Australian Broker Call *Extra* Edition – Apr 27, 2022

Daily Market Reports | Apr 27 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)

AIS   ALX   AMS   ANZ   BHP   BRL   BXB   CBA   CGF   CU6   DOC   DRR   EDV   EVN (2)   HUB   JHG   LME   MIN   NAB   NWL   OZL   PPT   RBL   SGP   STO   WBC  

AIS    AERIS RESOURCES LIMITED

Copper - Overnight Price: $0.13

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

Aeris Resources has updated the outlook for Tritton copper operations. Annual copper production targets for FY23 and FY24 are 20-22,000t and 21-23,000t, respectively. Drilling reports also signal a 6m thick massive to semi-massive sulphide interval.

After a disappointing March quarter, with low mined output at both Tritton and Cracow, Bell Potter cuts FY22 earnings forecast by -33% amid downgraded guidance for Cracow.

A Buy rating is maintained. Target is raised to $0.25 from $0.21.

This report was published on April 22, 2022.

Target price is $0.25 Current Price is $0.13 Difference: $0.12
If AIS meets the Bell Potter target it will return approximately 92% (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 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.50.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 4.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.10.

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

ALX    ATLAS ARTERIA

Infrastructure & Utilities - Overnight Price: $6.85

Jarden rates ((ALX)) as Overweight (2) -

Jarden believes the re-election of Emmanuel Macron as the French president will allay market concerns regarding talk of nationalisation, reducing the regulatory risks.

Over the medium to longer term, the broker expects investment opportunities for Atlas Arteria from a resumption of the 2018 infrastructure agenda.

The main attraction in the stock, Jarden believes, is a relatively high dividend compared with industry peers and opportunities in Europe, while the potential change in the tolling regime and regulatory framework for Dulles Greenway could unlock value. Overweight rating and $7 target maintained.

This report was published on April 22, 2022.

Target price is $7.00 Current Price is $6.85 Difference: $0.15
If ALX meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $6.78, suggesting downside of -1.1%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 37.20 cents and EPS of 38.00 cents.
At the last closing share price the estimated dividend yield is 5.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 52.0, implying annual growth of 204.6%.
Current consensus DPS estimate is 41.4, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 13.2.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 49.10 cents and EPS of 47.50 cents.
At the last closing share price the estimated dividend yield is 7.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 57.0, implying annual growth of 9.6%.
Current consensus DPS estimate is 48.1, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 12.0.

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

AMS    ATOMOS LIMITED

Consumer Electronics - Overnight Price: $0.73

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

Atomos has launched two new products, Atomos Connect and Shogun Connect. The company has also acquired a partnership with Frame.io, and Adobe company. Guidance has been reiterated for revenue of $95m with a 12-15% EBITDA margin.

The new products will mean the company moves towards capturing revenue through the value chain via product and subscriptions compared with a predominantly hardware focus previously.

Shaw and Partners is confident revenue guidance will be achieved in FY22 and retains a Buy rating. Target is $1.80.

This report was published on April 22, 2022.

Target price is $1.80 Current Price is $0.73 Difference: $1.07
If AMS meets the Shaw and Partners target it will return approximately 147% (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 23.55.

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 14.31.

Market Sentiment: 1.0
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