Equities

We have initiated coverage on Cronos Australia, a medicinal cannabis company that is the market leader in distribution to pharmacies and provides patient consulting services through its clinic business.

Our analysts provide their sector outlook and top stock picks for FY23.

OZL has received an unsolicited, conditional and non-binding indicative proposal from BHP Group Limited (BHP:AU, not rated), to acquire all shares in OZL for A$25.00/sh in cash via scheme of arrangement.

We have highlighted major takeaways from UMG’s recent trading update, including FY22e EBITDA guidance, FY23e EBITDA guidance, balance sheet and earnings drivers.

We expected Q2 to be tough for JHG, but the figures were worse than we expected. Our price target is 18.3% above the current share price and we retain a BUY recommendation.

MIN guided sales of ~225kt of lithium spodumene concentrates for FY22.