Once again, a large number of broker notes hit the wires last week. Some of these notes were positive and some were bearish.

Three sell ratings that investors might want to hear about are summarised below. Here’s why top brokers think investors ought to sell these shares next week:

AMP Ltd (ASX: AMP)

According to a note out of UBS, its analysts have retained their sell rating and 90 cents price target on this financial services company’s shares. Although AMP’s latest funds under management update was in line with the broker’s expectations, its assets under management disappointed. In light of this and its belief that AMP’s shares are expensive, the broker appears to see no reason to change its recommendation at this point. The AMP share price ended the week at $1.18.

Flight Centre Travel Group Ltd (ASX: FLT)

A note out of Citi reveals that its analysts have retained their sell rating and cut the price target on this travel agent’s shares to $15.55. Citi was disappointed with Flight Centre’s quarterly update, which revealed softer than expected revenue margins. It feels that this and its break-even total transaction value requirement points to the company taking on very low margin revenue. The Flight Centre share price was fetching $20.98 on Friday.

Magellan Financial Group Ltd (ASX: MFG)

Analysts at Morgan Stanley have retained their underweight rating and $11.00 price target on this fund manager’s shares. This follows the release of Magellan’s funds under management update, which the broker estimates saw $1.5 billion flow out of the company’s funds last month. And while Morgan Stanley acknowledges that Magellan’s investment performance improved in April, it is still underperforming on longer term measures, which is unlikely to be supportive on fund inflows. The Magellan share price ended the week at $17.25.

The post Top brokers name 3 ASX shares to sell next week appeared first on The Motley Fool Australia.

More reading

• These were the best performers on the ASX 200 last week
• Could the worst now be over for the AMP share price?
• Top brokers name 3 ASX shares to sell today
• AMP share price rebounds as Woolworths ends $4b superannuation contract
• Magellan share price lifts as FUM tumbles again

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.

Here’s why brokers think investors ought to buy them next week:

Australia and New Zealand Banking Group Ltd (ASX: ANZ)

According to a note out of UBS, its analysts have retained their buy rating and lifted their price target on this banking giant’s shares to $32.00. UBS was pleased with ANZ’s performance during the first half of FY 2022 and notes that its results came in ahead of expectations. Though, the broker acknowledges that the quality of the earnings beat was low and driven by write-backs. Overall, the broker feels the bank’s shares are cheap, particularly given its improving outlook as rates rise. The ANZ share price ended the week at $26.76.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this pizza chain operator’s shares to $108.42. Citi highlights that Domino’s US has reported a recovery in the carryout channel. Assuming the carryout channel is also recovering in other European markets, the broker expects this to be a positive for the company, particularly in markets like France where it had a strong carryout business pre-Covid. The Domino’s share price was fetching $66.29 at Friday’s close.

Lovisa Holdings Ltd (ASX: LOV)

Another note out of Citi reveals that its analysts have retained their buy rating but trimmed their price target on this fashion jewellery retailer’s shares to $20.40. Citi notes that Lovisa latest trading update reveals that its strong sales growth has continued despite global supply constraints. Looking ahead, the broker is bullish on Lovisa due to its long term growth potential underpinned by existing markets and potential new markets. The Lovisa share price ended the week at $16.63.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

More reading

• Analysts say investors should buy these top ASX shares
• Hoping to secure the next ANZ dividend? Here’s what you need to do
• Top brokers name 3 ASX shares to buy today
• Why ANZ, ARB, Janus Henderson, and Temple & Webster shares are falling
• What’s pushing the Lovisa share price higher on Thursday?

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The New Hope Corporation Limited (ASX: NHC) share price has risen by close to 60% in 2022. Could the coal miner keep going up?

New Hope is one of the largest coal miners in Australia. It currently has a market capitalisation of more than $3 billion according to the ASX.

What has happened to the New Hope share price?

A couple of months ago the business announced its FY22 half-year result.

With that result, it disclosed that the average sales price achieved at 31 January 2022 was A$192.38 per tonne. That represented an increase of 147% compared to a year ago. The closing realised price for the reporting period was A$236.66 per tonne.

The miner reported underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of $554.4 million, which was a rise of 583%.

It generated $330.4 million, which compares to a loss of $55.4 million in the prior corresponding period.

The CEO of New Hope, Rob Bishop, said that the company is “well-positioned to continue generating strong, sustainable shareholder returns, with demand for high-quality, lower-emissions thermal coal expected to remain robust in the short to medium term as supply remains constrained.”

Mr Bishop pointed to “strong demand and lower than normal stock levels held by customers” as reasons for why the thermal coal price has been pushed well above the long-term average. New Hope said that its forward sales book will support “robust returns”.

The business grew its interim dividend from 4 cents to 17 cents, while also declaring a 13 cents per share special dividend.

Is the New Hope share price an opportunity?

According to reporting by the Australian Financial Review, Merlon Capital Partners lead portfolio manager Neil Margolis thought that the New Hope share price was attractive in 2020.

Mr Margolis points out that despite the large rise of New Hope, it is still on a cash flow yield “well north” of 50%. However, the fund manager doesn’t think a US$300 per tonne spot price will be maintained. For that reason, Merlon has been taking some profits.

However, Mr Margolis does still see value in the business, stating:

Being screened out by many large institutional investors on ESG is a reason it still offers value. We favour active ownership over divestment and have engaged constructively with the board indicating our preference for existing mines over expansion, responsible site remediation and the return of all surplus cash-flows and franking credits to shareholders, rather than pursuing capital destructive growth projects and acquisitions.

Expectations for FY22

The forecast on Commsec is that New Hope will generate $1.04 of earnings per share (EPS) and pay an annual dividend of 73 cents per share.

That puts the New Hope share price at 3.5x FY22’s estimated earnings with an estimated FY22 grossed-up dividend yield of 29%.

The post The New Hope share price has rallied 60% in 2022. Is there more to come? appeared first on The Motley Fool Australia.

More reading

• Why did ASX coal shares having such a stellar run on Thursday?
• Why are some ASX coal shares flaming out today?
• Top brokers name 3 ASX shares to sell today
• Why Bank of Queensland, Iluka, New Hope, and Zip shares are falling today
• Here’s why the New Hope share price is sliding 7% today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Leading brokers are keeping their faith in stalwart blue-chip ASX share, CSL Limited (ASX: CSL). This is despite the biotherapies company’s shares trading 20% down on their pre-pandemic peak of $336.40.

CSL finished the session on Friday at $268.16, down 2.93% for the day and almost 8% down year-to-date.

A major reason for the CSL share price being this low is two very tough years during the pandemic. CSL relies on blood plasma donations to develop its suite of medicines and vaccines. COVID-19 lockdowns around the world, particularly in the United States, made this incredibly difficult.

What has been happening lately for CSL?

As my Fool colleague Monica reported on Tuesday, plasma collections are now roughly back to pre-pandemic levels. CSL is also using new technology to reduce the time it takes to donate plasma by 30%.

In addition, CSL is awaiting the finalisation of its acquisition of Swiss company, Vifor Pharma. Vifor is a world leader in the development and manufacture of products to treat kidney disease and iron deficiency. CSL recently told the ASX that everything was on track for the purchase to be completed next month.

The company also presented at the 2022 Macquarie Australia Conference in Sydney this week.

So, what are the experts saying about CSL?

Citi recently reaffirmed its buy rating on CSL with a share price target of $335 price target. This implies a potential 25% upside on Friday’s closing price.

Bell Potter likes CSL’s leadership position in plasma therapies and also what the Vifor Pharma buy will do for the company. The broker explained:

The soon to be completed acquisition of Vifor Pharma will add global leadership in pharmaceutical products for renal disease and iron deficiency.

The global growth in plasma volumes is expected to be around a solid 8% per annum for the foreseeable future and, in addition, the group is planning to launch new products from its very extensive Research and Development portfolio.

History of the CSL share price

The CSL share price began a fantastic decade of growth in late 2011 when it was trading at about $30. Over about the next five years, CSL shares grew in value by 225%. They cracked the $200 mark in mid-2018 and the $300 mark in early 2020.

CSL currently trades on a price-to-earnings (P/E) ratio of 52.79 and pays an annual dividend yield of 1.12%.

The post The CSL share price has tumbled 8% this year. Here’s why these top brokers still have faith appeared first on The Motley Fool Australia.

More reading

• 2 strong blue chip ASX 200 shares to buy after the market selloff according to analysts
• Broker names 3 ‘champion’ ASX 200 shares to buy and hold
• CSL share price lifts as plasma collections continue recovery
• Here’s why the CSL share price beat the market in April
• 2 highly rated blue chip ASX 200 shares brokers rate as buys

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bronwyn Allen has positions in CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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