Australian Broker Call

Citi rates ABB as Buy (1) -

Citi sees Aussie Broadband's strong positioning in high-speed broadband plans as a key growth driver, with over 50% of customers on 100Mbps or faster plans.

The company has solidified its position as the third-largest provider in this segment, assess the analysts, gaining market share despite disruptions from Origin Energy ((ORG)) offboarding and Buddy Telco’s launch.

The broker expects ABB to benefit from potential industry catalysts, including NBN’s wholesale price adjustment in June and acceleration of high-speed tiers in September, which could drive further subscriber and ARPU growth. 

Citi raises its forecasts, increasing FY26 and FY27 earnings (EBITDA) by 5% and 13%, respectively, driven by margin improvements and ARPU uplift. The broker retains a Buy rating and lifts its target price to $4.80 from $4.60.

Target price is $4.80 Current Price is $3.85 Difference: $0.95
If ABB meets the Citi target it will return approximately 25% (excluding dividends, fees and charges).

Current consensus price target is $4.57, suggesting upside of 17.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates ASB as Neutral (3) -

Citi views Austal's equity raising as reasonable in the context of the shares doubling over the last six months, even though management highlighted at the 1H25 results that the -US$300m capex would be debt-funded.

The raising places the company's balance sheet in a stronger position, although the broker notes it was conducted at a -16% discount to the last closing price. Reduced leverage allows Austal to be more flexible as new programs ramp up.

Citi maintains a near-term cautious tone on the stock due to execution risks and the potential for the founder’s 4.9% stake to be sold down at some stage, following recent sales.

The analyst lowers EPS forecasts by -1% for FY25 to -13% for FY27. Citi has a Neutral rating on Austal, with the target price slipping -5% to $4.09.

Target price is $4.09 Current Price is $3.90 Difference: $0.19
If ASB meets the Citi target it will return approximately 5% (excluding dividends, fees and charges).

Current consensus price target is $4.43, suggesting upside of 16.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Bell Potter rates BOE as Buy (1) -

Bell Potter reckons Boss Energy's 9% additional stake in Laramide Resources ((LAM)) might not look like a bad investment if the ban on uranium mining in Queensland is overturned.

The broker notes the company's acquisition is to gain an interest in Laramide's Westmoreland Uranium project. No change to forecasts or target price of $4.80, and Buy maintained.

The broker continues to forecast a strong 3Q25 for the company's Honeymoon project.

Target price is $4.80 Current Price is $2.31 Difference: $2.49
If BOE meets the Bell Potter target it will return approximately 108% (excluding dividends, fees and charges).

Current consensus price target is $3.98, suggesting upside of 67.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates BRE as Buy (1) -

Ord Minnett has reviewed Ukraine's rare earth oxide (REO) deposits in light of a sell-off in REO explorers in recent months, possibly on expectations of more supply from the Trump-Ukraine deal.

The broker's assessment is the deposits in Ukraine will be uneconomic to develop given their low grades and American miners would be better off focusing on superior assets in other global locations.

Target price for Brazilian Rare Earths of $5.50 and the Speculative Buy rating are unchanged.

Target price is $5.50 Current Price is $1.73 Difference: $3.77
If BRE meets the Ord Minnett target it will return approximately 218% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY24:

Forecast for FY25:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgan Stanley rates BSL as Equal-weight (3) -

Morgan Stanley spoke to a US-based steel trader who expects the current steel price of US$950/s to stabilise in May before sliding lower in June and possibly dropping below US$850/st in August/September.

New capacity, more supply and not enough demand are cited as key reasons.

Interestingly, the trader believes weak Asian flat steel prices mean even after a 25% tariff, the price of imported steel will be lower than the current price, which could result in higher imports.

No change to the broker's Equal-weight rating on BlueScope Steel and $24 target price.

Target price is $24.00 Current Price is $22.58 Difference: $1.42
If BSL meets the Morgan Stanley target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $27.44, suggesting upside of 19.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Bell Potter rates DOC as Speculative Buy (1) -

Doctor Care Anywhere's FY24 revenue fell short of expectations due to a decline in 2H, prompting Bell Potter to lower its forecast for FY25.

The downgrade (at considerable delay) is mainly on account of an uncertain outlook for volume growth, but the broker regards it as conservative given price growth expectations.

The broker is more optimistic about the outlook over 2-5 years, seeing the recent appointment of industry specialist Laure O'Riordan as a catalyst for acceleration of business beyond AXA PHI.

No change to the 12c target price. Speculative Buy remains.

Target price is $0.12 Current Price is $0.07 Difference: $0.048
If DOC meets the Bell Potter target it will return approximately 67% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

This company reports in GBP. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates EVN as Neutral (3) -

Citi remains bullish on gold and sees further upside for gold equities.

The broker sees potential for Evolution Mining to keep outperforming Northern Star Resources given higher exposure to spot gold (less hedging) and the premium attached to Evolution's copper exposure.

The capital required to sustain production at Northern Star, such as bringing online new ore sources, is being understated by consensus, the broker suggests, adding many peers are yet to allow for the equity dilution from acquiring De Grey Mining ((DEG)).

The broker maintains a Neutral rating and $6 target for Evolution Mining.

Target price is $6.00 Current Price is $6.76 Difference: minus $0.76 (current price is over target).
If EVN meets the Citi target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $5.96, suggesting downside of -11.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: -0.1

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates FBU as Buy (1) -

Relevant to Fletcher Building, Citi highlights improving housing indicators in New Zealand and expectations of quicker monetary policy transmission.

The broker also notes Auckland housing completions have outpaced consents for over a year but have now fallen, suggesting a shift in activity towards new consents.

Key risks include macroeconomic uncertainty, construction cycle strength, and execution issues, though the broker sees potential upside from new leadership at Fletcher Building and regulatory support.

The Buy rating and NZ$3.90 target are unchanged.

Current Price is $2.93. Target price not assessed.

Current consensus price target is $3.04, suggesting upside of 1.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Bell Potter rates LTR as Speculative Buy (1) -

Bell Potter notes Liontown Resources' 1H25 underlying EBIT was in line with its estimate and the highlight was the company declaring commercial production at Kathleen Valley effective January 1.

This means all operating costs, including plant depreciation will be accounted for in the P&L statement.

The broker made those adjustments to forecasts and factored in 1H25 result, resulting in a cut in EPS forecasts for FY25 and FY26 but a lift to FY27.

Target price lowered to $1.25 from $1.40. Speculative Buy retained.

Target price is $1.25 Current Price is $0.65 Difference: $0.605
If LTR meets the Bell Potter target it will return approximately 94% (excluding dividends, fees and charges).

Current consensus price target is $0.76, suggesting upside of 9.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates LTR as Neutral (3) -

Citi highlights Liontown Resources' high leverage to lithium prices and the ongoing operational ramp-up at Kathleen Valley.

An update on the capital allocation framework revealed Liontown ended the half with $193m in cash (consensus had forecast $100m), with outflows of -$253m primarily related to Kathleen Valley development, explains the broker.

Operationally, the processing plant declared commercial production on 1 January, highlight the analysts, while underground development costs will continue to be capitalised until underground production begins this calendar year.

Management maintains its 2H25 guidance and expects commercial production on the Ford offtake contract in July. 

No change to 60c target price.

Target price is $0.60 Current Price is $0.65 Difference: minus $0.045 (current price is over target).
If LTR meets the Citi target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $0.76, suggesting upside of 9.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates LTR as Hold (3) -

Morgans notes Liontown Resources' 1H25 result was broadly in line. The company declared commercial production at Kathleen Valley effective January 1 which led to all costs before that being capitalised and resulted in a beat at the underlying EBITDA level.

Net debt rose sharply to $651m due to US$250m of convertible notes issuance in 1H and was largely the reason for a downgrade in target price to 66c from 68c.

Hold rating remains.

Target price is $0.66 Current Price is $0.65 Difference: $0.015
If LTR meets the Morgans target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $0.76, suggesting upside of 9.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates LTR as Hold (3) -

Ord Minnett notes Liontown Resources' 1H25 result was in line with expectations, with commercial production at Kathleen Valley effective January 1 resulting in a capitalisation of all costs and was responsible for underlying EBITDA missing forecasts.

The broker notes the company's cash position will decline by -$50m in 2H from $193m at the end of December. The broker expects another -$100m cash will be required to meet higher unit operating costs in FY26.

Target price drops marginally to 67c from 68c. Hold maintained.

Target price is $0.67 Current Price is $0.65 Difference: $0.025
If LTR meets the Ord Minnett target it will return approximately 4% (excluding dividends, fees and charges).

Current consensus price target is $0.76, suggesting upside of 9.4% (ex-dividends)

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates LYC as Buy (1) -

Ord Minnett has reviewed Ukraine's rare earth oxide (REO) deposits in the light of a sell-off in REO explorers in recent months, possibly on expectations of more supply from the Trump-Ukraine deal.

The broker's assessment is the deposits in Ukraine will be uneconomic to develop given their low grades and American miners would be better off focusing on superior assets in other global locations.

Target price for Lynas Rare Earths is unchanged at $7.80 and Buy rating remains.

Target price is $7.80 Current Price is $7.38 Difference: $0.42
If LYC meets the Ord Minnett target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $6.88, suggesting downside of -9.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates MIN as Upgrade to Buy from Sell (1) -

UBS incorporates the latest assumptions on haul road repairs, Mineral Resources' FY25 guidance downgrades for Onslow shipments and mining services tonnes, as well as grade discounts and a lower average cost of capital, lowering its target price to $28.60 from $33.

Concerns remain, but the analyst lifts EPS estimates by 6% for FY26 and 45% for FY27.

The stock has declined -67%, and at current levels, with the revised earnings estimates, the rating is upgraded to Buy from Sell.

UBS estimates the stock is pricing in an iron ore price of US$80/t and spodumene pricing of US$1,300/t indefinitely which is considered too pessimistic.

Target price is $28.60 Current Price is $21.95 Difference: $6.65
If MIN meets the UBS target it will return approximately 30% (excluding dividends, fees and charges).

Current consensus price target is $35.01, suggesting upside of 43.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.6

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Shaw and Partners rates MMI as Buy (1) -

Shaw and Partners views Metro Mining's latest operational and market update as positive.

The broker highlights that operations are restarting early following the wet season shutdown, and FOB pricing has risen 25% post-2Q price negotiations, in line with estimates.

Shaw reiterates its 17c target and Buy, High Risk rating. The stock remains one of the broker's top picks for 2025.

Target price is $0.17 Current Price is $0.06 Difference: $0.11
If MMI meets the Shaw and Partners target it will return approximately 183% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates NST as Neutral (3) -

Citi remains bullish on gold and sees further upside for gold equities.

The broker sees potential for Evolution Mining to keep outperforming Northern Star Resources given higher exposure to spot gold (less hedging) and the premium attached to Evolution's copper exposure.

The capital required to sustain production at Northern Star, such as bringing online new ore sources, is being understated by consensus, Citi states, with many peers yet to allow for the equity dilution from acquiring De Grey Mining ((DEG)).

The broker maintains a Neutral rating and $18 target for Northern Star Resources.

Target price is $18.00 Current Price is $17.87 Difference: $0.13
If NST meets the Citi target it will return approximately 1% (excluding dividends, fees and charges).

Current consensus price target is $19.34, suggesting upside of 8.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates NTU as Speculative Buy (1) -

Ord Minnett has pushed back the forecast for the construction start of Northern Minerals ' Wolverine project to 2Q2026 and production to 2Q2028 due to a delay in the feasibility study.

There are also issues around funding with no clarity on the $15m convertible note from Iluka Resources ((ILU)) which was due on 31 December 2024.

The broker notes a report in The Australian newspaper suggesting continued Chinese holding in the company may be a barrier to receiving funding from the Northern Australia Infrastructure Fund. 

Target price of 3c and Speculative Buy.

Target price is $0.03 Current Price is $0.02 Difference: $0.011
If NTU meets the Ord Minnett target it will return approximately 58% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Shaw and Partners rates NXG as Buy (1) -

NexGen Energy announced the Canadian Nuclear Safety Commission (CNSC) has proposed Commission hearing dates for the Rook project on November 19, 2025, and February 9-13, 2026.

Shaw and Partners previously expected a hearing in 1H 2025 and, factoring in a three-and-a-half-year construction schedule, now assumes production will be delayed until 2031, making a start before 2030 unlikely.

The broker views the Arrow deposit in the Rook 1 project as an exceptional resource. Buy, High Risk rating maintained. Target price declines to $14.40 from $16.20.

Target price is $14.40 Current Price is $7.63 Difference: $6.77
If NXG meets the Shaw and Partners target it will return approximately 89% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UBS rates ORI as Buy (1) -

UBS believes Orica's new capital management framework, announced at the company's Investor Day, more evenly balances growth investment with shareholder returns.

The broker feels the announced $400 buyback will be well received by the market given the around -$2bn investment in technology and specialty chemical M&A over the last three years.

Following an earlier trading update, the analysts upgrade earnings to reflect a better performance from the core Blasting Solutions business, along with a $15m benefit from carbon credit sales.

UBS sees ongoing price earnings multiple re-rate potential supported by strong operating momentum and current undervaluation.

The target rises to $22 from $21. Buy retained.

Target price is $22.00 Current Price is $17.49 Difference: $4.51
If ORI meets the UBS target it will return approximately 26% (excluding dividends, fees and charges).

Current consensus price target is $21.09, suggesting upside of 19.2% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Bell Potter rates QPM as Speculative Buy (1) -

Bell Potter notes QPM Energy's 1H25 revenue was in line with its forecasts but EBITDA beat due to the accounting treatment of some non-cash items.

The broker reckons the company's quarterly cash flow statement is a better reflection of its performance.

The broker made changes to forecasts to adjust non-cash items, resulting in a significant rise to EBITDA estimates which flowed to EPS forecasts for FY25 and FY26.

Target price of 11c and Speculative Buy rating are unchanged.

Target price is $0.11 Current Price is $0.05 Difference: $0.062
If QPM meets the Bell Potter target it will return approximately 129% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates SMR as Buy (1) -

Citi expects India's increasing steel production and restrictions on metallurgical coke imports to bolster demand for metallurgical coal.

The broker also sees China’s 15% tariff on US coking coal as a catalyst for shifting trade flows towards Australian supply.

With Australian prime hard coking coal priced at US$183/t, near levels that challenge US East Coast producers, the analysts believe supply constraints could drive a price recovery.

The Buy rating and $3.40 target for Stanmore Resources are unchanged.

Target price is $3.40 Current Price is $2.25 Difference: $1.15
If SMR meets the Citi target it will return approximately 51% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates TWE as Buy (1) -

Citi sees the proposed 200% tariff on EU wine imports to the US as a potential positive for Treasury Wine Estates as it may lead to increased demand for non-EU wines, including those produced by Treasury in the Americas.

Less positively, the impact on distributors could be a concern if their financial health deteriorates, and EU wine producers may redirect supply to other markets like China, which could limit some of the upside for Treasury, note the analysts.

Citi retains a Buy rating on Treasury Wine Estates with a target price of $13.85.

Target price is $13.85 Current Price is $9.79 Difference: $4.06
If TWE meets the Citi target it will return approximately 41% (excluding dividends, fees and charges).

Current consensus price target is $12.98, suggesting upside of 28.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates TWE as Buy (1) -

Ord Minnett believes tariffs on EU wines would be positive for Treasury Wine Estates as it could gain market share at the expense of European competitors.

The broker notes the 200% tariff on EU wines would raise their prices by 150% and make American wines competitive. 

In the short term, the broker highlights the company faces challenges in the Americas from distributor changes and potential market disruptions if US-listed Constellation Brands divests its wine business.

Target price of $12 and Buy rating remain.

Target price is $12.00 Current Price is $9.79 Difference: $2.21
If TWE meets the Ord Minnett target it will return approximately 23% (excluding dividends, fees and charges).

Current consensus price target is $12.98, suggesting upside of 28.0% (ex-dividends)

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates VEA as Buy (1) -

Ord Minnett notes there's upside risk for Viva Energy's 1H25 guidance following recovery in industry retail fuel margins since February.

The broker has drawn insights from Ampol ((ALD)), noting it underperformed for three years during its transition phase and rebounded later.

Viva is in a similar position today with cost-out opportunities, and mid-2025 could mark an inflection point once systems are integrated and 40 On the Run petrol stations and convenience stores are rolled out, the broker believes.

Target price of $3.40 and Buy rating are unchanged.

Target price is $3.40 Current Price is $1.73 Difference: $1.675
If VEA meets the Ord Minnett target it will return approximately 97% (excluding dividends, fees and charges).

Current consensus price target is $3.09, suggesting upside of 72.6% (ex-dividends)

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates WBC as Sell (5) -

Citi expects higher funding costs to pressure net interest margins (NIM) for Australian banks, while also constraining credit growth and making it more challenging to meet funding demand.

The analysts feels the market is not placing enough emphasis on underlying monetary tightening as the RBA continues to unwind bond holdings it built up during covid.

Citi remains Sell-rated on the banks with a preference for Westpac and CommBank which have superior deposit franchises.

Target price is $26.25 Current Price is $29.61 Difference: minus $3.36 (current price is over target).
If WBC meets the Citi target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $29.40, suggesting downside of -1.6% (ex-dividends)

The company's fiscal year ends in September.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: -0.5

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates WHC as Buy (1) -

Citi expects India's increasing steel production and restrictions on metallurgical coke imports to bolster demand for metallurgical coal.

The broker also sees China’s 15% tariff on US coking coal as a catalyst for shifting trade flows towards Australian supply.

With Australian prime hard coking coal priced at US$183/t, near levels that challenge US East Coast producers, the analysts believe supply constraints could drive a price recovery.

The Buy rating and $8.60 target for Whitehaven Coal are unchanged.

Target price is $8.60 Current Price is $5.54 Difference: $3.06
If WHC meets the Citi target it will return approximately 55% (excluding dividends, fees and charges).

Current consensus price target is $8.82, suggesting upside of 55.2% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates WTC as Buy (1) -

Citi's key takeaways from the major logistics event, TPM25, including discussions with WiseTech Global's customers and competitors, indicate a solid medium-term outlook for the company.

The industry is increasing digitalisation and higher tech investment spending, with CargoWise's new products focused on addressing industry challenges and inefficiencies, the broker explains.

Citi believes consensus estimates remain too optimistic and sees downside to the market's earnings forecasts as the ramp-up of new products and Container Transport Optimisation takes longer than anticipated.

Buy rated with a $115 target price.

Target price is $115.00 Current Price is $84.98 Difference: $30.02
If WTC meets the Citi target it will return approximately 35% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY25:

Forecast for FY26:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources