0408 GMT - The performance of AMP's bank stops Jarden analysts from turning more positive on the stock despite some positive signs in the June half. With an unchanged neutral rating on the stock, the analysts like the acceleration in platforms and superannuation at the ASX-listed company, especially given softer industry flows. They also feel good about AMP's increased disclosures around its China business, which contributed about a third of group earnings. However, they tell clients in a note that pressure on the bank's net interest margin is a concern, with returns from the unit remaining a key issue. Jarden raises its target price 4.3% to 2.40 Australian dollars. Shares are up 4.1% at A$2.405. (stuart.condie@wsj.com)

0336 GMT - The potential for listings volumes to further decline under the weight of higher interest rates and changing tax concessions keeps Bell Potter bearish on REA Group. Analyst Michael Ardrey acknowledges that the News Corp-controlled real-estate advertiser's June-half performance beat consensus and his forecasts, but thinks that fiscal 2027 ad volumes could be weaker than anticipated. He says in a note that volumes in July--the first month of REA's fiscal year--were softer than he expected, not least considering the strong momentum seen in the June quarter. He keeps a sell rating on the stock and raises the target by 2.1% to 147.00 Australian dollars. Shares are up 1.3% at A$174.30. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)

0311 GMT - AMP's strong first-half performance across several key metrics supports growing confidence among bulls that it could keep buying back shares through 2027. With an unchanged buy rating on the stock, UBS analysts point to strong June-quarter wealth flows, margin expansion in both platforms and superannuation, and improved disclosure on the Australian financial-services provider's China operation. With AMP's interim dividend beating company guidance and the announcement of a 150 million Australian dollars second-half buyback, the analysts tell UBS clients that they now forecast A$300 million of buybacks across 2027, with potential room for more. UBS lifts its target price 2.4% to A$2.61. Shares are up 4.1% at A$2.405. (stuart.condie@wsj.com)

0259 GMT - UBS analysts remain optimistic about REA Group's ability to manage margins and capacity for potential capital management despite uncertainty over the property advertiser's listing volumes. Lucy Huang and Ailsa Lei highlight the News Corp-controlled company's tight cost control and the potential for AI-driven initiatives to support revenue growth at a higher rate than cost growth. However, they tell clients in a note that a backdrop of softer lead indicators and impending changes to property related tax concessions keeps them remain conservative on the outlook for listings through FY 2027 and into FY 2028. UBS keeps a neutral rating on the stock and raises its target price 4.1% to 177.00 Australian dollars. Shares are up 0.7% at A$173.20. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)

0258 GMT - The next era for Northern Star's KCGM operation will be "driven by efficiencies across processing, operating and energy" following its investment in a 27 million-metric-ton-per-annum gold-processing hub, UBS says. "The mills are currently commissioning on water and it looks set for a ramp-up from September," UBS says of the new hub. Consensus expectations for FY27 appear relatively conservative ahead of annual guidance, expected alongside FY26 results on Aug. 20, and a multi-year outlook expected around March 2027, UBS says. "Grades and recoveries are expected to be subdued during commissioning," it says. The bank forecasts KCGM output of 615,000 ounces at a cost of 2,770 Australian dollars an ounce in FY27. It has a buy rating and A$24.05 target on Northern Star shares. The stock is up 1.6% at A$22.55. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0244 GMT - REA Group's gets praise from Jarden analysts for its continued cost discipline. With an unchanged neutral rating on the stock, the analysts call out a slowdown in domestic operating cost growth as a highlight of the Australian property advertiser's annual result. They also like the renewed capital discipline shown by its increased dividend and A$200 million share buyback. However, they warn in a note that fiscal 2027 buy yield--a key measure of ad profitability--could hinge on News Corp-controlled REA's exposure to the currently underperforming Sydney and Melbourne markets. Target price rises 2.8% to 183.00 Australian dollars. Shares are up 0.5% at A$172.94. News Corp is the parent company of Dow Jones & Co., publisher of The Wall Street Journal and Dow Jones Newswires. (stuart.condie@wsj.com)

0222 GMT - Evolution Mining is poised for more copper growth in FY28-29, although it will require a step up in investment spending, says UBS. The bank sees rising copper volumes coming from both Northparkes and Ernest Henry. "Now awaiting guidance, we expect capex to step materially higher than EVN's former 5-year target of A$750 million-A$950 million [per annum] as it looks at various potential expansions," UBS says. It forecasts FY27 capex of A$1.3 billion. The bank raises its share-price target to A$13.00 from A$12.00 to reflect increased expected mine life and output at some operations. It keeps a neutral rating. "Next catalysts are the FY27 guidance in two weeks and September site visits" to Cowal and Ernest Henry, UBS says. Shares are up 1.8% at 13.23 Australian dollars. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0042 GMT - Furniture retailer Nick Scali's recent trading is better than Jefferies feared. Written sales orders were flat in the first five weeks of FY27, albeit with a new-store tailwind. Analyst Naveed Fazal Bawa notes Nick Scali was cycling high-single-digit growth a year ago and the sales trend represents an improvement on a 3.6% fall in 2H of FY26. Consensus forecasts are for a 4.4% sales fall in 1H of FY27. Jefferies adds Nick Scali's gross margin in Australia and New Zealand is solid, and better-than-expected in the U.K. "We have confidence in management's ability to deliver but have questions on sustainability of gross margin and outlook, given weaker macro backdrop," Jefferies says. It had a hold call and A$15.00/share price target on Nick Scali ahead of today's result. (david.winning@wsj.com; @dwinningWSJ)

