PRE-MARKET AUSTRALIAN STOCKS NEWS: St Barbara (SBM AT) said completion of the Lingbao and Kumul transactions is planned for the first days of April and will receive AUD 370mln in cash from Lingbao, inclusive of deposit

Fonterra Co-operative Group (FCF AT) - Co. H1 (NZD) net rose 2.9% Y/Y to 750mln, operating profit rose 11% Y/Y to 1.23bln, rev. was 13.9bln, interim dividend NZD 0.24/share, special mainland dividend NZD 0.16/share, expects continuing operations EPS of NZD 0.50-NZD 0.65 and forecasts farmgate milk price of NZD 9.40-NZD 10.00/kgMS. (Dow Jones Newsplus)

Genesis Energy (GNE AT) - Co. completed a NZD 300mln fully underwritten renounceable rights offer, with the shortfall bookbuild clearing at a premium and total funds raised across all offers reaching NZD 400mln. (Motley Fool)

Karoon Energy (KAR AT) - Co. appointed Eric Williams as Chief Financial Officer and Mark Mick as Chief Commercial and Technical Officer. (Dow Jones Newsplus)

Rio Tinto (RIO AT) - Co. has dissolved its specialist climate arm, with some partners only discovering the move when their contacts stopped returning calls. (The Australian)

St Barbara (SBM AT) - Co. said completion of the Lingbao and Kumul transactions is planned for the first days of April, with the final investment decision on the new Simberi gold project to be triggered on the same date, and added it will receive AUD 370mln in cash from Lingbao, inclusive of deposit. (Dow Jones Newsplus)

Virgin Australia (VGN AT) - Co. has followed Qantas by raising airfares to cope with fuel costs doubling in a month, despite strong booking demand that has largely been unaffected by the Middle East conflict. (The Australian)

Broker Ratings/Targets

ANZ Group Holdings (ANZ AT) price target cut 4.1% to AUD 35.50/share by Macquarie.

Breville Group (BRG AT) price target cut 3.6% to AUD 37.10/share by Macquarie.

Commonwealth Bank of Australia (CBA AT) price target cut 3.2% to AUD 120.00/share by Macquarie.

Hub24 (HUB AT) upgraded to outperform from neutral by Macquarie, price target cut 13% to AUD 92.25/share by Macquarie.

Magellan Financial Group (MFG AT) downgraded to underperform from neutral by Macquarie, price target cut 1.2% to AUD 8.55/share by Macquarie.

National Australia Bank (NAB AT) downgraded to neutral from outperform by Macquarie, price target cut 3.2% to AUD 45.50/share by Macquarie.

Perpetual (PPT AT) price target cut 18% to AUD 20.05/share by Macquarie.

Premier Investments (PMV AT) price target raised 4.3% to AUD 16.90/share by Macquarie, price target cut 12% to AUD 16.90/share by Morgan Stanley.

Viva Energy Group (VEA AT) price target raised 16% to AUD 2.20/share by Jefferies.

Westpac Banking Corp (WBC AT) price target cut 4.3% to AUD 33.50/share by Macquarie.