ITG – Morgans rates the stock as Add
Intega Group’s 1H21 result revealed earnings (EBITDA) in excess of Morgans estimates and a surprise 1 cent dividend. Morgans’ Add rating is maintained. The target price is increased to $0.58 from $0.50.
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SYD – UBS rates the stock as Neutral
Sydney Airport’s 2020 result was hit by one-offs with operating income an estimated $130m in the second half versus last year’s $687m. UBS to stick to Neutral rating with the target falling to $6 from $6.60.
Read MoreRHC – Credit Suisse rates the stock as Neutral
Credit Suisse expects Ramsay Healthcare should be a beneficiary of a volume tailwind post covid and its $69 target price and Neutral credit rating.
Read MoreACF – Morgans rates the stock as Add
First half underlying earnings exceeded Morgans forecast by 13% as revenue in the key formwork division jumped 46%. Add rating and target is increased to $0.50 from $0.40.
Read MoreSDF – UBS rates the stock as Buy
First half operating earnings were ahead of UBS estimates. Equity broking was the surprise, with strong operating leverage likely driven by lower expenses. Buy rating and $4.38 target retained.
Read MoreAUB – Credit Suisse rates the stock as Outperform
AUB Group’s net profit at $30.7m was up 44% versus last year and 14% ahead of Credit Suisse’s forecast. Outperform retained. Target rises to $20 from $18.40.
Read MoreRHC – UBS rates the stock as Neutral
APRA data has revealed benefits paid to private hospitals declined -3.3% in the December quarter. UBS retains a Neutral rating and $69.90 target.
Read MoreSKI – Morgans rates the stock as Hold
The FY20 performance was in-line with Morgans expectations while FY21-25 DPS guidance was better than expected. The Hold rating is maintained. The target price is increased to $2.17 from $2.16.
Read MoreMQG – Morgans rates the stock as Add
Macquarie Group has upgraded recent guidance for profit (NPAT) to be “slightly down on FY20” to now “up around 5%-10%” on pcp. Morgans’ Add rating is unchanged and the target price increased to $162.3 from $147.
Read MoreBSL – UBS rates the stock as Neutral
BlueScope Steel pre-reported group operating income of $530m. UBS retains a Neutral rating and reduces the target to $18.04 from $18.25.
Read MoreSTO – UBS rates the stock as Buy
2020 underlying earnings were below UBS estimates because of higher corporate costs and a change in inventory. Buy rating retained. Target is raised to $7.90 from $7.70.
Read MoreMAI – Morgans rates the stock as Add
The first half result was in-line with Morgans expectations at the revenue level and well ahead of earnings (EBITDA) forecasts. The target increases to $1.22 from $1.14. The Add rating is retained.
Read MoreQBE – Morgans rates the stock as Add
QBE Insurance Group’s FY20 statutory loss of –US$1.5bn was in-line with the company’s December market update. Add rating and target is reduced to $10.08 from $10.37, as Morgans lowers FY21-22 EPS forecast by -8% and -1%
Read MoreDBI – Credit Suisse rates the stock as Outperform
Credit Suisse initiates coverage on Dalrymple Bay Infrastructure with an Outperform rating and a target price of $2.50.
Read MoreORG – UBS rates the stock as Buy
First half results were ahead of UBS estimates, largely because of a strong operating performance from APLNG. Buy rating retained. Target is reduced to $5.50 from $5.75.
Read MoreORA – Morgans rates the stock as Hold
Orora’s first half result was comfortably ahead of Morgans expectations and the broker increases underlying earnings forecasts by between 1-2% for FY21-23. Hold rating and the target is increased to $3 from $2.61.
Read MoreABP – Credit Suisse rates the stock as Outperform
Abacus Property Group’s first half did not come as a surprise given the company had provided guidance. Credit Suisse’s Outperform rating maintained. Target falls to $3.04 from $3.09.
Read MoreCSL – UBS rates the stock as Buy
Despite a robust first half result , UBS expects a significantly lower second half net profit. Buy rating retained. Target is reduced to $330 from $339.
Read MoreDMP – Credit Suisse rates the stock as Underperform
Domino’s Pizza Enterprises produced the strongest result and outlook in many years, notes Credit Suisse, led by higher delivery food consumption in the lockdown. Target rises to $71.11 from $63.58. Underperform retained.
Read MoreSUL – UBS rates the stock as Buy
First half results were in line with guidance and UBS notes cash flow was strong. UBS retains a Buy rating. Target is raised to $12.80 from $12.60.
Read MoreHDN – Morgans rates the stock as Add
The maiden first half result for HomeCo Daily Needs REIT delivered funds from operations (FFO) of $3.1m which was ahead of the $2.5m prospectus forecast. The Add rating is maintained and Morgans’ target price is increased to $1.45 from $1.44.
Read MoreGWA – Credit Suisse rates the stock as Neutral
GWA Group’s first-half operating income and net profit were -3% below Credit Suisse’s forecasts. Neutral rating with the target rising to $3.15 from $2.85.
Read MoreADH – Morgans rates the stock as Add
Adairs’ first half result was slightly above Morgans earnings (EBIT) and profit (NPAT) forecasts. The Add rating is maintained and the target price is increased to $4.50 from $4.00.
Read MoreNAB – UBS rates the stock as Buy
The first quarter pre-provision profits were in line with expectations. Cash net profit was ahead, given lower credit impairment charges. UBS Buy retained. Target rises to $27 and $25.
Read MoreCQR – UBS rates the stock as Neutral
First half results were slightly below UBS estimates. FY21 earnings guidance is for “no less than 27.3c”, slightly ahead of the broker’s forecast. Neutral rating and $3.60 target retained.
Read MoreALU – Credit Suisse rates the stock as Outperform
With revenue pre-released, Credit Suisse found no surprises in Altium’s top line numbers. Outperform rating retained with a target of $35.
Read MoreIPL – Morgans rates the stock as Add
Despite a number of North American plant outages, Morgans estimates the rest of the business will offset these impacts. Add rating and price target increased to $3.25 from $2.50.
Read MoreBBN – Macquarie rates the stock as Outperform
First half net profit was up 43.5%, although less than Macquarie estimated. Outperform maintained. Target is raised to $5.80 from $5.30.
Read MoreARF – Credit Suisse rates the stock as Neutral
Arena REIT’s first-half result was in line with Credit Suisse’s expectations in terms of operating profit and earnings per share. Neutral retained. Target is raised to $3.04 from $2.91.
Read MoreRHC – UBS rates the stock as Neutral
UBS expects operating earnings in the first half of $971m, down -8%. The broker retains a Neutral rating and reduces the target to $69.90 from $71.20.
Read MoreAMP – Macquarie rates the stock as Upgrade to Neutral
Having initially retained an Underperform rating after a first galance at AMP’s result yesterday, Macquaire has now decided to upgrade to Neutral. Target rises to $1.45 from $1.30.
Read MoreNCM – Credit Suisse rates the stock as Outperform
Newcrest Mining beat Credit Suisse’s forecasts with respect to first-half net profit result with cash flow of US$439m setting a new record for the December half. Outperform retained. Target rises to $33.90 from $33.20.
Read MoreGNC – Morgans rates the stock as Add
In what Morgans considers extremely strong FY21 guidance, GrainCorp is reaping the combined benefits of operational initiatives and the largest east coast winter grain crops on record. Add rating. The target increases to $5.52 from $4.71.
Read MoreAQZ – Credit Suisse rates the stock as Outperform
Alliance Aviation Services’ interim result shows rapidly improving unit economics, excellent cash conversion and increasingly simpler accounts, assesses Credit Suisse. The Outperform rating is unchanged and the target increased to $5.40 from $5.10.
Read MoreCPU – UBS rates the stock as Neutral
First half results were broadly in line with UBS estimates. The broker assesses growth in earnings per share is negative over the short term. Neutral retained with a target price of $15.
Read MoreMP1 – Morgans rates the stock as Hold
Morgans makes immaterial forecast changes for Megaport as key metrics were disclosed prior to the first half result. Hold and $13.27 target are unchanged.
Read MoreCBA – Credit Suisse rates the stock as Neutral
Commonwealth Bank reported cash earnings of $3,886m, down -11% versus last year but above Credit Suisse’s estimate of $3,513m. The broker decides to maintain its Neutral rating and increase its target price to $85 from $82.
Read MoreVOC – UBS rates the stock as Neutral
UBS sees a higher probability for MIRA’s current $5.50 bid for Vocus Group to succeed given conducive macro conditions and MIRA’s track record in the space. Neutral with a target of $4.40.
Read MoreCWN – Macquarie rates the stock as Downgrade to Neutral
Crown Resorts has been deemed unsuitable for the Crown Sydney licence and Macquarie assesses the pathway to obtaining approval is onerous and may take two years. Macquarie downgrades to Neutral from Outperform. Target is reduced to $8.30 from $11.00.
Read MoreKGL – Morgans rates the stock as Add
All primary approvals have been received from the NT government for the development of KGL Resources’ wholly-owned Jervois copper-gold-silver mine. Morgans slightly alters the rating to Speculative Buy from Add and increases the target to $0.619 from $0.377.
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