##{"id":101057,"date":"2022-04-21T11:09:15","date_gmt":"2022-04-21T01:09:15","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=101057"},"modified":"2022-04-21T11:09:15","modified_gmt":"2022-04-21T01:09:15","slug":"australian-broker-call-extra-edition-apr-21-2022","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/04\/21\/australian-broker-call-extra-edition-apr-21-2022\/","title":{"rendered":"Australian Broker Call *Extra* Edition &#8211; Apr 21, 2022"},"content":{"rendered":"<p><strong>An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed&nbsp;equities.<\/strong><\/p>\n<p>In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena&nbsp;has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed&nbsp;stocks, also enlarging the number of stocks that make up the FNArena&nbsp;universe.<\/p>\n<p>One key difference is the *Extra* Edition will not be updated daily, but merely &quot;regularly&quot; depending on availability&nbsp;of&nbsp;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<p>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&nbsp;may not be up to date, or yet awaiting another update by FNArena&#039;s&nbsp;team of journalists.<\/p>\n<p>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<p>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<p>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<p><strong>COMPANIES DISCUSSED IN THIS ISSUE<\/strong><\/p>\n<p>Click on a symbol for fast access.<br \/>The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)<\/p>\n<p><a href=\"#29M\" style=\"font-weight:bold\">29M<\/a>&nbsp;&nbsp; <a href=\"#AKE\" style=\"font-weight:bold\">AKE<\/a>&nbsp;&nbsp; <a href=\"#BOQ\" style=\"font-weight:bold\">BOQ<\/a>&nbsp;&nbsp; <a href=\"#COE\" style=\"font-weight:bold\">COE<\/a>&nbsp;&nbsp; <a href=\"#ERD\" style=\"font-weight:bold\">ERD<\/a>&nbsp;&nbsp; <a href=\"#IGO\" style=\"font-weight:bold\">IGO&nbsp;(2)<\/a>&nbsp;&nbsp; <a href=\"#IRE\" style=\"font-weight:bold\">IRE<\/a>&nbsp;&nbsp; <a href=\"#JRV\" style=\"font-weight:bold\">JRV<\/a>&nbsp;&nbsp; <a href=\"#MLX\" style=\"font-weight:bold\">MLX<\/a>&nbsp;&nbsp; <a href=\"#NIC\" style=\"font-weight:bold\">NIC<\/a>&nbsp;&nbsp; <a href=\"#NWL\" style=\"font-weight:bold\">NWL<\/a>&nbsp;&nbsp; <a href=\"#OZL\" style=\"font-weight:bold\">OZL<\/a>&nbsp;&nbsp; <a href=\"#PAN\" style=\"font-weight:bold\">PAN<\/a>&nbsp;&nbsp; <a href=\"#RVR\" style=\"font-weight:bold\">RVR<\/a>&nbsp;&nbsp; <a href=\"#SEK\" style=\"font-weight:bold\">SEK<\/a>&nbsp;&nbsp; <a href=\"#SFR\" style=\"font-weight:bold\">SFR<\/a>&nbsp;&nbsp; <a href=\"#TCL\" style=\"font-weight:bold\">TCL<\/a>&nbsp;&nbsp; <a href=\"#TNT\" style=\"font-weight:bold\">TNT<\/a>&nbsp;&nbsp; <a href=\"#UWL\" style=\"font-weight:bold\">UWL<\/a>&nbsp;&nbsp; <a href=\"#WSA\" style=\"font-weight:bold\">WSA<\/a>&nbsp;&nbsp;<\/p>\n<h2><a name=\"29M\">29M<\/a>&nbsp;&nbsp;&nbsp; 29METALS LIMITED<\/h2>\n<p><strong>Copper &#8211; Overnight Price: $3.25 <\/strong><\/p>\n<p>Canaccord Genuity rates ((29M)) as Buy (1) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>The broker&#039;s 2026-29 forecasts for the copper price rise&nbsp;by 20% on average.<\/p>\n<p>The analyst retains the Buy rating for the copper-focused&nbsp;29metals and increases the price target to $3.70 from $3.40.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$3.70<\/strong> Current Price is <strong>$3.25 <\/strong> Difference: <strong>$0.45<\/strong><br \/>If <strong>29M<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 14%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$3.30<\/strong>, suggesting upside of <strong>1.5%<\/strong>(ex-dividends)<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>15.2<\/strong>, implying annual growth of <strong>-68.7%<\/strong>.<br \/>Current consensus DPS estimate is <strong>3.6<\/strong>, implying a prospective dividend yield of <strong>1.1%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>21.4<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>16.3<\/strong>, implying annual growth of <strong>7.2%<\/strong>.<br \/>Current consensus DPS estimate is <strong>5.5<\/strong>, implying a prospective dividend yield of <strong>1.7%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>19.9<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.8<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"AKE\">AKE<\/a>&nbsp;&nbsp;&nbsp; ALLKEM LIMITED<\/h2>\n<p><strong>New Battery Elements &#8211; Overnight Price: $13.26 <\/strong><\/p>\n<p>Bell Potter rates ((AKE)) as Buy (1) &#8211;<\/p>\n<p>Bell Potter assesses Allkem&nbsp;reported solid 3Q production results and notes&nbsp;Mt Cattlin is&nbsp;on-track to meet FY22 guidance. The performance of&nbsp;Olaroz was considered consistent.&nbsp;Stage 2 production for Olaroz&nbsp;comes&nbsp;online later this year.<\/p>\n<p>The broker points out&nbsp;pricing is only now starting to reflect&nbsp;recent lithium market strength, and&nbsp;revenues and cash flow are expected to materially&nbsp;rise in the upcoming quarters.<\/p>\n<p>Via the company&#039;s portfolio of&nbsp;growth projects, management expects to maintain the company&#039;s 10% share of supply in the fast-growing global lithium market.