Day: 26 May 2022

The National Australia Bank Ltd (ASX: NAB) share price is gaining this morning as the bank reveals a buy now, pay later (BNPL) offering of its own.

NAB Now Pay Later will go up against Commonwealth Bank of Australia (ASX: CBA)’s StepPay, as well as ‘traditional’ BNPL companies such as Zip Co Ltd (ASX: ZIP) and Afterpay (now owned by Block Inc (ASX: SQ2)).

At the time of writing, the NAB share price is $31.86, 0.63% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.04%.

Let’s take a closer look at the ASX’s latest BNPL product.

NAB launches BNPL product

The NAB share price is in the green as the bank reaches what arguably appears to be a rite of passage for ASX 200 banks – jumping aboard the BNPL train.

NAB Now Pay Later will allow NAB customers to buy up to $1,000 worth of goods and pay in four fortnightly installments. It can be used anywhere that Visa Inc (NYSE: V) is accepted.

Interestingly, NAB’s offering differs from most other BNPL products by ditching all fees. It charges no late fees, no interest, no account fees, and has no minimum spend.

The product can be accessed through the NAB app. The bank’s executive of personal banking Rachel Slade noted customers can be approved to use NAB Now Pay Later while moving “from the fitting room to the register”.

“We’re able to do this quickly because of the combination of technology and knowing our customers,” Slade continued.

“We know their banking and credit history and we’re assessing them based on our existing banking relationship.”

It follows the release of NAB’s no interest credit card in 2020. The card has accounted for 30% of credit card applications over the past year, making it NAB’s most popular credit card product.

The bank expects NAB Now Pay Later to officially launch in July. Customers can pre-register for the product now.

NAB share price snapshot

The NAB share price is outperforming the ASX 200 by 13% in 2022.

The bank’s stock has gained around 8% since the start of the year. It’s also nearly 19% higher than it was this time last year.

The post NAB share price lifts amid BNPL product reveal appeared first on The Motley Fool Australia.

More reading

• Why is the NAB share price having such a cracker of a day?
• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• 3 reasons this broker thinks the NAB share price is great value
• Why Allkem, NAB, Pushpay, and Virgin Money UK shares are rising
• Has the NAB dividend been growing?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and Visa. The Motley Fool Australia has positions in and has recommended Block, Inc. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Shares of electric vehicle leader Tesla (NASDAQ: TSLA) zoomed higher on Wednesday morning, and were up by 5% through 11:58 a.m. ET.

You can give some credit to Cathie Wood for that.

So what

Over the past two days, as Tesla stock trended lower, famed (and lately, famously embattled) growth investor Wood scooped up nearly 42,000 shares — 15,858 shares on Monday, and another 26,081 shares Tuesday — according to data provided by the website of her investment management firm, ARK Invest. These were Wood’s first purchases of Tesla stock in at least the last two months — and they followed a two-month-long selling streak during which her ARK exchange traded funds (ETFs) sold off more than 490,000 shares.  

Wood, it appears, had been waiting patiently for Tesla stock to top $1,000, and she’s been steadily unloading the EV maker’s shares ever since, but after they sank below $700 on Friday, she resumed buying.

Now what

What prompted Wood’s sudden shift? A stock price that’s now 30% cheaper than it was when she started selling was likely one catalyst. But there was also some more substantive news out regarding Tesla on Wednesday. As U.K. newspaper The Independent reported, Tesla’s Advanced Battery Research division has announced it has developed a nickel-based rechargeable car battery that has the potential to last 100 years — or at least 1 million miles — before it must be recycled. (For the technically curious, the key material’s chemical formula is Li[Ni_0.5Mn_0.3Co_0.2]O₂.)  

Granted, Tesla’s current LiFePO₄ batteries are already estimated to have a service life of more than 20 years before they lose 20% of their maximum charge capacity — longer than the lifespan of most cars. But even so, increasing that lifespan by a factor of five implies the batteries might effectively never lose any significant charging capacity within a car owner’s time of ownership. That would give Tesla’s vehicles another strong competitive advantage in an electric car market that’s getting more crowded by the day.

