BellPotter Marketing

Accent Ground (AX1) announced a strong FY21 result, although COVID restrictions/lockdowns in July/August have had a material impact on 1H22. Our 12-month price target reduces to $2.90 (previously $3.30), and we retain our Buy rating on the stock.

After Money3 Corporation (MNY) posted an exceedingly strong FY21 result, we have increased our price target to $4.15ps (previously $3.70ps) and retained our Buy recommendation.

BRG announced underlying FY21 EBIT of $136.4m, up 24.1% YoY (on restated basis) and in line with company guidance. Given supply chain risks and a potential transitional demand outlook, we have decreased our Price Target to $30.50 (previously $32.25) and retained a Hold rating.

CBA has posted a solid result despite the expected pandemic impacts and ongoing lingering uncertainty in operating conditions. There were more positives, i.e. strong core volume growth, overall net interest income, other income, asset quality, capital, funding and liquidity – than negatives, i.e. NIM and operating expenses (perhaps for now) – in the result. The rating is now back to a Buy.