0031 GMT - Charter Hall Retail REIT's profit guidance is better than Jefferies expected. The Australian mall owner points to FY 2027 operating earnings of at least 27.3 Australian cents/unit. That implies minimum growth of 3.5% on FY 2026. Jefferies had forecast an FY 2027 outcome of 26.9 Australian cents/unit, and notes it's also a slight beat to consensus forecasts. Charter Hall Retail REIT's distribution guidance of 26.4 Australian cents/unit is also ahead of market hopes. "We would expect minor positive consensus earnings revisions following today's results," says analyst Andrew Dodds. He rated Charter Hall Retail REIT a buy with a A$4.22 price target ahead of the result. Charter Hall Retail REIT is up 1.7% at A$4.13. (david.winning@wsj.com; @dwinningWSJ)

0023 GMT - Citi urges investors to be cautious when reading furniture retailer Nick Scali's trading update for its Australia and New Zealand business. Nick Scali's written sales orders were flat in the first five weeks of FY 2027. The retailer points out this performance measures up against high-single digit growth a year ago. Citi says this appears positive at first glance, noting 1H consensus expectations are for a 4% fall in like-for-like sales. However, Nick Scali's update isn't a reflection of same-store sales. Analyst Sam Teeger notes new store growth was 5% over this period, with four stores opening in FY 2026 and 1.5 in July. Citi had a neutral call on Nick Scali ahead of its FY 2026 result and trading update. Nick Scali is down 1.1% at A$17.04. (david.winning@wsj.com; @dwinningWSJ)

2314 GMT - Australian wealth manager AMP's China businesses are now too big to ignore, Jefferies says. AMP has partnerships including a 20% stake in China Life Pension Co. (CLPC) and a roughly 15% stake in China Life AMP Asset Management Co. (CLAMP), which sells investment products in China. In 1H, the earnings contribution of these partnerships more than doubled to A$56 million. AMP's CEO said this growth was supported by higher retirement savings and pensions in China. Jefferies analyst Simon Fitzgerald notes CLPC's assets under management now total around 2.6 trillion yuan and the combined annualized partnership return on investment rose to 16%, from 9%. "The uplift looks increasingly structural, supported by CLPC operating leverage and a 41% payout ratio," Jefferies says. Its price target rises 23%, to A$2.55/share. AMP ended Thursday at A$2.31. (david.winning@wsj.com; @dwinningWSJ)

2304 GMT - RBC Capital Markets expects James Hardie shares to react positively to its 1Q results, which include an upgrade to FY27 guidance. "Management noted it is not assuming a housing market improvement, but that its performance and growth expectations support raising its full-year outlook," says RBC. Yet the broker, which has a sector perform rating on the stock, remains slightly cautious. It expects "questions about evolving margin guidance, the implied guide for H2/27, and any impacts of load-in associated with new distribution relationships to be topical on the call today." RBC has a A$37.00 target on the company's Sydney-listed shares. The stock ended Thursday at A$40.82. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2258 GMT - The focus of Eagers Automotive's 1H result will be on vehicle availability and the speed at which it converts a larger order book to sales in 2H, says Jefferies. Eagers has faced issues regarding the supply of BYD vehicles, which analyst John Campbell says was mainly the result of the Chinese auto manufacturer ramping up sales in Australia. Those issues now appear to be fixed. Separately, Toyota said output in Japan is likely to rise to 3.45 million units in its FY27, some 3% higher than earlier guidance. "This suggests Australian supply should improve over the course of 2026," Jefferies says. It retains a buy call and A$27.50/share price target on Eagers, which ended Thursday at A$24.23. (david.winning@wsj.com; @dwinningWSJ)

0929 GMT - Glencore's planned secondary listing in Australia could set the scene for large M&A deals, BofA analysts write. This is because the listing might make the country's investors more familiar with the commodity giant, they say. Large-cap miners BHP and Rio Tinto are currently listed in Australia on the Australian Securities Exchange, or ASX. Glencore's shares trade flat at 573.7 pence.(adam.whittaker@wsj.com)

0659 GMT - Toll-road operator Transurban keeps its trim rating at Morgans, where analyst Nathan Lead looks to another Australian infrastructure stock for potential clues on valuation. Lead continues to lean bearish on the stock but stops short of implementing a sell recommendation. He tells clients in a note that he largely agrees with Transurban's assessment that toll overhauls in New South Wales state are value neutral. However, he sees earnings growth constrained by weakness in its Melbourne assets, and thinks that interest costs will rise quicker than consensus expects. He believes dividends could grow at a similar rate to those at pipeline operator APA. Lead adds that a rerating to APA's yield would price Transurban's stock at about 12 Australian dollars. Morgans cuts its target price 0.9% to A$12.63. Shares closed 0.75% lower at A$14.59. (stuart.condie@wsj.com)

0620 GMT - Telstra's bears at Jarden think investors should ask more questions about the long-term durability of the Australian telco's ability to derive a premium for its superior network coverage. With an unchanged underweight rating on the stock, analysts Liam Robertson and Charles Strong tell clients in a note that the stock trades as a long-duration claim on the persistence of this pricing premium. However, they contend that the emergence of satellite services and potential regulatory moves could challenge this. This could lead the market to demand a modestly higher yield from Telstra, they reckon. Jarden has an unchanged target price of 4.60 Australian dollars. Shares are down 0.4% at A$4.98.