##{"id":84013,"date":"2019-12-05T11:49:53","date_gmt":"2019-12-05T00:49:53","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2019\/12\/05\/australian-broker-call-extra-edition-dec-05-2019\/"},"modified":"2019-12-05T11:49:53","modified_gmt":"2019-12-05T00:49:53","slug":"australian-broker-call-extra-edition-dec-05-2019","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2019\/12\/05\/australian-broker-call-extra-edition-dec-05-2019\/","title":{"rendered":"Australian Broker Call *Extra* Edition – Dec 05, 2019"},"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.
\nThe number next to the symbol represents the number of brokers covering it for this report -(if more than 1)<\/p>\n

ATU<\/a> AVH<\/a> CAJ<\/a> CMA<\/a> CMP<\/a> COI<\/a> EML<\/a> GGG<\/a> IDX<\/a> MMI<\/a> PCK<\/a> PEX<\/a> PNV<\/a> SMR<\/a> TNE<\/a> WTC<\/a> <\/p>\n

ATU<\/a>    ATRUM COAL LIMITED<\/h2>\n
Coal – Overnight Price: $0.30 <\/strong><\/p>\n
Shaw and Partners rates ((ATU)) as Initiation of coverage with Buy (1) –<\/p>\n
Atrum Coal is developing the Elan hard coking coal project in Canada. Shaw and Partners anticipates first production in late 2023.<\/p>\n
The southern part of the project is adjacent to the Grassy Mountain coal project. Atrum Coal is around two years behind Grassy Mountain but is following the same development pathway and this is potentially a larger project, the broker notes.<\/p>\n
Shaw and Partners initiates coverage with a Buy rating and $0.80 target.<\/p>\n
This report was first published December 3, 2019.<\/p>\n
Target price is $0.80<\/strong> Current Price is $0.30 <\/strong> Difference: $0.5<\/strong>
\nIf ATU<\/strong> meets the Shaw and Partners target it will return approximately 167%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in December.<\/p>\n
Forecast for FY19:<\/strong><\/p>\n
Shaw and Partners forecasts a full year FY19<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 2.90<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.34<\/strong>.<\/p><\/blockquote>\n
Forecast for FY20:<\/strong><\/p>\n
Shaw and Partners forecasts a full year FY20<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 2.20<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 13.64<\/strong>.<\/p><\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
AVH<\/a>    AVITA MEDICAL LTD<\/h2>\n
Pharmaceuticals & Biotech\/Lifesciences – Overnight Price: $0.60 <\/strong><\/p>\n
Wilsons rates ((AVH)) as Initiation of coverage with Market Weight (3) –<\/p>\n
Wilsons initiates coverage with a Market Weight rating and $0.60 target. The company currently is commercialising RECELL for the treatment of severe burns. Future applications of the product include the treatment of other wounds and trauma.<\/p>\n
Wilsons is enthusiastic but tempers this with the knowledge of a very aggressive, albeit necessary, cost investment, which makes a break-even point difficult to ascertain.<\/p>\n
This report was published on December 4, 2019.<\/p>\n
Target price is $0.60<\/strong> Current Price is $0.60 <\/strong> Difference: $0<\/strong>
\nIf AVH<\/strong> meets the Wilsons target it will return approximately 0%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Wilsons forecasts a full year FY20<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.60<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 37.50<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Wilsons forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 0.90<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 66.67<\/strong>.<\/p><\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CAJ<\/a>    CAPITOL HEALTH LIMITED<\/h2>\n
Healthcare services – Overnight Price: $0.24 <\/strong><\/p>\n
Wilsons rates ((CAJ)) as Initiation of coverage with Market Weight (3) –<\/p>\n
The radiology service provider has the leadership and capital structure to capture some material tailwinds, Wilsons suggests. Capitol Health owns and operates a network of 66 radiology clinics in Victoria, Western Australia and Tasmania.<\/p>\n
The broker believes the current valuation reflects the turnaround risks appropriately and offers the most potential upside among listed peers.<\/p>\n
Wilsons initiates coverage with a Market Weight rating and $0.24 target.<\/p>\n
This report was published on December 4, 2019.<\/p>\n
Target price is $0.24<\/strong> Current Price is $0.24 <\/strong> Difference: $0<\/strong>
\nIf CAJ<\/strong> meets the Wilsons target it will return approximately 0%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Wilsons forecasts a full year FY20<\/strong> dividend of 1.10<\/strong> cents and EPS of 1.40<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 4.58%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.14<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Wilsons forecasts a full year FY21<\/strong> dividend of 1.20<\/strong> cents and EPS of 1.50<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 5.00%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.00<\/strong>.<\/p><\/blockquote>\n
Market Sentiment: 0.5<\/strong>
\nAll consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CMA<\/a>    CENTURIA METROPOLITAN REIT<\/h2>\n
REITs – Overnight Price: $3.15 <\/strong><\/p>\n
Shaw and Partners rates ((CMA)) as Hold (3) –<\/p>\n
The company has increased its occupancy level to 99.9% from 98.4% as a result of leasing activity since June 2019. Despite this, guidance is unchanged.<\/p>\n
Shaw and Partners believes management is being conservative and increases FY20 and FY21 estimates for earnings by 0.6% and 1.3%, respectively.<\/p>\n
Centuria Metropolitan has entered into a new 10-year lease agreement with the Western Australian government, which will now occupy the entire building at 144 Stirling Street, Perth.<\/p>\n
The broker expects a solid valuation uplift on the asset as a result of this deal. Hold rating maintained. Target rises to $3.08 from $3.02.<\/p>\n
This report was first published on December 4, 2019.<\/p>\n
Target price is $3.08<\/strong> Current Price is $3.15 <\/strong> Difference: minus $0.07<\/strong> (current price is over target).
\nIf CMA<\/strong> meets the Shaw and Partners target it will return approximately minus 2%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
\nCurrent consensus price target is $2.87<\/strong>, suggesting downside of -8.9%<\/strong>(ex-dividends)
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Shaw and Partners forecasts a full year FY20<\/strong> dividend of 17.80<\/strong> cents and EPS of 19.10<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 5.65%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.49<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 19.0<\/strong>, implying annual growth of 16.6%<\/strong>.
\nCurrent consensus DPS estimate is 17.9<\/strong>, implying a prospective dividend yield of 5.7%<\/strong>.
\nCurrent consensus EPS estimate suggests the PER is 16.6<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Shaw and Partners forecasts a full year FY21<\/strong> dividend of 18.20<\/strong> cents and EPS of 19.40<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 5.78%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.24<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 19.5<\/strong>, implying annual growth of 2.6%<\/strong>.
\nCurrent consensus DPS estimate is 18.0<\/strong>, implying a prospective dividend yield of 5.7%<\/strong>.
\nCurrent consensus EPS estimate suggests the PER is 16.2<\/strong>.<\/p><\/blockquote>\n
Market Sentiment: 0.0<\/strong>
\nAll consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CMP<\/a>    COMPUMEDICS LIMITED<\/h2>\n
Medical Equipment & Devices – Overnight Price: $0.82 <\/strong><\/p>\n
Taylor Collison rates ((CMP)) as Initiation of coverage with Outperform (2) –<\/p>\n
Compumedics develops and manufactures medical devices for diagnosing sleep disorders and monitoring neurological disorders. The company is strongly positioned to benefit from the ongoing growth in the sleep testing market, Taylor Collison believes.<\/p>\n
There are also solid growth prospects in the brain scan market. Upcoming regulatory approvals could be very beneficial to the year ahead, suggests the analyst.<\/p>\n
The broker initiates coverage with an Outperform rating and $0.85 target.<\/p>\n
This report was published on November 25, 2019.<\/p>\n
Target price is $0.85<\/strong> Current Price is $0.82 <\/strong> Difference: $0.03<\/strong>
\nIf CMP<\/strong> meets the Taylor Collison target it will return approximately 4%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Taylor Collison forecasts a full year FY20<\/strong> dividend of 0.00<\/strong> cents and EPS of 3.00<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.33<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Taylor Collison forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of 3.50<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.43<\/strong>.<\/p><\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
COI<\/a>    COMET RIDGE LIMITED<\/h2>\n
NatGas – Overnight Price: $0.19 <\/strong><\/p>\n
Bell Potter rates ((COI)) as Initiation of coverage with Buy (1) –<\/p>\n
The company's most advanced project is a 40% interest in the Mahalo CSG JV in the Bowen Basin. A final investment decision on that project is expected by June 2020. The company also has large exploration acreage in the Galilee and Gunnedah basins.<\/p>\n
