##{"id":98325,"date":"2021-12-01T10:12:35","date_gmt":"2021-11-30T23:12:35","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=98325"},"modified":"2021-12-01T10:12:35","modified_gmt":"2021-11-30T23:12:35","slug":"australian-broker-call-extra-edition-dec-01-2021","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2021\/12\/01\/australian-broker-call-extra-edition-dec-01-2021\/","title":{"rendered":"Australian Broker Call *Extra* Edition – Dec 01, 2021"},"content":{"rendered":"

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

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

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

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

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

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

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

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

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

ABB<\/a> ADH<\/a> BGA<\/a> EML<\/a> IRI<\/a> JAN<\/a> KGN<\/a> NWH<\/a> PBP<\/a> PGL<\/a> PLY<\/a> TNE<\/a> TRJ<\/a> WSP (2)<\/a> Z2U<\/a> <\/p>\n

ABB<\/a>    AUSSIE BROADBAND LIMITED<\/h2>\n
Telecommunication – Overnight Price: $5.23 <\/strong><\/p>\n
JP Morgan rates ((ABB)) as Initiation of coverage with Overweight (1) –<\/p>\n
JP Morgan initiates coverage on Aussie Broadband with an Overweight rating and $6.50 target price. The retailer of NBN broadband services to households is considered to have a premium product offering and customers who are willing to switch from the incumbents.<\/p>\n
The company's key competitive advantage is in customer service, offering better speed guarantees and lower congestion, explains the analyst. It's estimated net present value will rise to $11\/share should the company achieve a 15% market share by FY27.<\/p>\n
JP Morgan points out the proposed acquisition of Over the Wire Holdings ((OTW)) should augment the company's Business offering though doesn't increase risk.<\/p>\n
This report was published on November 30, 2021.<\/p>\n
Target price is $6.50<\/strong> Current Price is $5.23 <\/strong> Difference: $1.27<\/strong>
If ABB<\/strong> meets the JP Morgan target it will return approximately 24%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 11.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 47.55<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 22.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.77<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.5<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
ADH<\/a>    ADAIRS LIMITED<\/h2>\n
Furniture & Renovation – Overnight Price: $3.59 <\/strong><\/p>\n
Canaccord Genuity rates ((ADH)) as Buy (1) –<\/p>\n
Canaccord Genuity sees the -$80m acquisition of Focus on Furniture as a way for Adairs to increase exposure to the bulky furniture category, and to provide a national roll-out opportunity. The store footprint is currently considered Victorian-centric.<\/p>\n
The analyst believes the look of the 23 stores in the transaction can be enhanced and the product ranges could be further coordinated. The business will be run independently of the Adairs brand and managed by the existing Focus on Furniture team.<\/p>\n
Buy. Target increased to $5.10 from $4.60.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $5.10<\/strong> Current Price is $3.59 <\/strong> Difference: $1.51<\/strong>
If ADH<\/strong> meets the Canaccord Genuity target it will return approximately 42%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.93<\/strong>, suggesting upside of 37.4%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 21.00<\/strong> cents and EPS of 38.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.85%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.45<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 34.2<\/strong>, implying annual growth of -9.3%<\/strong>.
Current consensus DPS estimate is 22.0<\/strong>, implying a prospective dividend yield of 6.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 10.5<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 28.00<\/strong> cents and EPS of 42.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 7.80%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.55<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 40.8<\/strong>, implying annual growth of 19.3%<\/strong>.
Current consensus DPS estimate is 28.6<\/strong>, implying a prospective dividend yield of 8.0%<\/strong>.
Current consensus EPS estimate suggests the PER is 8.8<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.8<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
BGA<\/a>    BEGA CHEESE LIMITED<\/h2>\n
Dairy – Overnight Price: $5.49 <\/strong><\/p>\n
Bell Potter rates ((BGA)) as Buy (1) –<\/p>\n
Positive movements in dairy ingredient pricing, including price increases to protein and butterfat and lifted skim milk powder returns, has driven a 2% increase to Bell Potter's FY22-24 profit forecasts for Bega Cheese.<\/p>\n
The broker's view is that the current share price does not recognise material recovery in dairy ingredient prices and that Bega Cheese will see material returns improvement over the next three years. <\/p>\n
The Buy rating is retained and the target price increases to $6.45 from $6.35.<\/p>\n
This report was published November 25, 2021.<\/p>\n
Target price is $6.45<\/strong> Current Price is $5.49 <\/strong> Difference: $0.96<\/strong>
If BGA<\/strong> meets the Bell Potter target it will return approximately 17%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 14.00<\/strong> cents and EPS of 25.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.55%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.36<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 16.00<\/strong> cents and EPS of 28.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.91%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.00<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.8<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
EML<\/a>    EML PAYMENTS LIMITED<\/h2>\n
Business & Consumer Credit – Overnight Price: $3.60 <\/strong><\/p>\n
Canaccord Genuity rates ((EML)) as Upgrade to Buy from Hold (1) –<\/p>\n
Canaccord Genuity believes EML Payments can now attain sustainable revenue\/earnings growth beyond FY22, following positive correspondence from the Central Bank of Ireland (CBI). <\/p>\n
The CBI will allow the subsidiary of EML Payments, PFS, to sign new customers and launch new programs, while staying within the material growth restrictions.<\/p>\n
Management intends to focus on higher margin\/lower volume programs to ensure growth remains suitably constrained. The broker's target price rises to $4.50 from $3.50 and the rating increases to Buy from Hold.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $4.50<\/strong> Current Price is $3.60 <\/strong> Difference: $0.9<\/strong>
If EML<\/strong> meets the Canaccord Genuity target it will return approximately 25%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.11<\/strong>, suggesting upside of 14.1%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 9.80<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.73<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 5.9<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is N\/A<\/strong>, implying a prospective dividend yield of N\/A<\/strong>.
Current consensus EPS estimate suggests the PER is 61.0<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 12.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.00<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 10.6<\/strong>, implying annual growth of 79.7%<\/strong>.
Current consensus DPS estimate is N\/A<\/strong>, implying a prospective dividend yield of N\/A<\/strong>.
Current consensus EPS estimate suggests the PER is 34.0<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
IRI<\/a>    INTEGRATED RESEARCH LIMITED<\/h2>\n
IT & Support – Overnight Price: $1.21 <\/strong><\/p>\n
Bell Potter rates ((IRI)) as Hold (3) –<\/p>\n
Bell Potter notes despite commentary from Integrated Research that FY22 results to date are in-line with last year, first half results from the company in FY21 were weak and second half improvement should have suggested stronger performance for the first half of FY22. <\/p>\n
The broker downgrades earnings per share forecasts -10%, -9% and -9% for FY22, FY23 and FY24 respectively. <\/p>\n
The Hold rating is retained and the target price decreases to $1.50 from $2.10.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $1.50<\/strong> Current Price is $1.21 <\/strong> Difference: $0.29<\/strong>
If IRI<\/strong> meets the Bell Potter target it will return approximately 24%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 5.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.41<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 1.00<\/strong> cents and EPS of 8.20<\/strong> cents.
At the last closing share price the estimated dividend yield is 0.83%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.76<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
JAN<\/a>    JANISON EDUCATION GROUP LIMITED<\/h2>\n
Education & Tuition – Overnight Price: $1.40 <\/strong><\/p>\n
Wilsons rates ((JAN)) as Overweight (1) –<\/p>\n
Janison Education Group has purchased Academic Assessment Services for -$17m, with a $9m part-cash part-scrip upfront payment. Academic Assessment Services targets upper-tier schools, which Wilsons notes often have larger budgets for sales opportunity. <\/p>\n
Acquisition strategy remains to digitise platforms and services and cross-sell existing assessment products to Academic Assessment Services' customers base. The acquisition sees revenue and underlying earnings forecasts increase 11-20%. <\/p>\n
The Overweight rating is retained and the target price increases to $1.56 from $1.38.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $1.56<\/strong> Current Price is $1.40 <\/strong> Difference: $0.16<\/strong>
If JAN<\/strong> meets the Wilsons target it will return approximately 11%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 116.67<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 350.00<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
KGN<\/a>    KOGAN.COM LIMITED<\/h2>\n
Retailing – Overnight Price: $7.99 <\/strong><\/p>\n
Canaccord Genuity rates ((KGN)) as Buy (1) –<\/p>\n
Canaccord Genuity's FY22-24 earnings (EBITDA) forecasts have been lowered by -26%, -16% and -15%, respectively, driven primarily by a higher marketing spend. This spend is thought designed to accelerate the Kogan First membership program.<\/p>\n
Management plans to increase this program to 1m people, which the analyst estimates represents a more than $50m subscription revenue opportunity, at high gross profit margins.<\/p>\n
If achieved, the target will deliver a sustainable competitive advantage versus peers, explains the broker. The Buy rating is unchanged and the target price is decreased to $12.50 from $14.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $12.50<\/strong> Current Price is $7.99 <\/strong> Difference: $4.51<\/strong>
If KGN<\/strong> meets the Canaccord Genuity target it will return approximately 56%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 12.00<\/strong> cents and EPS of 25.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.50%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.96<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 17.00<\/strong> cents and EPS of 34.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.13%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.50<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.5<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
NWH<\/a>    NRW HOLDINGS LIMITED<\/h2>\n
Mining Sector Contracting – Overnight Price: $1.75 <\/strong><\/p>\n
Canaccord Genuity rates ((NWH)) as Buy (1) –<\/p>\n
Cannaccord Genuity assumes earnings (EBIT) margins have been stronger than anticipated, after NRW Holdings announced it was heading towards the top-end of guidance.<\/p>\n
The analyst likes the company's low capital intensity by comparison with mining services peers, and notes a tender pipeline that has increased by 33% in the last few months.<\/p>\n
The Buy rating is unchanged and the target price increases to $2.48 from $2.44.<\/p>\n
This report was published on November 26, 2021. <\/p>\n
Target price is $2.48<\/strong> Current Price is $1.75 <\/strong> Difference: $0.73<\/strong>
If NWH<\/strong> meets the Canaccord Genuity target it will return approximately 42%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 11.50<\/strong> cents and EPS of 22.30<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.57%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.85<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 12.70<\/strong> cents and EPS of 24.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 7.26%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.06<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
PBP<\/a>    PROBIOTEC LIMITED<\/h2>\n
Pharmaceuticals & Biotech\/Lifesciences – Overnight Price: $2.14 <\/strong><\/p>\n
Shaw and Partners rates ((PBP)) as Buy (1) –<\/p>\n
Following a positive AGM trading update by Probiotec, Shaw and Partners sees upside risk into FY22. Implied 1H earnings (EBITDA), based on the current run-rate, exceeds the analyst's expectations.<\/p>\n
Due to easing restrictions and high vaccination rates, the broker expects a normalised pharmacy\/cold and flu season. There's expected to be further contract win announcements from on-shoring of critical manufacturing of drugs.<\/p>\n
Management has indicated potential site consolidation across larger packing assets in NSW, and the analyst feels materially reduced costs may arise from efficiencies and automation.<\/p>\n
Shaw and Partners retains its Buy rating and $2.90 target price.<\/p>\n
The report was published on November 25, 2021.<\/p>\n
Target price is $2.90<\/strong> Current Price is $2.14 <\/strong> Difference: $0.76<\/strong>
If PBP<\/strong> meets the Shaw and Partners target it will return approximately 36%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 7.90<\/strong> cents and EPS of 17.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.69%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.23<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 8.30<\/strong> cents and EPS of 18.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.88%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.57<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
PGL<\/a>    PROSPA GROUP LIMITED<\/h2>\n
Diversified Financials – Overnight Price: $0.81 <\/strong><\/p>\n
Shaw and Partners rates ((PGL)) as Buy (1) –<\/p>\n
Shaw and Partners believes the worst of covid-19 impacts are behind Prospa Group and notes accelerating momentum is continuing. <\/p>\n
October 2021 SME loan originations rose 84% compared to the previous corresponding period, and the analyst believes this augers well for originations over November and December.<\/p>\n
Shaw and Partners retains its Buy rating and $1.50 target price.<\/p>\n
The report was published on November 25, 2021.<\/p>\n
Target price is $1.50<\/strong> Current Price is $0.81 <\/strong> Difference: $0.69<\/strong>
If PGL<\/strong> meets the Shaw and Partners target it will return approximately 85%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 3.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 23.82<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.80<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 45.00<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
PLY<\/a>    PLAYSIDE STUDIOS LIMITED<\/h2>\n
Gaming – Overnight Price: $0.84 <\/strong><\/p>\n
Canaccord Genuity rates ((PLY)) as Buy (1) –<\/p>\n
Playside Studios has been awarded a more than $10m deal by 2K Games for the development of an upcoming franchise in what Canaccord Genuity notes is the company's largest work-for-hire deal since listing. <\/p>\n
Development work will take place over 23 months, with an additional 12 month maintenance window following release, and is expected to start in coming weeks. Revenue forecasts are increased 14% each for FY22 and FY23.<\/p>\n
The Buy rating is retained and the target price increases to $1.00 from $0.80.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $1.00<\/strong> Current Price is $0.84 <\/strong> Difference: $0.16<\/strong>
If PLY<\/strong> meets the Canaccord Genuity target it will return approximately 19%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 0.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 210.00<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 168.00<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
TNE<\/a>    TECHNOLOGY ONE LIMITED<\/h2>\n
IT & Support – Overnight Price: $12.36 <\/strong><\/p>\n
Shaw and Partners rates ((TNE)) as Downgrade to Hold from Buy (3) –<\/p>\n
Following what Shaw and Partners considers was a solid FY21 result for TechnologyOne, the broker lowers its rating to Hold from Buy following a more than 20% share price rally since September.<\/p>\n
The target price rises to $11.75 from $10.00 after the analyst upgrades FY22 gross free cashflow forecasts by 12% and includes the recent Scientia acquisition.<\/p>\n
The broker feels the SaaS annual contract value (ACV) is the key lead revenue indicator, and it is pointing to 43% year-on-year organic growth versus guidance for 35%.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $11.75<\/strong> Current Price is $12.36 <\/strong> Difference: minus $0.61<\/strong> (current price is over target).
If TNE<\/strong> meets the Shaw and Partners target it will return approximately minus 5%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $12.16<\/strong>, suggesting downside of -1.6%<\/strong>(ex-dividends)
The company's fiscal year ends in September.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 14.90<\/strong> cents and EPS of 27.10<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.21%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 45.61<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 26.4<\/strong>, implying annual growth of 16.6%<\/strong>.
Current consensus DPS estimate is 16.2<\/strong>, implying a prospective dividend yield of 1.3%<\/strong>.
Current consensus EPS estimate suggests the PER is 46.8<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 16.00<\/strong> cents and EPS of 30.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.29%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.20<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 29.3<\/strong>, implying annual growth of 11.0%<\/strong>.
Current consensus DPS estimate is 18.6<\/strong>, implying a prospective dividend yield of 1.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 42.2<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: -0.3<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
TRJ<\/a>    TRAJAN GROUP HOLDINGS LIMITED<\/h2>\n
Medical Equipment & Devices – Overnight Price: $3.35 <\/strong><\/p>\n
Canaccord Genuity rates ((TRJ)) as Buy (1) –<\/p>\n
Trajan Group Holdings has flagged a potential earnings guidance upgrade, with Canaccord Genuity noting FY22 revenue and underlying earnings forecasts provided at the initial public listing could be achieved on lower growth given better than expected FY21 results. <\/p>\n
The company also announced the acquisition of Axel Semrau GmbH & Co for EUR14.75m, and highlighted several targeted second acquisitions were at advanced stages. The broker expects the purchase to contribute $14.5m to FY22 revenue, and $23.3m in FY23. <\/p>\n
The Buy rating and target price of $2.86 are retained. <\/p>\n
This report was published on November 24, 2021.<\/p>\n
