The S&P/ASX 200 closed 16.6 points lower, down 0.20%.
The benchmark S&P/ASX 200 closed slightly lower today, but still managed to log a decent gain for the week.
The standout sector of the market today was lithium. Lithium prices are on track to close out a solid week’s recovery, with spodumene prices up around 3% and the benchmark lithium carbonate contract set to close above the key RMB80k level.
On the other hand, there was really only one sector notably in the losers column, Financials. The sector was bullet proof in 2024 but has been anything but in 2025. Dogs to darlings and darlings to dogs. It's not unheard of in the first few weeks of January!
For the banks, it was likely a research report released by Citi that did the damage today – the broker chose to stick with its blanket sell rating on the sector.
Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key upcoming economic data in tonight's Evening Wrap.
Also, I have detailed technical analysis on Gold and Copper in today's ChartWatch.
Let's dive in!
Fri 17 Jan 25, 5:04pm (AEDT)
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The S&P/ASX 200 (XJO) finished 16.6 points lower at 8,310.4, 0.44% from its session high and just 0.09% from its low. Despite the dip in the benchmark index, in the broader-based S&P/ASX 300 (XKO), advancers beat decliners by 166 to 105.
For the week, the XJO shrugged off three down sessions to two to finish up 16.3 points or 0.20% higher, a tidy 1.83% from its intraweek low and a modest 0.44% from its intraweek high.
Today’s intraday chart reflected the volatility experienced during the week. While the end result was a modest loss, it should not detract from the fact we managed to recover from what looked at the time like a precarious position following Monday’s 102 point fall.
It could have been seriously worse for Aussie stocks this week – that is if not for that better than expected CPI print on Wednesday night, huh!? 🤔
Anyways, I believe it doesn’t matter why the demand-side chose to wade back in, nor does it matter why the supply-side reconsidered their situation, all of a sudden felt better about the world, and to choose to hang on – it just is.
And for now, the bull market here and in the USA remains intact. Next week? Well we’ll cross that bridge when we get there!
It was a mixed bag in terms of sector performance today – nothing really stood out among the winners. It was a hotch-potch of Industrials (XNJ) (+0.74) (so usually stock-specific stuff, then) and interest rate sensitives like Utilities (XUJ) (+0.51%), Gold (XGD) (+0.34%), and Information Technology (XIJ) (+0.19%) (note, risk-free market yields continued to pullback last night).
These were only modest moves, though. I do note that both Resources (XJR) (+0.40%) and Energy (XEJ) (+0.21%) also had half-decent days. Within Resources, lithium stocks were standouts. Lithium prices are on track to close out a solid week’s recovery, with spodumene prices up around 3% and the benchmark lithium carbonate contract set to close above the key RMB80k level.
The saying every dog has its day comes to mind. Good for you lithium bulls! 👏
For the dogs in the Energy sector, similarly, underlying commodity prices have also seen strong gains this week and helped sector stocks along accordingly.
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
Megaport (MP1) | $7.52 | +$0.69 | +10.1% | -1.8% | -16.4% |
Liontown Resources (LTR) | $0.635 | +$0.055 | +9.5% | +15.5% | -54.0% |
4DMEDICAL (4DX) | $0.605 | +$0.05 | +9.0% | +31.5% | -5.5% |
Syrah Resources (SYR) | $0.260 | +$0.02 | +8.3% | +40.5% | -50.5% |
Lovisa (LOV) | $29.28 | +$2.1 | +7.7% | -0.8% | +28.9% |
Neuren Pharmaceuticals (NEU) | $13.20 | +$0.92 | +7.5% | -0.8% | -42.5% |
Arafura Rare Earths (ARU) | $0.145 | +$0.01 | +7.4% | +31.8% | -6.5% |
Strike Energy (STX) | $0.225 | +$0.015 | +7.1% | +9.8% | -52.1% |
Peninsula Energy (PEN) | $1.450 | +$0.095 | +7.0% | +31.8% | -29.1% |
Lotus Resources (LOT) | $0.235 | +$0.015 | +6.8% | +20.5% | -20.3% |
Insignia Financial (IFL) | $4.43 | +$0.27 | +6.5% | +23.7% | +97.8% |
Latin Resources (LRS) | $0.170 | +$0.01 | +6.3% | +13.3% | -26.1% |
Wildcat Resources (WC8) | $0.260 | +$0.015 | +6.1% | +23.8% | -51.9% |
Opthea (OPT) | $0.820 | +$0.045 | +5.8% | +29.1% | +61.9% |
Aussie Broadband (ABB) | $3.84 | +$0.2 | +5.5% | +5.5% | +3.2% |
Cettire (CTT) | $1.360 | +$0.07 | +5.4% | +17.2% | -46.0% |
Core Lithium (CXO) | $0.093 | +$0.004 | +4.5% | +12.0% | -55.7% |
Clarity Pharmaceuticals (CU6) | $3.94 | +$0.16 | +4.2% | -14.0% | +71.8% |
Life360 (360) | $22.63 | +$0.89 | +4.1% | -1.4% | +230.4% |
Metals Acquisition (MAC) | $17.68 | +$0.67 | +3.9% | -7.1% | 0% |
WA1 Resources (WA1) | $13.83 | +$0.51 | +3.8% | -8.5% | +16.9% |
Droneshield (DRO) | $0.690 | +$0.025 | +3.8% | +12.2% | +76.9% |
The Star Entertainment Group (SGR) | $0.140 | +$0.005 | +3.7% | -31.7% | -70.8% |
IGO (IGO) | $5.32 | +$0.19 | +3.7% | +6.2% | -28.6% |
Develop Global (DVP) | $2.41 | +$0.08 | +3.4% | +9.1% | -7.0% |
There was really only one sector notably in the losers column, Financials (XFJ) (-0.99%). The sector was bullet proof in 2024 but has been anything but in 2025. Dogs to darlings and darlings to dogs. It's not unheard of in the first few weeks of January.
For the banks, it was likely a research report released by Citi that did the damage today – the broker chose to stick with its blanket sell rating on the sector (see Broker Moves section below for more details).
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
Ora Banda Mining (OBM) | $0.730 | -$0.04 | -5.2% | +12.3% | +217.4% |
REA Group (REA) | $230.12 | -$6.42 | -2.7% | -3.0% | +28.2% |
Supply Network (SNL) | $33.32 | -$0.86 | -2.5% | +2.4% | +104.4% |
TPG Telecom (TPG) | $4.49 | -$0.11 | -2.4% | +1.1% | -12.6% |
JB HI-FI (JBH) | $92.09 | -$2.02 | -2.1% | -2.0% | +57.5% |
Avita Medical (AVH) | $2.80 | -$0.06 | -2.1% | -26.7% | -38.6% |
Regis Healthcare (REG) | $6.16 | -$0.13 | -2.1% | -6.1% | +95.6% |
ANZ Group (ANZ) | $29.45 | -$0.53 | -1.8% | +0.9% | +14.4% |
National Australia Bank (NAB) | $37.78 | -$0.67 | -1.7% | +0.4% | +22.9% |
James Hardie Industries (JHX) | $53.63 | -$0.93 | -1.7% | 0.0% | -3.9% |
Guzman y Gomez (GYG) | $40.35 | -$0.65 | -1.6% | -2.4% | 0% |
Pro Medicus (PME) | $248.70 | -$3.88 | -1.5% | -0.8% | +158.6% |
Westpac Banking Corporation (WBC) | $32.16 | -$0.5 | -1.5% | -0.8% | +40.2% |
Mesoblast (MSB) | $2.69 | -$0.04 | -1.5% | +66.6% | +843.9% |
NRW (NWH) | $3.46 | -$0.05 | -1.4% | -6.7% | +26.7% |
Netwealth Group (NWL) | $26.71 | -$0.38 | -1.4% | -7.6% | +65.6% |
Sigma Healthcare (SIG) | $2.83 | -$0.04 | -1.4% | +6.0% | +197.9% |
National Storage Reit (NSR) | $2.30 | -$0.03 | -1.3% | -2.5% | +3.1% |
HMC Capital (HMC) | $9.26 | -$0.12 | -1.3% | -4.8% | +63.0% |
Bendigo and Adelaide Bank (BEN) | $13.16 | -$0.17 | -1.3% | -1.1% | +38.5% |
Seek (SEK) | $22.05 | -$0.28 | -1.3% | -7.4% | -13.7% |
Capstone Copper Corp. (CSC) | $9.94 | -$0.12 | -1.2% | +0.1% | 0% |
Commonwealth Bank of Australia (CBA) | $153.90 | -$1.85 | -1.2% | -3.0% | +36.2% |
Nine Entertainment (NEC) | $1.285 | -$0.015 | -1.2% | +2.4% | -34.9% |
Myer (MYR) | $0.875 | -$0.01 | -1.1% | -27.1% | +35.7% |
For a detailed look at the key fundamental drivers of the gold price, as well as how those fundamentals presently look, be sure to read this article I wrote earlier in the week: Everything you need to know about gold in 2025: New highs or major downturn?
The last time we covered gold was in ChartWatch in the Evening Wrap on 9 January.
In that update, we were tracking a neutral short term uptrend within a still-well defined long term uptrend.
The short term picture has improved notably since then, with the appearance of several demand-side candles (i.e. white bodies and or downward pointing shadows). The price action was / is rising peaks and rising troughs, but I note it has also improved given the upward expansions are larger than the shallow pullbacks.
The short term trend ribbon has also turned higher, and checking that last trough low at 2672, it appears to be acting as zone of dynamic demand. Conclusion from the above factors? Short term demand-side control.
Long term demand-side control was never in doubt, so we officially have a realignment of short and long term trends. This implies the resumption of a long-side bias.
We are knocking on supply’s door, however, with 2748.2-2761.3 likely to offer modest resistance to the prevailing short term uptrend. There’s nothing in the candles to suggest that gold can’t eventually deal with this supply, and therefore set itself up for a test of the supply at the 2826.8 all time high.
2672 is now the closest relevant point of demand. It sits just below the dynamic demand we’d usually expect at the short term uptrend ribbon – so the combination of two makes an important zone of demand that the gold price must remain above to maintain the prevailing short term uptrend.
The last time we covered copper was in ChartWatch in the Evening Wrap on 10 January.
In that update, we noted a broadly rangebound picture, but to watch for “continued short term gains however, possibly to interact with supply around 4.5625-4.5685”.
So far so good on that call.
Rarely, on any chart, do you see such a clean set of candles and price action. It’s almost exclusively a wall of white since the 4.005 low. That low was completely at odds with the then prevailing short and long term trends.
This is not impossible, it can and does happen. When it does, that is, when the market has probably been taken completely by surprise, you can find there’s a bunch of money positioned on the wrong side of the market – or if you prefer – on the wrong side of the fundamentals that triggered the move.
This can lead to a wall of demand trying to enter / cover shorts in a supply-side vacuum – hence the recent candles and price action.
I can’t see a single thing in this chart to suggest the current run can’t continue. I would, however, watch the price action very carefully at the 4.5625-4.5685 zone of supply. If we continue to see demand-side candles logged there, then clearly it isn’t a supply zone to concern ourselves with. In this scenario, we can contemplate an extension of the rally to the next major zone of supply at 4.831-4.8595.
4.2735 is now the closest relevant point of demand. It sits just below the dynamic demand we’d usually expect at the short term uptrend ribbon – so the combination of two makes an important zone of demand that the gold price must remain above to maintain the prevailing short term uptrend.
