##{"id":99378,"date":"2022-02-02T12:06:59","date_gmt":"2022-02-02T01:06:59","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2022\/02\/02\/australian-broker-call-extra-edition-feb-02-2022\/"},"modified":"2022-02-02T12:06:59","modified_gmt":"2022-02-02T01:06:59","slug":"australian-broker-call-extra-edition-feb-02-2022","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/02\/02\/australian-broker-call-extra-edition-feb-02-2022\/","title":{"rendered":"Australian Broker Call *Extra* Edition – Feb 02, 2022"},"content":{"rendered":"

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

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

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

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

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

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

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

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

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

ABR<\/a> ASM<\/a> CDA<\/a> CIA<\/a> CYG<\/a> GMA<\/a> KGN<\/a> LME<\/a> LPD<\/a> MHJ<\/a> PBH<\/a> RSG<\/a> TWE<\/a> TYR<\/a> Z1P<\/a> <\/p>\n

ABR<\/a>    AMERICAN PACIFIC BORATES LIMITED<\/h2>\n
Industrial Metals – Overnight Price: $2.31 <\/strong><\/p>\n
Petra Capital rates ((ABR)) as Buy (1) –<\/p>\n
Petra Capital believes the attractiveness of American Pacific Borates' Fort Cady Borate Project has been enhanced after the Serbian government revoked Rio Tinto’s ((RIO)) licences to develop the Jadar Lithium-Boron Project.<\/p>\n
The revocation is likely to exacerbate an already tight global boron supply\/demand balance, according to the analyst.<\/p>\n
American Pacific Borates is soon to be renamed 5E Advanced Materials, when it completes a US direct listing in February. <\/p>\n
Petra Capital retains its Buy rating and $2.77 target price.<\/p>\n
This report was published on January 25, 2022.<\/p>\n
Target price is $2.77<\/strong> Current Price is $2.31 <\/strong> Difference: $0.46<\/strong>
If ABR<\/strong> meets the Petra Capital target it will return approximately 20%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Petra Capital forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 154.00<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Petra Capital forecasts a full year FY23<\/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 192.50<\/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
ASM<\/a>    AUSTRALIAN STRATEGIC MATERIALS LIMITED<\/h2>\n
Rare Earth Minerals – Overnight Price: $8.79 <\/strong><\/p>\n
Petra Capital rates ((ASM)) as Upgrade to Buy from Hold (1) –<\/p>\n
While Petra Capital makes no forecast earnings changes for Australian Strategic Materials, the broker upgrades its rating to Buy from Hold following recent share price weakness. The target price is set at $10.98.<\/p>\n
The analyst notes a consortium, which aims to find a stragic investor to partner with the company, has successfully completed due diligence on the flagship Dubbo Mining Project. The project is yet to be built.<\/p>\n
Petra Capital points out macro tailwinds continue with neodymium-praseodymium (NdPr) prices increasing by 45% in the December quarter, following a 26% rise in the September quarter.<\/p>\n
This report was published on February 2, 2022.<\/p>\n
Target price is $10.98<\/strong> Current Price is $8.79 <\/strong> Difference: $2.19<\/strong>
If ASM<\/strong> meets the Petra Capital target it will return approximately 25%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Petra Capital forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 3.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 225.38<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Petra Capital forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 10.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 84.52<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CDA<\/a>    CODAN LIMITED<\/h2>\n
Hardware & Equipment – Overnight Price: $9.39 <\/strong><\/p>\n
Moelis rates ((CDA)) as Buy (1) –<\/p>\n
Ahead of the release of Codan's first half results, Moelis notes guidance for profit after tax of around $50m is in line with expectations. The broker notes this represents a $9m increase on the previous comparable period, and expects benefit was largely driven by recent acquisitions. <\/p>\n
The company commented both DTC and Zetron exceeded first half profit expectations. Moelis suggests investors should expect a slight second half weighting as Codan delivers its large military contract and seasonal metal detection tailwinds provide benefit.<\/p>\n
The Buy rating is retained and the target price decreases to $13.43 from $15.92.<\/p>\n
This report was published on January 26, 2022.<\/p>\n
Target price is $13.43<\/strong> Current Price is $9.39 <\/strong> Difference: $4.04<\/strong>