Hence, Comet Ridge could be producing gas in 2021. An LNG supply deficit is predicted from 2022 and this could translate to higher gas prices, of which the company could take a timing advantage.<\/p>\n
Bell Potter initiates coverage with a Speculative Buy rating and $0.28 target.<\/p>\n
This report was published on December 4, 2019.<\/p>\n
Target price is $0.28<\/strong> Current Price is $0.19 <\/strong> Difference: $0.09<\/strong>
\nIf COI<\/strong> meets the Bell Potter target it will return approximately 47%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Bell Potter forecasts a full year FY20<\/strong> EPS of minus 0.60<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 31.67<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Bell Potter forecasts a full year FY21<\/strong> EPS of minus 0.50<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 38.00<\/strong>.<\/p><\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
EML<\/a>    EML PAYMENTS LIMITED<\/h2>\n
Business & Consumer Credit – Overnight Price: $4.37 <\/strong><\/p>\n
E.L. & C Baillieu rates ((EML)) as Buy (1) –<\/p>\n
EML Payments has secured a five-year agreement with Simon Property Group for the distribution of multiple payment card products through select malls and B2B channels in the US.<\/p>\n
A contract was flagged at the time of the recent capital raising and, whilst it would be easy to become excited about an agreement with the largest US mall operator, it should be remembered, Baillieu points out, that the deal is non-exclusive.<\/p>\n
While load values from the contract may be modest vs those for the overall group, the fact this is the largest US mall operator may prove to be an 'opener' for Simon Property's global interests. Buy rating maintained. Target is raised to $5.45 from $5.05.<\/p>\n
This report was published on December 3, 2019.<\/p>\n
Target price is $5.45<\/strong> Current Price is $4.37 <\/strong> Difference: $1.08<\/strong>
\nIf EML<\/strong> meets the E.L. & C Baillieu target it will return approximately 25%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
E.L. & C Baillieu forecasts a full year FY20<\/strong> dividend of 0.00<\/strong> cents and EPS of 5.80<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 75.34<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
E.L. & C Baillieu forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of 12.90<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.88<\/strong>.<\/p><\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
GGG<\/a>    GREENLAND MINERALS LIMITED<\/h2>\n
Rare Earth Minerals – Overnight Price: $0.13 <\/strong><\/p>\n
Euroz rates ((GGG)) as Initiation of coverage with Speculative Buy (1) –<\/p>\n
Euroz initiates coverage of Greenland Minerals with a Speculative Buy rating and $0.55 target. The company has the largest undeveloped rare earths deposit globally, Kvanefjeld in Greenland.<\/p>\n
The broker notes demand for rare earths is growing, given the use in permanent magnets for electric motors and wind turbines. China dominates downstream processing of rare earths, making it a critical mineral and of particular strategic importance globally.<\/p>\n
Euroz notes Greenland Minerals has made significant inroads into obtaining a mining licence, which is expected in 2020.<\/p>\n
This report was released on December 2, 2019.<\/p>\n
Target price is $0.55<\/strong> Current Price is $0.13 <\/strong> Difference: $0.42<\/strong>
\nIf GGG<\/strong> meets the Euroz target it will return approximately 323%<\/strong> (excluding dividends, fees and charges).<\/p>\n
Forecast for FY19:<\/strong><\/p>\n
<\/blockquote>\n
Forecast for FY20:<\/strong><\/p>\n
Euroz forecasts a full year FY20<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.30<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.00<\/strong>.<\/p><\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
IDX<\/a>    INTEGRAL DIAGNOSTICS LIMITED<\/h2>\n
Medical Equipment & Devices – Overnight Price: $3.55 <\/strong><\/p>\n
Wilsons rates ((IDX)) as Initiation of coverage with Overweight (1) –<\/p>\n
Wilsons initiates coverage with an Overweight rating and $4 target. Integral Diagnostics is one of the fastest-growing operators in the radiology industry.<\/p>\n
Near-term earnings could be bolstered by organic growth and synergies following the acquisition of Imaging Queensland, the broker suggests.<\/p>\n
This report was published on December 4, 2019.<\/p>\n
Target price is $4.00<\/strong> Current Price is $3.55 <\/strong> Difference: $0.45<\/strong>
\nIf IDX<\/strong> meets the Wilsons target it will return approximately 13%<\/strong> (excluding dividends, fees and charges).
\nCurrent consensus price target is $3.40<\/strong>, suggesting downside of -4.1%<\/strong>(ex-dividends)
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Wilsons forecasts a full year FY20<\/strong> dividend of 11.00<\/strong> cents and EPS of 17.50<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 3.10%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.29<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 17.2<\/strong>, implying annual growth of 28.7%<\/strong>.
\nCurrent consensus DPS estimate is 11.1<\/strong>, implying a prospective dividend yield of 3.1%<\/strong>.
\nCurrent consensus EPS estimate suggests the PER is 20.6<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Wilsons forecasts a full year FY21<\/strong> dividend of 13.00<\/strong> cents and EPS of 19.90<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 3.66%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.84<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 19.7<\/strong>, implying annual growth of 14.5%<\/strong>.
\nCurrent consensus DPS estimate is 12.6<\/strong>, implying a prospective dividend yield of 3.5%<\/strong>.
\nCurrent consensus EPS estimate suggests the PER is 18.0<\/strong>.<\/p><\/blockquote>\n
Market Sentiment: 0.5<\/strong>
\nAll consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
MMI<\/a>    METRO MINING LIMITED<\/h2>\n
Coal – Overnight Price: $0.15 <\/strong><\/p>\n
Shaw and Partners rates ((MMI)) as Initiation of coverage with Buy (1) –<\/p>\n
Metro Mining is a bauxite producer in Far North Queensland, expected to produce 3.5mt in 2019 and expand production to 6mtpa by 2021.<\/p>\n
Once the expansion is complete, Shaw and Partners expects the share price will trade towards its valuation at $0.30.<\/p>\n
The broker initiates coverage with a Buy rating and $0.24 target. The target is set at a -20% discount to valuation to reflect the risks and the expansion plans.<\/p>\n
This report was published on December 4, 2019.<\/p>\n
Target price is $0.24<\/strong> Current Price is $0.15 <\/strong> Difference: $0.09<\/strong>
\nIf MMI<\/strong> meets the Shaw and Partners target it will return approximately 60%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY19:<\/strong><\/p>\n
Shaw and Partners forecasts a full year FY19<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.50<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.00<\/strong>.<\/p><\/blockquote>\n
Forecast for FY20:<\/strong><\/p>\n
Shaw and Partners forecasts a full year FY20<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.90<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.67<\/strong>.<\/p><\/blockquote>\n
Market Sentiment: 1.0<\/strong>
\nAll consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
PCK<\/a>    PAINCHEK LIMITED<\/h2>\n
Medical Equipment & Devices – Overnight Price: $0.21 <\/strong><\/p>\n
Canaccord Genuity rates ((PCK)) as Initiation of coverage with Buy (1) –<\/p>\n
PainChek has developed a patented technology in the form of a mobile app that enables facial expressions that indicate pain to be analysed.<\/p>\n
This can help carers identify the presence of pain when it is not so obvious, and quantify the severity, monitoring the effectiveness of interventions by aged care staff and medical personnel.<\/p>\n
Canaccord Genuity is attracted to the global opportunity, the traction in the Australian market and the recent government grant as well as the opening up of the UK market.<\/p>\n
The broker initiates coverage with a Buy rating and $0.55 target.<\/p>\n
This report was published on November 25, 2019.<\/p>\n
Target price is $0.55<\/strong> Current Price is $0.21 <\/strong> Difference: $0.34<\/strong>
\nIf PCK<\/strong> meets the Canaccord Genuity target it will return approximately 162%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Canaccord Genuity forecasts a full year FY20<\/strong> EPS of minus 37.00<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.57<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Canaccord Genuity forecasts a full year FY21<\/strong> EPS of minus 4.00<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.25<\/strong>.<\/p><\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
PEX<\/a>    PEEL MINING LIMITED<\/h2>\n
Mining – Overnight Price: $0.25 <\/strong><\/p>\n
Hartleys rates ((PEX)) as Initiation of coverage with Speculative Buy (1) –<\/p>\n
Peel Mining has been actively exploring in the Cobar Basin, NSW, since 2010 and has three projects. These include the Wagga Tank multi-metal, Mallee Bull and Wirlong copper discoveries.<\/p>\n
Hartleys assesses the company has a strong technical footing and a proven track record.<\/p>\n
