Ideas

We have reviewed our Life360 forecasts post the release of the 3Q2023 result a couple of weeks ago and made some minor adjustments. We maintain a Buy recommendation and have decreased our Price Target by 2% to $11.00.

We have updated each valuation for IPD Education used in the determination of our PT for the forecast changes and recent market movements. We upgrade to a Buy recommendation and a price target of $27.00.

AAC reported 1H24 Operating EBITDA ahead or our expectations at $30.1m. Our Buy rating remains unchanged.

We initiate coverage on telecommunications and technology company Telstra, with a price target of $4.15.

Our NPV-based valuation is increased by 4% from $15.53/sh to $16.21/sh on favourable adjustments to our iron ore price and AUD:USD forecasts. We retain our Sell recommendation.