0216 GMT - Telstra's mobile price rises have further reduced risks to fiscal 2027 earnings, Jarden analysts reckon. They tell clients in a note that the May increases to prepaid and postpaid prices are slightly stronger than expected, which is positive for mobile service revenue. Citing the price rises as well as the Australian telco's continuing cost discipline, AI-driven efficiencies and inflation-linked broadband growth in its fixed infrastructure business, they lift their target price by 2.0% to A$5.05 and maintain a neutral rating. Shares are up 0.1% at A$5.345. (stuart.condie@wsj.com)
0139 GMT - Myer's bull at Canaccord Genuity says the department-store operator's foundations look stronger now that it has its costs under control. Analyst Allan Franklin relays to investors the company's observation that it's been working for some time in a tough consumer environment, with management seemingly confident in the near-term trajectory. He concedes in a note that December and January trading was softer than some had expected, and lowers his forecasts on the expectation of increased promotional activity. However, he keeps a buy rating on the stock. Target price falls 7.6% to A$0.73. Shares are up 5.2% at A$0.305. (stuart.condie@wsj.com)
0055 GMT - Life360's bull at Bell Potter doesn't see much chance that the location-app developer upgrades its full-year guidance with its 1Q trading update. Analyst Chris Savage reckons that a small beat to 1Q earnings expectations is possible, but points out that the dual-listed company is unlikely to change its outlook so early in the year. He adds that expectations for the March quarter are quite modest. Life360 does have a track record of raising guidance but didn't do so until 2Q last year, he says. Bell Potter trims its target price on Life360's Australia-listed stock 5.6% to A$37.75 and maintains a buy rating. Shares are up 2.2% at A$19.83. (stuart.condie@wsj.com)
0044 GMT - National Australia Bank gets a new bear at Morgan Stanley, where it is seen as the local lender with most to lose from a broader economic slowdown. Lowering his recommendation to underweight from equal-weight, analyst Richard E. Wiles tells clients in a note that the probability of both earnings downgrades and trading multiple de-ratings across the sector is rising. The investment bank's macro team sees tightening fiscal policy and a global energy shock as threats to economic growth. Wiles says that NAB's larger exposure to small- and medium-sized enterprises makes it the most vulnerable. Target price falls 8.5% to A$39.80. Shares are up 1.6% at A$43.45. (stuart.condie@wsj.com)
0029 GMT - Telstra's move to raise prices earlier than UBS analysts had expected is seen at the investment bank as offsetting the impact of a likely slowdown in subscriber growth. The analysts had been expecting Telstra to lift its mobile prices in July, but Australia's largest telco is pushing through changes in May. The benefit to average revenue per user "continues to offer us comfort for the sector to continue to extract meaningful price growth," they write in a note. The analysts are watching underlying subscriber trends following a material slowdown in postpaid services over the December half. The price rises could drive elevated churn rates, they add. UBS lifts its target price by 1.9% to A$5.30 and keeps a neutral rating on the stock, which is up 0.1% at A$5.345. (stuart.condie@wsj.com)
0018 GMT - Cochlear's bulls at UBS reassure investors that any impact on demand from gene therapies for congenital hearing loss remains many years away. Analysts at the investment bank acknowledge that therapy efficacy data is encouraging but stress that there will be no near-term material impact on the Australia-listed hearing-implant maker. For now, they tell clients in a note that they expect Cochlear's new Nexa implant to boost the company's market share. A recent sell-off in the stock is just an opportunity, they add. UBS keeps a buy rating and A$302.00 target price on the stock, which is up 1.5% at A$163.77. (stuart.condie@wsj.com)
2225 GMT - Veem's share price is down nearly 70% since the start of October after the company slugged investors with two major downgrades and a A$24.8 million gyrostabiliser related writedown. Still, Ord Minnett believes Veem has turned a corner on the road to recovery. It upgrades Veem to accumulate, from hold, even as it cuts earnings forecasts for FY 2026-2028 by 40-67%. Analyst John Lawlor says it will take until FY 2027 for Veem's recovery to be reflected in its financial results. "We remain of the view that Veem has significant submarine, propeller, and defence capabilities which will be highly sought after as global defence budgets increase dramatically over the next decade," Ord Minnett says. Veem ended Tuesday at A$0.58, below Ord Minnett's new A$0.90/share price target. (david.winning@wsj.com; @dwinningWSJ)
2203 GMT - Risks to Treasury Wine Estates's earnings and balance sheet are becoming more concerning, says Jefferies. They overshadow a very low multiple, given the value of Treasury Wine's land, inventory and its high-end Penfolds wine brand. Jefferies reduces its price target on Treasury Wine by 20% to A$4.00/share. "We cut our estimates for Treasury Americas and Collective from FY27 onwards by 6-8% to reflect our view that U.S. distributor disruption will be ongoing," analyst Michael Simotas says. It highlights RNDC's sale of 11 markets to Reyes Beverage Group. RNDC distributes for Treasury Wine in nine of these markets. Jefferies sees potential for significant disruption risk and reduced focus on wine, particularly in the seven markets Reyes already operates in. Treasury Wine ended Tuesday at A$3.55. (david.winning@wsj.com; @dwinningWSJ)
2208 GMT - Among Australia-listed uranium miners, Lotus Resources has been hardest hit by concerns about raw materials supply due to the Iran conflict. Lotus's share price has almost halved since the start of March. Ord Minnett says Lotus's supplies of acid and sulphur look secure at present, but fuel is more precarious. "Lotus's diesel forward orders and stocks should see it through to early July, but supply is refined in the Middle East where the duration of the transport blockages and extent of refinery damage are uncertain," analyst Matthew Hope says. Lotus is standing still on July orders to see how volatility plays out. "Disruption cannot be ruled out as it depends on the conflict," Ord Minnett says. Lotus ended Tuesday at A$1.205, below Ord Minnett's A$3.90/share target. (david.winning@wsj.com; @dwinningWSJ)
2153 GMT - Jefferies upgrades Imdex to buy from hold, after the mining services company's stock drops 18% over the past two weeks as investors assess the impact of the Iran conflict on the resources sector. "On the assumption that the war ends in the near future and energy prices normalize, we continue to view exploration bullishly," says analyst John Campbell. It notes that small-cap miners raised some US$25 billion prior to the conflict. That cash pile is likely to be deployed across FY 2027/2028. Imdex ended Tuesday at A$3.34, below Jefferies's A$4.25/share price target. (david.winning@wsj.com; @dwinningWSJ)
2144 GMT - Sandfire Resources gets a new bull as buzz builds around its Kalkaroo and gold project in South Australia. Jefferies upgrades Sandfire to buy, from hold, citing Kalkaroo as a material growth opportunity for Sandfire. It sees potential for a mine producing between 74,000 and 90,000 tons of copper equivalent annually by 2031. Construction costs, including for a plant capable of processing up to 15 million tons of ore, would be between US$1.47 billion and US$1.77 billion. Jefferies raises its price target by 5.6% to A$19.00/share. It currently includes a A$618 million valuation of Kalkaroo. Sandfire ended Tuesday at A$15.21. (david.winning@wsj.com; @dwinningWSJ)
1515 GMT - European distillers say they welcome a deal to eliminate trade tariffs with Australia. The bloc agreed a free-trade deal with Australia after years of talk that will see the elimination of import duties on a range of European goods, including spirits. The deal "will deliver tangible benefits for EU spirits and help level the playing field with other major spirit drink producers, who already enjoy tariff-free access to Australia," says Pauline Bastidon, trade director at industry association spiritsEUROPE.(joshua.kirby@wsj.com; @joshualeokirby)
(END) Dow Jones Newswires
March 25, 2026 00:00 ET (04:00 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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