Australian Broker Call
October 30, 2017
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COMPANIES DISCUSSED IN THIS ISSUE
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Last Updated: 11:41 AM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, 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.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
| ISD - | ISENTIA | Downgrade to Underperform from Neutral | Macquarie |
| MQG - | MACQUARIE GROUP | Upgrade to Outperform from Neutral | Credit Suisse |
| ORE - | OROCOBRE | Upgrade to Buy from Neutral | Citi |
| Upgrade to Neutral from Underperform | Macquarie |
Citi rates AMP as Neutral (3) -
September quarter flows were subdued but in line with Citi's expectations. The broker suspects the stock will remain in limbo until there is further clarity on the growth strategy.
The company has confirmed it expects a second program of reinsurance agreements will lead to the release of $500m in capital. Citi suggests this could lead to a partial resumption of the buyback.
Neutral rating and $5.60 target retained.
Target price is $5.60 Current Price is $4.96 Difference: $0.64
If AMP meets the Citi target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $5.54, suggesting upside of 11.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 29.50 cents and EPS of 34.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.7, implying annual growth of N/A. Current consensus DPS estimate is 28.7, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 31.00 cents and EPS of 35.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.3, implying annual growth of 4.7%. Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 14.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates AMP as Outperform (1) -
September quarter cash flows were observed to be similar to those trends seen across the industry, given a significant slowdown post the favourable June quarter in the lead up to the changes to non-concessional caps.
Credit Suisse believes the company should be able to focus on the business now without distractions and remains supportive of the strategy, believing value will eventually be realised.
Rating is Outperform.Target is $5.60.
Target price is $5.60 Current Price is $4.96 Difference: $0.64
If AMP meets the Credit Suisse target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $5.54, suggesting upside of 11.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 28.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.7, implying annual growth of N/A. Current consensus DPS estimate is 28.7, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 29.00 cents and EPS of 33.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.3, implying annual growth of 4.7%. Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 14.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates AMP as Hold (3) -
September quarter cash flows indicated a normalisation versus the prior quarter. Deutsche Bank notes the company is guiding to 5% compression in margins this year, in line with expectations.
The broker reduces forecasts by around -1% to reflect a slightly lower level of assets-under-management growth in the quarter. Target reduced to $5.30 from $5.40. Hold retained..
Target price is $5.30 Current Price is $4.96 Difference: $0.34
If AMP meets the Deutsche Bank target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $5.54, suggesting upside of 11.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 29.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.7, implying annual growth of N/A. Current consensus DPS estimate is 28.7, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 29.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.3, implying annual growth of 4.7%. Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 14.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AMP as Neutral (3) -
AMP's Sep Q numbers showed further outflows in Wealth Management while AMP Capital benefited from Asian demand and interest in real estate and infrastructure. The stock appears good value but four of six divisions remain challenged, the broker notes.
Short of another buyback, the broker sees few organic catalysts ahead. Neutral and $5.40 target retained.
Target price is $5.40 Current Price is $4.96 Difference: $0.44
If AMP meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $5.54, suggesting upside of 11.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 28.50 cents and EPS of 34.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.7, implying annual growth of N/A. Current consensus DPS estimate is 28.7, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 28.00 cents and EPS of 35.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.3, implying annual growth of 4.7%. Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 14.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates AMP as Add (1) -
While wealth management cash outflows were a little soft, Morgans suspects these were affected by recent changes to superannuation regulations.
While there remains much work to be done to justify re-rating, the broker maintains an Add rating on valuation. Target is raised to $5.78 from $5.76.
Target price is $5.78 Current Price is $4.96 Difference: $0.82
If AMP meets the Morgans target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $5.54, suggesting upside of 11.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 28.30 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.7, implying annual growth of N/A. Current consensus DPS estimate is 28.7, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 28.60 cents and EPS of 35.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.3, implying annual growth of 4.7%. Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 14.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates AMP as Accumulate (2) -
The company has indicated the overall business is tracking in line with guidance. Ord Minnett believes AMP was adversely affected by markets growing at less than normalised assumptions.
An Accumulate rating is maintained. Target is reduced to $5.70 from $5.80.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $5.70 Current Price is $4.96 Difference: $0.74
If AMP meets the Ord Minnett target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $5.54, suggesting upside of 11.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 28.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.7, implying annual growth of N/A. Current consensus DPS estimate is 28.7, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 29.00 cents and EPS of 33.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.3, implying annual growth of 4.7%. Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 14.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates AMP as Neutral (3) -
September quarter updates revealed little that was negative, reassuring UBS. Still, the broker finds it hard to describe the quarter as "good".
In the broker's opinion the wealth management business, 40% of profit, needs to be performing better to justify a more positive view.
Neutral rating and $5.30 target retained.
Target price is $5.30 Current Price is $4.96 Difference: $0.34
If AMP meets the UBS target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $5.54, suggesting upside of 11.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 29.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.7, implying annual growth of N/A. Current consensus DPS estimate is 28.7, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 30.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.3, implying annual growth of 4.7%. Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 14.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ANZ as Neutral (3) -
FY17 result was soft, UBS observes.The broker believes the decision to re-balance away from Asian institutional banking is prudent given the lower returns.
Still, UBS is concerned that the bank is re-focusing on an increasingly challenging Australasian environment. The broker questions whether a strategy of superior execution is sustainable, given the bank's weaker domestic franchise.
Neutral and $30.50 target retained.
Target price is $30.50 Current Price is $29.84 Difference: $0.66
If ANZ meets the UBS target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $30.50, suggesting upside of 1.8% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 160.00 cents and EPS of 228.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 234.0, implying annual growth of 6.3%. Current consensus DPS estimate is 160.6, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 12.8. |
Forecast for FY19:
UBS forecasts a full year FY19 EPS of 234.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 241.3, implying annual growth of 3.1%. Current consensus DPS estimate is 163.2, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 12.4. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AYS as Outperform (1) -
Amaysim's AGM featured a fairly benign trading update, the broker suggests. The major news was a planned shift into low-end mobile plans.
Appealing to the more price-sensitive part of the market may boost subscribers, the broker notes, but may be offset by lower revenue per user. There could be value if the company can cross-sell energy and broadband services to low-end customers.
The broker retains Outperform and a $2.35 target.
Target price is $2.35 Current Price is $1.95 Difference: $0.4
If AYS meets the Macquarie target it will return approximately 21% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 13.10 cents and EPS of 17.50 cents. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 15.60 cents and EPS of 20.80 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates CHC as Hold (3) -
Ord Minnett forecasts higher cash balances, a reduced need for external equity and higher earnings as well as sustainable distribution growth. The broker expects positive earnings revisions for FY18.
Based on expectations that cap rates will remain unchanged and growth in assets under management moderates, Ord Minnett raises the target to $6.30 from $5.60 and upgrades to Accumulate from Hold.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $6.30 Current Price is $5.68 Difference: $0.62
If CHC meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $5.84, suggesting upside of 0.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 32.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.8, implying annual growth of -39.9%. Current consensus DPS estimate is 31.7, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 15.7. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 33.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.5, implying annual growth of 4.6%. Current consensus DPS estimate is 33.6, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 15.0. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates CLQ as Outperform (1) -
CleanTeq has revealed a five year agreement with a Chinese company for 20% of planned cobalt/nickel sulphate production at Syerston. More deals are likely to follow, the broker believes, before construction begins.
A recent update suggests higher grades of cobalt than first assumed. Outperform and $2.10 target retained.
Target price is $2.10 Current Price is $1.37 Difference: $0.735
If CLQ meets the Macquarie target it will return approximately 54% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 2.60 cents. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 0.00 cents and EPS of minus 1.80 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates GWA as Hold (3) -
The company did not provide quantitative guidance for FY18 at its AGM but noted first quarter sales and earnings were in line with the prior corresponding quarter.
A further update will be provided at the first half results in February. While residential construction is expected to slow Deutsche Bank observes the lag between approvals and completion supports continued demand.
The commercial forward order book remains solid. The broker retains a Hold rating and $3.22 target.
Target price is $3.22 Current Price is $2.59 Difference: $0.63
If GWA meets the Deutsche Bank target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $2.81, suggesting upside of 7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 17.00 cents and EPS of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.5, implying annual growth of -4.1%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 13.4. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 17.00 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.8, implying annual growth of -3.6%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 13.9. |
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates HIG as Add (1) -
After a record June quarter the September production outcome reflected planned shutdown for maintenance of one of the three trains.
Morgans observes exploration continues in the Star Mountains, where Anglo American has earned the right to an 80% interest by funding exploration and evaluation of copper gold porphyry targets through to a definitive feasibility study.
Add rating retained. Target is $0.22.
Target price is $0.22 Current Price is $0.07 Difference: $0.147
If HIG meets the Morgans target it will return approximately 201% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 0.70 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 0.50 cents. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates ILU as Neutral (3) -
Credit Suisse notes production was affected in the September quarter by a plant shutdown while unit costs guidance remains on track.
While the broker finds plenty to like about the stock and the mineral sands market, it believes the price reflects this. There is limited upside to valuation so Credit Suisse retains a Neutral rating. Target is raised to $9.90 from $9.85.
Target price is $9.90 Current Price is $9.62 Difference: $0.28
If ILU meets the Credit Suisse target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $9.34, suggesting downside of -2.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 12.00 cents and EPS of 20.64 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.5, implying annual growth of N/A. Current consensus DPS estimate is 15.1, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 51.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 0.00 cents and EPS of 69.13 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.8, implying annual growth of 163.8%. Current consensus DPS estimate is 11.6, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 19.7. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ILU as Underperform (5) -
Iluka had a mixed Sep Q, with zircon/rutile production 3% higher than the broker's forecast but shipments -10% below. Realised pricing and cash flow were slight beats.
Securing offtake contracts to allow Cataby to proceed is the key catalyst for the company at present, and the broker is surprised how long this is taking given apparent strong demand for quality titanium. Underperform retained.
Target rises to $7.50 from $7.30.
Target price is $7.50 Current Price is $9.62 Difference: minus $2.12 (current price is over target).
If ILU meets the Macquarie target it will return approximately minus 22% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.34, suggesting downside of -2.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 21.00 cents and EPS of 25.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.5, implying annual growth of N/A. Current consensus DPS estimate is 15.1, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 51.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 9.00 cents and EPS of 37.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.8, implying annual growth of 163.8%. Current consensus DPS estimate is 11.6, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 19.7. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ILU as Buy (1) -
Production in the September quarter was ahead of UBS estimates. Guidance is unchanged. The company has already produced 83% of its guided production.
Slightly stronger pricing and volumes have lifted the broker's 2017 underlying earnings estimates by 8%.
Buy retained. Target is $11.00.
Target price is $11.00 Current Price is $9.62 Difference: $1.38
If ILU meets the UBS target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $9.34, suggesting downside of -2.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 15.00 cents and EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.5, implying annual growth of N/A. Current consensus DPS estimate is 15.1, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 51.9. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 12.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.8, implying annual growth of 163.8%. Current consensus DPS estimate is 11.6, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 19.7. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates IPL as Equal-weight (3) -
While the share price has increased over the last two months, Morgan Stanley observes it has underperformed relative to key benchmarks.
The broker believes significant investment across nitrogen and phosphate fertiliser capacity means recent price gains are unlikely to be sustained beyond a 2-3-month horizon. Sustained outperformance in the share price is not expected.
The broker retains an Equal-weight rating and Cautious industry view. The target is $3.50.
Target price is $3.50 Current Price is $3.81 Difference: minus $0.31 (current price is over target).
If IPL meets the Morgan Stanley target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.74, suggesting downside of -2.2% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 9.00 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.1, implying annual growth of 138.2%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 13.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.1, implying annual growth of 22.1%. Current consensus DPS estimate is 11.9, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ISD as Downgrade to Underperform from Neutral (5) -
In its fourth successive guidance downgrade, iSentia has reset earnings expectations to $32-36m when Macquarie had $46m. The competitive pressures and structural headwinds facing the company are becoming increasingly apparent, the broker suggests.
At 12.8x forward earnings, iSentia has to provide evidence of a turnaround before Macquarie can justifying buying the stock. Recent price weakness may nevertheless inspire corporate activity. Downgrade to Underperform.
Target falls to 91c from $1.66.
Target price is $0.91 Current Price is $1.05 Difference: minus $0.135 (current price is over target).
If ISD meets the Macquarie target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.04, suggesting downside of -0.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 4.10 cents and EPS of 8.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of N/A. Current consensus DPS estimate is 4.4, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 4.40 cents and EPS of 8.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.2, implying annual growth of 4.5%. Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates JHC as Underweight (5) -
At the AGM update the company has highlighted lower-than-expected occupancy in the September quarter. This is the result of an abnormally severe flu season that resulted in a number of facilities being locked down.
Morgan Stanley suspects the first half FY18 result may be disappointing and poses a risk to meeting guidance for the full year.
Underweight rating retained. Target is $1.60. Industry view is In-Line.
Target price is $1.60 Current Price is $2.01 Difference: minus $0.41 (current price is over target).
If JHC meets the Morgan Stanley target it will return approximately minus 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.93, suggesting downside of -5.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 9.60 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.6, implying annual growth of -5.5%. Current consensus DPS estimate is 10.8, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 19.2. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 10.50 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.2, implying annual growth of 5.7%. Current consensus DPS estimate is 11.6, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates MQG as Sell (5) -
First half cash earnings were ahead of Citi's estimates. A $1bn buyback has also been announced and the broker believes this recognises the challenge in putting new capital to work.
Citi expects more asset realisations to emerge in the next half, with three principal investments poised to cumulatively generate a further $1bn or more of revenue.
Sell rating retained. Target rises to $77.50 from $72.00.
Target price is $77.50 Current Price is $97.91 Difference: minus $20.41 (current price is over target).
If MQG meets the Citi target it will return approximately minus 21% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $96.39, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 485.00 cents and EPS of 695.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 695.5, implying annual growth of 5.8%. Current consensus DPS estimate is 491.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 495.00 cents and EPS of 709.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 715.4, implying annual growth of 2.9%. Current consensus DPS estimate is 506.5, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates MQG as Upgrade to Outperform from Neutral (1) -
Credit Suisse upgrades FY18 earnings estimates by 1% following the first half result. Despite the fact earnings growth was narrowly based, the broker observes profitability continues to improve and the balance sheet is being replenished.
Rating is upgraded to Outperform from Neutral and the target raised to $105 from $100.
Target price is $105.00 Current Price is $97.91 Difference: $7.09
If MQG meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $96.39, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 495.00 cents and EPS of 718.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 695.5, implying annual growth of 5.8%. Current consensus DPS estimate is 491.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 500.00 cents and EPS of 695.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 715.4, implying annual growth of 2.9%. Current consensus DPS estimate is 506.5, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates MQG as Hold (3) -
First half profit surpassed Deutsche Bank's expectations. The broker considers this largely driven by lower quality factors but it was enough to upgrade guidance for FY18 to be slightly higher than FY17.
Another positive was the share buyback, potentially worth up to $1bn. At current levels the broker considers the valuation full.
The broker retains a Hold rating. Target is raised to $94.80 from $89.50.
Target price is $94.80 Current Price is $97.91 Difference: minus $3.11 (current price is over target).
If MQG meets the Deutsche Bank target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $96.39, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 495.00 cents and EPS of 698.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 695.5, implying annual growth of 5.8%. Current consensus DPS estimate is 491.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 510.00 cents and EPS of 703.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 715.4, implying annual growth of 2.9%. Current consensus DPS estimate is 506.5, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates MQG as Equal-weight (3) -
Morgan Stanley raises earnings estimates by 5% to reflect increased confidence in performance fees and modest underlying revenue growth.
The broker observes the stock remains in an earnings upgrade cycle, given a favourable operating environment and unrealised gains across a number of its businesses.
Equal-weight rating and In-Line industry view retained. Target is raised to $100 from $91.
Target price is $100.00 Current Price is $97.91 Difference: $2.09
If MQG meets the Morgan Stanley target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $96.39, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 501.00 cents and EPS of 706.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 695.5, implying annual growth of 5.8%. Current consensus DPS estimate is 491.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 505.00 cents and EPS of 708.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 715.4, implying annual growth of 2.9%. Current consensus DPS estimate is 506.5, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates MQG as Hold (3) -
Morgans lifts FY18 and FY19 estimates for earnings per share by 4-5%. Forecasts now assume Macquarie Group buys back $400m in stock over the next two years.
While the group continues to deliver, Morgans still believes the current cycle is somewhat favourable given the skew towards real asset classes.
Hold rating retained. Target is raised to $97.43 from $93.15.
Target price is $97.43 Current Price is $97.91 Difference: minus $0.48 (current price is over target).
If MQG meets the Morgans target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $96.39, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 460.00 cents and EPS of 697.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 695.5, implying annual growth of 5.8%. Current consensus DPS estimate is 491.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 500.00 cents and EPS of 725.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 715.4, implying annual growth of 2.9%. Current consensus DPS estimate is 506.5, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates MQG as Hold (3) -
First half earnings were ahead of Ord Minnett estimates. While the result may be seen as a relatively low-quality beat, the broker believes it simply reflects the economic and market cycle.
Incorporating revised FY18 guidance, the broker upgrades estimates by an average of 3%. The stock is considered fair value and a Hold rating retained. Target is raised to $95 from $87.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $95.00 Current Price is $97.91 Difference: minus $2.91 (current price is over target).
If MQG meets the Ord Minnett target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $96.39, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 EPS of 645.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 695.5, implying annual growth of 5.8%. Current consensus DPS estimate is 491.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 EPS of 714.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 715.4, implying annual growth of 2.9%. Current consensus DPS estimate is 506.5, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates MQG as Buy (1) -
First half results were strong, with net profit up 19%. UBS observes this was a function of elevated performance fees and operating leverage. The company has approved an on-market buyback of up to $1bn.
The broker notes investors are asking, as the bank once again booked large performance fees, whether these should be considered as one-offs. In the future, the bank is expected to experience more regular asset realisations.
UBS maintains a Buy rating and raises the target to $105 from $91.
Target price is $105.00 Current Price is $97.91 Difference: $7.09
If MQG meets the UBS target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $96.39, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 510.00 cents and EPS of 709.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 695.5, implying annual growth of 5.8%. Current consensus DPS estimate is 491.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 529.00 cents and EPS of 753.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 715.4, implying annual growth of 2.9%. Current consensus DPS estimate is 506.5, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NBL NONI B LIMITED
Apparel & Footwear
Overnight Price: $2.01
Morgans rates NBL as Initiation of coverage with Add (1) -
Morgans observes the recent acquisition of Pretty Girl significantly increases the size of the business in terms of the store footprint, brand offering and scale. This also provides Noni B with a number of growth drivers over time.