If CDA<\/strong> meets the Moelis target it will return approximately 43%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY22<\/strong> dividend of 32.80<\/strong> cents and EPS of 59.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.49%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.73<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY23<\/strong> dividend of 35.00<\/strong> cents and EPS of 63.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.73%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.74<\/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
CIA<\/a>    CHAMPION IRON LIMITED<\/h2>\n
Iron Ore – Overnight Price: $6.34 <\/strong><\/p>\n
Goldman Sachs rates ((CIA)) as Buy (1) –<\/p>\n
Higher than anticipated iron ore prices and lower unit costs drove Champion Iron to deliver 40% uplift to Goldman Sachs' December quarter earnings forecast. Results drove improved cash flow, and the company announced a CAD10 cents per share inaugural dividend. <\/p>\n
Given a tight market, ongoing supply constraints and a bounce in iron spot pricing in the March quarter, Champion Iron looks set to continue to benefit, suggests the broker.<\/p>\n
First production from the Bloom Lake expansion, which aims to double production, is expected in April, with commercial production achieved by end of 2022 and two feasibility studies for further expansion expected in mid- and late-2022 respectively. <\/p>\n
The Buy rating is retained and the target price increases to $7.10 from $6.70. <\/p>\n
This report was published on January 27, 2022.<\/p>\n
Target price is $7.10<\/strong> Current Price is $6.34 <\/strong> Difference: $0.76<\/strong>
If CIA<\/strong> meets the Goldman Sachs target it will return approximately 12%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in March.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Goldman Sachs forecasts a full year FY22<\/strong> dividend of 10.69<\/strong> cents and EPS of 101.56<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.69%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.24<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Goldman Sachs forecasts a full year FY23<\/strong> dividend of 33.03<\/strong> cents and EPS of 72.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.21%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.72<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in CAD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
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
CYG<\/a>    COVENTRY GROUP LIMITED<\/h2>\n
Hardware & Equipment – Overnight Price: $1.75 <\/strong><\/p>\n
Shaw and Partners rates ((CYG)) as Buy (1) –<\/p>\n
Ahead of the release of full first half results Shaw and Partners notes Coventry Group has continued its trend of above expectation top line growth in the first half, with revenue growth of 13.6% beating an expected 11.3% during a period of tough operating conditions. <\/p>\n
Restrictions in Auckland, New South Wales and Victoria drove an estimated -$2.5-3.5m sales impact, but a focus on above normal inventory to counter supply chain and labour constraints and price inflation continues, likely buying share from less proactive peers. <\/p>\n
Earnings per share forecasts increase 5.0%, 4.6% and 4.2% through to FY24 as earnings improvement through ongoing turnaround continues. <\/p>\n
The Buy rating is retained and the target price increases to $2.33 from $2.00.<\/p>\n
This report was published on January 21, 2022.<\/p>\n
Target price is $2.33<\/strong> Current Price is $1.75 <\/strong> Difference: $0.58<\/strong>
If CYG<\/strong> meets the Shaw and Partners target it will return approximately 33%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 6.00<\/strong> cents and EPS of 11.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.43%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.09<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 8.00<\/strong> cents and EPS of 16.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.57%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.94<\/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
GMA<\/a>    GENWORTH MORTGAGE INSURANCE AUSTRALIA LIMITED<\/h2>\n
Banks – Overnight Price: $2.48 <\/strong><\/p>\n
Goldman Sachs rates ((GMA)) as Buy (1) –<\/p>\n
Genworth Mortgage Insurance Australia will remain Commonwealth Bank's ((CBA)) exclusive lenders mortgage insurance provider, with Goldman Sachs noting the new contract will be for a three year period commencing January 2023.<\/p>\n
While the broker previously noted a loss of the contract would drive only a small valuation impact, it highlights today that confirmation of the contract reaffirms earnings outlook, supports company strategy, and offers portfolio return on investment.<\/p>\n
The Buy rating and target price of $3.29 are retained. <\/p>\n
This report was published on January 27, 2022.<\/p>\n
Target price is $3.29<\/strong> Current Price is $2.48 <\/strong> Difference: $0.81<\/strong>
