0059 GMT - Goodman is in the box seat to benefit from rising global demand for data centers, says Morgan Stanley, which lifts its price target on the stock by 8.5% to A$34.00/share. Goodman already has 3.6GW of secured or close-to-secured power capacity, analyst Simon Chan says in a note. Also, its land bank predominantly comprises industrial sites, leaving it well placed to add value. "Whilst the end value of Goodman's power bank may be A$50 billion-A$60 billion, funding is manageable," MS says. It estimates Goodman's funding commitment for data centers at around A$700 million-A$800 million/year. That partly assumes it takes 10 years to build them, and the use of development profits. Goodman is down 0.5% at A$30.80. (david.winning@wsj.com; @dwinningWSJ)

0051 GMT - Helloworld's strong start to FY 2024, alongside new Australian Bureau of Statistics travel data, are tracking well versus Shaw and Partners' FY 2024 forecasts, says Philip Pepe, an analyst at the wealth-management firm. The ABS Overseas Arrivals and Departures data for January bodes well for Helloworld, says Shaw and Partners, which prompts it to reiterate its buy rating on the stock with a A$3.80 target price. The ABS data shows that total arrivals for January were 2,122,070, an annual Shaw and Partners which makes no changes to its earnings forecasts. Helloworld rises 0.3% to A$2.91. (alice.uribe@wsj.com)

2300 GMT - After Australia-based slots and gaming company Artistocrat held a virtual roundtable, Morgans says the company's land-based gaming in the Americas continues to perform strongly. But growth in the overall digital-gaming market is still moderating post-pandemic, with operating performance at Aristocrat's Pixel United mobile-gaming unit remaining subdued. Land-based gaming in the Americas has been the primary driver of Aristocrat's earnings since Covid, Morgans says, and the company reports that the launch of NFL-themed machines has helped attract younger players and underpinned success in the segment. Overall, Aristocrat reiterated its expectation for positive NPATA growth in FY 2024, weighted to the second half, according to Morgans--which now has a hold rating on Aristocrat given strong share price performance recently. (mike.cherney@wsj.com; @Mike_Cherney)

2254 GMT - Australian asset managers are likely to continue to cede market share to passive options, says Morningstar analyst Shaun Ler in Morningstar's Industry Pulse report on listed asset managers for 1Q 2024. Ler notes that share prices of the ASX-listed asset managers fell for most of 2023, but broadly rebounded late in the year as the market anticipated lower interest rates and better fund flows. "A stabilization in interest rates could boost investor risk appetite, enhancing fund flows and asset prices. However, this prospective recovery is cyclical, and structural challenges remain," Ler says. He adds that with an average price/fair value ratio of 0.78, Insignia and Perpetual offer the greatest relative value. "We think the market underestimates flows and the potential value from cost cuts for both these firms," Ler says. (alice.uribe@wsj.com)

1835 GMT - While early signs of a housing recovery in New Zealand are encouraging, the market may wait for continuation of this trend to get confident on improvement in the country's retirement village sector, Macquarie analysts say in a note. Summerset Group's recent result showed a strong 2023 for its business, while demand and housing conditions continue to improve, Macquarie says, while Ryman Healthcare's February's trading update overall was soft, resales volumes were good and debt came in better, the investment bank adds. "For most of the sector, Feb/Mar is a key sales and settlement period coming into financial year end, and improved housing market conditions could aid this," Macquarie says. It reckons the NZ retirement village sector remains attractive. (alice.uribe@wsj.com)

2225 ET - While Aussie Broadband's loss of a major contract with Origin Energy is disappointing, there is a silver lining. In a note, Wilsons analyst Ross Barrows highlights that Aussie Broadband's 19.9% stake in Superloop increased some 25%, or A$24 million, in value on news that Superloop will take over the supply of wholesale internet services to Origin. Still, Wilsons says Aussie Broadband's proposed acquisition of Superloop now looks difficult, based on yesterday's share-price movements. "On the proposed bid, using the current ratio of 0.21 Aussie Broadband shares per Superloop share, implies a bid price of A$0.75/share for Superloop," Wilsons says. That's well below Superloop's closing price of A$1.31 on Thursday. (david.winning@wsj.com; @dwinningWSJ)

2218 GMT - ANZ's earnings are likely to fall in FY 2024, but there is the potential that further declines in FY 2025 may be stemmed, says Morgans analyst Nathan Lead. In a note updating forecasts for 1Q FY 2024, the potential Suncorp bank acquisition and the announced sale of a 16.5% stake in Malaysia's AmBank, Morgans sees earnings declines in FY 2024. But, the assumed full year inclusion of Suncorp's bank should help alleviate further drops in FY 2025. At the same time, Morgans says it now believes there is a high probability that ANZ's acquisition of Suncorp Bank will progress, and keeps its hold call. Morgans raises its target price 9.1% to A$26.83. ANZ was last down 3.8% to A$28.68. (alice.uribe@wsj.com)

2210 GMT - Forsyth Barr is excited by Port of Tauranga's ability to raise prices over the medium term, and upgrades the stock to neutral, from underperform. The bank notes a key competitor, Port of Auckland, has aggressively raised land-side port terminal access charges, following a similar approach to Australian stevedoring companies. "Investor optimism around imminent pricing from Port of Tauranga may be misplaced but the medium-term opportunity is very real," analyst Andy Bowley says in a note. (david.winning@wsj.com; @dwinningWSJ)

2158 ET - The temporary suspension of mining at Gold Road's Gruyere operation due to rain is disappointing, but investors shouldn't interpret the setback as a structural issue, Jefferies says. "Ultimately we see these as short-term headwinds and the market reaction appears overdone," analyst Mitch Ryan says in a note. Jefferies retains a buy call on Gold Road, highlighting that the miner's business outlook and guidance remain unchanged beyond 2025. Jefferies expects Gold Road to produce 313,000 oz of gold this year, at an all-in cost of A$2,153/oz. (david.winning@wsj.com; @dwinningWSJ)

2154 GMT - Pilbara Minerals' sale of a 5,000-ton cargo of spodumene should lift sentiment across the lithium-mining sector. In a note, Jefferies analyst Mitch Ryan says a price of US$1,200/ton for the cargo is 7% above the current spot price of US$1,120/ton. The last time Pilbara Minerals initiated spot auctions in mid-2021 was the beginning of the previous lithium price rally, he adds. "While this is unlikely to be a similar dynamic, it does demonstrate increased buyer sentiment in the near term and strong demand for spodumene concentrate despite a consensus view that 2024 will be an oversupplied market," Jefferies says.(david.winning@wsj.com; @dwinningWSJ)

2150 GMT - Ord Minnett raises Aussie Broadband to buy, from accumulate, despite the telecoms company's shock loss of a major contract with Origin Energy. The 130,000 broadband customers serviced under the white-label agreement are set to move to Superloop under a six-year agreement. "The extent of scrip issued to Origin under the Superloop agreement, combined with potential reshaping of the Aussie Broadband agreement, implies that the terms of the contract would have been negatively impacted even if Aussie Broadband had retained it," analyst Ian Munro says in a note. Ord Minnett cuts its FY 2025 and FY 2026 Ebitda forecasts by 11% and 14%, respectively. Its price target falls 15% to A$4.16/share. Aussie Broadband ended Thursday at A$3.55. (david.winning@wsj.com; @dwinningWSJ)

2138 GMT - The loss of Aussie Broadband's contract with Origin Energy raises questions about the timing and intent of the telecoms company's bid for Superloop, Jefferies says. "The nonbinding indicative offer will now either lapse or require a radical re-casting of the bid ratio," says analyst John Campbell in a note. Superloop is picking up the Origin contract, which had represented 80% of Aussie Broadband's wholesale subscriptions and 10% of group Ebitda. Campbell says the contract loss also throws into doubt the long-term value of Aussie Broadband's wholesale business, which had been its fastest growing segment. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires