- NEXTDC LIMITED
RBS Australia rates as Buy (1) - The company has appointed Craig Scroggie as the new CEO, with founder and current CEO Bevan Slattery to take an executive seat on the board. Good news, says RBS, believing the new chief will help improve sales and corporate expertise, while allowing Slattery to focus on technology. Buy call, target and forecasts maintained. More
- GWA GROUP LIMITED
Citi rates as Sell (5) - Target $1.79 (was $1.80). Citi notes is set to buy security and door-lock business Q Technology Group for about $20.4m. The QTG Board unanimously supports the offer, but the broker notes that while the price is a 16% discount to net assets, it is a 54% premium to NTA (net tangible assets). The broker estimates the deal could dilute group earnings margins by up to 70bps in FY14. There are small increases to FY13-14 EPS forecasts to incorporate the deal, but the Sell call is maintained. More
- FKP PROPERTY GROUP
RBS Australia rates as Buy (1) - Target $0.72 (was $0.75). With residential markets remaining soft, the broker downgrades its earnings estimates, seeing FY12-14 EPS forecasts drop 3%, 4% and 9%. The Buy call is maintained on valuation grounds, but the broker is now very anxious to see the final outcome of the groups's recently announced retirement review, which it believes will be key to the stock's prospects in the near term. More
- WOOLWORTHS LIMITED
Citi rates as Buy (1) - The broker notes Woolworths is set to kick of its highly anticipated new Fresh Food People marketing campaign. Yet while Citi admits the campaign will be high profile, and may well influence overall sentiment, the broker is more interested to hear how the group will secure better terms from suppliers to offset weak sales. Buy call, target and forecasts are maintained. More
- NEWS CORPORATION
Deutsche Bank rates as Buy (1) - Higher Premier League rights have impacted on earnings forecasts for News but Deutsche makes no change in price target. While earnings growth will be lower given the higher costs the broker still sees the stock as offering value at current levels, so there is no change in Buy rating. More
- COCHLEAR LIMITED
UBS rates as Sell (5) - UBS notes implant failure data indicates a steady increase in device failures, the implied failure rate now more than 3.7% on the broker's numbers. Forecasts are unchanged on the news and the broker retains a Sell rating. More
- SARACEN MINERAL HOLDINGS LIMITED
BA-Merrill Lynch rates as Buy, Low Risk (1) - The broker notes acen's first results from trial mining and underground drilling look very encouraging, noting indications for significantly higher grades than previously defined. With BA-ML now seeing more upside to forecast grades and tonnes, the Buy call, target and forecasts are maintained. More
- RESMED INC
Credit Suisse rates as Neutral (3) - The broker notes the company has launched its new mandibular repositioning device and the broker thinks will eventually make some progress with this device. However, the near to mid term earnings impact is negligible, seeing no changes to the Neutral call, target and forecasts. More
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