UBS incorporates a 10% share buyback into forecasts, after assuming no major increases in debt levels due to any significant near-term acquisitions. The Buy rating is unchanged. The target price is increased to $US241 from US$210.
Read MoreFertiliser prices are strengthening and even with a weaker USD, have created a stronger near-term outlook for Incitec Pivot, suggests Credit Suisse. Target rises to $2.73 from $2.70.
Read MoreDespite a second quarter result ahead of estimates, Morgans lowers South32’s rating to Hold from Add, due to a recent share price rally. The broker reduces the target price to $2.60 from $2.65.
Read MoreSSR Mining’s guidance for 2021 proved in-line with UBS’s forecasts, but costs are expected to be higher and more investments are on the agenda (some $100m more). New price target of $28 compares with $30 previously. Buy rating retained.
Read MoreMorgans describes the overall second quarter operational result as consistent. The analyst highlights the strength of iron ore spot prices is supplying a substantial earnings tailwind and an impressive dividend profile. Target price is $40.55.
Read MoreAnsell will report its first-half results on 16 February and expects to deliver organic growth above 20%, higher than Credit Suisse’s previous forecast of 14%. Outperform retained. Target is raised to $45.50 from $45.
Read MoreMorgans expects a strong result, forecasting around 16% earnings (EBIT) growth and believes a strong first half outcome could make FY21 guidance look conservative. The Add rating and $29.18 target are unchanged.
Read MoreAnsell released a trading update with higher growth guidance for the full financial year. UBS analysts, in response, have increased forecasts by 4% for FY21. Target price is $39.60. Neutral rating retained.
Read MoreMarking to markets for December quarter commodity prices causes Credit Suisse to lift its FY21 earnings 3%. All major catalysts except for commodity prices remain unchanged and the broker retains its $40 target. Outperform.
Read MoreRio Tinto finished 2020 in line with its guidance and ahead of UBS’s estimates with total iron ore shipments at 330.6mt. A final dividend of US$3.70 per share is forecast. The Neutral rating and target price of $115 are unchanged.
Read MoreHub24’s second-quarter funds under administration (FuA) at $22bn were up 16% on a quarterly basis and 3% ahead of Credit Suisse’s forecast. Rating is upgraded to Outperform from Neutral with the target price rising to $26 from $21.50.
Read MoreBingo Industries has received a takeover offer from CPE Capital. Morgans lifts the target price to $3.50 to align with the indicative offer price. The Hold rating is maintained.
Read MoreMorgans notes Home Consortium had an active end to 2020 after spinning off the HomeCo Daily Needs REIT ((HDN)), new acquisitions and a capital raising. The Add rating is unchanged and the target price increased to $4.27 from $3.60.
Read MoreCS believes Bingo Industries has the potential to generate $231m in operating income by FY23 and based on the FY23 forecast, the fundamental value of the stock could be over $4 per share. Rating is upgraded to Outperform from Neutral with the target rising to $3 from $2.40.
Read MoreCiti analysts point out the 2020/21 winter crop is set to beat expectations. The broker sees plenty of justification for its above-consensus forecasts, which are supporting the Buy rating and $13 price target.
Read MoreSuper Retail Group noted a net profit rise of 137% in the first half with sales revenue increasing by 23%. Credit Suisse has more confidence than the market in the company’s FY22 earnings prospects. Target price is $13.19.
Read MoreMorgans updates the Insurance/Diversified Financials sector earnings on a mark-to-market basis and a broad review of earnings assumptions, and believes Challenger is one of the best positioned of the large cap stocks to produce solid/stable results. Target price is $6.80.
Read MoreMacquarie has marked to market December quarter commodity prices and foreign exchange rates and remains positive on copper exposure going into 2021. for Rio Tinto, the major driver for the diversified miner remains buoyant iron ore prices. The Outperform rating and target of $127 are unchanged.
Read MoreEnergy analysts at Citi have increased price expectations for cude oil and LNG. The 2021 Brent oil price forecast moved to US$59/bbl from US$52/bbl. The team sees oil peaking at US$61/bbl in 1Q22. The new price target for Santos is $7.58. Rating has been downgraded to Neutral from Buy.
Read MorePendal Group’s December quarter was mixed, observes Morgan Stanley, with better than expected funds under management (mainly driven by investment performance) offset by lower than anticipated total quarter flows. Overweight rating retained with a target of $7.30.
Read MoreBacked by lower crude premiums, Ampol’s Lytton refinery saw its December quarter operating loss go down to -$4m, a far cry from the -$82m loss seen in the third quarter. Outperform retained with a target price of $34.65.
Read MoreUBS highlights Pro Medicus’s radiology pipeline conversion over 6 years is significantly above UBS’s estimate and suggests continuing momentum into the second half. Neutral rating is reaffirmed with a target of $32.
Read MoreMorgans suggest now is an opportune time to invest in the oil and gas sector after gaining further conviction both oil and LNG markets have moved off their lows. The Add rating and target price of $0.43 are unchanged for Cooper Energy.
Read MoreMacquarie’s Commodities Strategy team has upgraded its short term nickel price forecasts by 7-8%, medium-term by 10-13% and long-term by 3%. WSA’s rating remains Outperform with a price target of $3.30, up from $2.80.
Read MorePremier Investments’ first half guidance of 75-85% retail earnings (EBIT) growth was well ahead of Citi’s expectations and was driven by gross margin expansion and operating leverage. Citi maintains a Neutral rating and lifts the target price to $25 from $20.60.
Read MoreIn the wake of a first half trading update from Universal Store Holdings, Morgans makes 12-20% EPS upgrades across the forecast years and raises the price target to $6.93 from $6.05.
Read MoreMorgans has pulled back its rating for Novonix to Hold from Speculative Buy. The target price has remained unchanged at $1.33.
Read MoreEarnings estimates have been reduced and the analysts conclude their initiation of coverage with an Outperform rating and $42 price target has proved to be “a half too early”.
Read MoreMacquarie finds the immediate outlook for ARB remains positive, carried by a strong orderbook, but also believes visibility into FY22 is rather low. Neutral rating retained. Price target improves to $33.50.
Read MoreNow it has transpired that reinsurance renewal fees will be less of a burden than feared in 2021, Morgan Stanley analysts suggest investor attention can now focus on the quality of earnings. Target price is $11.50.
Read MoreCredit Suisse found the ASX’s December trading activity update (slightly) weaker-than-projected, and therefore the current share price is considered too expensive. Target price is $71.00.
Read MoreMacquarie has updated its thoughts and modeling for QBE Insurance Group. Macquarie analysts do not expect FY21 guidance and forecast only a 4c dividend in 2H20. The broker cuts its price target to $7.70 from $8 on further reduction in forecasts.
Read MoreMorgan Stanley has upgraded its price target for Charter Hall, to $16.88 from $13.10, on anticipation of stronger funds inflows as investors are increasingly appreciating the unique characteristics on offer.
Read MoreAnalysts at Morgans have updated their modeling and assumptions for SYD. They remain confident a sustained recovery lays ahead on the back of vaccine roll-outs internationally. Add rating retained. Target price is $6.95.
Read MoreStockbroker Morgans has initiated coverage of Antisense Therapeutics with a Speculative Buy rating and a maiden price target of 37.7c.
Read MoreCiti does not believe AusNet will be able to grow dividends faster than inflation for years to come and thus prefers APA Group ((APA)) instead. Target price is $1.81.
Read MoreOutperform rating retained for Steadfast Group as the broker concludes premium rate increases continue to support the investment
case. Target price is $4.30.
Citi analysts remain of the view that the optimum strategy for the AMP board to release value for shareholders is through spinning off some of the divisions. Neutral/High risk rating remains in place while the price target has improved to $1.60 from $1.55.
Read MoreFollowing the ASX’s second quarter update, Macquarie analysts have updated their modelling ahead of the upcoming half-yearly report, scheduled for release in February. Target price is $70.50.Current Price is $71.84.
Read MoreThe company’s latest trading update has revealed the order book remains at record levels and Citi analysts point out this bodes well for 2H21. Target price is $11.65. Current Price is $10.84.
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