Ideas

EGL has provided a trading update for FY23e ahead of Bell Potter forecasts.

As fiscal year 2023 closes out, a review of the final quarter showed some notable highlights─the most significant of those being the sheer resilience of world equity markets in spite of encountering some very significant headwinds.

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.