Australian Broker Call

Citi rates ALG as Buy (1) -

Citi has once again updated its views and thoughts on Main Event and has grabbed the opportunity to reiterate its Buy rating for Ardent Leisure.

The positive view is equally supported by increased visitor numbers for Dreamworld, the broker adds. Target remains $1.80.

Target price is $1.80 Current Price is $1.30 Difference: $0.5
If ALG meets the Citi target it will return approximately 38% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 1.0

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

Citi rates APT as No Rating (-1) -

Today's update on the BNPL sector suggests Citi no longer has a rating or price target in place for Afterpay.

Current Price is $73.51. Target price not assessed.

Current consensus price target is $137.00, suggesting upside of 77.8% (ex-dividends)

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.6

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

Morgans rates APT as Hold (3) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

Morgans expects Afterpay will report between 50% and 100% revenue growth on the previous quarter, but will report a profit after tax for the first half. Earnings per share forecasts decrease by more than -10% on expense estimates attributed to global growth. 

The broker notes the buy now pay later sector is facing some negative investor sentiment and strong first half results are required to alleviate. The Hold rating is retained and the target price decreases to $92.00 from $132.00. 

This report was published January 4, 2022. 

Target price is $92.00 Current Price is $73.51 Difference: $18.49
If APT meets the Morgans target it will return approximately 25% (excluding dividends, fees and charges).

Current consensus price target is $137.00, suggesting upside of 77.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.6

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

Morgans rates ASX as Reduce (5) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

ASX's recent monthly trading statistics have driven Morgans to upgrade earnings per share forecasts 1-2% for FY22 and FY23.

The Reduce rating is retained and the target price increases to $68.95 from $67.30.

This report was published January 4, 2022. 

Target price is $68.95 Current Price is $90.36 Difference: minus $21.41 (current price is over target).
If ASX meets the Morgans target it will return approximately minus 24% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $80.70, suggesting downside of -12.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: -0.3

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

Ord Minnett rates ASX as Hold (3) -

The ASX is scheduled to report interim financials on February 10th and Ord Minnett considers the shares fully valued when compared with foreign peers.

Having said so, the broker does acknowledge the shares still have appeal for those investors looking for financial stocks with strong infrastructure- or monopoly-like appeal.

Ord Minnett sees the ASX as an infrastructure-like stock, trading on rich multiples with cyclically strong cash market and listings trends. Rising interest rates could help futures volumes and margin income, but also could hurt relative valuation appeal, explains the broker.

Ord Minnett sticks with its Hold rating while lifting its price target to $86.24 from $82.50 on slightly improved forecasts.

Target price is $86.24 Current Price is $90.36 Difference: minus $4.12 (current price is over target).
If ASX meets the Ord Minnett target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $80.70, suggesting downside of -12.3% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: -0.3

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

Morgans rates CGF as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

Following review Morgans has made slight updates of less than 1% to Challenger's earnings forecasts. 

The Add rating and target price of $7.30 are retained. 

This report was published January 4, 2022. 

Target price is $7.30 Current Price is $6.47 Difference: $0.83
If CGF meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges).

Current consensus price target is $6.27, suggesting downside of -3.8% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.1

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

Morgans rates CPU as Hold (3) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

The broker issued no changes to Computershare's earnings forecasts.

The Hold rating is retained and the target price increases to $18.82 from $17.52.

This report was published January 4, 2022. 

Target price is $18.82 Current Price is $20.70 Difference: minus $1.88 (current price is over target).
If CPU meets the Morgans target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $19.14, suggesting downside of -7.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.1

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

Citi rates FMG as Downgrade to Sell from Neutral (5) -

Citi analysts have downgraded their recommendation for Fortescue Metals' shares to Sell from Neutral. While acknowledging the price of iron ore has surprised to the upside, they find the large valuation gap with peers creates too large a challenge -mathematically- to ultimately be justified.

Citi observes following a strong rally in the share price, Fortescue's valuation is now at a material premium to the broker's DCF-based Net Asset Value (NAV) calculation, as well as vis-a-vis competitors in the sector.

Price target $17.20 (unchanged).

Target price is $17.20 Current Price is $21.12 Difference: minus $3.92 (current price is over target).
If FMG meets the Citi target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $16.79, suggesting downside of -19.6% (ex-dividends)

Forecast for FY22:

Forecast for FY23:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: -0.3

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

Morgans rates GDG as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

The broker issued no updates to Generation Development Group's earnings forecasts. The company is Morgans' third sector stock pick. 

The Add rating and target price of $1.73 are retained.

This report was published January 4, 2022. 

Target price is $1.73 Current Price is $1.40 Difference: $0.33
If GDG meets the Morgans target it will return approximately 24% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 1.0

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

Credit Suisse rates HLS as Outperform (1) -

The rapid spread of omicron over the holiday season has wreaked havoc for Healius, the company battling staff shortages, a sharp rise in demand, and the resulting inability to pool test, which has resulted in lower capacity.

Credit Suisse expects the number of tests performed to fall from 10 tests per 1,000 people per day to two tests per 1,000 people (based on 50,000 daily tests) by FY23.

The broker expects the December half just past will represent peak earnings for Healius, as the testing boom gives way to the recent adoption of rapid antigen testing.

EPS forecasts edge up 1% to 2% for FY22.

Outperform rating retained, given the relatively undemanding valuation and strong balance sheet. Target price steady at $5.55.

Target price is $5.55 Current Price is $4.95 Difference: $0.6
If HLS meets the Credit Suisse target it will return approximately 12% (excluding dividends, fees and charges).

Current consensus price target is $5.50, suggesting upside of 12.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.6

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

Morgan Stanley rates IAG as Underweight (5) -

Morgan Stanley has reported home and motor new business slowed to almost zero in the December quarter.

While Insurance Australia Group appears to be pricing for margin more than its peers, the broker notes this makes negating market share losses difficult. It is Morgan Stanley's opinion pricing needs to rise to protect margins. 

The Underweight rating and target price of $3.75 are retained. Industry view: In-Line.

Target price is $3.75 Current Price is $4.40 Difference: minus $0.65 (current price is over target).
If IAG meets the Morgan Stanley target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $5.00, suggesting upside of 13.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.4

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

Morgans rates IAG as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

The broker upgrades Insurance Australia Group's earnings forecasts between -1% and 8%. The insurer has advised of weather impacts on first half results. 

The Add rating is retained and the target price increases to $5.32 from $5.31.

This report was published January 4, 2022. 

Target price is $5.32 Current Price is $4.40 Difference: $0.92
If IAG meets the Morgans target it will return approximately 21% (excluding dividends, fees and charges).

Current consensus price target is $5.00, suggesting upside of 13.4% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.4

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

Citi rates ING as Buy (1) -

Post profit warning issued by Australia's number one poultry meat supplier, caused by covid-related disruptions, Citi analysts are not yet prepared to throw in the towel, instead highlighting industry volume growth has been strong in H1.

In addition, point out the analysts, Inghams Group has previously shown being quite adept in adjusting for covid-related challenges.

On Citi's updated assumptions, sales might only be impacted to the tune of -4% but the analysts concede the impact at the ebitda level would be higher.

Target price remains $4.55, as does the Buy rating.

Target price is $4.55 Current Price is $3.32 Difference: $1.23
If ING meets the Citi target it will return approximately 37% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting upside of 22.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.5

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

Credit Suisse rates ING as Outperform (1) -

Inghams Group has provided a trading update, providing insight into the conspicuous absence of chicken on supermarket shelves, and Credit Suisse has downgraded EPS estimates.

Production, distribution and sales in the eastern states have all suffered in omicron's wake, raising costs and causing supply chain havoc and operational inefficiency.

Visibility is poor but the broker estimates FY22 EPS will fall -12.2%. FY23-FY24 revisions are more modest at roughly 1.7%, assuming normalisation.

Inghams reports its December-half results on February 18.

Outperform rating retained, the broker expecting a short-term reversal will be followed by a strong recovery in FY23. Target price falls to $4.15 from $4.40.

Target price is $4.15 Current Price is $3.32 Difference: $0.83
If ING meets the Credit Suisse target it will return approximately 25% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting upside of 22.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.5

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

Macquarie rates ING as Neutral (3) -

Inghams Group has provided a trading update, providing insight into the conspicuous absence of chicken on supermarket shelves recently, and Macquarie has downgraded earnings (EBITDA) estimates about -5%.

Production, distribution and sales in the eastern states have all suffered in omicron's wake, raising costs and resulting in the suspension of a number of products.

Management is unable to provide guidance on impact, trading results or the length of disruption, although Macquarie forecasts a shift away from higher margin Foodservice, QSR and value-enhanced products to lower margin wholesale products.

Inghams Group expects production will ramp up quickly when the situation normalises, but who knows when that will be.

EPS forecasts fall -8.2% in FY22, -2.6% in FY23 and -2.2% in FY24.

Neutral rating retained. Target price decreases to $3.46 from $3.70.

Target price is $3.46 Current Price is $3.32 Difference: $0.14
If ING meets the Macquarie target it will return approximately 4% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting upside of 22.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.5

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

Morgans rates KSL as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

The broker issues no updates to Kina Securities' earnings forecasts. 

