Equities

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.

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.

AIS has reported preliminary September quarter 2023 production results from its four operations. Our target price lifts 4% to $0.30/sh and we retain our Buy recommendation.

In this note we review the most recent indicators for GNC near term and the attractiveness of expanding oilseed crush capacity in the medium term in light of through the cycle canola acreage and production expansion. Our Buy rating remains unchanged.

We have revised our forecasts for Altium post the release of the FY23 result last month and have made some modest changes. We have increased the Price Target up 10% to $44.00, while maintaining a Hold rating.