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Weekly Ratings, Targets, Forecast Changes – 29-01-21

Weekly Reports | Feb 01 2021

This story features ATLAS ARTERIA, and other companies. For more info SHARE ANALYSIS: ALX

Weekly update on stockbroker recommendation, target price, and earnings forecast changes

By Mark Woodruff

Guide:

The FNArena database tabulates the views of seven major Australian and international stock brokers: Citi, Credit Suisse, Macquarie, Morgan Stanley, Morgans, Ord Minnett and UBS.

For the purpose of broker rating correlation, Outperform and Overweight ratings are grouped as Buy, Neutral is grouped with Hold and Underperform and Underweight are grouped as Sell to provide a Buy/Hold/Sell (B/H/S) ratio.

Ratings, consensus target price and forecast earnings tables are published at the bottom of this report.

Summary

Period: Monday January 25 to Friday January 29, 2021
Total Upgrades: 14
Total Downgrades: 14
Net Ratings Breakdown: Buy 50.95%; Hold 40.03%; Sell 9.02%

In an even-handed performance for the week ending Friday January 29, brokers in the FNArena database delivered fourteen upgrades and downgrades to ASX-listed companies.

There were dual upgrades by separate brokers for Charter Hall Retail REIT. Both Ord Minnett and Morgan Stanley expressed a general preference toward non-discretionary retail REITs. Morgan Stanley also sees the advantage of regional exposure which is being driven by tourism and the potential for de-urbanisation.

Citi downgraded Orocobre to Neutral from Buy, while Credit Suisse lowered its rating to Underperform from Neutral. Despite both brokers being happy with the operating performance, the downgrades were necessary on valuation grounds as the share price has risen 137% since November lows.

In terms of percentage adjustments to target price it was a relatively quiet week with no material reductions and some lower-than-usual increases. Targets and ratings were lifted for both Webjet and Corporate Travel Management after a travel sector review by Credit Suisse.

The broker anticipates good 2022 earnings, led by a strong top-line from pent up demand, share gains, and profitability due to cost-containment during the pandemic. In addition, Corporate Travel Management may grow market share via a global footprint and in-house built technology.

South32 headed the weekly table for the largest percentage upgrade to earnings forecasts by brokers in the FNArena database. As mentioned last week, Macquarie upgraded the rating for South32 to Neutral from Underperform, after lifting earnings estimates.

Morgan Stanley also noted December quarter performance overall was better-than-expected. The soon-to-be-divested South African Energy Coal (SAEC) was universally seen by brokers as an underperformer.

Next on the table was Fisher & Paykel Healthcare, which received universal acclaim from the four brokers that cover the stock in the FNArena database. Citi perceives the key change across the third quarter is accelerating hardware sales growth, coupled with stronger margins.

Not to be outdone, Reliance Worldwide garnered the praise of six brokers in the database, after reporting impressive first-half sales and operating income. Investors were cautioned about a more challenging second half due to currency translation and higher commodity costs.

Citi's forecast FY21 and FY22 earnings for Pilbara Minerals were materially lifted in anticipation of a strong demand recovery for spodumene. The price of the mineral is hitching a ride on a robust electric vehicle (EV) outlook.

In terms of percentage downgrades to earnings forecasts by brokers for the week, an energy flavour prevailed. Karoon Energy and Cooper Energy were atop the table, with Viva Energy Group and Oil Search not far behind.

The earnings forecasts compiled by Macquarie for an initiation of coverage for Viva Energy Group (with an Outperform rating) only served to lower the average of all brokers’ estimates.

All seven brokers in the FNArena database reviewed fourth quarter results for Oil Search and on the whole noted lower earnings and higher debt. The latter was potentially related to lower revenue and higher cost guidance.

Second quarter revenue was lower due to delayed shipments by Karoon Energy, while foaming at Cooper Energy’s Orbost operations is causing some hesitation among brokers.  

Prima facie, the appearance of Corporate Travel Management and Webjet in the leading percentage downgrades list is perplexing. Both were mentioned above for material upward target price revisions.

The mystery is explained by a reassessment of the aviation sector by UBS. The broker foresees short-term headwinds from deteriorating covid conditions in both the US and UK, and border closures locally.

Total Buy recommendations take up 50.95% of the total, versus 40.03% on Neutral/Hold, while Sell ratings account for the remaining 9.02%.

