Australian Broker Call
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February 05, 2018
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
Last Updated: 12:10 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, 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.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
| AAD - | ARDENT LEISURE | Downgrade to Lighten from Hold | Ord Minnett |
| GPT - | GPT | Downgrade to Neutral from Buy | UBS |
| HVN - | HARVEY NORMAN HOLDINGS | Downgrade to Underperform from Neutral | Credit Suisse |
| JHX - | JAMES HARDIE | Downgrade to Neutral from Outperform | Credit Suisse |
| Downgrade to Lighten from Hold | Ord Minnett | ||
| MGR - | MIRVAC | Downgrade to Neutral from Buy | UBS |
| PMV - | PREMIER INVESTMENTS | Downgrade to Neutral from Outperform | Credit Suisse |
| SBM - | ST BARBARA | Upgrade to Outperform from Neutral | Macquarie |
AAD ARDENT LEISURE GROUP
Travel, Leisure & Tourism
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Overnight Price: $1.96
Deutsche Bank rates AAD as Hold (3) -
The first half update highlighted mixed conditions. Main Event maintained growth momentum but this was offset by margin pressure from new centres. A recovery continues at Dreamworld but slower than Deutsche Bank expected.
Earnings estimates are downgraded by -16% for FY18 and -12% for FY19. Deutsche Bank maintains a Hold rating and the target is reduced to $1.95 from $2.05.
Target price is $1.95 Current Price is $1.96 Difference: minus $0.01 (current price is over target).
If AAD meets the Deutsche Bank target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.85, suggesting downside of -5.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 4.00 cents and EPS of minus 1.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 1.8, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 108.9. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 5.00 cents and EPS of 2.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.2, implying annual growth of 188.9%. Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 37.7. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates AAD as Downgrade to Lighten from Hold (4) -
The trading update signalled growth had accelerated for Main Event, yet guidance for a break-even result in theme parks and flat US dollar profits at Main Event were less than Ord Minnett was expecting.
EBITDA estimates are lowered by -8% in FY18 and by -9% in FY19. Rating is downgraded to Lighten from Hold. Target is reduced to $1.73 from $1.85.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $1.73 Current Price is $1.96 Difference: minus $0.23 (current price is over target).
If AAD meets the Ord Minnett target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.85, suggesting downside of -5.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 5.00 cents and EPS of 2.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 1.8, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 108.9. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 5.00 cents and EPS of 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.2, implying annual growth of 188.9%. Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 37.7. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $80.03
Macquarie rates CBA as Neutral (3) -
Favourable margin trends and benign credit conditions should deliver CBA a favourable result, the broker suggests, but increasing compliance spending and potential provision for future fines will likely impact.
With management distracted by various inquiries, the broker sees a risk to underlying momentum and thus to CBA's premium valuation. Neutral and $81.50 target retained.
Target price is $81.50 Current Price is $80.03 Difference: $1.47
If CBA meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $78.13, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 447.00 cents and EPS of 582.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 581.1, implying annual growth of 0.6%. Current consensus DPS estimate is 437.9, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 13.8. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 476.00 cents and EPS of 570.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 574.8, implying annual growth of -1.1%. Current consensus DPS estimate is 448.3, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 13.9. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $174.41
Morgan Stanley rates COH as Equal-weight (3) -
Morgan Stanley believes the strong unit growth can now be credibly attributed to management's strategies. The broker envisages upside risk to expectations.
Still, the broker believes the operating margin is likely to be affected by more adverse FX. Equal-weight rating, In-Line industry view. Target is reduced to $158 from $164.
Target price is $158.00 Current Price is $174.41 Difference: minus $16.41 (current price is over target).
If COH meets the Morgan Stanley target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $150.40, suggesting downside of -13.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 304.00 cents and EPS of 434.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 435.4, implying annual growth of 11.7%. Current consensus DPS estimate is 303.9, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 40.1. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 367.30 cents and EPS of 524.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 494.2, implying annual growth of 13.5%. Current consensus DPS estimate is 345.9, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 35.3. |
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $7.86
UBS rates GMG as Neutral (3) -
UBS believes it is time to become more positive on the stock. The discount to the price target does not warrant a Buy rating but the broker considers the world-leading business provides ongoing scope for valuation upgrades.
The broker anticipates another strong mid-year result and increase in guidance. Neutral rating and $8.30 target maintained.
Target price is $8.30 Current Price is $7.86 Difference: $0.44
If GMG meets the UBS target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $8.48, suggesting upside of 7.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 27.60 cents and EPS of 46.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.8, implying annual growth of 5.3%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 29.30 cents and EPS of 48.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.8, implying annual growth of 6.6%. Current consensus DPS estimate is 29.3, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 16.1. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.91
UBS rates GPT as Downgrade to Neutral from Buy (3) -
UBS believes, as 50% of assets are allocated to retail, the portfolio is likely to deliver the largest decline in retail income growth in the second half and in 2018.
The office portfolio remains robust but, given the expected decline in retail, the rating is downgraded to Neutral from Buy. Target is reduced to $5.20 from $5.30.
Target price is $5.20 Current Price is $4.91 Difference: $0.29
If GPT meets the UBS target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $5.30, suggesting upside of 7.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 24.80 cents and EPS of 30.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of -47.2%. Current consensus DPS estimate is 24.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 25.80 cents and EPS of 31.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.7, implying annual growth of 3.6%. Current consensus DPS estimate is 25.9, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 15.5. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.61
Credit Suisse rates GTN as Initiation of coverage with Outperform (1) -
The company's mass reach, short-form advertising platform provides a compelling proposition in Credit Suisse's view. The earnings base is currently depressed by the entry into the US market and the broker considers this an attractive entry point for investors.
Valuation is underpinned by strong growth in Australia, Brazil and Canada. Credit Suisse initiates coverage with an Outperform rating and $3.00 target.
Target price is $3.00 Current Price is $2.61 Difference: $0.39
If GTN meets the Credit Suisse target it will return approximately 15% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 4.38 cents. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 7.50 cents and EPS of 9.82 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HVN HARVEY NORMAN HOLDINGS LIMITED
Consumer Electronics
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Overnight Price: $4.41
Credit Suisse rates HVN as Downgrade to Underperform from Neutral (5) -
Credit Suisse makes minor changes to forecasts, upgrading sales revenue for Slovenia and Asia.
Rating is downgraded to Underperform from Neutral because of an increase in the share price. Target is raised to $4.03 from $3.91.
Target price is $4.03 Current Price is $4.41 Difference: minus $0.38 (current price is over target).
If HVN meets the Credit Suisse target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.22, suggesting downside of -4.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 22.34 cents and EPS of 34.63 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.2, implying annual growth of -12.8%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 12.5. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 20.73 cents and EPS of 32.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.4, implying annual growth of 0.6%. Current consensus DPS estimate is 26.0, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 12.5. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $7.30
Ord Minnett rates IAG as Hold (3) -
The company is due to report first half results on February 14. Ord Minnett envisages tailwinds from rising commercial rates, cost savings and the sale of the Asian operations.
The stock is considered fully valued. Hold rating maintained. Target rises to $7.43 from $6.65.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $7.43 Current Price is $7.30 Difference: $0.13
If IAG meets the Ord Minnett target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $7.01, suggesting downside of -4.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 30.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.3, implying annual growth of -1.9%. Current consensus DPS estimate is 29.6, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 30.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.8, implying annual growth of 6.5%. Current consensus DPS estimate is 32.0, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $28.16
Credit Suisse rates JBH as Underperform (5) -
A stronger December quarter is considered likely and Credit Suisse increases sales growth estimates to 4.5% for the second quarter. FY18 and FY19 forecasts are upgraded by 3% and 4% respectively.
Underperform rating maintained. Target is raised to $21.02 from $19.89.
Target price is $21.02 Current Price is $28.16 Difference: minus $7.14 (current price is over target).
If JBH meets the Credit Suisse target it will return approximately minus 25% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $27.47, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 125.00 cents and EPS of 202.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 208.9, implying annual growth of 35.4%. Current consensus DPS estimate is 134.4, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 13.5. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 119.00 cents and EPS of 189.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 217.8, implying annual growth of 4.3%. Current consensus DPS estimate is 140.1, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 12.9. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JHX JAMES HARDIE INDUSTRIES N.V.
Building Products & Services
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Overnight Price: $23.28
Citi rates JHX as Buy (1) -
Citi analysts spotted another margin beat on "uninspiring volumes and rising inventories". It has reinforced their suspicion this company is about to experience a consensus upgrade cycle, which should bode well for the share price.
Citi retains the Buy rating, while lifting the price target to $27 from $23. Probably the most important statement made in today's report is the following: "Confidence has increased materially on JHX’ ability to deliver double-digit underlying EPS growth for successive years".
EPS estimates have increased but the analysts make the point that confidence has increased more.
Target price is $27.00 Current Price is $23.28 Difference: $3.72
If JHX meets the Citi target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $24.12, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 49.28 cents and EPS of 81.96 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 80.1, implying annual growth of N/A. Current consensus DPS estimate is 50.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 29.1. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 63.55 cents and EPS of 105.82 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 100.4, implying annual growth of 25.3%. Current consensus DPS estimate is 60.9, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 23.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates JHX as Downgrade to Neutral from Outperform (3) -
December quarter net profit was ahead of expectations as margins surprised on the upside. Credit Suisse suspects FY18 results will be ahead of guidance, based on forecasts for 5.2% sales growth in North America.
The broker believes the company is well positioned for an acceleration in US housing activity. However, the elevated valuation and limited potential upside to consensus earnings expectations results in a downgrade to Neutral from Outperform. Target is raised to $24.75 from $20.70.
Target price is $24.75 Current Price is $23.28 Difference: $1.47
If JHX meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $24.12, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 51.87 cents and EPS of 81.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 80.1, implying annual growth of N/A. Current consensus DPS estimate is 50.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 29.1. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 64.84 cents and EPS of 100.73 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 100.4, implying annual growth of 25.3%. Current consensus DPS estimate is 60.9, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 23.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates JHX as Buy (1) -
December quarter results were ahead of expectations because of improved volumes and margins. The company expects price increases of 3% in FY19. James Hardie also signalled customers are returning to its products, albeit slowly.
A Buy rating is retained. Target lifts to $24.11 from $22.42.
Target price is $24.11 Current Price is $23.28 Difference: $0.83
If JHX meets the Deutsche Bank target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $24.12, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 54.47 cents and EPS of 80.41 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 80.1, implying annual growth of N/A. Current consensus DPS estimate is 50.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 29.1. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 66.14 cents and EPS of 106.34 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 100.4, implying annual growth of 25.3%. Current consensus DPS estimate is 60.9, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 23.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates JHX as Outperform (1) -
James Hardie's result beat the broker on a very strong North American margin outcome, suggesting that region is back on track, the broker believes. Outlook commentary suggests margins should remain solid through FY19.
Management has guided to 11% FY18 profit growth but on the result, the broker suggests this looks conservative. Risk is to the upside. Outperform retained, target rises to $26.25 from $24.40.
Target price is $26.25 Current Price is $23.28 Difference: $2.97
If JHX meets the Macquarie target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $24.12, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 53.17 cents and EPS of 82.74 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 80.1, implying annual growth of N/A. Current consensus DPS estimate is 50.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 29.1. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 62.25 cents and EPS of 103.75 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 100.4, implying annual growth of 25.3%. Current consensus DPS estimate is 60.9, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 23.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates JHX as Equal-weight (3) -
Morgan Stanley was impressed with the third quarter as manufacturing issues appear to have been addressed. However, volume growth is lagging. Revised guidance for net profit of US$260-275m appears readily achievable, in the broker's opinion.
Equal-weight rating. Target is raised to $23.00 from $20.50. Cautious industry view.
Target price is $23.00 Current Price is $23.28 Difference: minus $0.28 (current price is over target).
If JHX meets the Morgan Stanley target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $24.12, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 49.28 cents and EPS of 81.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 80.1, implying annual growth of N/A. Current consensus DPS estimate is 50.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 29.1. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 51.87 cents and EPS of 97.26 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 100.4, implying annual growth of 25.3%. Current consensus DPS estimate is 60.9, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 23.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates JHX as Downgrade to Lighten from Hold (4) -
The company's December quarter net profit was ahead of Ord Minnett's expectations. Cost are back on track but the broker believes primary demand growth must return in the coming quarters to justify relative valuation.
Given the recent strong performance Ord Minnett downgrades to Lighten from Hold and raises the target to $21.25 from $20.10.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $21.25 Current Price is $23.28 Difference: minus $2.03 (current price is over target).
If JHX meets the Ord Minnett target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $24.12, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 53.17 cents and EPS of 84.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 80.1, implying annual growth of N/A. Current consensus DPS estimate is 50.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 29.1. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 66.14 cents and EPS of 103.75 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 100.4, implying annual growth of 25.3%. Current consensus DPS estimate is 60.9, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 23.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $1.26
Macquarie rates KAR as Outperform (1) -
Karoon's Dec Q results were uneventful, the broker suggests, with cash falling another -12% as FEED continued for the Echidna development. At the current share price, the stock is trading roughly at its cash valuation.
If Karoon can successfully farm out Echidna later in the year, or acquire long sought-after production in the region, the broker sees upside. Outperform and $1.50 target retained.
Target price is $1.50 Current Price is $1.26 Difference: $0.24
If KAR meets the Macquarie target it will return approximately 19% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 8.40 cents. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 0.00 cents and EPS of minus 8.50 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LLC LEND LEASE CORPORATION LIMITED
Infra & Property Developers
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Overnight Price: $15.68
UBS rates LLC as Neutral (3) -
Since announcing some problems with its engineering projects, UBS notes the stock is down -14.8% and has underperformed the market. The broker believes the issues are not systemic.
Nevertheless, the quality of the result is expected to be poor as the company relies on the Sydney office market for revaluation gains. Neutral rating maintained. Target is reduced to $17.20 from $18.10.
Target price is $17.20 Current Price is $15.68 Difference: $1.52
If LLC meets the UBS target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $17.89, suggesting upside of 14.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 66.50 cents and EPS of 133.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 138.9, implying annual growth of 6.8%. Current consensus DPS estimate is 66.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.3. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 72.20 cents and EPS of 144.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 149.0, implying annual growth of 7.3%. Current consensus DPS estimate is 76.0, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 10.5. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.08
UBS rates MGR as Downgrade to Neutral from Buy (3) -
UBS believes negative news on house prices will start to affect the company, driven by a fall in foreign buyers and capped lending to interest-only buyers. Brisbane apartment settlements have also peaked.
Traditional areas which surprise on the upside are likely to remain muted until the FY18 result, in the broker's opinion. Rating is downgraded to Neutral from Buy. Target is reduced to $2.32 from $2.52.
Target price is $2.32 Current Price is $2.08 Difference: $0.24
If MGR meets the UBS target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $2.38, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 11.10 cents and EPS of 15.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.3, implying annual growth of -51.3%. Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 13.6. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 11.50 cents and EPS of 15.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.9, implying annual growth of -2.6%. Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 14.0. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ONE ONEVIEW HEALTHCARE PLC
Medical Equipment & Devices
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Overnight Price: $2.02
Macquarie rates ONE as Initiation of coverage: Outperform (1) -
Oneview is a global healthcare information technology solutions company, integrating existing disparate technologies into a single user interface at the point of care. Patients can receive bedside information, education and entertainment.
Oneview is poised to capitalise on its first-mover advantage and drive penetration, the broker suggests. Recent contract wins and rising bid activity levels underpin a strong outlook. Coverage initiated with an Outperform rating and $3.50 target.
Target price is $3.50 Current Price is $2.02 Difference: $1.48
If ONE meets the Macquarie target it will return approximately 73% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 42.50 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 25.90 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PMV PREMIER INVESTMENTS LIMITED
Apparel & Footwear
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Overnight Price: $14.67
Credit Suisse rates PMV as Downgrade to Neutral from Outperform (3) -
Value appears less attractive to Credit Suisse after the strong appreciation in the share price. The broker downgrades to Neutral from Outperform.
Target raised to $15.28 from $14.91 because of an increase in the market value of the company's holding in Breville.
Target price is $15.28 Current Price is $14.67 Difference: $0.61
If PMV meets the Credit Suisse target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $15.20, suggesting upside of 3.6% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 60.35 cents and EPS of 77.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 76.4, implying annual growth of 14.4%. Current consensus DPS estimate is 58.1, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 19.2. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 65.52 cents and EPS of 84.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 87.0, implying annual growth of 13.9%. Current consensus DPS estimate is 65.1, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PPT PERPETUAL LIMITED
Wealth Management & Investments
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Overnight Price: $53.27
Morgan Stanley rates PPT as Equal-weight (3) -
Morgan Stanley expects a solid first half result despite recent outflows from the investments business. The focus is expected to be on base fee margins and flows in private wealth.
The broker retains an Equal-weight rating. Target is raised to $52 from $51. Industry view: In-line.
Target price is $52.00 Current Price is $53.27 Difference: minus $1.27 (current price is over target).
If PPT meets the Morgan Stanley target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $51.73, suggesting downside of -2.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 270.00 cents and EPS of 297.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 299.3, implying annual growth of -0.2%. Current consensus DPS estimate is 270.6, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 17.8. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 294.00 cents and EPS of 323.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 319.8, implying annual growth of 6.8%. Current consensus DPS estimate is 290.9, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.72
Macquarie rates SBM as Upgrade to Outperform from Neutral (1) -
Having visited Gwalia, Macquarie sees the potential for a larger production expansion, post the one now underway, than the broker first thought. While the current project will be disruptive in the short to medium term, St Barbara is set to solidify its profitable extension 2km below the surface.
Upgrade to Outperform. Target rises to $4.40 from $3.80.
Target price is $4.40 Current Price is $3.72 Difference: $0.68
If SBM meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $3.54, suggesting downside of -4.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of 32.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of 14.5%. Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 10.2. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 0.00 cents and EPS of 34.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.9, implying annual growth of -6.6%. Current consensus DPS estimate is 8.4, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 11.0. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.79
Macquarie rates SDF as Outperform (1) -
Post equity raise, the broker is no longer restricted on Steadfast. An Outperform rating and $3.30 target are reinstated with the broker noting the company is a direct beneficiary of rising premium rates over the next 24-36 months.
Steadfast's client trading platform should also support medium term earnings growth irrespective of the direction of the cycle, the broker notes, and the bolstered balance sheet will support acquisitions.
Target price is $3.30 Current Price is $2.79 Difference: $0.51
If SDF meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $3.12, suggesting upside of 11.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 7.40 cents and EPS of 12.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.9, implying annual growth of 33.7%. Current consensus DPS estimate is 7.1, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 23.4. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 8.30 cents and EPS of 14.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.4, implying annual growth of 12.6%. Current consensus DPS estimate is 8.4, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.8. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $0.17
Macquarie rates SEH as Outperform (1) -
Sino's Dec Q production met the broker's forecast and the mid-range of guidance. The company has nevertheless delayed the Linxing North plant in order to move to another area offering greater expansion.
The delay is a negative but inconsequential in the face of the timing of Overall Development Plan approval, which the broker expects late this year. Outperform and 20c target retained.
