ASX 200 sags on iron ore stocks, CSR bid talk, plus Wisetech, Woolworths results in focus

Today in Review

Markets

The S&P/ASX200 (XJO) finished 50.6 points lower at 7,608.4, 0.30% from its session low and 0.67% from its high. In the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by a dismal 83 to 189.

The Information Technology (XIJ) (+2.2%) sector was the best performing sector today, likely in response to big gains from its biggest stock by market capitalisaion, Wisetech Global (WTC) (+11.1%). This is why Wisetech did so well today, but other tech sector constituents Codan (CDA) (+16.5%) and Nuix (+9.7%) also enjoyed post-results gains.

Also doing well today was the Utilities (XUJ) (+1.3%) and Health Care (XHJ) (+0.65%) sectors, also driven by respective sector heavyweight gains. In utilities, Origin Energy (ORG) (+2.2%) did the heavy lifting, while in healthcare Cochlear (COH) (+3.3%) benefited as three major brokers increased their price targets (see Broker Moves).

Doing it tough again today was the Resources (XJR) (-1.5%) sector. In yesterday's Evening wrap we discussed the sell off in the iron ore price and potential impacts on local iron ore miners. BHP Group (BHP) (-2.3%), Rio Tinto (RIO) (-1.8%) and Fortescue (FMG) (-3.4%) were each dealt with harshly today.

ChartWatch

Shanghai Composite Index

This chart again caught my eye today. Yesterday evening, the People's Bank of China (PBOC) cut its five-year loan prime rate, a key benchmark for mortgages, by 0.25%. The move, from 4.2% to 3.95%, is the largest cut ever applied by the PBOC, and the market response so far suggests it's being seen as the first real move by the Bank to positively impact demand in China's ailing property market.

We've talked many times in ChartWatch about the horrific short and long term downtrends in the Shanghai Composite Index, but also about the many failed rally attempts each time (less impactful) stimulus measures have been implemented by Beijing.

Looking at the chart now, there certainly does appear to be some bang for Beijing's buck! A sharp rally is tacking place, and it's potentially even about to challenge the all-important long term downtrend ribbon. The candles, and the steepness of the rally up to this point, are impressive, and signal a substantial shift in the demand-supply environment back towards excess demand.

I suggest further caution is required, however, as we have seen similar rallies fail in the past. But, keep an eye our for a transition to higher peaks and higher toughs, the continued prevalence of demand-side candles, and the eventual turning of the trend ribbon as signs the Shanghai Composite is making a major low.

The ultimate test will be the long term trend ribbon. I suggest the long term downtrend is intact until the Shanghai Composite can close above this dynamic resistance zone.

Economy

Today

• AU Wage Price Index q/q December

  • Actual +0.9% q/q & 4.2% p.a. vs forecast +0.9% q/q & 4.2% p.a. vs +1.3% q/q & 4.1% in September

  • Private sector +0.9% q/q vs public sector +1.3% q/q

  • Industries with the largest contribution were healthcare (+1.3%) and education and training (+1.7%)

  • Impact: In line with expectations, but RBA likely to view as remaining uncomfortably high!

Later this week

Thursday

• USA FOMC Meeting Minutes

Friday

• USA Flash Manufacturing PMI: forecast 50.5 vs 50.7 previous

• USA Flash Services PMI: forecast 52.1 vs 52.5 previous

Latest News

Iron ore tumbles to three-month low as China rate cuts fail to ease growth concerns

No merger, no worries. Santos shareholders have a wall of free cash flow coming their way

Why Wisetech shares are rocketing today (how much higher can they go?)

An insider's guide to BHP's future growth plans: Nickel out, Potash in

Corporate Travel shares tumble on earnings and dividend miss, FY24 guidance cut

How the experts are investing in healthcare-related AI and biotech

Don't miss an ASX announcement this reporting season, check out our comprehensive H1 FY24 Earnings Season Calendar and set up and receive announcements direct to your inbox on Market Index: Create Alert Now

Interesting Movers

Trading higher

• +17.4% CSR (CSR) - Trading halt late in day following media speculation of an imminent bid from Saint Gobain, rise is consistent with prevailing short and long term uptrends

• +16.5% Codan (CDA) - Half Year Accounts, rise is consistent with prevailing short and long term uptrends

• +11.6% Strike Energy (STX) - No news today, rebounding from sharp selloff following recent South Erregulla Update announcements

• +11.1% Wisetech Global (WTC) - WTC 1H24 Appendix 4D and financial report, rise is consistent with prevailing short and long term uptrends

• +9.7% Nuix (NXL) - Continued positive response to Monday's Half Yearly Report and Accounts, rise is consistent with prevailing short and long term uptrends

• +9.5% Infomedia (IFM) - Continued positive response to yesterday's 1HFY24 Appendix 4D and Financial Statements, one upgrade and two price target increases by the brokers

• +8.5% Sayona Mining (SYA) - Firmed after yesterday's buy rumour/sell fact pullback post release of Moblan Lithium Project Definitive Feasibility Study, lithium carbonate prices up nearly 4% in China

• +8.2% Lycopodium (LYL) - Lycopodium Half Yearly Financial Report, rise is consistent with prevailing short and long term uptrends

• +7.7% McMillan Shakespeare (MMS) - Continued positive response to yesterday's Half Year Accounts, three price target increases by the brokers

• +7.6% Mader Group (MAD) - Half Yearly Report and Accounts

• +7.5% Latin Resources (LRS) - No news, Sayona appears to be driving moves across the sector at the moment! Lithium carbonate prices up nearly 4% in China

• +6.9% SG Fleet Group (SGF) - SFG Project Sea Dragon Update

• +6.8% OOH!Media (OML) - Continued positive response to Monday's Half Yearly Report and Accounts, two price target increases by brokers, rise is consistent with prevailing short and long term uptrends

• +5.8% Iluka Resources (ILU) - Iluka Full Year Results to 31 December 2023

Trading lower

• -20.2% Corporate Travel Management (CTD) - Profit Guidance & 1HFY24 Results

• -8.8% Deep Yellow (DYL) - Lower uranium price vs short term technical breakdowns across ASX uranium sector

• -8.6% Hansen Technologies (HSN) - First half FY24 Results

• -8.5% Omni Bridgeway (OBL) - Market Update, fall is consistent with prevailing long term downtrend, rejected long term downtrend ribbon

• -7.5% Fineos Corporation Holdings (FCL) - Preliminary Final Report

• -6.7% Peter Warren Automotive Holdings (PWR) - First half FY24 Results

• -6.6% Woolworths Group (WOW) - First half FY24 Results

• -6.3% Boss Energy (BOE) - Lower uranium price vs short term technical breakdowns across ASX uranium sector

• -6.0% Centuria Capital Group (CNI) - First half FY24 Results

• -5.7% Healius (HLS) - Healius announces Trading Update for FY 2024, fall is consistent with prevailing short and long term downtrend

• -5.7% Alkane Resources (ALK) - Half Yearly Report and Accounts, fall is consistent with prevailing short and long term downtrend

• -5.6% Australian Clinical Labs (ACL) - No news, fall is consistent with prevailing short and long term downtrend

• -5.6% Bannerman Energy (BMN) - Lower uranium price vs short term technical breakdowns across ASX uranium sector

Broker Notes

• The A2 Milk Company (A2M)

  • Retained at accumulate at Ord Minnett; Price Target: $7.40 from $7.20

  • Retained at hold at Bell Potter; Price Target: $5.70 from $5.15

• Adacel Technologies (ADA) retained at buy at Bell Potter; Price Target: $0.80 from $0.90

• Air New Zealand (AIZ) retained at accumulate at Ord Minnett; Price Target: $0.74 from $0.83

• Ampol (ALD)

  • Retained at hold at Ord Minnett; Price Target: $35.00

  • Retained at equalweight at Morgan Stanley; Price Target: $35.43

• Ansell (ANN)

