| Agl Energy Limited. |
AGL |
Credit Suisse lowers Agl Energy Limited. (AGL) price target from $14.80 to $13.70. Retains underperform rating. Predicts falling wholesale prices will hurt earnings from FY21. |
| Afterpay Limited |
APT |
Morgan Stanley raises Afterpay Limited (APT) price target from $36 to $101. Upgrades rating from equalweight to overweight. Cites accelerating sales growth, better than expected quality control on customers. |
| Alumina Limited |
AWC |
Citi lowers Alumina Limited (AWC) price target from $1.80 to $1.60. Downgrades rating from buy to neutral. Downgrades CY20/21 earnings by approx. 4% on the back of higher AUD forecasts. |
| Alumina Limited |
AWC |
Macquarie retains underperform rating on Alumina Limited (AWC). Retains $1.20 price target. Cites concerns regarding transfer pricing review undertaken by the Australian Taxation Office. |
| Alumina Limited |
AWC |
Credit Suisse retains neutral rating on Alumina Limited (AWC). Retains $1.65 price target. Notes market is overlooking the potential of AWC defending position regarding ATO transfer pricing ruling. |
| Alumina Limited |
AWC |
Morgan Stanley retains overweight rating on Alumina Limited (AWC). Retains $2.00 price target. Expects Alcoa to contest ATO ruling. If successful, possible upside because has transferred 50% of the tax assessed amount ($107m) to the ATO as prepaid tax asset on the balance sheet. |
| Alumina Limited |
AWC |
UBS retains buy rating on Alumina Limited (AWC). Retains $2.00 price target. Notes not surprised by transfer pricing ruling. |
| Breville Group Limited |
BRG |
Morgans initiates add rating on Breville Group Limited (BRG). Initiates $27 price target. Notes global exposure, new products and trends since covid-19 around coffee at home as growth drivers. |
| City Chic Collective Limited |
CCX |
Macquarie raises City Chic Collective Limited (CCX) price target from $3.13 to $3.57. Retains outperform rating. Broker believes potential acquisitions may help margins. |
| Csl Limited |
CSL |
Credit Suisse retains outperform rating on Csl Limited (CSL). Retains $323 price target. Sees upside for CSL's response to flu vaccines. |
| Crown Resorts Limited |
CWN |
Credit Suisse lowers Crown Resorts Limited (CWN) price target from $12 to $10.80. Retains outperform rating. Cites growth profile and low gearing. |
| Damstra Holdings Limited |
DTC |
Citi raises Damstra Holdings Limited (DTC) price target from $1.70 to $1.80. |
| Damstra Holdings Limited |
DTC |
Morgan Stanley raises Damstra Holdings Limited (DTC) price target from $1.70 to $1.80. Retains overweight rating. Broker believes pace of acquisitions is rapid, would prefer more organic growth. |
| Fortescue Metals Group Ltd |
FMG |
RBC Capital Markets upgrades Fortescue Metals Group Ltd (FMG) rating from underperform to sector perform. Says "higher Chinese demand has placed iron ore into a more balanced market than our previously too conservative forecasts suggested." |
| Gwa Group Limited. |
GWA |
Macquarie lowers Gwa Group Limited. (GWA) price target from $3.90 to $2.90. Retains neutral rating. Expects weaker FY21 before an improvement in FY22. |
| Insurance Australia Group Limited |
IAG |
Citi retains buy rating on Insurance Australia Group Limited (IAG). Retains $6.60 price target. Expects higher than usual uncertainty in IAG's FY21E guidance. Expects final dividend, and should be around 6 cents per share. |
| Igo Limited |
IGO |
Morgan Stanley retains equalweight rating on Igo Limited (IGO). Retains $4.95 price target. Notes production guidance was ahead of expectations. |
| Igo Limited |
IGO |
UBS retains buy rating on Igo Limited (IGO). Retains $6.20 price target. Notes copper and cobalt production better than expected, gold slightly worse. Likes nickel exposure. |
| Livetiles Limited |
LVT |
Citi raises Livetiles Limited (LVT) price target from $0.28 to $0.29. Retains neutral rating. Predicts revenue to be hit by stronger AUD. |
| Northern Star Resources Ltd |
NST |
Credit Suisse retains outperform rating on Northern Star Resources Ltd (NST). Retains $14.70 price target. Notes attractive free cash flow. |
| Northern Star Resources Ltd |
NST |
Macquarie retains neutral rating on Northern Star Resources Ltd (NST). Retains $14.40 price target. Cites strong balance sheet. |
| Northern Star Resources Ltd |
NST |
Morgan Stanley retains equalweight rating on Northern Star Resources Ltd (NST). Retains $12.20 price target. Downgrades forecasts on below expectation production. |
| Northern Star Resources Ltd |
NST |
UBS raises Northern Star Resources Ltd (NST) price target from $13.20 to $14.25. Retains sell rating. Cites lower grades at Kalgoorlie, lower than expected productivity at Pogo, and costs pressures. |
| Origin Energy Limited |
ORG |
Credit Suisse raises Origin Energy Limited (ORG) price target from $5.30 to $6.20. Retains neutral rating. Cites recovery in oil prices. |
| Rio Tinto Limited |
RIO |
RBC Capital Markets upgrades Rio Tinto Limited (RIO) rating from underperform to sector perform. Raises price target from $77 to $90. Cites positive macro tailwinds and sector valuation dynamics, combined with an attractive 2020 dividend yield. |
| Saracen Mineral Holdings Limited |
SAR |
Macquarie downgrades Saracen Mineral Holdings Limited (SAR) rating from outperform to neutral. Retains $5.40 price target. Cites share price strength. |
| Saracen Mineral Holdings Limited |
SAR |
Morgan Stanley retains equalweight rating on Saracen Mineral Holdings Limited (SAR). Retains $4.70 price target. Notes SAR's guidance was worse than expected. |
| Saracen Mineral Holdings Limited |
SAR |
UBS downgrades Saracen Mineral Holdings Limited (SAR) rating from buy to neutral. Raises price target from $5.60 to $6.30. Cites production guidance was below expectations. |
| Sonic Healthcare Limited |
SHL |
Citi raises Sonic Healthcare Limited (SHL) price target from $28.90 to $33. |
| Sonic Healthcare Limited |
SHL |
Morgan Stanley raises Sonic Healthcare Limited (SHL) price target from $28.90 to 33. Retains overweight rating. Cites likely contribution to earnings from high margin covid-19 testing. |