Target price is $0.20 Current Price is $0.17 Difference: $0.03
If SEH meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 0.00 cents and EPS of 0.00 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of 0.40 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SRX SIRTEX MEDICAL LIMITED
Pharmaceuticals & Biotech/Lifesciences
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Overnight Price: $27.39
Morgan Stanley rates SRX as Equal-weight (3) -
The company has entered a binding arrangement with Varian at $28 a share, cash. Morgan Stanley raises its target to reflect the expectation that the stock will trade on sentiment rather than fundamentals.
Equal-weight rating, In-Line industry view retained. Target is raised to $28.00 from $17.70.
Target price is $28.00 Current Price is $27.39 Difference: $0.61
If SRX meets the Morgan Stanley target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $26.80, suggesting downside of -2.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 30.00 cents and EPS of 96.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 100.7, implying annual growth of N/A. Current consensus DPS estimate is 31.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 27.2. |
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 30.00 cents and EPS of 106.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 111.0, implying annual growth of 10.2%. Current consensus DPS estimate is 32.7, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 24.7. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SUL SUPER RETAIL GROUP LIMITED
Automobiles & Components
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Overnight Price: $8.60
Credit Suisse rates SUL as Underperform (5) -
Credit Suisse reduces sales growth expectations for the sports division and increases forecasts for automotive in the first half. FY18 estimates are revised up 0.3% and FY19 downgraded -2.0%.
Underperform retained. Target rises to $7.68 from $7.58.
Target price is $7.68 Current Price is $8.60 Difference: minus $0.92 (current price is over target).
If SUL meets the Credit Suisse target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.37, suggesting upside of 9.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 48.65 cents and EPS of 70.16 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 73.5, implying annual growth of 42.4%. Current consensus DPS estimate is 50.7, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 48.15 cents and EPS of 69.44 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 79.4, implying annual growth of 8.0%. Current consensus DPS estimate is 54.2, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $13.65
Ord Minnett rates SUN as Accumulate (2) -
Ord Minnett believes the company will benefit from a turn in the Australian commercial cycle, although to a lesser extent than Insurance Australia Group ((IAG)). Suncorp reports on February 15.
An Accumulate rating is maintained, given the broker finds valuation support. Target is raised to $15.21 from $13.75.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $15.21 Current Price is $13.65 Difference: $1.56
If SUN meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $14.34, suggesting upside of 5.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 69.00 cents and EPS of 83.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 88.7, implying annual growth of 5.8%. Current consensus DPS estimate is 74.4, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 15.4. |
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 73.00 cents and EPS of 96.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 98.2, implying annual growth of 10.7%. Current consensus DPS estimate is 76.1, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 13.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TLS TELSTRA CORPORATION LIMITED
Telecommunication
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Overnight Price: $3.67
Deutsche Bank rates TLS as Buy (1) -
Post Telstra announcing a non-cash impairment charge of $273m and writing-down the carrying value of its Ooyala business to zero, Deutsche Bank analysts note Telstra is looking to exit from the ad tech part of the Ooyala business, but it still does see a future for the remainder.
Deutsche Bank does not anticipate any impact on shareholder dividends, even though the company will have to pay out circa 100% of reported earnings to meet DPS expectations in February.
Estimates have been slightly pared back. Buy rating retained, price target $4.04 (unchanged).
Target price is $4.04 Current Price is $3.67 Difference: $0.37
If TLS meets the Deutsche Bank target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $3.73, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 22.00 cents and EPS of 28.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 28.3, implying annual growth of -12.9%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 12.8. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 24.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.8, implying annual growth of 8.8%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 11.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $42.32
Credit Suisse rates WES as Neutral (3) -
Credit Suisse upgrades earnings estimates for the resources division. Neutral retained. Target is raised to $42.18 from $41.82.
Target price is $42.18 Current Price is $42.32 Difference: minus $0.14 (current price is over target).
If WES meets the Credit Suisse target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $41.62, suggesting downside of -1.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 198.00 cents and EPS of 266.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 257.8, implying annual growth of 1.2%. Current consensus DPS estimate is 220.7, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 16.4. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 174.00 cents and EPS of 243.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 261.8, implying annual growth of 1.6%. Current consensus DPS estimate is 226.4, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 16.2. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates WES as Neutral (3) -
UBS has reduced forecasts to reflect a weaker performance for Coles and dilution from the divestment of the Curragh mine. The broker believes the earnings outlook has become challenged and growth is harder to come by.
The broker retains a Neutral rating and lowers the target to $41.30 from $47.70.
Target price is $41.30 Current Price is $42.32 Difference: minus $1.02 (current price is over target).
If WES meets the UBS target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $41.62, suggesting downside of -1.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 220.00 cents and EPS of 256.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 257.8, implying annual growth of 1.2%. Current consensus DPS estimate is 220.7, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 16.4. |
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 213.00 cents and EPS of 250.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 261.8, implying annual growth of 1.6%. Current consensus DPS estimate is 226.4, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 16.2. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Summaries
| AAD | ARDENT LEISURE | Hold - Deutsche Bank | Overnight Price $1.96 |
| Downgrade to Lighten from Hold - Ord Minnett | Overnight Price $1.96 | ||
| CBA | COMMBANK | Neutral - Macquarie | Overnight Price $80.03 |
| COH | COCHLEAR | Equal-weight - Morgan Stanley | Overnight Price $174.41 |
| GMG | GOODMAN GRP | Neutral - UBS | Overnight Price $7.86 |
| GPT | GPT | Downgrade to Neutral from Buy - UBS | Overnight Price $4.91 |
| GTN | GTN LTD | Initiation of coverage with Outperform - Credit Suisse | Overnight Price $2.61 |
| HVN | HARVEY NORMAN HOLDINGS | Downgrade to Underperform from Neutral - Credit Suisse | Overnight Price $4.41 |
| IAG | INSURANCE AUSTRALIA | Hold - Ord Minnett | Overnight Price $7.30 |
| JBH | JB HI-FI | Underperform - Credit Suisse | Overnight Price $28.16 |
| JHX | JAMES HARDIE | Buy - Citi | Overnight Price $23.28 |
| Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $23.28 | ||
| Buy - Deutsche Bank | Overnight Price $23.28 | ||
| Outperform - Macquarie | Overnight Price $23.28 | ||
| Equal-weight - Morgan Stanley | Overnight Price $23.28 | ||
| Downgrade to Lighten from Hold - Ord Minnett | Overnight Price $23.28 | ||
| KAR | KAROON GAS | Outperform - Macquarie | Overnight Price $1.26 |
| LLC | LEND LEASE CORP | Neutral - UBS | Overnight Price $15.68 |
| MGR | MIRVAC | Downgrade to Neutral from Buy - UBS | Overnight Price $2.08 |
| ONE | ONEVIEW HEALTHCARE | Initiation of coverage: Outperform - Macquarie | Overnight Price $2.02 |
| PMV | PREMIER INVESTMENTS | Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $14.67 |
| PPT | PERPETUAL | Equal-weight - Morgan Stanley | Overnight Price $53.27 |
| SBM | ST BARBARA | Upgrade to Outperform from Neutral - Macquarie | Overnight Price $3.72 |
| SDF | STEADFAST GROUP | Outperform - Macquarie | Overnight Price $2.79 |
| SEH | SINO GAS & ENERGY | Outperform - Macquarie | Overnight Price $0.17 |
| SRX | SIRTEX MEDICAL | Equal-weight - Morgan Stanley | Overnight Price $27.39 |
| SUL | SUPER RETAIL | Underperform - Credit Suisse | Overnight Price $8.60 |
| SUN | SUNCORP | Accumulate - Ord Minnett | Overnight Price $13.65 |
| TLS | TELSTRA CORP | Buy - Deutsche Bank | Overnight Price $3.67 |
| WES | WESFARMERS | Neutral - Credit Suisse | Overnight Price $42.32 |
| Neutral - UBS | Overnight Price $42.32 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 10 |
| 2. Accumulate | 1 |
| 3. Hold | 15 |
| 4. Reduce | 2 |
| 5. Sell | 3 |
Monday 05 February 2018
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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.
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