With many S&P/ASX 200 Index (ASX: XJO) companies in the midst of releasing quarterly results and updates, the team at Morgans are quickly adjusting their outlooks.
Two of the most recent shares to receive updated guidance from the broker are Stanmore Resources Ltd (ASX: SMR) and Suncorp Group Ltd (ASX: SUN).
Let's find out how Morgans views Stanmore and Suncorp shares today.
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Stanmore Resources
This ASX 200 company is an Australian coal producer with operations and exploration projects in the Bowen and Surat Basins in central and southern Queensland.
Its stock price has fallen 6% so far in 2026.
Yesterday, it released its Q1 2026 Quarterly Activities Report.
As Laura Stewart reported yesterday, it reported saleable coal production steady at 3.2 million tonnes and closing cash of US$166 million, giving the miner a strong foundation for the year.
Morgans said two of three headline metrics narrowly miss consensus, though without material impact.
As a result, FY26 production guidance is unchanged, and the year remains back-end weighted.
FOB cash cost guidance increased to US$98-103/t from US$93-97/t due to inflationary pressures on fuel costs. Our forecast FOB costs have been increased to ~US$99/t to reflect this guidance update. We have made material changes to forecasts that reduces our DCF valuation to A$2.80ps (previously A$2.95ps). Following recent share price weakness, we upgrade our recommendation to BUY (previously HOLD).
Today, Stanmore Resources shares are trading at approximately $2.25 each.
From this price, the updated target from Morgans indicates an upside potential of 24%.
Suncorp
In a fresh note out of Morgans, the broker has increased its price target on Suncorp shares.
The broker said the company has provided an update on its aggregate reinsurance cover and its FY26 outlook.
Overall, in our view, SUN securing an aggregate reinsurance cover will reduce future earnings volatility, whilst 2H26 claims are tracking below our expectations. We raise our SUN FY26F/FY27F EPS estimates by +3% and +1% respectively, reflecting lower-than-expected current year hazard claims relative to our prior forecasts, a mark-to-market and a modest adjustment to our forward UITR assumptions.
As a result, Morgans' price target has increased to $17.79 (previously $17), driven by these earnings revisions.
We believe SUN's management has executed well in recent years, successfully steering the company's strategy as a pure play general insurer. However, with the upside to our price target now more limited, we move to a HOLD recommendation.
At the time of writing, Suncorp shares are trading for $16.95.
From this level, the revised price target from Morgans indicates just 5% upside for Suncorp shares.
