0435 GMT - Australian wealth manager Netwealth remains on track to deliver solid full-year growth despite a volatile March quarter, Morgans analyst James Filius says. He tells clients in a note that market volatility eroded Netwealth's third-quarter performance. It had A$125.8 billion in funds under administration, compared with a consensus expectation of A$129.8 billion. However, Filius points out that net flows of A$3.96 billion were modestly ahead of expectations. He adds that market momentum has recovered from what he calls peak pessimism in the March quarter, which he reckons bodes well for funds under administration. Morgans keeps an accumulate rating and A$29.00 target price on the stock, which is up 0.9% at A$25.45. ([email protected])

0423 GMT - AMP's March-quarter update further lifts Jarden's confidence in the Australian wealth manager's strategy. Jarden's analysts tell clients in a note that AMP's management has delivered much of what they wanted, with a strategic review of its bank the only item still unchecked. They think that a sale either of the bank's loan book or of the whole unit would be preferable to its current digital-focused growth strategy, which they don't see generating returns before 2030. Elsewhere in the business, they are happy to see solid platform net flows and reaffirmed annual guidance. Jarden lifts its target price 6.5% to A$1.65 and keeps an overweight recommendation on the stock, which is down 1.4% at A$1.425. ([email protected])

0415 GMT - TPG Telecom's bulls at Jarden see scope for the Australian mobile provider's earnings growth to outpace the broader industry on strength in its digital-first brands. They see digital-first subscriber growth as high quality, telling clients in a note that a 90% earnings margin means that every 100,000 of net new subscribers adds about A$28 million to TPG's annualized Ebitda. Supporting their optimism, they point out that TPG's pricing of its digital-first brands should resonate with younger consumers, and that a deteriorating economic backdrop should help TPG acquire an outsized share of customers. Jarden lifts its target price by 8.9% to A$4.30 and keeps an overweight rating on the stock, which is up 0.9% at A$4.32. ([email protected])

2349 GMT - Interestingly, Amplitude Energy's second natural-gas contract for its East Coast Supply Project is linked to movements in oil prices, Euroz Hartleys says. Amplitude today said it has agreed to supply 20 petajoules of natural gas to AGL Energy over an initial four-year term. It is due to start in 2H of 2028 if the current drilling campaign in the Otway Basin of southeastern Australia finds enough gas. Analyst Declan Bonnick says the AGL supply deal differs from Amplitude's March agreement to supply 7.5 petajoules of natural gas annually from the ECSP to EnergyAustralia. That contract isn't linked to oil prices. "At current oil prices, substantially high realized prices would be achieved," Euroz Hartleys says of the AGL supply pact. It has a buy call on Amplitude. ([email protected]; @dwinningWSJ)

2325 GMT - Haulage company Lindsay Australia's big footprint means it's well placed to hold or grow its market share as Middle East conflict impacts reverberate through the economy, says Ord Minnett. It points to Lindsay Australia's "national network, scale and rail offering for customers looking for a more cost-effective solution with lower fuel intensity." Rail accounts for over 20% of earnings, analyst Ian Munro says. Lindsday Australia has raised fuel levies to pass on a more than 70% rise in diesel prices since February to customers. Still, Ord Minnett cuts its FY26 and FY27 EPS forecasts by 6% and 11%, respectively, to account for higher depreciation and amortization along with interest charges associated with its lease liabilities. Ord Minnett retains a buy call on Lindsay Australia. ([email protected]; @dwinningWSJ)

Jefferies cuts its estimates for packaging company Amcor for the second time in a month, citing a 20% on-year rise in resin prices. "We expect costs to impact 4Q26 given typical lags," analyst Ramoun Lazar says. Its EPS forecast for the June quarter falls by 2%. That means its FY26 adjusted EPS view is now US$3.94/share, below Amcor's guidance of US$4.00-US$4.15/share. "We also cut FY27 estimates by 4% to reflect a more cautious outlook for consumer trends and overhang from higher input costs," Jefferies says. "Stock is already pricing both cost and top-line risks, and is -20% versus S&P 500 since the Mid-East conflict." It retains a buy call on Amcor while lowering its price target by 4.6% to A$71.83/share. Amcor ended Thursday at A$55.84. ([email protected]; @dwinningWSJ)

Wealth-management platform provider Netwealth's 3Q update reinforces Jefferies's bullish view of the stock. Netwealth said its funds under administration reached A$125.8 billion in the quarter. Net inflows of A$4.0 billion more than offset some A$3.7 billion in market declines. "The all important managed account subset was also a standout, increasing 30% to A$27.9 billion," says analyst Simon Fitzgerald. Jefferies adds that Netwealth's reaffirmed FY26 guidance was positive because it damped any fears of market volatility driving a revision of key targets. Jefferies raises its price target on Netwealth by 8% to A$30.25/share and retains a buy call. Netwealth ended Thursday at A$25.22. ([email protected]; @dwinningWSJ)

2255 GMT -- Viva Energy's Geelong refinery should continue to deliver earnings well above historical averages, despite this week's fire at the facility resulting in significant opportunity cost, says Jefferies. That's because refining cracks are very high, particularly for middle distillates, which will be less affected by the fire, analyst Michael Simotas says. "The risk of supply shortfall has increased, but gasoline supply is much less tight, and other importers (including Ampol) should be able to help, minimizing impact on Convenience Retail," Jefferies says. It has a hold call on Viva Energy and cuts its price target by 2.3% to A$2.15/share. Viva Energy has been on a trading halt since the fire broke out. It ended Wednesday at A$2.53. ([email protected]; @dwinningWSJ)

(END) Dow Jones Newswires