The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.
0218 GMT - Westgold Resources could deliver production rates above consensus and ongoing capital returns via both buybacks and dividends, says UBS, which initiates coverage of the stock with a buy rating. It puts a A$10.25 target on Westgold's shares. The gold miner seems poised for steady growth, says UBS, which expects there will be a good business case to expand Higginsville further, to four million metric tons per annum. UBS also reckons there's more value to be found in its noncore asset sales, although "the exact quantum is unclear." Westgold is down 2.4% at A$5.25. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0212 GMT - Li Ning's store-related expenses may increase on year in 2026, due to its possible opening of more direct retail stores, Citi analysts Xiaopo Wei says in a note. The analyst notes that the Chinese sportswear-apparel company's 2025 net was 9% above consensus due lower-than-expected selling costs. The company's balance sheet remains strong with a net cash of CNY20 billion as at end-2025. Citi points to the increase in cash conversion cycle by two days on year to 37 days. Citi has a buy rating on its shares, which are up 8.8%. (venkat.pr@wsj.com)
0126 GMT - Thaifoods Group's short- and long-term business outlook appears solid, UOB Kay Hian analysts say in a research report. It has shifted its strategy from a production-driven company to adopting a market-driven approach to reduce exposure to volatility in commodity prices, the analysts say. The Thai company's retail segment is a key growth driver, with it planning to increase retail store count to 1,000 within the next two-three years from nearly 700 branches currently. Earnings of the producer and distributor of food products are likely to improve on quarter in 1Q, supported by an increase in gross profit margin due to higher livestock prices. The brokerage raises the stock's target price to THB7.80 from THB6.50, with an unchanged buy rating. Shares last closed at THB7.15. (ronnie.harui@wsj.com)
0124 GMT - CK Hutchison's well-diversified business portfolio is likely to continue generating stable cash flow, say Citi analysts in a note. The portfolio is spread across geographies and segments, which helps the conglomerate reduce inherent risks and navigate volatility, they say. While the port business' throughput is likely to slow amid geopolitical tensions, the company expects this to be offset by retail and infrastructure segments' earnings growth, the analysts note. Citi raises its estimated net-asset value on CK Hutchison to HK$150.44 from HK$147.47 to reflect operating trends, and expects the stock's discount to NAV to narrow if the company unlocks value through mergers and acquisitions. Citi retains its buy rating and HK$78.00 target price. Shares last closed at HK$59.95. (megan.cheah@wsj.com)
0030 GMT - Ricegrowers' bull at Bell Potter sees the current unfavorable seasonal factors presenting an opportunity for investors to accumulate stock. Analyst Jonathan Snape tells clients that current low levels of storage utilization around Australia's Southern Murray-Darling Basin and the rising risk of drier conditions through 2H 2026 suggest two consecutive poor cropping outcomes. Yet he remains constructive on Ricegrowers' ability to drive earnings growth, and sees global price indicators hinting at an improved position relative to 2026 domestic contract prices. Bell Potter cuts its target price 9.3% to A$17.00 and keeps a buy rating on the stock, which is down 0.2% at A$12.20. (stuart.condie@wsj.com)
0019 GMT - Propel Funeral Partners keeps its bull at Bell Potter despite weaker-than-expected 1H revenue. The Australian funeral provider's average revenue per funeral was softer than analyst Chami Ratnapala had anticipated, but she retains a buy rating on factors including an ageing population. She sees the ageing of Australia's baby boomers as a sizeable volume catalyst from 2026 onwards. Ratnapala also flags the company's commentary regarding its M&A pipeline and views a trading update due in May as a potential share-price catalyst. Bell Potter cuts its target price 15% to A$15.00. Shares are down 0.6% at A$4.115. (stuart.condie@wsj.com)
