Equities

We have reviewed our forecasts post the release of the FY22 result last month for Altium (ALU) and put through modest revenue and EBITDA upgrades of 1%, 2% and 3% in FY23, FY24 and FY25.

We have conducted an analysis of recent data points we monitor for Nufarm (NUF) as indicators of activity.

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.