0058 GMT - Jefferies adds Barrick Gold to its North American shopping list for copper--an unconventional call, it acknowledges, given Barrick makes most of its money from the gold it mines. Analysts at the bank say they expect Barrick's attributable copper production to double to more than 450,000 metric tons annually and contribute roughly 25% of revenue later this decade. Copper accounts for about 10% of its revenue today. Barrick joins Capstone Copper, Ivanhoe Mines and Hudbay Minerals on Jefferies's list of preferred North American copper miners. ([email protected]; @RhiannonHoyle)

2349 GMT - Rio Tinto has no need to raise equity, say Citi analysts Paul McTaggart and Ephrem Ravi. "So let's move on," they say in a client note. Rio Tinto's recent comments about a potential equity raise caught the market off guard and prompted a debate over whether the miner was seeking to rebalance shares in its dual-listed structure, strengthen its balance sheet, or have greater flexibility, say McTaggart and Ravi. "Even under downside scenarios, we think that Rio's balance sheet can handle commodity price volatility without new equity," they say. And, "if management believes Rio's shares are cheap, why dilute shareholders now?" Citi has a neutral rating at A$130 target on Rio Tinto. The stock is up 0.3% in Sydney at A$115.30. ([email protected]; @RhiannonHoyle)

2328 GMT -- Guzman y Gomez continues to trade on steep multiples, but that doesn't stop Morgans from adding the Mexican food chain to its list of best stock ideas. "With a strong and long dated earnings growth profile we think investors are fairly compensated," Morgans says. Guzman y Gomez's share price has risen some 50% since its June IPO, and was trading even higher on the eve of its 1H result last month. Morgans cites the company's superior product offering relative to domestic peers and operating leverage among reasons why it expects material earnings growth in coming years. ([email protected])

2329 GMT - Coles is making efforts to hold on to some of the customers it gained amid the labor dispute that disrupted operations at rival Australian supermarket giant Woolworths, Jefferies analyst say in a note. Coles's first-half Ebit got a A$20 million tailwind from the strike at Woolworths' distribution centers, they add. The analysts think that the recent strike, which led to empty shelves at some Woolworths stores and at the associated Endeavour drinks business, also improved Coles's standing in the eyes of consumers relative to its larger rival. Traffic to affected Woolworths stores remains below par, the analysts say. ([email protected])

2327 GMT - Corporate Travel Management is one of Morgans's key picks in the travel sector, despite its share price retracing close to levels achieved on the eve of its 1H result. Corporate Travel's stock bounced some 18% in value in the immediate aftermath of that result, which pointed to 35% growth in annual Ebitda. However, it has since fallen back to A$15.35. Morgans expects Corporate Travel to resume reporting strong earnings growth from 2H. "Corporate Travel is targeting a further 22% growth in Ebitda in FY 2026 based on A$1 billion of new client wins in FY 2025, the global rollout of Sleep Space will increase yield and its technology and automation projects are delivering solid margin expansion," Morgans says. ([email protected]; @dwinningWSJ)

2317 GMT - Australia's filling-station operators and supermarkets face earnings headwinds from the availability elsewhere of cheaper illicit tobacco products, according to Jefferies analysts. They write in a note that recent earnings reports from Viva Energy, Ampol, Coles and Woolworths show tobacco sales falling by between 15% and 26%. They point out that, while gross margins on tobacco sales are low, there are little associated costs, so a drop in sales implies material operating deleverage. They think that Viva likely experienced a 12% drag on December-half Ebit from the lower sales. The other three companies have better managed the decline, the analysts add. ([email protected])

2310 GMT - Recent earnings reports from Australia's discretionary retailers shows gross-margin compression across the sector, Jefferies analysts say. They point to increased competition, savvy shoppers spending across promotional periods, and companies' investment in loyalty programs. They think that JB Hi-Fi found the right balance between discounting and gross profit growth. They add in a note to clients that Super Retail Group was guilty of under-promotion, resulting in operating deleverage and a loss of market share. ([email protected])

2157 GMT - West African Resources' share price may have shot up 19% in two days after its annual result beat expectations, but Barrenjoey says the miner remains its top stock pick among West African gold companies. "One year forward earnings multiples are still eye watering," says analyst Richard Knights. The bank assumes West African Resources offers a free cash flow yield of 32% in 2026. "If Kiaka is delivered in the September quarter of 2025 as expected, we don't believe this discount will persist, even considering the market's concerns around sovereign risks in Burkina Faso," Barrenjoey says. Its price target rises 3.9%, to A$2.65/share. West African Resources ended Thursday at A$2.11. ([email protected]; @dwinningWSJ)

2155 GMT - Australia's S&P/ASX 200 is on track to open lower following further falls by U.S. equities, keeping the benchmark index firmly on course for a third consecutive weekly decline. ASX futures are down by almost 1.0% ahead of Friday's session. The ASX 200 has finished in the red for three straight days, slipping 0.95% lower so far this week as traders fret about the global economic effect of President Trump's trade tariffs. In the U.S., the DJIA lost 1.0%, the S&P 500 fell 1.8%, and the Nasdaq Composite entered correction territory with a 2.6% tumble. Ahead of the ASX open, wealth manager Insignia Financial said it will open its books to Bain Capital and a rival suitor after they improved their separate takeover proposals. ([email protected])

0411 GMT - Job advertiser Seek remains Jarden analysts' top pick among Australian classifieds stocks following an earnings season they say was defined by companies "controlling the controllables." Analysts Tom Beadle and Liam Robertson point to solid performance across the sector, with strong yields and tight operating-expense control. In their view, Seek benefits from its exposure to higher-than-expected volumes, which is the key swing factor in their June-half estimates. They tell clients in a note that employment is typically the most volatile classifieds vertical. Every 1% increase in volume raises their EPS forecast by 3%, they say. Jarden has a buy rating and a A$28.00 target price on the stock. Shares are up 1.7% at A$24.55. ([email protected])

(END) Dow Jones Newswires