SGR – Deutsche Bank rates the stock as Buy
Deutsche Bank considers the Queensland government’s call for registrations of interest to develop a global tourism hub on the Gold Coast a minor negative for Star Entertainment.
Read MoreBroker News
PNL – Macquarie rates the stock as Outperform
The company has achieved first production at Poplar Grove and this will ramp up over 2019. First sales of coal to a contracted buyer are slated for the end of the month.
Read MoreRMD – UBS rates the stock as Neutral
UBS delves into the financial implications of the company’s recent software-as-a-service/connected care acquisitions and joint ventures.
Read MoreOEL – Morgans rates the stock as Add
Morgans upgrades estimates and valuation post the recent discovery at Lightning. First production from Lightning is on track for March. This will be the company’s second producing asset, as it explores the on or near-shore targets.
Read MoreCIM – Macquarie rates the stock as Downgrade to Neutral from Outperform
Macquarie downgrades to Neutral from Outperform as the stock is now trading close to its target. The broker believes the share price has also caught up with the traditional correlation to earnings. Target is raised to $50.90 from $50.26.
Read MoreNUF – Deutsche Bank rates the stock as Upgrade to Buy from Hold
After upgrading to Hold in January Deutsche Bank has now upgraded Nufarm to Buy, as the stock is now trading at a -16% discount to valuation.
Read MoreKLL – Macquarie rates the stock as Outperform
The company has reported an -$9.3m loss for the first half. Macquarie finds catalysts aplenty in the second half, as the company is finalising an offtake agreement and debt discussions continue with the credit agency.
Read MoreFNP – Morgans rates the stock as Hold
First half results were below expectations. Morgans forgives some of the miss, given the strategic decision to exit a large number of low-margin contract manufacturing arrangements, because it will build a better business over the medium term.
Read MoreALX – Deutsche Bank rates the stock as Buy
2018 operating earnings (EBITDA) were ahead of Deutsche Bank’s forecasts. Growth continues to be supported by traffic, smaller declines on the Dulles Greenway and toll increases.
Read MoreAMS – Morgans rates the stock as Add
The maiden result represented 57% of the FY19 prospectus forecast. Strong growth was underpinned by the launch of the Ninja V as well as higher-than-forecast bundle sales across various products.
Read MoreOZL – Morgans rates the stock as Downgrade to Hold from Add
2018 results were in line with expectations. Morgans observes the company continues to prudently manage its growth options. The focus is on re-affirming the construction schedule and budget for Carrapateena.
Read MoreASG – Macquarie rates the stock as Neutral
The auto market has recorded its longest run of weakness since the GFC, the broker notes, and its only getting worse. Autosports result, in line with a pre-release, demonstrated a high degree of financial and operational leverage in the company’s business model.
Read MoreRIO – Deutsche Bank rates the stock as Hold
2018 earnings were in line with Deutsche Bank’s estimates. The broker observes the company’s preference now appears to have switched to dividends as opposed to buybacks, with the first special dividend declared since 2006.
Read MoreGEM – Morgans rates the stock as Downgrade to Hold from Add
2018 results were in line with guidance. Morgans observes occupancy in the year to date is up around 2% but excess supply continues to make for a challenging market.
Read MoreSKI – Deutsche Bank rates the stock as Hold
2018 results were consistent with Deutsche Bank’s forecasts. Management has reaffirmed distribution guidance for 2019 of at least 15.0c per share.
Read MoreIPL – UBS rates the stock as Neutral
UBS has cut Incitec Pivot’s forecast earnings by -20% in FY19 due to damage caused in the floods to the rail line linking the company’s Phosphate Hill ammonia plant in Mt Isa to the port at Townsville.
Read MorePRU – Credit Suisse rates the stock as Outperform
First-half earnings (EBITDA) were in line with Credit Suisse estimates. Cash is being preserved to reduce the debt funding for Sissingue and support the development of Yaoure.
Read MoreBLD – UBS rates the stock as Neutral
Boral’s result has provided the broker with more confidence management’s FY19 guidance can be achieved. A fly ash price increase of 13% and counting underpins that confidence although guidance for a flat FY in Australia still looks risky in the context of the housing slowdown, in the broker’s view.
Read MoreAPX – Citi rates the stock as Downgrade to Neutral from Buy
Appen’s 2018 financial performance seems to have beaten expectations, but Citi, in firm reference to the 75% share price rally year-to-date, downgrades to Neutral from Buy. The analysts have added 18%-20% to forecasts.
