Australian Broker Call *Extra* Edition – Apr 04, 2022

Daily Market Reports | Apr 04 2022

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)

COI   PPS   QUB   SGM   SIG   STN   TAH   TWE   UWL (2)  

COI    COMET RIDGE LIMITED

NatGas - Overnight Price: $0.18

Bell Potter rates ((COI)) as Buy (1) -

Comet Ridge has received the necessary government approvals for its acquisition of a 30% stake in the Mahalo gas project. Joint venture documentation with Santos ((STO)) is underway with completion expected in the June quarter according to Bell Potter.

With production tests of the Mahalo North wells expected, the broker notes Comet Ridge will solidify its position with appraisal of the project's gas production. 

The Buy rating is retained and the target price increases to $0.25 from $0.19.

This report was published on April 1, 2022.

Target price is $0.25 Current Price is $0.18 Difference: $0.07
If COI meets the Bell Potter target it will return approximately 39% (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 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 30.00.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 25.71.

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

PPS    PRAEMIUM LIMITED

Wealth Management & Investments - Overnight Price: $0.70

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

Praemium has announced changes to its management team, including a new CEO and COO, as the last step in its future growth strategy, but Shaw and Partners notes the appointment of new management suggests Netwealth Group's ((NWL)) bid is no more.

The apparent cessation of the bid drives the broker to remove its 30% premium, resulting in a target price decline. Elsewhere, high costs have impacted on first half results and full year guidance, and the broker anticipates market reaction is likely negative.

The Buy rating is retained and the target price decreases to $1.30 from $1.70.

This report was published on March 30, 2022.

Target price is $1.30 Current Price is $0.70 Difference: $0.6
If PPS meets the Shaw and Partners target it will return approximately 86% (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 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 350.00.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 77.78.

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

QUB    QUBE HOLDINGS LIMITED

Transportation & Logistics - Overnight Price: $3.11

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

Jarden notes Australian container volume movements remain robust, with movements in February only -6.4% below all-time peak levels in October 2020.

Despite this statistic, the broker stays conservative on its Qube Holdings' forecasts as inventory rebuilds at retailers begin to slow. Additionally, the impact of contributions from prior-year acquisitions in the container division is diminishing.

The Buy rating and $3.65 target price are retained.

This report was published on March 30, 2022.

Target price is $3.65 Current Price is $3.11 Difference: $0.54
If QUB meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $3.32, suggesting upside of 6.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 EPS of 8.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.16.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.6, implying annual growth of 98.8%.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 32.4.

Forecast for FY23:

Jarden forecasts a full year FY23 EPS of 10.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.2, implying annual growth of 16.7%.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 27.8.

Market Sentiment: 0.5
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