Insights

Our Research Team spends a significant amount of time analysing and interpreting the investment environment. This includes developing views about broader economic factors, understanding industry conditions and identifying company specific factors.

Latest Research Insights

Our research contains a regular selection of insights that we gain from applying a methodical and analytical process to help identify potential investment opportunities. We trust you find them informative. 

Companies
Cash from Coles

Cash from Coles

26 February 2020

Wesfarmers reported a first-half FY20 net profit from continuing operations of $1.142bn (pre AASB 16* accounting), up 5.7% on the same period last year and above Ord Minnett’s $1.049bn forecast. A fully franked interim dividend of 75cps was declared...

Walter Watson

Walter Watson
Research Editor
Companies
Market Darling

Market Darling

20 February 2020

CSL Ltd (CSL) reported a first-half FY20 normalised net profit of US$1.248bn, up 7.5% on the same period last year and broadly in line with Ord Minnett’s forecast. A dividend of US95cps was declared, below our US99cps estimate. Revenue matched...

Walter Watson

Walter Watson
Research Editor
Banking
Capital Performance

Capital Performance

17 February 2020

Commonwealth Bank delivered a slightly better-than-expected first-half FY20 result, but the real positive was the bank’s much stronger capital position, which provides more fuel for capital management. Pre-provision profit was 1% ahead of...

Walter Watson

Walter Watson
Research Editor
Companies
Better Times Ahead

Better Times Ahead

12 February 2020

CIMIC Group reported an underlying profit of $800m, in line with guidance the company provided in late January, and so the result was broadly consistent with Ord Minnett’s forecast and consensus. Operating cash flow, however, saw a...

Walter Watson

Walter Watson
Research Editor
Companies
Not Just Sizzle

Not Just Sizzle

06 February 2020

Sezzle released a December-quarter update ahead of our expectations. Total transaction value (underlying merchant sales) of US$105.1m came in 3% above our forecast of US$101.7m. Active customer additions exceeded our forecasts while merchant...

Walter Watson

Walter Watson
Research Editor
Mining
Price Surprise

Price Surprise

30 January 2020

Rio Tinto released its December-quarter production report, which was generally in line with our forecast. Copper missed our estimate by 8%, however, due to lower Kennecott Utah Copper (KUC) grades, which fell from 0.64% last quarter to...

Walter Watson

Walter Watson
Research Editor
Mining
Falling Short

Falling Short

29 January 2020

BHP Group released its December-quarter production report. Other than copper, production volumes were softer than expected. Car dumper maintenance in the Pilbara affected output, although shipments ran at a 276Mtpa rate versus...

Walter Watson

Walter Watson
Research Editor
Companies
Flash the Plastic

Flash the Plastic

23 January 2020

Tyro Payments is a pure-play domestic payments company that has a best-in-class payments solution for its core market segments, known as verticals. Tyro has achieved 10% market share in its verticals, and we believe the company is primed...

Walter Watson

Walter Watson
Research Editor
Insurance
Costs Mount

Costs Mount

16 January 2020

Insurance Australia Group (IAG) and Suncorp (SUN) have provided initial estimates of claim costs from the Australian bushfires and an update on their reinsurance cover. IAG estimates natural perils costs for 1H20 at $400m post...

Walter Watson

Walter Watson
Research Editor
Companies
Hi-Def

Hi-Def

10 January 2020

Atomos designs and manufactures monitor-recorders, which can be added to existing video equipment to turn standard-definition cameras into high-resolution systems. The monitors can be added to phones, tablets or professional video...

Walter Watson

Walter Watson
Research Editor
Companies
Back to the Future

Back to the Future

08 January 2020

Chevron has indicated to Caltex it would terminate its licence agreement, including access to the Caltex and Vortex brands. This will occur over three years (including a six-month notice period, 18 months of exclusive use by Caltex, and...

Walter Watson

Walter Watson
Research Editor

2019 Research Insights

 

Companies
Fuel for Thought

Fuel for Thought

19 December 2019

Viva Energy Group announced unaudited CY19 RC* net profit guidance of $135–165m (versus $229m in CY18), in line with our $141m estimate, with group RC operating earnings (EBITDA) guidance of $625–655m ($770m CY18). CY19 volumes are...

Walter Watson

Walter Watson
Research Editor
Companies
Tunnel Vision

Tunnel Vision

17 December 2019

Lendlease Group recently stopped work for several days on two tunnel boring machines at the Melbourne Metro Tunnel as tensions escalated between the Victorian government and the construction consortium, of which Lendlease is a...

Walter Watson

Walter Watson
Research Editor
Banking
Kiwi Capital

Kiwi Capital

13 December 2019

The Reserve Bank of New Zealand (RBNZ) released its final capital rules following an extensive 12-month consultation process. Ord Minnett expected a modest softening of the rules and this was delivered, albeit the RBNZ allowed for more hybrids in...

Walter Watson

Walter Watson
Research Editor
Energy
Powering On

Powering On

10 December 2019

Ord Minnett has made a significant change to its valuation estimates across its energy and utilities coverage. We have lowered our risk-free rate to 2.5% (from 3.5%) and the inflation rate for costs and prices to 2.0% (from 2.5%), as in an environment where...

Walter Watson

Walter Watson
Research Editor
companies
O Canada

O Canada

05 December 2019

Canada-based convenience retailer Couche-Tard made a conditional, non-binding bid for Caltex Australia at $34.50 per share, which has since been rejected by Caltex on the basis that it undervalues the company. This follows an earlier proposal...

Walter Watson

Walter Watson
Research Editor
COMPANIES
Going to Scarborough Fair

Going to Scarborough Fair

26 November 2019

Woodside Petroleum held its annual investor briefing, which management noted it had purposely delayed to enable it to demonstrate the progress that had been made on the company’s key growth...

Walter Watson

Walter Watson
Research Editor
Banking
Looks Can Be Deceiving

Looks Can Be Deceiving

19 November 2019

Commonwealth Bank delivered a first-quarter FY20 cash net profit from continuing operations of $2.3bn, ahead of the run-rate required to hit Ord Minnett’s forecast of $4.48bn for 1H20. The first...

Walter Watson

Walter Watson
Research Editor
Banking
Raising Fears Allayed

Raising Fears Allayed

12 November 2019

National Australia Bank reported a second-half cash net profit from continuing operations of $2.143bn, 2% below Ord Minnett’s forecast and consensus. A fully franked final dividend of 83cps was declared, taking the full-year payout to...

Walter Watson

Walter Watson
Research Editor
Banking
Let’s Be Frank

Let’s Be Frank

04 November 2019

The second-half FY19 result from Australia and New Zealand Banking Group did not contain much good news, with pre-provision profit of $4.577bn missing Ord Minnett’s already below-consensus forecasts by 2% due to lower-than...

Walter Watson

Walter Watson
Research Editor
Companies
North American Appeal

North American Appeal

31 October 2019

James Hardie Industries’ share price has risen 64% in FY19 to date, versus the S&P/ASX 200 increase of 18%. Based on our revised estimates, however, we see further potential upside. We came away from...

Walter Watson

Walter Watson
Research Editor
Companies
Topping the Barrel

Topping the Barrel

28 October 2019

Treasury Wine Estates announced CEO Mike Clarke would retire in 12 months, having joined the company in March 2014. Clarke will return to the UK to spend time with family, although he will remain an adviser to the company for up to...

Walter Watson

Walter Watson
Research Editor
Mining
Preferred Pick

Preferred Pick

23 October 2019

Rio Tinto released its third-quarter 2019 production report. Iron ore shipments were solid, running at 341Mtpa, 8% ahead of our forecast which was conservative due rail maintenance that affected a small part of the quarter (from 25 September until...

Walter Watson

Walter Watson
Research Editor
Banking
Increased Numbers

Increased Numbers

15 October 2019

ANZ Bank will recognise a further $559m (post tax) in 2H19 specified charges related to fees and interest calculations and customer remediation. The majority of these costs ($405m) will be taken in continuing operations, and...

Walter Watson

Walter Watson
Research Editor
Companies
Smashing Sale

Smashing Sale

10 October 2019

Suncorp announced the sale of two motor repair businesses to AMA Group: A 90% stake in its Capital S.M.A.R.T. smash repair operation, valuing 100% of the business at $420m, whereby Suncorp will retain a 10% stake and a subsidiary board seat; and...

Walter Watson

Walter Watson
Research Editor
Banking
Sweeping In

Sweeping In

03 October 2019

National Australia Bank announced that Ross McEwan would commence as CEO and managing director on Monday, 2 December. McEwan resigned as CEO of Royal Bank of Scotland (RBS) on 25 April and was announced on 19 July as...

Walter Watson

Walter Watson
Research Editor
Companies
Drink Up

Drink Up

01 October 2019

Treasury Wine Estates recently hosted its 2019 investor day at a well-attended event in Adelaide. Guidance for growth in FY20 earnings before interest, tax and SGARA* (EBITS) of 15–20% was reiterated, but with a skew to the second half due to US...

Walter Watson

Walter Watson
Research Editor
Companies
Browse the Shelf

Browse the Shelf

25 September 2019

CY19 is an important year for Woodside Petroleum as it continues to negotiate with its joint venture (JV) partners to backfill the North West Shelf (NWS) facility with Browse gas and expand the Pluto plant with Scarborough gas. We estimate the...

Walter Watson

Walter Watson
Research Editor
Media & Entertainment
Changing Times

Changing Times

23 September 2019

Ord Minnett recently initiated coverage of Seven West Media with a Buy recommendation and a $0.65 target price. The television advertising market has been relatively stable for the past decade despite double-digit declines in other...

Walter Watson

Walter Watson
Research Editor
Media & Entertainment
Multimedia Player

Multimedia Player

20 September 2019

Ord Minnett recently initiated coverage of Nine Entertainment with a Buy recommendation and a $2.55 target price. The television advertising market has been relatively stable for the past decade despite...

Walter Watson

Walter Watson
Research Editor
Telecommunications
Static on the Network

Static on the Network

17 September 2019

We have updated our model for Telstra to incorporate the guidance update from the company following the release of the NBN FY20 corporate plan. We maintain our Accumulate rating with a $4.25 target price...

Walter Watson

Walter Watson
Research Editor
Mining
Digging It

Digging It

12 September 2019

Fortescue reported FY19 operating earnings of US$6.0bn and a net profit of US$3.2bn, both 5% ahead of consensus and in line with Ord Minnett’s forecasts. The company topped up its pre-declared dividend by 24cps, which was in line with...

Walter Watson

Walter Watson
Research Editor
Companies
Tapping Earnings Growth

Tapping Earnings Growth

03 September 2019

Reliance Worldwide reported an FY19 adjusted net profit of $152m, 1.3% below Ord Minnett’s forecast. Group operating earnings (EBITDA) of $263.2m were in line with our estimate and within the...

Walter Watson

Walter Watson
Research Editor
Mining
More Appeal

More Appeal

29 August 2019

BHP Group reported underlying earnings of US$9.1bn, in line with Ord Minnett’s US$9.2bn forecast but 3% below consensus. Net debt of $9.2bn was in line with market estimates and lower than our forecast. The company’s net debt target of...

Walter Watson

Walter Watson
Research Editor
Banking
Revenue Resilience

Revenue Resilience

27 August 2019

NAB delivered 3Q19 unaudited cash earnings of $1.65bn, up 1% on the quarterly average of 1H19 excluding remediation costs. This was broadly in line with the run-rate inferred from our previous 2H19 estimate of $3.343bn excluding one...

Walter Watson

Walter Watson
Research Editor
Companies
Worth Bottling

Worth Bottling

21 August 2019

CSL Ltd (CSL) reported a normalised net profit of US$1.919 billion, up 13% on FY18 and slightly below Ord Minnett’s forecast of $1.925 billion. A final dividend of US$1.00 per share was declared, taking the full-year payout to US$1.85 per share...

Walter Watson

Walter Watson
Research Editor
Companies
Milky Way

Milky Way

16 August 2019

The dramatic rise in demand from China has been transformational. The premiumisation trend is a key driver of demand for Australia and New Zealand (ANZ) product, with its ANZ provenance and usage resulting in market share...

Walter Watson

Walter Watson
Research Editor
Banking
Elephant in the Room

Elephant in the Room

13 August 2019

The second-half FY19 result from the Commonwealth Bank of Australia was weaker than Ord Minnett’s rebased forecasts, with cash net profit 3% below our numbers due to a similar-sized miss on costs. Stripping out one-off items put...

Walter Watson

Walter Watson
Research Editor
Companies
LNG Lift

LNG Lift

08 August 2019

Origin Energy released its fourth-quarter FY19 production report. The clear positive was the greater than expected distribution from the Australia Pacific LNG joint venture of $943m, versus guidance of $600–800m. This came primarily from lower capital...

Walter Watson

Walter Watson
Research Editor
Companies
Sleep Soundly

Sleep Soundly

06 August 2019

ResMed posted fourth-quarter FY19 adjusted EPS of US95c, 7% ahead of Ord Minnett’s estimate and 3% ahead of consensus due mainly to lower selling, general and administration costs. The result saw group revenue rise, due largely to...

Walter Watson

Walter Watson
Research Editor
Banking
Solid Start

Solid Start

02 August 2019

Macquarie Group held its 2019 AGM, where management announced the group had made a solid start to the year with 1Q20 net profit broadly in line with a year ago. Ord Minnett notes, however, that this outcome was delivered due to...

Walter Watson

Walter Watson
Research Editor
Banking
New Broom

New Broom

30 July 2019

National Australia Bank announced the appointment of Ross McEwan as its new CEO, which Ord Minnett expects to be well received by the market. McEwan is currently the outgoing CEO of the Royal Bank of Scotland (RBS) in...

Walter Watson

Walter Watson
Research Editor
Companies
Dividend Disappears

Dividend Disappears

26 July 2019

AMP recently advised the market that the sale of its AMP Life business, including both the Australian and New Zealand wealth protection and mature businesses, to Resolution Life was now highly unlikely to proceed on current terms. This was due...

Walter Watson

Walter Watson
Research Editor
Mining
Oyu Tolgoi Weighs

Oyu Tolgoi Weighs

24 July 2019

Rio Tinto recently released its June-quarter production report and also provided a significant update on the Oyu Tolgoi copper-gold project in Mongolia. The key focus of the production report was on Rio Tinto’s...

Walter Watson

Walter Watson
Research Editor
Companies
LNG Deflates Outlook

LNG Deflates Outlook

17 July 2019

Continued weakness in liquefied natural gas (LNG) markets has left Woodside facing a number of issues for its development projects, Scarborough and Browse, with internal rates of return that only just meet appropriate hurdle rates. CEO...

Walter Watson

Walter Watson
Research Editor
Banking
Paying the Price

Paying the Price

16 July 2019

The Australian Prudential Regulation Authority (APRA) has imposed $500m in additional capital requirements on each of ANZ Banking Group (ANZ, Hold), National Australia Bank (NAB, Accumulate) and Westpac Banking Corporation (WBC...

Walter Watson

Walter Watson
Research Editor
Companies
North to Alaska

North to Alaska

09 July 2019

Oil Search announced it will exercise its option over its existing Alaska assets, known as the ‘Armstrong option’, and indicated a resource upgrade would occur prior to front-end engineering design (FEED) following the analysis of recent...

Walter Watson

Walter Watson
Research Editor
Companies
Spread the Word

Spread the Word

02 July 2019

Whispir provides a cloud-based communications platform, known as Enterprise, that enables organisations to send two-way, multi-channel programmable communications. Ord Minnett has initiated coverage of Whispir...

Walter Watson

Walter Watson
Research Editor
Companies
A Good Education

A Good Education

27 June 2019

Charter Hall Education Trust is a social infrastructure real estate investment trust (REIT) with a $1.18bn portfolio of childcare centres located across Australia and New Zealand, and a robust development pipeline. It is the largest childcare...

Walter Watson

Walter Watson
Research Editor
Companies
UK A Blight

UK A Blight

25 June 2019

Link Administration is a provider of technology-based services, including fund administration, shareholder management and company secretarial, and IT systems maintenance, data management and digital communications, to companies...

Walter Watson

Walter Watson
Research Editor
Companies
Price Appeal

Price Appeal

18 June 2019

Star Entertainment Group released a trading update where the casino and hotel operator guided to operating earnings of $550–560m for FY19, representing a downgrade of 9% based on consensus expectations. Domestic headwinds...

Walter Watson

Walter Watson
Research Editor
Companies
Medium-term View

Medium-term View

13 June 2019

WorleyParsons provides consulting services across the engineering, procurement and construction, mining, chemicals and infrastructure sectors. The company recently hosted an upbeat investor day, clearly focusing on the opportunities...

Walter Watson

Walter Watson
Research Editor
Companies
CEO Exits

CEO Exits

07 June 2019

Suncorp announced Michael Cameron would be leaving his position as CEO, which he has held for three years, with immediate effect, although he will remain as an adviser to the business until 9 August. Group CFO Steve Johnston will be acting CEO until...