<\/p>\n<p>The Buy rating is maintained. The target falls to $17.50 from $18.05 on increased capital cost estimates, explains&nbsp;Bell Potter.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$17.50<\/strong> Current Price is <strong>$13.26 <\/strong> Difference: <strong>$4.24<\/strong><br \/>If <strong>AKE<\/strong> meets the Bell Potter target it will return approximately <strong> 32%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Bell Potter forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>66.50<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>19.94<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Bell Potter forecasts a full year <strong>FY23<\/strong> dividend of <strong>15.00<\/strong> cents and EPS of <strong>116.30<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>1.13%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>11.40<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.9<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"BOQ\">BOQ<\/a>&nbsp;&nbsp;&nbsp; BANK OF QUEENSLAND LIMITED<\/h2>\n<p><strong>Banks &#8211; Overnight Price: $8.00 <\/strong><\/p>\n<p>Jarden rates ((BOQ)) as Overweight (2) &#8211;<\/p>\n<p>While&nbsp;Bank of Queensland&#039;s first half results were above expectations, with cash profit up 14%&nbsp;year-on-year,&nbsp;Jarden notes the beat was supported by one-off benefits and lower bad debts in the period.<\/p>\n<p>Positively, targeted medium-term synergies from the ME Bank acquisition have been upgraded by $15m to more than $95m in FY24, while the bank looks on track to achieve synergies at the top end of its $30-$34m target range in FY22.<\/p>\n<p>The broker remains cautious on the bank given it has less leverage to a rising cash rate than peers, but notes&nbsp;Bank of Queensland still offers three-year 6% pre-provision operating profit growth at a relatively undemanding valuation.<\/p>\n<p>The Overweight rating is retained and the target price decreases to $9.20 from $9.50.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$9.20<\/strong> Current Price is <strong>$8.00 <\/strong> Difference: <strong>$1.2<\/strong><br \/>If <strong>BOQ<\/strong> meets the Jarden target it will return approximately <strong> 15%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$9.73<\/strong>, suggesting upside of <strong>21.6%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in August.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY22<\/strong> dividend of <strong>45.00<\/strong> cents and EPS of <strong>72.90<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>5.63%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>10.97<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>75.7<\/strong>, implying annual growth of <strong>13.1%<\/strong>.<br \/>Current consensus DPS estimate is <strong>46.5<\/strong>, implying a prospective dividend yield of <strong>5.8%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>10.6<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY23<\/strong> dividend of <strong>46.00<\/strong> cents and EPS of <strong>70.00<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>5.75%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>11.43<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>77.0<\/strong>, implying annual growth of <strong>1.7%<\/strong>.<br \/>Current consensus DPS estimate is <strong>51.8<\/strong>, implying a prospective dividend yield of <strong>6.5%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>10.4<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.7<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"COE\">COE<\/a>&nbsp;&nbsp;&nbsp; COOPER ENERGY LIMITED<\/h2>\n<p><strong>Crude Oil &#8211; Overnight Price: $0.31 <\/strong><\/p>\n<p>Bell Potter rates ((COE)) as Buy (1) &#8211;<\/p>\n<p>Cooper Energy&#039;s March-quarter trading update pleased Bell Potter, production and prices outpacing operational imposts, and management tightened guidance to the top-end of ranges.<\/p>\n<p>The broker notes production rose at Sole and expects it will increase again after upgrades later this year and that the company is renegotiating its debt facility to help fund Otway Basin.<\/p>\n<p>Bell Potter believes overall production should continue to rise, meeting a tightening south-east-coast&nbsp;Australian domestic market.<\/p>\n<p>Buy rating and 38c target price retained.<\/p>\n<p>This report was published on April 20, 2022.<\/p>\n<p>Target price is <strong>$0.38<\/strong> Current Price is <strong>$0.31 <\/strong> Difference: <strong>$0.07<\/strong><br \/>If <strong>COE<\/strong> meets the Bell Potter target it will return approximately <strong> 23%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$0.28<\/strong>, suggesting downside of <strong>-9.0%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Bell Potter forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 0.50<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 62.00<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>-11.1<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>N\/A<\/strong>, implying a prospective dividend yield of <strong>N\/A<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>N\/A<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Bell