0147 GMT - Appen's improved revenue trajectory prompts Canaccord Genuity analysts to raise forecasts for the AI-training provider's next three annual results. The analysts raise revenue projections for 2024, 2025 and 2026 by 0.8%, 0.8% and 0.9%, respectively, with more significant gains at the Ebitda level. Appen's balance sheet also looks healthier due to improved revenues, cost cuts and a recent underwritten equity raise, they add in a note. CG raises its target price on the stock by 96% to A$2.35, largely on a change in valuation methodology. It maintains a speculative buy rating. Shares are up 0.5% at A$2.005. ([email protected])

0122 GMT - Ansell gets a new bull at RBC, where analyst Craig Wong-Pan sees the protective-garment manufacturer building a strong position from which to make acquisitions or return capital to shareholders. Wong-Pan initiates coverage of the Australia-listed company with an outperform rating, pointing to its strong cashflow conversion and its low capital-expenditure requirements. He thinks that the company's debt-to-earnings ratio will drop in fiscal 2026, leaving Ansell in a strong capital position. The customer destocking that has hit margins over recent years appears to be over, he says. RBC puts a A$38.00 target price on the stock, which is up 1.8% at A$30.91. ([email protected])

0110 GMT - Australian installment-payment provider Zip looks well set to continue its strong U.S. growth, Citi analyst Siraj Ahmed reckons. He points to the continued expansion of Zip's merchant base and the resumption of growth in new customers as key drivers, although the business is already performing well. He tells clients in a note that growth in 1Q U.S. total transaction value accelerated from three months earlier due to existing customers. Ahmed thinks this is due to increased credit limits for repeat users with good repayment records, increased card usage, and merchant acquisition. Citi raises its target price 8.6% to A$3.15 and keeps a neutral rating on the stock, which is up 2.5% at A$3.095. ([email protected])

0052 GMT - Premier Investments loses its bull at Citi despite the potential for shares to re-rate on successful overseas expansion. Analyst James Wang cuts his recommendation to neutral from buy on the lack of short-term catalysts and chances of some investors selling the stock as Premier distributes the proceeds of its apparel brands divestment. Yet Wang tells clients in a note that there may be plenty of interesting medium-term developments. These include synergies from Premier's agreement with department-store operator Myer, and the rollout of its Peter Alexander and Smiggle brands into new markets. Citi has a A$36.00 target price on the stock, which is up 2.8% at A$34.21. ([email protected])

0042 GMT - Corporate Travel Management's warning of lower U.K. government spending points to a potential downgrade of the Australian company's annual revenue and earnings guidance, RBC Capital Markets analysts say. They acknowledge that Corporate Travel can't yet quantify the impact of the spending cuts, but lay out a potential scenario in a note. The analysts tell clients that a 25%-30% reduction in Europe revenues would represent a 2%-3% downgrade to annual revenue guidance at a group level, and a 3%-5% downgrade to Ebitda guidance. Corporate Travel currently forecasts an 18% fall in Europe revenue, they add. RBC has a sector-perform rating and A$13.50 target price on the stock, which is up 10% at A$13.06. ([email protected])

0028 GMT - JB Hi-Fi's bull at Citi is waiting on the crucial December-quarter period before drawing conclusions about the Australian entertainment and appliance retailer's sales performance. Analyst Adrian Lemme tells clients in a note that September-quarter sales at all three of JB Hi-Fi's units are tracking ahead of average analyst forecasts. He says the retailer is showing good momentum but makes no changes to his forecasts ahead of the Black Friday and Christmas trading period. Lemme expects JB Hi-Fi to report 1H Australia sales growth of 6.5%, compared with 5% in its fiscal 1Q. Citi has a buy rating and A$85.00 target price on the stock, which is up 5.4% at A$82.12. ([email protected])

0017 GMT - Gold Road Resources looks too cheap to Euroz Hartleys. Gold Road has an enterprise value of A$1.36 billion, but that's below competitors like Ora Banda Mining, Emerald Resources and Spartan Resources. This puzzles analyst Michael Scantlebury given Gold Road is headed toward annual production of 170,000 oz of the precious metal. "The current discount to its peers is just too high, and we believe it will close as Gold Road's production and cashflow improves in the December quarter and into 2025 or Gold Road will be taken over," Euroz Hartleys says. ([email protected]; @dwinningWSJ)

0010 GMT - Mineral Resources' natural-gas assets fetched a higher price than Jefferies was expecting. Hancock Prospecting will pay A$804 million upfront to Mineral Resources for its exploration permits. It will pay another A$327 million if certain resource thresholds are cleared. "Gearing could reduce from 5.0x net debt/Ebitda to 4.2x as a result of the transaction," analyst Mitch Ryan says. Still, Mineral Resources' balance sheet continues to face headwinds from the elevated cost of servicing debt, falling iron ore prices and soft lithium markets, Jefferies says. ([email protected]; @dwinningWSJ)

2357 GMT - Capricorn Metals' decision to raise a chunky A$200 million of equity could see it buy back some or all of its hedge book, Macquarie says. Capricorn has hedged 55,000 oz of gold at A$2,327/oz. One tranche of those transactions is due in December 2025, and another 12 months later. Currently, Capricorn expects to use the funds to expand its Karlawinda Mill and develop its Mount Gibson gold project. "While Capricorn's capital raise to fund the growth outlook was a surprise (we assumed debt funding) the bolstered balance is now de-risked," says Macquarie. It retains an outperform call on Capricorn. ([email protected]; @dwinningWSJ)

2357 GMT - Lithium producer Liontown Resources is facing increasing pressure on its cash reserves, according to Macquarie. Liontown had A$263.1 million in cash at the end of 1Q. Macquarie said capex in the period was higher than expected. Liontown also signaled its reserves would run down by another A$65 million in 2Q. "Based on our current forecasts, cash levels could fall to A$130 million at the end of 2024 depending on sales volumes and realized prices," Macquarie says. It has an underperform call on Liontown's stock. ([email protected]; @dwinningWSJ)

2324 GMT - Jefferies analysts Michael Simotas and Naveed Fazal Bawa tell clients that Australian grocer Coles was more upbeat at its fiscal first quarter trading update than chief rival Woolworths. They say Coles didn't mention margin pressure, unlike Woolworths, and that Coles's commentary around the second quarter suggests Coles may be "modestly out-trading" Woolworths. On the downside, sales at Coles were still slightly weaker than expected. And the Jefferies analysts want to hear more from management around whether margins can be maintained, given that consumers are seeking bargains amid cost of living pressures. The Jefferies analysts have a "hold" rating on Coles shares. ([email protected]; @Mike_Cherney)

0518 GMT - Zip's flat 1Q operating expenses is seen by its bull at Jefferies as a sign that the Australian installment-payment provider should have control of its costs through the medium- and long-term. Analyst Roger Samuel says it's positive that Zip lifted total transaction value by 23% on a year earlier, while holding operating expenses at a similar level to those seen in the prior two quarters. Zip's U.S. growth is very strong and the company should get a further boost from its partnership with Stripe, he adds. Jefferies lifts its target price 52% to A$3.80 and keeps a buy rating on the stock, which closed 3.2% lower at A$3.02. ([email protected])

(END) Dow Jones Newswires