##{"id":100816,"date":"2022-04-08T11:16:39","date_gmt":"2022-04-08T01:16:39","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=100816"},"modified":"2022-04-08T11:16:40","modified_gmt":"2022-04-08T01:16:40","slug":"australian-broker-call-extra-edition-apr-08-2022","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/04\/08\/australian-broker-call-extra-edition-apr-08-2022\/","title":{"rendered":"Australian Broker Call *Extra* Edition – Apr 08, 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

ADH<\/a> AKE<\/a> ALL<\/a> ALU<\/a> BGA<\/a> EBR<\/a> EVN<\/a> GT1<\/a> IAG<\/a> IGO<\/a> MIN<\/a> NST<\/a> OZL<\/a> PNR<\/a> PNV (2)<\/a> PPT (2)<\/a> QUB<\/a> TPW<\/a> TUL<\/a> <\/p>\n

ADH<\/a>    ADAIRS LIMITED<\/h2>\n
Furniture & Renovation – Overnight Price: $2.86 <\/strong><\/p>\n
Jarden rates ((ADH)) as Buy (1) –<\/p>\n
Jarden has met several listed and unlisted Australian furniture and homeware retailers and emerges with the following observations: supply chain challenges will persist during 2022; high freight costs and inventories will continue to pressure margins; views diverge on e-penetration; and furniture and homewares demand is holding up.<\/p>\n
The broker says Adairs inventory build should protect it from supply disruption; growing e-penetration should provide a solid tailwind (Australia lags the world); the company's sticky Linen Lovers should protect sales growth and provide a good hedge and a floor as growth returns to physical stores; and that a strong recovery in physical sales could deliver surprise upside (as would an improvement in supply chains).<\/p>\n
Inflation remains a risk but Adairs' inventory build-up should help here. Buy rating retained. Target price is $4.74. This compares with the last Jarden entry in the FNArena database in November of $5.13.<\/p>\n
This report was published on April 2, 2022.<\/p>\n
Target price is $4.74<\/strong> Current Price is $2.86 <\/strong> Difference: $1.88<\/strong>
If ADH<\/strong> meets the Jarden target it will return approximately 66%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.00<\/strong>, suggesting upside of 39.9%<\/strong>(ex-dividends)<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 30.4<\/strong>, implying annual growth of -19.4%<\/strong>.
Current consensus DPS estimate is 18.0<\/strong>, implying a prospective dividend yield of 6.3%<\/strong>.
Current consensus EPS estimate suggests the PER is 9.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 37.4<\/strong>, implying annual growth of 23.0%<\/strong>.
Current consensus DPS estimate is 23.3<\/strong>, implying a prospective dividend yield of 8.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 7.6<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.7<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
AKE<\/a>    ALLKEM LIMITED<\/h2>\n
New Battery Elements – Overnight Price: $12.81 <\/strong><\/p>\n
Bell Potter rates ((AKE)) as Buy (1) –<\/p>\n
Allkem looks to cement itself as a global top three lithium producer, aiming to maintain 10% market share as lithium demand grows. Bell Potter anticipates demand to grow from a current 500,000 tonnes per annum to more than 1.1m tonnes by 2025, and over 3.2m tonnes annually by 2030. <\/p>\n
In order to capitalise on demand, Allkem is looking to rapidly expand its production capacity to almost triple output by 2026, and the broker notes the company has the a number of advanced stage projects to achieve capacity growth. <\/p>\n
The Buy rating and target price of $18.05 are retained.<\/p>\n
This report was published on April 6, 2022.<\/p>\n
Target price is $18.05<\/strong> Current Price is $12.81 <\/strong> Difference: $5.24<\/strong>
If AKE<\/strong> meets the Bell Potter target it will return approximately 41%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 40.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.32<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 15.00<\/strong> cents and EPS of 111.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.17%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.49<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.9<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
ALL<\/a>    ARISTOCRAT LEISURE LIMITED<\/h2>\n
Gaming – Overnight Price: $33.41 <\/strong><\/p>\n
Jarden rates ((ALL)) as Overweight (2) –<\/p>\n
Tailwinds in digital entertainment, and particularly online gaming, of the last few years look to be moderating and Jarden has reduced its revenue forecasts for Aristocrat Leisure as a result. <\/p>\n
While difficult to determine, Aristocrat Leisure's RAID game appeared to benefit from tailwinds but Jarden analysts note momentum for the title is slowing. More positively, social casino games remain strong and Aristocrat Leisure's games appear to be taking market share.<\/p>\n
The Overweight rating is retained and the target price decreases to $41.55 from $41.75. <\/p>\n
This report was published on April 7, 2022.<\/p>\n
Target price is $41.55<\/strong> Current Price is $33.41 <\/strong> Difference: $8.14<\/strong>
If ALL<\/strong> meets the Jarden target it will return approximately 24%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $47.10<\/strong>, suggesting upside of 41.0%<\/strong>(ex-dividends)
The company's fiscal year ends in September.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> EPS of 154.30<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.65<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 151.1<\/strong>, implying annual growth of 17.9%<\/strong>.