Upgrade

ATLAS ARTERIA ((ALX)) Upgrade to Add from Hold by Morgans .B/H/S: 2/3/0

Second half revenue for Atlas Arteria was 5-7% ahead of Morgans forecasts, leading to upgrades for the broker's FY20-21 local currency earnings (EBITDA) estimates.

The broker also upgrades the rating to Add, with a potential 12 month total return of around 12%, comprising 7% upside and around 5% yield. 

Fourth quarter traffic and toll revenue continued to be impacted by covid-19-related movement restrictions.

The target price is decreased to $6.51 from $6.74, with the uptrend in AUDEUR and AUDUSD offsetting the benefit of short-term forecast upgrades.

The company’s FY20 result release is scheduled for 25 February.

ASX LIMITED ((ASX)) Upgrade to Equal-weight from Underweight by Morgan Stanley .B/H/S: 0/3/3

Rating is upgraded to Equal-weight from Underweight. Target rises to $72.90 from $67.90. Industry view: In-line.

ASX has underperformed the Australian market by circa -25% in the last 3 months with its P/E premium versus global peers down to circa 10% from circa 30%.

Morgan Stanley highlights the headwinds which include multi-year subdued futures volumes and upward pressure on technological and operating risk spending to ensure trading stability, as well as heightened regulatory scrutiny.

In the medium-term, ASX will have the option to earn via monetising data supported by CHESS replacement and building a PEXA competitor, suggests the analyst.

CHARTER HALL RETAIL REIT ((CQR)) Upgrade to Accumulate from Hold by Ord Minnett and Upgrade to Equal-weight from Underweight by Morgan Stanley .B/H/S: 3/2/1

Ord Minnett shifts its preference towards non-discretionary convenience retail REITs like Charter Hall Retail REIT and upgrades its rating to Accumulate from Hold. Target is unchanged at $4.

Ord Minnett expects 2021 to be another interesting year for the property sector with relatively attractive sector pricing and healthy balance sheets.

Fundamentals are expected to remain strong for the industrial, self-storage, grocery-anchored retail and long weighted average lease expiry (WALE) assets with listed owners continuing to grow via M&A.

Office and retail malls may face some structural challenges and this is likely to create volatility and provide selective investment opportunities, assesses the broker. 

Morgan Stanley upgrades its Charter Hall Retail REIT rating to Equal-weight from Underweight. Target moves to $3.72 from $3.60. Industry view: In-line.

The broker is of the opinion that retailers with regional exposure will have an advantage in the short to medium term, driven by tourism and potential de-urbanisation.

Within its coverage, Morgan Stanley finds the REIT's assets to be the most appropriately located to capitalise on that theme.

CORPORATE TRAVEL MANAGEMENT LIMITED ((CTD)) Upgrade to Outperform from Neutral by Credit Suisse .B/H/S: 6/0/0

Credit Suisse has upgraded its rating on Corporate Travel Management to Outperform from Neutral with the target rising to $22 from $13.60.

The broker anticipates 2022 to be a good year from an earnings perspective led by a strong top-line from pent up demand, share gains, and profitability due to cost-containment during the pandemic.

The importance of in-person interactions is being underappreciated currently, asserts Credit Suisse and believes the company will grow share due to its global footprint and in-house built technology.

DOMAIN HOLDINGS AUSTRALIA LIMITED ((DHG)) Upgrade to Outperform from Neutral by Credit Suisse .B/H/S: 3/3/0

Credit Suisse estimates that NSW accounts for up to 60% of Domain Holdings' residential depth revenues with the company in the broker's view likely to be a key beneficiary of stamp duty reform in NSW.

Highlighting its exposure to the Sydney market, Domain Holdings reported 15% residential depth revenue growth in the first quarter, despite the negative impact of the Melbourne lockdown.

Credit Suisse upgrades to Outperform from Neutral with the target rising to $5.10 from $4.40.

EVOLUTION MINING LIMITED ((EVN)) Upgrade to Outperform from Neutral by Macquarie .B/H/S: 2/4/1

Evolution Mining's December quarter gold production beat Macquarie by 6%, with costs in line. The miner is well placed to achieve the top end of guidance, the broker suggests, with a strong second half anticipated and elevated copper prices helping to reduce costs.

Red Lake's transformation plan also appears to be going well. On a valuation basis, the broker upgrades to Outperform form Neutral. Target rises to $5.40 from $5.30.