Even more than Cathie Wood’s stamp of approval, this battery news is a good reason for Tesla stock to be rising. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tesla stock raced higher today appeared first on The Motley Fool Australia.

More reading

• Why Tesla stock turned south today
• Why Tesla stock finally bounced today
• Nasdaq sell-off: 2 growth stocks billionaires were buying in Q1
• Down almost 30% in the past month, here are 2 reasons to buy Tesla shares and 1 reason to hold off
• Why Tesla stock fell again today

Rich Smith has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. 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. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The S&P/ASX 200 Index (ASX: XJO) mining shares are known to be large dividend payers. In fact, one of them is currently the world’s biggest payer of dividends.

But does a big dividend mean that they are good options as ASX dividend shares?

FY21 and FY22 are certainly looking fruitful for shareholders of the large iron ore ASX mining shares of BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG).

Dividend expectations for FY22

In the current financial year, these are the following estimates for the dividend yields of the big three miners:

• Macquarie is expecting BHP to pay a grossed-up dividend yield of 16.6% in FY22.
• The broker thinks Rio Tinto is going to pay a grossed-up dividend yield of 16.3%.
• Macquarie has projected that Fortescue is going to pay a grossed-up dividend yield of 14% in FY22.

There’s no doubt these yields are very large. Not many ASX 200 shares will pay yields as large as that in FY22.

Longer-term shareholders have received a lot of cash from these miners in recent times thanks to the buoyant commodity prices.

Are ASX 200 mining shares attractive income ideas?

Short-term profits and dividend yields from the above names look tempting.

However, a key thing to remember with resource companies is that those commodities can move up and down at any time. Commodity prices are not predictable or consistent.

One year could see big profits and another year could show a major decline. Just look at what happened to the iron ore price towards the end of 2021 and also in 2016.

That’s the problem – ASX mining shares generate profit from their relevant commodities and then the dividends are paid from that profit. Dividends can suffer from a major decline in profit if the commodity price drops.

If shareholders don’t mind a variable dividend, then an ASX mining share could be an attractive option for income over the longer term.

However, for investors wanting a more consistent level of dividends year to year, ASX mining shares may not be the right place to be looking.

When is a good time to be looking for ASX mining shares?

Investors can choose to buy resource businesses any time they choose. However, I think it could be useful to consider commodity businesses when the price of that commodity has gone down, which may affect sentiment about that company and the sector. A cheaper share price could be better at the low point of the resource cycle.

For example, during the volatility towards the end of 2021, I chose to buy some Fortescue shares at a cheaper price than where they are today.

If the Fortescue share price were to drop below $16 again then I would be interested in adding to my position. I believe that any share price weakness of BHP or Rio Tinto could also make them more tempting.

The post Are ASX 200 mining shares good options for dividends? appeared first on The Motley Fool Australia.

More reading

• Australia’s renewable energy output could triple by 2030 under Labor. Will that impact these ASX 200 shares?
• Why BHP, BrainChip, Chalice Mining, and Fisher & Paykel shares are dropping
• Why has the Fortescue share price gained 10% in a week?
• ASX 200 midday update: BHP and Pilbara Minerals shares tumble
• What exactly is the difference between Woodside Energy (WDS) and Woodside Petroleum (WPL)?

Motley Fool contributor Tristan Harrison has positions in Fortescue Metals Group Limited. 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 Macquarie 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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There are a select number of exchange-traded funds (ETFs) that give exposure to certain sectors, such as green technology.

Some ETFs are about the entire share market, such as Vanguard US Total Market Shares Index ETF (ASX: VTS) or Vanguard Australian Shares Index ETF (ASX: VAS).

Other ETFs can give exposure to specific sectors like cybersecurity, video gaming or banking.

The below two ETFs are ones that are all about green technology:

BetaShares Climate Change Innovation ETF (ASX: ERTH)

This investment is about a portfolio of businesses that are aiming to fight climate change. BetaShares says the portfolio “comprises a portfolio of up to 100 leading global companies that derive at least 50% of their revenues from products and services that help to address climate change and other environmental problems through the reduction or avoidance of CO2 emissions.”

The types of sectors that it’s invested in include clean energy, electric vehicles, energy efficiency technologies, energy storage, sustainable food, water efficiency and pollution control.

Some of the names in the portfolio include ones like Eaton, American Water Works, Cie De Saint-Gobain, Trane Technologies, Ecolab, Vestas Wind Systems, Infineon Technologies, Tesla, Samsung and Zoom Video Communications.

It’s a pretty diverse portfolio, geographically speaking. The US is less than half of the country allocation, which is less than most globally-focused ETFs. China, France, Germany, Denmark, the UK, South Korea and Japan all get weightings of more than 3%.

The ERTH ETF has an annual management fee of 0.65%.

ETFS Battery Tech & Lithium ETF (ASX: ACDC)

As the name may suggest, this ETF is about businesses involved in battery technology and lithium mining.

ETFSecurities says that “demand for energy storage is being driven by the movement towards emissions reduction and renewable energy.”

It’s a global portfolio, with around 30 names. Some of the names in there include BYD, Allkem Ltd (ASX: AKE), TDK, Mineral Resources Ltd (ASX: MIN), LG Energy Solution, Renault, Livent and NGK Insulators.

The annual management fee of this ETF is 0.69%.

ETFSecurities says:

Battery technology represents a growth investment for many investors given the projected demand for storage in the coming years off the back of growth in renewables use and the electric vehicle industry.

The value chain for battery technology ranges from mining companies, mining for metals like lithium, to manufacturers of battery storage and storage technology providers. All are potential beneficiaries of the anticipated growth in this industry.

Foolish takeaway

I’m not going to say that either of these ETFs is a buy, but I do think that both of them give exposure to two very interesting sectors and megatrends.

The post These 2 ASX ETFs are focused on ‘green’ technology appeared first on The Motley Fool Australia.

More reading

• 2 fantastic ETFs for ASX investors to buy next week
• Does the ETFS Battery Tech & Lithium ETF (ACDC) pay dividends?
• What is a megatrend and which ones are impacting ASX shares right now?

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 positions in and has recommended Tesla and Zoom Video Communications. The Motley Fool Australia has recommended Zoom Video Communications. 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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With electric vehicle adoption rising and the clean energy transition underway, demand for lithium has been increasing strongly.

This has led to the white metal commanding sky high prices, which bodes well for the many lithium stocks listed on the Australian share market.

But which lithium shares could be in the buy zone? Two that have been named as buys are listed below. Here’s what analysts are saying about them:

Allkem Ltd (ASX: AKE)

The first lithium stock to look at is Allkem. It is a lithium giant which owns a collection of world class operations and projects across Western Australia, Argentina, and Canada.

Analysts at Morgans have named it their top pick in the lithium industry. They expect electric vehicle demand to remain strong with geopolitical events and a potentially tight oil market accelerating the shift towards electrification. Morgans has an add rating and $14.83 price target on its shares.

It explained:

We maintain our ADD rating given the strong growth outlook for the company and the potential 24% upside to our valuation. AKE’s diverse products and geographical mix adds opportunities to capture value as the market evolves. There is further potential upside that are not in our numbers such as Olaroz stage 3 and/or another lithium hydroxide plant. Should the lithium market continue to remain strong AKE still has a large amount of untapped growth potential.

Mineral Resources Limited (ASX: MIN)

Another lithium stock to look at is Mineral Resources. It is the company behind the massive Wodgina operation, which is one of the largest known hard rock lithium deposits in the world with a production life of over 30 years. It also has the Mt Marion Lithium Project and exposure to iron ore.

Goldman Sachs is very bullish on Mineral Resources and currently has a buy rating and $73.80 price target on the company’s shares.

It commented:

We forecast a more than doubling of group EBITDA to over A$2bn in FY23 driven by higher lithium and low grade iron ore prices, and a 5% increase to mining services volumes to ~300Mt. Over the next 5yrs we expect MIN’s mining services volumes to increase ~50% to over 400Mtpa, lithium volumes to triple, and iron ore equity volumes to nearly double.

The post Analysts name 2 of the best ASX lithium stocks to buy now appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX 200 lithium shares primed to take off
• Here are the top 10 ASX shares today
• Why Allkem, NAB, Pushpay, and Virgin Money UK shares are rising
• Why are ASX 200 lithium shares kicking goals today?
• The Mineral Resources share price leapt 10% this week. Too late to buy?

Motley Fool contributor James Mickleboro owns Allkem Limited. 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 Bruce Jackson.

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Australia’s Labor Government could see the nation’s renewable energy capabilities triple over the next eight years. That’s likely got some investors wondering where that might leave ASX 200 energy shares.

Quinbrook Infrastructure Partners co-founder and managing partner David Scaysbrook recently told media Labor’s election has made the firm “the most hopeful that we have been in a decade”.

Quinbrook doesn’t invest in ASX energy shares. Rather, its portfolio consists of renewable energy projects worldwide.

He believes the Labor Government could fast-track investment in renewables, growing green energy to generate more than 80% of Australia’s electricity.

Let’s take a look at what that could mean for some major ASX 200 energy shares.

Australian renewables could triple by 2030

Labor’s Powering Australia Plan aims to see 82% of the nation’s power derived from renewable energy by 2030, helping Australia cut emissions by 43%.

The policy saw Australia voting the party into power for the first time in nine years last weekend. It’s also a plan that could see Australia becoming a renewable energy superpower, Scaysbrook says.

“We’ve seen the targets that are being discussed are now anywhere between 80% and 100% by 2030. Just to put that into context, we’re sitting around 30% today.

“The compound rate of growth that that implies is extraordinary and I don’t believe it’s been matched proportionally anywhere else in the world … All the existing renewables in Australia has to be tripled in eight years.”

But it’s not only the chance to decarbonise Australia’s domestic power supply that’s exciting the institutional investor.

“There’s a genuine intent to create a rapid shift in deployment of more green energy and renewables, and also to start capturing the opportunities that lie at Australia’s feet in industrial decarbonisation,” he said.

Could these ASX 200 energy shares jump on the green train?

Plenty of ASX 200 energy shares could be impacted by a rapidly changing energy environment.

Notably, AGL Energy Limited (ASX: AGL). The company is Australia’s largest emitter and its management recently denied the possibility of speeding up its build-out of wind farms to meet a 2030 deadline.

Additionally, its planned demerger has been criticised as potentially slowing down the company’s journey to renewable energy and decarbonisation.

Also worth mentioning, Wilson Asset Management boss Geoff Wilson is critical of the company’s work towards renewables. He recently told The Australian the company’s invested “virtually nothing” in renewables since financial year 2018.

Thus, AGL might be forced to shift gears over the years following the leadership handover. It’s already flagged that it be reassessing closure dates for its coal-fired power stations annually in the years to come.

Origin Energy Ltd (ASX: ORG), on the other hand, has a large renewable portfolio and plans to ditch coal by 2025. It might not be stressed to help meet the government’s target.

Of course, ASX 200 energy producers could also feel the heat following the change of government. Fossil fuel producers such as Santos Ltd (ASX: STO), Woodside Energy Group Ltd (ASX: WDS), Whitehaven Coal Ltd (ASX: WHC), and Beach Energy Ltd (ASX: BPT) could find themselves less globally competitive, my colleague Bernd Struben reported earlier this week.

Finally, while not an energy share, ASX 200 iron giant Fortescue Metals Group Limited (ASX: FMG) bears a mention.

Scaysbrook dubbed the ASX 200 iron giant’s Fortescue Future Industries “a champion of hydrogen”. That could mean big things for a future Australian renewable energy export industry.

The post Australia’s renewable energy output could triple by 2030 under Labor. Will that impact these ASX 200 shares? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Woodside share price steady on first day trading under new name
• Why has the Fortescue share price gained 10% in a week?
• AGL share price lifts despite intensifying demerger opposition
• What exactly is the difference between Woodside Energy (WDS) and Woodside Petroleum (WPL)?

Motley Fool contributor Brooke Cooper 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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The Westpac Banking Corp (ASX: WBC) share price is rising on Thursday.

In morning trade, the banking giant’s shares are up 1% to $24.12.

Why is the Westpac share price rising?

The catalyst for the rise in the Westpac share price has been the release of an update on the bank’s superannuation business.

According to the release, Westpac and BT Funds Management have entered into an agreement to merge BT’s personal and corporate superannuation funds with Mercer Super Trust through a successor fund transfer (SFT).

The merger of BT’s personal and corporate superannuation funds includes the Westpac employee default plan, Westpac Group Super Plan. BT employees who support these funds will be offered employment by Mercer as part of the agreement.

Not included in the agreement is superannuation held on Westpac’s BT Panorama and Asgard platforms.

Anything else?

Westpac also revealed that it has entered into an agreement to sell its Advance Asset Management business (Advance) to Mercer Australia.

Advance is a multi-manager investment business which provides specialist funds management services and products, including for certain investment options available through BT Super’s personal and corporate superannuation funds.

It had $43.7 billion funds under management at end of March and manages a number of products available through BT Panorama.

What will the financial impact be?

The SFT will result in a small loss as a result of transaction and separation costs, whereas the sale of Advance will result in a gain.

The net effect of both over the remainder of FY 2022 and FY 2023 is expected to be an after-tax gain of $225 million.

Westpac’s Specialist Businesses Chief Executive, Jason Yetton, commented that these agreements were part of the bank’s simplification strategy. He said:

This is a further step in the simplification of Westpac and supports the Group’s focus on banking in Australia and New Zealand. It also provides significant benefits for BT Super members, new opportunities for our people and redefines the landscape of superannuation in Australia.

Since the formation of Westpac’s Specialist Businesses Division around two years ago we have made significant headway on our portfolio simplification agenda, having announced eight business sales, of which five have now completed.

The post Here’s why the Westpac share price is pushing higher today appeared first on The Motley Fool Australia.

More reading

• Own Westpac shares? Here’s why the bank’s $45b super business is hitting headlines
• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• Is the Westpac share price the cheapest in the bank sector today?
• 2 high quality ASX 200 dividend shares analysts have named as buys
• Why Nufarm, Pendal, Wesfarmers, and Westpac shares are sinking

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. 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 Westpac Banking Corporation. 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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Bank of Queensland Limited (ASX: BOQ) shareholders will have something to cheer about today as the company pays out its latest dividend.

The regional bank is rewarding eligible investors with a fully franked interim dividend of 22 cents per share.

At Wednesday’s market close, the Bank of Queensland share price finished 0.66% lower to $7.52.

For context, the S&P/ASX 200 Index (ASX: XJO) climbed yesterday with a 0.37% gain to 7,155.2 points.

Let’s take a look below at all the details regarding the company’s dividend.

Bank of Queensland pays out H1 FY22 dividend

Bank of Queensland reported growth across key metrics in its results for the first half of the 2022 financial year.

In summary, statutory net profit after tax (NPAT) rose 38% to $212 million when compared to the prior corresponding period. This was driven by an increased non-interest income and credit to loan impairment expense along with disciplined costs.

Management noted the careful execution of the ME integration and digital transformation program through the period of ongoing economic uncertainty.

The company is aiming for all of its retail brands to operate under a common cloud-based digital platform.

Moving on, the board opted to increase its interim dividend by 29% on H1 FY21’s 17 cents per share.

When looking at the current share price, Bank of Queensland is trailing on a forecast fully franked dividend yield of 5.87%.

Bank of Queensland share price snapshot

Over the past 12 months, the Bank of Queensland share price has fallen by roughly 15%.

Notably, its shares hit a 52-week low of $7.31 on 12 May before quickly rebounding in the days after.

Bank of Queensland has a price-to-earnings (P/E) ratio of 12.08 and commands a market capitalisation of roughly $4.86 billion.

The post The Bank of Queensland dividend is being paid today. Here’s the lowdown appeared first on The Motley Fool Australia.

More reading

• Is the Bank of Queensland share price a buy as an inflation hedge?
• Analysts name 2 ASX dividend shares to buy with juicy yields
• Could Bank of Queensland shares deliver 46% upside AND a 4.5% dividend yield in 2022?
• How does the Bank of Queensland dividend compare to the other ASX 200 banks?
• 2 high-yield ASX 200 dividend shares to fight inflation according to brokers

Motley Fool contributor Aaron Teboneras 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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The Appen Ltd (ASX: APX) share price is squarely in focus on Thursday morning following news the AI training data company has received a takeover proposal.

Before the opening bell, Appen laid to rest the rumours this morning, confirming the receipt of an unsolicited, conditional, and non-binding indicative proposal from TELUS International. The Canadian technology company is looking to acquire 100% of Appen at a price of $9.50 per share.

This would put an extra ~48% in the pockets of shareholders from yesterday’s $6.40 closing price.

Appen share price on watch amid acquisition news

The Appen share price might be in for an exciting session today following a $1.2 billion offer from one of the company’s competitors.

According to the release, TELUS is pursuing a takeover of Appen by way of a scheme of arrangement. The initial offer is for $9.50 per share. However, the former tech darling is already tapping Telus on the shoulder and asking for a better offer.

In hopes of a sweetened deal, the board is offering TELUS limited business and financial information upon the Canadian company entering a confidentiality agreement. From here, Appen’s board intends to carefully consider any revised proposals put on the table.

Notably, TELUS acquired Lionbridge AI for roughly US$935 million last year. At the time, the company highlighted that Lionbridge was one of only two globally-scaled managed training data and data annotation services providers in the world.

Today’s news suggests TELUS is attempting to secure somewhat of a monopoly by adding Appen under its umbrella.

From here, Appen will be looking to ensure it gets a worthwhile payout for the business. Given the suppressed Appen share price, the TELUS bid looks opportunistic to many.

What else?

Appen provided shareholders with a trading update in addition to the takeover news. Unfortunately, the details continued to paint the picture of slowing performance. Namely first-half earnings before interest, tax, depreciation, and amortisation (EBITDA) being ‘materially’ lower than the prior corresponding period.

Furthermore, the company’s year-to-date revenue is approximately 14% lower than the prior year. The impacted EBITDA has been attributed to investment in transformation, product, and technology. This news comes ahead of the annual general meeting that will be held tomorrow.

The Appen share price is down 43% since the beginning of the year.

The post Appen share price on watch amid $1.2 billion takeover bid appeared first on The Motley Fool Australia.

More reading

• If you’d invested $10,000 in Appen shares 7 years ago, lucky you! Here’s what you’d have now
• These are the 10 most shorted ASX shares
• These are the 10 most shorted ASX shares
• ASX 200 midday update: Brambles rockets, Goodman upgrades guidance
• Here’s why I think ASX-listed Appen could be a potential takeover target

Motley Fool contributor Mitchell Lawler has positions in Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen 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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If you’re looking for some blue chip ASX 200 shares to buy, then the two listed below could be top options.

Here’s why analysts at Morgans believes these blue chips are in the buy zone and have major upside potential over the next 12 months:

Macquarie Group Ltd (ASX: MQG)

This investment bank could be a blue chip ASX 200 share to buy right now according to analysts at Morgans. Its analysts like the bank due to its positive long term prospects thanks to its exposure to structural growth markets.

We continue to like MQG’s exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while the company continues to gain market share in Australia mortgages.

Morgans currently has an add rating and $215.00 price target on its shares. Based on the current Macquarie share price, this implies potential upside of 20%.

QBE Insurance Group Ltd (ASX: QBE)

Another blue chip ASX 200 share that has been tipped as a buy by the broker is insurance giant QBE. Morgans likes the company due to its exposure to rising rates and its cost reduction plans. In addition, it feels the company’s shares are trading on undemanding multiples at the current level.

With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on ~14x FY22F PE.

Morgans has an add rating and $14.45 price target on the company’s shares. Based on the current QBE share price, this implies potential upside of approximately 18% for investors.

The post Broker names 2 ASX 200 shares with major upside potential appeared first on The Motley Fool Australia.

More reading

• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• What’s going on with the Challenger share price today?
• Is Macquarie a quality ASX dividend share worth buying?
• Broker names 2 ASX 200 dividend shares to buy this week
• Is QBE considered an ASX dividend share?

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 Macquarie 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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