Australian Broker Call *Extra* Edition – Oct 14, 2021

Daily Market Reports | Oct 14 2021

An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed equities.

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

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

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

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

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

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

COMPANIES DISCUSSED IN THIS ISSUE

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

ALL   BHP (2)   BXB   CIM   CXL   CYG   DUB   EM2   KSN   OZL   PDI   PEN   PFP   PPH   SFR   TLS   TLX   TNT   WBC   ZBT  

PDI    PREDICTIVE DISCOVERY LIMITED

Gold & Silver - Overnight Price: $0.20

Canaccord Genuity rates ((PDI)) as Spec Buy (1) -

Predictive Discovery has further results from the Bankan gold project in Guinea. All three holes intersected a continuation of the high-grade central zone at depths of up to 433m. Canaccord Genuity now awaits the maiden resource.

The broker retains a Speculative Buy rating with a $0.24 target.

This report was published on September 16, 2021.

Target price is $0.24 Current Price is $0.20 Difference: $0.04
If PDI meets the Canaccord Genuity target it will return approximately 20% (excluding dividends, fees and charges).

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

PEN    PENINSULA ENERGY LIMITED

Uranium - Overnight Price: $0.28

Shaw and Partners rates ((PEN)) as Buy (1) -

Peninsula Energy has provided an update on field demonstration trials for its Lance Project. Shaw and Partners' view is that trial results show incrementally positive progress and improved uranium grades. 

The broker notes Peninsula Energy has begun to evaluate alternative uranium recovery process options. The broker expects a revised feasibility study, taking in account field demonstration data, in the first half of FY22

The Buy rating and target price of $0.30 are retained. 

This report was published on September 9, 2021.

Target price is $0.30 Current Price is $0.28 Difference: $0.02
If PEN meets the Shaw and Partners target it will return approximately 7% (excluding dividends, fees and charges).

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

PFP    PROPEL FUNERAL PARTNERS LIMITED

Consumer Products & Services - Overnight Price: $4.31

Moelis rates ((PFP)) as Buy (1) -

The company has acquired three funeral service providers in Adelaide for $17.6m and Moelis increases FY23 estimates for earnings per share by 5% to reflect the accretion.

Looking through the disruptions caused by lockdowns the broker is positive on the stock as an attractive, defensive growth proposition. Buy rating maintained. Target is $4.57.

This report was published on September 14, 2021. 

Target price is $4.57 Current Price is $4.31 Difference: $0.26
If PFP meets the Moelis target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 9.60 cents and EPS of 13.80 cents.
At the last closing share price the estimated dividend yield is 2.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.23.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 11.40 cents and EPS of 16.30 cents.
At the last closing share price the estimated dividend yield is 2.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.44.

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

PPH    PUSHPAY HOLDINGS LIMITED

Software & Services - Overnight Price: $1.74

Jarden rates ((PPH)) as Buy (1) -

The main message Jarden derived from the investor briefing is the focus on growth. The company provided addressable market estimates that was significantly larger than the broker had assumed.

Management also flagged steady digital donations and usage patterns as the US economy re-opens. The Catholic segment has been highlighted as a market opportunity of US$30bn in annual donations with customer testimonials highlighting a strong initial response.

The broker retains a Buy rating with an NZ$2.24 target.

This report was published on September 14, 2021.

Current Price is $1.74. Target price not assessed.
Current consensus price target is $1.90, suggesting upside of 10.5%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of 5.18 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.6, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 30.7.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 3.06 cents and EPS of 6.11 cents.
At the last closing share price the estimated dividend yield is 1.76%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.8, implying annual growth of 21.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 25.3.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources


The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE

If you already had your free trial, why not join as a paying subscriber? CLICK HERE

MEMBER LOGIN