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Australian Broker Call *Extra* Edition – Feb 24, 2022

Daily Market Reports | Feb 24 2022

This story features AUSSIE BROADBAND LIMITED, and other companies. For more info SHARE ANALYSIS: ABB

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)

ABB   AKE   CTD   CUV   GEM   HUB (2)   INA   JLG (3)   SOM   WSP  

ABB    AUSSIE BROADBAND LIMITED

Telecommunication – Overnight Price: $4.94

JP Morgan rates ((ABB)) as Overweight (1) –

While 1H results for Aussie Broadband were largely pre-released, the outlook is better than JP Morgan expected, with residential subscribers continuing to grow, and record sales in January and February. The latter is thought to indicate conservative guidance.

From March 1 operating expense savings will kick-in for residential, with the completion of the 1,200km fibre build. In addition, management notes $6m in potential synergies from the acquisition of Over the Wire Holdings (transferring customers to fibre).

The Overweight rating is maintained and the target price rises to $5.85 from $5.75.

This report was published on February 22, 2022.

Target price is $5.85 Current Price is $4.94 Difference: $0.91
If ABB meets the JP Morgan target it will return approximately 18% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 0.00 cents and EPS of 6.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 82.33.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 0.00 cents and EPS of 20.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.70.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

AKE    ALLKEM LIMITED

New Battery Elements – Overnight Price: $9.38

Bell Potter rates ((AKE)) as Upgrade to Buy from Hold (1) –

Analists at Bell Potter have materially upgraded their lithium price forecast, resulting in large upgrades to the earnings and valuation of Allkem. The target price jumps to $17.51 from $11 and the rating increases to Buy from Hold.

Unlike base metals where there is a discovery constraint, the broker points out a development constraint exists for lithium. Apart from technical challenges, permitting, supply chain, geopolitical and ESG restrictions apply.

The broker believes the company's portfolio of growth projects is set to materially lift production over the next three years, in response to an expected rise in electric vehicle demand.

This report was published on February 18, 2022.

Target price is $17.51 Current Price is $9.38 Difference: $8.13
If AKE meets the Bell Potter target it will return approximately 87% (excluding dividends, fees and charges).
Current consensus price target is $12.72, suggesting upside of 41.7%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of 36.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 37.1, implying annual growth of N/A.
Current consensus DPS estimate is 0.8, implying a prospective dividend yield of 0.1%.
Current consensus EPS estimate suggests the PER is 24.2.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 98.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 63.3, implying annual growth of 70.6%.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 14.2.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CTD    CORPORATE TRAVEL MANAGEMENT LIMITED

Travel, Leisure & Tourism – Overnight Price: $23.30

JP Morgan rates ((CTD)) as Neutral (3) –

With North America and Europe leading a recovery for Corporate Travel Management, JP Morgan lifts its target to $24.50 from $22.50, following 1H results. No guidance was provided due to near term pandemic uncertainty.

Given a currently high share price, the broker retains its Neutral rating. The timing of the recovery in earnings is considered to largely rely on the speed of the removal of government restrictions and corporates reallocating budgets towards travel.

This report was published on February 24, 2022.

Target price is $24.50 Current Price is $23.30 Difference: $1.2
If CTD meets the JP Morgan target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $27.34, suggesting upside of 22.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 10.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 0.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 110.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.1, implying annual growth of N/A.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 72.0.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 39.00 cents and EPS of 78.00 cents.
At the last closing share price the estimated dividend yield is 1.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 97.5, implying annual growth of 213.5%.
Current consensus DPS estimate is 38.8, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 23.0.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CUV    CLINUVEL PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $22.09

Moelis rates ((CUV)) as Hold (3) –

Despite reporting 56.5% revenue growth, Clinuvel Pharmaceuticals' first half net profit fell -18.6% to $5.7m. Moelis notes higher than expected operating costs drove the underlying miss on higher raw material costs, expected to persist into the second half.

