0331 GMT - Fortescue's 1Q costs are slightly higher than expected, while realized prices are lower, RBC Capital Markets says. Iron-ore shipments are broadly in line with consensus, though slightly above RBC's forecast. Overall, the result is a minor negative, the broker says. Higher costs are largely due to increased waste movement, which is typical in 1Q, suggesting costs should decline throughout FY 2025. Cash generation is broadly in line with expectations and guidance is unchanged, it says. RBC maintains an outperform rating and a target price of A$21.00. The stock is down 3.3% at A$19.11. ([email protected]; @RhiannonHoyle)

0328 GMT - Fortescue's stock is likely to follow moves in iron-ore prices in the near term, say Jefferies analysts. They aren't optimistic about the outlook for the steel ingredient. "Focus on the iron-ore market remains the key near-term catalyst, which we believe is likely to continue its downward trajectory," the analysts say after Fortescue's 1Q result. Spot iron ore was last priced at $113.15/metric ton, down 8.8% in October and 25% year to date, according to S&P Global Commodity Insights. Jefferies has a hold rating and A$20.00 target on Fortescue. The stock is down 3.1% at A$19.16. ([email protected]; @RhiannonHoyle)

0024 GMT - Macquarie now believes St Barbara will issue fewer shares when raising capital for its Simberi Sulphides project in Papua New Guinea. The bank had assumed that St Barbara would raise A$100 million of equity by issuing shares at A$0.18 each. Its new forecast is to raise that sum through an equity issue at A$0.38/share. That contributes to Macquarie's price target on St Barbara rising 48% to A$0.49/share. Still, the bank downgrades St Barbara to neutral from outperform. St Barbara is down 3.2% at A$0.45. ([email protected]; @dwinningWSJ)

0005 GMT - Capital management by Australian retailers in FY 2024 surprised Morgan Stanley, which thinks more could be in store. Analyst Melinda K. Baxter highlights that retailers' cash buffers have increased and trading conditions are now more predictable. JB Hi-Fi and Super Retail both declared special dividends in FY 2024. MS thinks they are likely to pursue additional capital management again in FY 2025. It projects a A$0.50/share special dividend from Super Retail and a A$0.80/share special dividend from JB Hi-Fi. "It is also worth noting that at this point in the cycle we see limited scope for additional capital to be used for M&A," says MS. ([email protected]; @dwinningWSJ)

2231 GMT - Boss Energy's transition from a developer to a uranium producer continued in 1Q with output of some 89,516 pounds of U3O8, a lightly processed concentrate known as yellowcake. That has Jefferies thinking about how Boss will manage its capital in future. Analyst Mitch Ryan says the focus will be on how Boss leverages its earnings to invest in growth. "This is likely through further expansions at Honeymoon up to its permitted 3.3 million pounds per annum, further inorganic M&A in North America, or strategic building or selling of inventories," Jefferies says. It has a hold call on Boss and raises its price target by 10% to A$3.30/share. Boss ended Wednesday at A$3.60. ([email protected]; @dwinningWSJ)

2223 GMT - Brambles will need to maintain pricing strength in the U.S. through its fiscal second half if the global pallet supplier is to hit its annual targets, Citi analyst Samuel Seow says. Seow tells clients in a note that flat 1Q pricing in Europe could leave the U.S. business with work to do. While 1Q demand from existing U.S. customers was slightly lower compared with the same period a year earlier, Seow is pleased to see overall volumes in the Americas growing by 1%. Citi has a neutral rating and A$18.50 target price on the stock, which is at A$18.57 ahead of the open. ([email protected])

2154 GMT - The recent pullback in Aurelia Metals's share price surprises Ord Minnett. Aurelia's 1Q result was slightly softer than analyst Paul Kaner expected. But it also contained the outcome of Aurelia's study of how to expand its Cobar operation. The study favors an expansion of Aurelia's Peak mill to an annual processing capacity of 1.1 million-1.2 million tons of ore over the restart of facilities at Hera. Ord Minnett sees that as a net positive. Aurelia Metals's shares are down nearly 10% this week to A$0.19. "We see this pullback as an opportunity," says Ord Minnett. It retains a speculative buy call and A$0.27/share price target. ([email protected]; @dwinningWSJ)

0410 GMT - Wilsons' analysts maintain a bullish view on Praemium, noting that the Australian wealth manager's 1Q update supports expectations of operating leverage in fiscal 2025. The company is likely to benefit from price increases and an end to outsized outflows from the acquired Powerwrap business, the analysts say. They add that easing group outflows suggest underlying flows have turned positive and that growth in funds under administration looks healthy. Wilsons holds an overweight rating on the stock, which is up 0.4% at A$0.6375. ([email protected])

0404 GMT - REA Group's bull at Goldman Sachs sees the Australian property advertiser's higher buy yield more than offsetting growth in operating expenses. Analyst Kane Hannan raises his Ebitda forecasts slightly for the next three FYs on the buy-yield assumption. He also increases the stock's valuation multiple to 26X Ebitda from 24X Ebitda to reflect peers. Hannan says REA has one of the best risk/reward profiles in GS's Australian media coverage, noting its pricing power and market leadership. GS lifts its target price 11% to A$245.00 and keeps a buy rating on the stock, which is down 0.15% at A$226.85. REA is controlled by News Corp., which owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. ([email protected])

(END) Dow Jones Newswires