Lovisa Holdings, an Australian jewelry retailer, is witnessing an optimistic shift in its market perception.

Citi analysts have improved the company’s rating and target share price, going from a ‘sell’ to ‘neutral’, and raising the target to A$22.30 from A$16.00.

The company’s FY23 Net Profit After Tax (NPAT) saw a growth of 20.1%, amounting to A$68.2 million, due to cost pass-on to customers and growth of the company’s store network.

Their FY24 store expansion expectations are under review, with Citi predicting around 976 stores by FY24, up from 801 in FY23.

Nonetheless, the immediate future of store rollouts is perceived with caution.

However, Citi does expect an upswing in like-for-like sales during the rest of 1H24.

Thanks to better than expected cost management, FY24 and FY25 NPAT estimations have been increased respectively by 5% and 12%.

With 9 of 13 analysts rating Lovisa a ‘buy’ or higher, the median price target is at A$25.25 according to Refinitiv data.

Lovisa Holdings (ASX:LOV) is an Australian-based retailer specializing in fashion-forward jewelry and accessories.

Citi analysts have lowered the Price Target on Australia’s Whitehaven Coal (ASX:WHC) to A$7.60/share, down from A$7.80/share.

Last Thursday, Whitehaven forecast a weaker-than-anticipated annual managed coal output for FY24, simultaneously suspending its share buy-back program.

Citi has accordingly reduced their FY24 and FY25 EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) estimates for the nation’s biggest independent coal miner by 23% and 15%, respectively.

This revision in earnings comes in light of lower production and increased costs.

According to Refinitiv data, out of 12 analysts, five rate the stock ‘buy’ or higher, another five rate it ‘hold’ and two analysts rate it ‘sell’; their median Price Target is A$7.60.

As of the last close, Whitehaven’s stock has seen a substantial drop of 26.5% this year.

Whitehaven Coal (ASX:WHC) is Australia’s largest independent coal miner.

Canaccord Genuity analysts have slightly decreased the price target on Australia’s travel and leisure firm, Experience Co (ASX:EXP), to A$0.33/share from A$0.34/share.

The brokerage anticipates a full recovery is still in the offing for the company.

The brokerage finds it particularly difficult to accurately forecast the resumption of inbound tourism in Australia.

Financial year 2024 EBITDA expectations have also been reduced, ranging from 7%-12%.

To date this year, the company’s stock has increased by 4.4% as of the last closing.

Experience Co is an Australia based travel and leisure company.

Wesfarmers (ASX:WES) has declared a final dividend of 103 AU cents per share for this financial year, as opposed to the earlier figure of 191 cents.

The company anticipates the launch of its lithium business, with the commencement of production and sale of spodumene concentrate slated for financial year 2024.

Factors such as escalated inflation and higher interest rates is predicted to continue impacting demand in certain sections of the Australian economy.

Wesfarmers (ASX:WES) also expects steady sales growth for Kmart Group for the first seven weeks of 2024.

However, the cost pressure in Australia and New Zealand continue to be a concern.

The bunnings' sales for the first seven weeks of the 2024 financial year is expected to align with the second half of the 2023 financial year.

OfficeWorks' sales for the first seven weeks were reportedly in tune with the previous year.

Wesfarmers (ASX:WES) is focusing on its lithium business, with first earnings expected in the second half of the 2024 fiscal year, post the completion of the construction at Mt Holland lithium mine and concentrator.

In terms of expenditure, the company estimates a net capital expenditure between A$1,100 million and A$1,400 million for the 2024 financial year.

Trading performance at Target is expected to remain steady in H1 of 2024, similar to trends observed in H2 of 2023.

Furthermore, Wesfarmers (ASX:WES) predicts that WesCEF’s share of sales volumes for 2024 might be 50 kilotonnes based on the assumed lithium oxide grade of 5.5 per cent.

On a side note, the concentrator’s commissioning is underway ahead of the first expected earnings from the project in the first half of 2024.

Wesfarmers is a prominent retail conglomerate headquartered in Australia, it operates various retail chains and has diverse business interests, including in lithium mining.

Canaccord Genuity has trimmed the price target for Northern Star (ASX:NST) following the firm’s announcement of substantial shutdowns planned across all its production facilities.

The brokerage reduced its target price to A$14.10 from the original A$14.75 but maintained its ‘buy’ rating.

Northern Star, a gold mining company, posted an underlying net profit after taxes of A$301 million, a figure in sync with the Visible Alpha consensus estimate.

The firm has scheduled major shutdowns across its trio of production hubs in September 2023.

Canaccord Genuity has also increased its projection for Northern Star’s underlying free cash flow for fiscal year 2024 to A$228 million from the initial A$144 million.

Among 14 analysts, seven rate the stock as ‘buy’ or higher, six recommend ‘hold,’ and one suggests ‘sell,’ with a median price target of A$12.80.

To date, the stock has ascended by 2.3% for the year, as noted at the last close.

Northern Star is a gold mining company with production centers across multiple locations.

