Month: May 2022

It’s almost a biblical test of faith for investors in growth shares this year.

As inflation persists and interest rates rise, the market is abandoning businesses whose valuations rely on future earnings.

But the fact remains rates still remain very low by historical standards and will still be even after multiple hikes this year.

“There’s been so much hysteria around it. But you have to remember we’re only at 0.35% — and rates were at 2% before COVID hit,” TMS Capital portfolio manager Ben Clark told a Livewire video.

“And the economy’s growing faster now than it was then.”

Both Clark and Tribeca portfolio manager Jun Bei Liu indicated that stock prices will eventually catch up for quality businesses with positive and growing earnings.

But the emphasis is on “quality”.

“Our portfolio has been gradually moving towards more healthcare — some of the structural growth leaders. But remember, these companies have delivered growth for decades and they will continue to do so for the next few decades,” she said.

“Soon the market will come back to those companies and realise that everywhere else growth is going to be hard to deliver.”

Liu and Clark specifically named such 3 ASX shares that are tempting buys at the moment:

‘Future-proof your portfolio’

CSL Limited (ASX: CSL) is “an easy one” for Liu.

“Its earnings were hurt by the pandemic, simply because the blood collection was tough over the last few years,” she said.

“In its most recent update, CSL actually talked [about] that — it’s actually picking up quite quickly, which means earnings will grow quite significantly after that short-term disruption.”

The CSL share price has dropped more than 6.3% for the year so far, and 12.7% since November.

With the cool-off in share price, Liu reckons CSL shares are “trading on a very reasonable multiple for the growth it is going to deliver”.

“The company is fully funded, generating really great cash flow. It’s really helping you to future-proof your portfolio.”

‘One of the highest quality businesses’

According to Clark, “most fundies” would count Xero Limited (ASX: XRO) as “one of the highest quality businesses on the exchange”.

“But it’s been very expensive, and it’s just got significantly cheaper.”

Indeed, he noted the accounting software provider has not reported any results this calendar year, yet its share price has plummeted 40%.

“On face value, it still looks expensive, mainly because they pump about 80% of their revenue back into investment,” said Clark.

“That’s the business that is at the tipping point of the overshoot… that could run hard if we start to see that play out.”

‘Mature’ growth businesses are the safest in this climate

Seek Limited (ASX: SEK) is a “mature” growth business that has “a lot of certainty around the earnings”, according to Clark.

“The multiple compression isn’t going to be too violent from this stage,” he said.

“You still want to avoid businesses that need the share market to fund their future growth. That is not where you want to be at the moment.”

Analysts at Firetrail noticed a pattern in the US that they suspect will be replicated in Australia.

“Since COVID-19, the rate of voluntary resignations in the US has soared to its highest level in over 25 years, well above levels seen post-GFC,” they said in a memo to clients.

“This trend will benefit a company like Seek, who is a beneficiary of higher labour force turnover.”

The Seek share price has lost more than 25% since the start of the year.

The post ‘Future-proof your portfolio’: experts pick 3 quality growth ASX shares to buy appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• Where next for the CSL share price?
• Leading brokers name 3 ASX shares to buy today
• Why are ASX 200 tech shares having such a stellar start to the week?
• Top brokers name 3 ASX shares to buy next week

Motley Fool contributor Tony Yoo has positions in CSL Ltd. and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended SEEK 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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After yesterday’s falls, the Tyro Payments Ltd (ASX: TYR) share price is enduring another slight dip so far this Tuesday. At the time of writing, Tyro Payments shares are down 0.46% at $1.08 each.

It’s been a rough time for this payment terminal provider recently, no way around it. This is a company that is down more than 62% in 2022 so far, and down more than 70% over the past year, after all. We are a long way from the company’s 52-week high of $4.39 a share.

But since the new 52-week low of 99 cents per share that Tyro hit last Thursday, the company is now up more than 10%. So could this mean that Tyro Payments shares are on the comeback trail?

Tryo has had a rough time to be sure. The payments company has not escaped from the savage selling that many ASX tech shares have seen in recent weeks. That’s despite Tyro reporting some solid growth numbers for the first half of FY2022 back in February. These included a 30.6% increase in transaction value to $15.8 billion, as well as a 29.9% rise in revenues to $149.2 million.

