0454 GMT - Seek's trading update suggests that the Australian job advertiser could beat consensus expectations for its full-year profit, UBS analysts say. Seek expects fiscal 2025 adjusted net profit to land in the top half of its previously announced guidance range. The UBS analysts write in a note to clients that the midpoint of the top half of the range is A$153.75 million, which they say is about 2% above the average analyst forecast. It's also in-line with UBS's A$154 million forecast. They add that interest-rate cuts are improving Seek's operating outlook, while product releases and accelerating AI use are improving yield. UBS has a buy rating and A$30.10 target price on the stock, which is down 0.2% at A$23.64. ([email protected])

0449 GMT - OFX loses its bull at Canaccord Genuity amid an uncertain outlook for the Australian foreign-exchange provider. Analyst Owen Humphries cuts his recommendation on the stock to hold from buy, pointing to the absence of any fiscal 2026 guidance due to broader macroeconomic uncertainty. He tells clients in a note that OFX's plans to accelerate the rollout of its new corporate platform suggests that it has walked away from any operating-leverage targets for fiscal 2026 and fiscal 2027. More positively, he points out that operating costs are being well controlled and that cash conversion is strong. Canaccord Genuity cuts its target price by 50% to A$1.00. Shares are flat at A$0.75. ([email protected])

0443 GMT - Myer's brand strategies and capital-management plans are more important to its bull at Canaccord Genuity than challenging short-term trading conditions. Analyst Allan Franklin reminds clients in a note that the Australian department-store operator is in the midst of a reset that management hopes will position it for sustainable earnings growth. He expects this framing will dominate next week's strategy day. Franklin also sees sales growth levers as important, and hopes to see more analysis of Myer's loyalty programs. Canaccord Genuity cuts its target price by 4.3% to A$1.10 and keeps a buy rating on the stock. Shares are down 3.3% at A$0.73. ([email protected])

0435 GMT - Catapult Group International's bulls at Jefferies see its full-year results as evidence that the sports-technology provider is on track with its strategy. The investment bank's analysts point to an 87% rise in free cash-flow as the highlight of Catapult's result, and like the margin strength that kept management Ebitda in-line with forecasts. They point out that the Australia-listed company has yet to pull the lever on pricing, which they tell clients in a note that it provides strong upside risk to annualized contract value forecasts over the medium and long term. Jefferies raises its target price by 22% to A$5.60 and keeps a buy rating on the stock. Shares are up 7.4% at A$5.25. ([email protected])

0402 GMT - Catapult Group International's slight miss on annualized contract value isn't large enough to upset Bell Potter analyst Chris Savage. The sports-technology provider's full-year ACV--a leading indicator of revenue--fell almost 2% short of Savage's forecast, but this was partly due to currency moves, he says. Catapult's full-year result beat Savage's other forecasts, with statutory Ebitda coming in 8% stronger than he had anticipated. Savage raises his Ebitda forecasts on improved margin expectations, and increases his target price on the stock by 14% to A$5.00. Bell Potter maintains a hold rating. Shares are up 7.4% at A$5.25. ([email protected])

0338 GMT - Bell Potter analyst Chami Ratnapala's optimistic view of the Australian consumer landscape doesn't mean she is overly positive on Kogan.com's near-term prospects. Ratnapala is conservative on the online retailer's likely performance in the upcoming mid-year sales period, stressing the impact of fierce competition. She tells clients in a note that Kogan.com's adjusted earnings for the four months through April fell short of her expectations due to marketing costs and technology issues. Bell Potter cuts its target price 10% to A$4.50 and keeps a hold rating on the stock. Shares are down 1.7% at A$3.95. ([email protected])

0137 GMT - Serko keeps its bull at Citi despite the expense-management software provider's softer-than-expected guidance. Analyst Siraj Ahmed lowers his forecasts but tells clients in a note that Serko is maintaining growth momentum in its Booking.com for Business venture, with 35,000 net customer additions in its fiscal 2H. Ahmed acknowledges that soft macro conditions present some risk, but sees material upside to his forecasts if Serko gets close to its aspiration of generating A$250 million in revenue by fiscal 2030. Citi cuts its target price by 19% to A$3.45 and keeps a buy rating on Serko's Australia-listed stock. Shares are up 5.8% at A$2.92. ([email protected])

0107 GMT - Nufarm's bear at Citi warns that any light at the end of the tunnel remains dim. Analyst William Park acknowledges that pressure on the agriculture-technology provider comes from factors outside its control, with fish-oil prices subdued and the prospect of planted canola seed having to be sold at a loss. Nufarm is reviewing its seed-technology business but an attempt to find buyers at book value could face push-back, Park writes in a note. Citi cuts its target price by 31% and keeps a sell rating on the stock, which is down 6.05% at A$2.64. ([email protected])

0049 GMT - NextDC's bulls at UBS downplay investors' concerns about the data-center operator's elevated valuation multiple. They point out that once adjustments are made for landbank holding costs, NextDC's enterprise value sits at about 28.7 times Ebitda, compared with a headline multiple of 42.5 times Ebitda. They remind clients in a note that the Australia-listed company has spent heavily on future sites and built or fitted-out capacity, estimating a A$2.6 billion deployment by the end of fiscal 2025. UBS keeps a buy rating and A$19.80 target price on the stock, which is down 1.65% at A$13.08. ([email protected])

