Australian Broker Call

Morgan Stanley rates 360 as Overweight (1) -

Life360's 2022 result broadly met Morgan Stanley's forecast, the company finishing the year with US$90m cash in the kitty.

The broker suspects December-quarter inventory destocking could prove a tailwind in 2023, with initial guidance outpacing.

Overweight rating and $8.50 retained. Industry view: In Line.

Target price is $8.50 Current Price is $5.42 Difference: $3.08
If 360 meets the Morgan Stanley target it will return approximately 57% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY22:

Forecast for FY23:

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

Morgans rates AMX as Add (1) -

The Department of Defense has awarded Aerometrex a big Lidar (laser imaging) contract and Morgans expects the funds will roll in this June half.

The broker expects the company will now feel vindicated in its Lidar investment.

Add recommendation and $1.24 target price retained.

Target price is $1.24 Current Price is $0.52 Difference: $0.725
If AMX meets the Morgans target it will return approximately 141% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates BBN as Neutral (3) -

While Citi considers Baby Bunting to hold long duration growth potential, the broker sees downside earnings risk in the near-term as headwinds take longer than expected to moderate. The broker expects net profit to decrease -19% to $10m over the first half. 

The broker would also like to see the retailer better leverage its scale advantage over smaller competitors. Longer-term, the broker sees an ongoing store rollout, potential market gains, and margin expansion initiatives as driving growth potential. 

The Neutral rating is retained and the target price decreases to $3.20 from $3.32.

Target price is $3.20 Current Price is $3.03 Difference: $0.17
If BBN meets the Citi target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $3.79, suggesting upside of 43.0% (ex-dividends)

The company's fiscal year ends in July.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.6

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates CAR as Hold (3) -

Now that Ord Minnett is whitelabeling Morningstar research, the Hold rating remains unchanged but the price target has lifted to $22.80.

Forecasts for the year(s) ahead are based on the premise that while overall volumes in car sales in Australia are expected to decline, this is likely to be compensated for through higher yields, i.e. spend per advertisement.

As FY23 will be the first year of inclusion for the somewhat controversial US acquisition of Trader Interactive, the forecast is that Carsales' EBITDA will be 40% higher than last year's.

The analyst anticipates strong growth from the Asian operations. Noteworthy: current forecasts don't seem to leave room for follow-up growth in FY24.

Target price is $22.80 Current Price is $22.25 Difference: $0.55
If CAR meets the Ord Minnett target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $24.30, suggesting upside of 7.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates CGF as Downgrade to Hold from Add (3) -

Morgans revises its estimates and ratings for 13 companies heading into 2023.

Challenger's rating is downgraded to Hold from Add, following recent share price strength. Target price rises to $7.93 from $7.71.

Target price is $7.93 Current Price is $7.77 Difference: $0.16
If CGF meets the Morgans target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $6.92, suggesting downside of -11.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Ord Minnett rates CHL as Initiation of coverage with Accumulate (2) -

Ord Minnett has initiated coverage of Camplify Holdings with an Accumulate rating and $1.87 price target. Following the acquisition of PaulCamper late last year, the broker sees growth potential on the horizon as the company has increased its scale.

Ord Minnett is forecasting compound annual growth (CAGR) in revenue of circa 37% per annum between FY23 to FY26. The general outlook for domestic leisure as well as the company's own track record support these forecasts, suggests the broker.

Successful execution will hinge on Camplify develop best-in-class insurance products, as well as further automation to prove the business model is profitable at scale.

Target price is $1.87 Current Price is $1.75 Difference: $0.12
If CHL meets the Ord Minnett target it will return approximately 7% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates CPU as Add (1) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

EPS forecasts for Computershare fall -1% to -4% across FY23 to FY25 to reflect margin pressure. Dividend forecasts take a big hit.

Target price falls to $30.97 from $33.52. Add rating retained.

Target price is $30.97 Current Price is $24.10 Difference: $6.87
If CPU meets the Morgans target it will return approximately 29% (excluding dividends, fees and charges).

Current consensus price target is $31.85, suggesting upside of 35.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgan Stanley rates DXS as Downgrade to Underweight from Overweight (5) -

Morgan Stanley downgrades Dexus to Underweight from Overweight as fundamentals deteriorate.

The broker observes office vacancies have hit a 20-year high and given the glut of developments, may take years to recover. Add that to a forecast economic slowdown in 2023 and question marks over asset valuations, and the picture is difficult to salvage.

While the broker admires management's enterprising spirit and its push to diversify, Morgan Stanley doubts this shift will be swift enough to combat the mounting negatives in 2023.

Target price falls to $7.90 from $10.55.

Target price is $7.90 Current Price is $8.02 Difference: minus $0.12 (current price is over target).
If DXS meets the Morgan Stanley target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $9.04, suggesting upside of 15.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Credit Suisse rates EVN as Downgrade to Underperform from Neutral (5) -

Credit Suisse reviews metals sectors and spies an increase in nickel, alumina and gold prices but expects copper prices will struggle. IGO is the broker's preferred pick across all sectors.

The broker's copper forecasts are -15% shy of consensus, the broker expecting that additional supply will land in a slowing economy, and oversupplied market.

Evolution Mining is downgraded to Underperform from Neutral to reflect the failure of the copper, zinc and gold prices to rise sufficiently to justify the broker's valuation.

Current Price is $3.29. Target price not assessed.

Current consensus price target is $2.90, suggesting downside of -12.9% (ex-dividends)

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.1

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates GDG as Add (1) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

Generation Development's target price rises to $1.65 from $1.56 on a roll-forward basis.

EPS forecasts are steady. Add rating retained.

Target price is $1.65 Current Price is $1.46 Difference: $0.19
If GDG meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Macquarie rates GEM as Neutral (3) -

G8 Education's year-to-date revenue and earnings have improved from the second quarter, driven by improvement in occupancy and cost control. Macquarie highlights a cost out program aiming to offset inflation worked to improve cost control. 

The broker feels the outlook remains challenging for G8 Education, but continues to expect the company to deliver 8.6% earnings per share growth for the year. Supply growth has slowed as construction and funding costs increased and staffing shortages are constraining benefits.

The Neutral rating and target price of $1.04 are retained.

Target price is $1.04 Current Price is $1.18 Difference: minus $0.135 (current price is over target).
If GEM meets the Macquarie target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).

The company's fiscal year ends in December.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.5

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates IAG as Add (1) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

EPS forecasts for Insurance Australia Group rise 3% to 4% after marking to market investment assumptions.

Target price rises to $5.57 from $5.24. Add rating retained.

Target price is $5.57 Current Price is $4.82 Difference: $0.75
If IAG meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $5.21, suggesting upside of 7.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Macquarie rates KLS as Outperform (1) -

Kelsian Group has announced a number of tendering developments. While the company has missed out on initial major Manchester contracts, it has been successful in the second tranche of the current tendering round in Sydney. 

R3 and R13 have been combined into an individual contract package in Sydney, spanning seven years and upwards of $800m in revenue. Macquarie sees potential for further tendering in Manchester, noting larger contracts form part of the next tranche of tendering. 

The Outperform rating and target price of $8.10 are retained.

Target price is $8.10 Current Price is $5.96 Difference: $2.14
If KLS meets the Macquarie target it will return approximately 36% (excluding dividends, fees and charges).

Current consensus price target is $7.87, suggesting upside of 32.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates KSL as Add (1) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

Kina Securities' target price falls to $1.11 - a 10% discount to the broker's $1.23 valuation - due to uncertainty surrounding a potential extra PNG bank tax.

Add rating retained.

Target price is $1.11 Current Price is $0.79 Difference: $0.32
If KSL meets the Morgans target it will return approximately 41% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY22:

Forecast for FY23:

This company reports in PGK. 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

Morgans rates LNK as Hold (3) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

EPS forecasts for Link Administration fall -8% in FY23; and -12% in FY24 after removing Pexa Group ((PXA)) from forecasts.

Target price falls to $2.06 from $3.31 accordingly. Hold rating retained.

Target price is $2.06 Current Price is $1.98 Difference: $0.08
If LNK meets the Morgans target it will return approximately 4% (excluding dividends, fees and charges).

Current consensus price target is $3.58, suggesting upside of 80.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.3

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Credit Suisse rates MND as Outperform (1) -

Credit Suisse observes the contracts Monadelphous Group was expected to have in hand by the close of 2022 have not yet been awarded due to industry capacity restraints.

The broker expects the company will most likely win these but timing wise, the landing of the revenue will be pushed out, affecting 2023 June-half forecasts. The broker will be keeping a keen eye to second-half revenue guidance when the company reports on February 21, expecting a miss on consensus. Staffing remains an issue.

EPS forecasts fall -3.1% to -11.6% across FY23 to FY25 accordingly.

Outperform rating retained, a recovery forecast in FY24 and FY25. Target price falls to $15.10 from $15.60.

Target price is $15.10 Current Price is $13.31 Difference: $1.79
If MND meets the Credit Suisse target it will return approximately 13% (excluding dividends, fees and charges).

Current consensus price target is $13.82, suggesting upside of 7.6% (ex-dividends)

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.2

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates MPL as Hold (3) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

EPS forecasts for Medibank Private fall -1% in FY23 and -4% in FY24 after marking to market, and to reflect signs of margin pressure.

Hold rating retained. Target price falls to $2.95 from $3.12.

Target price is $2.95 Current Price is $2.91 Difference: $0.04
If MPL meets the Morgans target it will return approximately 1% (excluding dividends, fees and charges).

Current consensus price target is $3.18, suggesting upside of 9.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.4

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates NHF as Add (1) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

EPS forecast for nib Holdings rises 1% in FY23; and falls -1% to -9% in FY24 after marking to market investment assumptions.

Add rating retained. Target price falls to $8.15 from $8.54 to reflect lower forecast discounted cash flow growth.

Target price is $8.15 Current Price is $7.70 Difference: $0.45
If NHF meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $7.53, suggesting downside of -1.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.2

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Credit Suisse rates NST as Downgrade to Neutral from Outperform (3) -

Credit Suisse reviews metals sectors and spies an increase in nickel, alumina and gold prices but expects copper prices will struggle. IGO is the broker's preferred pick across all sectors.

The broker believes the gold price will remain largely flat year on year but should find near term support from US-dollar pressure and a likely economic slowdown, particularly if stagflation ensues.

Northern Star Resources is downgraded to Neutral from Outperform on valuation grounds.

The broker's preferred gold picks are Newcrest Mining and St Barbara Mines.

Current Price is $12.08. Target price not assessed.

Current consensus price target is $11.10, suggesting downside of -10.7% (ex-dividends)

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgan Stanley rates ORG as Upgrade to Overweight from Equal-weight (1) -

Morgan Stanley has used a deep dive into Australia's utilities sector to upgrade Origin Energy to Overweight from Equal-weight. The broker's price target has moved to $8.88 from $6.35.

The broker's analysis suggests energy transition opportunities are firming while distributed energy resources are opening up faster than before. Add higher conviction in the company's access to capital and that upgrade now hinges on Origin management monetising the multiple opportunities.

Morgan Stanley sees multiple question marks and headwinds for the industry as a whole and thus retains its Cautious view on sector-level.

The broker's bear case sees valuation dropping to $5.54 while a bull case scenario would lift it to $9.39.

Target price is $8.88 Current Price is $7.63 Difference: $1.25
If ORG meets the Morgan Stanley target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $8.60, suggesting upside of 12.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.8

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgan Stanley rates PFP as Initiation of coverage with Overweight (1) -

Morgan Stanley initiates coverage on Propel Funeral Partners with an Overweight rating and $5.40 target price.

The broker appreciates the company's strong brands, scale, and competitive position in a fragmented market, not to mention the demographics of an ageing population, supported by strong immigration.

In the near term, risks include the affect of a slowing economy on prices, M&A and access to capital, but the broker believes the risk is to the upside.

Morgan Stanley forecasts EPS will rise 21% in FY23; and post a 14% compound annual growth rate through FY22 to FY25.

Target price is $5.40 Current Price is $4.30 Difference: $1.1
If PFP meets the Morgan Stanley target it will return approximately 26% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Credit Suisse rates PPT as Upgrade to Outperform from Neutral (1) -

Perpetual's merger with Pendal Group has been approved, is legally binding and will be implemented on January 23.

Credit Suisse says the deal will provide scale, diversity and an above-peer exposure to ESG and value segments, which are attracting the greatest share of capital.

The broker spies strong upside for Perpetual if it delivers on its global expansion and expects the merger will deliver earnings synergies of roughly 19% in FY26.

EPS forecasts fall -1%; -5%; and -2% across FY23, FY24 and FY25.

Outperform rating. Target price is $28.

Target price is $28.00 Current Price is $25.79 Difference: $2.21
If PPT meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges).

Current consensus price target is $29.70, suggesting upside of 12.7% (ex-dividends)

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Credit Suisse rates PRU as Outperform (1) -

Credit Suisse reviews metals sectors and spies an increase in nickel, alumina and gold prices but expects copper prices will struggle. IGO is the broker's preferred pick across all sectors.

The broker believes the gold price will remain largely flat year on year but should find near term support from US-dollar pressure and a likely economic slowdown, particularly if stagflation ensues.

Perseus Mining is downgraded to Neutral from Outperform on valuation grounds.

The broker's preferred gold picks are Newcrest Mining and St Barbara Mines.

Current Price is $2.34. Target price not assessed.

Current consensus price target is $2.20, suggesting downside of -5.6% (ex-dividends)

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.7

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates QBE as Add (1) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

EPS forecasts for QBE Insurance rise 1% in 2022; an fall -1% to -2% in FY23 after marking to market and tinkering with earnings. 2023 dividend forecasts fall sharply.

Add rating retained. Target price rises to $15.05 from $14.89, after rolling forward the valuation.

Target price is $15.05 Current Price is $13.03 Difference: $2.02
If QBE meets the Morgans target it will return approximately 16% (excluding dividends, fees and charges).

Current consensus price target is $16.01, suggesting upside of 22.8% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY22:

Forecast for FY23:

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 SFR as Downgrade to Underperform from Neutral (5) -

Credit Suisse reviews metals sectors and spies an increase in nickel, alumina and gold prices but expects copper prices will struggle. IGO is the broker's preferred pick across all sectors.

The broker's copper forecasts are -15% shy of consensus, the broker expecting that additional supply will land in a slowing economy, and oversupplied market.

Sandfire Resources is downgraded to Underperform from Neutral to reflect the failure of the copper price to support the broker's company valuation.

Current Price is $6.20. Target price not assessed.

Current consensus price target is $5.40, suggesting downside of -13.7% (ex-dividends)

Forecast for FY23:

Forecast for FY24:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.1

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates SUN as Buy (1) -

Citi expects another double-digit rise in reinsurance costs is likely for Suncorp Group in FY24, with all covers due for renewal on July 1. The broker sees this as a significant headwind for the insurer, but does anticipate premium and interest rate rises to more than offset. 

Citi anticipates Suncorp Group will exceed its $580m first half hazard allowance, given the company flagged hazards of $470-530m to the end of October. The broker forecasts a strong second half skew to support Suncorp Group in reaching its 10-12% underlying insurance margin target for FY23.

The Buy rating and target price of $13.50 are retained.

Target price is $13.50 Current Price is $11.75 Difference: $1.75
If SUN meets the Citi target it will return approximately 15% (excluding dividends, fees and charges).

Current consensus price target is $13.62, suggesting upside of 15.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates SUN as Add (1) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

EPS forecasts for Suncorp Group fall -2% in FY23 and rise 3% in FY24 after marking to market.

Add rating retained. Target price falls to $13.33 from $13.98 after the broker cuts long-term earnings assumptions.

Target price is $13.33 Current Price is $11.75 Difference: $1.58
If SUN meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges).

Current consensus price target is $13.62, suggesting upside of 15.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.9

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Macquarie rates TBN as Outperform (1) -

Following major acreage consolidation and capital raising, Macquarie anticipates 2023 could be a pivotal year for Tamboran Resources' Beetaloo asset, expecting the company is on the cusp of delivering potentially transformative flow tests.

The broker anticipates the market will be focused on 30-day flow rates to determine the extent to which Tamboran Resources has been able to successfully implement its US techniques.

While Tamboran Resources' share price has declined -39% since its initial public offering, Macquarie sees meaningful upside for new investors. 

The Outperform rating is retained and the target price increases to $0.35 from $0.30.

Target price is $0.35 Current Price is $0.25 Difference: $0.105
If TBN meets the Macquarie target it will return approximately 43% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 1.0

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Citi rates TWE as Neutral (3) -

Treasury Wine Estates appears to have outperformed the industry with its US off-premise performance through December, with retail wine sales up 1% year-on-year for the month, but Citi notes ongoing risk to higher-margin on-premise and cellar door channels. 

While volumes were down, higher pricing accounted for growth. The broker anticipates consumer spending may be increasingly challenged over the remainder of the fiscal year given rising  cost of living pressures.

The Neutral rating and target price of $13.50 are retained.

Target price is $13.50 Current Price is $13.89 Difference: minus $0.39 (current price is over target).
If TWE meets the Citi target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $14.22, suggesting upside of 0.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.6

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

Morgans rates TYR as Add (1) -

Morgans revises its estimates and ratings after reviewing 13 companies heading into 2023.

EPS forecasts for Tyro Payments fall more than -10% to reflect weaker growth forecasts as the economy slows.

Add rating retained. Target price falls to $1.79 from $2.05.

Target price is $1.79 Current Price is $1.37 Difference: $0.42
If TYR meets the Morgans target it will return approximately 31% (excluding dividends, fees and charges).

Current consensus price target is $1.83, suggesting upside of 24.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY23:

Forecast for FY24:

Market Sentiment: 0.5

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources