0123 GMT - WiseTech's size, strength and growth runway should help the logistics-software developer uncover high-quality candidates in its search for a new CEO, RBC Capital Markets analyst Garry Sherriff says. He sees Richard White's departure as CEO and appointment as a long-term consultant as a positive circuit breaker following media allegations against the business's co-founder. Sherriff warns that White's continued involvement could be a complicating factor for his successor, adding that lines between focus and influence need to be clearly delineated by the board. RBC lifts its price target by 8.7% to A$125.00 and raises its recommendation to outperform from sector perform. The stock is up 14% at A$113.50. ([email protected])

0023 GMT - Reece's disappointing trading update is seen as a cleansing event by Macquarie analysts, who raise their recommendation on the stock to neutral from underperform. The analysts tell clients in a note that the near 8% share-price fall that followed the update lowers risk. They believe that investors' focus will likely shift to the timing of a cyclical recovery in housing developments, which should support valuation multiples for the plumbing supplies provider. Macquarie lifts its target price by 5.5% to A$24.10. Shares are down 0.35% at A$24.365. ([email protected])

2355 GMT - Whitehaven's 1Q saleable coal output at 7.1 million metric tons is a 4% miss versus consensus and 10% below Ord Minnett's expectations, the broker's Tim Elder says in a note. Still, improved sales from the miner's Queensland assets--up 13% on-quarter--and a slightly better than anticipated balance sheet are likely to drive outperformance in the stock, Elder says. The potential for a smaller contingent consideration payment in July 2025 to the prior owners of the Queensland operations, BHP and Mitsubishi, than the US$350 million maximum is also a positive, he says. Ord Minnett has a buy rating and A$8.80 target on Whitehaven. The stock is up 5.4% at A$6.765. ([email protected]; @RhiannonHoyle)

2321 GMT -- How Australian consumers are behaving in terms of spending will have a big impact on the timing of interest-rate cuts by the Reserve Bank of Australia. With income tax cuts delivered midyear, there's an expectation that spending has rebounded a bit, giving the economy renewed momentum in the second half of the year. September retail trade data will therefore be on the radar of markets, as will the monthly household spending indicator. These two publications will provide the clearest signal yet on how consumers have reacted to the tax cuts, says Gareth Aird, head of Australian economics at CBA. Aird expects that the consumer response has so far been muted with the upshot being that savings have lifted over the third quarter. Aird is forecasting that the RBA will cut in December. ([email protected])

2304 GMT - Regis Resources is no longer considering a development of its A$1 billion McPhillamys gold project in the near term. So what will it do with its cash? Options include dividends, share buybacks, acquisitions, growing its existing operations, and debt repayments. "Its A$300 million debt facility has service costs of A$20 million per annum and together with organic growth, we believe is the most attractive use of funds," analyst David Coates says. M&A looks challenging, Bell Potter says, with gold prices closing Thursday at their second-highest level ever. "Dividends are possible, but in our view it would be prudent for Regis to take time to assess it position," Bell Potter says. It has a "buy" call on the stock. ([email protected]; @dwinningWSJ)

2251 GMT - Brambles' soft start to its fiscal year increases pressure on the global pallet supplier to lift volumes through the second half, Jefferies analysts say in a note to clients. They think that modest in-year pricing growth means that volume growth needs to accelerate if Brambles is going to hit its annual guidance. The company expects stronger net new wins in its fiscal second half, supported by increases in prices for whitewood pallets, which are seen by customers as an alternative to those leased by Brambles. Jefferies lifts its target price 3.3%, to A$17.02, and keeps a "hold" rating on the stock, which is at A$18.29 ahead of the open. ([email protected])

2243 GMT -- Strike Energy might find it prudent to delay starting up its West Erregulla natural-gas project, suggests Wilsons. Doing so would protect its balance sheet. Analyst James Karakatsanis thinks much hinges on the performance of the Walyering gas field in Western Australia. Wilsons estimates Walyering could generate free cash flow of A$63 million annually for two years. That would bolster Strike's existing liquidity of A$62 million and undrawn debt of A$100 million as it considers developments such as West Erregulla. Still, Wilsons assumes that Walyering produces at materially high rates than it does right now. "We think as a result, we could see West Erregulla first gas be delayed into 2027 as a precaution to better match costs with Walyering free cash flow," Wilsons says. It has an overweight rating on Strike Energy's stock. ([email protected]; @dwinningWSJ)

2239 GMT -- Super Retail's margins have recently been lower than Citi expected, but the bank expects this to change soon. Citi notes that discounting activity increased in Super Retail's Supercheap Auto business. "This category has tended to be very rational so we expect the environment to stabilize," analyst Adrian Lemme says. Sporting goods chain Rebel also stepped up some clearance activity and changed the mix of its footwear range by introducing the Hoka brand to all stores. Meanwhile, Super Retail said loyalty program redemptions had dented its gross margin by 140 basis points. "We expect this impact to be limited to this period because post October it will be cycling the launch of the program," Citi says. ([email protected])

2218 GMT -- WiseTech's separation of governance and strategy helps secure the logistics-software provider a new bull at Citi despite uncertainty over how shares will react to its change of CEO. Analyst Siraj Ahmed concedes that founder Richard White's move to a full-time consultancy role may prompt an initial fall in the stock, but he doesn't foresee any changes to execution and strategy over the next three years. Ahmed tells clients in a note that he had expected White's role to change in this way eventually. Citi cuts its target price 9.8% to A$124.50 and raises its recommendation to buy from neutral. Shares are at A$99.37 ahead of the open. ([email protected])

2216 GMT - Karoon Energy's big fall in 3Q sales isn't likely to be repeated in the current quarter, Wilsons says. Karoon reported sales of $144.9 million in 3Q, down 32% on 2Q. That was well below the $215 million forecast by Wilsons analyst James Karakatsanis. Karoon said the sales drop was driven by the timing of oil shipments from its Bauna project in Brazil. It said a cargo of 500,000 barrels of oil was in transit at the end of 3Q. So, Wilsons is confident that this is just a blip that will "reverse in the December quarter." ([email protected]; @dwinningWSJ)

1759 ET - Australian retailer Adairs' recent improvement in its profit margins heartens Wilsons. Adairs says its gross margin expanded by some 50 basis points in the first 16 weeks of FY 2025. That was achieved despite headwinds from currency swings and freight costs. Analyst Tom Camilleri says the margin gains suggest Adairs' product costs are stable and competition is steady ahead of Black Friday and Christmas. The company also says sales in its Adairs-branded business are up 16.1% in weeks 9-16. If that growth is sustained through the peak trading periods then "it could result in meaningful margin expansion in FY 2025 (with ongoing cost discipline)," Wilsons says. It retains a market weight call on Adairs' stock. ([email protected]; @dwinningWSJ)

0515 GMT - Brambles's bull at RBC Capital Markets can see reasons for optimism despite the global pallet giant's softer-than-expected 1Q sales growth. Analyst Owen Birrell tells clients in a note that the miss was due to factors outside of the company's control. It was instead related to broader market weakness and he thinks the owner of the CHEP pallet brand maintained the anticipated level of control where it could. Birrell can't draw much from the update beyond the company's reiterated guidance, and remains comfortable with its operational performance. RBC has a last-published outperform rating and A$20.75 target price on the stock, which closed 1.5% lower at A$18.29. ([email protected])

0456 GMT - Commonwealth Bank's 1Q update is likely to show the lender's credit quality deteriorating and mortgage lending rising, Morgan Stanley analyst Richard E. Wiles says. Australia's largest bank is scheduled to release its September-quarter update on Nov. 13 and Wiles will be looking to see the extent of the deterioration. He expects the lender to show about A$9.0 billion in troublesome and distressed assets, up from A$8.7 billion at the end of June. He also expects Commonwealth's mortgage volumes to have grown 1.2 times faster than the broader industry over the period. MS has an underweight rating and A$113.50 target price on the stock, which is up 1.1% at A$143.33. ([email protected])

(END) Dow Jones Newswires