0202 GMT - REA Group's bull at Morgans continues to look past any near-term volatility facing the News Corp-controlled real-estate advertiser, flagging its tight cost control and pricing power. Keeping a buy rating on the stock, analyst Steven Sassine acknowledges the potential headwind from a decline in listings volumes amid higher interest rates and cost-of-living pressures. He nonetheless sees REA as one of the highest quality companies covered by Morgans, highlighting that it lowered its full-year operating-cost guidance despite falling volumes. Morgans lowers its target price 0.5% to A$219.00. Shares are down 3.8% at A$170.79. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. ([email protected])

0158 GMT - Australian gold miners appear undervalued at spot gold prices, according to Macquarie. "A spot price scenario could imply circa 20% multiple valuation upside," all else being equal, the bank says in a note to clients. Macquarie reckons miners could earn roughly 65% Ebitda margins if spot gold prices remain steady. Newmont is its preferred gold major, and Capricorn Metals its preferred mid-cap stock. The precious metal has traded mostly between $4,500-$4,900 an ounce since a March selloff, says the bank. Spot gold recently traded at about $4,730 an ounce. Macquarie's own long-term gold forecast is roughly one-third lower than the spot price, it says. ([email protected]; @RhiannonHoyle)

0151 GMT - Zip's bull at Macquarie sees the pace at which it collects receivables further increasing as the installment-payment provider scales its so-called pay-in-2 product. A note from one of the investment bank's analysts tells clients that the Australian company already collects more than 90% of its gross receivables within six weeks. The note points out that this quick cycling helps support asset quality, with Zip able to adjust settings based on repayment history. Pay-in-2 accounts for less than 5% of Zip's transactions by value, they add. Macquarie keeps an outperform rating and A$3.40 target price on the stock, which is down 5.2% at A$2.465. ([email protected])

0123 GMT - Metcash appears undervalued to Jarden analysts, even after the share price received a fillip following the supermarket supplier's annual profit guidance. Maintaining an overweight rating on the stock, the investment bank's analysts say that Metcash has proven over three years that it can grow market share and expand further down the value chain through retail offerings. They raise their EBIT forecast for fiscal 2026 by 1% to reflect a better-than-expected second-half run-rate, and trim it for the next two years by 2.6% and 2.0%, respectively, on a weaker performance from the Australian company's hardware business. Jarden raises its target price on the stock by 2.6% to A$3.90. Shares are up 2.2% at A$2.985. ([email protected])

0043 GMT - Morgans reckons Dyno Nobel has done a good job on the transformation program to refocus on explosives, even if it did get "a poor price" for its fertilizer business. "As a pure-play global explosives business, DNL will become a much simpler story," the broker says. The company is making the most of industry tailwinds and could have upgraded its FY26 guidance had it not been for a stronger AUD, cost headwinds from the Middle East conflict and some "stranded costs" following the sale of Phosphate Hill, says Morgans. The broker views the stock as fairly valued. A buyback should continue to support the share price, it says. Morgans keeps a hold rating but raises its target to A$3.46 from A$3.33. Shares are down 0.6% at A$3.52, after gaining 6.6% Monday. ([email protected]; @RhiannonHoyle)

0041 GMT - Dyno Nobel could deliver more positive earnings surprises over the next year or two as the explosives maker capitalizes on strong demand and tight supply, Jefferies says in a note. The bank raises its price target on the stock by 5.4% to A$4.11, citing earnings-per-share upgrades and higher market multiples. It describes the company's 20% 1H Ebit beat in explosives versus consensus as impressive. The beat was because of broad strength across the core Asia Pacific and Americas businesses, it says. "From here, the focus is on FY28 Ebit target" of roughly A$600 million, and beyond, Jefferies says. It reiterates a buy rating on the stock. Shares are down 1.1% at A$3.50, giving up some of Monday's 6.6% jump. ([email protected]; @RhiannonHoyle)

2306 GMT - CSL's downgrade to FY26 earnings revenue and profit guidance was worse than RBC Capital Markets anticipated. CSL now projects FY26 revenue of around US$15.2 billion and an underlying net profit of US$3.1 billion when currency swings are stripped out. "Whilst RBC and consensus numbers implied another downgrade, the revised FY26 guidance downgrade of 5%/9% (mid-point) to revenue/net profit was more severe than expected, as pressures within immunoglobulin and the dynamics within albumin in China persist," analyst Craig Wong-Pan says. RBC cuts its revenue and margin assumptions for CSL's Behring and Vifor businesses. This drives a 36% reduction in its price target, to A$113.00 a share. CSL ended Monday at A$100.75. ([email protected]; @dwinningWSJ)

2302 GMT -- Life360's first-quarter result looks mostly positive to its bull at RBC Capital Markets. Analyst Wei-Weng Chen says that things look better than February's management commentary had suggested, flagging the dual-listed tracking-app developer's upgraded full-year revenue and earnings guidance. Chen tells clients in a note that growth in paid subscriptions was almost double that expected by consensus forecasts, and points out that softer overall user growth came amid a technical issue with Google's Play Store. RBC has a last-published outperform rating and A$36.00 target price on Life360's Australia-listed stock, which is at A$20.11 ahead of the open. ([email protected])

2354 GMT -- Centuria Capital appears to be taking a large counter-cyclical view of Sydney's office market, says Jefferies. Centuria Capital is acquiring World Square for A$450 million. Analyst Andrew Dodds says the asset is 21 years old, 88% occupied and in a sub-optimal part of Sydney's business district. "It also represents a doubling-down on secondary office at a time when Centuria Capital's listed satellite, Centuria Office REIT, trades near all-time lows and at a 45% discount to net tangible assets," Jefferies says. It notes investors are skeptical about the deal. Centuria Capital's price-to-earnings multiple has shrunk aggressively. "Despite this, we estimate the acquisition and capital raising (assuming 15% co-invest) would result in 4% accretion to our FY27 operating EPS, and is not currently reflected in consensus forecasts," Jefferies says. ([email protected]; @dwinningWSJ)

2245 GMT -- Metcash gets a new bull in Jefferies after signaling an annual net profit broadly in line with consensus hopes. Analyst Michael Simotas notes the recent share-price weakness suggested investors had anticipated a guidance downgrade. Metcash said it expects an underlying net profit of A$268 million-A$270 million. For Jefferies, a rebound in profit margins within Metcash's liquor business is the highlight. It is also reassured by the Middle East conflict having little impact on Metcash's hardware business. "Macro backdrop likely delays the hardware recovery, but weakness is already in the base, limiting downside, and management has proven disciplined on cost and cash flow," Jefferies says, upgrading the stock to buy, from hold. Its price target rises 1.4% to A$3.50/share. Metcash ended Monday at A$2.92. ([email protected]; @dwinningWSJ)

1837 ET - CSL's downgrade to FY 2026 earnings revenue and profit guidance didn't surprise Jefferies much. That's because issues affecting immunoglobulin in the U.S. and albumin in China were already known. "We continue to believe both markets are underpenetrated, so the industry should grow over the medium term," says analyst David Stanton. The focus now is whether CSL can signal to investors what its net profit is likely to be in FY 2027 and FY 2028. "Given medium-term market growth and CSL's cost-out program progression, we are at mid-single-digit constant currency net profit growth for FY 2027 and FY 2028," Jefferies says. It retains a buy call, while lowering its price target by 8% to A$195.00 a share. CSL ended Monday at A$100.75. ([email protected]; @dwinningWSJ)

2221 GMT -- Life360's bull at Jefferies likes the look of the tracking-app developer's first-quarter result, despite its cut to user-growth guidance. Analyst Roger Samuel tells clients in a note that 1Q growth in monthly active users was softer due to an issue with the Google Play Store. Despite this, Life360 has raised its outlook for full-year revenue and Ebitda. Samuel observes that 1Q Ebitda was 16% higher than consensus, on an underlying basis. "A good result," is Samuel's summary. Jefferies has a last-published buy rating and A$31.00 target price on Life360's Australia-listed stock. Shares are at A$20.11 ahead of the open. ([email protected])

1744 ET - Hims & Hers Health's domestic sales slid 8% in the latest quarter, though the decrease was offset by a more than ten-fold increase in international sales. Still, the company says its domestic business is accelerating exiting the first quarter. The telehealth platform has been working to bring its offerings to other countries lately, including an entrance to Canada in the fall. It also has operations in Europe, and said earlier this year it would acquire Australia-based telehealth provider Eucalyptus in a move it expects to help it expand into Australia and Japan, and grow its presence in the U.K., Germany and Canada. ([email protected])

(END) Dow Jones Newswires