Citi analysts have reduced their price target on Australia’s Perpetual (ASX:PPT) from A$30/share to A$24.80/share.

The firm’s stock rating has also been shifted from ‘buy’ to ‘neutral’.

The earnings contribution from Pendal (ASX:PDL), a firm recently acquired by Perpetual, was significantly lower than last year, causing this reduction.

Although the brokerage is not convinced that a turnaround in the stock’s value is imminent, the firm’s FY25 EPS expectations have been further reduced by 25%.

Despite these changes, out of eleven analysts, nine rate Perpetual (ASX:PPT) as ‘buy’ or higher and two rate it as ‘hold’, with a median price target of A$29.75 according to Refinitiv data.

The company’s shares have dwindled 4% this year as of the most recent close.

Perpetual is a financial services firm based in Australia.

The brokerage firm Citi has cut its price target for Regis (ASX:RRL) after the Australian mining company posted an annual loss.

The firm lowered the price target to A$1.20 from A$1.30 while maintaining its ‘sell’ rating.

Regis reported an annual loss attributable of A$24.3 million, a sharp contrast to the profit of A$13.8 million it made last year.

However, the company’s FY revenue from ordinary activities rose to A$1.13 billion from A$1.02 billion a year ago.

The company did not pay a dividend, citing upcoming capital commitments for the McPhillamys gold project and Citi does not expect a dividend payout until CY25.

According to data from Refinitiv, out of 11 analysts, 7 rate the stock as ‘buy’ or higher, 2 as ‘hold’ and 2 as ‘sell’ or lower, with a median price target of A$2.00.

So far this year, the company’s stock has dropped 26% at the last close.

Regis (ASX:RRL) is a gold mining company with operations primarily in Australia.

Citi Group has raised concerns about Australia’s Insignia Financial (ASX:IFL) after the company warned of increased costs related to cyber security and governance in its fiscal 2023 results.

On Thursday, the financial services provider fell sharply, posting a nearly 17% drop in its full fiscal year net profit after tax, which amounted to A$194.9 million.

Citi states that facing added expenses and declining revenue, also known as ‘negative jaws’, it’s difficult to foresee the company maintaining profitability.

The bank predicts Insignia will record a statutory loss in FY24 and only a minor profit in FY25.

The forecast also includes a mere 1% growth in the core profit in FY24, indicating another year of dwindling operating profit margins.

Moreover, Citi has adjusted its fiscal 2024 earnings per share estimate, reducing it by 6%, and suggests that the present financial year may be another stagnant period for the company.

Despite these challenges, Citi upholds a ‘neutral’ stance on the stock, albeit with a lowered price target of A$2.50.

Among ten analysts, seven rate the stock as ‘buy’ or higher and three suggest ‘hold’, with a median price target of A$3.50 – according to Refinitiv data.

Following these developments, Insignia Financial’s stock has declined by 22.1% this year, as stated in the most recent closing figures.

Insignia Financial (ASX:IFL) is a leading provider of financial services in Australia.

The brokerage firm, Citi, has reported that Qantas Airways (ASX:QAN)’s annual profit meets the consensus estimates and has subsequently decided to raise the price target.

Qantas Airways' annual profit before taxes, totalling A$2,465 million, aligns closely with the Visible Alpha consensus of A$2,452 million.

Citi has raised their price target to A$6.95 from A$6.90, whilst maintaining a ‘neutral’ rating on the company.

Looking ahead, Citi expressed a more mixed outlook for the company, citing momentum in the International and Jetstar affairs, being offset by dynamics in the Domestic sector, decreasing ticket prices, high fixed costs, and increasing capital expenditure.

On a different note, Jefferies has lowered their earnings forecast for fiscal 2024 for Qantas Airways, reducing the price target to A$8.78/share from A$9.15/share.

They attribute this downgrade to rising fuel costs and a delay in the sector recovery until the latter half of fiscal 2024.

Out of 16 analysts, 14 rate the Qantas Airways stock a ‘buy’ or higher and the other two rate it as a ‘hold’.

These analysts have a median price target of A$8.50, according to Refinitiv data.

As of the last close, the stock has risen 3.5% this year.

Qantas Airways is a major Australian airline known as Australia’s largest international and domestic airline.

Analysts at Citi have upped their price target on Australia’s health insurer, Medibank (ASX:MPL), from A$3.45 per share to A$3.70 per share.

The banking giant anticipates that Medibank will continue to see steady growth in the 2024 fiscal year.

Predictions suggest a 4% increase in pretax operating profit for FY24, as well as a 6% increase in underlying net profit after tax.

They also note that growth in policyholders appears to be back to normal, retaining a ‘Neutral’ stance.

Out of 12 analysts, 5 rate the stock ‘buy’ or higher, while 6 suggest ‘hold’ and 1 proposes ‘sell’; the median price target aligns with Citi’s at A$3.70.

Medibank’s stock has seen a 19% increase this year, as of the last closing price.

Medibank (ASX:MPL) is a prominent Australian health insurer supplying private health insurance and health solutions to millions.