PRE-MARKET AUSTRALIAN STOCKS NEWS: Firmus Technologies has pulled plans for Australia's biggest IPO in three decades amid investor doubt

AUSTRALIA Alkane Resources (ALK AT) - Co. Q1 gold equivalent production of 40,740oz and sales of 38,348oz, with cash, bullion and listed investments of AUD 459mln at quarter-end, while reiterating FY guidance. (Dow Jones Newsplus) Lifestyle Communities (LIC AT) - Co. Q1 new home net sales fell 22% Y/Y to 39 and established home sales fell 12% Y/Y to 37, with slower momentum reflecting a softer property market. (Dow Jones Newsplus) Telstra (TLS AT) - Co. has launched legal action against former senior executive John Ieraci to prevent him from participating in security and managed services product development at rival Vocus. (AFR) West African Resources (WAF AT) - Co. should comfortably meet its FY26 production target, according to market commentary. (Dow Jones Newswires) IPO - Firmus Technologies has pulled plans for Australia's biggest IPO in three decades amid investor doubt. (AFR) Broker Ratings/Price Target ASX (ASX AT) price target raised 1.9% to AUD 53.00/shr by Macquarie. BHP Group (BHP AT) price target raised 1.6% to AUD 62.00/shr by UBS. Challenger (CGF AT) price target cut 5.9% to AUD 9.60/shr by Macquarie. Champion Iron (CIA AT) price target cut 1.2% to AUD 4.10/shr by UBS. Fortescue (FMG AT) price target cut 0.6% to AUD 16.40/shr by UBS. IGO (IGO AT) upgraded to Buy from Neutral, price target cut 3.4% to AUD 8.55/shr by UBS. Mineral Resources (MIN AT) price target cut 2.7% to AUD 72.00/shr by UBS. Nickel Industries (NIC AT) price target cut 4.5% to AUD 1.05/shr by UBS. PLS Group (PLS AT) upgraded to Buy from Neutral, price target cut 5.4% to AUD 5.30/shr by UBS. Rio Tinto (RIO AT) price target cut 2.8% to AUD 173.00/shr by UBS. Sandfire Resources (SFR AT) upgraded to Neutral from Sell, price target raised 9.1% to AUD 23.30/shr by UBS.