Current consensus DPS estimate is 59.5<\/strong>, implying a prospective dividend yield of 1.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 22.1<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> EPS of 165.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.19<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 175.8<\/strong>, implying annual growth of 16.3%<\/strong>.
Current consensus DPS estimate is 72.0<\/strong>, implying a prospective dividend yield of 2.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.0<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.9<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
ALU<\/a>    ALTIUM<\/h2>\n
Hardware & Equipment – Overnight Price: $33.38 <\/strong><\/p>\n
Bell Potter rates ((ALU)) as Buy (1) –<\/p>\n
Bell Potter has highlighted two recent events – the Russia-Ukraine conflict and the Cadence Design Systems-Daussault Systemes partnership announcement – that it expects will not materially impact on Altium.<\/p>\n
The broker detailed revenue from Russia makes up only a 1-2% total revenue contribution and Kyiv-based staff have been relocated to Katowice, while the Cadence-Daussault partnership focuses on the high-end enterprise market that Altium does not compete in. <\/p>\n
The broker does not consider either event to be a headwind to Altium.<\/p>\n
The Buy rating is retained and the target price increases to $41.25 from $38.75.<\/p>\n
This report was published on April 6, 2022.<\/p>\n
Target price is $41.25<\/strong> Current Price is $33.38 <\/strong> Difference: $7.87<\/strong>
If ALU<\/strong> meets the Bell Potter target it will return approximately 24%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 58.16<\/strong> cents and EPS of 49.10<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.74%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 67.98<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 63.57<\/strong> cents and EPS of 62.63<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.90%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 53.30<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
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
BGA<\/a>    BEGA CHEESE LIMITED<\/h2>\n
Dairy – Overnight Price: $4.95 <\/strong><\/p>\n
Bell Potter rates ((BGA)) as Buy (1) –<\/p>\n
Bell Potter continues to forecast full year earnings below Bega Cheese's guidance of $195-215m, anticipating elevated costs in the third quarter related to omicrom. The broker expects impacts to largely mask benefits and synergies from the Lion Dairy acquisition. <\/p>\n
On the production side, returns for Bega Cheese's largest ingredient exposure, skim milk powder, increased 36% year-on-year in March, while protein and butterfat pricing have continued to increase in recent months <\/p>\n
The Buy rating and target price of $5.90 are retained.<\/p>\n
This report was published on April 6, 2022.<\/p>\n
Target price is $5.90<\/strong> Current Price is $4.95 <\/strong> Difference: $0.95<\/strong>
If BGA<\/strong> meets the Bell Potter target it will return approximately 19%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $5.28<\/strong>, suggesting upside of 6.6%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 11.00<\/strong> cents and EPS of 14.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.22%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.22<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 18.7<\/strong>, implying annual growth of -31.6%<\/strong>.
Current consensus DPS estimate is 11.0<\/strong>, implying a prospective dividend yield of 2.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 26.5<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 16.50<\/strong> cents and EPS of 24.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.33%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.88<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 25.1<\/strong>, implying annual growth of 34.2%<\/strong>.
Current consensus DPS estimate is 12.0<\/strong>, implying a prospective dividend yield of 2.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.7<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
EBR<\/a>    EBR SYSTEMS, INC<\/h2>\n
Medical Equipment & Devices – Overnight Price: $0.59 <\/strong><\/p>\n
Wilsons rates ((EBR)) as Overweight (1) –<\/p>\n
Abott's Aveir VR device has become the third leadless pacemaker to receive FDA approval, and improves the opportunity for EBR Systems' WiSE device. Wilsons notes the leadless pacemaker market creates a US$400m total addressable market for the WiSE device.<\/p>\n
The WiSE device treats a subset of leadless pacemaker patients who develop a need for leadless biventricular pacing. While no patient, to Wilsons' knowledge, has yet undertaken an Aveir and WiSE co-implementation this will likely change now Aveir is commercially available.<\/p>\n
The Overweight rating and target price of $1.50 are retained.<\/p>\n
This report was published on April 7, 2022.<\/p>\n
Target price is $1.50<\/strong> Current Price is $0.59 <\/strong> Difference: $0.91<\/strong>
If EBR<\/strong> meets the Wilsons target it will return approximately 154%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/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 15.89<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.71<\/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 18.18<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.25<\/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
EVN<\/a>    EVOLUTION MINING LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $4.23 <\/strong><\/p>\n
JP Morgan rates ((EVN)) as Overweight (1) –<\/p>\n
Following rising metal prices due to the Russia\/Ukraine conflict, JP Morgan increases its 2023 price forecast for copper by 8% to US$4.61\/lb, while the long term price rises by 6% to US$3.50\/lb. The long term gold price forecast remains at US$1,600\/oz.<\/p>\n
The broker lifts its target price for Evolution Mining to $4.90 from $4.60 and retains its Overweight rating.<\/p>\n
This report was published on April 7, 2022.<\/p>\n
Target price is $4.90<\/strong> Current Price is $4.23 <\/strong> Difference: $0.67<\/strong>
If EVN<\/strong> meets the JP Morgan target it will return approximately 16%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.39<\/strong>, suggesting upside of 3.8%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY22<\/strong> dividend of 6.00<\/strong> cents and EPS of 25.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.42%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.92<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 20.8<\/strong>, implying annual growth of 2.9%<\/strong>.
Current consensus DPS estimate is 6.9<\/strong>, implying a prospective dividend yield of 1.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 20.3<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY23<\/strong> dividend of 14.00<\/strong> cents and EPS of 46.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.31%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.20<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 27.1<\/strong>, implying annual growth of 30.3%<\/strong>.
Current consensus DPS estimate is 6.4<\/strong>, implying a prospective dividend yield of 1.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 15.6<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: -0.2<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
GT1<\/a>    GREEN TECHNOLOGY METALS LIMITED<\/h2>\n
New Battery Elements – Overnight Price: $1.00 <\/strong><\/p>\n
Bell Potter rates ((GT1)) as Initiation of coverage with Buy (1) –<\/p>\n
Bell Potter initiates coverage on Green Technology Metals with a Speculative Buy rating and $1.39 target price. <\/p>\n
The broker points the company's lithium resource and tenement package in Ontario Canada and its potential to develop downstream lithium processing capacity using Canada's established renewable energy supply; its proximity to the North American battery minerals markets.<\/p>\n
These decarbonisation themes are enhanced by the social theme, with strong First Nations engagement, says Bell Potter, making the stock an attractive ESG play.<\/p>\n
Bell Potter says Green Technology Metals enjoys a highly strategic position in the fast evolving battery minerals supply chain with an existing lithium resource. At December 31, the company held cash of $19.3m and not debt and the prospectus indicated an annual exploration budget roughly in the low to mid $6m region and the broker factors in a $15m capital raise within the next 12 months.<\/p>\n
This report was published on April 2, 2022.<\/p>\n
Target price is $1.39<\/strong> Current Price is $1.00 <\/strong> Difference: $0.39<\/strong>
If GT1<\/strong> meets the Bell Potter target it will return approximately 39%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 3.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 28.57<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 4.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 22.73<\/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
IAG<\/a>    INSURANCE AUSTRALIA GROUP LIMITED<\/h2>\n
Insurance – Overnight Price: $4.27 <\/strong><\/p>\n
Jarden rates ((IAG)) as Buy (1) –<\/p>\n
Insurance Australia Group should not be materially impacted by any fall-out from the Tokio Marine-Greensill legal battle given it carries no net insurance exposure to Greensill, according to Jarden. <\/p>\n
Japanese insurer Tokio Marine claims Greensill took out insurance policies fraudulently, written by IAG's previously 50%-owned The Bond and Credit Co, alleging Greensil misrepresented matters material to the underwriting of policies.<\/p>\n
The broker notes company commentary suggests Tokio Marine will contest the validity of insurance contracts, while financial risk for IAG appears well-contained for now.<\/p>\n
The Buy rating and target price of $5.40 are retained.<\/p>\n
This report was published on April 5, 2022.<\/p>\n
Target price is $5.40<\/strong> Current Price is $4.27 <\/strong> Difference: $1.13<\/strong>
If IAG<\/strong> meets the Jarden target it will return approximately 26%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.96<\/strong>, suggesting upside of 16.2%<\/strong>(ex-dividends)
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 16.00<\/strong> cents and EPS of 20.30<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.75%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.03<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 19.6<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 17.6<\/strong>, implying a prospective dividend yield of 4.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 21.8<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 27.00<\/strong> cents and EPS of 31.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.32%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.47<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 28.8<\/strong>, implying annual growth of 46.9%<\/strong>.
Current consensus DPS estimate is 24.6<\/strong>, implying a prospective dividend yield of 5.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 14.8<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.3<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
IGO<\/a>    IGO LIMITED<\/h2>\n
Nickel – Overnight Price: $13.91 <\/strong><\/p>\n
JP Morgan rates ((IGO)) as Overweight (1) –<\/p>\n
JP Morgan is very positive on the lithium outlook and doubles its prior 2023 price forecast for spodumene to US$5,000\/t, while hydroxide and carbonate estimates have lifted 50% and 60%, respectively. Meanwhile, the long term forecast rises by 18%.<\/p>\n
Following rising metal prices due to the Russia\/Ukraine conflict, the broker also increases its 2023 price forecast for copper by 8% to US$4.61\/lb, while the long term price rises by 6% to US$3.50\/lb. The FY23 nickel price forecast also rises by over 50%.<\/p>\n
JP Morgan lifts its price target for IGO to $17.40 from $12.50 and maintains its Overweight rating.<\/p>\n
This report was published on April 7, 2022.<\/p>\n
Target price is $17.40<\/strong> Current Price is $13.91 <\/strong> Difference: $3.49<\/strong>
If IGO<\/strong> meets the JP Morgan target it will return approximately 25%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $13.55<\/strong>, suggesting downside of -2.6%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY22<\/strong> dividend of 19.00<\/strong> cents and EPS of 56.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.37%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.84<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 49.6<\/strong>, implying annual growth of 105.4%<\/strong>.
Current consensus DPS estimate is 15.5<\/strong>, implying a prospective dividend yield of 1.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 28.0<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY23<\/strong> dividend of 87.00<\/strong> cents and EPS of 249.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.25%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.59<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 176.1<\/strong>, implying annual growth of 255.0%<\/strong>.
Current consensus DPS estimate is 80.9<\/strong>, implying a prospective dividend yield of 5.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 7.9<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.3<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
MIN<\/a>    MINERAL RESOURCES LIMITED<\/h2>\n
Iron Ore – Overnight Price: $60.01 <\/strong><\/p>\n
Bell Potter rates ((MIN)) as Buy (1) –<\/p>\n
Mineral Resources plans to double spodumene processing capacity at Mt Marion, the restart of processing Train 1 is ahead of schedule with Train 2 scheduled to restart in July, and the MARBL Lithium joint venture with Albemarle continues.<\/p>\n
Bell Potter upgrades forecasts for lithium production across Mineral Resources' portfolio and sharply raises lithium price forecasts.<\/p>\n
The broker appreciates the company's portfolio of assets and spies several "outstanding" catalysts to provide new flows through the year, including the renegotiation of the MARBL joint venture; increased downstream lithium processing capacity; and iron-ore progress in the Pilbara.<\/p>\n
EPS forecasts jump 56% in FY22; 109% in FY23; and 88% in FY24. <\/p>\n
Buy rating retained. Target price jumps to $74.35 from $61.35.<\/p>\n
This report was published on April 6, 2022.<\/p>\n
Target price is $74.35<\/strong> Current Price is $60.01 <\/strong> Difference: $14.34<\/strong>
If MIN<\/strong> meets the Bell Potter target it will return approximately 24%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $63.09<\/strong>, suggesting upside of 5.1%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 40.90<\/strong> cents and EPS of 218.20<\/strong> cents.
At the last closing share price the estimated dividend yield is 0.68%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.50<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 225.7<\/strong>, implying annual growth of -66.5%<\/strong>.
Current consensus DPS estimate is 86.6<\/strong>, implying a prospective dividend yield of 1.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 26.6<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 99.30<\/strong> cents and EPS of 517.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.65%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.59<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 815.7<\/strong>, implying annual growth of 261.4%<\/strong>.
Current consensus DPS estimate is 297.1<\/strong>, implying a prospective dividend yield of 5.0%<\/strong>.
Current consensus EPS estimate suggests the PER is 7.4<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.8<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
NST<\/a>    NORTHERN STAR RESOURCES LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $10.15 <\/strong><\/p>\n
JP Morgan rates ((NST)) as Overweight (1) –<\/p>\n
Following rising metal prices due to the Russia\/Ukraine conflict, JP Morgan increases its 2023 price forecast for copper by 8% to US$4.61\/lb, while the long term price rises by 6% to US$3.50\/lb. The long term gold price forecast remains at US$1,600\/oz.<\/p>\n
The broker lifts its target price for Northern Star Resources to $11.50 from $11.00 and retains its Overweight rating.<\/p>\n
This report was published on April 7, 2022.<\/p>\n
Target price is $11.50<\/strong> Current Price is $10.15 <\/strong> Difference: $1.35<\/strong>
If NST<\/strong> meets the JP Morgan target it will return approximately 13%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $12.42<\/strong>, suggesting upside of 22.3%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY22<\/strong> dividend of 25.00<\/strong> cents and EPS of 36.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.46%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.19<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 30.7<\/strong>, implying annual growth of -73.2%<\/strong>.
Current consensus DPS estimate is 24.0<\/strong>, implying a prospective dividend yield of 2.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 33.1<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY23<\/strong> dividend of 35.00<\/strong> cents and EPS of 68.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.45%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.93<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 37.5<\/strong>, implying annual growth of 22.1%<\/strong>.
Current consensus DPS estimate is 28.1<\/strong>, implying a prospective dividend yield of 2.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 27.1<\/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
OZL<\/a>    OZ MINERALS LIMITED<\/h2>\n
Copper – Overnight Price: $25.52 <\/strong><\/p>\n
JP Morgan rates ((OZL)) as Neutral (3) –<\/p>\n
Following rising metal prices due to the Russia\/Ukraine conflict, JP Morgan increases its 2023 price forecast for copper by 8% to US$4.61\/lb, while the long term price rises by 6% to US$3.50\/lb.The long term gold price forecast remains at US$1,600\/oz.<\/p>\n
The broker notes OZ Minerals is the only large-cap pure copper play listed in Australia, and increases its price target to 25 from $24. The Neutral rating is maintained on valuation grounds.<\/p>\n
This report was published on April 7, 2022.<\/p>\n
Target price is $25.00<\/strong> Current Price is $25.52 <\/strong> Difference: minus $0.52<\/strong> (current price is over target).
If OZL<\/strong> meets the JP Morgan target it will return approximately minus 2%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $25.28<\/strong>, suggesting downside of -0.9%<\/strong>(ex-dividends)
The company's fiscal year ends in December.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY22<\/strong> dividend of 49.00<\/strong> cents and EPS of 166.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.92%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.37<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 161.7<\/strong>, implying annual growth of 1.3%<\/strong>.
Current consensus DPS estimate is 25.8<\/strong>, implying a prospective dividend yield of 1.0%<\/strong>.
Current consensus EPS estimate suggests the PER is 15.8<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY23<\/strong> dividend of 52.00<\/strong> cents and EPS of 174.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.04%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.67<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 126.2<\/strong>, implying annual growth of -22.0%<\/strong>.
Current consensus DPS estimate is 26.3<\/strong>, implying a prospective dividend yield of 1.0%<\/strong>.
Current consensus EPS estimate suggests the PER is 20.2<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: -0.1<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
PNR<\/a>    PANTORO LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $0.30 <\/strong><\/p>\n
Bell Potter rates ((PNR)) as Upgrade to Buy from Hold (1) –<\/p>\n
Bell Potter upgrades Pantoro to Buy from Hold and cuts the target price to 34c from 36c.<\/p>\n
Pantoro and joint-venture partner Tulla Resources ((TUL)) in the Norseman Gold Project have published an updated mineral resource and ore reserve for the Scotia deposit, increasing the mineral resource and ore reserve for the Scotia Mining Centre.<\/p>\n
Bell Potter says the update delivers a 50% increase in contained gold compared with the October 2020 reserve and indicates a potential mine life of roughly nine years. <\/p>\n
Forecast gains are more than offset by higher forecast sustaining costs, which results in cuts to earnings forecasts of -2% in in FY23 and -3% in FY24.<\/p>\n
This report was published on April 6, 2022.<\/p>\n
Target price is $0.36<\/strong> Current Price is $0.30 <\/strong> Difference: $0.06<\/strong>
If PNR<\/strong> meets the Bell Potter target it will return approximately 20%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.33<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 2.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.00<\/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
PNV<\/a>    POLYNOVO LIMITED<\/h2>\n
Pharmaceuticals & Biotech\/Lifesciences – Overnight Price: $1.13 <\/strong><\/p>\n
Bell Potter rates ((PNV)) as Re-initiation of coverage with a Buy rating (1) –<\/p>\n
Bell Potter resumes coverage of PolyNovo with a Buy recommendation and a $1.50 target price, as coverage transfers to a new analyst.<\/p>\n
This compares with Bell Potter's last entry in the FNArena database in September of a Hold rating and $2.19 target price.<\/p>\n
PolyNovo's March sales accelerated sharply in the March quarter, improving the cash position, and trials continue apace.<\/p>\n
The net cash position increased by $517,000 to $3.8m in the quarter and the company posted record quarterly sales in the US.<\/p>\n
This report was published on April 6, 2022.<\/p>\n
Target price is $1.50<\/strong> Current Price is $1.13 <\/strong> Difference: $0.37<\/strong>
If PNV<\/strong> meets the Bell Potter target it will return approximately 33%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 565.00<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 125.56<\/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
\n
Wilsons rates ((PNV)) as Market Weight (3) –<\/p>\n
PolyNovo has delivered a solid 15% beat to Wilsons' forecast in the third quarter, and generated revenue growth of 59% on the previous comparable period to total $12.3m for a third quarter sales record for the company.<\/p>\n
Geographically, US sales remained strong, up 79% on the previous comparable period, while recovery was demonstrated in both Australia New Zealand, up 82%, and the UK Ireland markets, up 55%, following a weaker first half. <\/p>\n
The company also reiterated clinical trials are progressing for NovoSorb, with first patients recruited for the diabetic foot ulcer trial.<\/p>\n
The Market Weight rating and target price of $1.11 are retained.<\/p>\n
This report was published on April 7, 2022.<\/p>\n
Target price is $1.11<\/strong> Current Price is $1.13 <\/strong> Difference: minus $0.02<\/strong> (current price is over target).
If PNV<\/strong> meets the Wilsons target it will return approximately minus 2%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).<\/p>\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
PPT<\/a>    PERPETUAL LIMITED<\/h2>\n
Wealth Management & Investments – Overnight Price: $32.61 <\/strong><\/p>\n
Bell Potter rates ((PPT)) as Buy (1) –<\/p>\n
According to Bell Potter, Perpetual's bid for Pendal Group ((PDL)) is effectively a merger proposal. The bid relies on a scheme arrangement where Pendal Group shareholders would receive one Perpetual share for every 7.5 shares as well as $1.67 per share.<\/p>\n
Bell Potter considers the merger should make strategic sense and could be in the best interest of shareholders, and also noted Pendal Group's share price and negotiating position have improved following the offer. <\/p>\n
The Buy rating and target price of $42.80 are retained.<\/p>\n
This report was published on April 6, 2022.<\/p>\n
Target price is $42.80<\/strong> Current Price is $32.61 <\/strong> Difference: $10.19<\/strong>
If PPT<\/strong> meets the Bell Potter target it will return approximately 31%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $39.61<\/strong>, suggesting upside of 21.5%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 218.00<\/strong> cents and EPS of 266.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.69%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.24<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 263.8<\/strong>, implying annual growth of 95.4%<\/strong>.
Current consensus DPS estimate is 213.2<\/strong>, implying a prospective dividend yield of 6.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 12.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 225.00<\/strong> cents and EPS of 273.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.90%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.91<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 287.6<\/strong>, implying annual growth of 9.0%<\/strong>.
Current consensus DPS estimate is 225.7<\/strong>, implying a prospective dividend yield of 6.9%<\/strong>.
Current consensus EPS estimate suggests the PER is 11.3<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.6<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
\n
Jarden rates ((PPT)) as Underweight (4) –<\/p>\n
Perpetual has made a takeover bid for Pendal Group ((PDL)) at an indicative value of $6.23 per share. Jarden notes Pendal Group has underperformed Perpetual by -35% in the last six months, offering Perpetual an opportunity to take advantage of share price weakness.<\/p>\n
The broker notes the acquisition could be 20% accretive to Perpetual's twelve-month earnings per share, or 37% accretive including an anticipated $50m in cost synergies. Jarden also notes a deal would offer greater diversification benefits.<\/p>\n
The Underweight rating and target price of $30.25 are retained.<\/p>\n
This report was published on April 4, 2022.<\/p>\n
Target price is $30.25<\/strong> Current Price is $32.61 <\/strong> Difference: minus $2.36<\/strong> (current price is over target).
If PPT<\/strong> meets the Jarden target it will return approximately minus 7%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $39.61<\/strong>, suggesting upside of 21.5%<\/strong>(ex-dividends)
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 202.10<\/strong> cents and EPS of 243.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.20%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.39<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 263.8<\/strong>, implying annual growth of 95.4%<\/strong>.
Current consensus DPS estimate is 213.2<\/strong>, implying a prospective dividend yield of 6.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 12.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 194.90<\/strong> cents and EPS of 227.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.98%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.33<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 287.6<\/strong>, implying annual growth of 9.0%<\/strong>.
Current consensus DPS estimate is 225.7<\/strong>, implying a prospective dividend yield of 6.9%<\/strong>.
Current consensus EPS estimate suggests the PER is 11.3<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.6<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
QUB<\/a>    QUBE HOLDINGS LIMITED<\/h2>\n
Transportation & Logistics – Overnight Price: $2.97 <\/strong><\/p>\n
JP Morgan rates ((QUB)) as Overweight (1) –<\/p>\n
JP Morgan reiterates is Overweight rating and $3.80 target price for Qube Holdings despite ongoing supply chain pressures at Australian ports, which may still take some time to unwind. Nonetheless, container volumes were considered to rebound strongly in February.<\/p>\n
The analyst feels the company will ultimately benefit from increased consumer demand and strength in bulk commodities. Also, despite a planned off-market buyback, there's estimated to be capacity for acquisitions.<\/p>\n
This report was published on April 7, 2022.<\/p>\n
Target price is $3.80<\/strong> Current Price is $2.97 <\/strong> Difference: $0.83<\/strong>
If QUB<\/strong> meets the JP Morgan target it will return approximately 28%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $3.32<\/strong>, suggesting upside of 11.8%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY22<\/strong> dividend of 6.00<\/strong> cents and EPS of 10.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.02%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.70<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 9.6<\/strong>, implying annual growth of 98.8%<\/strong>.
Current consensus DPS estimate is 6.2<\/strong>, implying a prospective dividend yield of 2.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 30.9<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY23<\/strong> dividend of 7.00<\/strong> cents and EPS of 11.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.36%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.00<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 11.2<\/strong>, implying annual growth of 16.7%<\/strong>.
Current consensus DPS estimate is 7.0<\/strong>, implying a prospective dividend yield of 2.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 26.5<\/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
TPW<\/a>    TEMPLE & WEBSTER GROUP LIMITED<\/h2>\n
Furniture & Renovation – Overnight Price: $6.26 <\/strong><\/p>\n
Jarden rates ((TPW)) as Overweight (2) –<\/p>\n
Jarden has met several listed and unlisted Australian furniture and homeware retailers and emerges with the following observations: supply chain challenges will persist during 2022; high freight costs and inventories will continue to pressure margins; views diverge on e-penetration; and furniture and homewares demand is holding up.<\/p>\n
The broker says Temple & Webster's emerging categories growth and third-party inventory model should mitigate the risk of a slowdown in the B2C furniture and homewares markets and reduce supply chain pressures.<\/p>\n
Inflation remains a risk. Overweight rating retained. Target price is $15.09. This compares with the last Jarden entry in the FNArena database in November of $15.81.<\/p>\n
This report was published on April 2, 2022.<\/p>\n
Target price is $15.09<\/strong> Current Price is $6.26 <\/strong> Difference: $8.83<\/strong>
If TPW<\/strong> meets the Jarden target it will return approximately 141%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $12.26<\/strong>, suggesting upside of 95.8%<\/strong>(ex-dividends)
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 0.00<\/strong> cents.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 6.6<\/strong>, implying annual growth of -43.1%<\/strong>.
Current consensus DPS estimate is N\/A<\/strong>, implying a prospective dividend yield of N\/A<\/strong>.
Current consensus EPS estimate suggests the PER is 94.8<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 8.8<\/strong>, implying annual growth of 33.3%<\/strong>.
Current consensus DPS estimate is N\/A<\/strong>, implying a prospective dividend yield of N\/A<\/strong>.
Current consensus EPS estimate suggests the PER is 71.1<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.8<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
TUL<\/a>    TULLA RESOURCES PLC<\/h2>\n
Gold & Silver – Overnight Price: $0.60 <\/strong><\/p>\n
Bell Potter rates ((TUL)) as Buy (1) –<\/p>\n
Tulla Resources and its joint-venture partner Pantoro ((PNR)) in the Norseman Gold Project have published an updated mineral resource and ore reserve for the Scotia deposit, increasing the mineral resource and ore reserve for the Scotia Mining Centre.<\/p>\n
Bell Potter says the update delivers a 50% increase in contained gold compared with the October 2020 reserve and indicates a potential mine life of roughly nine years. <\/p>\n
Bell Potter expects first gold production in the September quarter. EPS forecasts rise 23% in FY23 and 10% in FY24 on lower depreciation and amortisation charges. <\/p>\n
Target price rises to $1.15 from $1.06. Speculative Buy rating retained.<\/p>\n
This report was published on April 6, 2022.<\/p>\n
Target price is $1.15<\/strong> Current Price is $0.60 <\/strong> Difference: $0.55<\/strong>
If TUL<\/strong> meets the Bell Potter target it will return approximately 92%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 0.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 120.00<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 6.30<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.52<\/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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