Risk: Medium

PPS

PPS: Wealth Platform Pioneer - Premium Positioning Pays Dividends

Updated 22 Oct 2025

Premium wealth platform leader trading at 35% discount to $0.91 fair value, with 15.2% ROIC and 95% recurring revenue model targeting HNW growth.

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JDO

JDO: SME Banking Specialist - Relationship Revolution or Overvalued Evolution?

Updated 22 Oct 2025

Specialist SME bank with 16% loan growth and NPS +53, trading at $1.73 vs $1.01 fair value. Strong execution but overvalued at current levels.

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HUB

HUB24: Wealth Platform Powerhouse - Ecosystem's Eating Everyone's Lunch

Updated 22 Oct 2025

HUB24 rated ATTRACTIVE at $110.72 fair value vs $108.83 current price. 15% revenue CAGR, 28% ROIC, 9.0% market share with wide moat.

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CXL

CXL: Industrial Decarbonisation Pioneer - Platform's Scaling, Policy's Paying

Updated 22 Oct 2025

BUY rating with $0.98 fair value vs $0.485 current price (85% upside). Platform technology across $50bn+ TAM, 16% revenue CAGR, 80% grant success rate.

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AMI

AMI: Base Metals Miner - Federation's Firing, Cobar's Calling

Updated 22 Oct 2025

Undervalued base metals producer with 232% upside potential. Fair value $0.63 vs current $0.19. Strong EBITDA margins 35.5%, net cash position, targeting 40kt copper equivalent by FY28.

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ppt

PPT: Financial Services Transformer - Simplification's the Salvation

Updated 20 Oct 2025

Fair value $20.62 vs current $20.90. Corporate Trust moat with 45%+ margins. J O Hambro turnaround critical. Expected 3-year returns 2.5% annually.

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bap

BAP: Automotive Aftermarket Leader - Transformation's Taking Time, But Value's Taking Shape

Updated 20 Oct 2025

Market-leading automotive distributor trading at 13% discount during operational transformation. Fair value $4.21 vs current $3.17 implies 33% upside with medium risk profile.

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fid

FID: Integrated Wealth Platform - Quality Execution Meets Transition Complexity

Updated 20 Oct 2025

Fiducian trades at $12.57 vs $11.84 fair value with 52.1% ROIC and 7.2/10 quality score, managing platform transformation amid legacy business decline

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ilu

ILU: Mineral Sands Giant - Crisis Management Meets Critical Minerals

Updated 17 Oct 2025

HOLD rating with $5.25 fair value vs $8.10 current price. Quality mining operation with validated crisis management and rare earths transformation potential.

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ngi

NGI: Alternative Asset Powerhouse - Flight to Quality Creates Exceptional Opportunity

Updated 17 Oct 2025

Alternative asset manager trading at $2.16 vs $5.60 fair value (159% upside) with record AUM growth and operational excellence validation

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qfe

QFE: Professional Services Lender - Transformation Complete, Value Creation Commences

Updated 17 Oct 2025

Pure lending specialist with A$0.446 fair value vs A$0.115 current price, 18.5% ROIC, A$35.8M cash, 74% margin of safety

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fex

FEX: Iron Ore Transformer - Partnership Power Play Pays Off

Updated 17 Oct 2025

BUY rating with A$1.65 fair value vs A$0.52 current price. Strategic Baowu partnership, 6-10Mt scaling potential, 8.6/10 business quality.

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