HARVEY NORMAN HOLDINGS LIMITED ((HVN)) Upgrade to Overweight from Equal-weight by Morgan Stanley .B/H/S: 6/0/0

Morgan Stanley considers two underlying thematics (excluding covid) while analysing the consumer sector.

The broker has a constructive view on the housing market and expects hardware, appliances and furniture retailers to grow. Consumer electronics are expected to lag.

Regional Australia's economic backdrop is considered supportive by the broker with the last three years of severe drought conditions now reversing. 

Both these thematics are expected to help Harvey Norman and the broker upgrades its rating to Overweight from Equal-weight. Target rises to $6 from $5.30. industry view moves to Attractive from Cautious.

NATIONAL AUSTRALIA BANK LIMITED ((NAB)) Upgrade to Neutral from Underperform by Macquarie .B/H/S: 3/4/0

In a review of the bank sector, Macquarie analysts maintain a neutral view and continue to see the operating environment as challenging. The pressure on revenue from margins and fees is considered to remain and is not fully reflected in consensus.

While valuations appear stretched to the broker, rising bond yields are likely to push even higher. 

Macquarie upgrades FY21 earnings for National Australia Bank by 5-15% because of lower impairment charges, while EPS changes in outer years are less material.

As the downside risk relating to credit quality appears less likely, and with better underlying trends than peers, Macquarie lifts the rating to Neutral from Underperform and the target is increased to $24 from $22.

RAMELIUS RESOURCES LIMITED ((RMS)) Upgrade to Outperform from Neutral by Macquarie .B/H/S: 2/0/0

Ramelius Resources' December quarter was solid, with a beat in sales offsetting higher costs. The miner has a solid track record compared to guidance, Macquarie notes, and a strong second half is expected.

Studies due for completion over 2021 have the potential to provide meaningful upside. On a valuation basis the broker upgrades to Outperform, reatining a $1.90 target.

RELIANCE WORLDWIDE CORPORATION LIMITED ((RWC)) Upgrade to Buy from Accumulate by Ord Minnett .B/H/S: 3/2/1

Reliance Worldwide Corp's first-half trading update included sales growth increase of 17%. Ord Minnett notes the company achieved strong operating leverage due to the combination of higher volumes and cost savings initiatives.

The second half outlook is expected to be slightly more challenging given headwinds from currency translation and higher commodity costs.

Rating is upgraded to Buy from Accumulate with the target rising to $5.30 from $4.50.

ST BARBARA LIMITED ((SBM)) Upgrade to Neutral from Underperform by Macquarie .B/H/S: 3/2/0

St Barbara produced 89.7koz of gold in the second quarter FY21, 9% above Macquarie's forecast. The all-in-sustaining-cost (AISC) was 5% above the broker's expectation.

The broker notes Simberi was the key point of weakness, with lower recovery resulting from the processing of transitional ore.

The rating is raised to Neutral from Underperform. Macquarie views this as the low point, as production metrics are expected to improve.

The target price of $2.40 is unchanged.

TECHNOLOGYONE LIMITED ((TNE)) Upgrade to Buy from Sell by UBS .B/H/S: 2/1/0

In the wake of TechnologyOne's recent de-rating, the broker has double-upgraded to Buy from Sell. The stock has underperfomed the Small Ordinaries by -15% since its November earnings result, and -25% since the prior May result.

The broker sees upside risk from faster SaaS conversion, improving UK momentum and greater traction in domestic state/federal government business. Value is on offer compared to both domestic and foreign peers, the broker suggests.

Target rises to $9.15 from $8.45.

WEBJET LIMITED ((WEB)) Upgrade to Outperform from Neutral by Credit Suisse .B/H/S: 2/3/0

Credit Suisse has upgraded its rating on Webjet to Outperform from Neutral with the target rising to $5.4 from $3.7.

The broker anticipates 2022 to be a good year from an earnings perspective led by a strong top-line from pent up demand, share gains, and profitability due to cost-containment during the pandemic.

Webjet is expected to gain share as volumes recover in both B2B and B2C segments. Within B2B, the company's ability to access funding increases its appeal, notes the broker, while within B2C, the initial travel activity will likely be skewed towards domestic travel.

Downgrade

BWP TRUST ((BWP)) Initiation of coverage with Underweight by Morgan Stanley .B/H/S: 0/2/2

Morgan Stanley initiates coverage on BWP Trust with an Underweight rating with a target price of $3.65. Industry view: In-line.

While BWP Trust has predominantly triple-net and/or long weighted average lease expiry (WALE) leases and derives circa 90% of its income from Bunnings tenancies, Morgan Stanley sees some risks due to the retailer's track record of relocating upon lease expiry.

With vacancies rising, the broker expects circa 2% earnings growth (compounded annual growth rate) over three years to FY24.

COMPUTERSHARE LIMITED ((CPU)) Downgrade to Neutral from Buy by UBS .B/H/S: 3/2/1

UBS has resumed coverage of Computershare having last updated in May last year, downgrading to Neutral from Buy. Target rises to $15.00 from $12.30.

The broker notes the stock has in the past traded at up to a -20% discount in an market downgrade cycle and a 40% premium in a recovery, implying significant upside on an earnings recovery. But not yet.

Uncertainty remains globally and 95% of earnings are derived offshore, hence the strong AUD is a headwind.

CSL LIMITED ((CSL)) Downgrade to Hold from Accumulate by Ord Minnett .B/H/S: 2/5/0

Ord Minnett downgrades its rating on CSL to Hold from Accumulate. Target falls to $306 from $293.70.

The rise in covid cases across the US has slowed down the plasma collections recovery, observes Ord Minnett, raising the risk of a shortage of immunoglobulin in the coming months.

The broker sees downside risk to its FY22 estimates while conceding the plasma issue will likely be a short-term challenge that will resolve as vaccines are rolled out. 

IGO LIMITED ((IGO)) Downgrade to Neutral from Outperform by Credit Suisse .B/H/S: 1/3/0

IGO's first half beat expectations in terms of operating income with earnings from the Nova project forming 70% of the total earnings. There will be no interim dividend while the broker assumes a final dividend of 6cps.  

The addition of Greenbushes to the portfolio is a differentiator, highlights Credit Suisse, and provides investors exposure to the world’s premier global hard rock lithium asset and downstream hydroxide production.

While the broker views IGO as one of the leading battery materials investments but considers that post-rally, its value looks full.

Rating is downgraded to Neutral from Outperform with the target rising to $6.40 from $6.

ILUKA RESOURCES LIMITED ((ILU)) Downgrade to Underperform from Neutral by Credit Suisse .B/H/S: 1/4/1

Credit Suisse is happy staying on the sidelines and downgrades its rating to Underperform from Neutral. Target rises to $5.60 from $5.35.

The December quarter for Iluka Resources was a bit of a mixed bag, says Credit Suisse, noting strong zircon sales circa 20% above the broker's forecast. 

While the result has prompted the broker to lift its 2020 earnings expectations by 28%, Credit Suisse believes it may still be too early for the company to reinstate its suspended dividend. The broker sees the dividend resuming in August. 

MIRVAC GROUP ((MGR)) Downgrade to Hold from Accumulate by Ord Minnett .B/H/S: 4/2/0

Based on valuation, Ord Minnett downgrades its rating on Mirvac Group to Hold from Accumulate with the target rising to $2.60 from $2.50.

Fundamentals are expected to remain strong for the industrial, self-storage, grocery-anchored retail and long weighted average lease expiry (WALE) assets with listed owners continuing to grow via M&A.

Office and retail malls are expected to face some structural challenges with the full impact on valuations uncertain. This is likely to create volatility and provide selective investment opportunities, assesses the broker.

MOUNT GIBSON IRON LIMITED ((MGX)) Downgrade to Neutral from Buy by Citi .B/H/S: 1/1/0

As a result of the lower shipments and higher opex revealed in the December production report, Citi  lowers FY21 and FY22 EPS forecasts by -25% and -5%, respectively.

The rating is also lowered to Neutral from Buy, largely due to the 45% share price rally over the last three months.

December quarter production and shipments were in-line with the broker's expectations, while lower shipments are expected for Koolan due to a wet season interruption and a localised rockfall event.

The target price falls to $1.10 from $1.15.

OROCOBRE LIMITED ((ORE)) Downgrade to Underperform from Neutral by Credit Suisse and Downgrade to Neutral from Buy by Citi .B/H/S: 2/3/2

Orocobre's production in the December quarter was up 58% quarter on quarter and the third-highest on record, with sales volumes up 28%. 

Credit Suisse highlights the market focus is shifting to growth with an increase in global EV sales strengthening the outlook for lithium demand, better prices, and improvement in sentiment toward battery materials.

The company's longer-term growth opportunity includes the acquired Cauchari ground.