The Add rating and target price of $1.32 are retained.

This report was published January 4, 2022. 

Target price is $1.32 Current Price is $0.87 Difference: $0.45
If KSL meets the Morgans target it will return approximately 52% (excluding dividends, fees and charges).

The company's fiscal year ends in December.

Forecast for FY21:

Forecast for FY22:

This company reports in PGK. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 1.0

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

Morgans rates LNK as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

The broker issues no update to Link Administration Holdings' earnings forecasts.

The Add rating and target price of $5.51 are retained.

This report was published January 4, 2022. 

Target price is $5.51 Current Price is $5.54 Difference: minus $0.03 (current price is over target).
If LNK meets the Morgans target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

Current consensus price target is $5.58, suggesting upside of 0.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.5

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

Morgans rates MME as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

The broker issues no updates to MoneyMe's earnings forecasts.

The Add rating and target price of $2.57 are retained. 

This report was published January 4, 2022. 

Target price is $2.57 Current Price is $2.08 Difference: $0.49
If MME meets the Morgans target it will return approximately 24% (excluding dividends, fees and charges).

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 1.0

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

Morgans rates MPL as Hold (3) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

The broker upgrades Medibank Private's earnings per share forecasts around 2% for FY22 and FY23. It is Morgans' view that private health insurers currently have the most favourable environment in the sector, with covid tailwinds expected to persist into FY23.

The Hold rating is retained and the target price increases to $3.64 from $3.55. 

This report was published January 4, 2022. 

Target price is $3.64 Current Price is $3.55 Difference: $0.09
If MPL meets the Morgans target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $3.56, suggesting upside of 1.6% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.3

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

Morgans rates NHF as Hold (3) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

The broker updates nib Holdings' earnings per share forecasts by between -1% and 3%. 

The Hold rating is retained and the target price decreases to $7.53 from $7.66.

This report was published January 4, 2022. 

Target price is $7.53 Current Price is $7.01 Difference: $0.52
If NHF meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges).

Current consensus price target is $6.93, suggesting downside of -0.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: -0.1

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

Citi rates PLS as Neutral (3) -

Citi analysts have updated their modeling which has resulted in quite the noticeable increase in their valuation/price target; to $3.60 from $2.50 in early December.

Neutral/High Risk rating retained as the broker opines "We think it's too early to sell". Citi sees price strength lasting for at least the coming six months.

Target price is $3.60 Current Price is $3.52 Difference: $0.08
If PLS meets the Citi target it will return approximately 2% (excluding dividends, fees and charges).

Current consensus price target is $3.06, suggesting downside of -14.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.3

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

Morgans rates QBE as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

Stronger profit margin assumptions, driven by a favourable global insurance pricing environment, encourages Morgans to increase QBE Insurance Group's earnings per share forecasts 8-13% for 2021 and 2022. The broker expects strong attritional claim ratio improvement. 

QBE Insurance Group is Morgans' sector top sector pick. The Add rating is retained and the target price increases to $14.32 from $13.70.

This report was published January 4, 2022. 

Target price is $14.32 Current Price is $12.02 Difference: $2.3
If QBE meets the Morgans target it will return approximately 19% (excluding dividends, fees and charges).

Current consensus price target is $14.24, suggesting upside of 17.8% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY21:

Forecast for FY22:

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

Market Sentiment: 0.8

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

Credit Suisse rates SHL as Downgrade to Neutral from Outperform (3) -

The rapid spread of omicron over the holiday season has wreaked havoc for Sonic Healthcare, the company battling staff shortages, a sharp rise in demand, and the resulting inability to pool test, which has resulted in lower capacity.

Credit Suisse expects the number of tests performed to fall from 10 tests per 1,000 people per day to two tests per 1,000 people (based on 50,000 daily tests) by FY23.

The broker expects the past December half will represent peak earnings for the company, as covid testing gives way to rapid antigen testing. But all of this is inline with consensus forecasts.

The broker downgrades to Neutral from Outperform on valuation grounds. Target price steady at $46.50.

Target price is $46.50 Current Price is $44.10 Difference: $2.4
If SHL meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges).

Current consensus price target is $45.75, suggesting upside of 4.9% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.3

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

Morgan Stanley rates SUN as Equal-weight (3) -

Morgan Stanley has reported home and motor new business slowed to almost zero in the December quarter.

The broker highlights Suncorp Group continues to price more competitively than peers, but notes unless pricing improves there is some margin risk from higher claims and costs as covid motor savings benefits slow.

The Equal-Weight rating and target price of $11.90 are retained. Industry view: In-Line. 

Target price is $11.90 Current Price is $11.55 Difference: $0.35
If SUN meets the Morgan Stanley target it will return approximately 3% (excluding dividends, fees and charges).

Current consensus price target is $13.14, suggesting upside of 12.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.6

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

Morgans rates SUN as Hold (3) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

Morgans lifts Suncorp Group's earnings per share forecasts 2% for FY22 and FY23, assuming improved bank loan growth and bad debt. The insurer has advised of weather impacts on first half results. 

The Hold rating is retained and the target price increases to $12.25 from $12.16.

This report was published January 4, 2022. 

Target price is $12.25 Current Price is $11.55 Difference: $0.7
If SUN meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges).

Current consensus price target is $13.14, suggesting upside of 12.5% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.6

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

Ord Minnett rates TLS as Buy (1) -

Ord Minnett reminds investors Telstra has guided for a strong operational result in the medium term with increased profitability and productivity gains in the fixed business underpinning guidance.

The broker sees further benefits from the monetisation of assets -think InfraCo- and capital inflows from asset sales could well complement good free cashflow in providing scope for further distributions to shareholders.

Ord Minnett retains its Buy rating, regardless of strong share price performance recently, and lifts its price target to $4.85 from $4.60 as the valuation modeling has been rolled forward.

Target price is $4.85 Current Price is $4.10 Difference: $0.75
If TLS meets the Ord Minnett target it will return approximately 18% (excluding dividends, fees and charges).

Current consensus price target is $4.46, suggesting upside of 6.7% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.8

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

Ord Minnett rates TPG as Upgrade to Buy from Hold (1) -

Ord Minnett has upgraded to Buy from Neutral with the TPG Telecom share price seen as too cheaply priced while the telco challenger is also considered a prime beneficiary from the (coming) post-pandemic recovery.

The broker's thesis is based upon growth in subscribers as well as improved mobile pricing. In addition, TPG is equally preparing for the sale of its tower assets in 2022.

Ord Minnett calculates the latter could ad $0.75 (up to) to its valuation for the stock. Target price lifts to $7.45 from $6.80.

Target price is $7.45 Current Price is $5.85 Difference: $1.6
If TPG meets the Ord Minnett target it will return approximately 27% (excluding dividends, fees and charges).

Current consensus price target is $7.74, suggesting upside of 26.1% (ex-dividends)

The company's fiscal year ends in December.

Forecast for FY21:

Forecast for FY22:

Market Sentiment: 0.8

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

Morgans rates TYR as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

Morgans decreases Tyro Payments' earnings per share forecasts -1% and -5% for FY22 and FY23 respectively. The company's first quarter gross profit was softer than expected, and the broker looks to full first half results for further clarity on outlook. 

Tyro Payments is Morgans' second sector pick. The Add rating is retained and the target price decreases to $4.00 from $4.25.

This report was published January 4, 2022. 

Target price is $4.00 Current Price is $2.64 Difference: $1.36
If TYR meets the Morgans target it will return approximately 52% (excluding dividends, fees and charges).

Current consensus price target is $4.13, suggesting upside of 55.1% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.8

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

Citi rates Z1P as Neutral (3) -

Hidden towards the back of a general sector update on the BNPL sector sits Citi's updated price target for Zip Co; $5.85.

Apparently, the change was made in early December.

Neutral rating is still in place.

Target price is $5.85 Current Price is $3.92 Difference: $1.93
If Z1P meets the Citi target it will return approximately 49% (excluding dividends, fees and charges).

Current consensus price target is $6.76, suggesting upside of 69.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.1

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

Morgans rates Z1P as Add (1) -

Morgans has issued an update on its Insurance and Diversified Financials coverage following market updates at the end of the first half. The broker highlights Australian and major global equities indices rose 3-7%, with a majority of the increase in the fourth quarter of 2021.

Morgans expects Zip Co will report between 50% and 100% revenue growth on the previous quarter, but will report a profit after tax for the first half. Earnings per share forecasts decrease by more than -10% on expense estimates attributed to global growth. 

The broker notes the buy now pay later sector is facing some negative investor sentiment and strong first half results are required to alleviate. The Add rating is retained and the target price decreases to $7.54 from $8.56.

This report was published January 4, 2022. 

Target price is $7.54 Current Price is $3.92 Difference: $3.62
If Z1P meets the Morgans target it will return approximately 92% (excluding dividends, fees and charges).

Current consensus price target is $6.76, suggesting upside of 69.0% (ex-dividends)

The company's fiscal year ends in June.

Forecast for FY22:

Forecast for FY23:

Market Sentiment: 0.1

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