0402 GMT - Audinate's bull at Canaccord Genuity reckons that the stock's revenue multiple is too low given the audio-visual tech company's market leadership and widened product range. Analyst Owen Humphries tells clients in a note that Audinate's new Iris Studio--which allows cloud-based remote control of cameras and other devices through a web browser interface--extends the Australia-listed company's reach into distributed production and broadcast workflows. Potential subscribers include sports broadcasters, universities and governments, Humphries says. He anticipates revenue acceleration, helped by cost reductions in Audinate's video division. His forecasts imply an enterprise value of 4.5 times fiscal 2026 sales revenue. Canaccord Genuity keeps a buy rating and A$8.50 target price on the stock, which is up A$0.4% at A$4.53. (stuart.condie@wsj.com)
0352 GMT - Uncertainty over Bendigo & Adelaide Bank's anti-money laundering compliance could limit any valuation upside from the lender's latest earnings-accretive acquisition, UBS analysts warn. They point out that the Australian regional lender has yet to give any guidance on the possible operational and financial impacts from its self-reported issues. Higher capital requirements and remedial costs are among the potential impacts, they tell clients in a note. They do see positives--including from the RACQ book acquisition and digital bank Up, which is now profitable. However, they cut their earnings forecasts, and stay neutral on the stock, while lowering the target price by 16% to A$10.95. Shares are up 0.5% at A$10.43. (stuart.condie@wsj.com)
0249 GMT - Premier Investments' bulls at UBS see three good reasons to stay positive on the Australian retailer. Analysts at the investment bank point to the strong domestic performance of sleepwear chain Peter Alexander, Premier's stake in small-appliance maker Breville, and the significant year-to-date underperformance of its stock relative to Australia's small ordinaries index. These combine to more than offset Peter Alexander's U.K. startup costs and weakness in Premier's Smiggle stationery business. The analysts cut the stock's target price by 21% to A$19.00 on Smiggle-related cuts to their earnings forecasts. UBS keeps a buy rating on the stock, which is up 1.25% at A$15.41. (stuart.condie@wsj.com)
0031 GMT - Premier Investments keeps its bulls at Morgan Stanley despite ongoing uncertainty at one of the retailer's two key units. The MS analysts warn that the absence of a permanent boss at the Smiggle stationery business adds to a murky earnings outlook amid continuing sales weakness, particularly in the U.K. They don't expects a meaningful recover in sales until up to 12 months after Premier appoints a new managing director to the business. More positively, they see the Peter Alexander sleepwear unit's record Black Friday performance setting it up well for the Christmas period. MS trims its target price 14% to A$20.60 but keeps an overweight rating on the stock, which is down 0.2% at A$15.19. (stuart.condie@wsj.com)
0018 GMT - Investors would be wise to wait for Premier Investments' next update before jumping on the Australian retailer's beaten-down stock, Macquarie analysts say. They concede that the stock looks cheap following its 16% dive at the end of last week, but tell clients in a note that they don't know how deeply the company's challenges run. They want more detail from the Australian company about whether weakness in consumer spending is confined to its Smiggle stationery business. The worry is that it extends to the Peter Alexander sleepwear chain. Macquarie cuts its target price 22% to A$16.20 and stays neutral on the stock, which is down 0.3% at A$15.175. (stuart.condie@wsj.com)
0011 GMT - Challenger's bull at Citi reiterates his buy rating on the stock despite risk that the Australian wealth manager's capital returns could disappoint more optimistic expectations. Analyst Nigel Pittaway tells clients in a note that he still sees medium-term upside from the prudential regulator's proposed changes to its capital settings. He concedes that the size and timing of any resulting capital returns from Challenger could fall short of some investors' hopes, but is comfortable with the thought that releases from changing asset allocation could potentially take several months. Citi keeps a A$10.25 target price on the stock, which is down 1.1% at A$9.01. (stuart.condie@wsj.com)
2357 GMT - Guzman Y Gomez's bear at Citi sees chances of a first-half revenue miss easing slightly with the Australian fast-food operator's price rises. Analyst Sam Teeger reckons that the Mexican-themed franchiser has raised its prices on core menu items by about 1.4% over the past month. He tells clients in a note that this could lower the risk that GYG falls short of consensus expectations for 4.6% same-store sales growth in the first half of its 2026 fiscal year. He doesn't see much impact on volumes due to the relatively small increase, but warns that risks to the stock remain skewed to the downside. Citi has a sell rating and A$21.05 target price on the stock, which is up 0.2% at A$22.36. (stuart.condie@wsj.com)
NRW Holdings has pleasantly surprised Citi with its recent contract wins, says analyst William Park. "NRW continues to demonstrate despite its solid topline visibility," Park says in a note. Citi estimates NRW could have up to 97% of FY 2026 revenue covered after NRW's Fredon won a number of data-center contracts. "For us, the key for the next few months is level of precipitation" in Australia's Queensland state, says Park. "Notwithstanding this, we reiterate that risk remains likely to the upside for NRW." Citi reiterates a buy rating and A$5.95 target. NRW ended Friday at A$5.41. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
December 07, 2025 23:03 ET (04:03 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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