Walter Watson

Walter Watson
Research Editor
Companies
Accelerating Change

Accelerating Change

05 June 2019

Telstra updated its guidance around restructuring costs and asset impairment in light of good progress made on its T22 strategy. We have adjusted our earnings forecasts and downgraded our recommendation to Hold from...

Walter Watson

Walter Watson
Research Editor
Companies
Earnings Fizzle

Earnings Fizzle

30 May 2019

Incitec Pivot manufactures and distributes fertiliser products, industrial chemicals and explosives through its operations globally. In FY18, Asia Pacific represented 53% of group earnings before interest and tax (EBIT), while the Americas contributed...

Walter Watson

Walter Watson
Research Editor
Companies
Winning Ticket

Winning Ticket

28 May 2019

Aristocrat Leisure is a slot machine manufacturer with land-based operations in Australia/New Zealand, the Americas and other international segments, as well as a fast-growing digital division. Aristocrat reported a first-half FY19 net profit of...

Walter Watson

Walter Watson
Research Editor
BANKING
No Quick Remedy

No Quick Remedy

21 May 2019

Commonwealth Bank delivered a third-quarter FY19 cash net profit excluding notable items of $2,338bn, down 9% on the same period last year. The trading update was weak across the board, featuring soft underlying revenue trends, much...

Walter Watson

Walter Watson
Research Editor
BANKING
Subdued Outlook

Subdued Outlook

16 May 2019

Westpac Banking Corporation reported a first-half FY19 cash net profit of $3.296bn, down 14% on the same period last year and 1% below Ord Minnett’s forecast. A fully franked interim dividend of 94cps was declared...

Walter Watson

Walter Watson
Research Editor
BANKING
Retail Headwinds

Retail Headwinds

15 May 2019

The first-half FY19 result recently reported by ANZ Banking Group was very close to Ord Minnett’s forecasts at every line, with strength in the institutional business saving the blushes of an underperforming Australian retail banking division...

Walter Watson

Walter Watson
Research Editor
Banking
Dividend Downgrade

Dividend Downgrade

08 May 2019

The first-half FY19 result from National Australia Bank was in line with our expectations, with stronger-than-expected income from its markets division helping offset challenging conditions in its retail banking and wealth management...

Walter Watson

Walter Watson
Research Editor
Mining
Price Power

Price Power

30 April 2019

Fortescue Metals Group released its March-quarter production report. Shipments of 38Mt were lower than we expected due mainly to the impact from cyclones. The top end of FY19 guidance was trimmed by 3Mt, with a new range of...

Walter Watson

Walter Watson
Research Editor
Companies
Input Costs Impact

Input Costs Impact

23 April 2019

RISI published its world pulp monthly report for March 2019. Prices of northern bleached softwood kraft (NBSK) in the US - the industry's benchmark grade of pulp - continue to moderate and RISI has lowered its...

Walter Watson

Walter Watson
Research Editor
Energy
Wind Farm Economics

Wind Farm Economics

16 April 2019

Infigen Energy is a developer, owner and operator of wind and solar energy assets. The stock has derated materially over the past two years, with the share price falling 57% versus the S&P/ASX 200 rising 5%, driven mainly by ...

Walter Watson

Walter Watson
Research Editor
Mining
No Reward Offered

No Reward Offered

10 April 2019

BHP Group and Rio Tinto's focus on capital returns over reinvestment is leading to reduced capital expenditure versus historical levels, strong free cash flow yields and high shareholder distributions. We make the following observations ...

Walter Watson

Walter Watson
Research Editor
Banks
Playing the Piper

Playing the Piper

04 April 2019

Ord Minnett has reviewed its FY19 remediation cost forecasts for ANZ Banking Group (ANZ, Accumulate), Commonwealth Bank (CBA, Hold) and National Australia Bank (NAB, Accumulate) and Westpac Banking Corporation (WBC, Hold) ...

Walter Watson

Walter Watson
Research Editor
Companies
Building a War Chest

Building a War Chest

26 March 2019

InvoCare owns and operates funeral homes, cemeteries and crematoria in Australia, New Zealand and Singapore. The company has completed the institutional portion of its recently announced capital raising, resulting in gross proceeds of ...

Walter Watson

Walter Watson
Research Editor
Mining
Caving Choices At Carrapateena

Caving Choices At Carrapateena

22 March 2019

Ord Minnett has reviewed OZ Minerals’ proposal for a block cave expansion at its Carrapateena copper-gold project in South Australia. Based on our preliminary model, the expansion ...