  • Retained at neutral at Macquarie; Price Target: $24.75 from $24.35

  • Retained at neutral at Citi; Price Target: $26.00

  • Retained at equalweight at Morgan Stanley; Price Target: $24.14 from $25.38

• ANZ Group (ANZ)

  • Retained at neutral at UBS; Price Target: $25.00

  • Retained at buy at Goldman Sachs; Price Target: $27.84

  • Retained at neutral at Citi; Price Target: $26.00

  • Retained at overweight at Morgan Stanley; Price Target: $27.70

• APM Human Services International (APM)

  • Retained at buy at Ord Minnett; Price Target: $2.40

  • Downgraded to equal-weight from overweight at Morgan Stanley; Price Target: $1.22 from $2.60

• ARB Corporation (ARB)

  • Downgraded to underperform from hold at Jefferies; Price Target: $33.00 from $29.50

  • Downgraded to underweight from neutral at JPMorgan; Price Target: $33.00 from $29.50

  • Retained at underperform at Macquarie; Price Target: $32.30 from $26.90

  • Retained at buy at Citi; Price Target: $44.90 from $35.18

• Abacus Storage King (ASK) retained at buy at Shaw and Partners; Price Target: $1.30 from $1.25

• ASX (ASX)

  • Retained at sell at UBS; Price Target: $56.00

  • Retained at underweight at Morgan Stanley; Price Target: $53.50 from $54.00

  • Retained at neutral at Macquarie; Price Target: $63.00

  • Retained at neutral at Jarden; Price Target: $62.00 from $61.05

• AUB Group (AUB)

  • Retained at outperform at Macquarie; Price Target: $33.34 from $32.40

  • Retained at buy at UBS; Price Target: $34.50

  • Retained at buy at Goldman Sachs; Price Target: $32.50 from $32.00

  • Retained at overweight at Jarden; Price Target: $32.95 from $32.60

  • Retained at overweight at Morgan Stanley; Price Target: $37.25 from $38.30

  • Retained at overweight at JP Morgan; Price Target: $34.50 from $34.20

• Azure Minerals (AZS) retained at hold at Bell Potter; Price Target: $4.85

• Beforepay Group (B4P) retained at buy at Shaw and Partners; Price Target: $1.00

• Baby Bunting Group (BBN)

  • Downgraded to neutral from buy at Citi; Price Target: $1.70 from $2.15

  • Retained at neutral at Macquarie; Price Target: $1.75

• Bendigo and Adelaide Bank (BEN)

  • Downgraded at hold at Jefferies; Price Target: $10.00

  • Retained at overweight at Morgan Stanley; Price Target: $10.20 from $10.40

  • Retained at underperform at CLSA; Price Target: $9.80 from $9.70

  • Retained at hold at Ord Minnett; Price Target: $10.50

  • Retained at underperform at Macquarie; Price Target: $8.50

  • Retained at sell at Citi; Price Target: $8.60 from $8.85

• BHP Group (BHP)

  • Retained at neutral at UBS; Price Target: $44.00 from $46.00

  • Retained at buy at Goldman Sachs; Price Target: $49.40

  • Retained at neutral at Citi; Price Target: $46.00 from $49.00

  • Retained at equalweight at Morgan Stanley; Price Target: $44.95

• Boral (BLD) retained at hold at Bell Potter; Price Target: $6.24 from $6.30

• Bluescope Steel (BSL)

  • Retained at neutral at Citi; Price Target: $22.30 from $22.50

  • Retained at underweight at Morgan Stanley; Price Target: $20.00 from $21.00

• Bravura Solutions (BVS)

  • Upgraded to overweight from market-weight at Wilsons; Price Target: $1.51 from $0.69

  • Retained at neutral at Macquarie; Price Target: $1.30 from $0.83

  • Retained at buy at Shaw and Partners; Price Target: $1.70 from $1.00

• Commonwealth Bank of Australia (CBA) retained at sell at Citi; Price Target: $82.00

• Centuria Capital Group (CNI)

  • Retained at neutral at Macquarie; Price Target: $1.68 from $1.63

  • Retained at underweight at Jarden; Price Target: $1.80 from $1.75

• Centuria Office REIT (COF)

  • Retained at hold at Bell Potter; Price Target: $1.30

  • Retained at underweight at Morgan Stanley; Price Target: $1.26

  • Retained at underweight at Jarden; Price Target: $1.30 from $1.35

• Cochlear (COH)

  • Retained at sell at Ord Minnett; Price Target: $220.00

  • Retained at underweight at Morgan Stanley; Price Target: $276.00 from $258.00

  • Retained at underperform at Macquarie; Price Target: $255.00 from $260.00

  • Retained at sell at Citi; Price Target: $265.00 from $255.00

• Charter Hall Retail REIT (CQR)

  • Retained at equalweight at Morgan Stanley; Price Target: $3.55

  • Retained at neutral at Macquarie; Price Target: $3.61 from $3.58

• Conrad Asia Energy. (CRD) retained at buy at Bell Potter; Price Target: $1.85 from $2.30

• Coronado Global Resources (CRN)

  • Upgraded to neutral from underweight at Barrenjoey; Price Target: $1.40 from $1.55

  • Retained at outperform at Macquarie; Price Target: $2.20 from $2.50

  • Retained at buy at UBS; Price Target: $1.85 from $2.00

  • Retained at buy at Bell Potter; Price Target: $1.85 from $1.95

  • Retained at buy at Goldman Sachs; Price Target: $1.75 from $2.00

• Corporate Travel Management (CTD)

  • Retained at neutral at Macquarie; Price Target: $20.40

  • Retained at buy at Jarden; Price Target: $23.00

• Cleanaway Waste Management (CWY)

  • Retained at overweight at Morgan Stanley; Price Target: $2.88

  • Retained at neutral at Goldman Sachs; Price Target: $2.70

  • Upgraded to overweight from neutral at Jarden; Price Target: $2.85 from $2.60

• Delta Lithium (DLI) retained at buy at Bell Potter; Price Target: $0.75

• Domino's Pizza Enterprises (DMP) retained at neutral at Jarden; Price Target: $50.00

• Deterra Royalties (DRR)

  • Retained at neutral at UBS; Price Target: $5.00

  • Retained at overweight at Morgan Stanley; Price Target: $5.65

  • Retained at neutral at Goldman Sachs; Price Target: $5.00

  • Retained at neutral at Macquarie; Price Target: $4.80

• Emeco Holdings (EHL) retained at buy at Jarden; Price Target: $0.95 from $1.10

• Envirosuite (EVS) retained at buy at Bell Potter; Price Target: $0.10 from $0.13

• Flight Centre Travel Group (FLT) retained at outperform at Macquarie; Price Target: $22.15

• GDI Property Group (GDI) retained at buy at Bell Potter; Price Target: $0.75

• GPT Group (GPT)

  • Retained at equalweight at Morgan Stanley; Price Target: $4.60

  • Retained at outperform at Macquarie; Price Target: $4.61 from $4.77

  • Retained at buy at Citi; Price Target: $4.90

• GQG Partners (GQG)

  • Upgraded at buy at Goldman Sachs; Price Target: $2.40 from $1.80

  • Retained at outperform at Macquarie; Price Target: $2.40 from $2.25

• GWA Group (GWA) retained at outperform at Macquarie; Price Target: $2.70 from $2.50

• Highcom (HCL) retained at buy at Bell Potter; Price Target: $0.35 from $0.70

• Homeco Daily Needs REIT (HDN)

  • Retained at hold at Bell Potter; Price Target: $1.30

  • Retained at equalweight at Morgan Stanley; Price Target: $1.35

  • Retained at neutral at Macquarie; Price Target: $1.26 from $1.24

  • Retained at overweight at Jarden; Price Target: $1.40 from $1.35

• HMC Capital (HMC)

  • Upgraded to buy from hold at Jefferies; Price Target: $8.04 from $6.85

  • Retained at neutral at Macquarie; Price Target: $6.76 from $5.12

  • Retained at neutral at Jarden; Price Target: $7.00 from $6.35

  • Retained at equalweight at Morgan Stanley; Price Target: $6.60 from $5.80

• HUB24 (HUB)

  • Downgraded to market-weight from overweight at Wilsons; Price Target: $42.63 from $40.00

  • Retained at neutral at Macquarie; Price Target: $37.20 from $34.10

  • Retained at neutral at UBS; Price Target: $41.00 from $37.50

  • Retained at neutral at Jarden; Price Target: $38.50 from $37.10

  • Retained at overweight at Morgan Stanley; Price Target: $41.00

• Insurance Australia Group (IAG)

  • Retained at neutral at Goldman Sachs; Price Target: $6.00

  • Retained at outperform at Macquarie; Price Target: $6.40 from $6.10

• Integral Diagnostics (IDX)

  • Upgraded to positive from neutral at E&P; Price Target: $2.35 from $2.10

  • Downgraded to neutral from overweight at JPMorgan; Price Target: $2.40 from $2.50

  • Downgraded to outperform from buy at CLSA; Price Target: $2.50

  • Retained at outperform at Macquarie; Price Target: $2.65 from $2.45

  • Retained at neutral at Jarden; Price Target: $2.59 from $2.54

  • Retained at underweight at Morgan Stanley; Price Target: $1.85 from $1.70

• Infomedia (IFM)

  • Upgraded to buy from outperform at CLSA; Price Target: $1.85

  • Retained at buy at UBS; Price Target: $2.05 from $2.00

  • Retained at buy at Bell Potter; Price Target: $1.75

  • Retained at buy at Shaw and Partners; Price Target: $2.00 from $1.90

• IGO (IGO) retained at hold at Bell Potter; Price Target: $7.80

• Imdex (IMD)

  • Retained at buy at UBS; Price Target: $2.25 from $2.10

  • Retained at outperform at Macquarie; Price Target: $2.45 from $2.07

• Ingenia Communities Group (INA)

  • Upgraded to underperform from sell at CLSA; Price Target: $4.82 from $3.94

  • Retained at buy at Jarden; Price Target: $5.45 from $5.20

• Inghams Group (ING)

  • Retained at buy at Bell Potter; Price Target: $4.35 from $4.90

  • Retained at neutral at UBS; Price Target: $4.10 from $4.50

  • Retained at sell at Goldman Sachs; Price Target: $3.15 from $3.25

  • Retained at overweight at Jarden; Price Target: $3.95 from $3.90

• IPH (IPH) retained at outperform at Macquarie; Price Target: $10.60

• Incitec Pivot (IPL)

  • Retained at equalweight at Morgan Stanley; Price Target: $3.00 from $3.10

  • Retained at neutral at Macquarie; Price Target: $2.90 from $3.00

• Judo Capital Holdings (JDO)

  • Upgraded to overweight from neutral at Barrenjoey; Price Target: $1.60 from $1.50

  • Upgraded to overweight from neutral at JPMorgan; Price Target: $1.39 from $1.14

  • Downgraded to underperform from neutral at Macquarie; Price Target: $1.00 from $1.05

  • Retained at buy at Goldman Sachs; Price Target: $1.69 from $1.63

  • Retained at sell at Citi; Price Target: $1.04 from $0.87

  • Retained at equalweight at Morgan Stanley; Price Target: $1.25 from $1.21

• KMD Brands (KMD) retained at neutral at Macquarie; Price Target: $0.47 from $0.62

• Lynch Group Holdings (LGL) retained at overweight at Jarden; Price Target: $2.50

• Lendlease Group (LLC)

  • Retained at equalweight at Morgan Stanley; Price Target: $7.30 from $8.25

  • Downgraded to neutral from buy at Citi; Price Target: $6.90 from $9.40

• Latin Resources (LRS) retained at buy at Bell Potter; Price Target: $0.43

• Liontown Resources (LTR) downgraded to sell from neutral at Citi; Price Target: $1.00

• Mader Group (MAD) retained at buy at Bell Potter; Price Target: $7.60 from $7.30

• Macmahon Holdings (MAH)

  • Retained at outperform at Macquarie; Price Target: $0.25

  • Retained at buy at Jarden; Price Target: $0.26 from $0.24

• McMillan Shakespeare (MMS)

  • Retained at outperform at Macquarie; Price Target: $22.63 from $19.02

  • Retained at buy at Citi; Price Target: $21.80 from $19.50

  • Retained at overweight at Morgan Stanley; Price Target: $21.50 from $18.50

• Monadelphous Group (MND)

  • Retained at outperform at Macquarie; Price Target: $15.10 from $15.05

  • Retained at neutral at UBS; Price Target: $15.00

  • Retained at sell at Goldman Sachs; Price Target: $12.30

  • Retained at buy at Citi; Price Target: $16.20

  • Retained at overweight at Jarden; Price Target: $14.45

• Megaport (MP1)

  • Retained at outperform at Macquarie; Price Target: $15.90 from $15.50

  • Retained at buy at UBS; Price Target: $14.50

  • Retained at buy at Goldman Sachs; Price Target: $14.85 from $13.50

• New Hope Corporation (NHC)

  • Retained at neutral at Citi; Price Target: $4.85 from $5.30

  • Retained at sell at Goldman Sachs; Price Target: $3.40 from $3.60

• National Storage REIT (NSR) retained at neutral at Jarden; Price Target: $2.70

• Netwealth Group (NWL)

  • Retained at hold at Morgans; Price Target: $18.15 from $16.10

  • Retained at underweight at JP Morgan; Price Target: $13.00

  • Retained at hold at Jefferies; Price Target: $19.68 from $15.95

  • Retained at underweight at Barrenjoey; Price Target: $11.60

  • Retained at underperform at Macquarie; Price Target: $15.30 from $14.80

  • Retained at buy at UBS; Price Target: $21.30 from $18.40

  • Retained at underweight at Jarden; Price Target: $15.55 from $15.00

  • Retained at overweight at Morgan Stanley; Price Target: $17.50

• Nuix (NXL) retained at buy at Shaw and Partners; Price Target: $2.40 from $2.20

• OOH!Media (OML)

  • Retained at hold at Ord Minnett; Price Target: $1.65 from $1.60

  • Retained at outperform at Macquarie; Price Target: $2.31 from $2.17

• Orora (ORA)

  • Retained at overweight at Morgan Stanley; Price Target: $3.20 from $3.30

  • Retained at buy at Citi; Price Target: $3.16 from $3.28

• Origin Energy (ORG) retained at outperform at Macquarie; Price Target: $9.29 from $9.26

• Pilbara Minerals (PLS) retained at hold at Bell Potter; Price Target: $3.60

• Perenti (PRN)

  • Retained at outperform at Macquarie; Price Target: $1.70

  • Retained at buy at Citi; Price Target: $1.25

• Peter Warren Automotive Holdings (PWR) retained at buy at Jarden; Price Target: $3.20

• QBE Insurance Group (QBE)

  • Retained at buy at Goldman Sachs; Price Target: $18.65

  • Retained at buy at Jarden; Price Target: $19.10 from $19.25

• Retail Food Group (RFG) initiated buy at Unified Capital Partners; Price Target: $0.11

• Ramsay Health Care (RHC) retained at neutral at Jarden; Price Target: $61.26 from $58.98

• Ramelius Resources (RMS)

  • Retained at neutral at Macquarie; Price Target: $1.60 from $1.70

  • Retained at buy at Shaw and Partners; Price Target: $2.00

• Reliance Worldwide Corporation (RWC)

  • Upgraded to accumulate from hold at Ord Minnett; Price Target: $5.10 from $4.10

  • Retained at buy at UBS; Price Target: $5.40 from $4.80

  • Retained at equalweight at Morgan Stanley; Price Target: $4.20

  • Retained at outperform at Macquarie; Price Target: $5.10 from $4.70

  • Upgraded to buy from neutral at Citi; Price Target: $5.45 from $3.90

• South32 (S32)

  • Retained at buy at UBS; Price Target: $3.75 from $3.80

  • Retained at neutral at Macquarie; Price Target: $3.10

• Scentre Group (SCG) retained at buy at Jarden; Price Target: $3.50

• SG Fleet Group (SGF)

  • Upgraded to buy from underperform at CLSA; Price Target: $3.10 from $2.70

  • Retained at outperform at Macquarie; Price Target: $3.21 from $2.97

  • Retained at overweight at Morgan Stanley; Price Target: $3.10 from $3.00

• Sims (SGM)

  • Downgraded to sector perform from outperform at RBC Capital Markets; Price Target: $14.00 from $15.50

  • Downgraded to underweight from neutral at JPMorgan; Price Target: $11.00 from $13.50

  • Downgraded to underperform from outperform at CLSA; Price Target: $13.30 from $13.90

  • Retained at outperform at Macquarie; Price Target: $16.00 from $17.30

  • Retained at neutral at UBS; Price Target: $13.60 from $14.00

  • Upgraded to neutral from sell at Citi; Price Target: $13.50

  • Retained at neutral at Goldman Sachs; Price Target: $14.00 from $16.20

  • Retained at neutral at Jarden; Price Target: $14.00 from $14.66

  • Retained at underweight at Morgan Stanley; Price Target: $12.00

• Stockland (SGP) retained at overweight at Jarden; Price Target: $4.90

• Sonic Healthcare (SHL)

  • Downgraded to neutral from buy at Citi; Price Target: $31.00 from $33.00

  • Downgraded to underweight from neutral at JPMorgan; Price Target: $26.00 from $30.00

  • Retained at hold at Jefferies; Price Target: $33.60 from $35.55

  • Retained at neutral at E&P; Price Target: $33.00 from $36.00

  • Retained at underweight at Barrenjoey; Price Target: $28.00 from $29.85

  • Retained at add at Morgans; Price Target: $34.05 from $36.55

  • Retained at neutral at Macquarie; Price Target: $27.85 from $29.80

  • Retained at neutral at Jarden; Price Target: $28.88 from $31.20

  • Retained at overweight at Morgan Stanley; Price Target: $33.60 from $35.55

• Silex Systems (SLX) retained at buy at Shaw and Partners; Price Target: $7.60

• Santana Minerals (SMI) retained at buy at Bell Potter; Price Target: $1.70 from $1.80

• SRG Global (SRG) retained at buy at Shaw and Partners; Price Target: $1.20 from $1.15

• Strike Energy (STX) downgraded to neutral from outperform at Macquarie; Price Target: $0.22 from $0.40

• Suncorp Group (SUN)

  • Retained at buy at UBS; Price Target: $16.80 from $15.30

  • Retained at buy at Goldman Sachs; Price Target: $15.00

  • Retained at buy at Citi; Price Target: $15.55

  • Retained at overweight at Morgan Stanley; Price Target: $16.10

• Solvar (SVR) downgraded to hold from buy at Bell Potter; Price Target: $1.07 from $1.09

• Tyro Payments (TYR) retained at buy at Shaw and Partners; Price Target: $1.60

• Westpac Banking Corporation (WBC)

  • Retained at accumulate at Ord Minnett; Price Target: $28.00

  • Retained at sell at UBS; Price Target: $20.00

  • Retained at hold at Citi; Price Target: $22.25

  • Retained at underweight at Morgan Stanley; Price Target: $22.40 from $21.70

  • Retained at outperform at Macquarie; Price Target: $25.00 from $24.00

• Woodside Energy Group (WDS) retained at neutral at UBS; Price Target: $31.40 from $32.60

• Webjet (WEB) retained at outperform at Macquarie; Price Target: $8.37

• Woolworths Group (WOW) retained at overweight at Jarden; Price Target: $42.90

Scans

This article first appeared on Market Index on 21 February 2024.