0320 GMT - Sims bull Macquarie thinks there could be even more gains ahead for the metal recycler's stock. The earnings power of Sims's SLS electronics arm is likely to be sustained for a few years at least, says the bank. The outlook for the ferrous and nonferrous metals markets is also solid, with prices improving broadly, it says. Macquarie keeps its outperform rating on Sims and raises its target to A$31.90 a share from A$22.80. The stock is up 0.3% versus Tuesday's close, at A$28.20 a share. It is 57% higher year to date. ([email protected]; @RhiannonHoyle)

0222 GMT - Australia's Viva Energy could be on course to deliver its best half-year refining result in four years, Macquarie analysts say. They expect Viva to update the market when its Geelong refinery is repaired and fully online, most likely in the next week or two. Pointing to the stronger-than-expected 2Q performance at Ampol implied by that company's recent disclosure, the Macquarie analysts forecast a 1H Geelong refining margin of US$23 per barrel. They raise their 2026 EPS forecast by 6.3% on the higher refining margins, partially offset by softness in convenience and mobility sales. Macquarie keeps an outperform rating on the stock and raises its target price 3.0% to A$3.40. Shares are up 0.4% at A$2.29. ([email protected])

0158 GMT - Commonwealth Bank's stretched multiples leave it more exposed to a slowing housing market than its Australian banking peers, Citi analyst Thomas Strong says. He tells clients in a note that changes to the tax system add to what is already an unfavorable stagflation outlook for major lenders, which are contending with elevated interest rates, slowing growth and rising credit risk. With bank shares having already pulled back, Strong makes no changes to his ratings of the big four banks but cuts his target prices by between 1.7% and 3.8%. Commonwealth, which is the country's largest bank, has a sell rating and is Strong's least-favored pick. Citi cuts its target price on CBA by 3.6% to A$135.00. Shares are up 0.1% at A$160.70. ([email protected])

0143 GMT - Real-estate investment firm Qualitas gets a new bull at Citi, where analyst Nilesh Bhaiya sees an attractive opportunity to gain exposure to Australia's growing private-credit market. Bhaiya tells clients in a note that Qualitas leveraged the pullback by banks from commercial real-estate lending in the decade following the 2008 financial crisis to build a position supported by institutional capital, deep borrower relationships, and execution capability in large transactions. He cites high earnings visibility, average annual 30% growth in fee-earning funds under management, and supportive policy as attractions. The stock is trading about 30% below its historical multiples, he adds. Citi initiates coverage with a buy rating and a target price of 4.00 Australian dollars on the stock, which is up 3.5% at A$2.63. ([email protected])

0119 GMT - REA Group loses more bulls on worries about a likely slowdown in Australia's property market. UBS analysts Lucy Huang and Ailsa Lei are the latest to downgrade a buy rating on the News Corp-controlled property advertiser to neutral on expectation of a cumulative 10% listings volume decline across the next two fiscal years. However, a near-term volume boost may come from investors seeking to offload assets before tax concessions change on July 1, 2027, they say. The tax changes could benefit REA over the longer term if they drive a skew toward owner-occupiers, who tend to transact more frequently, they say. UBS cuts its target price by 23% to 165.00 Australian dollars. Shares are down 2.6% at A$148.67. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. ([email protected])

(END) Dow Jones Newswires