0105 GMT - After solid 3Q production result from Rio Tinto, "all eyes move to the 2025 capital markets day" on Dec. 4, Macquarie analysts say in a note. The analysts reckon new CEO Simon Trott will use that briefing to "reinforce a simplified operating model" and efforts to reduce costs. Macquarie's earnings estimates for Rio are little changed following the 3Q result. The bank reiterates its neutral rating and A$115.00 target on the stock. "Rio remains the preferred large cap miner," its analysts say. Rio is up 1.1% in Sydney at A$128.78. ([email protected]; @RhiannonHoyle)

0030 GMT - GrainCorp loses its bull at Bell Potter just three months after a positive crop report lured him to the stock. Analyst Jonathan Snape lowers his recommendation to hold from buy, telling clients in a note that the September crop report that had prompted his July upgrade has been played out. The stock jumped more than 20% between mid-July and early October, bringing it close to Snape's target price. Current indicators including on east-coast crop size look in line to support Snape's fiscal 2026 forecasts, he adds. Bell Potter keeps an A$9.10 target price on the stock, which is down 3.1% at A$8.70. ([email protected])

0017 GMT - Catapult Sports' first-half free cash-flow looks better than expected at Bell Potter once costs of the sports-tech provider's recent acquisition are stripped out. Catapult's unaudited free cash-flow of between US$3.7 million and US$4.0 million fell short of analyst Chris Savage's US$5.5 million forecast, but he points out that the company's figures include about US$3 million in transaction costs related to the acquisition of Perch. Stripping this out, he tells clients in a note that free cash-flow would have been between US$7.2 million and US$7.5 million. Bell Potter raises its target price 25% to A$7.50 and keeps a hold rating on the stock, which is down 2.4% at A$7.29. ([email protected])

0015 GMT - Evolution Mining's 1Q free cash flow is weaker than expected, weighed by working capital headwinds, Citi analyst Kate McCutcheon says in a note. Still, "record net mine cashflow highlights benefits of being unhedged," says McCutcheon. She doesn't see any particularly negative surprises in the 1Q result, and notes tailwinds from a rising gold price. Citi has a neutral rating and A$10.50 target on Evolution. The stock is down 2.4% at A$11.145. ([email protected]; @RhiannonHoyle)

2354 GMT - Bank of Queensland's annual result shows the Australian regional lender making steady progress on reshaping its overall franchise, UBS analysts say. With the bank's 2H performance sitting mostly in line with consensus estimates, the UBS analysts write in a note that it is clearly becoming a more streamlined and focused organization. They like the progress made by its retail bank digital strategy and the impact of business lending on profitability. They reckon that BOQ could become even more profitable despite challenges around the cost of equity. UBS has a last-published sell rating and A$6.50 target price on the stock, which is up 3.5% at A$7.37. ([email protected])

2345 GMT - Baby Bunting's new store strategy shows early promise, but not enough to turn Macquarie analysts bullish on the stock. Maintaining a neutral rating on the baby goods retailer, they tell clients in a note that they remain conservative while watching for signs of further traction. They like the improved sales momentum at the Australian company's handful of refurbished stores. They point out that Baby Bunting has reiterated its expectation to refurbish up to a dozen outlets across fiscal 2026. Macquarie lifts its target price by 26% to A$3.15. Shares are down 1.7% at A$2.95. ([email protected])

2326 GMT - Aussie Broadband's bulls at Citi are encouraged by the telecommunications provider's surge in connections so far this month. They aren't worried by September's slowdown and point out that the October run rate of 9,900 net additions is well ahead of their forecast for 7,500 a month across the December half. They tell clients in a note that it is reasonable to assume that solid momentum should continue through the remainder of the fiscal first half. They forecast the Australian company to reach 833,200 broadband connections by Dec. 31. Citi keeps a "buy" rating and A$6.15 target price on the stock, which is up 2.5%, at A$2.45. ([email protected])

2210 GMT - SRG Global's A$85 million acquisition of marine infrastructure services business Total AMS ticks many boxes strategically, says Euroz Hartleys. The deal should give an immediate boost to SRG's earnings, add exposure to strong growth markets in marine-orientated infrastructure and comes with a strong work-in-hand position of A$600 million, it says. Euroz Hartleys lifts its price target by 33%, to A$3.40/share, on what it considers to be conservative forecasting. Analyst Gavin Allen says a "further re-rate beyond this is certainly possible, perhaps even likely, consistent with the quality of earnings, track record, opportunity in infrastructure, structural tails winds broadly and in comparison to peers." SRG ended Tuesday at A$2.65. ([email protected]; @dwinningWSJ)

2254 GMT -- Beacon Lighting needs a slight pickup in sales in 2Q to meet Ord Minnett's expectations. Beacon said yesterday the positive sales momentum experienced in 4Q of FY 2025 and the early part of 1Q of FY 2026 had moderated in late August and September. For Ord Minnett, this suggests flat same-store sales growth. "It is worth noting, in terms of sales and profitability, the 2Q is significantly more important than the 1Q," analyst James Casey says. Ord Minnett trims its net profit forecasts for FY 2026-FY 2028 by 1.6-4.3%. It retains a buy call on the stock. "We believe Beacon Lighting remains well positioned to benefit from an eventual upturn in housing activity, lower interest rates and improved consumer spending," Ord Minnett says. ([email protected])

2149 GMT - Paladin Energy's 1Q result was decent but Ord Minnett can't justify sticking with a "hold" call on the uranium miner's stock. "We believe Paladin's +100% share price rally over the past 6 months has outpaced its fundamentals," analyst Matthew Hope says. Paladin dug up a record 1.07 million lb of U308, a common compound of uranium, in 1Q. Ord Minnett says quarterly unit costs of US$41.6/lb were impressive. "Sales volumes were the only blemish at 533,000 lb," given they missed consensus forecasts of 908,000 lb in a big way, the bank says. Ord Minnett cuts its target price by 1.3%, to A$7.50/share, driven by 3%-5% reductions in forecasts for FY 2026/27 spot and term U3O8 prices. Paladin ended Tuesday at A$9.62. ([email protected]; @dwinningWSJ)

2142 GMT -- Australian retailer Baby Bunting loses a bull in Ord Minnett after its share price surges 77% since mid-August. Analyst James Casey notes Baby Bunting is part way through an earnings turnaround and has ambitious growth targets. Meeting those goals involves significant investment in its store network to drive sales growth. Ord Minnett highlights that Baby Bunting's overhaul of its store network and related expenses mean earnings will be heavily weighted to 2H. "We move to a Hold rating, from Buy, given execution uncertainties in FY 2026 and the recent sharp share price appreciation," the bank says. Baby Bunting ended Tuesday at A$3.00. ([email protected])

0534 GMT - Aussie Broadband's trading update is seen by E&P analyst Entcho Raykovski as suggesting potential upside to his fiscal 2026 connections forecast. He makes no changes to his forecasts following the telecommunications provider's trading update, but tells clients in a note that subscription growth picked up following the increase in speeds to the government-owned national broadband network on which the company operates. If this persists, Raykovski reckons that full-year connections could be stronger than his estimates. E&P keeps a positive recommendation and A$6.00 target price on the stock, which closed 3.1% lower at A$5.60. ([email protected])

0527 GMT - Macquarie raises its long-term neodymium-praseodymium, or NdPr, price forecast to US$110/kilogram, from US$95, as it reckons the MP Materials-Defense Department deal will establish a price floor for the light rare earths. In a note, analysts at the bank say the rare-earths market is continuing to tighten. They forecast a small deficit in the NdPr market in 2025, estimating supply of 108,000 metric tons and demand of 110,000 tons. "NdPr prices are likely to peak at US$120/kg by late 2026-early 2027, driven by strong magnet demand from EVs, white goods, and electronics, amid limited supply response," say the analysts. After that, expansion from Lynas, MP Materials and greenfields projects may ease tightness in the market, they say.([email protected]; @RhiannonHoyle)

0354 GMT - Treasury Wine Estates' outlook is becoming increasingly unclear to Macquarie analysts due to changing dining habits and China's attempt to rein in excess among its civil servants. They tell clients in a note that two thirds of Treasury's prestigious Penfolds wine is consumed in Asia, with China accounting for the majority. They say that a government ban on large-scale banquets and alcohol consumption by civil servants is weighing on demand for Penfolds, while the broader industry is contending with a shift away from restaurant dining. It's hard to become more positive without a strategy update from the new CEO, they add. Macquarie cuts its target price by 20% to A$6.40 and stays neutral. Shares are up 2.0% at A$6.05. ([email protected])

0346 GMT - Catapult Sport's latest acquisition looks reasonably priced to its bulls at UBS. The investment bank's analysts unpack the purchase price, noting that the upfront US$46 million cash payment the sports-tech provider will pay for Impect represents 5.6 times its sales. They tell clients in a note that the subsequent US$32 million in shares and US$12 million in potential earnout equity on offer over the next four years lock in Impect's founders and motivate their performance. The UBS analysts see the key questions being how Catapult can integrate Impect's scouting capabilities and enable the Australia-listed company to better compete with market leader Hudl. UBS has a last-published buy rating and A$7.00 target price on the stock, which is up 2.2% at A$7.40. ([email protected])

(END) Dow Jones Newswires