The latest Market Talks covering Equities. Published exclusively on Dow Jones Newswires throughout the day.

0217 GMT - Bendigo & Adelaide Bank's cost guidance implies material risk to the consensus forecast for fiscal 2028 earnings, Macquarie analysts warn. They tell clients in a note that Bendigo's expectation that business-as-usual costs will grow by 4%-5% in fiscal 2027 sits above the regional lender's medium-term guidance. They think that the next year or two will be challenging, with margin headwinds outweighing fading tailwinds, credit growth slowing, and increased focus on regulatory standards. Ultimately, they think return on equity is capped at 7%, well below Bendigo's 10% target. Macquarie keeps an underperform rating on the stock with an unchanged target price of 9.00 Australian dollars. Shares are up 3.6% at A$10.83. (stuart.condie@wsj.com)

0057 GMT - New Zealand telecommunications company Chorus's fiber price increases are lower than Forsyth Barr expected and weigh on its FY 2027 guidance. Chorus has proposed 3%-4% higher prices in FY 2027 for its low-mid speed plans. Forsyth Barr had expected mid-single digit price increases. Analyst Ben Crozier estimates Chorus is "underearning" its maximum allowable revenue, which is set by the regulator, by 7%. The price increases aren't enough to meaningfully close this gap in the near term. "While we still believe Chorus will earn its MAR over the medium term, it will just take it two years longer," Forsyth Barr says. It retains a neutral call on Chorus, which is down 2.3% to NZ$8.84.(david.winning@wsj.com; @dwinningWSJ)

0048 GMT - Woodside Energy's 1H result may have been well signaled in advance, but it still created several questions for Jarden. Woodside reported an underlying profit of US$1.33 billion, beating Jarden's estimate by 1%. Analyst Nik Burns expects the focus to be on Woodside's business review. Woodside plans to strip out US$350 million of costs, leading Jarden to seek detail on the composition of that program. Woodside also will carry out a strategic review of its Beaumont New Ammonia project in Texas. Jarden ponders whether this implies the likely sale and exit from the asset. It had an overweight call and A$32.20 price target on Woodside ahead of the result. Woodside is up 2.4% to A$34.29. (david.winning@wsj.com; @dwinningWSJ)

0044 GMT - Ansell's exposure to economic cycles, input-cost inflation and currency moves make it hard for the personal-protective equipment maker to deliver consistent growth, UBS analysts warn. Maintaining a neutral rating on the stock, the analysts tell clients in a note they are encouraged by Ansell's strong June-half performance but that a focus on organic revenue growth is nothing new for the company. They like Ansell's stronger-than-expected earnings guidance but see a potential second-half revenue headwind from a reduction in synthetic glove prices, pointing to a recent fall in oil-derived input costs. UBS lifts its target price 13% to 38.70 Australian dollars. Shares are up 6.3% at A$40.65. (stuart.condie@wsj.com)

0038 GMT - Ansell's stronger-than-expected earnings guidance isn't enough to turn Macquarie analysts more bullish on the stock. They raise their fiscal 2027 adjusted EPS forecast to the midpoint of the personal-protective equipment maker's guidance range, but point out that management will look to unwind recent price increases if inflation falls. This is enough to keep them cautious, they tell clients in a note. The Macquarie analysts think the 9.6% share-price jump that followed this week's fiscal 2026 result announcement left the stock fairly valued. Macquarie stays neutral on the stock and lifts its target price 9.3% to 38.60 Australian dollars. Shares are up 5.75% at A$40.44. (stuart.condie@wsj.com)

0037 GMT - Viva Energy's refinery operation is being supported by the Middle East conflict, but the company isn't doing as well as rival Ampol in capturing the tailwind to margins. Viva Energy said its refining margin was US$20.70 per barrel in July. That was below the US$27.11 per barrel reported by Ampol yesterday for the same month. Jefferies analyst Michael Simotas attributes the difference to the fire at Viva Energy's Geelong refinery in April, which curbed some production. Jefferies also says Viva Energy needs to articulate the earnings base of its Convenience Retail business. "We believe Ampol is a better way to play the sector," it says. Viva Energy is down 3.0% at A$2.765. (david.winning@wsj.com; @dwinningWSJ)

0029 GMT - Australian mall owner Scentre's share price falls 1.6% to A$3.61 despite management upgrading its annual guidance for earnings and distributions. Scentre now expects funds from operations of at least 23.79 Australian cents per security in 2026. It also raised its distribution forecast to 18.473 Australian cents per security. Jefferies notes the revised guidance falls short of its own expectation for FFO of 23.9 Australian cents/security. "We wouldn't expect material consensus FFO/security revisions following today's results," analyst Andrew Dodds says. Jefferies had a buy call and A$4.36/share price target on Scentre heading into today's result. (david.winning@wsj.com; @dwinningWSJ)

0025 GMT - Coles's recent supermarket sales look better than Citi feared. Coles said sales growth in the first eight weeks of FY27 was consistent with what it achieved in 4Q, which was 3.8% when tobacco is excluded, or 3.3% on a comparable basis. "We had expected material weakness given the very strong Ooshies promotion from Woolworths that ran for most of this period," says analyst Adrian Lemme. Coles acknowledged that Woolworths's campaign weighed on its sales for a period, but said trends are now back in line with 4Q26. Citi had a buy call on Coles heading into today's annual result. Coles is down 0.3% at A$22.57. (david.winning@wsj.com; @dwinningWSJ)

0011 GMT - Japanese stocks are lower after U.S. technology shares fell overnight. Chip and other electronics stocks lead declines. Kioxia Holdings falls 2.8%, Advantest is 3.6% lower and Panasonic Holdings is down 4.0%. The dollar is at 159.13 yen, compared with Y158.94 as of Monday's Tokyo stock market close. Investors are closely watching the Iran war and crude oil prices after Treasury Secretary Scott Bessent said the U.S. is launching a new campaign to isolate the Iranian regime. The Nikkei Stock Average declines 0.8% to 64980.53. (kosaku.narioka@wsj.com; @kosakunarioka)

2336 GMT [Dow Jones]--Monadelphous expects a year of consolidation in FY27. The market expects it to have one, too. "MND referred to FY27 being a year of consolidation and being able to position for future growth," RBC Capital Markets says following the engineering company's FY26 results. That is in line with previous remarks by management, who at the 1H FY26 result said that delivering growth in FY27 would be challenging, says the broker. "Importantly, current FY27 consensus NPAT [net profit] expectations are A$129 million, flat versus today's FY26 print," it says. RBC has a sector perform rating and A$31.00 target on Monadelphous. Shares ended Monday at A$32.27. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2348 GMT - Japanese stocks may fall after U.S. technology stocks dropped overnight. Continued uncertainty over the Middle East conflict may also weigh on the market. Nikkei futures are down 0.3% at 65280 on the SGX. The dollar is at 159.11 yen, compared with Y158.94 as of Monday's Tokyo stock market close. Investors are focusing on the Iran war and crude oil prices after Treasury Secretary Scott Bessent said the U.S. is launching a new campaign to isolate the Iranian regime. The Nikkei Stock Average fell 0.7% to 65528.09 on Monday. (kosaku.narioka@wsj.com)

2347 GMT - Monadelphous expects a year of consolidation in FY 2027. The market expects it to have one, too. "MND referred to FY27 being a year of consolidation and being able to position for future growth," RBC Capital Markets says following the engineering company's FY 2026 results. That is in line with previous remarks by management, who at the 1H FY 2026 result said that delivering growth in FY 2027 would be challenging, says the broker. "Importantly, current FY27 consensus NPAT [net profit] expectations are A$129 million, flat versus today's FY26 print," it says. RBC has a sector perform rating and A$31.00 target on Monadelphous. Shares ended Monday at A$32.27.