0418 GMT - Iress's suitors may have to offer more than A$10.50 a share to get control of the financial-tech provider, Morgans analyst Scott Murdoch says. The Australian company already considered a proposal at that level from Blackstone before the private-equity giant withdrew it. Murdoch thinks that offers above that level would be more appropriate, given that Iress appears to be set up for reasonable growth during an extra investment phase through 2027. He tells clients in a note that he would consider 20 times EBIT a reasonable multiple at which engagement could begin. He reckons that works out at A$11.00. Murdoch cuts his target price by 4.5% to A$9.69 and lowers his recommendation to accumulate from buy. Shares are down 1.15% at A$8.62. ([email protected])

0227 GMT - Concerns over Coronado Global Resources's near-term liquidity rise as the miner signals a bigger-than-expected working capital unwind in 2H, Jefferies analyst Daniel Roden says. "Met coal markets have improved the past week, although not to sufficient levels to offset any delays in Mammoth and Buchanan ramp-up and delivery in 2025 to support near-term liquidity," says Roden. Coronado is exploring options to support its balance sheet, which could include selling minority stakes in some assets. "The outlook will be informed by the form and structure of these liquidity levers, and the impact to existing shareholders," says Roden. Jefferies has a hold rating and A$0.20 target on Coronado's stock, which is down 1.0% at A$0.2525. ([email protected]; @RhiannonHoyle)

0225 GMT - SGH's FY 2026 Ebit growth guide is roughly 5% below consensus, says UBS. "The moderated growth outlook likely reflects a drag from Beach and Coates, offset by MSD [mid-single-digit] Ebit growth at WesTrac and Boral," analysts at UBS say in a note. SGH's FY 2025 Ebit is broadly in line with UBS's and the market's expectations, they say. UBS has a buy rating and a A$60.00 target on the stock. SGH is down 11% at A$46.29. ([email protected]; @RhiannonHoyle)

0117 GMT - The outlook for lithium prices has improved on Chinese supply disruptions, but shares in companies that mine the battery metal appear to be getting ahead of themselves, according to UBS analysts. The bank raises its lithium-price forecasts for the next few years by as much as 27%, and analysts say the worst of the market downturn appears to have passed. Yet equities have run too hard, too fast, they say. "We still have more to learn on the China crackdown on mining licenses" and "the actual supply disruption could be more muted than equities might suggest," say the analysts. Australian lithium stocks are a tad down in Sydney following large gains on Monday. ([email protected]; @RhiannonHoyle)

0103 GMT - Mineral Resources might be making good on its promises, but it looks expensive after jumping by roughly 40% in just one month, UBS analysts say in a note. They downgrade the miner's stock to sell from neutral. Their target on its shares is raised to A$37.40, from A$26.00 before. "MIN is delivering, with Onslow ramping up, cost-out in lithium and mining services strong," the analysts say. The miner is also making "necessary and significant" progress on governance changes and will start reducing its debt load now that the Onslow operation is ramping up, they say. Mineral Resources is up 0.2% at A$38.20. ([email protected]; @RhiannonHoyle)

0054 GMT - Coronado Global Resources' decision not to pay a 1H dividend surprises Ord Minnett. It had expected a payout of 0.5 U.S. cents per share from the coal miner. Consensus forecasts were for a dividend of 0.3 U.S. cents. Analyst Tim Elder assumes Coronado decided to preserve liquidity at a time of softer coal prices. Still, "this surprised us given 0.5 U.S. cents/share had been consistently declared at each half year result throughout 2023 and 2024." Coronado's share price is down 2% at A$0.25. ([email protected]; @dwinningWSJ)

0030 GMT - South32's aluminum-making margins could face a squeeze as Indonesia rapidly expands its aluminum sector, Jefferies analysts say in a note. "The aluminum supply-chain build out in Indonesia may erode the price floor established by China's smelting cap, pressuring pricing and realizations for S32's aluminum business and diluting the integrated cost advantage," the analysts say. The analysts are also concerned about margin pressure in South32's manganese business. The miner's Gemco operations are returning to a crowded market in terms of supply, which might impact price realizations in the near term, they say. Jefferies downgrades South32 to hold from buy. Its target on the stock is cut to A$3.20 from A$3.40. South32 is down 1.3% at A$3.03. ([email protected]; @RhiannonHoyle)

2346 GMT - Macquarie thinks electronics retailer JB Hi-Fi has made a prudent change to its dividend policy. JB Hi-Fi will now pay out 70%-80% of its net profit as dividends, up from 65% before. That will result "in more consistent cashflow returns to shareholders while still permitting balance sheet flexibility for strategic investment," says Macquarie. JB Hi-Fi this week declared a special dividend of A$1.00/share on top of its ordinary final dividend of A$1.05/share. Macquarie had expected a special dividend, albeit A$0.80/share. "All else equal, JBH will remain in a A$60 million net cash position following payment of the final and special dividends," Macquarie says. ([email protected]; @dwinningWSJ)

2342 GMT - Macquarie is puzzled by the oil price implied by Woodside Energy's stock.It states that Woodside's share price is trading above levels seen in June, when Brent crude - the global oil price benchmark - was between US$75 and US$80/bbl. That's significant because June was when the market was assessing risk scenarios for oil shipments through the Strait of Hormuz following Israel's strikes on Iran. Now Brent oil has fallen to the US$66-US$68/bbl range. "Implied oil price on our model is US$62.50/bbl in risked base case (or) US$53.75/bbl if Trion & Louisiana LNG fully derisked," says Macquarie, referring to its growth projects in the Gulf of Mexico. ([email protected]; @dwinningWSJ)

2321 GMT - Life360's bull at Citi reckons that investors could respond positively to the tracking-app provider's quarterly update despite the lack of a guidance upgrade. Analyst Siraj Ahmed had expected the dual-listed company to raise its full-year Ebitda guidance, but thinks that the scale of its June-quarter earnings beat could be enough to push shares higher. Ahmed tells clients in a note that Life360's 2Q Ebitda of US$20 million was 50% above consensus, with advertising revenue a likely driver of the beat. Lower operating costs and higher-than-expected hardware earnings are among the other positives, he writes. Citi has a "buy" rating and US$90.00 target price on Life360's U.S.-listed stock, which closed at US$73.74. ([email protected])

2240 GMT - Life360's bull at Jefferies is surprised by the timing of the tracking-app provider's CEO switch and wonders what investors will make of it. Analyst Wei Sim tells clients in a note that the transition from founder Chris Hulls to Lauren Antonoff was well flagged, but has come earlier than he had anticipated. Sim recalls prior comments by then CEO Hulls that he would look to do other things if company growth slowed. There's been no slowdown so far, so Sim wonders if investors will see Hulls' switch to executive chair as a sign of something ahead. Jefferies has a "buy" rating and A$50.00 target price on Life360's Australia-listed stock. Shares are at A$37.82 ahead of the open. ([email protected])

2238 GMT - Costume jewelry retailer Lovisa has been noticeably quiet on its strategy since John Cheston succeeded Victor Herrero as CEO in early June. That keeps Jefferies cautious for now. Still, Jefferies lauds Lovisa's apparent acceleration in rolling out new stores. It may have as many as 1,068 through July, compared to the bank's forecast of 980 at end-June. Analyst John Campbell says most new stores are in Europe or North America, which is positive given these are affluent regions. "Whilst consumer discretionary remains weak globally, the rate-cut cycle should start to deal with that," Jefferies says. Lovisa's annual earnings are due on Aug. 27, and Jefferies is watchful for any shift in the rollout strategy and commentary around margin sustainability. It has a "hold" call on Lovisa. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires