Australia's ALS jumps as brokerages raise earnings estimate on commodities boost

ALS

19/05/2026 02:25

Updates

** ALS Ltd ALQ.AX stock rises as much as 5.1% to A$22.94 in early trade, its highest level since May 11

**  Materials testing firm's stock on track for largest intraday pct gain since April 8

** Jefferies upgrades FY27, FY28 EPS estimates by 1%, 7%; hikes PT to A$24.4 from A$23, maintains "hold"

** Calls FY26 results "solid" with 2% NPAT beat led by commodities segment

** Says exploration volumes expected to ramp up in FY27; positive gold, copper prices to support exploration spend

** Morningstar lifts FY27 EPS estimate by 4% but maintains A$16.7 fair value vs A$21.83 last close

** Says stock "overvalued" as market credits excessive long-term commodities earnings growth

** Stock up 2.7% YTD, including day's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))