Walter Watson

Walter Watson
Research Editor
Companies
Blood Money

Blood Money

15 March 2019

Despite weaker-than-expected sales growth from CSL's core plasma business in the first half of FY19, the group retained its clear market lead in 2018 as the largest supplier of plasma-derived therapies. Importantly, the results and commentary from...

Walter Watson

Walter Watson
Research Editor
MINING
View from the Top

View from the Top

13 March 2019

Ord Minnett recently attended the sell-side analyst forum hosted by Rio Tinto (RIO) CEO Jean-Sebastien Jacques and we highlight the key points from the discussions. We maintain our Hold recommendation on Rio Tinto and our target price of...

Walter Watson

Walter Watson
Research Editor
Companies
A Pallet(able) Choice

A Pallet(able) Choice

04 March 2019

Brambles recently reported its first-half FY19 result. An underlying net profit of US$326.7m came in 6.7% above our forecast, but was down 3.8% on the same period last year. This included an increased non-cash contribution from accounting...

Walter Watson

Walter Watson
Research Editor
Companies
Nice Package

Nice Package

01 March 2019

Amcor is a global packaging manufacturer with two key divisions flexibles and rigids. The flexibles business has operations in North America, Europe and the Asia Pacific region, and participates in the defensive food, healthcare, home and personal, and...

Walter Watson

Walter Watson
Research Editor
Companies
Big Mac

Big Mac

20 February 2019

Macquarie Group's third-quarter FY19 trading update and operational briefing were positive overall, and we note the following key points: Macquarie Infrastructure and Real Assets (MIRA) equity under management (EUM*) rose...

Walter Watson

Walter Watson
Research Editor
Companies
Capital Choices

Capital Choices

14 February 2019

Insurance Australia Group delivered a first-half FY19 insurance profit of $496m, in line with Ord Minnett’s forecast, reflecting benefits from the cycle and some cost savings. An interim dividend of 12cps was declared...

Walter Watson

Walter Watson
Research Editor
Banking
Retail Malaise

Retail Malaise

13 February 2019

Commonwealth Bank delivered a slightly weaker-than-expected first-half FY19 result due to soft revenue trends and an increase in bad and doubtful debts (BDD). Cash net profit from continuing operations of $4.676bn and revenue of...

Walter Watson

Walter Watson
Research Editor
Companies
Outage Impact

Outage Impact

08 February 2019

Incitec Pivot is a manufacturer of fertiliser and explosives products that operates across four divisions: Incitec Pivot Fertilisers, Southern Cross International, Dyno Nobel Americas and Dyno Nobel Asia Pacific. Its primary geographic exposures are...

Walter Watson

Walter Watson
Research Editor
Companies
Riding the Cloud

Riding the Cloud

06 February 2019

Ord Minnett has initiated coverage of NEXTDC with an Accumulate recommendation and a target price of $8.00. NEXTDC operates within the data storage segment, a growth area that stands to benefit from continued secular...

Walter Watson

Walter Watson
Research Editor
Mining
Hard Rock

Hard Rock

31 January 2019

Rio Tinto released its December-quarter CY18 production report and we noted the following key points: Pilbara iron ore shipments ran at a rate of 347Mt per annum in the quarter, in line with our forecast with CY18 output at 338Mt, up 2% on CY17...

Walter Watson

Walter Watson
Research Editor
Companies
Flow Fillip

Flow Fillip

24 January 2019

HUB24 announced underlying flows of $638m in the first quarter of FY19 and $755m in the second quarter, slightly ahead of our forecast and up strongly on the same period last year. The transition of $725m from Fitzpatricks Private Wealth...

Walter Watson

Walter Watson
Research Editor
Companies
Smooth Sailing

Smooth Sailing

22 January 2019

Austal has expanded its shipbuilding capacity and capabilities significantly over the past two years. In the past three months, the company has announced the award of a meaningful amount of work, which will extend...

Walter Watson

Walter Watson
Research Editor
Companies
Venture Options

Venture Options

15 January 2019

Boral, along with most of the building materials sector, underperformed the index significantly in 2018. In addition to softening macroeconomic data, investors have expressed concern on two fronts: 1) Boral’s guidance for FY19 remains...

Walter Watson

Walter Watson
Research Editor

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