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Ord Minnett rates AEL as Buy

Record September quarter production by Amplitude Energy strengthens Ord Minnett's confidence in the funding of its growth pipeline.

Production of 7.5PJe beat the broker's forecast by 3%, supported by a strong Orbost plant performance, positioning output towards the upper end of FY27 guidance.

Net debt fell to $31m from $38m at 30 June, despite elevated capex, although the analyst forecasts a rise to around $260m during FY27.

Ord Minnett forecasts production growth of 58% by FY30 and annual free cash flow of around $230m-$260m in FY29-FY30, implying yields of 42%-48%.

Target raised by 5c to $2.70. Buy rating maintained.

This is a summary of research released by Ord Minnett yesterday.

Citi rates BAP as Neutral

Citi considers the third quarter result from US company Genuine Parts Co a modest positive for Bapcor, given its higher exposure to trade customers. Trade continues to outperform retail, the US company revealed.

Weak consumer and macro conditions continue to present a risk for Bapcor in terms of the timing and magnitude of any earnings recovery and a Neutral rating and 69c target are maintained.

UBS rates BHP as Neutral

BHP Group's 1Q27 copper production came in a bit below consensus, -5% according to UBS, resulting from lower planned grades, maintenance, adverse weather and accidents.

Iron ore production of 72Mt was -1% below consensus with shipments of 74Mt, above consensus with a robust underlying performance, the analyst notes.

Coal of BMA production was 2% above consensus expectations despite some stoppages with NSW Energy coal 18% higher than consensus, while FY27 guidance was unchanged.

Realised copper prices were 12% better than consensus and met coal up 34% y/y. Stage 1 of Jensen is around 87% complete and on track for first tonnes mid-2027. Stage 2 is 16% complete with first tonnes targeted for late 2031.

No change to $62 target with a Neutral rating retained.