0022 GMT - Catapult Group International's bulls at UBS see continuing valuation upside if the sports-tech provider can hit their growth forecasts. In a note to clients, UBS analysts point to incremental margins as the most impressive aspect of Catapult's annual result. They point out that incremental management Ebitda margin of 56% was key to the Australia-listed company beating the consensus earnings forecast by 13%. Momentum looks good and they think that Catapult can lift cash earnings to US$39 million by fiscal 2028. UBS lifts its target price 14% to A$5.70 and keeps a buy rating on the stock, which is up 7.6% at A$5.26. ([email protected])

2329 GMT -- James Hardie Industries's soft 4Q update adds to questions ahead of a vote by AZEK shareholders on the ASX-listed building materials company's cash-and-stock takeover offer, Citi says. Analyst Samuel Seow says AZEK shareholders must now weigh an implied bid price that's some 11% lower than James Hardie's initial offer. To vote in favor of the deal they would also be accepting a more downbeat view of market share and a balance sheet that is looking increasingly stretched in an uncertain environment, Citi says. AZEK shareholders are likely to vote on the transaction in July or August. Citi retains a neutral call on James Hardie. ([email protected])

2325 GMT - The devil is in the detail of Mineral Resources' latest resource assessment for its Onslow Iron Project, says Barrenjoey. MinRes yesterday lifted Onslow's ore reserves by 73% and its resource by 89%. Analyst Glyn Lawcock says the bulk of the uplift was due to two new deposits. Also, a wet processing plant from FY 2029 in now assumed in the life-of-mine plan, while 39% of updated reserves are subject to permitting risks. Meanwhile, the long-run iron ore price assumption has increased. "While restated reserves imply a mine life of 10 years, only 70% of Measured/Indicated resources have been converted and there are multiple deposits within the mining lease that are yet to be classified," Barrenjoey says. "So we remain comfortable with our assumed 20-year mine life for Onslow." ([email protected]; @dwinningWSJ)

2309 GMT - Nufarm's decision to review its Seed Technologies business isn't likely to deliver a good result for shareholders, reckons Jefferies. Nufarm says all options are on the table for Seed Technologies in the UBS-led review. Nufarm has grappled with low fish-oil pricing in recent months, which led it to tell investors that it won't achieve a target of A$100 million of omega-3 revenue in FY 2025. Analyst Ramoun Lazar says the review "is likely to result in subscale outcomes for shareholders, given constrained near-term AquaTerra economics due to poor pricing and suboptimal production cost profile." Jefferies downgrades Nufarm to "underperform," from "hold," and cuts its price target by 55%, to A$1.96/share. Nufarm ended Wednesday at A$2.81. ([email protected]; @dwinningWSJ)

2259 GMT - Webjet likely will stay in M&A crosshairs, despite a weak start to FY 2026, says Jefferies. Webjet has already rebuffed an effort by private-equity firm BGH to acquire a controlling interest in the company. Analyst John Campbell says trade buyers will no doubt have some interest in acquiring Webjet as well. "Much of what is happening now in terms of revitalizing the brand and the business should have been underway years ago," says Jefferies. "But the task of winning share (which their total transaction value targets require) from the global online travel agencies and the hotel/airline suppliers themselves is Herculean." Jefferies downgrades Webjet to "hold," from "buy." ([email protected]; @dwinningWSJ)

245 GMT -- Given headwinds in both China and the U.S., Barrenjoey research analysts are unconvinced that Aussie-based vintner Treasury Wine can hit its earnings guidance after the departure of its CEO last week. A weak economic situation in China, combined with U.S. tariffs and austerity measures, likely means that growth in Treasury's key high-end wine brand Penfolds will slow in FY 2026. They also say the company's Americas business continues to underperform in a weak wine market. They downgrade to neutral from overweight and cut their target share price to A$9.50 from A$12.00. "Put simply we think the existing earnings guidance is unrealistic given the considerable external pressures on the business," the Barrenjoey analysts tell clients in a note. ([email protected])

2247 GMT - Monash IVF's share-price fall following this week's profit warning leaves the company more vulnerable to a bid. Jefferies says reasons for Monash IVF lowering FY 2025 profit guidance to some A$27.5 million likely include the discretionary nature of IVF treatment as well as Monash IVF's exposure to Victoria, a state that is facing economic challenges. "We do not expect a sudden turnaround in IVF volumes but highlight there may be corporate interest in IVF if an acquirer is willing to take a longer-term view given favorable industry dynamics," analyst David Stanton says. Monash IVF's shares are down around 47% over the past 12 months. ([email protected]; @dwinningWSJ)

0458 GMT - Technology One's elevated multiple leaves the enterprise software provider with little margin for error, Macquarie analysts warn clients. They like the Australian company's pipeline strength across multiple verticals as well as its geographic spread, but they write in a note that the stock is trading at 78 times earnings on a next 12-month basis. Without a negative catalyst, they think the stock could continue to run but warn that the upside to the current pipeline looks to be priced in. Macquarie raises its target price by 11% to A$34.40 and stays neutral on the stock, which is up 5.1% at A$38.62. ([email protected])

(END) Dow Jones Newswires