0259 GMT - Lottery Corp.'s 1H lottery revenue is on track to come in below expectations for its bull at Citi. The 3% on-year rise in the period so far is in line with the average analyst forecast, Adrian Lemme tells clients in a note, adding that it lags the 9% he had anticipated. He will be closely monitoring how things develop in December before making any changes to his forecasts, he notes. There are signs of either consumer fatigue or cost-of-living pressures, he adds, and wonders if higher jackpots are needed to keep punters interested. More positively, he points out that last week's A$100 million jackpot has lifted some risks for the remainder of the half. Citi maintains a buy rating and a target price of A$5.60 for the stock, which is down 0.8% at A$5.16. ([email protected])

0258 GMT - ASX's better-than-expected volumes may not be enough to break a run of share-price underperformance stretching three years, Citi analyst Nigel Pittaway warns. He tells clients that the demands of the long-running tech overhaul at the Australian market operator means that shareholders remain some way down the list of the company's priorities. The stock hasn't outperformed the broader market since 2021 and the outlook for IPOs remains debatable even with tentative signs of recovery, he writes in a note. He raises his EPS forecasts but doesn't sound any more positive on the stock. Target price rises 7.1% to A$66.70 and Citi stays neutral on the stock. Shares are up 0.1% at A$68.52. ([email protected])

0032 GMT - Any earnings risk to one of APA's largest pipelines and profit drivers has been removed, RBC analyst Gordon Ramsay says. He tells clients in a note that the Australian Energy Regulator's confirmation that the South West Queensland Pipeline will not be subject to full price regulation is positive for project profitability, as well as for further opportunities. He looks forward to APA confirming its expansion plans for Australia's East Coast Gas Grid in coming months. RBC has a sector-perform rating and A$8.00 target price on the stock, which is up 1.4% at A$7.27. ([email protected])

0022 GMT - Service Stream's contract extensions with Australia's national broadband network have de-risked the company's near-term earnings outlook, Ord Minnett analyst Ian Munro says. Munro moderates his bullishness on the infrastructure developer and manager while he waits on its fiscal first-half results, but remains positive. He tells clients in a note that tender activity among peers suggests that there could be more broadband contracts in 2025. Ord Minnett raises its target price 1.8% to A$1.70 but lowers its recommendation to accumulate from buy. Shares are down 0.9% at A$1.605. ([email protected])

0001 GMT - Downward pressure on franchisee profitability and the pace of new store openings turn Macquarie analysts bearish on Australia's Domino's Pizza Enterprises. They expect the pace of store rollouts to remain subdued over the medium term as lower profitability dissuades franchisees from further expansion. The analysts tell clients in a note that a weaker top line is to blame for the gloomy picture, pointing out that the average cost per store is broadly unchanged since before the Covid-19 pandemic. With a more modest outlook on network expansion than many other analysts, they lower their target price by 9.2% to A$29.50 and cut their recommendation to underperform from neutral. Shares are down 3.0% at A$32.24. ([email protected])

2351 GMT - Ventia Services' strong balance sheet and low gearing suggests that the Australian infrastructure-services provider could return additional cash to shareholders, according to its bulls at Macquarie. The investment bank's analysts write in a note that they expect the double-digit revenue and Ebitda growth seen in the fiscal first half to continue through the remainder of the current year, supported by telecommunications, defense and social infrastructure. They see upcoming defense contract renewals asa potential opportunity, estimating that every A$100 million in annual defense revenue adds 2% to Ventia's EPS. Macquarie raises its target price 2.9% to A$4.66 and keeps an outperform rating on the stock. Shares are down 2.5% at A$4.26. ([email protected])

2316 GMT - Housing affordability rather than a shortage of credit is the key problem facing Australia's residential real-estate market, Macquarie analysts say. They point to Commonwealth Bank data showing that 38% of new owner-occupier mortgages are going to households with income in excess of A$200,000. The analysts tell clients in a note that suggestions by some lawmakers that banks could ease lending standards for first-time buyers are misguided. Such a move would further push up home prices already elevated by a shortage of supply, they reckon. All this does is leave these buyers with more debt to service. ([email protected])

2115 GMT - Perpetual's bull at Bell Potter reiterates their buy call on the Australian wealth manager despite some uncertainty over the demerger of its wealth management and corporate trust businesses. Analyst Marcus Barnard thinks that a tax ruling on the demerger is likely to be positive for shareholders. He tells clients in a note that planned reductions in the company's cost base should also lead to improved forecasts, and reckons that recent share-price moves have shown the stock is receptive to even small positive changes in sentiment. Bell Potter keeps a A$24.76 target price on the stock, which is at A$21.82 ahead of the open. ([email protected])

0801 GMT - Singapore Post's sale of its Australia business introduces uncertainty and clouds its future strategy, unwinding management's efforts over the past few years to diversify the business and establish a second home base, S&P Global Ratings says. This reversal "calls into question the consistency and execution of the company's stated strategy," S&P adds. After the disposal, SingPost's remaining operations are likely to become narrower, with reduced scale and diversity, the ratings agency notes. S&P adds it may lower its credit ratings on SingPost following the postal company's planned strategy reset and the sale of its Australia business. ([email protected])

0426 GMT - Tokyo Gas Natural Resources looks like a strong contender to purchase equity in Woodside Energy's new U.S. liquefied natural-gas export project, RBC Capital Markets analyst Gordon Ramsay says. He tells clients in a note that the Louisiana LNG project appears to fit well with Tokyo Gas's strategy of diversifying long-term LNG supplies and securing gas from the U.S. Ramsay points out that Tokyo Gas-controlled TGNR's recent purchase of Rockcliff Energy already makes it one of the largest shale gas producers in the Haynesville region straddling East Texas and Louisiana. Tokyo Gas would likely provide LNG offtake and could supply project feed gas, he adds. ([email protected])

(END) Dow Jones Newswires