HMC’s unlisted Last Mile Logistics fund has been launched with a target first close of $500m by mid 2023 and an initial seed asset acquired. AUM guidance of +$10bn by end of 2024 remains on track (was $5.8bn at June). FY23 DPS guidance of 12c has be....

While hopeful of a China growth recovery, which would be positive for steel/iron ore demand, we are less comfortable with the equity market already moving to price in the recovery before it unfolds. This has undermined our conviction in the upside o....

Following a review of our research universe, we discontinue coverage of Viva Energy Group (VEA AU). Our forecasts, target price and recommendation should no longer be relied upon for investment decisions.  

ASX has released its monthly trading activity report for November 2022. It was broadly a softer trading month for the ASX, in our view, with weaker cash equities volumes and significantly lower capital raisings versus the pcp, offset to a degree by.....

BPT has performed strongly over the last month, outperforming the ASX200 by more than 6%. At the same time, it faces competition for its WGO acquisition and its contractor for the Waitsia project is in administration. We downgrade our rating to HOLD....

We have updated our earnings model following the recent exercise of the put option over the remaining shares in German joint venture and the associated announcement of a $165m equity raise. We increase our EPS estimates by 1% in FY23 and 2% in FY24.....