21 November 2023
Telstra Group (TLS): Optionality provides upside
We initiate coverage on telecommunications and technology company Telstra, with a price target of $4.15.
31 October 2023
Fortescue Metals Group (FMG): Soft start to FY24
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.
31 October 2023
Task Group Holdings (TSK): Following the rails
TSK reported a 2Q24 update outlining continued strong momentum regarding client wins, deployments and cash flows. We maintain our Buy recommendation and reduce our Price Target to $0.57/sh (previously $0.62/sh).
31 October 2023
Clean Seas Seafood (CSS): A year of consolidation
CSS’s AGM highlighted a more sombre trading update than we would have expected, with sales volumes broadly flat YOY and frozen inventories building. We downgrade our rating from Buy to Hold.
13 October 2023
Clinuvel Pharmaceuticals (CUV): The Bronze Age
Clinuvel (CUV) is one of very few ASX-listed biopharma companies directly commercialising novel pharmaceuticals across the US and EU in a highly profitable manner. We initiate coverage with a Buy rating and a Price Target of PT $24.00.
11 October 2023
Eagers Automotive (APE): Get big or go home
Eagers announced it has entered into a non-binding agreement to acquire a portfolio of dealerships and key strategic properties located across Melbourne and the Mornington region of Victoria from a group of companies associated with Nick Politis.