0246 GMT - Bravura Solutions faces what Goldman Sachs analysts call substantial execution risk on its plans to reshape the Australian tech company as a more product-centric and commercial entity. In their last note before ceasing coverage of the company, the GS analysts acknowledge that Bravura needed to take radical action after years of under-investment and poor capital allocation. They still expect difficulties ahead, not least due to the company's negative cash flow and potential funding concerns if the turnaround strategy doesn't succeed as planned. GS has a final neutral rating and A$0.40 target price on the stock, which is down 2.9% at A$0.33. (stuart.condie@wsj.com; @StuartLCondie)

0222 GMT - Nine Entertainment's growing share of both Australian TV audience and revenue is coming at the expense of the Paramount-owned Ten Network rather than Seven West Media, Morgan Stanley analysts say in a note. They say discussions with industry players indicate that Ten is losing relevance with some advertisers. Some of those advertisers are already concentrating their spending across Nine and Seven, at the expense of the third-largest broadcaster, they tell clients in a note. Other alternatives to Ten include social media and other digital advertising, they add. MS has an overweight rating on Nine shares. It trims its target price by 14% to A$2.75 on the expectation of faster contraction in TV advertising markets. Shares are flat at A$1.89. (stuart.condie@wsj.com; @StuartLCondie)

0202 GMT - SVB's collapse is not a harbinger of a U.S. recession and the Fed should keep raising interest rates. The signal coming from the bond market that it is something that points to systemic problems is overstated, says Stephen Miller, GSFM investment strategist. While the fallout of SVB's demise is something to be watched closely, it mainly reflected the idiosyncratic nature of the bank's depositor base and is a long way from a Lehman moment, he says. Markets are now pricing a peak Fed funds rate close to 5% around May, but then some 70 basis points of policy rate reductions into the end of the year. That looks like too much of a correction versus the Fed's original trajectory, he adds. (james.glynn@wsj.com; @JamesGlynnWSJ)

2316 GMT - For Liontown Resources, finishing the Kathleen Valley lithium project on schedule should be a key catalyst for shares in the miner, which Tuesday reported wider 1H losses than expected, Macquarie analysts say in a note. "LTR's share price and underlying lithium spot prices decoupled in 2022, which we believe reflects investors' focus on project progress against the current backdrop of construction delays in the lithium industry," say the analysts, who reckon an "on-time delivery of Kathleen Valley will de-risk the project and provide valuation support." Liontown bounces early in Sydney. It's up 6.0%, at A$1.505/share, following a 5.7% drop the prior session. (rhiannon.hoyle@wsj.com)

2305 GMT - Carsales.com's strong track record of creating value bodes well for the prospects of its majority owned Brazil business, Morgan Stanley analysts say. They tell clients in a note that Webmotors has become Brazil's clear No.1 platform since the Australian vehicle advertiser took an initial 30% stake. They see the Brazilian market as underpenetrated, while there could also be scope to raise prices as this changes. Carsales is paying fair value to increase its stake in Webmotors to 70%, while the locking in of local partner Banco Santander as the minority owner is critical, they add. MS maintains an overweight rating on the stock and lifts target price 1.9% to A$27.00. Shares last traded at A$22.08. (stuart.condie@wsj.com)

2227 GMT - Life360 looks materially undervalued ahead of the family safety app provider's 4Q trading update, Goldman Sachs analysts say. They reckon the stock has underperformed its ASX-listed tech peers despite high-frequency data points suggesting solid user growth and retention. Price rises have helped momentum, they add. They tell clients in a note that, with many key metrics already pre-reported, the market will likely focus on operating trends at the start of the new fiscal year and the annual outlook. Detail on bundled product memberships and cashflow will also be sought, they add. GS reiterates its buy rating on the stock and maintains a A$7.90 target price. Shares last traded at A$4.86. (stuart.condie@wsj.com; @StuartLCondie)

(END) Dow Jones Newswires