0116 GMT - Aristocrat Leisure's A$750 million buyback extension is larger than its bull at Citi had anticipated. The Australia-listed slots maker still has A$50 million remaining on its existing A$750 million on-market buyback program, analyst Adrian Lemme writes in a note. With the total A$1.5 billion buyback slightly larger than Lemme had assumed, he raises his EPS forecasts for the three fiscal years through FY 2028 by between 0.4% and 0.7%. Citi has a buy rating and A$71.00 target price on the stock, which is up 1.9% at A$57.75. ([email protected])

0104 GMT - Fresh Rio Tinto-Glencore talks on a possible tieup appear to clash with a strategy from Rio's new CEO to simplify the business, according to Macquarie analysts. "The strategy does seem inconsistent with Rio's one-month-old 'stronger, faster, simpler' thematic of the recent capital markets day," the analysts say. They note that no details have been shared yet on any possible deal. Still, "the surprise move by RIO to resume talks with GLEN could cast doubt on RIO's valuation and investment thesis even beyond the Feb. 5 'put up or shut up' deadline," they say. They put their large-cap preference under review, highlighting the potential for dilution from an all-scrip deal. They also note a control premium will likely be demanded by Glencore. Rio is down by 4.9%. ([email protected]; @RhiannonHoyle)

0039 GMT - Combining Rio Tinto and Glencore could be complex, but Jefferies reckons "there is a path to significant value creation for both." One possibility is that Glencore carves out its coal business and then sells itself to Rio at a sizable premium, Jefferies analysts say in a note. This could have substantial cost benefits, including in marketing. The combined business would be the world's No. 1 miner by market value and hold prized assets in iron ore, aluminum, and copper, with a strong pipeline of copper growth options. Another option is that the companies merge their iron ore and coal businesses as an Australian-listed business, and then separately list their base-metals assets. This "could have problematic tax implications and would be difficult to structure," the analysts say. They also question whether BHP might emerge "as a potential interloper." ([email protected]; @RhiannonHoyle)

0006 GMT - QBE Insurance is seen by Morgans analyst Andrei Stadnik as having more catalysts than its Australia-listed rivals heading into next month's earnings announcements. Stadnik tells clients in a note that QBE has fewer options on reinsurance, where falling prices are expanding margins, but that there are plenty of positives to bear in mind. He reckons that investors do not give QBE sufficient credit for good management of its catastrophe costs. Its budget on this front looks stronger than Suncorp's, he adds. QBE could also tighten its reinsurance and give investors additional targets, such as reserve releases. Morgans trims its target price 0.9% to A$22.80 and keeps an overweight rating on the stock, which is up 0.7% at A$20.07. ([email protected])

2203 GMT - Life360's bull at Citi keeps a buy rating on the stock despite thinking that the market is overly optimistic on the tracking app developer's 2026 profit margin. Analyst Siraj Ahmed says in a note that he sees hardware margins for the period coming under pressure from the company's relocation of manufacturing to Malaysia, and its selling of its new pet tracker below cost. As a result, his 2026 Ebitda forecast sits about 3% below consensus. Nonetheless, he sees upside to his 2025 Ebitda forecast from strong subscriber growth. Citi cuts its target price 18% to $79.50 on lower valuation multiples of peers. The stock closed flat at $65.06. ([email protected])

2230 GMT - Citi analyst Nigel Pittaway wonders how much longer Perpetual's efforts to sell its wealth-management business will take, flagging the value of the brand as a likely point of contention. The Australian company has been in exclusive talks with Bain Capital since November. Pittaway sees the value of the Perpetual brand, which may be integral for the company's residual corporate trust business, as a key discussion point in any deal. He tells clients in a note that a sale for A$500 million plus appropriate brand value, with only a modest capital gains tax impost, would be positively received by investors. Citi trims its target price 1% to A$20.60 and stays neutral on the stock, which is at A$19.37 ahead of the open. ([email protected])

(END) Dow Jones Newswires

January 08, 2026 23:01 ET (04:01 GMT)