Australian Research at a Glance - June 12, 2026

研报英文原文证据摘录

Australian Research at a Glance - June 12, 2026

AUSTRALIAN RESEARCH AT A GLANCE

Rating: Outperform

Price Target: 15.70 ↑ 15.50

Our view: Super Retail's investor day was comprehensive and covered key strategic

priorities across all 4 brands. The biggest surprise for us was the higher store count

plans - ~900 across the group by 2031. In the age of digital (and soon agentic)

commerce, sales mix shift towards online presents a margin risk to bricks and

mortar retailers, but stores remain central to a successful omnichannel strategy.

Maintain Outperform rating. PT $15.70/share (prev $15.50); 1) high quality

brands, 2) ~11x 1-year fwd P/E below -1 stdev on a 5-year average, 3) healthy

balance sheet with no debt.

Industry Comments

Rishi Jaluria (Analyst) RBC Software Primers: Why the DCF is Even More Relevant Now;

(415) 633-8798; rishi.jaluria@rbccm.com Addressing Terminal Value Debates

Published June 10 2026 16:05:00 EDT

Our view: In our 20th RBC Software Primer we revisit DCF (discounted cash flow)

analysis and provide company-specific analysis for 41 companies.

Josh Wolfson (Analyst) Tracking the Junior Golds

(416) 842-9893; josh.wolfson@rbccm.com Published June 11 2026 00:15:00 EDT

We provide an overview of junior gold valuations, sector trends, and key charts.

Precious metals explorers & developers have benefited over the last year from

rising gold prices and a supportive equity financing environment, which has

enabled project advancement. Junior gold valuations have increased, but remain

relatively low vs. the underlying commodity, in part indicating that higher gold

prices have not fully been reflected in share prices.

Global Commodity Strategy and MENA

Christopher Louney (Analyst) Commodity Strategy: Highlights from the Atlantic Council Global