight Price $32.88 | ||
| Hold - Ord Minnett | Overnight Price $32.88 | ||
| Sell - UBS | Overnight Price $32.88 | ||
| NCK | NICK SCALI | Outperform - Macquarie | Overnight Price $6.80 |
| ORI | ORICA | Neutral - Citi | Overnight Price $20.96 |
| OSH | OIL SEARCH | Neutral - Macquarie | Overnight Price $7.16 |
| OZL | OZ MINERALS | Upgrade to Neutral from Underperform - Credit Suisse | Overnight Price $8.02 |
| PLS | PILBARA MINERALS | Downgrade to Neutral from Buy - Citi | Overnight Price $0.85 |
| SFR | SANDFIRE | Upgrade to Neutral from Underperform - Credit Suisse | Overnight Price $5.77 |
| SUN | SUNCORP | Neutral - Credit Suisse | Overnight Price $13.62 |
| Buy - Deutsche Bank | Overnight Price $13.62 | ||
| Accumulate - Ord Minnett | Overnight Price $13.62 | ||
| Buy - UBS | Overnight Price $13.62 | ||
| SWM | SEVEN WEST MEDIA | Hold - Deutsche Bank | Overnight Price $0.66 |
| Underweight - Morgan Stanley | Overnight Price $0.66 | ||
| SYR | SYRAH RESOURCES | Buy - Deutsche Bank | Overnight Price $3.38 |
| TLS | TELSTRA CORP | Sell - Citi | Overnight Price $3.57 |
| Buy - Deutsche Bank | Overnight Price $3.57 | ||
| Neutral - Macquarie | Overnight Price $3.57 | ||
| Underweight - Morgan Stanley | Overnight Price $3.57 | ||
| Add - Morgans | Overnight Price $3.57 | ||
| Hold - Ord Minnett | Overnight Price $3.57 | ||
| Neutral - UBS | Overnight Price $3.57 | ||
| TME | TRADE ME GROUP | Underperform - Macquarie | Overnight Price $4.00 |
| WFD | WESTFIELD CORP | Neutral - Citi | Overnight Price $7.77 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 21 |
| 2. Accumulate | 1 |
| 3. Hold | 17 |
| 5. Sell | 8 |
Friday 03 November 2017
Access Broker Call Report Archives here
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.
Latest News
| 1 |
The Market In Numbers – 23 Nov 20249:09 AM - Australia |
| 2 |
ASX Winners And Losers Of Today – 22-11-24Nov 22 2024 - Daily Market Reports |
| 3 |
FNArena Corporate Results Monitor – 22-11-2024Nov 22 2024 - Australia |
| 4 |
Next Week At A Glance – 25-29 Nov 2024Nov 22 2024 - Weekly Reports |
| 5 |
Weekly Top Ten News Stories – 22 November 2024Nov 22 2024 - Weekly Reports |