Continuing rollout of the SCENESSE exposure prone procedures treatment supports topline growth, and the US and Europe markets offer a long runway of growth opportunity. Share price may be impacted as Mitsubishi Tanabe Pharma's drug looks to seek approval. 

The Hold rating is retained and the target price decreases to $23.14 from $31.78.

This report was published on February 24, 2022.

Target price is $23.14 Current Price is $22.09 Difference: $1.05
If CUV meets the Moelis target it will return approximately 5% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 3.10 cents and EPS of 40.80 cents.
At the last closing share price the estimated dividend yield is 0.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 54.14.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 4.30 cents and EPS of 68.40 cents.
At the last closing share price the estimated dividend yield is 0.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.30.

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

GEM    G8 EDUCATION LIMITED

Childcare – Overnight Price: $1.30

Canaccord Genuity rates ((GEM)) as Upgrade to Buy from Hold (1) –

2021 results were slightly weaker than Canaccord Genuity expected. The key for the broker is a strong operating performance in the core portfolio. Network optimisation is also having a positive effect on profitability.

The broker observes demand growth is outstripping new supply which bodes well for occupancy growth over the longer term. Estimates for 2023 and 2024 lifted while some short-term headwinds reduce 2022 estimates slightly.

Rating is upgraded to Buy from Hold and the target raised to $1.42 from $1.07.

This report was published on February 23, 2022.

Target price is $1.42 Current Price is $1.30 Difference: $0.12
If GEM meets the Canaccord Genuity target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $1.37, suggesting upside of 5.0%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 4.00 cents and EPS of 7.00 cents.
At the last closing share price the estimated dividend yield is 3.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.8, implying annual growth of 7.6%.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 22.4.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 6.00 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 4.62%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.8, implying annual growth of 34.5%.
Current consensus DPS estimate is 5.0, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 16.7.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $27.11

Jarden rates ((HUB)) as Upgrade to Overweight from Neutral (2) –

Following Hub24's interim results, Jarden upgrades its rating to Overweight from Neutral due to widening margins. These margins are considered to offer greater leverage than peers to strong funds under management (FUM) momentum.

Due largely to stronger platform revenues, 1H underlying earnings (EBITDA) exceeded forecasts by both the broker and consensus by 13% and 16%.

Further investment should help maintain strong net flow trends over the medium term, which tallies with revised FUA guidance implying $10-14bn per year out to FY24. The target price slips to $28.55 from $29.35 after a lower market price earnings ratio was applied.

This report was published on February 23, 2022.

Target price is $28.55 Current Price is $27.11 Difference: $1.44
If HUB meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $34.11, suggesting upside of 29.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 21.30 cents and EPS of 47.00 cents.
At the last closing share price the estimated dividend yield is 0.79%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 57.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.0, implying annual growth of 238.1%.
Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 61.3.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 28.60 cents and EPS of 63.70 cents.
At the last closing share price the estimated dividend yield is 1.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 42.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 60.1, implying annual growth of 39.8%.
Current consensus DPS estimate is 24.3, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 43.9.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources


Shaw and Partners rates ((HUB)) as Buy (1) –

Hub24 delivered 1H results broadly ahead of Shaw and Partners estimates. Upside is expected even above the platform funds under management (FUM) upgrade by management, that already implies $14bn in annual flows up to FY24.

Platform earnings (EBITDA) margins rose 3% half-on-half to 38.8% at 31 December, 2021, in a period when margins for competitors such as Netwealth ((NWL)) fell, points out the analyst.

The brokers' target price rises to $38 from $37.10. Buy.

This report was published on February 23, 2022.

Target price is $38.00 Current Price is $27.11 Difference: $10.89
If HUB meets the Shaw and Partners target it will return approximately 40% (excluding dividends, fees and charges).
Current consensus price target is $34.11, suggesting upside of 29.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 15.50 cents and EPS of 42.80 cents.
At the last closing share price the estimated dividend yield is 0.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 63.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.0, implying annual growth of 238.1%.
Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 61.3.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 22.80 cents and EPS of 57.10 cents.
At the last closing share price the estimated dividend yield is 0.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 47.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 60.1, implying annual growth of 39.8%.
Current consensus DPS estimate is 24.3, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 43.9.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

INA    INGENIA COMMUNITIES GROUP

Aged Care & Seniors – Overnight Price: $5.29

Moelis rates ((INA)) as Upgrade to Buy from Hold (1) –

Following interim results for Ingenia Communities Group, Moelis upgrades its rating to Buy from Hold. There's thought to be a step-change in scale across the developments division and the joint venture with Sun communities.

Implied in the group's FY22 guidance for 475 settlements is a strong 2H, explains the broker.

The analyst likes the defensive-growth annuity stream across the under-supplied manufactured housing estates (MHE) retirement market. Moreover, the company's large network of holiday parks is considered leveraged to strong demand for domestic travel.

The target price falls to $6.22 from $6.79.

This report was published on February 23, 2022.

Target price is $6.22 Current Price is $5.29 Difference: $0.93
If INA meets the Moelis target it will return approximately 18% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 12.20 cents and EPS of 24.30 cents.
At the last closing share price the estimated dividend yield is 2.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.77.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 13.50 cents and EPS of 27.00 cents.
At the last closing share price the estimated dividend yield is 2.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.59.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

JLG    JOHNS LYNG GROUP LIMITED

Building Products & Services – Overnight Price: $7.50

Bell Potter rates ((JLG)) as Upgrade to Buy from Hold (1) –

Following another record (1H) result for Johns Lyng Group, Bell Potter raises its rating to Buy from Hold after a 10% beat versus forecasts. The beat stemmed from the performance of the insurance building & restoration services (IB&RS) segment.

Within that segment there were strong job volumes for business-as-usual (BAU) and catastrophe (CAT) insurance, explains the analyst.

Following the acquisition of Reconstruction Experts, Bell Potter sees potential upside organically, and by acquisition into additional US states and adjacent services.

Management upgraded FY22 guidance by around 12%, and the broker's earnings estimates for FY23 are 7% ahead of current guidance. The target rises to $8.70 from $8.50.

This report was published on February 23, 2022.

Target price is $8.70 Current Price is $7.50 Difference: $1.2
If JLG meets the Bell Potter target it will return approximately 16% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 6.80 cents and EPS of 14.50 cents.
At the last closing share price the estimated dividend yield is 0.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 51.72.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 8.30 cents and EPS of 19.40 cents.
At the last closing share price the estimated dividend yield is 1.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 38.66.

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


Canaccord Genuity rates ((JLG)) as Upgrade to Buy from Hold (1) –

Johns Lyng Group reported 31.6% earnings growth in the first half, in line with Canaccord Genuity's forecasts. Across the board growth, but 62% growth in Catastrophic Events earned the segment a $6.4m guidance upgrade to $11.6m given the opportunity pipeline. 

Catastrophic Events' strong first half was supported by a $32m revenue benefit for Bushfire Recovery Victoria work, which wil provide an additional $14m in the second half and $55m in FY23. Group earnings guidance was also upgraded to $78.7m. 

A strong earnings outlook sees the rating upgraded to Buy from Hold while the target price decreases to $8.51 from $8.70.

This report was published on February 24, 2022.

Target price is $8.51 Current Price is $7.50 Difference: $1.01
If JLG meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 6.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 0.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 50.00.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 9.00 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 1.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.67.

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


Goldman Sachs rates ((JLG)) as Buy (1) –

Following Johns Lyng Group's interim results, Goldman Sachs believes a strong FY22 is in prospect. The broker now sits 25% above what is considered conservative catastrophe (CAT) guidance and in-line with business-as-usual (BAU) upgraded guidance. 

After incorporating earnings changes and making slight adjustments to capex assumptions, the broker's target falls -3.2% to $9.00. As this target represents over 23% upside to the prevailing share price, the Buy rating is kept.

In the US, management is looking to leverage the Steamatic footprint to expand the newly-acquired Reconstruction Experts beyond the current four US states. 

This report was published on February 23, 2022.

Target price is $9.00 Current Price is $7.50 Difference: $1.5
If JLG meets the Goldman Sachs target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year FY22 dividend of 7.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 0.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 50.00.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 11.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 1.47%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.71.

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

SOM    SOMNOMED LIMITED

Medical Equipment & Devices – Overnight Price: $1.85

Wilsons rates ((SOM)) as Upgrade to Overweight from Market Weight (1) –

Following largely pre-announced 1H results for SomnoMed, Wilsons upgrades its rating to Overweight from Market-weight in the belief a historical market barrier for oral appliance therapy (OAT) may be overcome. The $2.40 target price is unchanged.

The company has a new oral appliance, Rest Assure, which allows daily efficacy, in addition to compliance data. This allows objective comparisons of treatment effectiveness between continuous positive airway pressure (CPAP) and OAT for sleep apnoea patients.

The broker expects clinical study data will eventually support clinical guideline changes along with reimbursement support, providing confidence in the growth outlook for the US business.

Wilsons stresses such connectivity and data feedback was revolutionary for ResMed's CPAP business and believes this can be just as impactful for OAT adoption.

This report was published on February 23, 2022.

Target price is $2.40 Current Price is $1.85 Difference: $0.55
If SOM meets the Wilsons target it will return approximately 30% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Wilsons forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 37.00.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 3.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 56.06.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

WSP    WHISPIR LIMITED

Cloud services – Overnight Price: $1.88

Shaw and Partners rates ((WSP)) as Buy (1) –

According to Shaw and Partners, Whispir delivered a super strong 1H result with both revenue and earnings assisted by covid-related (healthcare) transactional revenues. While revenue is always welcome, it's felt the company's reputation was enhanced.

In addition, annual recurring revenue (ARR) in the US almost doubled.

Taking the above positives into account, the broker feels the path to cash breakeven has been substantially de-risked.

The analyst points out peers in the US are trading on much higher multiples. The Buy rating and $4.85 target are retained.

This report was published on February 23, 2022.

Target price is $4.85 Current Price is $1.88 Difference: $2.97
If WSP meets the Shaw and Partners target it will return approximately 158% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 15.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.97.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 16.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.60.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources


Disclaimer:
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.

As part of emerging new trends overseas, The Australian Broker Call *Extra* Edition also includes providers of sponsored research. Readers should bear in mind, sponsored research, while not necessarily of lower quality, has the embedded complication that the company that is the subject of the research has paid for this research. Providers of sponsored research that can potentially be included in this Report are Breakaway Research, Edison Investment Research, Independent Investment Research, NDF Research, Pitt Street Research, and TMT Analytics.

Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.

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CHARTS

ABB AKE CTD CUV GEM HUB INA JLG NWL SOM WSP

For more info SHARE ANALYSIS: ABB - AUSSIE BROADBAND LIMITED

For more info SHARE ANALYSIS: AKE - ALLKEM LIMITED

For more info SHARE ANALYSIS: CTD - CORPORATE TRAVEL MANAGEMENT LIMITED

For more info SHARE ANALYSIS: CUV - CLINUVEL PHARMACEUTICALS LIMITED

For more info SHARE ANALYSIS: GEM - G8 EDUCATION LIMITED

For more info SHARE ANALYSIS: HUB - HUB24 LIMITED

For more info SHARE ANALYSIS: INA - INGENIA COMMUNITIES GROUP

For more info SHARE ANALYSIS: JLG - JOHNS LYNG GROUP LIMITED

For more info SHARE ANALYSIS: NWL - NETWEALTH GROUP LIMITED

For more info SHARE ANALYSIS: SOM - SOMNOMED LIMITED

For more info SHARE ANALYSIS: WSP - WHISPIR LIMITED