Broker Watch

ASX Broker Moves: Upgrades for Baby Bunting, Resmed vs Downgrades for Computershare, Monadelphous, Beach Energy

Thu 16 Jan 25, 3:18pm (AEDT)
asx boker moves
Source: Shutterstock, Market Index

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aru
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avj
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bbn
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bpt
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coh
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cpu
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mnd
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org
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pmv
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rmd
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rrl
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s32
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sek
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Key Points

  • Upgrades: Baby Bunting (BBN) and Resmed (RMD)
  • Downgrades: Computershare (CPU), Monadelphous (MND) and Beach Energy (BPT)
  • Target price biggest increases: Computershare (CPU), Origin Energy (ORG), HMC Capital (HMC)
  • Target price biggest cuts: Premier Investments (PMV), Integrated Research (IRI) and Arafura Rare Earths (ARU)

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

  • Citi on Baby Bunting (ASX: BBN): "In our view, [there] are early signs that the turnaround is going to plan, and further upside may come from i) the store refurbishment program and new store formats if the company can continue to execute, ii) gross margins continuing to surprise on the upside"

  • Ord Minnett on Resmed (ASX: RMD): "Ord Minnett has reviewed its models for healthcare companies under its coverage to incorporate foreign exchange movements in the December quarter...resulting in changes to EPS forecasts across the sector...leads us to raise our recommendation on [the] sleep apnoea equipment supplier"

  • Citi on Beach Energy (ASX: BPT): "The sharp rally since the site trip we think has gone too far relative to the remaining execution risks...therefore contend there is no upside left to own BPT"

  • Goldman Sachs on Computershare (ASX: CPU): "CPU has had a strong share price run benefiting from a supportive macro backdrop...with CPU now trading at close to ~17x FY25 earnings based on current USD/AUD FX, which we think is more fairly priced vs. how CPU has traded historically"

  • Macquarie on Monadelphous (ASX: MND): "[MND's] risk/reward now fairly balanced in our view. Prior share price to EPS gap has now closed up"

  • Goldman Sachs on Origin Energy (ASX: ORG): "ORG remains well positioned to benefit from Australia’s energy transition...though we consider the stock fully valued after recent strong performance"


Rating UPGRADED

Company

Broker

New Rating

Old Rating

Price Target

PT Upside%

Baby Bunting Group (BBN)

Citi

Buy

Neutral

$2.01

11.7%

Resmed Inc (RMD)

Ord Minnett

Buy

Hold

$43.90

18.4%

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

Rating DOWNGRADED

Company

Broker

New Rating

Old Rating

Price Target

PT Upside%

Beach Energy (BPT)

Citi

Sell

Neutral

$1.30

-12.5%

Computershare (CPU)

Goldman Sachs

Neutral

Buy

$35.50

4.5%

Monadelphous Group (MND)

Macquarie

Neutral

Outperform

$14.80

2.5%

Origin Energy (ORG)

Goldman Sachs

Neutral

Buy

$10.40

-7.1%

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%

DigiCo REIT (DGT)

Goldman Sachs

Accumulate

N/A

$5.80

31.5%

Steadfast Group (SDF)

CLSA

Outperform

N/A

$6.60

14.0%

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%

Computershare (CPU)

Goldman Sachs

Neutral

$35.50

$31.00

14.5%

4.5%

Origin Energy (ORG)

Citi

Buy

$12.50

$11.00

13.6%

11.7%

HMC Capital (HMC)

Goldman Sachs

Buy

$9.86

$8.94

10.3%

6.6%

Resmed Inc (RMD)

Ord Minnett

Buy

$43.90

$40.05

9.6%

18.4%

Woodside Energy Group (WDS)

Citi

Sell

$23.50

$21.50

9.3%

-8.8%

Beach Energy (BPT)

Citi

Sell

$1.30

$1.20

8.3%

-12.5%

Sonic Healthcare (SHL)

Ord Minnett

Lighten

$25.45

$23.85

6.7%

-8.7%

Cochlear (COH)

Ord Minnett

Hold

$315.50

$301.00

4.8%

2.8%

Avjennings (AVJ)

Bell Potter

Hold

$0.70

$0.67

4.5%

1.4%

Regis Resources (RRL)

Macquarie

Outperform

$3.40

$3.30

3.0%

17.2%

Monadelphous Group (MND)

Macquarie

Neutral

$14.80

$14.44

2.5%

2.5%

Beach Energy (BPT)

Goldman Sachs

Sell

$1.33

$1.30

2.3%

-10.4%

James Hardie Industries (JHX)

Ord Minnett

Accumulate

$58.00

$57.00

1.8%

12.6%

Baby Bunting Group (BBN)

Citi

Buy

$2.01

$1.98

1.5%

11.7%

Viva Energy Group (VEA)

Goldman Sachs

Buy

$3.35

$3.30

1.5%

22.3%

AGL Energy (AGL)

Goldman Sachs

Neutral

$11.65

$11.50

1.3%

2.1%

Origin Energy (ORG)

Goldman Sachs

Neutral

$10.40

$10.30

1.0%

-7.1%

Fortescue (FMG)

UBS

Sell

$17.50

$17.60

-0.6%

-7.1%

CSL (CSL)

Ord Minnett

Accumulate

$318.00

$320.00

-0.6%

15.1%

Deterra Royalties (DRR)

UBS

Buy

$4.90

$4.95

-1.0%

21.9%

ARB Corporation (ARB)

Citi

Buy

$49.22

$50.00

-1.6%

22.8%

Santos (STO)

Goldman Sachs

Buy

$7.75

$7.90

-1.9%

8.5%

Ramsay Health Care (RHC)

Ord Minnett

Hold

$41.45

$42.40

-2.2%

19.7%

Woodside Energy Group (WDS)

Goldman Sachs

Neutral

$25.90

$26.90

-3.7%

0.5%

Strike Energy (STX)

Goldman Sachs

Buy

$0.25

$0.26

-3.8%

16.3%

Karoon Energy (KAR)

Goldman Sachs

Buy

$2.04

$2.15

-5.1%

44.7%

South32 (S32)

UBS

Buy

$4.00

$4.30

-7.0%

17.0%

Coronado Global Resources (CRN)

Bell Potter

Buy

$1.45

$1.60

-9.4%

94.6%

Seek (SEK)

Macquarie

Outperform

$25.00

$28.00

-10.7%

15.2%

Arafura Rare Earths (ARU)

Bell Potter

Hold

$0.15

$0.17

-11.8%

11.1%

Integrated Research (IRI)

Bell Potter

Buy

$0.75

$0.87

-13.8%

80.7%

Premier Investments (PMV)

Macquarie

Neutral

$29.00

$34.20

-15.2%

7.5%

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

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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