The major difference between the gold and copper charts is the lack of a long term uptrend in the latter. So, whilst shifting one’s bias to the long-side makes perfect sense for gold, it’s less clear for copper. Things have improved, enough to say a short term long-side bias, but we’re still just trading within ranges within ranges here…
Today
China Data Dump December
Gross Domestic Product (qtr/y): +5.4% p.a. vs +5.0% p.a. forecast and 4.6% p.a. in September quarter
Industrial Production (y/y): +6.2% p.a. vs +5.4% p.a. forecast and +5.4% p.a. in November
Retail Sales (y/y): +3.7% p.a. vs +3.5% p.a. forecast and +3.0% p.a. in November
Fixed Asset Investment (ytd/y): +3.2% p.a. vs +3.3% p.a. forecast and +3.3% to November / previous corresponding period
Unemployment Rate: 5.1% vs 5.0% forecast and 5.0% in November
View: Generally a strong set of data here, particularly with respect to GDP, industrial production and retail sales. Annualised GDP not only improved relative to the previous quarter for the first time in four quarters, it bolted higher. For the calendar year 2024, Chinese GDP growth (coincidentally) was bang on 5% – Beijing's long held target). Shows stimulus measures to date are beginning to have a modest impact, but some of the bump (i.e., note those industrial production numbers as well as a strong exports component of GDP) could be simply due to front-running of production/exports ahead of looming Trump tariffs.
+10.1% Megaport (MP1) - No news, I note Morgans did retain an Add rating on the stock today and a $12.50 price target - but that didn't have anything to do with it…I suggest some pre-results positioning (perhaps short covering) afoot here…noticing it on a few of 2024's Dogs! 🧐
+9.5% Liontown Resources (LTR) - No news, dare I say "ditto" on Dogs of 2024 short covering / rotations…or should I be generous and note that lithium prices have firmed considerably this week, benchmark May-25 lithium carbonate futures are set for their first end of week close above the critical RMB 80k level in 8 weeks and spodumene prices are up 3% for the week
+9.0% 4DMEDICAL (4DX) - No news, improving short and long term trends here - I ran it in today's ChartWatch ASX Scans Uptrends list 🔎📈
+8.3% Syrah Resources (SYR) - No news, going ditto here on improving sentiment to beaten down ASX battery materials stocks
+7.7% Lovisa (LOV) - No news, upgraded to overweight from equal-weight at Morgan Stanley and price target raised to $32.00 from $28.50
+7.5% Neuren Pharmaceuticals (NEU) - Continued positive response to yesterday's Neuren JP Morgan Healthcare Conference 2025 presentation
+7.4% Arafura Rare Earths (ARU) - Continued positive response to 15-Jan Arafura receives A$200m investment commitment from the NRFC
+7.1% Strike Energy (STX) - CEO Transition and Strategic Review, plus strong recent trends in oil and natural gas prices
+7.0% Peninsula Energy (PEN) - No news, has been steadily improving since 19-Dec Commencement of Production at Lance Project
+6.5% Insignia Financial (IFL) - IFL Receives Revised Indicative Non-Binding Proposal
+6.3% Latin Resources (LRS) - Ditto strong moves in ASX lithium sector today
+6.1% Wildcat Resources (WC8) - Ditto strong moves in ASX lithium sector today
+5.8% Opthea (OPT) - No news since 14-Jan Opthea's Corporate Presentation - Jan 2025, rise is consistent with prevailing short and long term uptrends, a recent regular in ChartWatch ASX Scans Uptrends list 🔎📈
+5.5% Aussie Broadband (ABB) - Brian Maher appointed as Group CEO
+4.5% Core Lithium (CXO) - Ditto strong moves in ASX lithium sector today
-5.2% Ora Banda Mining (OBM) - No news, possibly delayed negative response to yesterday's December 2024 Quarterly Activities Report as broker updates flow through, in this regard I do note it was downgraded to hold from buy at Moelis Australia and its price target was cut to $0.83 from $0.84
-2.7% REA Group (REA) - No news, fall is consistent with prevailing short term downtrend, there has been a general rerate / derate of high-PE stocks in the Communication Services sector of late…
-2.5% Supply Network (SNL) - No news, nothing really to see here…small pullback in relation to prevailing short and long term uptrends
-2.4% TPG Telecom (TPG) - No news, repelled by the long term downtrend ribbon 🔎📉
-2.1% JB HI-FI (JBH) - No news, closed below short term uptrend ribbon ⚠️🧐
-2.1% Avita Medical (AVH) - Continued negative response to 8-Jan AVH Updates Expected Q4 & FY24 Revenue, FY25 Guidance
-1.8% ANZ Group (ANZ) - No news, generally weaker ASX banking sector today, possibly due to a Citi research note that reiterated a blanket sell rating on the sector (see Broker Moves section below for details)
-1.7% National Australia Bank (NAB) - No news, generally weaker ASX banking sector today, possibly due to a Citi research note that reiterated a blanket sell rating on the sector (see Broker Moves section below for details)
29METALS (29M)
Retained at hold at Ord Minnett; Price Target: $0.32 from $0.35
Aussie Broadband (ABB)
Upgraded to buy from hold at Jefferies; Price Target: $4.40 from $3.85
Australian Clinical Labs (ACL)
Retained at buy at Citi; Price Target: $4.00 from $3.60
Auckland International Airport (AIA)
Retained at neutral at UBS; Price Target: NZ$7.95
AI-Media Technologies (AIM)
Retained at add at Morgans; Price Target: $1.00
Atlas Arteria (ALX)
Retained at outperform at Macquarie; Price Target: $5.53 from $5.20
ANZ Group (ANZ)
Retained at sell at Citi; Price Target: $25.25
Atturra (ATA)
Retained at add at Morgans; Price Target: $1.15
Bluebet (BBT)
Retained at add at Morgans; Price Target: $0.36
Bendigo and Adelaide Bank (BEN)
Retained at sell at Citi; Price Target: $9.75
Retained at neutral at Jarden; Price Target: $11.20
Bellevue Gold (BGL)
Upgraded to hold from lighten at Ord Minnett; Price Target: $1.15 from $1.35
Retained at outperform at RBC Capital Markets; Price Target: $1.70
BHP Group (BHP)
Retained at neutral at Macquarie; Price Target: $42.00
Retained at accumulate at Ord Minnett; Price Target: $45.00
Boss Energy (BOE)
Retained at equal-weight at Morgan Stanley; Price Target: $2.70 from $2.75
Bank of Queensland (BOQ)
Retained at sell at Citi; Price Target: $6.00
Retained at neutral at Jarden; Price Target: $6.20
Car Group (CAR)
Retained at underweight at Jarden; Price Target: $35.50 from $32.75
Retained at hold at Morgans; Price Target: $37.20
Commonwealth Bank of Australia (CBA)
Retained at sell at Citi; Price Target: $91.50
Retained at underweight at Jarden; Price Target: $108.00
Champion Iron (CIA)
Retained at buy at Citi; Price Target: $7.40
Capricorn Metals (CMM)
Retained at buy at Ord Minnett; Price Target: $8.10 from $7.50
Cochlear (COH)
Initiated at buy at Goldman Sachs; Price Target: $325.40
Coles Group (COL)
Upgraded to outperform from hold at CLSA; Price Target: $20.60 from $17.90
Capstone Copper Corp. (CSC)
Retained at buy at Ord Minnett; Price Target: $13.00
CSL (CSL)
Initiated at buy at Goldman Sachs; Price Target: $316.70
Corporate Travel Management (CTD)
Retained at neutral at UBS; Price Target: $13.55
Catalyst Metals (CYL)
Retained at buy at Bell Potter; Price Target: $4.45 from $4.30
Retained at buy at Morgans; Price Target: $4.04 from $4.01
Datadot Technology (DEG)
Retained at sector perform at RBC Capital Markets; Price Target: $2.00
Deterra Royalties (DRR)
Downgraded to accumulate from buy at Ord Minnett; Price Target: $4.40 from $4.80
Emerald Resources (EMR)
Retained at hold at Ord Minnett; Price Target: $3.50 from $4.00
Evion Group (EVN)
Retained at underperform at RBC Capital Markets; Price Target: $4.30
Flight Centre Travel Group (FLT)
Retained at buy at UBS; Price Target: $22.10
Fortescue (FMG)
Upgraded to buy from accumulate at Ord Minnett; Price Target: $21.10 from $20.50
Fisher & Paykel Healthcare Corporation (FPH)
Initiated at neutral at Goldman Sachs; Price Target: $42.70
Genesis Minerals (GMD)
Retained at buy at Bell Potter; Price Target: $3.35 from $2.80
Retained at buy at Canaccord Genuity; Price Target: $4.15 from $4.05
Retained at outperform at Macquarie; Price Target: $3.30 from $3.10
Retained at accumulate at Ord Minnett; Price Target: $3.15 from $2.90
Retained at buy at Shaw and Partners; Price Target: $3.30 from $2.80
Downgraded to neutral from buy at UBS; Price Target: $3.00 from $2.80
Global X Physical Gold ETF (GOR)
Retained at sector perform at RBC Capital Markets; Price Target: $2.30
IGO (IGO)
Retained at buy at Ord Minnett; Price Target: $7.50
Judo Capital (JDO)
Retained at sell at Citi; Price Target: $1.35
Jumbo Interactive (JIN)
Retained at add at Morgans; Price Target: $14.60 from $15.80
Light & Wonder (LNW)
Retained at add at Morgans; Price Target: $175.00 from $180.00
Lovisa (LOV)
Upgraded to overweight from equal-weight at Morgan Stanley; Price Target: $32.00 from $28.50
Arcadium Lithium (LTM)
Retained at hold at Ord Minnett; Price Target: $8.60
Liontown Resources (LTR)
Upgraded to hold from lighten at Ord Minnett; Price Target: $0.62 from $0.74
Lynas Rare Earths (LYC)
Retained at underweight at Morgan Stanley; Price Target: $5.70 from $5.60
Metals Acquisition (MAC)
Retained at buy at Ord Minnett; Price Target: $28.00
Maas Group (MGH)
Retained at add at Morgans; Price Target: $5.30
Mineral Resources (MIN)
Retained at sell at Jarden; Price Target: $27.60 from $31.20
Retained at accumulate at Ord Minnett; Price Target: $42.00 from $44.00
McMillan Shakespeare (MMS)
Retained at buy at Citi; Price Target: $18.40 from $20.05
Megaport (MP1)
Retained at add at Morgans; Price Target: $12.50
National Australia Bank (NAB)
Retained at sell at Citi; Price Target: $26.50
Retained at overweight at Jarden; Price Target: $37.00
Nanosonics (NAN)
Upgraded to neutral from sell at Citi; Price Target: $3.40 from $3.15
Newmont Corporation (NEM)
Retained at buy at Ord Minnett; Price Target: $77.00
Neuren Pharmaceuticals (NEU)
Initiated at buy at Ord Minnett; Price Target: $29.30
Nickel Industries (NIC)
Retained at buy at Ord Minnett; Price Target: $1.60
Northern Star Resources (NST)
Upgraded to neutral from underweight at Jarden; Price Target: $15.80 from $13.10
Retained at equal-weight at Morgan Stanley; Price Target: $15.55 from $15.60
Retained at sector perform at RBC Capital Markets; Price Target: $19.50 from $19.00
Northern Minerals (NTU)
Retained at buy at Ord Minnett; Price Target: $0.03
Nextdc (NXT)
Retained at add at Morgans; Price Target: $20.00 from $20.50
Ora Banda Mining (OBM)
Retained at buy at Canaccord Genuity; Price Target: $0.85
Downgraded to hold from buy at Moelis Australia; Price Target: $0.83 from $0.84
Paladin Energy (PDN)
Retained at overweight at Morgan Stanley; Price Target: $10.25 from $10.50
Pro Medicus (PME)
Retained at sell at Citi; Price Target: $150.00 from $100.00
Perseus Mining (PRU)
Retained at buy at Ord Minnett; Price Target: $3.40
Qualitas (QAL)
Retained at add at Morgans; Price Target: $3.20
Qantas Airways (QAN)
Retained at neutral at UBS; Price Target: $9.00
REA Group (REA)
Retained at hold at Morgans; Price Target: $215.00
Rio Tinto (RIO)
Retained at neutral at Citi; Price Target: $134.00
Retained at buy at Goldman Sachs; Price Target: $146.20 from $147.80
Retained at neutral at Macquarie; Price Target: $120.00
Retained at overweight at Morgan Stanley; Price Target: $136.50
Retained at add at Morgans; Price Target: $125.00 from $129.00
Retained at buy at Ord Minnett; Price Target: $132.00 from $131.00
Retained at sector perform at RBC Capital Markets; Price Target: $120.00
Retained at neutral at UBS; Price Target: $124.00
Resmed Inc (RMD)
Retained at neutral at Citi; Price Target: $38.00
Initiated at buy at Goldman Sachs; Price Target: $48.90
Resolution Minerals (RMS)
Retained at sector perform at RBC Capital Markets; Price Target: $3.00 from $2.70
Regal Partners (RPL)
Retained at add at Morgans; Price Target: $4.40 from $4.30
Regis Resources (RRL)
Retained at sell at Ord Minnett; Price Target: $1.75
Retained at outperform at RBC Capital Markets; Price Target: $4.00 from $3.80
Resolute Mining (RSG)
Retained at hold at Ord Minnett; Price Target: $0.50
South32 (S32)
Retained at buy at Ord Minnett; Price Target: $4.35 from $4.25
St Barbara (SBM)
Retained at sector perform at RBC Capital Markets; Price Target: $0.40 from $0.50
Seek (SEK)
Retained at add at Morgans; Price Target: $27.20 from $26.80
Smartgroup Corporation (SIQ)
Retained at buy at Citi; Price Target: $9.60 from $10.45
Superloop (SLC)
Retained at add at Morgans; Price Target: $2.40 from $1.70
Tabcorp (TAH)
Retained at hold at Morgans; Price Target: $0.60 from $0.50
Tourism Rentals (THL)
Retained at buy at Ord Minnett; Price Target: NZ$2.90 from NZ$3.00
The Lottery Corporation (TLC)
Retained at hold at Morgans; Price Target: $5.30 from $5.40
Telstra Group (TLS)
Retained at overweight at Jarden; Price Target: $5.25
TPG Telecom (TPG)
Retained at overweight at Jarden; Price Target: $4.20
Retained at add at Morgans; Price Target: $4.80
Tuas (TUA)
Retained at overweight at Morgan Stanley; Price Target: $6.70
Vault Minerals (VAU)
Retained at sector perform at RBC Capital Markets; Price Target: $0.45
Ventia Services Group (VNT)
Retained at hold at Morgans; Price Target: $3.45 from $3.50
West African Resources (WAF)
Retained at buy at Ord Minnett; Price Target: $2.10
Westpac Banking Corporation (WBC)
Retained at sell at Citi; Price Target: $26.25
Retained at neutral at Jarden; Price Target: $30.00
WEB Travel Group (WEB)
Retained at buy at UBS; Price Target: $6.15
Westgold Resources (WGX)
Retained at outperform at RBC Capital Markets; Price Target: $4.00 from $4.20
Zip Co. (ZIP)
Retained at neutral at Citi; Price Target: $3.15
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