If GMA<\/strong> meets the Goldman Sachs target it will return approximately 33%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Goldman Sachs forecasts a full year FY21<\/strong> dividend of 16.00<\/strong> cents and EPS of 41.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.45%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.05<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Goldman Sachs forecasts a full year FY22<\/strong> dividend of 34.00<\/strong> cents and EPS of 44.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 13.71%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.64<\/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
KGN<\/a>    KOGAN.COM LIMITED<\/h2>\n
Retailing – Overnight Price: $6.38 <\/strong><\/p>\n
Jarden rates ((KGN)) as Sell (5) –<\/p>\n
In an early look at first half results, Kogan.com achieved gross sales growth of 9.4%. While a deceleration of the 21% first quarter growth, results are in line with Jarden's expectations and slower growth is attributed to a decline in lockdown-driven online retail benefits.<\/p>\n
The update also highlighted continuing cost pressure for the company, with supply chain disruptions and elevated costs impacting on earnings. Jarden finds the earnings outlook uncertain, and notes Australian online retail competition continues to intensify. <\/p>\n
The Underweight rating and target price of $8.86 are retained.<\/p>\n
This report was published on January 27, 2022.<\/p>\n
Target price is $8.86<\/strong> Current Price is $6.38 <\/strong> Difference: $2.48<\/strong>
If KGN<\/strong> meets the Jarden target it will return approximately 39%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 17.10<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 37.31<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 16.00<\/strong> cents and EPS of 27.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.51%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.20<\/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
LME<\/a>    LIMEADE, INC<\/h2>\n
Cloud services – Overnight Price: $0.43 <\/strong><\/p>\n
Moelis rates ((LME)) as Buy (1) –<\/p>\n
In the wake of Limeade's 4Q update, Moelis lowers estimated 2022 sales to reflect a lower estimates for contracted annual recurring revenue (CARR) and forecast net revenue retention (NRR).<\/p>\n
FY21 guidance was maintained and despite challenging conditions, commentary centred on signs of returning customer demand.<\/p>\n
The Buy rating is retained, while the target price falls to $0.79 from $1.14.<\/p>\n
This report was published on January 24, 2022.<\/p>\n
Target price is $0.79<\/strong> Current Price is $0.43 <\/strong> Difference: $0.36<\/strong>
If LME<\/strong> meets the Moelis target it will return approximately 84%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 4.15<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.36<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 4.69<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.17<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
LPD<\/a>    LEPIDICO LIMITED<\/h2>\n
New Battery Elements – Overnight Price: $0.04 <\/strong><\/p>\n
Shaw and Partners rates ((LPD)) as Buy (1) –<\/p>\n
On spot lithium pricing of over US$30,000 per tonne Shaw and Partners notes its valuation on Lepidico could increase to 13.5 cents per share, but although lithium pricing is likely to remain elevated given high demand the broker expects current pricing is not sustainable.<\/p>\n
The company has signed a binding offtake agreement with Traxys for 100% of its lithium and caesium sulphate production, sourced from mica minerals in a what is a new source of lithium supply. <\/p>\n
Spot pricing, licensing agreements and a phase 2 plant all offer upside to the broker's currently conservative valuation. <\/p>\n
The Buy rating and target price of 5.7 cents are retained.<\/p>\n
This report was published on January 21, 2022.<\/p>\n
Target price is $0.06<\/strong> Current Price is $0.04 <\/strong> Difference: $0.017<\/strong>
If LPD<\/strong> meets the Shaw and Partners target it will return approximately 43%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 0.10<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 40.00<\/strong>.<\/p>\n<\/blockquote>\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 0.10<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 40.00<\/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
MHJ<\/a>    MICHAEL HILL INTERNATIONAL LIMITED<\/h2>\n
Luxury – Overnight Price: $1.39 <\/strong><\/p>\n
Jarden rates ((MHJ)) as Downgrade to Overweight from Buy (2) –<\/p>\n
Michael Hill International achieved a sixth consecutive period of same store sales growth in the second quarter and Jarden is forecasting the company to achieve full year revenue of $595.2m, representing a 3.4% beat on its previous best revenue result. <\/p>\n
The broker highlights this result looks achievable even against a backdrop of lockdown restrictions and a -7% smaller store base, and is testament to a focus on store productivity improvement. Earnings per share forecasts increase 47%, 24% and 33% through to FY24. <\/p>\n
The rating is downgraded to Overweight from Buy and the target price increases to NZ$1.45 from NZ$1.15.<\/p>\n
This report was published on January 25, 2022.<\/p>\n
Current Price is $1.39<\/strong>. Target price not assessed.
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 8.50<\/strong> cents and EPS of 12.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.12%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.58<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 8.50<\/strong> cents and EPS of 11.20<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.12%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.41<\/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
PBH<\/a>    POINTSBET HOLDINGS LIMITED<\/h2>\n
Gaming – Overnight Price: $5.17 <\/strong><\/p>\n
JP Morgan rates ((PBH)) as Downgrade to Underweight from Neutral (5) –<\/p>\n
JP Morgan is concerned about losses associated with PointsBet Holdings entering 12 additional states this year.<\/p>\n
The rating is lowered to Underweight from Neutral, while the price target falls to $5 from $9. Ongoing and increased competition is also anticipated.<\/p>\n
Customer growth will come at a significant cost, and the analyst notes the likelihood of a capital raising later in the year. <\/p>\n
This report was published on January 25, 2022.<\/p>\n
Target price is $5.00<\/strong> Current Price is $5.17 <\/strong> Difference: minus $0.17<\/strong> (current price is over target).
If PBH<\/strong> meets the JP Morgan target it will return approximately minus 3%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
JP Morgan forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 60.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.62<\/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 minus 55.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.40<\/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
RSG<\/a>    RESOLUTE MINING LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $0.28 <\/strong><\/p>\n
Goldman Sachs rates ((RSG)) as Buy (1) –<\/p>\n
Resolute Mining's 4Q gold production was a 3% beat versus Goldman Sachs' estimate and a -4% miss compared to the consensus forecast.<\/p>\n
Production was driven by better grades at Mako in West Arfica and Syama Oxide processing plant in Mali, offsetting lower throughput at Syama Sulphide processing plant due to maintenance.<\/p>\n
FY22 guidance for gold production and all in sustaining costs (AISC) were a 4% beat and -16% miss, respectively, on the broker's estimates. The target price eases by -8% to $0.60. The Buy rating is unchanged as valuation is considered compelling. <\/p>\n
This report was published on January 24, 2022.<\/p>\n
Target price is $0.60<\/strong> Current Price is $0.28 <\/strong> Difference: $0.32<\/strong>
If RSG<\/strong> meets the Goldman Sachs target it will return approximately 114%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Goldman Sachs forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 4.29<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.53<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Goldman Sachs forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.54<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 52.24<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
TWE<\/a>    TREASURY WINE ESTATES LIMITED<\/h2>\n
Food, Beverages & Tobacco – Overnight Price: $10.81 <\/strong><\/p>\n
Jarden rates ((TWE)) as Upgrade to Overweight from Neutral (2) –<\/p>\n
With global wine supply and demand dynamics at their most favourable in more than five years, as well as company pricing power and high margins, Jarden finds Treasury Wine Estates well positioned to outperform relatively low market expectations. <\/p>\n
While the broker notes some near-term risk relating to supply chain constraint in the second half, it likes the company's premium portfolio skew and focus on in-country China expansion and investment. <\/p>\n
The rating is upgraded to Overweight from Neutral and the target price increases to $12.70 from $11.60.<\/p>\n
This report was published on January 27, 2022.<\/p>\n
Target price is $12.70<\/strong> Current Price is $10.81 <\/strong> Difference: $1.89<\/strong>
If TWE<\/strong> meets the Jarden target it will return approximately 17%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $13.45<\/strong>, suggesting upside of 24.4%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 30.00<\/strong> cents and EPS of 45.10<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.78%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.97<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 44.2<\/strong>, implying annual growth of 27.5%<\/strong>.
Current consensus DPS estimate is 27.8<\/strong>, implying a prospective dividend yield of 2.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 24.5<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 34.00<\/strong> cents and EPS of 56.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.15%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.10<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 54.3<\/strong>, implying annual growth of 22.9%<\/strong>.
