0305 GMT - Southern Cross Media's surging digital-audio revenue catches the eye of its bulls at Canaccord Genuity. Canaccord's analysts think that Southern Cross's 48% on year growth in its September-quarter digital-audio revenue has probably helped the Australian media group increase its share of audio revenue to 11% from 8%. Continued growth in digital could deliver a meaningful increase to overall group revenue, they tell clients in a note. Canaccord Genuity keeps a buy rating and A$0.96 target price on the stock, which is up 1.0% at A$0.52. ([email protected])

0119 GMT - The key concern for Mineral Resources investors over the medium term is who will succeed founder Chris Ellison as managing director, says RBC Capital Markets analyst Kaan Peker. "Despite the recent governance issues, Chris Ellison still appears well regarded by the market, as the founder-led company is entrepreneurial, has lower bureaucracy, and clarity of vision," Peker says. Mineral Resources has strong senior management, notably finance chief Mark Wilson and mining services head Mike Grey. Keeping Ellison on as managing director for the next 12-18 months will allow time for a smooth transition during a critical period, as the company ramps up the Onslow project and seeks to reduce indebtedness, Peker adds. The stock is down 8.8% at A$37.03. ([email protected]; @RhiannonHoyle)

0105 GMT - Mineral Resources might find it easier to make an external appointment for managing director when current chief Chris Ellison steps down over the next year or so, reckons Macquarie. MinRes today said Ellison would incur multimillion-dollar financial penalties amid a company probe into a private tax settlement and conduct concerns. "The search for a new CEO within MinRes's ranks will be difficult, given the pervasive nature of the governance issues," says Macquarie. "Fresh blood and untainted perspectives may be required to re-establish and fully leverage MinRes's competitive advantages." It has a neutral call on MinRes's stock. ([email protected]; @dwinningWSJ)

0025 GMT - Dexus's days in the ASX-50 index could be numbered, reckons Morgan Stanley. The office landlord may be replaced by CAR Group. MS retains an underperform call on Dexus, citing the outlook for its cash earnings over the next 2-3 years as its key concern. "Despite Dexus's efforts in evolving its business to be more of a fund manager, circa 60% of income still comes from Office rent, and the leasing outlook is not great," analyst Simon Chan says. MS says incentives are expected to remain elevated in the medium term. Also, Dexus's hedged interest rate, which covers 80% of its borrowings in FY 2026, is expected to rise by some 80 basis points. That will lead to more headwinds to funds from operations, MS says. ([email protected]; @dwinningWSJ)

2312 GMT - Citi analysts wonder how much of Westpac's improved momentum will be absorbed by higher costs in fiscal 2025. They tell clients in a note that the bank's revenue growth should be stronger than in the last fiscal year. They point out that management looks keen to emphasize improving momentum across mortgages, business and institutional, and deposit gathering. The lack of detail on costs in the bank's outlook reflects CEO Peter King upcoming handover to his successor, they add. Citi has a sell rating and A$24.75 target price on Westpac shares, which are up 0.2% at A$32.17. ([email protected])

2243 GMT - The structure of SiteMinder CEO Sankar Narayan's long-term incentives indicates the accommodation-tech provider is confident of accelerating revenue growth, Wilsons analysts reckon. They point to the fact that Narayan's long-term incentives cover fiscal 2025 through fiscal 2027 as a sign that SiteMinder sees its medium-term transformation bearing fruit. The analysts tell clients in a note that SiteMinder's ramp-up of its new Dynamic Revenue Plus and Channels Plus products can power annual revenue growth of 30%. Wilsons lifts its target price 8.6% to A$7.60 and keeps an overweight rating on the stock. Shares are at A$6.57 ahead of the open. ([email protected])

2229 GMT - Catapult's contract with England's national and top-tier rugby teams shows the Australia-listed sport-tech provider delivering on its cross-sell strategy, Jefferies says in a note. Analysts point out the deal represents the first major publicized contract for both Catapult's wearable and video products. They also see Catapult's unseating of a long-term incumbent as a positive. Catapult is scheduled to report its 1H result next week. Jefferies anticipates an 18% rise in revenue, a 19% rise in gross profit and free cashflow of US$4.8 million. Jefferies has a last-published buy rating and A$2.40 target price on the stock, which is at A$2.73 ahead of the open. ([email protected])

2207 GMT - Amcor's gearing rose beyond its target band in 1Q, which Macquarie thinks minimizes the chances of the packaging company pursuing a big deal any time soon. Amcor reported net debt-to-Ebitda of 3.5x in the three months through September. Still, the company expects it to reach or fall below 3.0x at the end of June, 2025. "Higher gearing suggests material M&A unlikely in the short term," says Macquarie, which retains a neutral call on Amcor's stock. Last week, Amcor said it would sell its 50% stake in Bericap North America, which manufactures cartons for beverage, food and industrial end markets, for $122 million. Proceeds from that sale would be used to repay some debt. ([email protected]; @dwinningWSJ)

2154 GMT - Rising house prices in Australia are creating an unusual situation for Helia, which provides lenders with insurance products for riskier loans. Helia's claims have been negative since FY 2021 and Jefferies thinks they will be again in FY 2024. As a result, analyst Simon Fitzgerald lifts forecasts for Helia's earnings. Jefferies now expects negative claims costs in FY 2024 of A$28 million, compared to a prior forecast of A$11 million. Jefferies also now expects a lower level of net claims than before. As a result, Jefferies's EPS forecasts increase by 23% in FY 2024 and by 7% in FY 2025. The bank retains a hold call on Helia's stock. ([email protected]; @dwinningWSJ)

2147 GMT - Jefferies had expected a more significant improvement in Amcor's volumes in 1Q, given weakness a year ago. Amcor said 1Q volumes within in Flexibles business rose by 3% on year, in line with the growth rate of the previous three months. In its Rigids division, volumes fell 4%. Customers in healthcare chose to use up existing stocks, weighing on demand for Amcor's products. "Although this is expected, it puts more pressure on the 2H turnaround story in this segment," analyst Henry Copley says. "We also think it is a bit too early to get positive on North America beverage volumes." Jefferies retains a hold call on Amcor. ([email protected]; @dwinningWSJ)

2144 GMT - Appen's lack of protection against customers lowering work volumes stops Jefferies analysts from becoming more positive on the stock. They tell clients in a note that the AI-training provider's lowered cost base positions it for earnings growth from new revenues, but say they remain concerned about its contract structures. Appen's revenues are project-based and the company therefore has no downside protection to customers lowering their initial volume commitments, the analysts add. Jefferies raises its target price by 67% to A$2.00 but keeps a hold rating on the stock. Shares are at A$1.92 ahead of the open. ([email protected])

(END) Dow Jones Newswires