Read MoreMYX – UBS rates the stock as Neutral
Mayne Pharma’s result was a big improvement on a weak previous period but was currency-assisted and disappointed nonetheless. Specialty brands stood out in revenue terms, the broker notes, but costs were elevated for various reasons.
Read MoreQAN – Credit Suisse rates the stock as Neutral
Despite signs of consumer weakness in many other sectors, management considers the current demand environment is healthy. First half pre-tax profit was slightly below Credit Suisse estimates.
Read MoreWES – UBS rates the stock as Downgrade to Sell from Neutral
Wesfarmers’ result was not as strong as it appeared on the headline, given various one-offs, and underlying earnings only exceeded UBS’ forecast slightly. Bunnings missed the mark and Kmart and industrials earnings declined.
Read MoreSYD – Deutsche Bank rates the stock as Buy
While the 2018 results were slightly lower than expected, 2019 distribution guidance was also softer than Deutsche Bank forecast.
Read MoreCCL – Credit Suisse rates the stock as Neutral
The second half of 2018 was a little weaker than Credit Suisse forecast. There is no change to guidance and 2019 remains a transition year as the company invests in Australian selling capacity and increases marketing expenditure in Indonesia.
Read MoreSPK – Credit Suisse rates the stock as Underperform
First-half earnings growth was in line with forecasts, although Credit Suisse suspects the business may be heading towards the bottom end of guidance for FY19.
Read MoreA2M – UBS rates the stock as Neutral
It was another strong result from a2Milk, ahead of the broker, driven by A&NZ and China.
Read MoreSHL – Morgans rates the stock as Add
Sonic Healthcare’s first-half result beat the broker, the company reporting strong organic cash flow and cash conversion of 101%.
Read MoreCRN – Morgans rates the stock as Add
Morgans is forecasting a 25%-plus yield over 13 months for metallurgical coal company Coronado Global Resources.
Read MoreARF – Macquarie rates the stock as Downgrade to Neutral from Outperform
First half results were in line with Macquarie’s estimates. FY19 distribution guidance has been reaffirmed.
Read MoreCOL – UBS rates the stock as Sell
Coles’ result fell short of the broker on higher supermarket costs and lost market share in the second quarter. Liquor did well and cash flow was otherwise strong but margins compressed.
Read MoreNHF – Macquarie rates the stock as Neutral
First-half net profit was ahead of Macquarie’s estimates. Record results from ARHI and international health insurance were supported by growth in premiums and expanded margins.
Read MoreBXB – UBS rates the stock as Buy
Brambles’ result has led the broker to reduce earnings forecasts, noting a -1% earnings decline under new accounting standards and a weaker than expected performance for CHEP Americas, due to cost escalation and recovery issues.
Read MoreANN – Credit Suisse rates the stock as Neutral
First half results were ahead of Credit Suisse estimates, although the top line disappointed as global markets weakened. This situation is expected to continue, despite the company targeting 3-4% organic sales growth in FY19.
Read MoreMPL – Deutsche Bank rates the stock as Buy
First half results were strong and Deutsche Bank notes ambitious medium-term targets. The company has also flagged the possibility of capital management at its full-year results.
Read MoreAMP – Macquarie rates the stock as Neutral
AMP pre-reported so the focus of the 2018 results was on the composition of earnings and what the business might look like going forward.
Read MoreBLD – UBS rates the stock as Neutral
Following a series of downgrades the past twelve months, the broker’s confidence in Boral’s guidance has waned, leading to forecast cuts. Boral derives 50% of its earnings from housing and both US and Australian housing are in decline, Australia notably, and non-residential building carries downside risk if sentiment continues to deteriorate.
Read MoreASX – Citi rates the stock as Sell
And yet again the ASX delivered a better-than-expected interim performance, but Citi analysts still cannot get past its valuation. Estimates have been lifted by 2%-3% and take some comfort from guidance towards further lower costs.
Read MoreBRG – Macquarie rates the stock as Neutral
Breville’s result was in line with the broker. Management expects FY earnings growth to be slightly higher than current market consensus of 11%, leading the broker to upgrade to 12.1%.
Read MoreTLS – Credit Suisse rates the stock as Neutral
First-half earnings were broadly in line with Credit Suisse estimates. Despite the better-than-expected mobile numbers, management has indicated the market remains highly competitive.
Read MoreTAH – UBS rates the stock as Buy
Tabcorp’s result missed the broker at the headline but the detail within the numbers was positive.
Read More
