##{"id":100022,"date":"2022-03-07T10:24:44","date_gmt":"2022-03-06T23:24:44","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2022\/03\/07\/australian-broker-call-extra-edition-mar-07-2022\/"},"modified":"2022-03-07T10:28:10","modified_gmt":"2022-03-06T23:28:10","slug":"australian-broker-call-extra-edition-mar-07-2022","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/03\/07\/australian-broker-call-extra-edition-mar-07-2022\/","title":{"rendered":"Australian Broker Call *Extra* Edition – Mar 07, 2022"},"content":{"rendered":"

An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed equities.<\/strong><\/p>\n

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.<\/p>\n

One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.<\/p>\n

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.<\/p>\n

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.<\/p>\n

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.<\/p>\n

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.<\/p>\n

COMPANIES DISCUSSED IN THIS ISSUE<\/strong><\/p>\n

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)<\/p>\n

ASG<\/a> BRI<\/a> CHN<\/a> CUP<\/a> CXO<\/a> DSK<\/a> GDA<\/a> ING<\/a> LDX<\/a> MDR<\/a> OPY<\/a> RED<\/a> RZI<\/a> SES<\/a> UBN<\/a> YOJ<\/a> <\/p>\n

ASG<\/a>    AUTOSPORTS GROUP LIMITED<\/h2>\n
Automobiles & Components – Overnight Price: $1.93 <\/strong><\/p>\n
Jarden rates ((ASG)) as Buy (2) –<\/p>\n
Persisting strong demand continues to benefit Autosports Group with first half revenue growth of 1% to $910.8m driven by a $44.1m contribution from acquisitions as noted by Jarden, but a 100% order bank increase since February 2021 is seen as testament to demand.<\/p>\n
Segmentally, Service and Parts were up 8.9% and 12.8% respectively on the previous comparable period despite a challenging backdrop of covid restrictions. The company expects revenue from both segments to maintain 6-9% growth through the year.<\/p>\n
The Overweight rating is retained and the target price decreases to $3.18 from $3.19.<\/p>\n
This report was published on March 2, 2022.<\/p>\n
Target price is $3.18<\/strong> Current Price is $1.93 <\/strong> Difference: $1.25<\/strong>
If ASG<\/strong> meets the Jarden target it will return approximately 65%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 14.80<\/strong> cents and EPS of 24.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 7.67%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.85<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 14.30<\/strong> cents and EPS of 23.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 7.41%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.11<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
BRI<\/a>    BIG RIVER INDUSTRIES LIMITED<\/h2>\n
Building Products & Services – Overnight Price: $2.32 <\/strong><\/p>\n
CCZ Equities rates ((BRI)) as No Rating (-1) –<\/p>\n
Building materials distribution and manufacturing business Big River Industries delivered a stunning 1H result, according to CCZ Equities. There was considered to be volume, price and margin outperformance.<\/p>\n
Management guided to a 2H FY22 pro forma sales run rate similar to the 1H, and underlying earnings (EBITDA) slightly below the 1H as the strong 1H gross profit percentage softens on cycling higher cost inventory.<\/p>\n
As a result, the broker upgrades FY22-FY23 revenue and earnings forecasts by around 10% and and 30%, respectively.<\/p>\n
No target price or rating is alluded to in the latest research update.<\/p>\n
This report was published on March 7, 2022.<\/p>\n
Current Price is $2.32<\/strong>. Target price not assessed.
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
CCZ Equities forecasts a full year FY22<\/strong> dividend of 11.10<\/strong> cents and EPS of 21.13<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.78%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.98<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
CCZ Equities forecasts a full year FY23<\/strong> dividend of 13.80<\/strong> cents and EPS of 23.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.95%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.09<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CHN<\/a>    CHALICE MINING LIMITED<\/h2>\n
Industrial Metals – Overnight Price: $7.52 <\/strong><\/p>\n
Bell Potter rates ((CHN)) as Buy (1) –<\/p>\n
Chalice Mining's drilling at the Gonneville deposit has discovered high grade sulphide mineralisation intersection from up to 400m below the limit of the existing pit sell, and the company has extended high grade zones to the south-west and north-west. <\/p>\n
Bell Potter says early drilling at "globally significant" platinum, nickel and copper resource Julimar has also proved positive, and that Chalice Mining expects access to higher priority targets will be granted in coming weeks.<\/p>\n
What the ESG ramifications are for drilling in a state forest is not made clear.<\/p>\n
The next resource update is due in May 22. Bell Potter retains a Speculative Buy rating. Target price eases to $12.02 from $12.08.<\/p>\n
This report was published on March 4, 2022.<\/p>\n
Target price is $12.02<\/strong> Current Price is $7.52 <\/strong> Difference: $4.5<\/strong>
If CHN<\/strong> meets the Bell Potter target it will return approximately 60%<\/strong> (excluding dividends, fees and charges).<\/p>\n
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CUP<\/a>    COUNTPLUS LIMITED<\/h2>\n
Commercial Services & Supplies – Overnight Price: $0.76 <\/strong><\/p>\n
Wilsons rates ((CUP)) as Market Weight (3) –<\/p>\n
Wilsons notes there appeared early signs of improvement for CountPlus in the first half, although the company's reported earnings of $5.7m, up 30.5% year-on-year, marked a -7.0% miss on the broker's forecast. <\/p>\n
Looking ahead, the broker is cautious of the new CEO's strategy. Earnings forecasts decrease -4.9% and -10.6% in FY22 and FY23.<\/p>\n
The Market Weight rating and target price of $0.79 are retained.<\/p>\n
This report was published on March 4, 2022.<\/p>\n
Target price is $0.79<\/strong> Current Price is $0.76 <\/strong> Difference: $0.03<\/strong>
If CUP<\/strong> meets the Wilsons target it will return approximately 4%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 2.90<\/strong> cents and EPS of 4.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.82%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.51<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY23<\/strong> dividend of 3.60<\/strong> cents and EPS of 6.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.74%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.67<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CXO<\/a>    CORE LITHIUM LIMITED<\/h2>\n
New Battery Elements – Overnight Price: $0.95 <\/strong><\/p>\n
Canaccord Genuity rates ((CXO)) as Buy (1) –<\/p>\n
Core Lithium has entered a binding spodumene concentrate offtake agreement wth Tesla to supply 110kt from the Finniss Lithium project over four years, referenced to the market price and subject to a floor and ceiling.<\/p>\n
Tesla has also agreed to support the company's Stage 3 expansion into chemical processing (finalisation is pending).<\/p>\n
Cannacord Genuity says all of Core Lithium's Stage 1 production is now covered by offtake and that the company could yet double production if additional resources are determined, and says deep drilling offers confidence in this respect.<\/p>\n
The broker expects the rush for assets will intensify over coming years as nations seek to secure their supply chains but believes it will be too late by then to secure offtakes and that direct investment will be the only option in order to avoid shortages in lithium, nickel, cobalt, graphite and manganese.<\/p>\n
Speculative Buy rating retained. Target price rises to $1 from 70c.<\/p>\n
This report was published on March 2, 2022.<\/p>\n
Target price is $1.00<\/strong> Current Price is $0.95 <\/strong> Difference: $0.05<\/strong>
If CXO<\/strong> meets the Canaccord Genuity target it will return approximately 5%<\/strong> (excluding dividends, fees and charges).<\/p>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
DSK<\/a>    DUSK GROUP LIMITED<\/h2>\n
Household & Personal Products – Overnight Price: $2.55 <\/strong><\/p>\n
Shaw and Partners rates ((DSK)) as Buy (1) –<\/p>\n
Dusk has announced the $28m Eroma acquisition has been terminated, and Shaw and Partners removes the acquisition from its forecasts and also cuts underlying earnings estimates by -30% in FY23 and FY24 to account for covid and the probability of impending interest-rate rises. <\/p>\n
The company gave no reason for the termination. The broker notes Dusk's balance sheet remains solid and inventories are healthy, and says the company is cashed up for another potential acquisition.<\/p>\n
Buy rating retained. Target price falls to $3.00 from $3.20.<\/p>\n
This report was published on March 7, 2022.<\/p>\n
Target price is $3.00<\/strong> Current Price is $2.55 <\/strong> Difference: $0.45<\/strong>
If DSK<\/strong> meets the Shaw and Partners target it will return approximately 18%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 13.00<\/strong> cents and EPS of 26.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.10%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.62<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 18.00<\/strong> cents and EPS of 27.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 7.06%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.21<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
GDA<\/a>    GOOD DRINKS AUSTRALIA LIMITED<\/h2>\n
Food, Beverages & Tobacco – Overnight Price: $0.74 <\/strong><\/p>\n
Taylor Collison rates ((GDA)) as Outperform & Accumulate (2) –<\/p>\n
Good Drinks Australia lifted sales volume 26% in the first half, a strong result on the back of a tough comparable period in FY21 according to Taylor Collison. Full year targets were reiterated. <\/p>\n
While headwinds including cost inflation, supply chain issues exacerbated by weather events, and potential impacts of omicron's arrival in WA, persist, a right-sized sales and marketing team and efficient brewing capacity positions the company to withstand pressures, the broker suggests.<\/p>\n
The Outperform rating is retained and the target price decreases to $1.02 from $1.06.<\/p>\n
This report was published on March 3, 2022.<\/p>\n
Target price is $1.02<\/strong> Current Price is $0.74 <\/strong> Difference: $0.28<\/strong>
If GDA<\/strong> meets the Taylor Collison target it will return approximately 38%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Taylor Collison forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 2.70<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.41<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Taylor Collison forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 3.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.97<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
ING<\/a>    INGHAMS GROUP LIMITED<\/h2>\n
Food, Beverages & Tobacco – Overnight Price: $3.16 <\/strong><\/p>\n
Goldman Sachs rates ((ING)) as Downgrade to Sell from Neutral (5) –<\/p>\n
Goldman Sachs lowers its target price for Inghams Group to $3.25 from $3.45 due to the the medium-term earnings risk posed by feed costs. The rating also is decreased to Sell from Neutral on limited upside to the new target.<\/p>\n
Recently, grain prices have continued to trend higher driven by the Russia\/Ukraine situation and the analyst expects the trend to continue over 2022.<\/p>\n
In addition, there has been high covid-related absenteeism across processing and all parts of the supply chain on the South Eastern seaboard, explains the analyst. Now, there's a risk this situation repeats in NZ and WA on reopening.<\/p>\n
This report was published on March 7, 2022.<\/p>\n
Target price is $3.25<\/strong> Current Price is $3.16 <\/strong> Difference: $0.09<\/strong>
If ING<\/strong> meets the Goldman Sachs target it will return approximately 3%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $3.65<\/strong>, suggesting upside of 15.4%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Goldman Sachs forecasts a full year FY22<\/strong> EPS of 11.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.73<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 16.4<\/strong>, implying annual growth of -26.9%<\/strong>.
Current consensus DPS estimate is 11.6<\/strong>, implying a prospective dividend yield of 3.7%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.3<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Goldman Sachs forecasts a full year FY23<\/strong> EPS of 21.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.05<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 25.3<\/strong>, implying annual growth of 54.3%<\/strong>.
Current consensus DPS estimate is 17.3<\/strong>, implying a prospective dividend yield of 5.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 12.5<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.4<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
LDX<\/a>    LUMOS DIAGNOSTICS HOLDINGS LIMITED<\/h2>\n
Medical Equipment & Devices – Overnight Price: $0.49 <\/strong><\/p>\n
Wilsons rates ((LDX)) as Downgrade to Market Weight from Overweight (3) –<\/p>\n
Lumos Diagnostics Holdings' first half result disappointed Wilsons, with both Services and FebriDx revenue declining. The company continues to seek approval for an FDA CLIA-waiver status for FebriDx, essential to US outpatient setting success according to the broker. <\/p>\n
Sales in markets where the treatment is approved were low over the half. Wilsons notes sales traction and appropriate approvals are required for a better outlook on the company.<\/p>\n
The rating is downgraded to Market Weight from Overweight and the target price decreases to $0.50 from $1.52.<\/p>\n
This report was published on March 7, 2022.<\/p>\n
Target price is $0.50<\/strong> Current Price is $0.49 <\/strong> Difference: $0.01<\/strong>
If LDX<\/strong> meets the Wilsons target it will return approximately 2%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 12.30<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.98<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 12.10<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.05<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
MDR<\/a>    MEDADVISOR LIMITED<\/h2>\n
Healthcare services – Overnight Price: $0.31 <\/strong><\/p>\n
Moelis rates ((MDR)) as Buy (1) –<\/p>\n
MedAdvisor's December- first-half result broadly met Moelis's forecasts given pre-released cash flow results.<\/p>\n
Management reaffirmed guidance and advised its pharmacy software will be launched in 350 Green Cross pharmacies in NZ, starting in the June quarter, providing access to about 600,000 patients that use Green Cross's SMS script reminder services for MedAdvisor's health programs business. <\/p>\n
Moelis says access to Walmart patient data is expected imminently, which will allow the company to run digital programs with more than 40m patients.<\/p>\n
The broker says the balance sheet should support the final Adheris payment and upgraded revenue forecasts to reflect the Green Cross deal but expects capital expenditure will reduce profits and cuts EPS forecasts accordingly.<\/p>\n
Buy rating retained. Target price eases -2c to 57c form 59c.<\/p>\n
This report was published on March 5, 2022.<\/p>\n
Target price is $0.57<\/strong> Current Price is $0.31 <\/strong> Difference: $0.26<\/strong>
If MDR<\/strong> meets the Moelis target it will return approximately 84%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 2.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.92<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.80<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.22<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
OPY<\/a>    OPENPAY GROUP LIMITED<\/h2>\n
Business & Consumer Credit – Overnight Price: $0.36 <\/strong><\/p>\n
Canaccord Genuity rates ((OPY)) as Downgrade to Hold from Speculative Buy (3) –<\/p>\n
A focus on US market opportunities has seen Openpay reassess its UK operations. Canaccord Genuity notes the company will scale back resources in the region and service the UK from Australia, while the UK Payment Assist acquisition will not go ahead.<\/p>\n
Total transaction value for the first half was up 34% on the previous comparable period, with Australia New Zealand up 54%, but the broker's full year forecast decreases -36% given the removal of the Payment Assist acquisition.<\/p>\n
The OpyPay product is enabled in 43 US states, but the US strategy will likely require further funding to achieve breakeven, the broker suggests.<\/p>\n
The rating is downgraded to Hold from Speculative Buy and the target price decreases to $0.35 from $2.80. <\/p>\n
This report was published on March 7, 2022.<\/p>\n
Target price is $0.35<\/strong> Current Price is $0.36 <\/strong> Difference: minus $0.01<\/strong> (current price is over target).
If OPY<\/strong> meets the Canaccord Genuity target it will return approximately minus 3%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 46.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.78<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 17.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.12<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
RED<\/a>    RED 5 LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $0.32 <\/strong><\/p>\n
Canaccord Genuity rates ((RED)) as Speculative Buy (1) –<\/p>\n
Red 5's December first-half result fell well shy of Cannacord Genuity's forecasts, the company's loss outpacing by nearly 50% due to higher-than-expected depreciation. Outside of that, all was in line, says the broker.<\/p>\n
Cannacord Genuity notes gold production at Red 5's KOTH is fast approaching and appears on time and on budget, despite challenging circumstances.<\/p>\n
The broker says the project is being de-risked on several fronts and that after the initial delivery period, the company should be exposed to spot gold prices for almost six months. Expansion potential could also be realised in the medium term.<\/p>\n
Target price rises to 44c from 40c. Speculative Buy rating retained.<\/p>\n
This report was published on March 3, 2022.<\/p>\n
Target price is $0.44<\/strong> Current Price is $0.32 <\/strong> Difference: $0.12<\/strong>
If RED<\/strong> meets the Canaccord Genuity target it will return approximately 38%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 32.00<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 3.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.67<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.5<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
RZI<\/a>    RAIZ INVEST LIMITED<\/h2>\n
Wealth Management & Investments – Overnight Price: $1.21 <\/strong><\/p>\n
Taylor Collison rates ((RZI)) as Speculative Buy (1) –<\/p>\n
Raiz Invest reported first half revenue of $9.7m, largely in line with Taylor Collison's expectations.The Raiz investment platform saw 84.6% revenue growth on the previous comparable period to $8.7m on both active user growth and average revenue per user growth. <\/p>\n
The broker anticipates further growth in the second half with the company undertaking an advertising campaign with Seven West Media ((SWM)). Marketing growth was up 74.1% in the first quarter, and will continue to ramp up as the Seven West Media campaign takes off. <\/p>\n
The Speculative Buy rating is retained. <\/p>\n
This report was published on March 1, 2022.<\/p>\n
Current Price is $1.21<\/strong>. Target price not assessed.
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Taylor Collison forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 7.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 15.32<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Taylor Collison forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 5.10<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 23.73<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
SES<\/a>    SECOS GROUP LIMITED<\/h2>\n
Paper & Packaging – Overnight Price: $0.26 <\/strong><\/p>\n
Canaccord Genuity rates ((SES)) as Buy (1) –<\/p>\n
SECOS Group has struck a new distribution deal with US-based United Natural Foods Inc, one of the country's largest wholesalers of natural, organic and specialty products, to supply MyEcoPet products to US retailers.<\/p>\n
Cannacord Genuity says no revenue guidance is expected as it will depend on take-up from retailers and consumers and that the first order is small.<\/p>\n
While believing it is too early to determine materiality, the broker likes the sound of the deal and the opportunity, especially given the product has proved popular with consumers in Australia.<\/p>\n
Buy rating retained. Target price rises to 40c from 37c.<\/p>\n
This report was published on March 2, 2022.<\/p>\n
Target price is $0.40<\/strong> Current Price is $0.26 <\/strong> Difference: $0.14<\/strong>
If SES<\/strong> meets the Canaccord Genuity target it will return approximately 54%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
UBN<\/a>    URBANISE.COM LIMITED<\/h2>\n
Software & Services – Overnight Price: $0.65 <\/strong><\/p>\n
Taylor Collison rates ((UBN)) as Speculative Buy (1) –<\/p>\n
Termination payments made to the outgoing CEO and select sales staff saw Urbanise.com deliver a net loss of -$3.7m in the first half. Taylor Collison notes revenue of $6.37 was lower than anticipated, and expenses higher given increased labour costs.<\/p>\n
More positively, customer retention remained strong at 96.4% for the period. The broker notes the best-in-class product has potential to drive the company to become the dominant player in strata software in Australia and the UAE. <\/p>\n
The broker expects a cash flow breakeven is likely in the next 12-18 months as the company focuses on an identified $2.5m in cash burn improvements. <\/p>\n
The Speculative Buy rating is retained. <\/p>\n
This report was published on February 24, 2022.<\/p>\n
Current Price is $0.65<\/strong>. Target price not assessed.
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Taylor Collison forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 9.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.57<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Taylor Collison forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 4.30<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 15.12<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
YOJ<\/a>    YOJEE LIMITED<\/h2>\n
Software & Services – Overnight Price: $0.13 <\/strong><\/p>\n
CCZ Equities rates ((YOJ)) as No Rating (-1) –<\/p>\n
CCZ Equities determines from in-line 1H results for Singapore-based logistics company Yojee that signs are emerging of traction with key clients in Europe, in addition to the APAC region.<\/p>\n
For the 2H, management anticipates increased trade volumes, warehouse commercialisation and a rising demand for ESG reporting to drive revenue momentum.<\/p>\n
The analyst sees upside risk for valuation beyond achieving a 126-hub rollout target, as the broker's forecasts don't factor in any additional enterprise clients or warehouse internet of things revenue.<\/p>\n
No rating is applied and the valuation range of $0.40 to $0.50 remains.<\/p>\n
This report was published on February 28, 2022.<\/p>\n
Target price is $0.45<\/strong> Current Price is $0.13 <\/strong> Difference: $0.32<\/strong>
If YOJ<\/strong> meets the CCZ Equities target it will return approximately 246%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
CCZ Equities forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 0.65<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 20.00<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
CCZ Equities forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 0.34<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 38.24<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
\n
Disclaimer:<\/strong>
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.<\/p>\n
As part of emerging new trends overseas, The Australian Broker Call Extra Edition also includes providers of sponsored research. Readers should bear in mind, sponsored research, while not necessarily of lower quality, has the embedded complication that the company that is the subject of the research has paid for this research. Providers of sponsored research that can potentially be included in this Report are Breakaway Research, Edison Investment Research, Independent Investment Research, NDF Research, Pitt Street Research, and TMT Analytics.<\/span><\/span><\/span><\/p>\n
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
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