Tyro has also been reporting a weekly COVID trading update to investors. The most recent of these was released yesterday. It showed that Tyro’s transaction volumes over April came in at $3.216 billion, a 43% increase on the $2.246 billion the company recorded in April 2021. For May year to date, it had recorded $29.07 billion in transactions, a 35% increase from the previous year’s $21.56 billion.

Is the Tyro share price going to bounce back?

So what’s next for Tyro Payments?

Well, as my Fool colleague Tristan covered back in March, brokers Ord Minnet and Morgans both rated Tyro shares as a buy following the release of its half-year earnings back in February. Even though both brokers noted that “margins and costs were worse than expected” in these results, they are both still expecting to see growth from Tyro going forward.

So that’s what two ASX brokers reckon. But only time will tell if the Tyro share price has finally turned a corner on its recent woes.

At the current Tyro share price, this ASX tech share has a market capitalisation of $558.6 million.

The post Could the Tyro share price be on the comeback trail? appeared first on The Motley Fool Australia.

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• Unprecedented: Does this event mean we’re now in a bear market?
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• 2 quality ASX 300 tech shares trading at multi-year lows

Motley Fool contributor Sebastian Bowen 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 Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. 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 OZ Minerals Limited (ASX: OZL) share price jumped nearly 2% in early trade on news it has an option over what could be Australia’s largest undeveloped open pit copper-gold deposits.

Management announced it had signed a binding term sheet with explorer Havilah Resources Ltd (ASX: HAV).

The term sheet gives OZ Minerals the option to acquire 100% of the Kalkaroo project. It also sets the basis for a strategic partnership between the miners in the prospective Curnamona Province in South Australia.

The OZ Mineral share price isn’t the biggest winner

The OZ Minerals share price rallied to a high of $21.85 before settling down to trade 0.75% higher at $21.62 at the time of writing.

But it’s the Havilah share price that saw most of the action. It surged 164% to 45 cents this morning. At the time of writing, it’s settled at 32 cents a share, 88% higher. The term sheet is material to the mining junior as OZ Minerals will pay $1 million a month to Havilah for the period of the term sheet.

Half of the payment will be used by the explorer to identify and advance nearby exploration opportunities in the Curnamona Province.

Details of the term sheet

Further, OZ Minerals is committed to spending another $76 million on exploration at the Kalkaroo project and on partnership activities.

In return, the S&P/ASX 200 Index (ASX: XJO) miner has up to 18 months to decide if it wants to buy the Kalkaroo project for $205 million.

Earnout component pushes acquisition cost to a max of $135m

It will have to pay Havilah another $65 million upon a 30% uplift in Kalkaroo’s Measured and Indicated Resource estimate. This is as well as a copper price-linked contingent payment in each year of production up to a maximum cumulative amount of $135 million.

Kalkaroo’s Mineral Resource estimate of 245Mt @ 0.45% Cu and 0.39g/t Au was announced by Havilah in 2018.

OZ Minerals chief executive Andrew Cole said:

The agreement provides a low-cost option and flexibility to study the Kalkaroo project, while retaining the optionality to acquire 100% of the project for a fixed acquisition price together with any deferred contingent consideration.

We believe our approach of taking projects from an early study phase through development and into operation can unlock significant value for our stakeholders, something we have demonstrated with Carrapateena, now in its third year of operation, and continue to show with West Musgrave as we approach a final investment decision on the project later this year.

OZ Minerals share price still in the red

Shareholders will be hoping that the deal will help turn sentiment towards the OZ Minerals share price. Its shares have fallen more than 12% over the past 12 months while the ASX 200 has gained around 1%.

Meanwhile, the Havilah share price has been saved by today’s jump. Its shares were wallowing around a more than one-year low but are now around 17% ahead over a 12-month period.

The post Oz Minerals share price rallies on potential $200m acquisition appeared first on The Motley Fool Australia.