Potter forecasts a full year <strong>FY23<\/strong> dividend of <strong>0.60<\/strong> cents and EPS of <strong>2.40<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>1.94%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>12.92<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>10.5<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>N\/A<\/strong>, implying a prospective dividend yield of <strong>N\/A<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>3.0<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>-0.2<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"ERD\">ERD<\/a>&nbsp;&nbsp;&nbsp; EROAD LIMITED<\/h2>\n<p><strong>Transportation &amp; Logistics &#8211; Overnight Price: $2.71 <\/strong><\/p>\n<p>Bell Potter rates ((ERD)) as Buy (1) &#8211;<\/p>\n<p>Following a 4Q operations update by hardware-enabled SaaS company EROAD,&nbsp;Bell Potter adjusts its FY22-24 EPS estimates by 0.4%, -6.0% and -7.1%, respectively.<\/p>\n<p>These adjustments follow a small unit beat versus the broker&#039;s forecast&nbsp;and foreign exchange rate movements, along with lower assumptions for medium-term unit growth and average revenue per user (ARPU). The target falls to $5.00 from $5.95.<\/p>\n<p>Net contracted unit growth for the quarter was a miss versus the analyst&#039;s forecast, driven by North America and Australia, though it&#039;s thought unit churn issues may be lessening. The Buy rating is maintained.<\/p>\n<p>While the departure of the founder has caused uncertainty,&nbsp;Bell Potter believes a new CEO will be appointed in the next few months. It&#039;s understood the departure is not related to ongoing operations.<\/p>\n<p>This report was published on April 14, 2022.<\/p>\n<p>Target price is <strong>$5.00<\/strong> Current Price is <strong>$2.71 <\/strong> Difference: <strong>$2.29<\/strong><br \/>If <strong>ERD<\/strong> meets the Bell Potter target it will return approximately <strong> 85%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in March.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Bell Potter forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 2.17<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 125.06<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Bell Potter forecasts a full year <strong>FY23<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>4.15<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>65.38<\/strong>.<\/p>\n<\/blockquote>\n<p>This company reports in <strong>NZD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.<br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"IGO\">IGO<\/a>&nbsp;&nbsp;&nbsp; IGO LIMITED<\/h2>\n<p><strong>Nickel &#8211; Overnight Price: $14.14 <\/strong><\/p>\n<p>Canaccord Genuity rates ((IGO)) as Downgrade to Hold from Buy (3) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>Despite these forecast commodity price upgrades, Canaccord&nbsp;Genuity&nbsp;downgrades its rating for&nbsp;IGO to Hold from&nbsp;Buy after a recent strong performance by the share price.<\/p>\n<p>The broker&#039;s valuation falls by -4% after incorporating a higher bid price for Western Areas ((WSA)). The price target falls to $12.50 from $13.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$12.50<\/strong> Current Price is <strong>$14.14 <\/strong> Difference: <strong>minus $1.64<\/strong> (current price is over target).<br \/>If <strong>IGO<\/strong> meets the Canaccord Genuity target it will return approximately <strong>minus 12%<\/strong> (excluding dividends, fees and charges &#8211; negative figures indicate an expected loss).<br \/>Current consensus price target is <strong>$14.08<\/strong>, suggesting downside of <strong>-0.5%<\/strong>(ex-dividends)<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>56.2<\/strong>, implying annual growth of <strong>132.7%<\/strong>.<br \/>Current consensus DPS estimate is <strong>17.0<\/strong>, implying a prospective dividend yield of <strong>1.2%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>25.2<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>208.9<\/strong>, implying annual growth of <strong>271.7%<\/strong>.<br \/>Current consensus DPS estimate is <strong>97.5<\/strong>, implying a prospective dividend yield of <strong>6.9%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>6.8<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.0<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<hr \/>\n<p>JP Morgan rates ((IGO)) as Overweight (1) &#8211;<\/p>\n<p>After reviewing supply and demand forecasts for the lithium market,&nbsp;JP Morgan&nbsp;continues to see significant near-term cash flow gains and valuation support for lithium miners.<\/p>\n<p>The analyst notes spodumene prices continues to climb, while Chinese&nbsp;spot prices for hydroxide and carbonate are just&nbsp;slightly off the absolute highs.<\/p>\n<p>JP Morgan remains Overweight on IGO and leaves its $17.40 price target unchanged.<\/p>\n<p>This report was published on April 13, 2022.<\/p>\n<p>Target price is <strong>$17.40<\/strong> Current Price is <strong>$14.14 <\/strong> Difference: <strong>$3.26<\/strong><br \/>If <strong>IGO<\/strong> meets the JP Morgan target it will return approximately <strong> 23%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$14.08<\/strong>, suggesting downside of <strong>-0.5%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>JP Morgan forecasts a full year <strong>FY22<\/strong> dividend of <strong>19.00<\/strong> cents and EPS of <strong>56.00<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>1.34%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>25.25<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>56.2<\/strong>, implying annual growth of <strong>132.7%<\/strong>.<br \/>Current consensus DPS estimate is <strong>17.0<\/strong>, implying a prospective dividend yield of <strong>1.2%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>25.2<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>JP Morgan forecasts a full year <strong>FY23<\/strong> dividend of <strong>87.00<\/strong> cents and EPS of <strong>249.00<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>6.15%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>5.68<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>208.9<\/strong>, implying annual growth of <strong>271.7%<\/strong>.<br \/>Current consensus DPS estimate is <strong>97.5<\/strong>, implying a prospective dividend yield of <strong>6.9%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>6.8<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.0<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"IRE\">IRE<\/a>&nbsp;&nbsp;&nbsp; IRESS LIMITED<\/h2>\n<p><strong>Wealth Management &amp; Investments &#8211; Overnight Price: $11.53 <\/strong><\/p>\n<p>JP Morgan rates ((IRE)) as Overweight (1) &#8211;<\/p>\n<p>Iress&nbsp;has announced that it will not be selling its UK Mortgages business due to global market volatility and a decline in technology company valuations.<\/p>\n<p>JP Morgan approves of the decision not to sell as it demonstrates management&#039;s discipline around shareholder returns.<\/p>\n<p>Management&nbsp;reiterated 2022 profit guidance of $75-82m. The Overweight rating and $12.90 target price are maintained.<\/p>\n<p>This report was published on April 13, 2022.<\/p>\n<p>Target price is <strong>$12.90<\/strong> Current Price is <strong>$11.53 <\/strong> Difference: <strong>$1.37<\/strong><br \/>If <strong>IRE<\/strong> meets the JP Morgan target it will return approximately <strong> 12%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$11.60<\/strong>, suggesting upside of <strong>0.6%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in December.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>JP Morgan forecasts a full year <strong>FY22<\/strong> dividend of <strong>46.00<\/strong> cents and EPS of <strong>40.00<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>3.99%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>28.82<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>39.9<\/strong>, implying annual growth of <strong>2.9%<\/strong>.<br \/>Current consensus DPS estimate is <strong>46.3<\/strong>, implying a prospective dividend yield of <strong>4.0%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>28.9<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>JP Morgan forecasts a full year <strong>FY23<\/strong> dividend of <strong>48.00<\/strong> cents and EPS of <strong>41.00<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>4.16%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>28.12<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>47.6<\/strong>, implying annual growth of <strong>19.3%<\/strong>.<br \/>Current consensus DPS estimate is <strong>47.3<\/strong>, implying a prospective dividend yield of <strong>4.1%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>24.2<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.0<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"JRV\">JRV<\/a>&nbsp;&nbsp;&nbsp; JERVOIS GLOBAL LIMITED<\/h2>\n<p><strong>New Battery Elements &#8211; Overnight Price: $0.97 <\/strong><\/p>\n<p>Canaccord Genuity rates ((JRV)) as Speculative Buy (1) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>The price target for&nbsp;Jervois Global jumps by 27% to $0.95 on&nbsp;higher cobalt price assumptions. The Buy rating is retained.<\/p>\n<p>While production numbers were trimmed&nbsp;due to the Russia\/Ukraine conflict&nbsp;and possible supply chain disruptions, the analyst remains unconcerned because of&nbsp;an expected improvement in earnings (EBITDA) margins.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$0.95<\/strong> Current Price is <strong>$0.97 <\/strong> Difference: <strong>minus $0.02<\/strong> (current price is over target).<br \/>If <strong>JRV<\/strong> meets the Canaccord Genuity target it will return approximately <strong>minus 2%<\/strong> (excluding dividends, fees and charges &#8211; negative figures indicate an expected loss).<\/p>\n<p>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"MLX\">MLX<\/a>&nbsp;&nbsp;&nbsp; METALS X LIMITED<\/h2>\n<p><strong>Tin &#8211; Overnight Price: $0.77 <\/strong><\/p>\n<p>Canaccord Genuity rates ((MLX)) as Hold (3) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>The largest increases in target price (44% to $0.72)&nbsp;was reserved for&nbsp;Metals X due to&nbsp;higher tin price assumptions. The Hold rating is maintained.