Australian Market Community

Lendlease (ASX: LLC) at $2.80 — Cheap Assets, But Is the Return Good Enough? I’ve rebuilt my Lendlease valuation following the FY26 result and stress-tested the original thesis.Read more

Brightstar Resources Limited (ASX:BTR) Introduction Brightstar Resources Limited is an emerging Western Australian gold company building two principal production centres: the Goldfields Project around Laverton and Menzies, and the larger Sandstone Gold Project. The company currently controls approximately 4.5 million ounces of gold resources across granted mining leases, comprising around 1.6Moz in the Goldfields and 2.9Moz at Sandstone.Read more

At $1.40, CNI looks approximately fairly valued to modestly undervalued , rather than obviously cheap. My central intrinsic value is about $1.45–$1.50 per security , with: Scenario Intrinsic value vs $1.40 Severe downside $0.85–$0.95 -32% to -39% Conservative $1.25–$1.35 -4% to -11% Base case $1.45–$1.50 +4% to +7% Good execution $1.70–$1.85 +21% to +32% Bull / AI succeeds $1.90–$2.10+ +36% to +50% The important point is that $1.40 is not the same type of “discount to hard NAV” opportunity that the $1.81 stated NAV might initially suggest.Read more

Wesfarmers owns some of Australia’s most trusted stores, and its real edge is a track record of buying businesses, improving them, and moving on at the right time. The big question is whether today’s market price already assumes years of steady success, or if there’s still room for long-term gains as brands like Anko and Bunnings find new ways to grow.Read more

Objective Corporation quietly runs the software that helps governments approve buildings, manage records, and enforce rules—and once it’s in, swapping it out can be so disruptive that customers tend to stick around. The big question is whether its push into the much larger UK public sector can keep growth going, or whether bigger platforms and leadership succession risks could slow the story down.Read more

Lincoln Minerals is a tiny Australian explorer betting on a potentially large copper find on South Australia’s remote Eyre Peninsula, where past drilling has already hinted at a bigger system. The catch is funding: recent drilling ran into setbacks, and the company may need to sell other assets to keep the copper push moving.Read more

This gold miner trades as if its mines are worth almost nothing, because most of its market value is backed by cash after a major asset sale. The big question is whether a disputed bill from the Papua New Guinea government and a long-stalled restart in Nova Scotia clear up as planned, unlocking a step-change in production.Read more

ResMed keeps growing strongly even as many investors worry that new weight-loss drugs will cut demand for its sleep apnea devices. If those fears fade and the company keeps rolling out new products and software services, the stock could get a fresh look from the market.Read more

Aristocrat Leisure is no longer just a maker of casino machines—it’s building a stickier gaming business through hit game franchises, deep casino relationships, and more repeat income from software and digital products. The upside comes from growing online play and smart acquisitions, but shifting rules and changing player habits could still hit demand.Read more