0035 GMT - AMP's improving wealth flows still lag those at specialist peers, earning the stock continued caution from UBS analysts. Maintaining a neutral rating on the stock, they tell clients that rolling 12-month flows into AMP's North platform are solid at 3% of funds under management, but are still well below Hub24's 23% and Netwealth's 16%. They also observe that there is little to suggest that AMP's new digital bank for small- and medium-sized enterprises is shifting the dial on the desposit-to-loan ratio, or driving growth in at-call deposits. UBS lifts its target price 5.4% to A$1.95. Shares are down 3.5% at A$1.8425. ([email protected])

0013 GMT - Catapult Sports' bulls at UBS see the athletic-tech provider's latest acquisition supporting their continued buy rating on the stock. UBS analysts tell clients that the acquisition of scouting platform Impect secures what was widely known to be a key missing module in Catapult's overall video offering. They see the US$46 million up-front price as reasonable and like the fact that the founders are locked in for four years. Organic growth remains strong and the analysts lift their fiscal 2027 management Ebitda forecast by 18%. UBS increases its target price by 21% to A$8.50. Shares are down 3.0% at A$7.08. ([email protected])

2332 GMT - AMP needs to stage a real-time demonstration of the tech it says is best in class before Macquarie analysts consider turning more positive on the stock. They raise their forecasts for the Australian wealth manager to reflect stronger flows in its platforms business, but tell clients in a note that they still need to see a live walk-through of the company's North platform. The analysts also observe that they are still waiting on comment about AMP's strategic plans for its bank. Macquarie lifts its target price 4.7% to A$1.80 and stays neutral on the stock. Shares are down 3.9% at A$1.835. ([email protected])

2320 GMT - Westpac's A$273 million restructuring charge comes as no surprise to its bears at Morgan Stanley. Analysts Richard E. Wiles and Sally Hong say the restructuring program has been well flagged by the Australian lender and employee cuts already reported. They tell clients in a note that the up-front costs of Westpac's efforts to simplify its technology, improve productivity and regain lost market share will weigh on its fiscal 2026 earnings. Morgan Stanley has a last-published "underweight" rating and A$31.60 target price on the stock, which is flat, at A$39.05. ([email protected])

2223 GMT -- Jefferies analyst Roger Samuel advises any investors looking for exposure to Australian data-center stocks to stick with established players such as NextDC. He tells clients that demand is strong across the board and that all center providers could benefit, but points to NextDC's ample available capacity in Melbourne as a significant advantage. He compares this with the capacity challenges at DigiCo and Macquarie Technology, both of which he says are close to running out of capacity based on current contracts. Jefferies has a buy rating on NextDC. It rates both DigiCo and Macquarie Technology at hold. ([email protected])

2201 GMT - Australian energy company Santos is a bruised name following the collapse of takeover talks with the XRG-led consortium, but it appeals more to Morgans than before. Morgans upgrades Santos to accumulate, from trim. "While not at bargain levels, we view Santos's share price as having drifted into oversold territory," says analyst Adrian Prendergast. He says Santos has a portfolio of core assets that perform reliably and has a clear pathway to growth. "Valuation risk-reward now skews to the upside," Morgans adds. Its price target drops 5.6% to A$6.80/share following Santos's 3Q update. Santos ended Thursday at A$6.38. ([email protected]; @dwinningWSJ)

2159 GMT - Jefferies analyst Wei Sim sees evidence that growth in Life360's user numbers is slowing in line with consensus expectations. Sim points to data from two digital-intelligence providers showing that growth in monthly active users eased over the September quarter. He doesn't seem concerned, telling clients in a note that this is in line with both consensus forecasts and his own estimates for the dual-listed location-tracking app provider. The three-month moving average in user growth remained roughly flat for the period, he adds. Jefferies has a buy rating and A$50.00 target price on Life360's Australia-listed stocks. Shares are at A$49.49 ahead of the open. ([email protected])

2156 GMT - It's a case of near-term pain but long-term gain for investors in 4x4 vehicle parts retailer ARB, suggests Ord Minnett. Current conditions are challenging, analyst James Casey says. Gross profit margins in 1Q are tracking close to levels at the end of FY 2025. "This suggests an approximate 370 basis point year-on-year margin contraction, likely resulting in 1Q net profit falling below the prior corresponding period," Ord Minnett says. Still, it retains a buy call on ARB, anticipating robust demand for its products over the long term. Ord Minnett points to a healthy order book, with new vehicles and products being released globally. "New and refurbished stores, offshore expansion offer solid earnings growth," it adds. ([email protected]; @dwinningWSJ)

2145 GMT - Jefferies appears confident that AIC Mines can bridge the funding gap on its Jericho base-metals mine. It says A$156.2 million of Jericho capex remains outstanding. That comprises A$69.2 million for the Eloise plant expansion, A$53.3 million for the Jericho link drive and mine development, and A$33.7 million for non-plant infrastructure. Analyst Daniel Roden highlights a funding gap of some A$28.2 million. He expects this can be met through free cash flow from AIC's operations. Illustrating that point, AIC's management explained that free cash flow would rise by A$25.6 million if spot commodity prices hold for the remainder of FY 2026. Jefferies retains a buy call on AIC Mines. ([email protected]; @dwinningWSJ)

2140 ET - Wealth manager AMP's 3Q update pleases its bull at Jefferies. AMP reported A$1.2 billion of net inflows and A$3.08 billion in positive market movements. That led to platform assets under management rising nearly 12% on a year ago. For analyst Simon Fitzgerald, consistency is a good thing and his price target on AMP rises 8.9% to A$2.20/share as a result. "The Super & Investments business recorded outflows of A$241 million, which were more than offset by market movements, resulting in assets under management increasing by 8.4%," Jefferies says. "Pleasingly, AMP Bank recorded a minor increase in total loans of 3.4% and New Zealand Wealth Management recorded a 4.7% increase in assets under management." AMP ended Thursday at A$1.91. ([email protected]; @dwinningWSJ)

2137 GMT - Australia's benchmark stock index look set to pull back from a record after U.S. equities retreated amid a sell-off of regional bank shares. ASX futures are down by 0.3% ahead of Friday's session, pointing to a lower open for the S&P/ASX 200, which is coming off a 09% rise that carried it to its first record close since August. Ahead of the open, Lynas Rare Earths said that it had appointed IGO's chief financial officer to its board. Worries of potential losses in loan portfolios of regional banks sent U.S. stocks and Treasury yields lower. The DJIA fell about 0.7%, the S&P 500 lost 0.6%, and the Nasdaq Composite slipped 0.5%. ([email protected])

2136 GMT - 29Metals loses a bear in Jefferies, which finds reasons to be positive despite setbacks at the Golden Grove base-metals mine. Jefferies upgrades 29Metals to hold from underperform. 29Metals said recent seismic activity had restricted access to high-grade zinc deposits at the Xantho Extended area of Golden Grove. That makes the timely deliver of Gossan Valley, near Golden Grove, important. Analyst Daniel Roden says 29Metals is benefiting from a positive macro environment. Also, 29Metals's pre-IPO legacy offtake agreements with Trafigura are expected to close in 2026. "While operational and financial headwinds persist, the supportive macro, expiry of zinc treatment-charge escalators, and 2H26 hedging closure is likely to keep a floor under the price until further clarity on operational momentum is gained," Jefferies says. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires