0158 GMT - For Jarden, a key question arising from Woodside Energy's proposed $900 million acquisition of Tellurian is why the Australian company has no interest in also buying an upstream U.S. gas business to mitigate risk around future swings in Henry Hub prices. Analyst Nik Burns highlights Woodside's response that it has no experience in onshore oil and gas developments or U.S. shale. But there are other factors to consider. The market is still getting comfortable with the Tellurian deal, Jarden says, while Woodside has time to rethink an upstream U.S. gas deal as Tellurian's Driftwood LNG project won't start up until 2029. Also, "acquiring an equity in U.S. shale would increase the company's emissions profile, making it more challenging for Woodside to reduce its scope 1 and 2 emissions," Jarden says. (david.winning@wsj.com; @dwinningWSJ)

0142 GMT - Newmont's sale of its Telfer mine and Havieron project stake to Greatland Gold for up to $475 million doesn't offer many clues on its other potential asset sales given the buyer had last right of refusal at Havieron, says Jefferies analyst Matthew Murphy. Newmont also had previously disclosed tailings challenges at Telfer, he says. Still, "we see NEM starting to action its non-core asset sales as a modest incremental positive," says Murphy in a note. Other processes to sell assets in Canada and Ghana are ongoing and the last update from the gold giant suggested it had attracted considerable interest, he says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0119 GMT - Industrial property owner Goodman has underperformed Australian Reits by around 10% over the past three months, creating an opportunity for Jarden to upgrade its stock to buy from neutral. For analyst Lou Pirenc, this underperformance happened despite growing visibility of both the duration and magnitude of Goodman's earnings, driven by its A$85 billion pipeline of data center developments. "We upgrade our short- to medium-term earnings forecasts to reflect this and believe our upgraded A$40.00 target price potentially still may not fully reflect the data-center opportunity over the next 5-10 years," Jarden says. Jarden previously had a A$37.60/share price target on Goodman, which is up 1.9% at A$33.98. (david.winning@wsj.com; @dwinningWSJ)

0102 GMT - Could Hub24's flows cross A$16 billion? That's the question posed by Citi following the Australian wealth management platform company's recent update. Analyst Siraj Ahmed upgrades his forecast for Hub24's net flows in FY 2025 by 9% to A$15.9 billion. Moreover, flows could hit A$16.5 billion "if we assume typical seasonality", with the June quarter typically the strongest for inflows, Citi says. The bank also upgrades its FY 2026 funds under administration forecast by 2% to A$122 billion, putting it toward the top end of Hub24's guidance range of A$115 billion-A$123 billion. (david.winning@wsj.com; @dwinningWSJ)

0051 GMT - Car parts retailer ARB's prospects have moved up a gear due to its expansion in the U.S., signals Morgan Stanley. The bank upgrades ARB to overweight, from equal-weight, as it recognizes "the fruits of ARB's strategic investments (in Australia but particularly in the U.S.) will become more obvious in earnings into FY 2025-2026." Illustrating its ambitions, ARB in recent days said its U.S. associate ORW has agreed to buy 4x4 accessory retailer 4 Wheel Parts. MS views that deal positively. "We do appreciate ARB is not necessarily cheap at circa 28x FY 2026 P/E for 8% FY 2024-2027 EPS growth," analyst Chenny Wang says. Still, this is where has traded on average for the past five years, MS says. (david.winning@wsj.com; @dwinningWSJ)

0038 GMT - Forsyth Barr cuts its earnings forecasts for Napier Port over the next two years due to the permanent closure of one of its largest customers. Winstone Pulp International's decision to cease operations comes a month after it announced the temporary shutdown of its timber mills. Napier Port suggests WPI contributes around NZ$4 million of Ebitda, largely reflecting pulp and timber exports that are containerized at its Port Pack facility. "The volume hit from WPI is not immediately replaceable, albeit Napier Port may be able to partially offset the lost income from exporting logs that would have otherwise been processed by WPI," analyst Andy Bowley says. Forsyth Barr lowers its estimates for FY 2025 and FY 2026 Ebitda by 6% in both years. (david.winning@wsj.com; @dwinningWSJ)

2309 GMT - Macquarie analysts are feeling positive about garadacimab, a new treatment for hereditary angioedema that's under development by Australian biopharma company CSL. Macquarie says garadacimab has demonstrated favorable results compared to other products for the rare genetic disorder, which involves swelling in the hands, feet, face and throat. Macquarie's forecasts assume garadacimab is approved in late calendar year 2024, with initial revenue contributions from the second half of fiscal 2025. The investment bank calls CSL's current share price "an attractive entry point" and says garadacimab would supplement a favorable medium- to long-term growth outlook for the company. (mike.cherney@wsj.com; @Mike_Cherney)

1901 ET - NextDC's expansion of its model for data centers built specifically to customers' needs should help increase access to capital, Macquarie analysts write in a note. They tell clients that the longer contract durations expected at built-to-specification data centers should allow the Australian operator to secure a higher loan-to-value ratio at the asset level, borrowing against the contracts. Key customers have highlighted that supply is their key growth constraint, the analysts observe. Demand is there and NextDC must execute, they say. Macquarie keeps an outperform recommendation and A$21.20 target price on the stock, which is at A$17.84 ahead of the open. (stuart.condie@wsj.com)

1850 ET - Engineering contractor Duratec's drive to sign up more energy companies as customers is likely to have a positive impact on profit margins, reckons Shaw & Partners. Duratec unveiled a A$21.8 million contract to refurbish the King Bay Supply Base Wharf in the port of Dampier for Woodside Energy. It expects to complete the work by the end of next year. "Diversification of revenue into Energy is likely to lift group gross margins with Energy yielding a gross margin of 30% in FY 2024, above the 17% group average," says analyst Abraham Akra. Shaw retains a buy call on Duratec, while upgrading its Ebitda forecasts across FY 2025-2027 by 1%. (david.winning@wsj.com; @dwinningWSJ)

1846 ET - NextDC's acquisition of another site in Sydney for a wholesale hyperscale facility speaks to the Australian data-center operator's confidence in the pipeline of demand, Citi analyst Siraj Ahmed says. The ASX-listed company's latest A$550 million capital raise surprised Ahmed given it already had A$2.7 billion of liquidity already available for land acquisitions, but he explains that the timing is opportunistic. NextDC shares rose almost 10% at the end of last week after Blackstone agreed to pay A$24 billion for local rival AirTrunk. Ahmed tells clients in a note that it is now key for NextDC to win and deliver on large wholesale deals. Citi has a buy rating and A$19.25 target price on the stock, which is at A$17.84 ahead of the open (stuart.condie@wsj.com)

1844 ET - Australian data-center operator NextDC's A$550 million capital raise looks designed to take advantage of recent share-price gains, Jefferies analyst Roger Samuel writes in a note. Pointing out that NextDC raised A$1.32 billion as recently as April, Samuel sees the recent boost from Blackstone's A$24 billion acquisition of local rival AirTrunk, and NextDC's inclusion in real-estate industry body Nareit's latest quarterly review, as the reason for the timing of the raise. He thinks that real-estate investors could come on board with the latest raise, which will fund further expansion in Asia. Jefferies has a buy rating and A$20.03 target price on the stock, which is at A$17.84 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires