The Point for Australia/NZ

This edition of The Point for Australia/NZ compiles Citi Research's latest views across Australian and New Zealand companies, industries and macro. On companies, EVT raised its FY27/28/29 NPAT forecasts by 14%/2%/2% after its AGM, with the A$17.55 target price unchanged and a Buy rating; Karoon's target price rose 6% to A$1.90 (Buy); Rio Tinto approved the US$1.9bn Kangwinan bauxite project, with a Neutral rating and target prices of A$155/£67; Temple & Webster's target price was raised to A$5.66 but remains Neutral; a2 Milk received a positive read-through from Nestlé's 3Q26 result; and Zip's 1Q27 cash EBITDA missed expectations on fraud costs. On industry and macro, NAB's 2,500 job cuts could generate A$360-530m of gross annual savings; Citi expects Australia's Q3 headline CPI at 1.2% QoQ and trimmed-mean inflation at 1.0%, supporting a 25bp RBA hike in November; it now expects the RBNZ to raise the OCR to 3.00%;