2221 GMT - NextDC's gearing looks elevated but manageable to the data-center operator's bull at Jefferies. Analyst Roger Samuel maintains a "buy" rating on the Australia-listed stock, telling clients in a note that it looks adequately funded for the next two years. He conceded that NextDC's net-debt-to-contracted-earnings ratio looks high, but points out that this will fall as the company announced more new contracts. Samuel forecasts annual Ebitda to more than double between the current 2026 fiscal year and fiscal 2028. Jefferies cuts its target price 8.6%, to A$18.10, on higher capital expenditure forecasts for fiscal 2028. Shares are at A$12.73 ahead of the open. ([email protected])

2157 GMT - Plumbing-fittings retailer Reece's increased share-buyback program reflects three key positives, says Ord Minnett. Reece says it now intends to repurchase shares worth A$85 million, up from an original goal of A$35 million. It follows a A$365 million buyback that was completed in October. Analyst James Casey says the bigger target illustrates management's view that the stock may be undervalued. It also underscores the company's robust financial position and disciplined capital-allocation approach, and confidence in the business's long-term outlook. Ord Minnett has a "buy" call on Reece and A$14.50/share price target. Reece ended Monday at A$13.05. ([email protected]; @dwinningWSJ)

0500 GMT - Furniture retailer Nick Scali jumps 11% after pleasing investors with a trading update that included an upgrade to revenue and profit guidance. Nick Scali now expects 1H revenue growth of 10%-12% on year in Australia and New Zealand. That is above its previous guidance of 7%-9% growth. It also forecast 1H net profit from the range of A$37 million-A$39 million, beating prior guidance of A$33 million-A$35 million. "Today's update reinforces our view that solid momentum in the ANZ business is translating into earnings growth," says Jefferies analyst Naveed Fazal Bawa. Jefferies rates Nick Scali a buy. Nick Scali was at A$23.48 just before the close of trading. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires