Australian Research at a Glance - July 1, 2026

研报英文原文证据摘录

Australian Research at a Glance - July 1, 2026

AUSTRALIAN RESEARCH AT A GLANCE

testing data. We stay cautious.

Michael Toner (Analyst) Collins Foods Ltd (ASX: CKF; 8.15)

+61 2 9033 3316; michael.toner@rbccm.com Published June 30 2026 02:57:29 EDT

Sheryl Chand (Analyst)

+61 2 9033 3113; sheryl.chand@rbccm.com FY26 Result

Rating: Outperform

Price Target: 12.00 ↓ 12.20

Our view: Group NPAT growth +17.6% y-y incl. TB disc ops was in line with guidance

and beat RBCe/cons by +2.6%/+2.0%. Australia SSSg is tracking much better than

expected (first 8 wks +4.0% vs RBCe 1H27 2.8%). Kwench national rollout, late

trading and delivery should be supportive of SSSg in FY27. Germany's soft 8wk

comps reflects weak promo execution and temporary impacts. Squid Game LTO

rolls out of the pcp in July, while weather and Iran impacts should resolve on a less

certain timeline. Outperform, $12.00/share PT, 14x 1yfwd P/E screens attractive.

Alistair Rankin (Analyst) Paladin Energy Ltd (ASX: PDN; 9.30; TSX: PDN)

+61 3 8688 6551; alistair.rankin@rbccm.com Published June 30 2026 06:57:38 EDT

Andrew D. Wong (Analyst)

(416) 842-7830; andrew.d.wong@rbccm.com PLS is bigger than you think - Upgrade to Outperform

Gordon Ramsay (Analyst) Rating: Outperform+61 3 8688 6578; gordon.ramsay@rbccm.com Price Target: 13.50

Our view: Patterson Lake South (PLS) is shaping up to be one of the most significant

uranium developments globally, and we have lifted our valuation driven by both its

probability of development and its ultimate scale. With Indigenous opposition risk

materially lower than perceived, MBAs secured with key First Nations, and Atlas

pointing to a meaningfully larger resource, we upgrade Paladin to Outperform with

a revised A$13.50 PT (prev. A$11.00) and see substantial further upside potential.