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

2142 ET - WiseTech's annual result was stronger than UBS analysts had anticipated, at least relative to their preferred metric. While the logistics-software developer's fiscal 2026 revenue and Ebitda were slightly lower than analysts Lucy Huang and Ailsa Lei had forecast, the pair points out that reported Ebitda minus capital expenditure came to US$405 million. This metric, which can be seen as the cash-generating capacity of a software business, was up from US$232 million a year earlier and beat UBS's forecast by more than 10%. The analysts see lower-than-expected research and development capex as the driver of the beat. UBS has a last-published buy rating on the stock and a target price of 65.00 Australian dollars. Shares are down 7.9% at A$41.89. (stuart.condie@wsj.com)

2141 ET - An impairment booked by Kuala Lumpur Kepong's associate, Synthomer, could clear a key overhang for the planter's stock, CIMB Securities analyst Ivy Ng Lee Fang says. The 1.62 billion ringgit non-cash charge reduces the risk of further sizeable impairments. KLK? remains positive on its FY 2026 outlook, supported by firm CPO prices, healthy fresh fruit bunches production and improving downstream earnings, she notes. Plantation earnings should remain resilient despite elevated costs, while manufacturing should benefit from stronger oleochemical contributions, partly offset by continued margin pressure in refining and kernel crushing. Still, Ng cuts KLK's FY 2026-FY 2027 earnings estimates by 1%-4% due to higher associate losses. CIMB raises KLK's stock target to 24.32 ringgit from 23.70 ringgit, while maintaining a buy rating. Shares fall 3.1% to 21.24 ringgit. (yingxian.wong@wsj.com)

2133 ET - Bega's cost discipline and revenue growth give the Australian food manufacturer a solid foundation for growth in fiscal 2027 and beyond, UBS analysts say. With an unchanged neutral rating on the stock, the analysts tell clients in a note that they are cheered by 8% international revenue growth across Bega's last fiscal year. They think that international revenue growth could continue to outpace domestic, supported by tailwinds including population growth, urbanization and shifting consumer preferences for ready-to-eat goods. UBS sees manufacturing footprint rationalization, cost savings, automation and capacity expansions as earnings tailwinds. UBS lifts its target price 9.0% to 6.65 Australian dollars. Shares are down 0.4% at A$6.275. (stuart.condie@wsj.com)

2131 ET - AI-driven memory demand is expected to remain strong through 2027 despite concerns that future AI systems may use less high-bandwidth memory, according to Mizuho Securities. The brokerage says aggregate DRAM demand continues to rise while supply remains tight, suggesting that worries about lower memory content in future AI accelerators may be overstated. Reduced memory requirements per chip could instead enable higher GPU and AI chip shipments, supporting broader AI deployment. Mizuho also expects global wafer fabrication-equipment spending to grow more than 25% in 2027, driven by new semiconductor fabs and continued AI investment. Uncertainty around the adoption of 800-volt power architectures in AI data centers could delay related infrastructure upgrades and equipment demand, it adds. (yang.jie@wsj.com)

2125 ET - There isn't enough in Flight Centre's annual result and trading update to stave off FY 2027 consensus cuts of a mid-to-low single digit, says Jarden. Flight Centre's underlying pretax profit of A$277.6 million was within the A$275 million to A$295 million range that management provided to investors in mid-June when it downgraded earlier guidance. "Given more recent positive global travel updates, we and market thought could come in mid-upper end," analyst Ben Gilbert says. Also, guidance commentary for corporate was softer than expected. "Balance sheet in good shape, capital management ongoing and leverage to a global travel recovery remains but, in our view, not enough in this result," Jarden says. It had a buy call and A$15.90 price target before today's result. Flight Centre falls 3.8% to A$12.47. (david.winning@wsj.com; @dwinningWSJ)

2123 ET - Ansell's annual result and outlook leaves UBS analysts with a lot of questions. In fact, they list more than two dozen queries for management on topics including manufacturing, potential divestments and the impact of raw-material costs on pricing of the Australia-listed company's personal-protective equipment. With Ansell targeting the U.S. as one of five high-margin growth markets, the investment bank's analysts wonder whether the company has sufficient manufacturing capacity across all its regions. Are any regions or facilities currently under review? They want to know if Ansell sees a strategic reason to further rationalize manufacturing sites or even countries, and what sort of capital expenditure would be required. UBS has a last-published neutral stock rating and a target of 38.70 Australian dollars. Shares are down 0.8% at A$41.02. (stuart.condie@wsj.com)

2118 ET - Woolworths's improving sales are likely to drive modest consensus FY 2027 upgrades, says Jarden. Woolworths said sales increased by 7.6% in its Australian supermarkets business in the first eight weeks of the new FY. When the boost from its promotional campaign featuring Disney 'ooshies' is stripped out, sales are up 5.5%-6.1%. Analyst Ben Gilbert says consensus hopes for 1H are 5% growth on year. "A clean result led by improving top line growth that has accelerated into FY27, with Woolworths's ability to continue to invest in the value offer and demonstrate customer retention post a successful Ooshies campaign key," Jarden says. It had an overweight call on Jarden ahead of the result today. Woolworths rises 4.7% to A$40.68. (david.winning@wsj.com; @dwinningWSJ)

2114 ET - Lovisa's sales in FY 2027 so far are outpacing market expectations for 1H, contributing to the costume jewelry retailer share price surging more than 15% to A$28.23. It catapults the stock to a six-month high, having been trading at a five-year low price-to-earnings multiple heading into today's result. Lovisa said total sales are up 16.4% in the first eight weeks of FY 2027 when currency swings are stripped out. That's a slight beat to consensus expectations of 13% across 1H as a whole, according to Jefferies. Lovisa also says sales momentum improved in August. Jefferies had a hold call and A$30.00 price target on Lovisa heading into today's result. (david.winning@wsj.com; @dwinningWSJ)

2109 ET - Kuala Lumpur Kepong could face some share price weakness after its fiscal 3Q swung into losses amid impairment losses at associate Synthomer, Maybank IB analyst Ong Chee Ting says in a note. However, the impairment is an accounting, non-cash item and helps remove an overhang on the stock, he notes. KLK could return into the black in fiscal 4Q, with its plantation division expected to drive earnings, he says. Share of losses from Synthomer is also expected to narrow 83% on year to 8 million ringgit, he reckons. Maybank maintains a hold rating on KLK and keeps its target price at 21.20 ringgit. Shares are 0.2% lower at 21.88 ringgit. (yingxian.wong@wsj.com)

2106 ET - Flight Centre's outlook looks mixed to Jefferies. The Australian travel agent highlighted signs of recovery in early FY 2027 trading. Its Leisure business posted a record total transaction value in July, surpassing the pre-pandemic 2019 peak. Leisure's July profit was its strongest since 2015. Analyst Michael Simotas says this suggests Flight Centre can claw back a meaningful part of the A$60 million drag on its FY 2026 profit in Leisure from the Middle East conflict. On the downside, pretax profit in Flight Centre's Corporate business is expected to be 2H-weighted given forward investment. Flight Centre falls 4.2% to A$12.41.(david.winning@wsj.com; @dwinningWSJ)

2101 ET - Woolworths's trading snapshot points to a very strong start to FY 2027 in Australian food, says Jefferies. Woolworths said sales increased by 7.6% in its Australian supermarkets business in the first eight weeks of the new FY, aided by its promotional campaign featuring Disney characters. "On an underlying basis, Woolworths has continued to outgrow Coles in early FY27, but the gap appears to have closed and Woolworths was cycling much easier comps," analyst Michael Simotas says. Market conditions appear to have improved. Both of the big grocers are well positioned to benefit from packaged food inflation and households eating at home rather than going to restaurants. Woolworths rises 5.3% to A$40.91. (david.winning@wsj.com; @dwinningWSJ)

2046 ET - Memory prices are set to absorb an even larger share of cloud providers' AI infrastructure budgets in 2027, with DRAM and NAND flash projected to account for 68% of total capital expenditure, up from 47% in 2026, according to research firm TrendForce. Server DRAM prices are expected to rise about 270% in 2026, while prices for enterprise storage products could jump 235%, extending gains that began in the second half of 2025. TrendForce says higher memory costs, particularly for high-bandwidth memory, could lead AI chip and server vendors to raise prices further, prompting cloud providers to either spend more or optimize system memory configurations to control costs.