Bell Potter lowered Abacus Storage King stock target from AUD 1.25 to AUD 1.05

Published on 10/20/2026 at 01:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal year 2026 revenue reached AUD 247.5 million as funds from operations fell 3.40 percent. Annual meeting is set for November 13, 2026.

Broker pressure meets operating scale

Bell Potter lowered its target on October 14, 2026, to AUD 1.05 from AUD 1.25.
Fiscal year 2026 revenue reached AUD 247.5 million while funds from operations fell 3.40 percent.
The annual meeting is set for November 13, 2026, and interim results are scheduled for February 15, 2027.

Abacus Storage King, AU0000286213, Illustration mit AI erstellt.

Abacus Storage King (ISIN AU0000286213) faces a sharper broker stance after Bell Potter lowered its target from AUD 1.25 to AUD 1.05 on October 14, 2026, according to FNArena. The broker also downgraded the stock from Hold to Sell, citing higher marginal funding costs after the fiscal year 2026 reporting season.

Target cut puts funding costs first

The target reduction is a 16.00 percent cut from AUD 1.25 to AUD 1.05. Markets Insider reported that Bell Potter analyst Michael Armstrong set the AUD 1.05 target and moved the rating to Sell on October 14, 2026.

The counterpoint is operating scale. Simply Wall St reported fiscal year 2026 revenue of AUD 247.5 million, flat from fiscal year 2025, while funds from operations reached AUD 164.2 million, down 3.40 percent from AUD 169.9 million.

What changed in the broker view?

Chronology shows the shift from results to valuation. On February 17, 2026, first-half revenue was AUD 122.4 million and funds from operations were AUD 41.0 million, according to Simply Wall St. On August 19, 2026, fiscal year 2026 revenue was AUD 247.5 million and funds from operations were AUD 164.2 million. On October 14, 2026, Bell Potter cut its target to AUD 1.05 from AUD 1.25.

The key tension is clear: the operating base remained large, but the broker placed greater weight on financing costs and bond yields. That makes the target revision a valuation signal rather than a new operating forecast.

Which dates come next?

TipRanks reported that Storage King Group scheduled its 2026 annual meetings for November 13, 2026, at 11:30 a.m. AEDT in North Sydney. InvestSMART lists February 15, 2027, as the next interim reporting date.

Scale remains visible

Storage King Group, the company's current name, had a market capitalization of AUD 1.4 billion as of October 16, 2026, and is listed on the ASX under ticker SKG. The next investor test combines the November meeting with the market's response to higher funding-cost assumptions.