0356 GMT - Domino's Pizza Enterprises' bear at Morgan Stanley sees weakness in same-store sales as evidence of how price changes can hit demand. Reiterating an underperform rating on the stock, analyst Melinda K. Baxter tells clients in a note that volume losses raise doubts over the Australian fast-food franchiser's pathway to higher profits. She acknowledges its efforts to rebuild margins and cut costs, but continues to forecast fiscal 2026 profit below the company's guidance range. MS cuts its target price by 0.7% to A$15.20. Shares are up 9.0% at A$21.01. (stuart.condie@wsj.com)

0340 GMT - Cettire's bear at RBC Capital Markets warns that shrinking sales risk further unwinding the luxury goods retailer's working capital. The Australia-listed company says it expects full-year revenue to be broadly flat but analyst Wei-Weng Chen points out that its FY 3Q is off to a slow start. March-quarter sales to date are down 13% on year, compared with RBC's forecast of a 1.9% rise over the June half. Worryingly, Cettire's auditor has flagged material uncertainty over Cettire's ability to continue as a going concern. Chen observes that Cettire is working to mitigate the uncertainty, but worries persist. RBC has a last-published underperform rating and A$0.20 target price on the stock, which is down 26% at A$0.335. (stuart.condie@wsj.com)

0220 GMT - Morgan Stanley suggests investors should curb their enthusiasm a little following supermarket chain Woolworths's 1H result. Woolworths shares rise 0.8% to A$35.93 today, building on Thursday's 13% gain. Woolworths's 1H EBIT beats consensus expectations, reflecting better-than-expected sales in its Australian food business and stronger margins. MS raises its FY 2026-2028 estimates by 4-5%, driven by Australian food and the Big W discount department store business. "While improving trading is a key positive out of the result, we maintain caution around the longevity of the topline momentum, noting upside risk to price investment, removal of cycling benefits from industrial action, and elevated competition notably in ecommerce," analyst Melinda K. Baxter says. (david.winning@wsj.com; @dwinningWSJ)

0149 GMT - Qantas's mix of shareholder returns surprises Jefferies somewhat. The airline announced A$450 million of returns, comprising a 19.8 Australian cent/share base dividend that amounts to A$300 million and a share buyback of up to A$150 million. Analyst Anthony Moulder didn't foresee the switch to a buyback. Still, it suggests that Qantas sees its share price as continuing to significantly undervalue the company. "The strength of the balance sheet allows for some increase in the base dividend, despite the expected step-up in FY 2027 capex expectations," Jefferies adds. Qantas falls 7.3% to A$9.87 today. Jefferies had a buy call and A$13.27/share price target on its stock ahead of the 1H result. (david.winning@wsj.com; @dwinningWSJ)

0142 GMT - The share price of Super Retail Group jumps 8.5% to A$15.26 on signs of a recent acceleration in sales. Super Retail said like-for-like sales rose 3.5% in weeks 27-34 of FY 2026, improving modestly on implied growth of 2.7% in weeks 17-26, says Jefferies analyst Michael Simotas. What's encouraging is that Super Retail had to beat stronger sales at this point a year ago. Jefferies says Boxing Day shifting close to end-1H probably helped the trading update slightly. "Early 2H sales trends generally solid, and slightly ahead of implied consensus run rate, except Rebel, which may have been affected by stock availability," Jefferies says. Rebel is Super Retail's sports equipment and clothing chain. Jefferies had a hold call and A$16.00/share price target on Super Retail ahead of its 1H result. (david.winning@wsj.com; @dwinningWSJ)

0138 GMT - Ramsay Health Care's 1H result and outlook give its share price a shot in the arm. Ramsay rises 11% to A$42.21, putting the stock on course for its best close since October 2024. Ramsay's 1H revenue of A$9.38 billion beat Jefferies's forecast by 3.1%, while normalized net profit of A$172 million was some 15% ahead of consensus expectations. "FY26 outlook remains for volume growth, but this will be negatively impacted by price," says analyst David Stanton. Jefferies had a hold call and A$34.20/share price target on Ramsay Health Care ahead of today's result. (david.winning@wsj.com; @dwinningWSJ)

0046 GMT - Nine Entertainment's bull at Morgan Stanley thinks that the Australian media conglomerate's acquisition of outdoor advertiser QMS might be a rare case of a media deal that creates shareholder value. Keeping an outperform rating on the stock, analyst Andrew McLeod tells clients in a note that MS analysis and early feedback from industry channels are both positive. He writes that advertisers and media buyers support the logic of combining Nine's existing platforms with QMS. He doesn't anticipate a step-change in QMS's growth, but thinks that the combination could keep it growing for longer. McLeod wonders whether this might give investors confidence to apply a higher earnings multiple to Nine's shares. MS cuts its target price 26% to A$1.40. Shares are down 0.9% at A$1.055. (stuart.condie@wsj.com)

0032 GMT - WiseTech Global's cost cuts help keep its bull at UBS onside despite moderated medium-term expectations for the logistics software provider's Container Transport Optimisation product. Analyst Siraj Ahmed tells clients in a note that management commentary suggests the complexity and newness of the product concept means more time will be needed to drive broader adoption. He still sees it as a meaningful longer-term growth, but lowers his FY 2030 revenue forecast for the unit to $270 million from $600 million. More positively, Ahmed assumes $200 million of costs will be removed by FY 2027 as WiseTech cuts a workforce that trebled in size over three years. Citi keeps a buy rating on the stock and lowers its target price 23% to A$89.00. Shares are up 5.3% at A$50.29. (stuart.condie@wsj.com)

0021 GMT - WiseTech Global's bulls at Macquarie think that savings generated by the logistics-software provider's job cuts buys it time to accelerate revenue. Keeping an outperform rating on the stock, analysts at the investment bank tell clients in a note that the Australian company could even extract further costs following the removal of 29% of its workforce. They point out that the consulting business WiseTech acquired through its takeover of E2Open reported negative earnings in FY 2025. The analysts hint that this could be targeted as WiseTech shifts to recurring revenues and external partners. Macquarie lifts its target price 3.9% to A$97.70. Shares are up 5.9% at A$50.56. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 25, 2026 23:00 ET (04:00 GMT)

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