2349 GMT - REA Group's higher-than-forecast price increases are seen by its bull at Citi as reducing downside risk from any listings softness from rate hikes and broader macroeconomic weakness. Analyst Siraj Ahmed tells clients in a note that the Australian real-estate advertiser's proposed 8%-10% price rises compare with his prior expectation of a 7% increase. The move should also ease investor concerns that the News Corp-controlled company's pricing power could be hit by a resurgence at CoStar-owned rival Domain. Citi has a buy rating and A$199.00 target price on the stock, which is up 0.8% at A$159.88. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)
2332 GMT - Premier Investments' 1H earnings look decent to RBC analyst Michael Toner given soft retail conditions. Toner tells clients in a note that the Australian retail conglomerate's earnings were in line with his forecast once significant items were stripped out. Gross margins missed his forecast by 40 bps, he adds. Positively, he thinks that full-year earnings guidance implies an improvement in trading momentum. He forecasts 7.0% 2H sales growth for Premier's Peter Alexander sleepwear brand. RBC has a last-published neutral rating and A$12.52 target price on the stock, which is up 7.3% at A$13.43. (stuart.condie@wsj.com)
2323 GMT - Premier Investments' appointment of a permanent boss for its laboring stationery business is encouraging, Citi analyst Adrian Lemme says. He tells clients in a note that focus at the Smiggle chain had drifted toward customers even younger than its core 6-12 year-old audience, and welcomes the appointment of Georgia Chewing to lead a reset. He observes that weakness in Smiggle's first-half sales was driven by an 8.7% reduction in store numbers ahead of its inventory reset through the second half. Lemme tells clients that he currently forecasts a 4% drop in second-half Smiggle sales. Citi has a "neutral" rating and A$16.70 target price on the stock, which is up 7.4%, at A$13.45. (stuart.condie@wsj.com)
2223 GMT - FedEx is expecting the net fuel impact from the conflict in Iran to be "relatively muted" in its main Express business during the current fourth quarter, Chief Executive Raj Subramaniam tells analysts. FedEx considers fuel costs in its pricing strategy. "We update our fuel surcharges weekly based on the current fuel price," he says. Fuel surcharges are indexed to the fuel prices published by the Energy Department, which allows FedEx to protect profitability during periods of volatility, he adds. The shipping company also reduced jet and vehicle fuel usage internationally in the third quarter to address global trade policy changes, Subramaniam says. Shares gain 8.7% rising to $387.10 after hours. (katherine.hamilton@wsj.com)
2211 GMT - Australian stocks look set to extend their losses in early trade and stay on course for a third straight weekly decline. Local stock futures are down by 0.1% ahead of Friday's session, suggesting that the S&P/ASX 200 will follow U.S. equities lower amid continued worries about the impact of the Iran conflict on the global economy. The Australian benchmark index is coming off a 1.7% drop and is 1.4% lower so far this week. It has dropped 7.6% in March. Ahead of the open, retailer Premier Investments restored its interim dividend and flagged turnaround plans for its Smiggle stationery business. In the U.S., the DJIA slipped 0.4%, the S&P 500 fell 0.3%, and the Nasdaq Composite lost 0.3%.(stuart.condie@wsj.com)
2209 GMT - Australian transport stocks are likely to trade on a near-term discount because of concerns around diesel availability, Ord Minnett says. It notes some 2.7 billion liters of diesel are consumed in the country each month. "An arbitrary 1% increase in the market risk premium due to fuel supply issues would (all else equal) reduce discounted cash flow valuations by 11.2% for Qube, 11.4% for Freightways, 15.2% for Mainfreight and 15.2% for Lindsay Australia," analyst Ian Munro says. Australia's supply of diesel is heavily concentrated in Asia. South Korea, Singapore, Malaysia, Taiwan, and Brunei account for nearly 80% of imported diesel. "We note that these countries are heavy refining countries, with a heavy exposure to the Middle East for their crude supplies," Ord Minnett says. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 19, 2026 22:18 ET (02:18 GMT)
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