ASX Broker Moves: Upgrades for Fortescue, Lovisa, Liontown Resources vs Downgrades for Deterra Royalties, Genesis Minerals
The ASX stocks enjoying the biggest upgrades, downgrades, and price target changes. What the major brokers loved, hated, and why.
Source: Shutterstock, Market Index
Mentioned
KEY POINTS
- Upgrades: Aussie Broadband (ABB), Bellevue Gold (BGL), Coles Group (COL), Fortescue (FMG), Lovisa (LOV), Liontown Resources (LTR), Nanosonics (NAN), and Northern Star Resources (NST).
- Downgrades: Deterra Royalties (DRR), Genesis Minerals (GMD), and Ora Banda Mining (OBM).
- Target price biggest increases: Pro Medicus (PME), Superloop (SLC), Northern Star Resources (NST), Tabcorp (TAH), and Genesis Minerals (GMD).
- Target price biggest cuts: St Barbara (SBM), Liontown Resources (LTR), Bellevue Gold (BGL), Emerald Resources (EMR), and Mineral Resources (MIN).
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
Ord Minnett on Bellevue Gold (ASX: BGL) ⬆️: The broker has marked to market various commodity prices for its mining coverage due to weaker commodity demand, higher market yields, and the potential for trade tariffs to be implemented, this results in 38% / 25.7% reductions in BGL's FY25 / FY26 earnings forecasts. UPGRADE TO HOLD.
Ord Minnett on Fortescue (ASX: FMG) ⬆️: The broker notes the stock's attractive valuation relative to its peers, as well as forecasts an improvement in Chinese steel production. UPGRADE TO BUY.
Morgan Stanley on Lovisa (ASX: LOV) ⬆️: "We see upside risk to FY25/26 store growth, given the acceleration in Jan-25, based on website data. If the run-rate is sustained, we think this will be positively received by the market given store growth is the key share price driver, in our view." UPGRADE TO OVERWEIGHT.
Goldman Sachs on CSL (ASX: CSL) and Resmed Inc (ASX: RMD) ⬆️: "Whilst RMD and CSL are navigating changes to their competitive landscape from new entrants, we believe the valuation multiple de-rate (both stocks at 10-year lows relative to the ASX200 index) is unwarranted considering the investments made to grow in their new operating environments." INITIATE AT BUY.
UBS on Genesis Minerals (ASX: GMD) ⬇️: "While we remain constructive on the name, strategy and management team, the stock has outperformed relatively and has run up to our NPV valuation...We see the risk reward as balanced, however if it were to bring forward Tower Hill and expand milling capacity this would present upside to our forecasts." DOWNGRADE TO NEUTRAL.
Rating UPGRADED
Company | Broker | New Rating | Old Rating | Price Target | PT Upside% |
|---|---|---|---|---|---|
Aussie Broadband (ABB) | Jefferies | Buy | Hold | $4.40 | 20.9% |
Bellevue Gold (BGL) | Ord Minnett | Hold | Lighten | $1.15 | 4.5% |
Coles Group (COL) | CLSA | Outperform | Hold | $20.60 | 8.7% |
Fortescue (FMG) | Ord Minnett | Buy | Accumulate | $21.10 | 11.7% |
Lovisa (LOV) | Morgan Stanley | Overweight | Equal-Weight | $32.00 | 17.7% |
Liontown Resources (LTR) | Ord Minnett | Hold | Lighten | $0.62 | 6.9% |
Nanosonics (NAN) | Citi | Neutral | Sell | $3.40 | 4.0% |
Northern Star Resources (NST) | Jarden | Neutral | Underweight | $15.80 | -9.0% |
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.
Rating DOWNGRADED
Company | Broker | New Rating | Old Rating | Price Target | PT Upside% |
|---|---|---|---|---|---|
Deterra Royalties (DRR) | Ord Minnett | Accumulate | Buy | $4.40 | 8.1% |
Genesis Minerals (GMD) | UBS | Neutral | Buy | $3.00 | 4.9% |
Ora Banda Mining (OBM) | Moelis Australia | Hold | Buy | $0.83 | 7.8% |
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.
Rating INITIATED
Company | Broker | New Rating | Old Rating | Price Target | PT Upside% |
|---|---|---|---|---|---|
Cochlear (COH) | Goldman Sachs | Buy | $325.40 | 7.1% | |
CSL (CSL) | Goldman Sachs | Buy | $316.70 | 14.9% | |
Fisher & Paykel Healthcare (FPH) | Goldman Sachs | Neutral | $42.70 | 25.5% | |
Neuren Pharmaceuticals (NEU) | Ord Minnett | Buy | $29.30 | 138.6% | |
Resmed Inc (RMD) | Goldman Sachs | Buy | $48.90 | 30.3% |
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% |
|---|---|---|---|---|---|---|
Pro Medicus (PME) | Citi | Sell | $150.00 | $100.00 | 50.0% | -40.6% |
Superloop (SLC) | Morgans | Add | $2.40 | $1.70 | 41.2% | 11.6% |
Northern Star Resources (NST) | Jarden | Neutral | $15.80 | $13.10 | 20.6% | -9.0% |
Tabcorp (TAH) | Morgans | Hold | $0.60 | $0.50 | 20.0% | -4.0% |
Genesis Minerals (GMD) | Bell Potter | Buy | $3.35 | $2.80 | 19.6% | 17.1% |
Genesis Minerals (GMD) | Shaw and Partners | Buy | $3.30 | $2.80 | 17.9% | 15.4% |
Coles Group (COL) | CLSA | Outperform | $20.60 | $17.90 | 15.1% | 8.7% |
Aussie Broadband (ABB) | Jefferies | Buy | $4.40 | $3.85 | 14.3% | 20.9% |
Lovisa (LOV) | Morgan Stanley | Overweight | $32.00 | $28.50 | 12.3% | 17.7% |
Australian Clinical Labs (ACL) | Citi | Buy | $4.00 | $3.60 | 11.1% | 17.3% |
Resolution Minerals (RMS) | RBC Capital Markets | Sector Perform | $3.00 | $2.70 | 11.1% | -97.5% |
Genesis Minerals (GMD) | Ord Minnett | Accumulate | $3.15 | $2.90 | 8.6% | 10.1% |
Car Group (CAR) | Jarden | Underweight | $35.50 | $32.75 | 8.4% | -8.0% |
Capricorn Metals (CMM) | Ord Minnett | Buy | $8.10 | $7.50 | 8.0% | 14.9% |
Nanosonics (NAN) | Citi | Neutral | $3.40 | $3.15 | 7.9% | 4.0% |
Genesis Minerals (GMD) | UBS | Neutral | $3.00 | $2.80 | 7.1% | 4.9% |
Genesis Minerals (GMD) | Macquarie | Outperform | $3.30 | $3.10 | 6.5% | 15.4% |
Atlas Arteria (ALX) | Macquarie | Outperform | $5.53 | $5.20 | 6.3% | 11.3% |
Regis Resources (RRL) | RBC Capital Markets | Outperform | $4.00 | $3.80 | 5.3% | 35.1% |
Catalyst Metals (CYL) | Bell Potter | Buy | $4.45 | $4.30 | 3.5% | 35.7% |
Fortescue (FMG) | Ord Minnett | Buy | $21.10 | $20.50 | 2.9% | 11.7% |
Northern Star Resources (NST) | RBC Capital Markets | Sector Perform | $19.50 | $19.00 | 2.6% | 12.3% |
Genesis Minerals (GMD) | Canaccord Genuity | Buy | $4.15 | $4.05 | 2.5% | 45.1% |
South32 (S32) | Ord Minnett | Buy | $4.35 | $4.25 | 2.4% | 24.6% |
Paladin Energy (PDN) | Morgan Stanley | Overweight | $10.25 | $10.50 | -2.4% | 21.0% |
Nextdc (NXT) | Morgans | Add | $20.00 | $20.50 | -2.4% | 29.6% |
Light & Wonder (LNW) | Morgans | Add | $175.00 | $180.00 | -2.8% | 22.2% |
Rio Tinto (RIO) | Morgans | Add | $125.00 | $129.00 | -3.1% | 4.5% |
Mineral Resources (MIN) | Ord Minnett | Accumulate | $42.00 | $44.00 | -4.5% | 16.6% |
Westgold Resources (WGX) | RBC Capital Markets | Outperform | $4.00 | $4.20 | -4.8% | 48.7% |
Jumbo Interactive (JIN) | Morgans | Add | $14.60 | $15.80 | -7.6% | 16.6% |
Smartgroup Corporation (SIQ) | Citi | Buy | $9.60 | $10.45 | -8.1% | 23.6% |
McMillan Shakespeare (MMS) | Citi | Buy | $18.40 | $20.05 | -8.2% | 19.3% |
Deterra Royalties (DRR) | Ord Minnett | Accumulate | $4.40 | $4.80 | -8.3% | 8.1% |
29METALS (29M) | Ord Minnett | Hold | $0.32 | $0.35 | -8.6% | 45.5% |
Mineral Resources (MIN) | Jarden | Sell | $27.60 | $31.20 | -11.5% | -23.4% |
Emerald Resources (EMR) | Ord Minnett | Hold | $3.50 | $4.00 | -12.5% | -1.7% |
Bellevue Gold (BGL) | Ord Minnett | Hold | $1.15 | $1.35 | -14.8% | 4.5% |
Liontown Resources (LTR) | Ord Minnett | Hold | $0.62 | $0.74 | -16.2% | 6.9% |
St Barbara (SBM) | RBC Capital Markets | Sector Perform | $0.40 | $0.50 | -20.0% | -88.5% |
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.
