Australian Broker Call *Extra* Edition – Apr 11, 2022

Daily Market Reports | Apr 11 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)

AKE   ALG   ALX   AMN   AMS   ASX   BOQ (2)   GOR   MFG   OPY   PGH   WSA  

AMN    AGRIMIN LIMITED

Agriculture - Overnight Price: $0.47

Canaccord Genuity rates ((AMN)) as Buy (1) -

Agrimin has secured offtake agreements for 315,000 tonnes sulphate of potash per annum, or 70% of the Mackay Potash Project's expected production capacity. Canaccord Genuity has pushed back its expected first production from the project to the first half of FY26.

The company's latest agreement with Gavilon Fertilizer adds to offtake agreements already made with SinoChem Fertiliser and Nitron Group for 150,000 tonnes and 115,000 tonnes per annum respectively. 

The Speculative Buy rating is retained and the target price decreases to $0.89 from $1.57 given recent capital raisings.

This report was published on April 7, 2022.

Target price is $0.89 Current Price is $0.47 Difference: $0.42
If AMN meets the Canaccord Genuity target it will return approximately 89% (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 0.00 cents and EPS of minus 1.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 31.33.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 2.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 22.38.

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

AMS    ATOMOS LIMITED

Consumer Electronics - Overnight Price: $0.93

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

Shaw and Partners believes the present time is a good opportunity to acquire shares in Atomos. There's a catalyst is the upcoming product launch likely to occur prior to management's attendance at the National Association of Broadcasters Show in Las Vegas (23 and 27 April).

Apart from this catalyst, the analyst notes shares are trading at a -50% valuation discount to relevant multiples. The Buy rating and $1.80 target price are maintained.

This report was published on April 6, 2022.

Target price is $1.80 Current Price is $0.93 Difference: $0.87
If AMS meets the Shaw and Partners target it will return approximately 94% (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 3.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.00.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of 5.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.24.

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

ASX    ASX LIMITED

Wealth Management & Investments - Overnight Price: $82.64

Jarden rates ((ASX)) as Underweight (2) -

From March trading statistics released by the ASX, Jarden notes futures volumes remain surprisingly weak, while elevated market volatility raised cash equity turnover 26% on the previous corresponding period.

The broker retains its Underweight rating due to a currently elevated valuation and ongoing technology issues at the exchange. The target rises to $75.35 from $74.75.

This report was published on April 6, 2022.

Target price is $75.35 Current Price is $82.64 Difference: minus $7.29 (current price is over target).
If ASX meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $81.62, suggesting downside of -1.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 231.80 cents and EPS of 257.50 cents.
At the last closing share price the estimated dividend yield is 2.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 258.5, implying annual growth of 4.1%.
Current consensus DPS estimate is 231.6, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 32.0.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 246.50 cents and EPS of 273.80 cents.
At the last closing share price the estimated dividend yield is 2.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.18.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 276.5, implying annual growth of 7.0%.
Current consensus DPS estimate is 246.7, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 29.9.

Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources


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