0437 GMT - Alcidion keeps its buy rating from Bell Potter, with analyst Thomas Wakim noting that the timing issues behind the medical tech provider's fiscal 2023 earnings downgrade are only temporary. Wakim says in a note that slower-than-anticipated contract procurement by the U.K.'s National Health Service has delayed revenue, but that this is a short-term issue and contracts could be awarded within 12 months. U.K. revenues are expected to overtake those from Australia and New Zealand as early as fiscal 2024, he adds. Bell Potter cuts target price 40% to A$0.12. The stock is down 1.0% at A$0.096. (stuart.condie@wsj.com; @StuartLCondie)

0104 GMT - With inflation still a challenge globally, banks have work to do with more rate increases in Australia likely this year, ANZ CEO Shayne Elliott tells an Australian parliamentary committee. "Our view is that there'll have to be more rate rises in Australia… later this year. At least two more, so another 50 basis points, but honestly from here on who knows," he says. Asked where the cash rate might settle in the next five years, Elliott says there are too many global issues to make a prediction that far out, but adds that looking over the long term, "if we had to have a stab in the dark, something at that 3-4% range, I don't think you'd be wildly wrong."(alice.uribe@wsj.com)

0051 GMT - Megaport's improved guidance likely reflects factors including lower-than-anticipated customer churn following price increases, UBS analyst Tim Plumbe writes in a note. He tells clients that the Australian communications-tech provider's cost control is another likely driver in its improved fiscal 2023 guidance. Short interest in the stock is likely to decline following Megaport's announcement that it achieved positive free cash flow in 4Q, he adds. UBS raises the stock's target price 9.6% to A$12.50 and maintains a buy rating. Shares are up 4.1% at A$9.36. (stuart.condie@wsj.com; @StuartLCondie)

0044 GMT - Megaport's achievement in generating positive free cashflow in 4Q is a bigger deal than the Australian communications-tech provider's improved guidance, Morgans analyst Nick Harris says. He tells clients in a note that it is a huge milestone for Megaport, reclassifying it from a concept stock to a self-funding, cash-generative business. He expects positive free cashflow through fiscal 2024 but sees Megaport investing in sales and marketing to stimulate revenue growth late in the period. Morgans maintains an add rating on the stock and raises target price 11% to A$10.00. The stock is 4.6% higher at A$9.40. (stuart.condie@wsj.com; @StuartLCondie)

0004 GMT - Most ANZ customers are managing current financial pressures, including higher interest rates, but there has been a modest increase in customers reaching out for help, ANZ CEO Shayne Elliott tells an Australian parliamentary committee. ANZ is seeing customer resilience in the aggregate, but "underneath the figures are Australians who are concerned about their household budgets," Elliott says. Still, recent ANZ figures show only six out of every A$1,000 in our Australian home loans portfolio was overdue by more than 90 days. "This is better than before the pandemic," he adds. (alice.uribe@wsj.com)

Jumbo Interactive's FY 2024 earnings could grow by almost 30% as the Australian lottery seller benefits from normalized jackpot activity and price rises, Macquarie analysts say. They tell clients in a note that their FY 2024 volume forecasts are unchanged by recent data from Macquarie's proprietary lotteries prize pool tracker. Yet they raise their revenue growth forecast to 8% from 6%, with Ebitda rising 29% to A$74 million. Macquarie raises target price 1.45% to A$17.45 and maintains an outperform rating on the stock, which closed trading Tuesday at A$13.87. (stuart.condie@wsj.com; @StuartLCondie)

2325 GMT -- Australian Treasurer Jim Chalmers has indicated that a decision on the future of the RBA Governor Philip Lowe may not be made this week. In a radio interview, he only indicated that he would be taking the matter to a cabinet meeting "soon" and that there will be a cabinet discussion about it "before long." Lowe is not expected to have his seven-year terms extended beyond its expiry in September, with participants in the money markets anxious to know who will lead the central bank through the inflation challenges ahead. (james.glynn@wsj.com)

2303 GMT -- NZ retirement village operator Summerset Group is the top pick of the sector, given its growth outlook, with sentiment for the sector continuing to improve due to offering attractive value, say Macquarie analysts in a note. The investment bank notes that Summerset saw total sales of 273 for 2Q FY23, compared to the same period last year, and 210 in 1Q FY23. "Demand for RV units remains strong while signs of an improving housing market allowing for settlements is encouraging," says Macquarie. It has an outperform call on the stock, due to its potential for a strong 2H FY 2023, but cuts its target price 3.8% to NZ$13.85/share on lower near-term build rate but also adjustments to Macxquarie's long-term maintenance assumptions after a recent deep dive. (alice.uribe@wsj.com)

2305 GMT -- Capitol Health loses its overweight rating from analysts at Wilsons amid worries that the diagnostic imaging company could lower its margin aspirations. The analysts cut their recommendation to market-weight and say there is a chance that Capitol's lower 2H profitability could prompt it to backpedal from its aspirational 23-24% underlying Ebitda target. The Wilsons team say in a note that they have lowered their long-term target to 21.5% from 23%. Labor and occupancy costs have escalated, they add. Wilsons cuts target price 23% to A$0.27. Shares last traded at A$0.255. (stuart.condie@wsj.com)

2301 GMT -- Megaport has made good efforts to reduce costs but Macquarie analysts worry about the potential impact of slower hiring on revenue growth. The analysts believe the Australian tech company has made only limited progress toward hiring the 30 direct sales staff it previously suggested hiring. They point out in a note to clients that the key uncertainty as Megaport revises its FY 2024 guidance to the upside is the extent of investment it needs to grow distribution. Macquarie raises target price 50% to A$9.00 but stays neutral on the stock. Shares last traded at A$8.99. (stuart.condie@wsj.com)

(END) Dow Jones Newswires