Morgans believes there are a number of catalysts including upside to gross margin, further cost reductions and rolling out of stores ahead of forecasts, as well as the third-party jewellery offering.
The broker initiates coverage with Add and a $2.39 target.
Target price is $2.39 Current Price is $2.01 Difference: $0.38
If NBL meets the Morgans target it will return approximately 19% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 11.00 cents and EPS of 19.00 cents. |
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 13.00 cents and EPS of 21.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates OGC as Outperform (1) -
OceanaGold's Sep Q earnings result came in short of the broker but it was all down to shipment timing, and belies the fact the flagship Haile project posted a significantly better performance. Recent exploration results have also been positive.
Outperform and $6.00 target retained. OceanaGold remains the broker's top pick in the sector.
Target price is $6.00 Current Price is $3.62 Difference: $2.38
If OGC meets the Macquarie target it will return approximately 66% (excluding dividends, fees and charges).
Current consensus price target is $4.49, suggesting upside of 25.8% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 1.31 cents and EPS of 39.31 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.9, implying annual growth of N/A. Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 2.62 cents and EPS of 55.04 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.9, implying annual growth of 5.7%. Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 9.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates OGC as Neutral (3) -
UBS believes 2017 has been affected by increased capital expenditure and delays at Haile. The broker also believes the company's sizeable investment in exploration at Waihi will drive increased reserves over the next two years.
The broker finds the risk/reward outlook is balanced and retains a Neutral rating. Target is reduced to $3.70 from $3.96.
Target price is $3.70 Current Price is $3.62 Difference: $0.08
If OGC meets the UBS target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $4.49, suggesting upside of 25.8% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 7.86 cents and EPS of 30.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.9, implying annual growth of N/A. Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 7.86 cents and EPS of 24.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.9, implying annual growth of 5.7%. Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 9.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates ORE as Upgrade to Buy from Neutral (1) -
September quarter production was soft, as expected, although still below Citi's estimates. The cash margin profile is considered to be better and the balance sheet has been de-leveraged.
Along with improving fundamentals in the lithium market, Citi no longer views the stock as high risk and upgrades to Buy from Neutral. Target is raised to $5.50 from $3.90.
Target price is $5.50 Current Price is $4.73 Difference: $0.77
If ORE meets the Citi target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $4.91, suggesting upside of 6.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 0.00 cents and EPS of 12.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of 600.0%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 30.0. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 0.00 cents and EPS of 21.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of 41.6%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates ORE as Buy (1) -
September quarter production was -16% lower than the prior quarter and missed Deutsche Bank's estimates because of lower brine grade and five days of plant maintenance brought forward.
Sales were -19% lower. Realised pricing was up 5%. The company has reiterated production guidance.
Buy and $4.30 target.
Target price is $4.30 Current Price is $4.73 Difference: minus $0.43 (current price is over target).
If ORE meets the Deutsche Bank target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.91, suggesting upside of 6.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 0.00 cents and EPS of 15.82 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of 600.0%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 30.0. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 0.00 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of 41.6%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ORE as Upgrade to Neutral from Underperform (3) -
Orocobre's Sep Q production and sales missed forecasts, driving higher costs. The company has maintained first half production guidance but this would require a record second quarter, Macquarie notes.
A strong October supports guidance, and management is confident costs will fall in FY19 when the CO2 circuit is installed. Before then, better volumes are needed. The share price fall has taken the stock down to where Macquarie sees fair value, hence an upgrade to Neutral.
Target rises to $4.97 from $4.90.
Target price is $4.97 Current Price is $4.73 Difference: $0.24
If ORE meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $4.91, suggesting upside of 6.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of 14.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of 600.0%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 30.0. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 0.00 cents and EPS of 10.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of 41.6%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates ORE as Underweight (5) -
Morgan Stanley notes September quarter production was weak, although FY18 guidance is maintained. The broker notes the ponds audit is complete but the purification circuit is yet to be tested at sustainable nameplate rates.
Morgan Stanley retains an Underweight rating, an Attractive industry view and $3.60 target.
Target price is $3.60 Current Price is $4.73 Difference: minus $1.13 (current price is over target).
If ORE meets the Morgan Stanley target it will return approximately minus 24% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.91, suggesting upside of 6.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of 600.0%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 30.0. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of 41.6%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates ORE as Add (1) -
Production at Olaroz was in line with downwardly-revised guidance. The brine ponds have been confirmed as fit for production.
Morgans adjusts the production profile and projected decline in costs. Add retained. Target is raised to $5.36 from $5.11.
