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Welcome to our live coverage of the ASX for Thursday, August 28. We’re piloting this new format with an emphasis on a high volume of pre-market posts and regular updates throughout the trading day, concluding around 2:00 pm AEST. Please refresh the page manually for the latest information, and share your feedback to help us improve.
Brokers: Upgrades and Downgrades
[8:37 am] Here are key broker updates from this morning. Notably, Lovisa experienced downgrades following a significant rally, with Wisetech receiving downgrades due to guidance misses for FY25 and FY26, and Woolworths facing similar setbacks after a disappointing FY25 result and trading update.
- Flight Centre: Upgraded to Outperform from Sector Perform; target raised to $16 from $15 (RBC)
- Lovisa Holdings: Downgraded to Equal-weight from Overweight; target increased to $42 from $35 (MS)
- Lovisa Holdings: Downgraded to Neutral from Outperform; target raised to $40.90 from $33.40 (MQG)
- National Australia Bank: Upgraded to Overweight from Equal-weight; target lifted to $42.50 from $39.80 (MS)
- Nine Entertainment: Downgraded to Neutral from Buy; target reduced to $1.75 from $1.80 (GS)
- Sigma Healthcare: Upgraded to Hold from Sell; target raised to $2.85 from $2.00 (BP)
- Supply Network: Downgraded to Neutral from Positive; target increased to $35.38 from $35.06 (E&P)
- Tabcorp: Upgraded to Positive from Neutral; target raised to $1.04 from $0.73 (E&P)
- WiseTech Global: Downgraded to Neutral from Positive; target cut to $123 from $142 (E&P)
- WiseTech Global: Downgraded to Sector Perform from Outperform; target lowered to $120 from $130 (RBC)
- Woolworths Group: Downgraded to Equal-weight from Overweight; target reduced to $30.50 from $33.40 (MS)
- Woolworths Group: Downgraded to Neutral from Outperform; target adjusted to $30.30 from $33.40 (MQG)
A Key Day for Earnings Reports
[8:35 am] Today marks a significant day for FY25 results, featuring a number of important earnings releases:
- Large Cap Earnings: Atlas Arteria (ALX), Dicker Data (DDR), Eagers Automotive (APE), Fineos (FCL), Generation Development Group (GDG), Harvey Norman (HVN), IGO (IGO), IDP Education (IEL), Lynas (LYC), Medibank (MPL), Nickel Industries (NIC), Paladin Energy (PDN), Perpetual (PPT), Perseus (PRU), Qantas (QAN), Ramsay Healthcare (RHC), Sandfire Resources (SFR), SmartGroup (SIQ), South32 (S32), TPG Telecom (TPG), Wesfarmers (WES).
- Small-to-Mid Cap Earnings: Airtasker (ART), Appen (APX), Australian Ethical (AEF), Beacon Lighting (BLX), Betr Entertainment (BBT), Botanix Pharmaceuticals (BOT), Clinuvel Pharmaceuticals (CUV), Horizon Oil (HZN), Impedimed (IPD), Lifestyle Communities (LIC), Metal Powder Works (MPW), Omni Bridgeway (OBL), Orthocell (OCC), Resimac (RMC), Solvar (SVR), The Star (SGR), Titomic (TTT), Trajan Group (TRJ).
Greetings!
[8:34 am] ASX 200 futures are up 3 points (+0.03%) following a relatively uneventful overnight session in which the S&P 500 gained 0.24%, achieving another all-time high.
If you’re new to our blog, catch up quickly with today’s Morning Wrap.
