Northern Star's FY27 guidance is softer than consensus, but better than the market feared, says Barrenjoey. "Of course NST has had a poor recent history of meeting guidance, so management will need to convince market this is credible," Barrenjoey says. Production guidance of 1.50 million to 1.65 million ounces, at its midpoint, is 2% below consensus. All-in sustaining cost guidance, at A$3,050-A$3,450/ounce, is 8% above consensus. A growth capital expenditure estimate of A$1.70 billion to A$2.02 billion is 4% below consensus. Barrenjoey has a neutral rating and A$26.50/share target on Northern Star. Shares ended Wednesday at A$22.54.