0500 GMT - Judo Capital's investor day is likely to focus on the Australian business lender's strategy rather than its near-term earnings outlook, Morgan Stanley analysts say. They don't expect any elaboration on Judo's existing outlook for 50% pre-tax profit growth in fiscal 2026, but would like to ask how competitive dynamics are affecting its ability to attract and retain bankers. The MS analysts write in a note that they expect commentary on competition, technology and scale, risk appetite, and capital. MS has an overweight rating and A$2.10 target price on the stock, which is down 2.3% at A$1.3925. ([email protected])

0209 GMT - BlueScope Steel shares rise 7% to A$24.33, extending a year-to-date rally fueled by bets that it will benefit from U.S. tariffs on steel imports. The Australian steelmaker runs the North Star mini-mill in Ohio and the U.S. is its top region for growth. BlueScope is working to boost volumes at North Star by another 10% following the completion of an expansion that increased output by nearly 50%. Trump on Friday threatened to double tariffs on imports of steel and aluminum, stoking renewed interest among buyers of BlueScope's stock. Trump said tariffs on the two metals would increase to 50% from the current 25%, effective June 4. ([email protected]; @dwinningWSJ)

0104 GMT - There are plenty of reasons to be bullish about QBE Insurance, signals Morgans. QBE has executed well in recent periods, as highlighted by its FY 2024 result delivering 31% EPS growth and an 18% return on equity, says analyst Richard Coles. "With a strong balance sheet, and further upside to come from improvements in its North America business, we continue to see QBE as too cheap trading on 11X FY 2026 forecast earnings," Morgans says. It retains an add call on QBE while raising its price target by 11% to A$26.76/share. QBE is up 1.7% to A$23.55. ([email protected]; @dwinningWSJ)

0100 GMT - There's a trading opportunity for investors as Australian real-estate investment trusts prepare to pay out distributions, says Macquarie. It finds that Reits have historically outperformed the market by 2.6% in the five weeks before they trade ex-dividend. They then underperform the market by 0.6% in the following 25 days, Macquarie says. "There is an opportunity for investors to capture outperformance from distribution-payers that typically occurs at this time of year," says Macquarie. "Most Reits also trade ex-distribution on the same day, meaning investors can implement basket strategies around these events." It has outperform calls on stocks including Dexus, Goodman, GPT and Mirvac. ([email protected]; @dwinningWSJ)

0042 GMT - It's been a bruising run for Australian lithium stocks but Morgan Stanley analyst Rahul Anandfinds reasons to be positive. MS has overweight calls on Mineral Resources and Pilbara Minerals. The bank's bullishness reflects strong momentum in electric-vehicle sales in China, up some 51% on year between January and April. "Lithium's woes have come from too much supply rather than a shortage of demand," says MS of prices of the commodity. "Excess supply is driving the weakness, meaning cuts are needed to drive a rebound." ([email protected]; @dwinningWSJ)

0037 GMT - Charter Hall could grow its property assets under management to some A$89 billion by FY 2027, from A$66.4 billion now, reckons Morgan Stanley. That would result in performance and transaction fees of around A$115 million in FY 2027, estimates analyst Simon Chan. This outlook is predicated on a recovery in cap rates and capital flows. MS raises its price target by 13% to A$22.60/share, although it assumes Charter Hall achieves that level of property AUM by FY 2028. This time difference allows for any potential lag in fundraising, deployment, or deal settlement, the bank says. Charter Hall is up 1.6% at A$18.46. ([email protected]; @dwinningWSJ)

2339 GMT - Coles' bull Citi remains optimistic on the Aussie supermarket operator, though analyst Adrian Lemme tells clients in a note that it is tempting to switch to chief rival Woolworths on a mean reversion argument. Lemme writes that Coles should continue to outperform Woolworths in same-store sales for at least the next few quarters, and that there is a good case for Coles to pursue up to A$1.6 billion in capital management in FY 2026. Woolworths will eventually turn things around, but it's going to take time, Lemme writes, noting that Woolworths' recent price cut announcement is unlikely to materially move the needle. ([email protected]; @Mike_Cherney)

(END) Dow Jones Newswires