0357 GMT - Transurban's premium valuation seems justified by the toll-road operator's relatively stable cash flows and likely yield, Jarden analyst Tom Beadle says. He tells clients in a note that his forecast for a rise in five-year interest costs to A$1.31 billion reflects refinancing risks, but acknowledges that it's possible he's being conservative. He points out that Transurban has historically been proactive in refinancing debt when conditions are favorable, and that his forecast is above consensus. Jarden keeps a neutral rating on the stock and trims its target price by 0.7% to A$13.50. Shares are down 0.3% at A$14.48. ([email protected])

0113 GMT - At first glance, Capstone Copper's 2025 Ebitda result is better than expected, according to MA Financial analyst Paul Hissey. And that is "arguably where it matters most for a mining company," he says. The company appears to have increased inventories slightly, with sales a tad below output, Hissey says. That would make "the result even better when compared to our conservative assumptions," he says. Hissey says the bottom line looks softer, "but requires a closer look to unpack the influence of one-off items." MA has a hold rating and A$14.50 target on Capstone. Shares are down 5.5% at A$13.67. ([email protected]; @RhiannonHoyle)

0052 GMT - Gold producer Resolute Mining's 2025 result was a moderate beat versus market expectations, says Macquarie. It says the company's Doropo project is becoming a key focus as Resolute targets a final investment decision in 1H 2026. By 2030, Doropo is expected to account for roughly 46% of the miner's production, Macquarie says. The bank reiterates an outperform rating and target of A$1.85/share. Resolute is up 1.2% at A$1.66. ([email protected]; @RhiannonHoyle)

2302 GMT - Life360's bull at Citi thinks that the tracking-app provider's annual guidance should be positively received, especially given its track record of upgrading its outlook through the year. Analyst Siraj Ahmed tells clients in a note that the midpoint of the company's $640 million-$680 million guidance is only about 1% ahead of consensus forecasts, but observes that investors had been worried about the 2026 outlook ahead of the result. Lower-than-expected hardware revenue guidance drives a 4% miss relative to Ahmed's forecast, but he acknowledges that the outlook for advertising looks strong. Citi has a last-published buy rating and $82.25 target price on Life360's U.S.-listed stock, which closed at $53.79. ([email protected])

2248 GMT - Life360's bull at RBC Capital Markets thinks that the tracking-app provider's stronger-than-expected 2026 guidance should provide its beaten-down stock with some much-needed relief. Analyst Wei-Weng Chen tells clients in a note that Life360's guidance for annual revenue of between $640 million and $680 million implies upside to consensus Ebitda forecasts. He sees the fact that hardware revenue guidance is weaker than analysts had anticipated as a positive, explaining that this suggests revenue from the new advertising venture is higher than expected. RBC has a last-published outperform rating and A$51.00 target price on Life360's Australia-listed stock, which is at A$24.72 ahead of the open. ([email protected])

2241 GMT - Interest-rate moves are stalling a recovery in share prices of many Australian real-estate investment trusts, Morgan Stanley says. "We had thought that the A-reits were heading into a period whereby the asset-heavy rent collecting stocks will trade at, or above, 1x price-to-net tangible assets, as asset values gain upward momentum," analyst Simon Chan says. Last month's earnings season showed average revaluations rising across every type of property. It was the first time in four years this has happened. However, uncertainty around central bank rate hikes reduced the sector's multiple to 0.9x P/NTA. MS says reits may have a bumpy run to clear 1.0x P/NTA. "But one thing is clear--asset valuations are robust, so fund managers (Charter Hall, Centuria Capital) remain our preferred investment," MS says. ([email protected]; @dwinningWSJ)

2211 GMT - Investors in Summerset shouldn't lose sight of the bigger picture. That's the view of Forsyth Barr, which took the retirement-village owner's guidance around operating margins as a signal that operating expenses in FY 2026 will be higher than its prior expectations. "Summerset has delivered a 19% compound annual growth rate in net tangible assets per share over the last fifteen years and is still growing its unit base 10% per year," analyst Will Twiss says. Summerset's FY25 result was a step toward demonstrating this organic growth trajectory is sustainable, Forsyth Barr says. Net debt was in line with its forecasts. It is expected to stay at the bottom end of Summerset's target range of NZ$2.0 billion-NZ$2.5 billion across FY26 and FY27. Forsyth Barr retains an outperform call. ([email protected]; @dwinningWSJ)

2206 GMT - Channel Infrastructure's final dividend was a nice surprise for Forsyth Barr. Channel Infrastructure declared a payout of 6.75 New Zealand cents a share for the six months through December. That was 0.5 cent higher than Forsyth Barr expected. Channel Infrastructure cited stronger-than-expected 2H cash flows for the improved payout. "The increase sets a new benchmark and is a strong signal from the company that it is confident in the future outlook," analyst Andrew Harvey-Green says. Forsyth Barr retains a neutral call on Channel Infrastructure, which is unchanged at NZ$2.86 today. ([email protected]; @dwinningWSJ)

2200 GMT - Fashion retailer Hallenstein Glasson continues to measure up well for Forsyth Barr. Hallenstein Glasson reported 1H sales of NZ$275.2 million, up 15% on year. That represented a 5% beat to Forsyth Barr's expectations. "While Hallenstein Glasson didn't provide any divisional performance detail, we expect this reflects continued momentum in the Glassons Australia business and accompanying FX benefits," analyst Paul Laxton Koraua says. Hallenstein Glasson also provided maiden 1H pretax profit guidance of NZ$39.3 million-NZ$39.8 million. That implies 2H earnings of some NZ$34 million, Forsyth Barr says. "We continue to view the risk-reward as favorable," says Forsyth Barr, sticking with an outperform call on the stock. Hallenstein Glasson is up 3.2% at A$10.65 today. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires