Ideas

Eagers announced it has increased its interest in EV Dealer Group Pty Ltd – the national retail joint venture for BYD – from 49% to 80% effective 3rd July, 2023.

We have reviewed our earnings forecasts for FMG in light of higher-than-forecast iron ore prices, which we increase by 4% for FY23 on a marked-to-market basis.

Our analysts provide their sector outlook and top stock picks for June 2023.

Johns Lyng (JLG) has provided earnings guidance for FY23e. We downgrade our recommendation to Hold.

Perenti (PRN; not rated) and DDH have announced that they have entered into a binding Scheme Implementation Agreement (SIA) pursuant to which PRN will acquire 100% of the fully paid ordinary shares in DDH.

We initiate coverage of Retail Food Group (RFG) with a Buy rating at a $0.13/share Price Target. As Australia’s largest multi-brand retail food franchise owner in Quick service restaurants (QSR) and Coffee, the company franchises and operates stores in mass brands, Donut King & Gloria Jeans and other mid-market brands such as Crust Pizza in ANZ, US and EMEA.