0403 GMT - There are early signs that mortgage and household deposit growth among major Australian banks is moderating from the strong levels of 2025, Morgan Stanley says in a note. "We believe RBA rate hikes and higher fuel prices increase the probability that a slowdown takes hold in coming months," the U.S. bank says. Annualized mortgage growth of the major banks averaged roughly 3.7% in February and is now tracking below Morgan Stanley's forecasts, the bank says. It adds that household deposit growth at the country's top banks averaged roughly 3.3% in February, well below growth rates of more than 8% in 2024 and 2025. ([email protected]; @RhiannonHoyle)

0309 GMT - UBS slashes its price target on KMD Brands following a heavily discounted equity raise. The bank's target on KMD drops by 50% to NZ$0.14. Shares in the retailer have slumped to a record low on the raise, leading UBS to upgrade its rating on the stock to buy from neutral. "While the raise is clearly painful for shareholders, it materially de-risks the balance sheet, removing funding and covenant pressure," UBS says. Now, "we believe the investment debate shifts from survival to earnings delivery," it adds. The stock is down another 10% at NZ$0.079, taking year-to-date losses to more than 72%.([email protected]; @RhiannonHoyle)

0133 GMT - Investors should like the size of Bank of Queensland's planned roughly A$300 million capital return, says Citi analyst Thomas Strong. But other details of its partnership with Challenger appear to be less robust than anticipated, says Strong. "There remains considerable uncertainty as to how the forward economics will work given the discretion in the forward flow arrangement and unknowns around the fee structures," he says. Citi has a buy rating and A$7.15 target on BOQ. Shares are up 4.9% at A$7.13. ([email protected]; @RhiannonHoyle)

0045 GMT - Rising bond yields prompt Macquarie to pare price targets on most Australian real-estate investment trusts. Macquarie cuts assumptions around asset values by some 6% to reflect the 40bp expansion in real bond yields since end-February. "We continue to assume tighter capitalization rate spreads to real bonds than the long-term average (excluding office which we assume in line with long-term average) to reflect a structural re-rating for retail and industrial," Macquarie says. It also thinks share prices of office landlords are at risk of being marked lower due to growing concerns about AI's potential impact on demand for floor space. Macquarie cuts price targets on Charter Hall by 16% to A$20.71 and Dexus by 8% to A$6.91, among other changes. ([email protected]; @dwinningWSJ)

0035 GMT - Morgans downgrades Woodside Energy to hold, from accumulate, as investors bet that the energy crisis caused by the Iran conflict has legs. Woodside rises 0.5% to A$35.11 today, meaning it's now trading at a premium to Morgans's price target of A$33.40/share. "More upside is certainly possible, with the Iran conflict ongoing and supply still impacted, but the margin of safety that underpinned our constructive rating has been eliminated by the share price strength," analyst Adrian Prendergast says.([email protected]; @dwinningWSJ)

0029 GMT - Mexican food chain Guzman y Gomez serves up a treat with its 3Q sales, sending its shares 17% higher. GYG said comparable sales in Australia rose 6.6% in the latest quarter. RBC Capital Markets says this is stronger than expected and represents an acceleration on the 4.8% growth in 2Q. "With RBC and consensus forecasting 4.87% and 5.13% respectively for 2H26, and in the context of an easier 8.3% comp for 4Q25, we anticipate today's update will drive upgrades to consensus comp sales and group earnings forecasts for Australia," analyst Michael Toner says. GYG was recently at A$17.82. ([email protected]; @dwinningWSJ)

0009 GMT - Ramelius Resources will likely have higher-than-expected all-in sustaining costs in its current fiscal year, not only due to rising fuel costs but also earlier-than-expected production at Dalgaranga, says Euroz Hartleys. "But really who cares--cash and gold generation is the only thing that matters," says the broker in a client note. "We believe that with an aggressive buy back program now underway, the company is trying to tell us something!" it adds. Euroz Hartleys reiterates a buy recommendation and A$6.21/share target. Shares are up 1.1% at A$3.72. ([email protected]; @RhiannonHoyle)

2252 GMT - Pro Medicus this month signaled a willingness to buy back up to 10% of its shares on issue. Citi thinks it ultimately won't be that aggressive with stock purchases. "We do not expect the entire allowance (which would be A$1 billion-plus) to be executed and model A$150 million worth through end FY27," analyst Laura Sutcliffe says. Pro Medicus's share price is down some 64% since its July high. It ended trading before the Easter holiday period at A$118.84. Citi rates Pro Medicus at "buy" with a A$245.00/share price target. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires