Broker Watch

ASX Broker Moves: Upgrades for ANZ, CSL, Lynas Rare Earths, Woodside Energy vs Downgrades for Computershare, Corporate Travel, Origin Energy

Tue 21 Jan 25, 1:13pm (AEDT)
asx boker moves
Source: Shutterstock, Market Index

Stocks in article

360
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anz
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cpu
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csl
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ctd
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cxl
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gdg
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gor
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hmc
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hmc
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lyc
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mdr
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mp1
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msb
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nab
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nhf
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org
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pxa
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vnt
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wds
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Key Points

  • Upgrades: Life360 (360), ANZ Group (ANZ), CSL (CSL), HMC Capital (HMC), Lynas Rare Earths (LYC), Megaport (MP1), National Australia Bank (NAB), Pexa Group (PXA), Ventia Services Group (VNT), Woodside Energy Group (WDS).
  • Downgrades: Computershare (CPU), Corporate Travel Management (CTD), Origin Energy (ORG).
  • Target price biggest increases: Mesoblast (MSB), HMC Capital (HMC), Gold Road Resources (GOR), Computershare (CPU), Generation Development Group (GDG).
  • Target price biggest cuts: Calix (CXL), NIB (NHF), Platinum Asset Management (PTM), Medadvisor (MDR), Paladin Energy (PDN), Megaport (MP1).

Welcome to today’s ASX Broker Moves – your most comprehensive source for recent changes in major broker ratings and price targets for the Australian stock market.

The tables below contain data on ratings upgrades, downgrades, and initiations, as well as the biggest price target changes among the broker research reports we’ve received in the last 24-hours.

You will find the full list of broker moves in tonight's edition of Evening Wrap.


Broker Views Snippets

  • Macquarie on ANZ Group (ASX: ANZ) & National Australia Bank (ASX: NAB) ⬆️: "We upgrade ANZ and NAB...recognising near-term upside to earnings for the sector and relative valuation appeal for these two banks" UPGRADE TO NEUTRAL.

  • Ord Minnett on CSL (ASX: CSL) ⬆️: "ResMed and CSL remain our top choices in the healthcare sector. We view them as attractively priced given our expectations of double-digit EPS growth across the forecast horizon." UPGRADE TO BUY.

  • Canaccord Genuity on Lynas Rare Earths (ASX: LYC) ⬆️: "LYC's fortunes are obviously pinned to rare earth pricing, which for now remains under pressure....our rating lifted on valuation upside. " UPGRADE TO BUY.

  • Citi on Computershare (ASX: CPU) ⬇️: "Consensus seems to be moving Computershare from Buy to Neutral and, for the moment we, somewhat reluctantly, join the chorus. The stock has rallied strongly and although we see sources of potential further upside, these are currently uncertain enough to prevent us from confidently predicting material further advance." DOWNGRADE TO NEUTRAL.

  • Macquarie on Deep Yellow (ASX: DYL) 🆕: "DYL stock currently implies a US$60/lb uranium price and can re-rate as it clears the path to 7Mlb/yr dual asset production, and/or as uranium contract price structures improve. Tumas progress is key (MRE first shipment late-2026, nameplate 2028), as is revised DFS for Mulga Rock (2025)" INITIATED AT OUTPERFORM.

  • Citi on Megaport (ASX: MP1) ⬇️: "A key concern on Megaport has been the lack of answers as to why net-revenue retention (NRR) has slowed. Recent price cuts do suggest that competition could be a factor...We lower our EBITDA forecasts by -15% to -44%...[but] with the stock trading on 20x FY26e EBITDA (Citi estimates) we reiterate our Buy" PRICE TARGET CUT TO $9.00 FROM $16.05.


Rating UPGRADED

Company

Broker

New Rating

Old Rating

Price Target

PT Upside%

Life360 (360)

UBS

Buy

Neutral

US$55

#VALUE!

ANZ Group (ANZ)

Macquarie

Neutral

Underperform

$28.00

-5.3%

CSL (CSL)

Ord Minnett

Buy

Accumulate

$318.00

15.8%

HMC Capital (HMC)

Bell Potter

Buy

Hold

$13.50

48.8%

Lynas Rare Earths (LYC)

Canaccord Genuity

Buy

Hold

$7.50

8.7%

Megaport (MP1)

Ord Minnett

Buy

Hold

$8.00

2.6%

National Australia Bank (NAB)

Macquarie

Neutral

Underperform

$36.00

-5.5%

Pexa Group (PXA)

Morgans

Add

Hold

$14.61

11.4%

Ventia Services Group (VNT)

CLSA

Outperform

Hold

$3.90

4.0%

Woodside Energy Group (WDS)

Jarden

Overweight

Neutral

$27.00

5.5%

Biggest broker price target changes since last update. Price Target Upside/Downside (“PT Upside%”) values in the last column are based on closing prices on most recent session's close.

Rating DOWNGRADED

Company

Broker

New Rating

Old Rating

Price Target

PT Upside%

Computershare (CPU)

Citi

Neutral

Buy

$35.00

2.4%

Computershare (CPU)

Jarden

Neutral

Overweight

$34.00

-0.6%

Computershare (CPU)

Morgans

Hold

Add

$34.43

0.7%

Corporate Travel Management (CTD)

Jefferies

Hold

Buy

$14.20

-0.6%

Origin Energy (ORG)

Jarden

Underweight

Neutral

$10.65

-4.9%

Biggest broker price target changes since last update. Price Target Upside/Downside (“PT Upside%”) values in the last column are based on closing prices on most recent session's close.

Rating INITIATED

Company

Broker

New Rating

Old Rating

Price Target

PT Upside%

Duratec (DUR)

Argonaut Securities

Buy

 

$1.75

10.8%

Deep Yellow (DYL)

Macquarie

Outperform

 

$2.00

53.3%

QPM Energy (QPM)

Ord Minnett

Buy

 

$0.12

90.5%

Smart Parking (SPZ)

E&P

Positive

 

$1.30

36.8%

Biggest broker price target changes since last update. Price Target Upside/Downside (“PT Upside%”) values in the last column are based on closing prices on most recent session's close.

Price Target BIGGEST CHANGE

Company

Broker

Rating

New PT

Old PT

PT Change%

PT Upside%

Mesoblast (MSB)

Bell Potter

Buy

$3.90

$1.40

178.6%

40.3%

HMC Capital (HMC)

Bell Potter

Buy

$13.50

$9.05

49.2%

48.8%

Gold Road Resources (GOR)

Argonaut Securities

Buy

$2.80

$2.40

16.7%

14.8%

Computershare (CPU)

Citi

Neutral

$35.00

$30.00

16.7%

2.4%

Generation Development Group (GDG)

Morgans

Hold

$4.01

$3.51

14.2%

-1.2%

QBE Insurance Group (QBE)

Citi

Buy

$22.00

$19.30

14.0%

11.4%

Insignia Financial (IFL)

Ord Minnett

Hold

$3.70

$3.25

13.8%

-16.5%

Kina Securities (KSL)

Morgans

Add

$1.45

$1.28

13.3%

31.2%

Gold Road Resources (GOR)

UBS

Buy

$2.60

$2.30

13.0%

6.6%

Beach Energy (BPT)

Morgan Stanley

Underweight

$1.46

$1.30

12.3%

-1.0%

Computershare (CPU)

Jarden

Neutral

$34.00

$30.50

11.5%

-0.6%

Suncorp Group (SUN)

Morgans

Add

$21.01

$18.92

11.0%

6.8%

National Australia Bank (NAB)

Macquarie

Neutral

$36.00

$32.50

10.8%

-5.5%

QBE Insurance Group (QBE)

Morgan Stanley

Overweight

$23.50

$21.25

10.6%

19.0%

Bendigo and Adelaide Bank (BEN)

Macquarie

Underperform

$10.50

$9.50

10.5%

-20.3%

Gold Road Resources (GOR)

Jefferies

Buy

$2.75

$2.50

10.0%

12.7%

Iress (IRE)

Jefferies

Hold

$10.15

$9.25

9.7%

5.3%

Commonwealth Bank of Australia (CBA)

Macquarie

Underperform

$105.00

$97.00

8.2%

-32.3%

Suncorp Group (SUN)

Morgan Stanley

Overweight

$22.10

$20.50

7.8%

12.3%

Origin Energy (ORG)

Jarden

Underweight

$10.65

$9.90

7.6%

-4.9%

Findi (FND)

Ord Minnett

Buy

$8.32

$7.76

7.2%

77.0%

Ampol (ALD)

Morgan Stanley

Equal-Weight

$32.00

$30.00

6.7%

8.3%

Insurance Australia Group (IAG)

Morgan Stanley

Equal-Weight

$8.00

$7.55

6.0%

-7.5%

ANZ Group (ANZ)

Macquarie

Neutral

$28.00

$26.50

5.7%

-5.3%

Westpac Banking Corporation (WBC)

Macquarie

Underperform

$28.00

$26.50

5.7%

-13.3%

Suncorp Group (SUN)

Citi

Neutral

$19.50

$18.55

5.1%

-0.9%

Wesfarmers (WES)

Ord Minnett

Lighten

$62.00

$59.00

5.1%

-13.6%

Mader Group (MAD)

Bell Potter

Hold

$6.80

$7.20

-5.6%

10.7%

Lynas Rare Earths (LYC)

Bell Potter

Hold

$7.20

$7.70

-6.5%

4.3%

GQG Partners (GQG)

Ord Minnett

Buy

$2.80

$3.00

-6.7%

42.5%

Patriot Battery Metals (PMT)

Bell Potter

Buy

$0.70

$0.75

-6.7%

79.5%

NIB (NHF)

Citi

Neutral

$6.00

$6.45

-7.0%

8.5%

COG Financial Services (COG)

Morgans

Buy

$1.16

$1.25

-7.2%

20.8%

Tyro Payments (TYR)

Morgans

Add

$1.51

$1.63

-7.4%

79.8%

Deep Yellow (DYL)

Bell Potter

Buy

$1.70

$1.90

-10.5%

30.3%

Ventia Services Group (VNT)

CLSA

Outperform

$3.90

$4.45

-12.4%

4.0%

Calix (CXL)

Shaw and Partners

Buy

$1.70

$2.00

-15.0%

132.9%

NIB (NHF)

Morgans

Add

$6.10

$7.31

-16.6%

10.3%

Platinum Asset Management (PTM)

Bell Potter

Sell

$0.59

$0.74

-20.3%

-13.9%

Medadvisor (MDR)

Bell Potter

Buy

$0.40

$0.55

-27.3%

95.1%

Paladin Energy (PDN)

Macquarie

Neutral

$9.10

$15.00

-39.3%

9.5%

Megaport (MP1)

Citi

Buy

$9.00

$16.05

-43.9%

15.4%

Biggest broker price target changes since last update. Price Target Upside/Downside (“PT Upside%”) values in the last column are based on closing prices as on most recent session's close.

How to read broker recommendations 🔎

Typically, there are two major components of a broker’s view:

Rating: A call to action, usually along the lines of buy, hold, or sell, but depending on the broker’s ratings system, can be somewhere in between (e.g., accumulate or add is typically between a hold and a buy). If a rating is initiated, it is the first time the broker has covered the stock in question.

Price target (PT): The price at which the broker expects the stock will be trading at some point in the future, generally within the next 12 months.

Written By

Carl Capolingua

Content Editor

Carl has over 30-year's investing experience, helping investors navigate several bull and bear markets over this time. He is a well respected markets commentator who specialises in how the global macro impacts Australian and US equities. Carl has a passion for technical analysis and has taught his unique brand of price-action trend following to thousands of Aussie investors.

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