0501 GMT - Baby Bunting's bulls at Morgan Stanley see the baby-goods retailer's store roll-out target becoming increasingly credible. The Australian company aims to add 80 stores to its current 75 and the MS analysts say they have more confidence in this happening than they did 18 months ago. They tell clients in a note that improved margins and a focus on a new store format are all positive. They concede there are risks from cyclical consumer headwinds, costs and whether customers ultimately take to the new format, but keep an overweight rating on the stock. Target price rises 20% to A$3.60. Shares are down 1.7% at A$2.94. ([email protected])

0453 GMT - The price of copper "will need to rise dramatically" to spur enough investment in new mines to meet demand, Shaw and Partners analysts say in a note. Bringing on new copper supply is challenging and production costs are likely to rise, say the analysts. "Expansions of existing mines are becoming increasingly expensive, and new projects often involve lower-grade ore and higher development costs," they say. "This is compounded by the slow pace of new discoveries and stricter environmental and social standards, creating a bottleneck that prevents a rapid increase in supply to meet growing demand." Shaw expects copper to average $10,524/metric ton next year, versus consensus of $9,786/ton and spot of $10,287/ton. The broker's key copper stock picks are AIC Mines, Aurelia Metals and Sunstone Metals. ([email protected]; @RhiannonHoyle)

0451 GMT - Premier Investments' share price doesn't reflect the potential turnaround at the Australian retail group, Macquarie analyst James Wilson reckons. Even so, the valuation opportunity isn't enough to turn him bullish on the stock. He tells clients in a note that Premier's Peter Alexander sleepwear brand is continuing to perform well in Australia, which offsets the slow turnaround at its Smiggle stationery chain and the impact of its investments in launching Peter Alexander into the U.K. market. He sees potential for successful international expansion of both businesses, and points out that Premier's strong balance sheet gives it deployment options. Macquarie cuts its target price 4.6% to A$20.80 and stays neutral on the stock, which is down 2.75% at A$19.78. ([email protected])

0448 GMT - Life360's bulls at Morgan Stanley don't think that the location-app developer's price fully reflects the prospects for its new pet-tracking service. The MS analysts see potential upside in subscriber growth, retention and revenue from the bundling of the service to 11 million dog-owning families among Life360's user base. They also think that Life360 could launch new partnerships with third parties that increase the utility of its platform. They say in a note that they are looking forward to the dual-listed company's 3Q results in November and news on early take-up of the pet service. MS lifts its target price on Life360's Australia-listed stock 15% to A$58.50 and stays overweight. Shares are up 3.7% at A$52.87. ([email protected])

0440 GMT - Morgan Stanley analysts think that some observers are missing the size of the likely second-half skew in Macquarie's earnings. Their forecast for 6% first-half earnings growth significantly lags behind consensus, but they think that analysts elsewhere aren't seeing the full picture. They say in a note that a recent client compensation agreement and risks of green-energy asset write-downs could also weigh on profit. However, they think that a recovery in global capital markets and commodities revenues should drive a powerful second-half recovery. They are looking for 12% earnings growth across the full year, and their annual net profit forecast is broadly in line with consensus. MS stays equal-weight on the stock and lifts its target price by 4.6% to A$226.00. Shares are up 0.4% at A$216.82. ([email protected])

0212 GMT - Liontown Resources provides some additional disclosures on its FY 2025 results call, including that it expects capital expenditure of A$55 million-A$70 million from FY 2028 onward, Citi analyst Kate McCutcheon says in a note. That compares to Citi's expectation of roughly A$80 million a year, says McCutcheon. Liontown also flags flat depreciation and amortization in FY 2026 year over year, before a moderation in FY 2027, she adds. Liontown's FY 2025 revenue is in line with expectations, and Citi makes only minor changes to its estimates following the results, McCutcheon says. Citi has a sell rating on Liontown. It raises its target to A$0.50 from A$0.45. Liontown is up 6.1% at A$0.96. ([email protected]; @RhiannonHoyle)

0120 GMT - Growth in the rare-earth supply chain outside of China depends on manufacturers and governments being receptive to higher prices for rare earths produced elsewhere, Morgan Stanley analyst Rahul Anand says in a note. Anand's remarks follow a Reuters report that says G-7 nations and the European Union are considering price floors to encourage production. Already, the U.S. has set a price floor for some light rare earths in a deal with MP Materials. Australian officials say they are also considering price floors for critical minerals. MS remains overweight on Australia's Lynas and Iluka "as key beneficiaries of higher ex-China rare earths prices," says Anand. ([email protected]; @RhiannonHoyle)

0054 GMT - Monadelphous' construction-contract awards this week might quickly be followed by more, Citi analyst William Park says in a note. The contractor has flagged it is waiting decisions on three or four major engineering and construction, or E&C, projects before the end of 1H FY26. "We think MND is well placed to secure these opportunities, which could see MND guide the market up at the AGM later this CY," he writes. Citi has a buy rating and A$23.60 target on Monadelphous. "We remain upbeat on MND and expect E&C growth momentum to dominate the headlines," Park says. The stock is up 0.1% at A$22.18. ([email protected]; @RhiannonHoyle)

2342 GMT - There's an incremental revenue opportunity of A$34.2 million for Lovisa from the closure of 291 Claire's stores in the U.S., according to Citi's estimates. That equates to 4.3% of Lovisa's sales in FY 2025. "Our analysis found that there are 111 Lovisa stores within 10 miles of closing Claire's stores, including 36 stores which are within 5 miles," analyst Sam Teeger says. Lovisa's share price is up some 78% from a low reached in April. It closed Thursday at A$37.31. Citi retains a neutral call on Lovisa's stock with a A$42.50/share price target. ([email protected]; @dwinningWSJ)

2334 GMT -- Volatility in Telix Pharmaceuticals's share price is set to continue -- this time for positive reasons. That's the view of Bell Potter after Telix secured transitional pass through, or TPT, status for its Gozellix imaging agent for prostate cancer in the U.S. "The decision to pursue this strategy (for a refresh on the pass through) has proven to be a master stroke by the company and one that has shown its major competitor in the PSMA imaging market asleep at the wheel," analyst John Hester says. TPT status on Gozellix is effective Oct. 1. Bell Potter assumes an average reimbursement of $5,000 per patient. It retains a buy call on Telix and A$23.00/share price target. Telix ended Thursday at A$15.38. ([email protected])

2317 GMT -- Carnarvon Energy now owns 18-19% of Strike Energy's equity following the latter's capital raising, effectively securing a blocking stake in the Western Australia-focused natural- gas producer. That means Carnarvon "is now integral in any commercial negotiations if Hancock was seeking to fully consolidate the Perth basin Kingia acreage," says Macquarie. Hancock bought 50% of the West Erregulla natural-gas field in 2023 for A$450 million. Strike Energy owns the other 50% of West Erregulla. Macquarie resumes coverage of Strike Energy with a neutral call and A$0.10/share price target. Strike Energy ended Thursday at A$0.105. ([email protected])

2302 GMT - Macquarie stays bullish on Monash IVF as it looks beyond the in vitro fertilization specialist's recent troubles, which include an embryo mix-up at a clinic and an earnings downgrade. Macquarie says these are captured in Monash IVF's share price, which is down some 46% over the past 12 months. "We see upside over the medium-term from an improving macro environment, increased genetic testing, underlying structural demands, demographic and social changes," Macquarie says. It retains a A$1.00/share price target. Monash IVF ended Thursday at A$0.655. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires