0433 GMT - Corporate Travel Management's fiscal 2025 earnings could be back at pre-Covid levels, RBC analyst Wei-Weng Chen says. With the Australian travel booker's results delayed for a review of its historical accounts, Chen suggests that its annual Ebitda could be lower than A$150 million, which he tells clients in a note is around fiscal 2019 levels. The big difference is that fiscal 2019 Ebitda was generated off A$447 million of revenue. Consensus estimates have Corporate Travel's fiscal 2025 revenue at A$695 million. RBC has a last-published sector perform rating and A$15.00 target price on the stock, which is in a halt at A$16.07 and hasn't traded this week. ([email protected])

0204 GMT - Australian grocer Coles was a little ahead of consensus in its FY 2025 result, Jarden analysts tell clients in a note. They say Coles's annual net profit of some A$1.1 billion was 2% ahead of Jarden's expectations and 1% ahead of market consensus, while the final dividend of 32 Australian cents a share was ahead of Jarden's estimate of 29 Australian cents. The analysts add that overall, it felt like there was more optimism in the tone of the release, given that Coles also disclosed a strong start to FY 2026. They wonder if Coles outperformed or if its key rival Woolworths, which reports results later this week, also had a similar lift. Coles shares were up more than 9% in recent trade. ([email protected])

0148 GMT - Coles CEO Leah Weckert tells analysts on a conference call that the Aussie grocer is seeing "green shoots" regarding customer sentiment. She says that comes from recent interest-rate cuts and people feeling a bit more optimistic about household budgets going forward. That's helping Coles at the moment, which said in its annual result Tuesday that there had been growth across both transactions and basket size in its supermarkets unit. But Weckert says the shift in sentiment could be a headwind over the longer term if consumers start eating out more. "We've definitely got that front of mind as we head into the remainder of the year," Weckert says. For now, investors seem pleased: Coles shares are up nearly 9% after the grocer reported a 2.4% rise in normalized annual net profit. ([email protected]; @Mike_Cherney)

0134 GMT - Fortescue has delivered a good result, with its hematite business, at least, going from strength to strength, says Morgans analyst Adrian Prendergast. "But at [circa] A$20.00 it is hard to see the value upside from here," Prendergast says. Fortescue either needs benchmark iron-ore prices to break above their recent ranges or a definitive move to jettison energy projects, he says. "Our concern is that the fundamentals of FMG's base hematite business is probably too strong, in the near-term at least, for FMG to consider cutting its value-eroding energy ambitions." Morgans has a hold rating on Fortescue. The stock is down 1.7% at A$19.67. ([email protected]; @RhiannonHoyle)

0123 GMT - Seek's bulls at Morgan Stanley say that any improvement in the Australian job advertiser's domestic volumes represent upside to their fiscal 2026 forecasts. The MS analysts stress that they see recent volume weakness as cyclical rather than structural. They forecast 19% Ebitda growth for Seek's current fiscal year despite an assumption of flat ad volumes. They tell clients in a note that pricing and yield growth underpin their expectations, so any uptick in volumes is an additional positive. MS lifts its target price 8.0% to A$32.50 and maintains an overweight rating on the stock, which is down 0.6% at A$27.88. ([email protected])

0108 GMT - Aussie Broadband's 20% share-price jump still doesn't reflect its growth profile as it challenges incumbents, in the view of UBS analysts. Keeping a buy rating on the stock, they tell clients in a note that challenger brands including Aussie Broadband can grow their collective market share to 35% from 20% currently. They reckon this equates to a A$3.1 billion revenue opportunity. Aussie Broadband's six-year wholesale contract with More adds further leverage, they add. The stock is trading at 20 times FY 2027 cash earnings, which the UBS analysts view as very defendable. Its target price rises 29% to A$6.00. Shares are down 1.1% at A$5.30. ([email protected])

0051 GMT - Property for Industry could close some of its valuation gap by selling assets, suggests Forsyth Barr. Property for Industry trades 18% below its net tangible assets. That implies some 75 basis points of cap-rate expansion or a 12% change in asset values, despite book values of its property rising in 2H of FY 2025, analyst Rohan Koreman-Smit says. "Transactions in line with book values suggest asset sales could part-fund the development pipeline and help close the net-tangible-assets gap," Forsyth Barr says. It notes around 2% of Property for Industry's portfolio is deemed non-core, or around NZ$40 million worth of real estate. These are likely higher-yield assets not located in Auckland, the bank says. ([email protected]; @dwinningWSJ)

0049 GMT - Ansell's probable medium-term EPS growth looks captured at the stock's current levels, Macquarie analysts say. The think that the earnings growth is positive and flag the personal-protective equipment maker's operational excellence in mitigating the impact of U.S. tariffs, but see nothing to make them turn more bullish on the stock. They forecast fiscal 2026 EPS at the midpoint of Ansell's US$1.33-US$1.45 guidance range, telling clients in a note that earnings growth will be driven by modest volume improvements. Acquisition cost synergies support their 14% Ebit margin forecast. Macquarie lifts its target price on the stock by 1.5% to A$33.50 and maintains a neutral call. Shares are down 0.3% at A$34.42. ([email protected])

0042 GMT - Aussie Broadband's new wholesale agreement cures any hangover still felt from the loss of its deal with Origin Energy, Citi analyst William Park writes in a note. He says that Aussie Broadband's six-year contract with More could potentially fill a void left by Origin, with a good chance of upside given More is 40% owned by Commonwealth Bank and partners with Australia's largest bank. In summary, Park thinks that the agreement should deliver a step-change to Aussie Broadband's wholesale earnings profile. Citi raises its target price 28% to A$6.15 and keeps a buy rating on the stock, which is down 1.3% at A$5.29. ([email protected])

0036 GMT - Nanosonics rises 11% to A$4.57 following its annual result, with RBC Capital Markets calling it a relief rally as shares in the medical-device maker had been weak for a while. Nanosonics reported an underlying net profit of A$20.7 million in FY 2025, above RBC's A$17.7 million forecast. It also provided maiden revenue guidance of A$215 million-A$223 million for FY 2026, implying 8-12% growth, along with other forecasts. "Management's guidance includes A$4 million of tariff impact, although there are some mitigation strategies expected to offset the majority of tariff impact at the pretax profit level," says analyst Craig Wong-Pan. Nanosonics is on course for its best close since mid-May. ([email protected]; @dwinningWSJ)

0035 GMT - Jefferies analysts will be impressed if Ansell delivers on its ambition of fully offsetting the impact of U.S. tariffs through price rises. They reckon that imports into the U.S. will bear a weighted average tariff of about 32%. The Jefferies analysts tell clients that ongoing tariff uncertainty is a barrier to them becoming more bullish on the stock, but they see plenty to be positive about. They forecast 12% revenue growth in fiscal 2026. Jefferies lifts its target price 18% to A$39.00 and maintains a hold rating. Shares are down 0.6% at A$34.33. ([email protected])

2342 GMT - Iron-ore demand will remain the key near-term catalyst for Fortescue's shares, "with emphasis on China policy decisions," Jefferies analyst Mitch Ryan says in a note. There are no material operational updates in Fortescue's FY earnings report, and guidance remains unchanged, he says. Jefferies has a hold rating and A$17.50 target on Fortescue. The stock last traded at A$20.00. ([email protected]; @RhiannonHoyle)

2336 GMT - Expect a small negative reaction for Fortescue's stock today after a minor miss on FY profit, RBC Capital Markets analyst Kaan Peker says in a note. The miner's annual net profit of US$3.37 billion falls short of a consensus estimate of US$3.49 billion. RBC is also disappointed by Fortescue's final dividend, Peker says. "With FMG finishing FY25 with a strong balance sheet, posting a net debt of US$1.1 billion (as reported in 4Q), we had thought there could be upside to the dividend, but this hasn't come through," says Peker. Fortescue's A$0.60 final dividend compares to consensus expectations of A$0.602. RBC expected A$0.63. RBC has an outperform rating and A$20.00 target on Fortescue. The stock last traded at A$20.00.([email protected]; @RhiannonHoyle)

0618 GMT - Zip's bull at Citi concedes that their margin and cost forecasts could both turn out to be conservative. Retaining a buy rating on the stock, analyst Siraj Ahmed tells clients in a note that the Australia-listed buy-now-pay-later provider's fiscal 2026 net transaction margin could surpass his improved 3.94% forecast. Lower funding costs and interest-rate cuts are supportive, but he sees some risk around U.S. bad debts. As for operating expenses, he thinks that marketing expenditure will rise and forecasts a 20% rise in employee expenses amid hiring. Citi lifts its target price 45% to A$4.50. Shares closed 7.5% higher at A$4.03. ([email protected])

(END) Dow Jones Newswires