0413 GMT - Public market sentiment toward Monash IVF could take a long while to improve following the fertility services provider's embryo mix-up at its Brisbane clinic, Jefferies analysts tell clients. Last week, Monash's shares tumbled 36% in a day on news that an embryo was transferred to the wrong patient, resulting in the birth of a child. Warning that sentiment toward Monash to remain weak for some time, the Jefferies analysts mull recent private-equity activity in the IVF space. They tell clients in a note that the historic transaction multiple for IVF assets is 13.8 times Ebitda for the last 12 months. Jefferies keeps a buy rating and A$1.45 target price on the stock, which is up 3.3% at A$0.7125. (stuart.condie@wsj.com)

0255 GMT - Australian lithium and rare-earth miners are likely to broadly miss 3Q consensus output estimates, according to Macquarie analysts. The analysts forecast a weak quarter for Lynas, predicting that rare-earth oxide production and sales in the three months ended March will miss market expectations by 4% and 8%, respectively. Among lithium producers, they tip shipments from Pilbara Minerals and Mineral Resources to fall short of consensus by 4% and 11%, respectively. IGO is expected to post a slight beat, 2% above consensus. Pilbara Minerals remains their preferred Australian lithium stock, "given its strong balance sheet, potential to liberate cash flow via a productivity drive, and downshift in its growth ambitions." The companies are expected to report their quarterly operational results this month. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0134 GMT - Netwealth keeps its neutral rating at Macquarie despite the investment bank's analysts moderating their EPS forecasts for the Australian wealth platform. Citing market volatility and slightly softer flow assumptions, the Macquarie analysts trim their fiscal 2025 EPS forecast by 1%, but push through cuts of 11%-13% for subsequent years on more moderate long-term growth assumptions. Even so, they tell clients in a note that the outlook should be supported by Netwealth's strong pipeline of new business. Macquarie cuts its target price 16% to A$28.40. Shares are up 0.4% at A$25.55. (stuart.condie@wsj.com)

0059 GMT - Ansell's sales volumes could be at risk from lower demand amid slower economic growth, Morgan Stanley analyst David L. Bailey writes in a note. While the personal-protective equipment maker has said it will offset the impact of tariffs through higher pricing, Bailey no longer expects revenue to grow at Ansell's industrial business in fiscal 2026 or fiscal 2027. He forecasts a 1% decline in industrial revenue in both years, having previously expected 4% growth in each. The healthcare unit is less exposed, but Bailey trims his overall EPS forecasts for fiscal 2026 and 2027 by 9% and 11%, respectively. MS cuts its target price 10% to A$33.40 and stays equal-weight on the stock. Shares are down 0.9% at A$29.435. (stuart.condie@wsj.com)

0049 GMT - Macquarie Group is downgraded to equal-weight from overweight at Morgan Stanley, where analysts cite the impact of a delayed recovery in capital markets. They tell clients in a note that the softer sentiment in capital markets, combined with underwhelming renewable asset sales, mean that the Australian financial group will be unable to pull on several of its best growth levers in fiscal 2026. They continue to admire the strength of Macquarie's balance sheet, but see better returns on offer elsewhere. Macquarie cuts its target price 15% to A$191.00. Shares are down 1.8% A$175.78. (stuart.condie@wsj.com)

0045 GMT - The pullback in Netwealth's share price creates an opportunity for investors to benefit from structural tailwinds, according to the wealth platform's new bulls. Morgan Stanley analysts raise their recommendation on the stock to overweight from equal-weight, telling clients in a note that their long-term thesis remains intact despite the recent sell-off. They expect Netwealth to keep gaining market share as advisers migrate from incumbent platforms, and flag the Australian company's capital-light operating model and high cash-flow conversion. MS trims its target price 4.8% to A$29.75. Shares are up 0.6% at A$25.59. (stuart.condie@wsj.com)

2341 GMT - Santos is expected by Macquarie to post a solid 1Q, including production of 22.2 million barrels of oil equivalent and revenue of US$1.3 billion. Its analysts have raised their production and revenue estimates roughly 3% and 7%, respectively, higher than before. They expect strong Papua New Guinea LNG output, with Angore online, and say Western Australia gas production looks better than their prior forecast, too. They reiterate an outperform rating. Still, the analysts pare their price target on the company's stock by 3.9% to A$8.60, citing "a minor lowering of inclusion factors on several growth projects that may face delays to FID's [final investment decisions] in the current environment." The "U.S. tariff crisis is driving more volatility and ultimately, lower oil prices," they add. Santos last traded at A$5.50. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2321 GMT -- ResMed's bull at Citi is bracing for the possibility of a short-lived share sell-off when trial results from Eli Lilly's Orforglipron weight-loss drug are announced. Analyst Mathieu Chevrier keeps a buy rating on the breathing-tech provider, but opens a 90-day downside catalyst watch on the release of Orforglipron's phase 3 readout, which is expected some time in the June quarter. Chevrier reminds clients in a note that ResMed's share price has reacted negatively to GLP-1 news in the past, but he doesn't expect any selloff to be long-lasting. Citi has a A$44.00 target price on the stock, which is at A$34.21 ahead of the open. (stuart.condie@wsj.com)

2239 GMT -- Australia's S&P/ASX 200 looks set to edge higher at the open, paring its recent losses following a positive lead by U.S. equities. ASX futures are up by 0.2% ahead of Monday's session, suggesting that the benchmark index should claw back some of the 2.5% decline compiled so far this month. Investors will likely have an eye on the release of construction and jobs data later this week for signs about the economy's health. Markets currently ascribe a 79% chance of the Reserve Bank of Australia cutting the country's cash rate by 50 basis points at its next meeting. On Friday, the DJIA rose 1.6%, the S&P 500 added 1.8%, and the Nasdaq Composite gained 2.1%. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 14, 2025 00:59 ET (04:59 GMT)

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