Current consensus DPS estimate is 34.3<\/strong>, implying a prospective dividend yield of 3.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.9<\/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
TYR<\/a>    TYRO PAYMENTS LIMITED<\/h2>\n
Business & Consumer Credit – Overnight Price: $2.27 <\/strong><\/p>\n
Wilsons rates ((TYR)) as Initiation of coverage with Overweight (1) –<\/p>\n
Wilsons initiates coverage on Tyro Payments, Australia’s fifth largest merchant acquirer by terminal count, with an Overweight rating and $3.03 target price.<\/p>\n
The broker feels the company has built an entrenched market position by focusing for the last 20 years on the small-to-medium business\/enterprise market, which the major banks have ignored.<\/p>\n
The company is concentrated on the sectors of Health, Hospitality, Retail, and Services\/Other that are likely to experience accelerated growth rates after lockdowns, suggest the analysts.<\/p>\n
Negative regulatory changes to Australian Payments is an ever-present risk noted by Wilsons.<\/p>\n
This report was published on January 25, 2022.<\/p>\n
Target price is $3.03<\/strong> Current Price is $2.27 <\/strong> Difference: $0.76<\/strong>
If TYR<\/strong> meets the Wilsons target it will return approximately 33%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.13<\/strong>, suggesting upside of 81.7%<\/strong>(ex-dividends)
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 2.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 78.28<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is -1.5<\/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 N\/A<\/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 0.80<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 283.75<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 0.9<\/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 252.2<\/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
Z1P<\/a>    ZIP CO LIMITED<\/h2>\n
Business & Consumer Credit – Overnight Price: $3.31 <\/strong><\/p>\n
Shaw and Partners rates ((Z1P)) as Buy (1) –<\/p>\n
Following another quarter of growth across all metrics, Shaw and Partners notes Zip Co has closed out the first half with an annualised transaction value record of $11bn representing a 30% quarter-on-quarter increase. <\/p>\n
Shaw and Partners reduces revenue forecasts -2% in FY22 and FY23, accounting for reduced average spending and the cost of further market expansion. The target price is decreased amid sector consolidation and competition, in line with sector wide multiples declines. <\/p>\n
The Buy rating is retained and the target price decreased -30% to $11.25. <\/p>\n
This report was published on January 21, 2022.<\/p>\n
Target price is $11.25<\/strong> Current Price is $3.31 <\/strong> Difference: $7.94<\/strong>
If Z1P<\/strong> meets the Shaw and Partners target it will return approximately 240%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $5.16<\/strong>, suggesting upside of 59.2%<\/strong>(ex-dividends)
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 10.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 31.23<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is -24.7<\/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 N\/A<\/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 1.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 275.83<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is -11.1<\/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 N\/A<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.1<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
\n
Disclaimer:<\/strong>
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.<\/p>\n
As part of emerging new trends overseas, The Australian Broker Call Extra Edition also includes providers of sponsored research. Readers should bear in mind, sponsored research, while not necessarily of lower quality, has the embedded complication that the company that is the subject of the research has paid for this research. Providers of sponsored research that can potentially be included in this Report are Breakaway Research, Edison Investment Research, Independent Investment Research, NDF Research, Pitt Street Research, and TMT Analytics.<\/span><\/span><\/span><\/p>\n
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
Extra Edition of the Broker Call Report<\/p>\n","protected":false},"author":3,"featured_media":99379,"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\/99378"}],"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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=99378"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/99378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media\/99379"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=99378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=99378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=99378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}