Post the latest rally, Credit Suisse decides to downgrade its rating to Underperform from Neutral with the target rising to $5 from $2.85.

The operating performance at Olaroz improved quarter-on-quarter, with December quarter production up 58% and sales up 28%. This  beat Citi's estimates by 31% and 53%, respectively. 

The broker revises up FY21 earnings estimates to account for better price realisation and cost performance.

The target rises to $6.75 from $5 and the rating is downgraded to Neutral from Buy. The current share price (up 137% since its November lows) is now pricing in much of this upside, explains the analyst.

REECE LIMITED ((REH)) Downgrade to Reduce from Hold by Morgans .B/H/S: 0/0/2

Morgans revises exchange rate forecasts for a number of internationally exposed stocks.

After averaging US72.5 cents in the first half of 2021, the broker forecasts an Australian dollar average of US75.5 cents in the second half. The analysts also forecast an average rate of US79 cents in FY22 and US78 cents in FY23, with a long-term rate of US74 cents. 

Morgans also updates AUD/EUR, AUD/GBP and EUR/USD assumptions, amongst others.

For Reece, downward revisions to earnings forecasts have been due to the stronger Australian dollar.

Morgans calculates the current valuation is stretched and the rating is downgraded to Reduce from Hold. The target price is decreased to $11.45 from $11.60.

SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP ((SCP)) Downgrade to Hold from Accumulate by Ord Minnett .B/H/S: 2/3/1

On the basis of price-to-book ratios and dividend yield spreads becoming too wide, Ord Minnett downgrades its SCA Property Group to Hold from Accumulate with the target rising to $2.60 from $2.55.

Fundamentals are expected to remain strong for the industrial, self-storage, grocery-anchored retail and long weighted average lease expiry (WALE) assets, suggests the broker, with listed owners continuing to grow via M&A.

Office and retail malls are expected to face some structural challenges with the full impact on valuations uncertain. This is likely to create volatility and provide selective investment opportunities, assesses the broker.

SYRAH RESOURCES LIMITED ((SYR)) Downgrade to Neutral from Outperform by Credit Suisse .B/H/S: 1/1/1

Credit Suisse notes no change to the status quo at Syrah’s Balama facility which remains suspended due to soft graphite prices and an adequately supplied market.

Given only a circa 10% increase in graphite fines prices when Syrah has been absent from the market, the broker does not consider the demand sufficient to warrant a restart anytime soon. A Balama restart is forecast for the last quarter of 2021.

Rating is downgraded to Neutral from Outperform with the target price rising to $1.25 from $0.70.

WOODSIDE PETROLEUM LIMITED ((WPL)) Downgrade to Neutral from Buy by UBS .B/H/S: 3/4/0

The broker has lifted its Brent price forecasts to [all US$/bbl] 57 from 50 for 2021, 60 from 55 for 2022 and 60 from 57.50 for 2023.

While the broker was not anticipating a return to strict mobility restrictions around the globe in the first half 21, the underlying assumption of a vaccine-led recovery is unchanged and supported by vaccine developments and OPEC-Plus supply agreements.

Woodside Petroeum's target rises to $26.10 from $23.50 but the broker downgrades to Neutral from Buy suggesting the market is adequately pricing a decison on Scarborough in the second half 21.

WESTERN AREAS NL ((WSA)) Downgrade to Neutral from Outperform by Macquarie .B/H/S: 3/3/0

Western Areas posted December quarter nickel production -13% lower than Macquarie's forecast and costs 23% higher. Management still expects to achieve guidance at the bottom end of the range. The broker does not.

On a possible guidance miss and likely first half earnings loss, the broker downgrades to Neutral from Outperform. Target falls to $2.70 from $3.30.

Total Recommendations
Recommendation Changes

Broker Recommendation Breakup

Broker Rating

 

Order Company New Rating Old Rating Broker
Upgrade
1 ASX LIMITED Neutral Sell Morgan Stanley
2 ATLAS ARTERIA Buy Neutral Morgans
3 CHARTER HALL RETAIL REIT Neutral Sell Morgan Stanley
4 CHARTER HALL RETAIL REIT Buy Neutral Ord Minnett
5 CORPORATE TRAVEL MANAGEMENT LIMITED Buy Neutral Credit Suisse
6 DOMAIN HOLDINGS AUSTRALIA LIMITED Buy Neutral Credit Suisse
7 EVOLUTION MINING LIMITED Buy Neutral Macquarie
8 HARVEY NORMAN HOLDINGS LIMITED Buy Neutral Morgan Stanley
9 NATIONAL AUSTRALIA BANK LIMITED Neutral Sell Macquarie
10 RAMELIUS RESOURCES LIMITED Buy Neutral Macquarie
11 RELIANCE WORLDWIDE CORPORATION LIMITED Buy Buy Ord Minnett
12 ST BARBARA LIMITED Neutral Sell Macquarie
13 TECHNOLOGYONE LIMITED Buy Sell UBS
14 WEBJET LIMITED Buy Neutral Credit Suisse
Downgrade
15 BWP TRUST Sell N/A Morgan Stanley
16 COMPUTERSHARE LIMITED Neutral Buy UBS
17 CSL LIMITED Neutral Buy Ord Minnett
18 IGO LIMITED Neutral Buy Credit Suisse
19 ILUKA RESOURCES LIMITED Sell Neutral Credit Suisse
20 MIRVAC GROUP Neutral Buy Ord Minnett
21 MOUNT GIBSON IRON LIMITED Neutral Buy Citi
22 OROCOBRE LIMITED Neutral Buy Citi
23 OROCOBRE LIMITED Sell Neutral Credit Suisse
24 REECE LIMITED Sell Neutral Morgans
25 SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP Neutral Buy Ord Minnett
26 SYRAH RESOURCES LIMITED Neutral Buy Credit Suisse
27 WESTERN AREAS NL Neutral Buy Macquarie
28 WOODSIDE PETROLEUM LIMITED Neutral Buy UBS

Recommendation

Positive Change Covered by > 2 Brokers

Order Symbol Company New Rating Previous Rating Change Recs
1 SBM ST BARBARA LIMITED 50.0% 30.0% 20.0% 5
2 WEB WEBJET LIMITED 40.0% 20.0% 20.0% 5
3 ALX ATLAS ARTERIA 40.0% 20.0% 20.0% 5
4 HVN HARVEY NORMAN HOLDINGS LIMITED 92.0% 75.0% 17.0% 6
5 CTD CORPORATE TRAVEL MANAGEMENT LIMITED 92.0% 75.0% 17.0% 6
6 DHG DOMAIN HOLDINGS AUSTRALIA LIMITED 50.0% 33.0% 17.0% 6
7 NAB NATIONAL AUSTRALIA BANK LIMITED 36.0% 21.0% 15.0% 7
8 ASX ASX LIMITED -50.0% -64.0% 14.0% 7
9 NCM NEWCREST MINING LIMITED 64.0% 50.0% 14.0% 7
10 CLW CHARTER HALL LONG WALE REIT 60.0% 50.0% 10.0% 5

Negative Change Covered by > 2 Brokers

Order Symbol Company New Rating Previous Rating Change Recs
1 REH REECE LIMITED -83.0% -50.0% -33.0% 3
2 WSA WESTERN AREAS NL 50.0% 83.0% -33.0% 6
3 CWY CLEANAWAY WASTE MANAGEMENT LIMITED 21.0% 50.0% -29.0% 7
4 CRN CORONADO GLOBAL RESOURCES 75.0% 100.0% -25.0% 4
5 IGO IGO LIMITED 10.0% 30.0% -20.0% 5
6 BWP BWP TRUST -50.0% -33.0% -17.0% 4
7 QAN QANTAS AIRWAYS LIMITED 17.0% 33.0% -16.0% 6
8 IPL INCITEC PIVOT LIMITED 71.0% 86.0% -15.0% 7
9 WPL WOODSIDE PETROLEUM LIMITED 43.0% 57.0% -14.0% 7
10 SGR THE STAR ENTERTAINMENT GROUP LIMITED 43.0% 57.0% -14.0% 7

Target Price

Positive Change Covered by > 2 Brokers

Order Symbol Company New Target Previous Target Change Recs
1 WEB WEBJET LIMITED 4.596 4.166 10.32% 5
2 RWC RELIANCE WORLDWIDE CORPORATION LIMITED 4.792 4.357 9.98% 6
3 CTD CORPORATE TRAVEL MANAGEMENT LIMITED 20.455 18.838 8.58% 6
4 IGO IGO LIMITED 5.760 5.380 7.06% 5
5 CRN CORONADO GLOBAL RESOURCES 1.483 1.390 6.69% 4
6 WPL WOODSIDE PETROLEUM LIMITED 26.684 25.229 5.77% 7
7 NAB NATIONAL AUSTRALIA BANK LIMITED 24.036 23.421 2.63% 7
8 DHG DOMAIN HOLDINGS AUSTRALIA LIMITED 4.553 4.437 2.61% 6
9 IPL INCITEC PIVOT LIMITED 2.676 2.614 2.37% 7
10 HVN HARVEY NORMAN HOLDINGS LIMITED 5.292 5.175 2.26% 6

Negative Change Covered by > 2 Brokers

Order Symbol Company New Target Previous Target Change Recs
1 NCM NEWCREST MINING LIMITED 31.639 32.930 -3.92% 7
2 WSA WESTERN AREAS NL 2.700 2.808 -3.85% 6
3 ALX ATLAS ARTERIA 6.704 6.866 -2.36% 5
4 AMC AMCOR LIMITED 16.959 17.101 -0.83% 7
5 ASX ASX LIMITED 70.436 71.007 -0.80% 7
6 CSL CSL LIMITED 310.771 312.386 -0.52% 7
7 IAG INSURANCE AUSTRALIA GROUP LIMITED 5.463 5.491 -0.51% 7
8 REH REECE LIMITED 11.517 11.567 -0.43% 3

Earning Forecast

Positive Change Covered by > 2 Brokers

Order Symbol Company New EF Previous EF Change Recs
1 S32 SOUTH32 LIMITED 23.432 12.394 89.06% 7
2 FPH FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED 93.803 72.268 29.80% 4
3 PLS PILBARA MINERALS LIMITED -0.540 -0.640 15.63% 4
4 RWC RELIANCE WORLDWIDE CORPORATION LIMITED 23.378 20.750 12.67% 6
5 BPT BEACH ENERGY LIMITED 15.257 13.802 10.54% 6
6 ORG ORIGIN ENERGY LIMITED 25.447 23.130 10.02% 7
7 NIC NICKEL MINES LIMITED 6.470 5.913 9.42% 3
8 IEL IDP EDUCATION LIMITED 18.000 16.667 8.00% 5
9 AFG AUSTRALIAN FINANCE GROUP LTD 16.933 16.133 4.96% 3
10 CCL COCA-COLA AMATIL LIMITED 45.834 43.791 4.67% 6

Negative Change Covered by > 2 Brokers

Order Symbol Company New EF Previous EF Change Recs
1 KAR KAROON ENERGY LTD -3.200 0.213 -1602.35% 3
2 COE COOPER ENERGY LIMITED -0.054 0.033 -263.64% 5
3 CTD CORPORATE TRAVEL MANAGEMENT LIMITED -5.982 4.413 -235.55% 6
4 WEB WEBJET LIMITED -18.084 -13.056 -38.51% 5
5 VEA VIVA ENERGY GROUP LIMITED 0.315 0.498 -36.75% 6
6 WSA WESTERN AREAS NL 4.425 6.392 -30.77% 6
7 OSH OIL SEARCH LIMITED 2.228 3.091 -27.92% 7
8 CRN CORONADO GLOBAL RESOURCES -16.837 -13.852 -21.55% 4
9 GXY GALAXY RESOURCES LIMITED -2.640 -2.198 -20.11% 6
10 NST NORTHERN STAR RESOURCES LTD 59.034 67.000 -11.89% 5

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CHARTS

ALX ASX BWP CPU CQR CSL CTD DHG EVN HVN IGO ILU MGR MGX NAB ORE REH RMS RWC SBM SCP SYR TNE WEB WPL WSA

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For more info SHARE ANALYSIS: ORE - OROCOBRE LIMITED

For more info SHARE ANALYSIS: REH - REECE LIMITED

For more info SHARE ANALYSIS: RMS - RAMELIUS RESOURCES LIMITED

For more info SHARE ANALYSIS: RWC - RELIANCE WORLDWIDE CORP. LIMITED

For more info SHARE ANALYSIS: SBM - ST. BARBARA LIMITED

For more info SHARE ANALYSIS: SYR - SYRAH RESOURCES LIMITED

For more info SHARE ANALYSIS: TNE - TECHNOLOGY ONE LIMITED

For more info SHARE ANALYSIS: WEB - WEBJET LIMITED

For more info SHARE ANALYSIS: WPL - WOODSIDE PETROLEUM LIMITED

For more info SHARE ANALYSIS: WSA - WESTERN AREAS LIMITED