Target price is $2.86<\/strong> Current Price is $3.35 <\/strong> Difference: minus $0.49<\/strong> (current price is over target).
If TRJ<\/strong> meets the Canaccord Genuity target it will return approximately minus 15%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 6.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 54.03<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 8.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.41<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.5<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
WSP<\/a>    WHISPIR LIMITED<\/h2>\n
Cloud services – Overnight Price: $2.03 <\/strong><\/p>\n
Shaw and Partners rates ((WSP)) as Buy (1) –<\/p>\n
FY22 revenue is now expected by Shaw and Partners to be 12-13% higher, following a guidance upgrade by Whispir. The operating earnings (EBITDA) loss is expected to be between -$11.2m and -$13.2m versus -$13m to -$15.5m previously.<\/p>\n
Even if the delivery of some communications were covid-specific, the broker explains the first transaction with a customer is often a precursor to a longer\/wider relationship.<\/p>\n
Among a mere 15 reasons to hold the stock, the analyst cites leverage to attractive enterprise verticals and existing customer growth, which has been proven over time. Moreover, the low churn of 2.3% is considered a standout.<\/p>\n
Shaw reiterates its Buy rating with a $4.85 price target, up from $4.75 prior.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $4.85<\/strong> Current Price is $2.03 <\/strong> Difference: $2.82<\/strong>
If WSP<\/strong> meets the Shaw and Partners target it will return approximately 139%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 17.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.80<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 18.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.91<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
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Wilsons rates ((WSP)) as Overweight (1) –<\/p>\n
Following guidance upgrades from Whispir, Wilsons has increased FY22 revenue and underlying earnings forecasts 11% and 15% respectively, but notes no upgrade to annual recurring revenue suggests benefit will largely only impact FY22.<\/p>\n
The Overweight rating and target price of $4.84 are retained.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $4.84<\/strong> Current Price is $2.03 <\/strong> Difference: $2.81<\/strong>
If WSP<\/strong> meets the Wilsons target it will return approximately 138%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 13.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 15.15<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 10.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 19.90<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
Z2U<\/a>    ZOOM2U TECHNOLOGIES LIMITED<\/h2>\n
Overnight Price: $0.43 <\/strong><\/p>\n
Shaw and Partners rates ((Z2U)) as Initiation of coverage with Buy (1) –<\/p>\n
Shaw and Partners initiates coverage on Zoom2U Technologies with a Buy rating and $0.65 target. The delivery services marketplace platform provider operates mainly in Australia, but increasingly also overseas.<\/p>\n
In short, consumers want fast, reliable and transparent last mile delivery of their on-line purchases, explains the broker. The newest product, Locate2u, is a delivery management SaaS product that helps customers manage their own fleets of drivers more efficiently.<\/p>\n
The analyst sees an unique opportunity for the company to grow subscription revenue and likes the early validation from enterprise customers. While not currently profitable, the company is estimated to be fully funded to reach cash-break even in FY25.<\/p>\n
This report was published on November 25, 2021.<\/p>\n
Target price is $0.65<\/strong> Current Price is $0.43 <\/strong> Difference: $0.22<\/strong>
If Z2U<\/strong> meets the Shaw and Partners target it will return approximately 51%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 2.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.92<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 2.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 21.50<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
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Disclaimer:<\/strong>
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.<\/p>\n
As part of emerging new trends overseas, The Australian Broker Call Extra Edition also includes providers of sponsored research. Readers should bear in mind, sponsored research, while not necessarily of lower quality, has the embedded complication that the company that is the subject of the research has paid for this research. Providers of sponsored research that can potentially be included in this Report are Breakaway Research, Edison Investment Research, Independent Investment Research, NDF Research, Pitt Street Research, and TMT Analytics.<\/span><\/span><\/span><\/p>\n
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