0136 GMT - A2 Milk recovers almost all this month's share-price decline following its introduction of a dividend policy and rosier view of annual revenue. A2 Milk says it plans to pay out 60%-80% of net profit as dividends, sending its Australia-listed stock up 18% to A$5.66. Citi analyst Sam Teeger says the commencement of the policy in 1H of FY 2025 is earlier than the market expected. Consensus expectations had been for its implementation in 1H of FY 2026, says Citi, which has a buy call on A2 Milk. "Further, given how weak the stock has been recently the revenue guidance upgrade (regardless of the driver) should be taken positively," Citi says. A2 Milk now expects FY 2025 revenue to rise by mid-to-high single digits percent. That compares to prior guidance for mid-single digit growth. ([email protected]; @dwinningWSJ)

0131 GMT - The size of WiseTech's guidance downgrade surprised its bull at Citi, who hadn't expected the now-delayed product to contribute so much revenue in the current fiscal year. Analyst Siraj Ahmed tells clients in a note that he had expected the Container Transport Optimization product to contribute less revenue over six months than the A$75 million potentially implied by the downgrade. He is interested to hear more about the significant initiatives flagged by the company to help offset the revenue delay, but warns that the downgrade could exacerbate concerns about revenue visibility. Citi has a last-published buy rating and A$124.50 target price on the stock, which is down 9.7% at A$125.50. ([email protected])

2330 GMT - In the wake of a disappointing trading update from Lovisa, Citi questions whether the costume jewelry retailer needs to enter more markets. Lovisa said it's in three new franchise markets: Ivory Coast, Republic of Congo, and Panama. Citi says those moves reflect the global growth potential of the business. Still, analyst Sam Teeger argues that "recent store visits in key offshore markets suggest there may need to be a review of the company's site selection criteria, based on the comparison of new versus old store quality." There is a downside to such a review. Any more signs that Lovisa is slowing its store rollout could deal another blow to its price-to-earnings multiple, Citi says. It has a sell call on Lovisa. ([email protected]; @dwinningWSJ)

2310 GMT - Web Travel's bulls at Goldman Sachs make no changes to their forecasts following the travel-booking provider's restatement of its prior-year earnings. The investment bank's analysts tell clients in a note that the move, driven by a change in how it estimates supplier billing error rates, is not material for Ebitda across last year or the first half of the current fiscal 2025. Goldman analysts would like to better understand the restatement of fiscal 2023 results, but maintain a buy rating and A$6.70 target price on the stock, which is at A$4.31 ahead of the open. ([email protected])

2212 GMT - Accent Group's bull at Citi sees downside risk to their first-half margin forecast, but only due to the strength of the footwear retailer's prior-year performance. Analyst Sam Teeger forecasts margin contraction of 70 basis points for the December half, but warns that margins expanded in November and December 2023. That said, he doesn't anticipate further contraction in the June half and expects flat gross margins over the whole of the fiscal year. Citi trims its target price 3.9% to A$2.47 and keeps a buy rating on the stock, which is at A$2.25 ahead of the open. ([email protected])

2200 GMT - Lovisa's latest snapshot of trading looks negative to RBC Capital Markets. At its annual shareholder meeting, Lovisa provided detail on comparable sales, total sales and net store additions. "All three were below market expectations," analyst Wei-Weng Chen says. Lovisa's sales rose by 1.0% in the first 20 weeks of FY 2025 when measured on a comparable basis. That's below the 2.5% consensus growth forecast for 1H, RBC says. Total sales growth of 10% in FY 2025 so far is short of consensus hopes of 13.2% in 1H. Meanwhile, 27 net new stores are below the 48 additions that the market has been anticipating in 1H. Lovisa ended Thursday at A$26.82. ([email protected]; @dwinningWSJ)

2152 GMT - CSL's share price has fallen around 10% over the past month as investors assess what Donald Trump's presidential win could mean for the Australian company's vaccines business and the pharmaceutical industry more broadly. Vaccines account for 15% of CSL's Ebit. Still, Citi analyst Mathieu Chevrier notes the number of influenza vaccine doses distributed in the U.S. rose to 175 million in 2019, from 155 million in 2017, covering much of Trump's first term. Also, Citi expects CSL to be largely spared from potential legislation on drug pricing because its gross margin is lower than the pharma industry and many of its products have no substitutes or are life-saving. "Whilst residual headline risks remains near-term, we see the pull back as a buying opportunity," Citi says. ([email protected]; @dwinningWSJ)

2147 GMT - The sharp sell-off in Mineral Resources's share price since early October prompts Citi to upgrade the stock to neutral, from sell. Still, analyst Kate McCutcheon thinks there will be limited interest from incremental buyers. That's because Mineral Resources faces several headwinds including ongoing governance concerns. Uncertainty remains around Mineral Resources's senior leadership team, and the company's lithium ventures are either marginally profitable or loss-making, Citi says. Also, the companyfaces internal and external investigations. "For holders looking for the positives, Mineral Resources's assets have not fundamentally changed," Citi says. Mineral Resources is down some 37% from its recent peak on Oct. 7. ([email protected]; @dwinningWSJ)

2144 GMT - Qube Holdings has more debt optionality than before. The Australian logistics group has now been assigned an investment grade credit by both Fitch Ratings and S&P Global Ratings. In a note, Citi analyst Samuel Seow highlights that some A$1.2 billion of Qube's A$1.4 billion debt are bank loans, with an average weighted maturity of only 3.2 years. "As a result, this should provide the company with the ability to further diversify, extend maturities and reduce debt costs," says Citi, which rates Qube a buy. Qube says it plans to hold meetings with debt investors in Australia and Asia. An AUD-denominated benchmark issue comprising a term of 7 years and/or 10 years may follow. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires