BPT – Morgans rates the stock as Add
The Add rating is maintained and the target price decreases to $2.20 from $2.25.
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BGL – Macquarie rates the stock as Outperform
Target price rises to $1.05 from $1. Outperform rating retained.
Read MoreWHC – Credit Suisse rates the stock as Downgrade to Neutral
Credit Suisse downgrades to Neutral from Outperform with the target price dropping to $1.55 from $1.95.
Read MorePDL – Morgans rates the stock as Add
Morgans upgrades the EPS forecast for FY21 by 7.2% in FY21 and circa 2% in outer years. The Add rating is unchanged and the target price is increased $8.10 from $7.15.
Read MoreALD – Credit Suisse rates the stock as Neutral
Credit Suisse retains a Neutral rating and raises the target to $27.54 from $27.50.
Read MoreBOQ – Morgans rates the stock as Add
The Add rating is unchanged and the target is increased to $10.50 from $10.
Read MoreRRL – Morgans rates the stock as Add
The Add rating is unchanged and the target price falls to $4.01 from $4.44.
Read MoreGXY – Macquarie rates the stock as Outperform
The broker upgrades its expectations for Sal de Vida to match the plan and raises the target to $4.50 from $4.20.
Read MoreZ1P – UBS rates the stock as Sell
UBS retains a Sell rating and raises the target to $6.50 from $6.40.
Read MoreRRL – Credit Suisse rates the stock as Outperform
Outperform retained. Target is reduced to $4.40 from $5.05.
Read MoreMX1 – Morgans rates the stock as Add
The Buy (Speculative) and $0.61 price target are unchanged. The downside risk is a delay in securing further Nano and Rover orders, cautions the analyst.
Read MoreBSL – Macquarie rates the stock as Outperform
Outperform retained. Target is raised to $23.50 from $21.65.
Read MoreWEB – Morgans rates the stock as Hold
Morgans retains the Hold rating and $4.92 price target.
Read MoreMQG – Citi rates the stock as Sell
Sell rating reiterated. Target is $125.
Read MoreTAH – Credit Suisse rates the stock as Upgrade to Outperform
Rating is upgraded to Outperform from Neutral and the target increased to $5.70 from $4.60.
Read MoreAGI – UBS rates the stock as Sell
UBS’ Sell rating is maintained. Target is increased to $0.35 from $0.30.
Read MoreASX – Credit Suisse rates the stock as Neutral
Credit Suisse maintains its Neutral rating with the target price rising to $74 from $71.
Read MoreTYR – Morgans rates the stock as Add
Morgans initiates coverage of Australia’s fifth largest merchant acquiring bank, Tyro Payments, with an Add rating and a target price of $4.25.
Read MoreCWY – UBS rates the stock as Neutral
Cleanaway Waste has announced the potential acquisition of the Suez Groupe recycling & recovery business in Australia for $2.52bn. Neutral rating and $2.35 target retained.
Read MoreVMY – Morgans rates the stock as Add
Morgans considers the wholly-owned Mulga Rock uranium project is robust though it requires long-term sales contracts. Add rating and $0.17 target price are unchanged.
Read MoreFCL – Macquarie rates the stock as Outperform
Macquarie expects the new contract with American Public Life Insurance will underpin the company’s performance. Outperform rating and $4.63 target retained.
Read MoreNWL – Credit Suisse rates the stock as Neutral
Netwealth Group has advised the rate it was receiving on cash will be terminated in 12 months. Credit Suisse retains its Neutral rating with the target falling to $14.40 from $17.50.
Read MoreA2M – UBS rates the stock as Buy
UBS believes tracking Australasian infant formula sales has become more challenging amid a disconnection from Australian exports. Buy rating and target of NZ$16.00.
Read MoreRIO – UBS rates the stock as Neutral
UBS maintains its Neutral rating on Rio Tinto but slashes the target to $104 from $126.
Read MoreS32 – Macquarie rates the stock as Outperform
South32 has amended the sales agreement for South Africa Energy Coal. Macquarie considers this sale will be a major catalyst for South32 once finalised. Outperform rating and $3.10 target retained.
Read MoreCMM – Macquarie rates the stock as Neutral
Macquarie notes development of the Karlawinda gold project is nearing completion. Neutral rating and $1.60 target retained.
Read MoreCHC – Macquarie rates the stock as Outperform
Macquarie notes the company’s development pipeline is getting larger, at $7bn, aiding returns to both unit holders and the underlying funds. Outperform rating and $15.78 target retained.
Read MoreFMG – UBS rates the stock as Downgrade to Neutral
UBS downgrades to Neutral from Buy, reducing the target to $18 from $25. Fortescue Metals has generated a total shareholder return of 213% over 12 months on the back of the strong iron ore price.
Read MoreDBI – Credit Suisse rates the stock as Outperform
Credit Suisse regards the Final Decision of the QCA to transition to a light-touch framework as a key catalyst for the company and raises the target to $2.75 from $2.50 while the Outperform rating is maintained.
Read MoreNAB – Macquarie rates the stock as Neutral
Macquarie draws upon the UK experience to estimate the impact upon bank margins of lower rates for lower loan-to value ratio (LVR) mortgages. The Neutral rating and $26.75 target are retained.
Read MoreSTO – UBS rates the stock as Buy
Barossa has achieved a final investment decision which de-risks the project. Santos has an agreement to sell 25% of Darwin LNG and Bayu-Undan on achieving FID at Barossa. UBS retains a Buy rating and raises the target to $8.35 from $8.20.
Read MoreALL – Credit Suisse rates the stock as Outperform
The company has noted that slot machine industries in Australia and the US have recovered beyond original hopes and turnover through its machines is above pre-pandemic expectations. Credit Suisse retains an Outperform rating. Target is raised to $38.00 from $34.50.
Read MoreAFG – Morgans rates the stock as Upgrade to Add
Morgans increases EPS forecasts for FY22 and FY23 by 6.8% and 8.4% due to increased net interest margin (NIM) forecasts and increased loan growth forecasts. The rating is upgraded to Add from Hold and the target to $2.90 from $2.60.
Read MoreMIN – Macquarie rates the stock as Outperform
Mineral Resources has rights to new onshore exploration blocks in the Perth Basin and Pilbara. Macquarie maintains an Outperform rating. Target is $50.
Read MoreCPU – UBS rates the stock as Neutral
UBS incorporates the Corporate Trust Services acquisition into its modelling. The broker retains a Neutral rating and raises the target to $16.25 from $15.00.
Read MoreSM1 – UBS rates the stock as Buy
UBS lowers estimates by -94% for FY21 and -18% for FY22, reflecting a temporary increase in manufacturing unit costs and lower basic ingredient price premiums. Buy rating retained. Target is reduced to NZ$5.55 from NZ$5.75.
Read MoreREA – Credit Suisse rates the stock as Upgrade to Neutral
REA Group will acquire all of Mortgage Choice ((MOC)) via a scheme of arrangement. The offer is $1.95 a share. Credit Suisse’s rating is upgraded to Neutral from Underperform. Target is $136.70.
Read MoreCBA – Citi rates the stock as Neutral
Citi believes the decline of credit card profitability is overstated (though real) in the context of other banking products and more attributable to the rise of debit, not BNPL. Price target of $82.50 and Neutral rating are unchanged.
Read MoreORG – Macquarie rates the stock as Neutral
A rally in Brent oil has boosted expectations for FY22 APLNG earnings. Macquarie’s Neutral rating retained. Target is reduced to $5.21 from $5.44.
Read MoreCOE – Morgans rates the stock as Downgrade to Hold
Morgans lowers the rating to Hold from Add and the target to $0.30 from $0.39 given short-term uncertainty around the path to reaching nameplate at Sole.
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