Australian Broker Call *Extra* Edition – July 5, 2022

Daily Market Reports | 10:00 AM

Additional reporting on changes in recommendation, valuation, forecast and opinion for stocks listed on the ASX.

In addition to The Australian Broker Call Report, which is published and updated daily (Monday to Friday), FNArena has now added The Australian Broker Call *Extra* Edition, with additional sources of research and listed stock information on the ASX, also expanding the number of stocks that make up the FNArena universe.

A key difference is that the *Extra* edition will not be updated daily, but simply “regularly” based on the availability of appropriate quality content. As such, the *Extra* edition attempts to bridge the gap between daily updates via the Australian broker’s call report and ad-hoc news, which is not always timely for investors eager for the next information update.

Investors using the *Extra* edition as a source of data for their own market research should therefore take into account that information after publication may not be up to date, or wait for a further update by the team of FNArena journalists.

Similar to The Australian Broker Call Report, this *Extra* edition includes concise but limited reviews of recently published research by stock brokers and other experts, which should be viewed as information regarding likely market behavior rather than advice on the titles mentioned. Do not act on the contents of this report without first reading the important information included at the end of this report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently from identified sources. Readers should check the full text of the recommendations and consult with a licensed adviser before making any investment decision.

The copyright of this report belongs to the publisher. Readers will not copy, transmit or distribute this report to anyone else. For more vital information on the sources included, see the bottom of this report.

COMPANIES MENTIONED IN THIS ISSUE

Click on a symbol for quick access.
The number next to the symbol represents the number of brokers covering it for this report – (if more than 1)

BPT BWX BXB CGS CMM COB CSR EVO GEM IDT ILU JHX MCL MFD MMI OBL ORG PAR QAL SGR SRG STA STM TAH TLC TSI

STM SUNSTONE METALS LIMITED

Copper – Price per night: $0.04

Taylor Collison rates ((STM)) as a speculative buy (1) –

Since its March update, Taylor Collison notes that ongoing drilling at Sunstone Metals’ Ecuadorian copper-gold prospects has made further progress, with the broker noting that the results are typical of globally significant porphyry deposits.

The broker pointed out that mineralization on the combined Alba-Brama prospects reaching an area of ​​1,100 mx 400 m and with a depth of at least 400 m has been confirmed.

The company also announced the signing of a letter of intent to acquire the under-explored Verde Chico project. The broker is rated Speculative Buy.

This report was published on June 27, 2022.

The current price is $0.04. Indicative price not assessed.

All consensus data is updated to yesterday. FNArena consensus calculations require a minimum of three sources

TAH TABCORP HOLDINGS LIMITED

Game – Night Price: $1.07

Goldman Sachs Rates ((TAH)) as Neutral (3) –

Key takeaways from Goldman Sachs on Tabcorp Holdings’ inaugural Investor Day include: management’s determination to play a more active role in leveling the playing field with online peers; the company intends to rebalance marketing spend towards digital; plus a stabilization of its digital market share.

The company is geared towards lower capital spending in FY23 towards wagering and a 3% to 4% cost increase in FY22.

Neutral rating retained and target price lowered from $1.07 to $1.10 to reflect lower planned capital spending.

This report was published on June 30, 2022.

The target price is $1.10 The current price is $1.07 Difference: $0.03
Whether TAH reached the Goldman Sachs target, it will return approximately 3% (excluding dividends, fees and charges).
The current consensus price target is $1.16suggesting the reverse of 8.4%(excluding dividends)
The company’s fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year EX22 dividend of 12:00 p.m. cents and EPS of 2.00 cents.
At the last closing price, the estimated dividend yield is 11.21%.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is 53.50.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is 4.8which implies an annual growth of -61.0%.
The current DPS consensus estimate is 11.1implying a prospective dividend yield of 10.4%.
The current consensus estimate of EPS suggests that PER is 22.3.

Forecast for FY23:

Goldman Sachs forecasts a full year AF23 dividend of 3.00 cents and EPS of 4.00 cents.
At the last closing price, the estimated dividend yield is 2.80%.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is 26.75.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is 2.8which implies an annual growth of -41.7%.
The current DPS consensus estimate is 2.0implying a prospective dividend yield of 1.9%.
The current consensus estimate of EPS suggests that PER is 38.2.

Market Sentiment: 0.4
All consensus data is updated to yesterday. FNArena consensus calculations require a minimum of three sources

CCM LOTTERY CORPORATION LIMITED

Game – Night Price: $4.57

Jarden rates ((TLC)) as Neutral (3) –

Jarden reports that UK National Lottery sales for the year ending March 31, 2022 fell -2.5%, thanks to a sharp drop in instant lottery.

The broker notes that powerball earnings have proven resilient, although signs of fatigue may be setting in.

Neutral rating and target price of $4.49 retained.

This report was published on June 30, 2022.

The target price is $4.49 The current price is $4.57 Difference: minus $0.08 (the current price is above the target).
Whether CCM reaches Jarden’s goal, he will return approximately minus 2% (excluding dividends, fees and charges – negative numbers indicate an expected loss).
The current consensus price target is $5.22suggesting the reverse of 14.2%(excluding dividends)
The company’s fiscal year ends in June.

Forecast for FY22:

Jarden plans a full year EX22 dividend of 0.00 cents and EPS of 16.20 cents.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is 28.21.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is 12.1which implies an annual growth of N / A.
The current DPS consensus estimate is N / Aimplying a prospective dividend yield of N / A.
The current consensus estimate of EPS suggests that PER is 37.8.

Forecast for FY23:

Jarden plans a full year AF23 dividend of 12.50 cents and EPS of 3:60 p.m. cents.
At the last closing price, the estimated dividend yield is 2.74%.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is 29.29.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is 17.6which implies an annual growth of 45.5%.
The current DPS consensus estimate is 16.0implying a prospective dividend yield of 3.5%.
The current consensus estimate of EPS suggests that PER is 26.0.

Market Sentiment: 1.0
All consensus data is updated to yesterday. FNArena consensus calculations require a minimum of three sources

ITS TOP SHELF INTERNATIONAL HOLDINGS LIMITED

Food, drink and tobacco – Price per night: $1.08

Canaccord Genuity ((TSI)) purchase rate (1) –

Canaccord Genuity notes that recent industry data suggests that strong market conditions boosted alcohol sales in Australia in the second half, with the broker expecting headwinds affecting previous quarters to ease in the second half. fourth trimester.

The broker expects Top Shelf International to post record fourth-quarter revenue, noting that comments from the company suggested a steep initial cut at Coles liquor stores.

The buy rating is maintained and the target price goes from $2.44 to $1.88.

This report was published on July 1, 2022.

The target price is $1.88 The current price is $1.08 Difference: $0.8
Whether ITS reaches the Canaccord Genuity target, it will earn approximately 74% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity plans a full year EX22 dividend of 0.00 cents and EPS of minus 27.00 cents.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is minus 4.00.

Forecast for FY23:

Canaccord Genuity plans a full year EX23 dividend of 0.00 pennies and EPS of less than 5:00 p.m. cents.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is minus 6.35.

All consensus data is updated to yesterday. FNArena consensus calculations require a minimum of three sources


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