Target price is $5.36 Current Price is $4.73 Difference: $0.63
If ORE meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $4.91, suggesting upside of 6.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 0.00 cents and EPS of 29.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of 600.0%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 30.0. |
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 0.00 cents and EPS of 44.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of 41.6%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ORE as Buy (1) -
Production in the September quarter was slightly below UBS estimates, affected by poor weather conditions, slowing evaporation rates and work on pond re-balancing.
Average realised prices, while up 5%, were -3% behind the broker's forecasts. UBS expects FY18 earnings to decline by -22%, but off a low base.
Buy rating and $5.70 target retained.
Target price is $5.70 Current Price is $4.73 Difference: $0.97
If ORE meets the UBS target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $4.91, suggesting upside of 6.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 0.00 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of 600.0%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 30.0. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 0.00 cents and EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of 41.6%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates QAN as Outperform (1) -
Credit Suisse expects domestic discipline to offset international competition. Capacity discipline in the domestic market is likely to drive higher margins and offset higher fuel costs and competition in international.
The broker notes domestic unit revenue was up 8% in the September quarter on flat demand and -2-3% cuts to capacity. The broker raises estimates for FY19 and FY20 by 11-15%.
Outperform retained. Target is raised to $7.00 from $6.75.
Target price is $7.00 Current Price is $5.96 Difference: $1.04
If QAN meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $6.53, suggesting upside of 7.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 14.00 cents and EPS of 54.37 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.0, implying annual growth of 28.3%. Current consensus DPS estimate is 20.4, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 10.3. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 14.00 cents and EPS of 64.63 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 64.8, implying annual growth of 9.8%. Current consensus DPS estimate is 22.8, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 9.3. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates RMD as Neutral (3) -
September quarter results were ahead of estimates, driven by strong growth in masks in the US and the rest of the world. Flow generator sales were robust but product mix still favoured masks.
Credit Suisse envisages potential upside to forecasts from better operating cost leverage. Neutral retained. Target rises to $10.40 from $9.55.
Target price is $10.40 Current Price is $10.65 Difference: minus $0.25 (current price is over target).
If RMD meets the Credit Suisse target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $10.18, suggesting downside of -6.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 18.74 cents and EPS of 36.73 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.9, implying annual growth of N/A. Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 28.0. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 20.31 cents and EPS of 41.78 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.9, implying annual growth of 12.9%. Current consensus DPS estimate is 19.8, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 24.8. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates RMD as Overweight (1) -
Sales beat Morgan Stanley's estimates for the September quarter. Strength continues in US devices and masks. FY18 gross margin guidance is expected to be similar to the first quarter.
Overweight rating. Industry view is In-Line. Price target is US$77.90.
Current Price is $10.65. Target price not assessed.
Current consensus price target is $10.18, suggesting downside of -6.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 18.51 cents and EPS of 42.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.9, implying annual growth of N/A. Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 28.0. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 18.51 cents and EPS of 49.04 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.9, implying annual growth of 12.9%. Current consensus DPS estimate is 19.8, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 24.8. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates RMD as Hold (3) -
September quarter net profit was below Ord Minnett forecasts, the miss being attributed to lower gross margin and higher costs. As anticipated, the company reported a double-digit lift in masks sales, confirming manufacturing issues have been addressed.
Hold rating retained. Target is raised to $9.60 from $9.25.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $9.60 Current Price is $10.65 Difference: minus $1.05 (current price is over target).
If RMD meets the Ord Minnett target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $10.18, suggesting downside of -6.6% (ex-dividends)
Forecast for FY18:
Current consensus EPS estimate is 38.9, implying annual growth of N/A. Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 28.0. |
Forecast for FY19:
Current consensus EPS estimate is 43.9, implying annual growth of 12.9%. Current consensus DPS estimate is 19.8, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 24.8. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates RMD as Buy (1) -
September quarter sales were up 13% and in line with UBS estimates. Growth was consistent across product segments and geographies.
The broker observes US mask growth underpins estimates for FY18 and remains a leading indicator of recurring replenishment revenues in FY19.
Buy retained. Target is raised to US$90.00 from US$84.75.
Current Price is $10.65. Target price not assessed.
Current consensus price target is $10.18, suggesting downside of -6.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 19.53 cents and EPS of 38.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.9, implying annual growth of N/A. Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 28.0. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 22.02 cents and EPS of 45.08 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.9, implying annual growth of 12.9%. Current consensus DPS estimate is 19.8, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 24.8. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates TAH as Outperform (1) -
Wagering and media delivered 4.5% growth in the September quarter, ahead of Credit Suisse forecasts. The broker is more confident about the company's ability to maintain modest revenue growth amidst intense competition.
Outperform retained. Target is $4.80.
Target price is $4.80 Current Price is $4.45 Difference: $0.35
If TAH meets the Credit Suisse target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $4.51, suggesting upside of 0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 24.00 cents and EPS of 18.28 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of N/A. Current consensus DPS estimate is 24.7, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 21.3. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 25.00 cents and EPS of 21.45 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of 11.8%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 6.0%. Current consensus EPS estimate suggests the PER is 19.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates TAH as Buy (1) -
Deutsche Bank found the first quarter trading update positive. Sun Bets continues to disappoint. Wagering trends are improving and generated revenue growth of 4.5%.
The broker reduces earnings estimates by -6-13% to reflect higher-than-anticipated losses at Sun Bets.
Deutsche Bank maintains a Buy rating and $5.20 target.
Target price is $5.20 Current Price is $4.45 Difference: $0.75
If TAH meets the Deutsche Bank target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $4.51, suggesting upside of 0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 26.00 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of N/A. Current consensus DPS estimate is 24.7, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 21.3. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 27.00 cents and EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of 11.8%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 6.0%. Current consensus EPS estimate suggests the PER is 19.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates TAH as Lighten (4) -
Ord Minnett observes wagering growth was strong in the first quarter while margins remained challenged as the company invests to position itself against the competition.
The performance of Sun Bets remains below expectations and under the company's review.
Lighten rating and $4.10 target retained.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $4.10 Current Price is $4.45 Difference: minus $0.35 (current price is over target).
If TAH meets the Ord Minnett target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.51, suggesting upside of 0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 25.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of N/A. Current consensus DPS estimate is 24.7, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 21.3. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 27.00 cents and EPS of 25.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of 11.8%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 6.0%. Current consensus EPS estimate suggests the PER is 19.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates TAH as No Rating (-1) -
September quarter revenue growth of 6% was largely driven by the strength in core wagering and a step change following the Intecq acquisition and inclusion of the Panthers TGS contract.
As the broker is advising on the proposed merger, it is currently under research restriction.
Current Price is $4.45. Target price not assessed.
Current consensus price target is $4.51, suggesting upside of 0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 23.50 cents and EPS of 22.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of N/A. Current consensus DPS estimate is 24.7, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 21.3. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 26.50 cents and EPS of 25.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of 11.8%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 6.0%. Current consensus EPS estimate suggests the PER is 19.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates TLS as Sell (5) -
Citi envisages a risk that the decline in core earnings accelerates as industry growth in both mobile and broadband matures.
Core earnings per share is expected to fall by an estimated -43% from FY17 to the end of the NBN roll-out in FY21.
Target price declines to $3.25 from $3.35. Sell rating retained.
Target price is $3.25 Current Price is $3.55 Difference: minus $0.3 (current price is over target).
If TLS meets the Citi target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.82, suggesting upside of 8.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 22.00 cents and EPS of 22.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.9, implying annual growth of -4.9%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 11.4. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 21.00 cents and EPS of 17.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.4, implying annual growth of -1.6%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 11.6. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WOR as Underperform (5) -
Credit Suisse observes the order book is not translating to revenue as yet and, exacerbating this uncertainty, the AGM provided no numerical earnings guidance.
Credit Suisse judges there are big risks to FY18 consensus estimates, particularly in light of the uncertain revenue outlook.
The broker retains an Underperform rating and $9.50 target. On Credit Suisse estimates the balance sheet still appears over-geared.
Target price is $9.50 Current Price is $13.74 Difference: minus $4.24 (current price is over target).
If WOR meets the Credit Suisse target it will return approximately minus 31% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $13.91, suggesting upside of 0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 0.00 cents and EPS of 57.57 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 67.0, implying annual growth of 396.3%. Current consensus DPS estimate is 17.6, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 20.7. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 0.00 cents and EPS of 62.63 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 78.9, implying annual growth of 17.8%. Current consensus DPS estimate is 29.7, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates WOR as Buy (1) -
The company has indicated resources & energy markets are at an inflection point and customers now signal they are planning modest increases in capital and operation expenditure.
Management has pointed to a higher skew to the second half than normal because of the -$3m impact from Hurricane Harvey and the timing of the Amec FW UK acquisition.
Deutsche Bank maintains FY18 forecasts but adjust the first half/second half split. Buy rating retained. Target rises to $16.98 from $16.67.
Target price is $16.98 Current Price is $13.74 Difference: $3.24
If WOR meets the Deutsche Bank target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $13.91, suggesting upside of 0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 42.00 cents and EPS of 65.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 67.0, implying annual growth of 396.3%. Current consensus DPS estimate is 17.6, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 20.7. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 48.00 cents and EPS of 74.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 78.9, implying annual growth of 17.8%. Current consensus DPS estimate is 29.7, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates WOR as Outperform (1) -
At its AGM WorleyParsons suggested the outlook has not changed since the company's August result release, with activity increasing in the energy and resource sectors. The broker sees the next catalyst as the Nov OPEC meeting.