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$0.72<\/strong> Current Price is <strong>$0.77 <\/strong> Difference: <strong>minus $0.05<\/strong> (current price is over target).<br \/>If <strong>MLX<\/strong> meets the Canaccord Genuity target it will return approximately <strong>minus 6%<\/strong> (excluding dividends, fees and charges &#8211; negative figures indicate an expected loss).<\/p>\n<p>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"NIC\">NIC<\/a>&nbsp;&nbsp;&nbsp; NICKEL MINES LIMITED<\/h2>\n<p><strong>Nickel &#8211; Overnight Price: $1.25 <\/strong><\/p>\n<p>Canaccord Genuity rates ((NIC)) as Upgrade to Buy from Hold (1) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>The broker upgrades its rating for&nbsp;Nickel Mines to Buy from Hold.&nbsp;The near term growth profile and lowest quartile position on the nickel pig iron (NPI) cost curve is highly regarded. The target price falls to $1.50 from $1.60.<\/p>\n<p>The analyst notes the share price has recently suffered following the revelations of the short nickel position held by Chinese metals group Tsingshan, which represented&nbsp;counterparty risk for the company.<\/p>\n<p>In addition, there has been margin pressure due to static NPI pricing and higher coal prices, explains the broker.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$1.50<\/strong> Current Price is <strong>$1.25 <\/strong> Difference: <strong>$0.25<\/strong><br \/>If <strong>NIC<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 20%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$1.54<\/strong>, suggesting upside of <strong>23.0%<\/strong>(ex-dividends)<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>10.5<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>6.7<\/strong>, implying a prospective dividend yield of <strong>5.4%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>11.9<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>16.4<\/strong>, implying annual growth of <strong>56.2%<\/strong>.<br \/>Current consensus DPS estimate is <strong>8.1<\/strong>, implying a prospective dividend yield of <strong>6.5%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>7.6<\/strong>.<\/p>\n<\/blockquote>\n<p>This company reports in <strong>USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.<br \/>Market Sentiment: <strong>0.3<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"NWL\">NWL<\/a>&nbsp;&nbsp;&nbsp; NETWEALTH GROUP LIMITED<\/h2>\n<p><strong>Wealth Management &amp; Investments &#8211; Overnight Price: $13.05 <\/strong><\/p>\n<p>Jarden rates ((NWL)) as Neutral (3) &#8211;<\/p>\n<p>Despite weaker flows in the third quarter,&nbsp;Netwealth Group has maintained its full year flow guidance of more than $13.5bn. This guidance, points out Jarden,&nbsp;is&nbsp;now subject to the timing of client transitions and no further deterioration in market conditions.<\/p>\n<p>Flows of $2.6bn were a -21% miss on the broker&#039;s expected $3.3bn, driving funds under administration to be -1.7% lower than estimated at $57.6bn.<\/p>\n<p>The broker highlights a higher cash account mix should offset lower administration&nbsp;fees in the quarter, and continues to expect higher operating costs to support elevated growth.<\/p>\n<p>The Neutral rating is retained and the target price increases to $14.15 from $14.10.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$14.15<\/strong> Current Price is <strong>$13.05 <\/strong> Difference: <strong>$1.1<\/strong><br \/>If <strong>NWL<\/strong> meets the Jarden target it will return approximately <strong> 8%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$16.04<\/strong>, suggesting upside of <strong>22.9%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY22<\/strong> dividend of <strong>19.80<\/strong> cents and EPS of <strong>22.60<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>1.52%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>57.74<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>23.5<\/strong>, implying annual growth of <strong>4.2%<\/strong>.<br \/>Current consensus DPS estimate is <strong>20.0<\/strong>, implying a prospective dividend yield of <strong>1.5%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>55.5<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY23<\/strong> dividend of <strong>26.10<\/strong> cents and EPS of <strong>30.10<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>2.00%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>43.36<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>30.2<\/strong>, implying annual growth of <strong>28.5%<\/strong>.<br \/>Current consensus DPS estimate is <strong>24.7<\/strong>, implying a prospective dividend yield of <strong>1.9%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>43.2<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.5<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"OZL\">OZL<\/a>&nbsp;&nbsp;&nbsp; OZ MINERALS LIMITED<\/h2>\n<p><strong>Copper &#8211; Overnight Price: $26.69 <\/strong><\/p>\n<p>Canaccord Genuity rates ((OZL)) as Buy (1) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>The broker&#039;s 2026-29 forecasts for the copper price rise&nbsp;by 20% on average.<\/p>\n<p>The analyst notes operations at OZ Minerals&nbsp;are improving after early covid-19&nbsp;disruption in South Australia and anticipates&nbsp;better upcoming quarters. The target rises to $31 from $28.50. Buy.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$31.00<\/strong> Current Price is <strong>$26.69 <\/strong> Difference: <strong>$4.31<\/strong><br \/>If <strong>OZL<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 16%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$25.28<\/strong>, suggesting downside of <strong>-5.3%<\/strong>(ex-dividends)<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>163.1<\/strong>, implying annual growth of <strong>2.2%<\/strong>.<br \/>Current consensus DPS estimate is <strong>25.8<\/strong>, implying a prospective dividend yield of <strong>1.0%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>16.4<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>124.9<\/strong>, implying annual growth of <strong>-23.4%<\/strong>.<br \/>Current consensus DPS estimate is <strong>27.0<\/strong>, implying a prospective dividend yield of <strong>1.0%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>21.4<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>-0.1<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"PAN\">PAN<\/a>&nbsp;&nbsp;&nbsp; PANORAMIC RESOURCES LIMITED<\/h2>\n<p><strong>Nickel &#8211; Overnight Price: $0.35 <\/strong><\/p>\n<p>Canaccord Genuity rates ((PAN)) as Downgrade to Hold from Buy (3) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>Despite these forecast commodity price upgrades, Canaccord&nbsp;Genuity&nbsp;downgrades its rating for&nbsp;Panoramic Resources to Hold from&nbsp;Buy after a recent strong performance by the share price. The $0.34 price target is retained.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$0.34<\/strong> Current Price is <strong>$0.35 <\/strong> Difference: <strong>minus $0.01<\/strong> (current price is over target).<br \/>If <strong>PAN<\/strong> meets the Canaccord Genuity target it will return approximately <strong>minus 3%<\/strong> (excluding dividends, fees and charges &#8211; negative figures indicate an expected loss).<\/p>\n<p>Market Sentiment: <strong>1.0<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"RVR\">RVR<\/a>&nbsp;&nbsp;&nbsp; RED RIVER RESOURCES LIMITED<\/h2>\n<p><strong>Industrial Metals &#8211; Overnight Price: $0.25 <\/strong><\/p>\n<p>Canaccord Genuity rates ((RVR)) as Speculative Buy (1) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>The broker&#039;s 2026-29 forecasts for the copper price rise by 20% on average.<\/p>\n<p>Canaccord Genuity maintains its Speculative Buy rating and $0.35 target price for&nbsp;Red River Resources.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$0.35<\/strong> Current Price is <strong>$0.25 <\/strong> Difference: <strong>$0.1<\/strong><br \/>If <strong>RVR<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 40%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Canaccord Genuity forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>0.00<\/strong> cents.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Canaccord Genuity forecasts a full year <strong>FY23<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>0.00<\/strong> cents.<\/p>\n<\/blockquote>\n<p>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"SEK\">SEK<\/a>&nbsp;&nbsp;&nbsp; SEEK LIMITED<\/h2>\n<p><strong>Jobs &amp; Skilled Labour Services &#8211; Overnight Price: $28.13 <\/strong><\/p>\n<p>Jarden rates ((SEK)) as Overweight (2) &#8211;<\/p>\n<p>Labour market recovery continues, with a further 18,000 jobs added in March and&nbsp;Seek benefiting from a record number of job ads&nbsp;as the unemployment rate fell to a 48-year low of 3.95%.&nbsp;Jarden expects further job growth and unemployment to remain below 4%.<\/p>\n<p>The broker expects Seek to continue to benefit from higher job flows over the next year, and is anticipating a 27% increase in the average number of monthly job ads in FY22 for the company&#039;s Australia\/NZ&nbsp;business.<\/p>\n<p>Jarden also anticipates average revenue per unit to increase 15% in FY22, noting each 5% increase to pricing equates to a $23m earnings benefit.<\/p>\n<p>The Overweight rating is retained and the target price increases to $40.80 from $40.10.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$40.80<\/strong> Current Price is <strong>$28.13 <\/strong> Difference: <strong>$12.67<\/strong><br \/>If <strong>SEK<\/strong> meets the Jarden target it will return approximately <strong> 45%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$34.31<\/strong>, suggesting upside of <strong>22.0%<\/strong>(ex-dividends)<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>68.6<\/strong>, implying annual growth of <strong>96.4%<\/strong>.<br \/>Current consensus DPS estimate is <strong>44.2<\/strong>, implying a prospective dividend yield of <strong>1.6%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>41.0<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>74.8<\/strong>, implying annual growth of <strong>9.0%<\/strong>.<br \/>Current consensus DPS estimate is <strong>44.4<\/strong>, implying a prospective dividend yield of <strong>1.6%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>37.6<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.4<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"SFR\">SFR<\/a>&nbsp;&nbsp;&nbsp; SANDFIRE RESOURCES LIMITED<\/h2>\n<p><strong>Copper &#8211; Overnight Price: $5.63 <\/strong><\/p>\n<p>Canaccord Genuity rates ((SFR)) as Hold (3) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>The broker&#039;s 2026-29 forecasts for the copper price rise by 20% on average.<\/p>\n<p>In a view aligned with the consensus forecast, the analyst&nbsp;anticipates&nbsp;a lower quarter for Sandfire Resources at both DeGrussa and<br \/>Matsa. The target price falls to $6 from $7.25, while the Hold rating is maintained.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$6.00<\/strong> Current Price is <strong>$5.63 <\/strong> Difference: <strong>$0.37<\/strong><br \/>If <strong>SFR<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 7%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$7.32<\/strong>, suggesting upside of <strong>29.9%<\/strong>(ex-dividends)<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>69.8<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>16.4<\/strong>, implying a prospective dividend yield of <strong>2.9%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>8.1<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>33.4<\/strong>, implying annual growth of <strong>-52.1%<\/strong>.<br \/>Current consensus DPS estimate is <strong>14.1<\/strong>, implying a prospective dividend yield of <strong>2.5%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>16.9<\/strong>.<\/p>\n<\/blockquote>\n<p>This company reports in <strong>USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.<br \/>Market Sentiment: <strong>0.6<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"TCL\">TCL<\/a>&nbsp;&nbsp;&nbsp; TRANSURBAN GROUP LIMITED<\/h2>\n<p><strong>Infrastructure &amp; Utilities &#8211; Overnight Price: $13.76 <\/strong><\/p>\n<p>Jarden rates ((TCL)) as Neutral (3) &#8211;<\/p>\n<p>Transurban Group&#039;s March quarter traffic update has disappointed&nbsp;Jarden&#039;s expectations, with the broker noting traffic levels were impacted by heavy rainfall in both New South Wales and Queensland in the quarter.<\/p>\n<p>More positively, mobility data demonstrated a rebound as weather normalised and momentum continued in line with the easing of covid restrictions. Progress continues on the West Gate Tunnel project, which has entered into documentation on revised delivery terms.<\/p>\n<p>The Neutral rating and target price of $13.00 are retained.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$13.00<\/strong> Current Price is <strong>$13.76 <\/strong> Difference: <strong>minus $0.76<\/strong> (current price is over target).<br \/>If <strong>TCL<\/strong> meets the Jarden target it will return approximately <strong>minus 6%<\/strong> (excluding dividends, fees and charges &#8211; negative figures indicate an expected loss).<br \/>Current consensus price target is <strong>$14.44<\/strong>, suggesting upside of <strong>4.9%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY22<\/strong> dividend of <strong>43.20<\/strong> cents and EPS of <strong>10.80<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>3.14%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>127.41<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>9.3<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>39.9<\/strong>, implying a prospective dividend yield of <strong>2.9%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>148.0<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY23<\/strong> dividend of <strong>62.40<\/strong> cents and EPS of <strong>22.80<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>4.53%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>60.35<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>25.3<\/strong>, implying annual growth of <strong>172.0%<\/strong>.<br \/>Current consensus DPS estimate is <strong>59.2<\/strong>, implying a prospective dividend yield of <strong>4.3%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>54.4<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.7<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"TNT\">TNT<\/a>&nbsp;&nbsp;&nbsp; TESSERENT LIMITED<\/h2>\n<p><strong>IT &amp; Support &#8211; Overnight Price: $0.17 <\/strong><\/p>\n<p>Shaw and Partners rates ((TNT)) as Buy (1) &#8211;<\/p>\n<p>Shaw and Partners expects&nbsp;Tesserent to be a key beneficiary of increased investor interest in the&nbsp;cybersecurity thematic. This comes&nbsp;following Australia&#039;s&nbsp;national security pledge to launch its own offensive cyber operations.<\/p>\n<p>The company is the largest Australian provider of cybersecurity services in the Canberra\/Federal Government space, points out the analyst.<\/p>\n<p>The broker feels there is limited downside to the company&#039;s share price given the potential attraction of the business to third parties, and&nbsp;the possibility for a month-end earnings surprise from 3Q results.<\/p>\n<p>The Buy rating and $0.28 target price are maintained.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$0.28<\/strong> Current Price is <strong>$0.17 <\/strong> Difference: <strong>$0.11<\/strong><br \/>If <strong>TNT<\/strong> meets the Shaw and Partners target it will return approximately <strong> 65%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Shaw and Partners forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>0.50<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>34.00<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Shaw and Partners forecasts a full year <strong>FY23<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>0.80<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>21.25<\/strong>.<\/p>\n<\/blockquote>\n<p>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"UWL\">UWL<\/a>&nbsp;&nbsp;&nbsp; UNITI GROUP LIMITED<\/h2>\n<p><strong>Telecommunication &#8211; Overnight Price: $4.98 <\/strong><\/p>\n<p>Jarden rates ((UWL)) as Downgrade to Neutral from Overweight (3) &#8211;<\/p>\n<p>Uniti Group looks set to be acquired by the Morrison-Brookfield consortium, having entered into a scheme implementation deed for&nbsp;100% of shares at $5.00 per share. The bid price drives&nbsp;Jarden&#039;s update target, and the broker notes&nbsp;a shareholder vote is anticipated in&nbsp;July.<\/p>\n<p>Conditions include an option for senior executive team members&nbsp;to receive&nbsp;partial scrip rather than cash consideration.&nbsp;Jarden remains of the opinion that corporate activity potential, rather than operations, will drive the share price over the next year.<\/p>\n<p>The rating is downgraded to Neutral from Overweight and the target price of $5.00 is retained.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$5.00<\/strong> Current Price is <strong>$4.98 <\/strong> Difference: <strong>$0.02<\/strong><br \/>If <strong>UWL<\/strong> meets the Jarden target it will return approximately <strong> 0%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>11.00<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>45.27<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY23<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>13.10<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>38.02<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.3<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"WSA\">WSA<\/a>&nbsp;&nbsp;&nbsp; WESTERN AREAS LIMITED<\/h2>\n<p><strong>Nickel &#8211; Overnight Price: $3.84 <\/strong><\/p>\n<p>Canaccord Genuity rates ((WSA)) as Hold (3) &#8211;<\/p>\n<p>Following upgrades to&nbsp;Canaccord Genuity&#039;s&nbsp;commodity price forecasts, price targets across the broker&#039;s coverage of base metals and electric vehicle materials companies have risen by an average of 8%.<\/p>\n<p>The broker raises its target to $3.87 from $3.36 for Western Areas, due to the 15% increase in&nbsp;takeover offer price to $3.87&nbsp;from IGO Ltd ((IGO)). The Hold rating is maintained.<\/p>\n<p>This report was published on April 19, 2022.<\/p>\n<p>Target price is <strong>$3.87<\/strong> Current Price is <strong>$3.84 <\/strong> Difference: <strong>$0.03<\/strong><br \/>If <strong>WSA<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 1%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$3.89<\/strong>, suggesting upside of <strong>1.2%<\/strong>(ex-dividends)<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>22.9<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>0.2<\/strong>, implying a prospective dividend yield of <strong>0.1%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>16.8<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Current consensus EPS estimate is <strong>19.2<\/strong>, implying annual growth of <strong>-16.2%<\/strong>.<br \/>Current consensus DPS estimate is <strong>2.8<\/strong>, implying a prospective dividend yield of <strong>0.7%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>20.0<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>-0.3<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<hr \/>\n<p><strong>Disclaimer:<\/strong><br \/>The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don&#039;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<p><span style=\"color:#444444\"><span style=\"font-family:arial,sans-serif\"><span style=\"font-size:10.0pt\">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<p><span style=\"color:#444444\"><span style=\"font-family:arial,sans-serif\"><span style=\"font-size:10.0pt\">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":"<p>Extra Edition of the Broker Call Report<\/p>\n","protected":false},"author":1,"featured_media":101067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[84],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/101057"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=101057"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/101057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media\/101067"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=101057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=101057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=101057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}