0221 GMT - Macquarie is upbeat on Fortescue's new mine plan, which aims to reduce how much of waste rock it moves. "A shift in product strategy with a 1.6x strip target is significant," say the analysts. They raise the company's FY 2030 EPS estimate by 15%, and Macquarie's price target on the stock rises by 12% to US$18.50/share. Still, the bank reiterates an underperform rating. "Our key concern remains undiversified iron-ore exposure," say the analysts. "However, the company appears to be controlling the controllables." Fortescue is down by 1.5% at A$20.53, erasing much of Thursday's 2.4% gain. ([email protected]; @RhiannonHoyle)

0009 GMT - Droneshield's bull at Shaw & Partners hikes his target price on improved revenue forecasts and a higher multiple. Analyst Abraham Akra raises his revenue forecasts by 26% for FY 2026 and by 30% for FY 2027 following the defense-tech supplier's 3Q update. He flags sales visibility through the remainder of 2025 and into 2026, and tells clients in a note that the company's robust pipeline should support multi-year growth. While he also lifts his staff-cost forecasts on Droneshield's global expansion, he lifts his sum-of-the-parts multiple to 35 from 20, reflecting upside risk to sales expectations. Shaw & Partners lifts its target price 39% to A$5.00 and maintains a buy rating. Shares are up 0.85% at A$4.72. ([email protected])

2351 GMT - WiseTech Global's bull at Citi sees positive signs in DSV's freight volume data for the logistics software provider. Analyst Siraj Ahmed tells clients in a note that a low single-digit rise in DSV's September-quarter freight volumes is stronger than his forecast of a flat 1H for WiseTech's CargoWise platform. He also sees DSV's faster-than-expected integration of DB Schenker as boding well for CargoWise, with the additional volumes supporting his expectation of a 2H skew to WiseTech's results. Citi has a buy rating and A$121.35 target price on the stock, which is up 2.5% at A$85.20. ([email protected])

2332 GMT - Cochlear could suffer from its own success in keeping customers happy, Citi analyst Laura Sutcliffe says. She warns that recent weakness in the hearing-implant provider's services unit could persist if users remain happy with their existing devices rather than opt for an upgrade. This concern contributes to Sutcliffe staying neutral on the stock despite the failure of Moderna's potential vaccine against a congenital infection that causes infant hearing loss removing an overhang. Citi has a A$320.00 target price on the stock, which is down 0.5% at A$289.88. ([email protected])

2325 GMT - Insurance Australia Group's bull at Citi says the company's guidance upgrade was already factored into his forecasts and those of his peers. Analyst Nigel Pittaway points out in a note to clients that IAG's upgrade on the acquisition of RACQ Insurance doesn't change its outlook. His forecasts also reflect the acquisition of RAC in Western Australia state, despite skepticism among some analysts that competition regulators will allow the deal to pass. On that basis, he says IAG is trading at a discount to rival Suncorp, which he reckons is hard to justify. Citi keeps a "buy" rating and A$10.00 target price on the stock, which is up 0.75%, at A$8.04. ([email protected])

2258 GMT - The recent pullback in shares of Temple & Webster lures a new bull to the online furniture retailer. Bell Potter analyst Chami Ratnapala sticks by her earnings forecasts, but raises her recommendation to "buy" from "hold" amid easing valuations across Australia-listed consumer discretionaries. She tells clients in a note that she is optimistic about Temple & Webster's prospects for the key holiday trading season, pointing to supportive data points from online peers and a relatively unchallenging prior-year comparison. Bell Potter keeps a A$28.00 target price on the stock, which is at A$23.79 ahead of the open. ([email protected])

2257 GMT - Woodside Energy has had a good week, Morgans says as it turns more bullish on its stock. Woodside's 3Q update was strong, headlined by a 10% revenue beat. Woodside then agreed to an investment by Williams in its $17.5 billion Louisiana LNG project. "Given the magnitude of execution risk Woodside faces at Louisiana, we appreciate the strategy to de-risk infrastructure and feedgas delivery," Morgans says. Woodside is selling a 10% interest in the holding company of Louisiana LNG to Williams, and an 80% stake in the company that owns the pipeline that will run to the facility. "To form a view on the value of the Williams deal we need to gain a better grasp of the pipeline agreement, with the two deals obviously indirectly linked," Morgans adds. It upgrades Woodside to buy, from accumulate. ([email protected]; @dwinningWSJ)

2240 GMT - Karoon Energy looks well placed to overcome recent setbacks in Brazil, signals Morgans. Temporary outages at the Bauna oil field in Brazil weighed on Karoon's 3Q volumes. Still, Morgans notes that Karoon's cash flow held firm. "The temporary well outages have underscored the maturity of the asset base," says analyst Adrian Prendergast. "Yet management's intervention plans, disciplined capex reduction, and stronger balance sheet are material positives balancing the outlook back to positive." It sees a clear path to restore Bauna volumes in mid-2026. Also, Karoon has growth options that include developing the Neon oil field in Brazil. Morgans upgrades Karoon to "buy," from "hold." ([email protected]; @dwinningWSJ)

2201 GMT - Regis Healthcare retains firepower for more deals after acquiring two premium aged-care homes in Victoria state for some A$45 million, Jefferies says. The transaction lifts Regis's portfolio to 8,400 beds. "Regis's strong balance sheet leaves them primed for further expansion when new opportunities present," says analyst Vanessa Thomson. Regis had a net cash balance of A$192 million at end-June, and it will retain a net cash position when the deal in Victoria completes. Also, Regis had A$367 million of undrawn debt at end-June. "Assuming a gearing target of 2.5x, Regis could comfortably draw A$334 million of debt and so retain circa A$33 million in undrawn debt facilities," Jefferies says. Its price target rises 4.2% to A$8.75/share. Regis ended Thursday at A$6.58. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires