Sydney Airport: Regulatory pressures ease By Nathan Lead 23 October 2019, 5:24 PM The Productivity Commission's final report was benign for SYD, if not helpful. We view the event as de-risking the investment case, and should contribute to the gap closing between the share price and our 12 month target price. Read more...
Megaport Limited: Focused on MCR upgrades this quarter By Nick Harris 23 October 2019, 4:47 PM Megaport Limited's (ASX:MP1) 1Q FY20 was in line with our expectations and we make some immaterial changes to our short term forecasts. We maintain our ADD rating. Read more...
Superloop: Three out of four ain't bad By Nick Harris 23 October 2019, 4:29 PM We believe the CEO and CFO have made significant progress in rightsizing and refocusing the business on value creation for customers and shareholders. We resume coverage post capital raising with an Add recommendation. Read more...
Oil Search: Tackling new key hurdles By Adrian Prendergast 23 October 2019, 4:13 PM Oil Search has had a steady Q3, with stable LNG and weaker liquids volumes of which have already been flagged. A new key hurdle for the PNG expansion has emerged, the P'nyang Gas Agreement talks. OSH is trading at an attractive discount and and we maintain our ADD rating. Read more...
Bank of Queensland: Hamstrung By Azib Khan 22 October 2019, 2:02 PM BOQ’s return on tangible equity (ROTE) has now declined to 10.2% in 2H19. With such a low ROTE, the Company is not creating shareholder value from our perspective. If the decline in ROTE is not stemmed, then soon we may view the Company as diminishing shareholder value. We retain a Reduce recommendation. Read more...
BHP Group: Iron ore could give better opportunity By Adrian Prendergast 22 October 2019, 1:06 PM BHP has announced it will spend US$345m on Jansen, ahead of a decision on the project going to the board in February 2021. Weakening demand could see short-term iron ore price volatility. We recommend holding fire to see if iron ore price volatility unfolds and provides a better entry point into BHP. Read more...
2019 Morgans Queensland Conference: Key picks and highlights By Andrew Tang 22 October 2019, 12:09 PM Morgans was pleased to host its 29th Annual Queensland Conference featuring 45 companies across a broad cross-section of the economy. Here you will find our summary, including key takeaways, best picks and common themes. Read more...
Technical Analysis: 18 October 2019 By Violeta Todorova 18 October 2019, 5:06 PM Splitit, Afterpay Touch, Superloop and G8 Education Read more...
Rio Tinto: Tracking to plan By Adrian Prendergast 17 October 2019, 11:30 AM RIO is trading near fair value, but we expect near-term iron ore volatility could uncover a better entry point Read more...
Santos: Makes another solid acquisition By Adrian Prendergast 15 October 2019, 3:13 PM Santos (ASX:STO) has announced it is acquiring ConocoPhillip's northern Australian business. We do not view the acquisition as significantly impacting STO's corporate appeal and we maintain our Add rating, with an increased price target. Read more...