The broker notes the stock is priced for success and, while the current resource base is not quite at the size and scale to underpin development of a stand-alone operation, there is strong potential to grow over time given the multiple quality targets.<\/p>\n
Hartleys initiates coverage with a Speculative Buy rating and $0.38 target.<\/p>\n
Target price is $0.38<\/strong> Current Price is $0.25 <\/strong> Difference: $0.13<\/strong>
\nIf PEX<\/strong> meets the Hartleys target it will return approximately 52%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
PNV<\/a>    POLYNOVO LIMITED<\/h2>\n
Pharmaceuticals & Biotech\/Lifesciences – Overnight Price: $1.75 <\/strong><\/p>\n
Wilsons rates ((PNV)) as Initiation of coverage with Overweight (1) –<\/p>\n
Wilsons initiates coverage with an Overweight rating and $2.25 target. The broker is impressed with the feedback from the company's NovoSorb product, amid demand from US surgeons.<\/p>\n
The company is moving quickly to extend and support growth in its new markets. The broker acknowledges the high equity valuation risks that accompany the investment but asserts the growth trajectory for the next three years is attractive.<\/p>\n
This report was published on December 4, 2019.<\/p>\n
Target price is $2.25<\/strong> Current Price is $1.75 <\/strong> Difference: $0.5<\/strong>
\nIf PNV<\/strong> meets the Wilsons target it will return approximately 29%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Wilsons forecasts a full year FY20<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.30<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 583.33<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Wilsons forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of 1.80<\/strong> cents.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 97.22<\/strong>.<\/p><\/blockquote>\n
Market Sentiment: 1.0<\/strong>
\nAll consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
SMR<\/a>    STANMORE COAL LIMITED<\/h2>\n
Coal – Overnight Price: $1.03 <\/strong><\/p>\n
Shaw and Partners rates ((SMR)) as Initiation of coverage with Buy (1) –<\/p>\n
Shaw and Partners considers Stanmore Coal to be exceptionally cheap. The FY20 dividend is expected to be 6c per share at a pay-out of 30%, which equates to a 6.1% dividend yield at the current share price.<\/p>\n
The share price has been negatively affected in 2019 by the retreating coal prices, distracting corporate events and the departure of a well-regarded managing director.<\/p>\n
Once the coal price stabilises, the broker expects it will trade more in line with the target. Shaw and Partners initiates coverage with a Buy rating and $1.31 target.<\/p>\n
This report was released on December 3, 2019.<\/p>\n
Target price is $1.31<\/strong> Current Price is $1.03 <\/strong> Difference: $0.28<\/strong>
\nIf SMR<\/strong> meets the Shaw and Partners target it will return approximately 27%<\/strong> (excluding dividends, fees and charges).
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Shaw and Partners forecasts a full year FY20<\/strong> dividend of 6.00<\/strong> cents and EPS of 18.70<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 5.83%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.51<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Shaw and Partners forecasts a full year FY21<\/strong> dividend of 3.00<\/strong> cents and EPS of 7.70<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 2.91%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.38<\/strong>.<\/p><\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
TNE<\/a>    TECHNOLOGYONE LIMITED<\/h2>\n
IT & Support – Overnight Price: $8.69 <\/strong><\/p>\n
Bell Potter rates ((TNE)) as Downgrade to Hold from Buy (3) –<\/p>\n
Bell Potter continues to forecast growth in pre-tax profit in the mid to high teens over the next three years.<\/p>\n
The reason why profit growth is expected to increase beyond the traditional 15% in FY21 and FY22 is based on solid increases in the margin, as software-as-a-service revenue grows strongly and the UK business starts to generate a profit.<\/p>\n
The net result of the broker's review of forecasts is a 6% increase in the target to $9.50 from $9.00. At this level the total expected return is 4% and, as this is below the 15% threshold for a Buy rating, the broker's recommendation is downgraded to Hold.<\/p>\n
The risk to to the forecast is if the company increases guidance at its AGM in February.<\/p>\n
This report was released on December 3, 2019.<\/p>\n
Target price is $9.50<\/strong> Current Price is $8.69 <\/strong> Difference: $0.81<\/strong>
\nIf TNE<\/strong> meets the Bell Potter target it will return approximately 9%<\/strong> (excluding dividends, fees and charges).
\nCurrent consensus price target is $8.15<\/strong>, suggesting downside of -6.2%<\/strong>(ex-dividends)
\nThe company's fiscal year ends in September.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Bell Potter forecasts a full year FY20<\/strong> dividend of 13.70<\/strong> cents and EPS of 20.90<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 1.58%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.58<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 20.5<\/strong>, implying annual growth of 11.2%<\/strong>.
\nCurrent consensus DPS estimate is 12.8<\/strong>, implying a prospective dividend yield of 1.5%<\/strong>.
\nCurrent consensus EPS estimate suggests the PER is 42.4<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Bell Potter forecasts a full year FY21<\/strong> dividend of 15.80<\/strong> cents and EPS of 24.30<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 1.82%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.76<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 23.3<\/strong>, implying annual growth of 13.7%<\/strong>.
\nCurrent consensus DPS estimate is 15.0<\/strong>, implying a prospective dividend yield of 1.7%<\/strong>.
\nCurrent consensus EPS estimate suggests the PER is 37.3<\/strong>.<\/p><\/blockquote>\n
Market Sentiment: -0.3<\/strong>
\nAll consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
WTC<\/a>    WISETECH GLOBAL LIMITED<\/h2>\n
Cloud services – Overnight Price: $25.46 <\/strong><\/p>\n
Bell Potter rates ((WTC)) as Upgrade to Hold from Sell (3) –<\/p>\n
Bell Potter has upgraded to Hold from Sell without making any changes to forecasts or the $25 price target. The broker notes the share price has been under pressure ever since it became the focus of offshore short sellers.<\/p>\n
Despite this public attack on the company's integrity, Bell Potter continues to view Wisetech Global as a quality global software company, albeit with the comment that there are valuable questions being asked about the company's acquisition strategy.<\/p>\n
Wisetech Global is yet to generate a meaningful return on investment from its long list of acquisitions, agrees the broker. As such, Bell Potter doesn't think this stock deserves to trade at a valuation premium versus Altium ((ALU)), and other good quality global software companies.<\/p>\n
This report was published on December 5, 2019.<\/p>\n
Target price is $25.00<\/strong> Current Price is $25.46 <\/strong> Difference: minus $0.46<\/strong> (current price is over target).
\nIf WTC<\/strong> meets the Bell Potter target it will return approximately minus 2%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
\nCurrent consensus price target is $30.00<\/strong>, suggesting upside of 17.8%<\/strong>(ex-dividends)
\nThe company's fiscal year ends in June.<\/p>\n
Forecast for FY20:<\/strong><\/p>\n
Bell Potter forecasts a full year FY20<\/strong> dividend of 4.90<\/strong> cents and EPS of 25.30<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 0.19%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 100.63<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 29.6<\/strong>, implying annual growth of 67.2%<\/strong>.
\nCurrent consensus DPS estimate is 5.2<\/strong>, implying a prospective dividend yield of 0.2%<\/strong>.
\nCurrent consensus EPS estimate suggests the PER is 86.0<\/strong>.<\/p><\/blockquote>\n
Forecast for FY21:<\/strong><\/p>\n
Bell Potter forecasts a full year FY21<\/strong> dividend of 7.00<\/strong> cents and EPS of 36.20<\/strong> cents.
\nAt the last closing share price the estimated dividend yield is 0.27%<\/strong>.
\nAt the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 70.33<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 40.6<\/strong>, implying annual growth of 37.2%<\/strong>.
\nCurrent consensus DPS estimate is 7.0<\/strong>, implying a prospective dividend yield of 0.3%<\/strong>.
\nCurrent consensus EPS estimate suggests the PER is 62.7<\/strong>.<\/p><\/blockquote>\n
Market Sentiment: 0.5<\/strong>
\nAll consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
\n
Disclaimer:<\/strong>
\nThe 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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