0027 GMT - Netwealth gets a new bull at Bell Potter on what looks to analyst Hayden Nicholson like an unwarranted discount. Nicholson raises his recommendation to buy from hold, telling clients in a note that the Australian wealth manager's November funds-under-administration update implies an improvement relative to FY 2025 net flows. He reckons that this de-risks the company's FY guidance, although he concedes it's still early in the year. Nicholson says that Bell Potter's channel checks indicate good flow retention, and points out that consensus forecasts haven't moved much since February. Bell Potter raises its target price 5.0% to A$31.50. Shares are up 1.3% at A$27.09. ([email protected])

0026 GMT - BHP and Lundin's application to Argentina's Incentive Regime for Large Investments, or RIGI, is more a procedural milestone than a derisking event, says RBC Capital Markets analyst Kaan Peker. "While directionally positive in indicating continued engagement with federal and provincial authorities, today's announcement does not improve project economics, certainty, or timelines," Peker says. RBC consequently views the update as neutral for BHP, he says. The broker reiterates a sector perform rating and A$49.00 target on the stock. BHP is up 1.8% at A$45.90, amid a rally in Australian mining stocks. ([email protected]; @RhiannonHoyle)

0020 GMT - Sigma Healthcare gets a new pair of new bulls at Morgans, where analysts see the pharmaceutical retailer and supplier as one of Australia's highest growth health stocks. Analysts Scott Power and Emily Porter raise their recommendation to buy from accumulate on recent share-price weakness, telling clients in a note that they still forecast consistent EPS growth of about 20% over the next three years. They don't envisage any problems from union negotiations and expect an agreement on terms for employees at its Chemist Warehouse retail chain. Management's focus on integrating the Chemist Warehouse and supply businesses support the analysts' confidence in revenue and earnings growth. Morgans has a A$3.39 target price on the stock, which is up 0.9% at A$2.905. ([email protected])

2341 GMT - Macquarie analysts see higher Australian interest rates as improving the chances that the country's banks beat short-term earnings expectations. They tell clients that recent significant moves in market pricing for the cash rate and swaps could offer upside to margins. Increased competition could offset all or part of the benefit, but the analysts nonetheless see upside risk that major lenders beat consensus earnings forecasts early in 2026. It's not all good news for bank stocks, though. Higher rates also suggest downside to valuation multiples and housing-market sentiment, they warn. ([email protected])

2335 GMT - Insurance Australia Group's bull at Citi reckons it could still secure the acquisition of RACI despite objections from Australia's competition regulator. Analyst Nigel Pittaway sees a plausible scenario in which the deal is cleared on the grounds of public interest, but warns that the regulator's opposition has delayed any completion by at least 12 months. The route to any approval is long but viable, he adds. Pittaway no longer forecasts any inorganic growth in fiscal 2027. Citi cuts its target price 10%, to A$9.00, and keeps a "buy" rating on the stock, which is up 0.4%, at A$7.78. ([email protected])

2332 GMT - Dalrymple Bay Infrastructure's A$1.07 billion refinancing lowers funding costs, prompting Macquarie to raise its target on the stock to A$5.33 from A$4.91. The bank reiterates an outperform rating. "We think DBI is a unique investment with dividend growth of 5% and a valuation EV/Ebitda multiple of 13x, which is below comparable port multiples," Macquarie analysts say in a note. The refinancing will boost cash flow by roughly A$15 million a year over the next five years, they estimate. The stock is down 0.2% at A$4.84. ([email protected]; @RhiannonHoyle)

2306 GMT - Australia's entrenched inflation is seen by Jefferies analysts as bad news for fashion jewelry retailer Lovisa. Analysts at the investment bank tell clients in a note that stubbornly high inflation, the prospect of further energy-price rises, and expectations of interest-rate rises will weigh on consumer spending. They think that flat discretionary spending is the best that can be hoped for. Furthermore, they already see signs of challenges across the sector in which Lovisa operates. The analysts observe that, across 13 larger players, total store count has fallen by 8% in 18 months and two retailers have entered insolvency procedures. Jefferies cuts its target price 4.2%, to A$32.00, and keeps a "hold" rating on the stock, which is down 0.75%, at A$30.57. ([email protected])

0541 GMT - WiseTech Global's bull at Citi feels better about the logistics-software provider's current-year revenue prospects. Analyst Siraj Ahmed lifts his fiscal 2026 revenue growth forecast by 1% on a stronger contribution from the rollout of so-called value packs under the Australian company's new commercial model. He sees some risk of increased medium-term churn among large forwarders facing significant price increases, which WiseTech thinks its customers could pass on. Ahmed adds that new product development, including of AI features that could help them reduce costs, will be key. Citi maintains a buy rating but lowers its target price by 10% to A$109.15 on lower peer valuation multiples. Shares closed down 2.2% at A$70.99. ([email protected])

(END) Dow Jones Newswires