0318 GMT - Energy markets are underestimating the disruption from the Middle East conflict, according to Commonwealth Bank of Australia analyst Vivek Dhar. CBA reckons the disruption might last months instead of weeks. Brent oil could surge toward $120-$150 a barrel or higher to force demand destruction, says Dhar. "If the conflict is not resolved, oil and refined product prices are at risk of rising to levels not seen in history," he says. "This adds a wild-card element to the outlook." Front-month Brent crude oil futures are up 9.0% at $100.28 a barrel. ([email protected]; @RhiannonHoyle)

0237 GMT - Lynas's new rare-earths supply deal with Japan safeguards a substantial portion of revenue and earnings, says Bell Potter analyst Regan Burrows. The broker upgrades the stock to hold from sell. It raises its target price to A$19.00/share from A$11.60/share. "We continue to see risks around the valuation premium and multiple, which in our opinion are pricing in perfection in an imperfect world," says Burrows. However, the deal reduces the impact of adverse price swings should additional supply enter the market in the coming years, helping to justify Lynas's premium, he says. Lynas is up 0.4% at A$20.67/share. ([email protected]; @RhiannonHoyle)

0224 GMT - Collins Foods gets new bulls at Jarden following the fast-food franchiser's stronger trading update and expansion in Germany. Raising their recommendation to overweight from neutral, Jarden's analysts think that the Australian company's annual guidance looks increasingly conservative following an acceleration in same-store sales growth at the start of its second fiscal half. The acquisition of eight immediately EPS-accretive stores in Bavaria also opens up a new market, they say. The stock has underperformed recently and now offers an attractive risk/reward, they add. Target price rises by 6.1% to A$12.10. Shares are up 5.9% at A$9.99. ([email protected])

0218 GMT - Data on retailer stock intensity and U.S. sales of fast-moving consumer goods support UBS analysts' view that Brambles will report annual revenue at the lower end of guidance. The analysts write in a note that inventory data suggests that Brambles' CHEP pallets business ought to have experienced a slight tailwind during the December half from restocking activity. Brambles' reported volumes for the period were flat, they observe. The analysts add that separate Nielsen data suggests that this soft volume momentum is broadly unchanged into the June half, which rounds out Brambles' 2026 fiscal year. UBS keeps a neutral rating and A$25.40 target price on the stock, which is flat at A$22.61. ([email protected])

2358 GMT - Nine Entertainment could be at risk of being cut from Australia's S&P/ASX 200 at the benchmark stock index's June rebalance, Canaccord Genuity analyst Lachlan Woods warns. While the rebalance's three-month reference period began only recently, Woods flags the Australian media conglomerate as a possible candidate for removal. Nine's market capitalization has fallen since last year's divestment of its controlling stake in property advertiser Domain, and distribution of most of the A$1.4 billion proceeds to shareholders. Woods expects Temple & Webster, SiteMinder, WEB Travel, and Guzman Y Gomez to be removed. He sees 4DMedical, Electro Optic Systems, Alkane Resources and Kingsgate being added, but cautions that other moves are possible depending on M&A activity. ([email protected])

Macquarie Technology's A$200 million investment from an Australian sovereign wealth fund is seen at Canaccord Genuity as a strong endorsement of its business. Analyst Conor O'Prey tells clients in a note that the investment from Australia's National Reconstruction Fund is a particular vote of confidence in the telecommunications provider's cloud services and government offering. O'Prey writes that the investment gives Macquarie Technology significant flexibility over its future funding options. He adds that NRF is likely to have conducted extensive due diligence, so the implied endorsement is a real positive. Canaccord Genuity has a buy rating and A$95.00 target price on the stock, which is down 1.8% at A$65.95. ([email protected])

2341 GMT - The continued outperformance of Australia's two largest city property markets--Melbourne and Sydney--suggests there could be possible upside to REA Group's yield growth guidance, Citi analyst Siraj Ahmed says. Maintaining a buy rating on the stock, Ahmed tells clients in a note that February listings growth in both cities was stronger than national average. He points out that the two cities offer stronger yields for the News Corp-controlled real-estate advertiser. Ahmed acknowledges that higher interest rates are a headwind to activity, but says his forecasts largely factor in likely hikes in March and May. Citi has a A$199.00 target price on the stock, which is down 0.8% at A$168.06. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. ([email protected])

2340 GMT - Macquarie Technology's A$200 million investment from an Australian sovereign wealth fund is seen at Cannacord Genuity as a strong endorsement of its business. Analyst Conor O'Prey tells clients in a note that the investment from Australia's National Reconstruction Fund is a particular vote of confidence in the telecommunications provider's cloud services and government offering. O'Prey writes that the investment gives Macquarie Technology significant flexibility over its future funding options. He adds that NRF is likely to have conducted extensive due diligence, so the implied endorsement is a real positive. Canaccord Genuity has a buy rating and A$95.00 target price on the stock, which is down 1.8% at A$65.95. ([email protected])

FleetPartners' bull at Canaccord Genuity sees its A$20 million buyback as significant for a couple of reasons. Analyst Andrew Hodge tells clients in a note that it signifies management's conviction in the Australian fleet manager's current performance and the trading multiple of its stock. He says it also provides a smoother transition following its previously announced change in capital-management strategy, from primarily buybacks to primarily dividends. Those dividends are likely to drive a stock re-rate over the next 12 months, Hodge adds. Canaccord Genuity keeps a buy rating and A$3.60 target price on the stock, which is up 0.4% at A$2.68. ([email protected])

(END) Dow Jones Newswires