0353 GMT - Australia-listed drug and device makers may have to consider moving production due to potential tariffs by the incoming Trump administration, UBS analysts write in a note. They say that the likes of vaccine giant CSL, hearing-implant maker Cochlear, breath-tech provider ResMed and radiopharmaceutical developer Telix may have to consider the origin of various inputs and the location of production. Tariffs could motivate relocation of facilities to the U.S. but result in lower profitability for companies, they say. Protective-garment maker Ansell could benefit from tariffs on Chinese gloves, they add. ([email protected])

0307 GMT - Suncorp will need to increase gearing through higher debt or reinsurance if it is to meet its return-on-equity target, Morgan Stanley analyst Andrei Stadnik reckons. The Australian insurer has flagged an ambition to lift its return on tangible equity to a level that matches its best-in-class peers, which Stadnik assumes means IAG. He tells clients in a note that Suncorp could return up to A$7 billion of capital to shareholders over the next few years in pursuit of its ambition. Stadnik currently forecasts FY 2026 return on tangible equity of 35% for IAG, and 23% for Suncorp. MS has an overweight recommendation and A$20.50 target price on Suncorp shares, which are up 1.6% at A$18.61. ([email protected])

0239 GMT - Domain's growing share of Australia's property listings market isn't enough to keep its bull at Citi. Analyst Siraj Ahmed lowers his recommendation to hold from buy despite upgrading his volume forecasts for the real-estate classifieds provider. He writes in a note that declining depth over the September quarter points to pressures on property sellers' marketing budgets following strong price increases by News Corp.-controlled rival REA. The stock retains some valuation appeal but the prospect of lower industry listings in the June half and the uncertainty of a new CEO keeps Ahmed cautious. Citi lowers its target price by 12% to A$3.20. Shares are down 2.4% at A$2.80. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. ([email protected])

0029 GMT - Australian real-estate advertiser Domain loses its bull at Bell Potter amid uncertainty over the housing-market impact of next year's federal election. Analyst Michael Ardrey tells clients that the expectation that the Reserve Bank of Australia won't start cutting interests until May creates additional uncertainty for the market. Home-buying activity typically rises as borrowing costs fall. In performance terms, Ardrey says Domain's challenge is to prove that its Audience Boost product increases listings views. This should support listings and yield growth. Bell Potter cuts its target price 8.6% to A$3.20 and lowers its recommendation to hold from buy. Shares are down 3.0% at A$2.785. ([email protected])

2352 GMT - Nine Entertainment's trading update could suggest that some analysts may have set annual expectations too high, E&P analyst Entcho Raykovski warns. He tells clients in a note that current December-quarter weakness in TV revenues appears to be factored into expectations, the soft run-rate means there could be some downside risk to average analyst forecasts. Recent underperformance of the stock suggests that the market is already taking this into account, he adds. E&P has a last-published neutral rating and A$1.50 target price on the stock. Shares are down 1.4% at A$1.08. ([email protected])

2246 GMT - National Australia Bank Chief Executive Andrew Irvine isn't convinced that falling inflation and tax cuts will do much to lift Australia's weak economic growth just yet. Irvine says that households are likely in a better position, with government energy subsidies also assisting some. "But early indications of how this affects consumption and economic growth are mixed, with some of the benefit likely to be saved initially," Irvine tells investors in a discussion of NAB's annual results. ([email protected])

2236 GMT - Jefferies thinks the recent increase in landside charges by Qube Holdings could have positive implications for the regulation of its ports. While the 9.3% rise by Qube's Patrick Ports unit is ahead of inflation, it represents a significant reduction from the three-year average of 17.2%, analyst Anthony Moulder says. "A slowing rate of increase is helpful in reducing the risk of regulation of stevedores, with more discussion of landside logistics expected in the upcoming annual review of stevedoring by the Australian Competition and Consumer Commission," Jefferies says. Aligning all stevedores to an increase on Jan. 1 also makes it easier for customers to compare landed costs, the bank argues. ([email protected]; @dwinningWSJ)

2233 GMT - Corporate Travel Management's warning of reduced spending on travel by the U.K. government, its largest customer in Europe, doesn't unsettle Jefferies much. The bank cuts forecasts for Europe Ebitda by 5% over FY 2025-2027. That drives 2% cuts to Corporate Travel Management's EPS over the same period. "As the exclusive service provider to the UK government, Corporate Travel Management are now more positively leveraged to any return in volumes if they are softer in FY 2025," analyst John Campbell says. "We also take greater comfort that Rest of the World is on track (79% of FY 2025 Ebitda)." Jefferies retains a buy call on Corporate Travel Management's stock. ([email protected]; @dwinningWSJ)

2223 GMT - Imdex's worse-than-expected 1Q update prompts Jefferies to pare back expectations for FY 2025 revenue growth and earnings. But it remains confident the company's prospects will soon brighten. Analyst John Campbell cuts FY 2025 revenue forecasts by 2%, and earnings for the year by 6%. "Nonetheless, we've left FY 2026 largely unchanged and upgrade FY 2027 driven by recent supportive junior raisings to October 2024, which improved our confidence that exploration activity should start to turn up mid-2025," Jefferies says. It retains a hold call on Imdex. ([email protected]; @dwinningWSJ)

0502 GMT - Mining stocks are the weak spot in Australia's share market as investors position for a potential Trump win in the U.S. election. Datt Capital's Emanuel Datt reckons an 0.5% drop in Australia's metals and mining index by late afternoon in Sydney reflects investors shifting from commodities to higher-risk tech and financial services stocks. Australia's benchmark index is 0.9% higher, while volatility indexes are significantly lower. That suggests markets are confident in a clear outcome, Datt says. Trump won North Carolina, the AP projects, but several other battleground states are too close to call. ([email protected]; @RhiannonHoyle)

(END) Dow Jones Newswires