0125 GMT - UBS takes a history lesson as it analyzes the impact of the Iran conflict on Australian equities. Its conclusion: geopolitics usually doesn't hurt the Australia market. "Tracing back over 15 previous geopolitical shocks that have occurred over the last 50 years, we find that the impact on the Australian equity market is not much," strategist Richard Schellbach says. UBS finds the market goes up 4%, 5% and 11% over the subsequent three, six and 12 months, respectively. "In fact, with the exception of the first Gulf War, geopolitical shocks tend to have had no real lasting negative impact," UBS says. Also, Australia is a net energy exporter due to its large LNG export earnings. So higher energy prices would hurt the consumer via petrol prices, but the overall economy could be in a wealthier position. ([email protected]; @dwinningWSJ)

0014 GMT - GenusPlus's purchase of rail service provider Railtrain for an initial A$36.5 million is "another great acquisition," Bell Potter says. The deal solidifies GenusPlus's track record of delivering a highly accretive M&A strategy that complements strong growth from assets it already owns, analyst Joseph House says. An acquisition multiple of 2.75X Ebitda, which assumes an additional payment of A$18.5 million is made as Railtrain achieves performance milestones, looks attractive. Other positives are an enhanced Ebitda margin outlook for GenusPlus and an immediate boost to earnings, Bell Potter says. Its price target lifts 5.6% to A$9.50/share. GenusPlus is down 1.2% at A$8.10 today. ([email protected]; @dwinningWSJ)

2354 GMT - Heavy rain that has forced the suspension of production at Boss Energy's Honeymoon uranium mine is just near-term noise, says Ord Minnett. Boss's more pressing concern is whether it still has a long-term viable business case, analyst Matthew Hope says. "Poor continuity of mineralization outside the restart area has rendered Honeymoon's original wellfield design and scheduling uneconomic," the bank says. That's because many more wells than anticipated would be needed to hit nameplate output of 2.4 million pounds of U3O8 annually. Instead, Boss aims to recover low-grade ore, which can only be economic with lower costs and wider-spaced production wells. "Boss believes this concept could work but this approach has not been implemented anywhere else," Ord Minnett says. It retains a sell call on the stock. ([email protected]; @dwinningWSJ)

2329 GMT - Autosports Group's bulls at Macquarie see the vehicle retailer's expansion into South Australia state as part of a strategy that can more than offset any potential softening in the new car market. Keeping an outperform rating on the stock, the investment bank's analysts tell clients in a note that Autosports expects the acquisition of 15 state dealerships to be immediately accretive to earnings. The analysts see potential margin upside as the dealerships are integrated into the group, and flag Autosports' capacity for further inorganic expansion. Macquarie raises its target price 5.9%, to A$5.19. Shares are down 1.75%, at A$2.81. ([email protected])

2314 GMT -- The extent of Endeavour Group's retail turnaround remains uncertain, UBS analysts warn. Keeping a neutral rating on the Australian alcohol and hospitality retailer, they tell clients in a note that recent promotion-led retail sales growth may prove difficult to sustain over the medium term due to structural challenges. They think that Endeavour either needs to reinvest cost savings into further pricing initiatives or offsetting operating deleverage. This would moderate the extent of the turnaround, they add. UBS lifts its target price 6.7% to A$4.00, supported by the strength of its hotels business. Shares are up 3.1% at A$3.96. ([email protected])

2255 GMT - Uncertainty over what level of promotional activity Accent Group will need to engage in continues to hang over the apparel retailer's near-term outlook, UBS analysts say. They flag this uncertainty--against an economic backdrop that could include further interest-rate rises--as a key risk. On the other hand, they also see upside risk to Accent's second-half guidance and fiscal 2027 outlook from currency moves and improved strategy execution. They lower their target price 4.5% to A$1.05 after trimming EPS forecasts on higher net interest costs, but keep a hold rating on the stock. Shares are at A$1.005 ahead of the open. ([email protected])

2244 GMT - Endeavour Group keeps its bull at Bell Potter despite the alcohol and hospitality retailer flagging an uncertain outlook for consumer spending. Analyst Baxter Kirk tells clients in a note that the Australia-listed company's margins are being compressed by pricing and promotions, but that it is partially offsetting cost inflation through savings initiatives. Kirk reckons that expectations are low for the strategy refresh due to be unveiled in May, driving his view that there is plenty of potential upside. Bell Potter keeps a buy rating on the stock and raises its target price 3.75% to A$4.15. Shares are at A$3.84 ahead of the open. ([email protected])

2221 GMT - Endeavour Group has already confirmed its refreshed strategy will include an element of continuity, Morgans analyst Alexander Lu observes. He points out that, while the alcohol and hospitality retailer expects to hold an investor day in May, it has already confirmed two key points. Firstly, the Australia-listed company intends to maintain ownership of a combined retail and hotels portfolio. It also plans to continue investing in pricing at its Dan Murphy's alcohol stores, which it has already been doing over recent months. Morgans trims its target price 1.4% to A$3.65 and keeps a hold rating on the stock, which is at A$3.84 ahead of the open. ([email protected])

2119 GMT - Jefferies offers several reasons why it's sticking with a hold call on Dexus. Dexus's intention to buy back up to 10% of stock can boost its funds from operations and net tangible assets. "However, Dexus is arguably selling office at the bottom of the cycle," analyst Andrew Dodds says. Dexus's balance sheet is under pressure with gearing of 34%. That provides limited scope for Dexus to deploy capital into the buyback without selling assets, Jefferies says. Dexus is also in a dispute with Australia Pacific Airports Corp., with upcoming mediation a looming risk. Jefferies says A$41 million of trading profits made by Dexus in 1H has created a large earnings hole that must be filled in FY 2027. Dexus ended Wednesday at A$6.45, above Jefferies's A$6.10 price target. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires