Research

Disclaimer. Research published on this page is prepared by Lodge Partners Pty Ltd (ABN 25 053 432 769, AFSL 246271) and is made available to wholesale clients only. In accordance with section 949A of the Corporations Act 2001, it constitutes general advice in respect of a financial product and not personal advice: it has been prepared without taking account of any recipient's objectives, financial situation or needs, and recipients should consider its appropriateness to their own circumstances before acting on it. Ratings used are BUY (anticipated return greater than 10%), HOLD (between −10% and +10%), SELL (less than −10%) and SPECULATIVE BUY (high-risk stock, price likely to fluctuate by 50% or more, anticipated return greater than 10%). Companies covered are, or in the past 12 months were, clients of Lodge Partners' affiliated company and authorised representative Lodge Corporate Pty Ltd, which has received or expects to receive compensation for investment banking or corporate services from them — see the transaction archive. Lodge directors, consultants and advisers may hold interests in the securities referred to and Lodge earns broking commissions acting for clients trading those securities. Past performance is not a reliable indicator of future performance. Full disclosures are set out in each report.