1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Morningstar says that Macquarie’s bid for Qube is likely to succeed... with the offer price 30% above fair value.
Moreover, the board’s intention to unanimously recommend the deal testifies to the strength of the offer according to Adrian Atkins, an analyst at Morningstar.
But Jefferies has actually cut its target prices on multiple ASX-listed insurers... anticipating a softening premium cycle.
The broker has flagged a declining premium growth, and competitive bidding in commercial lines... it adds that QBE would be most exposed given its global footprint.
As a result, Jefferies has cut its target price on QBE Insurance to $24.55
Meanwhile - Morningstar's analyst Mark Taylor says that weak lithium prices and debt fears over Mineral Resources have led to a subdued share price... and that this present an opportunity.
The Morningstar analyst expects prices to nearly double to US$15,000 per metric ton by the end fiscal 2027. He points to Electric Vehicles demand as a tailwinds.
Elsewhere... Morgans has upgraded Megaport to a 'buy'... following a $200 million capital raising, a share purchase plan, a cloud-service acquisition, and Megaport's expansion into India...
Attached to its 'buy' rating...Morgans has a $17 target price on the stock.
And Looking at plumbing manufacturer Reece... Morningstar expects weakness in the residential sector to weigh negatively on revenue in FY26... but sees a demand revival from fiscal 2027 amid expected interest rate cuts.
Morningstar still says the stock is "overvalued" at current prices, and has a $10 price target.