The stock has seen some profit-taking but this is typical around AGM time, the broker notes, given an entrenched second half skew. Outperform and $14.31 target retained.
Target price is $14.31 Current Price is $13.74 Difference: $0.57
If WOR meets the Macquarie target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $13.91, suggesting upside of 0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 17.10 cents and EPS of 69.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 67.0, implying annual growth of 396.3%. Current consensus DPS estimate is 17.6, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 20.7. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 35.70 cents and EPS of 81.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 78.9, implying annual growth of 17.8%. Current consensus DPS estimate is 29.7, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Summaries
| AMP | AMP | Neutral - Citi | Overnight Price $4.96 |
| Outperform - Credit Suisse | Overnight Price $4.96 | ||
| Hold - Deutsche Bank | Overnight Price $4.96 | ||
| Neutral - Macquarie | Overnight Price $4.96 | ||
| Add - Morgans | Overnight Price $4.96 | ||
| Accumulate - Ord Minnett | Overnight Price $4.96 | ||
| Neutral - UBS | Overnight Price $4.96 | ||
| ANZ | ANZ BANKING GROUP | Neutral - UBS | Overnight Price $29.84 |
| AYS | AMAYSIM AUSTRALIA | Outperform - Macquarie | Overnight Price $1.95 |
| CHC | CHARTER HALL | Hold - Ord Minnett | Overnight Price $5.68 |
| CLQ | CLEAN TEQ HOLDINGS | Outperform - Macquarie | Overnight Price $1.37 |
| GWA | GWA GROUP | Hold - Deutsche Bank | Overnight Price $2.59 |
| HIG | HIGHLANDS PACIFIC | Add - Morgans | Overnight Price $0.07 |
| ILU | ILUKA RESOURCES | Neutral - Credit Suisse | Overnight Price $9.62 |
| Underperform - Macquarie | Overnight Price $9.62 | ||
| Buy - UBS | Overnight Price $9.62 | ||
| IPL | INCITEC PIVOT | Equal-weight - Morgan Stanley | Overnight Price $3.81 |
| ISD | ISENTIA | Downgrade to Underperform from Neutral - Macquarie | Overnight Price $1.05 |
| JHC | JAPARA HEALTHCARE | Underweight - Morgan Stanley | Overnight Price $2.01 |
| MQG | MACQUARIE GROUP | Sell - Citi | Overnight Price $97.91 |
| Upgrade to Outperform from Neutral - Credit Suisse | Overnight Price $97.91 | ||
| Hold - Deutsche Bank | Overnight Price $97.91 | ||
| Equal-weight - Morgan Stanley | Overnight Price $97.91 | ||
| Hold - Morgans | Overnight Price $97.91 | ||
| Hold - Ord Minnett | Overnight Price $97.91 | ||
| Buy - UBS | Overnight Price $97.91 | ||
| NBL | NONI B | Initiation of coverage with Add - Morgans | Overnight Price $2.01 |
| OGC | OCEANAGOLD | Outperform - Macquarie | Overnight Price $3.62 |
| Neutral - UBS | Overnight Price $3.62 | ||
| ORE | OROCOBRE | Upgrade to Buy from Neutral - Citi | Overnight Price $4.73 |
| Buy - Deutsche Bank | Overnight Price $4.73 | ||
| Upgrade to Neutral from Underperform - Macquarie | Overnight Price $4.73 | ||
| Underweight - Morgan Stanley | Overnight Price $4.73 | ||
| Add - Morgans | Overnight Price $4.73 | ||
| Buy - UBS | Overnight Price $4.73 | ||
| QAN | QANTAS AIRWAYS | Outperform - Credit Suisse | Overnight Price $5.96 |
| RMD | RESMED | Neutral - Credit Suisse | Overnight Price $10.65 |
| Overweight - Morgan Stanley | Overnight Price $10.65 | ||
| Hold - Ord Minnett | Overnight Price $10.65 | ||
| Buy - UBS | Overnight Price $10.65 | ||
| TAH | TABCORP HOLDINGS | Outperform - Credit Suisse | Overnight Price $4.45 |
| Buy - Deutsche Bank | Overnight Price $4.45 | ||
| Lighten - Ord Minnett | Overnight Price $4.45 | ||
| No Rating - UBS | Overnight Price $4.45 | ||
| TLS | TELSTRA CORP | Sell - Citi | Overnight Price $3.55 |
| WOR | WORLEYPARSONS | Underperform - Credit Suisse | Overnight Price $13.74 |
| Buy - Deutsche Bank | Overnight Price $13.74 | ||
| Outperform - Macquarie | Overnight Price $13.74 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 21 |
| 2. Accumulate | 1 |
| 3. Hold | 17 |
| 4. Reduce | 1 |
| 5. Sell | 7 |
Monday 30 October 2017
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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.
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