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• Why are the dividends from Woolworths shares still so small?
• 5 things to watch on the ASX 200 on Tuesday
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• Brokers: 2 ASX 200 shares that could be top buys for growth

Motley Fool contributor Brendon Lau has positions in OZ Minerals 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 Scott Phillips.

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The Woodside Petroleum Limited (ASX: WPL) share price is lifting as shareholders get ready to go to the polls on the company’s planned merger with BHP Group Ltd (ASX: BHP)’s oil and gas portfolio.

And, in the nick of time, the merger has received its final regulatory tick of approval.

At the time of writing, the Woodside share price is $30.97, 1.54% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is also up 0.3% on Tuesday.

Let’s take a closer look at what’s going on with the oil and gas giant this week.

The latest on Woodside’s major merger

The Woodside share price is in the green on Tuesday. Its gains come after the company announced the National Offshore Petroleum Titles Administrator has given its merger with BHP’s petroleum assets the thumbs up.

The regulator ­– a facet of the Australian Government – administers and manages petroleum and gas titles in Australian waters.

Now all that’s left to do is to put the merger to a shareholder vote. Woodside investors will get their say on the plan at the company’s annual general meeting on Thursday.

If approved, the merger is expected to be completed on 1 June.

Fortunately for ASX energy fans, the Woodside share price isn’t alone in the green today.

Right now, the S&P/ASX 200 Energy Index (ASX: XEJ) is recording a 1.8% gain.

It’s being led by the Beach Energy Ltd (ASX: BPT) share price. It is recording a 4.4% lift.

Meanwhile, shares in Whitehaven Coal Ltd (ASX: WHC), Santos Ltd (ASX: STO), and Worley Ltd (ASX: WOR) are up 2.95%, 2.29%, and 2.91% respectively.

The momentum comes after many energy commodity prices increased by 2% to 3% on Monday.

Brent crude oil lifted 2.4% to US$114.24 a barrel while US Nymex crude oil rose 3.4% to US$114.20 a barrel, according to CommSec. Meanwhile, the price of thermal coal increased 2.5% to US$402.50 a tonne.

Woodside share price snapshot

Today’s gains included, the Woodside share price is 37% higher than it was at the start of 2022.

It has also gained nearly 38% since this time last year.

The post Woodside share price rises after merger clears final regulatory hurdle appeared first on The Motley Fool Australia.

More reading

• Woodside share price lifts despite Twiggy’s latest ‘greenwashing’ accusations
• 5 things to watch on the ASX 200 on Monday
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• 5 things to watch on the ASX 200 on Thursday
• What’s happening with ASX 200 energy shares this week?

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 Latin Resources Ltd (ASX: LRS) share price is having a strong day on Tuesday.

In morning trade, the lithium explorer’s shares are up 9.5% to 11.5 cents.

Why is the Latin Resources share price racing higher?

Investors have been bidding the Latin Resources share price higher today following the release of an update on the company’s Salinas Lithium Project in Brazil.

According to the release, the company has secured an additional highly prospective tenement, expanding the Salinas Lithium Project’s footprint to the east to cover additional strike extensions of the regional prospective host stratigraphy.

Latin Resources has achieved this through an exclusive and binding 24-month option agreement over the new concession from Mineracao Salinas. This allows it to acquire a 100% interest in this tenement.

Positively, the Lajinha tenement is highly prospective, with known outcropping spodumene bearing pegmatites. Its addition expands Latin Resources’ strategic land package to over 6,230 hectares in the Salinas lithium corridor.

Management commentary

Latin Resources’ Managing Director, Chris Gale, was very pleased with the development. He commented

We are very pleased to have secured the Lajinha tenement area, we continue to expand our foothold in this developing regional lithium pegmatite field. Our preliminary reconnaissance mapping and outcrop sampling of this area has confirmed the presence of spodumene pegmatites. Our regional mapping team will now complete a more systematic survey to better understand the extent of the known pegmatite system and select initial drill sites.

Mr Gale also spoke positively about the company’s ongoing drilling plans, which will support its first maiden JORC Resource at the Salinas Lithium Project. He adds:

With resource definition drilling underway at our main Bananal Valley area, first pass drilling underway at our Monte Alto area, first pass mapping and sampling completed at our Salinas South area; and now the initial systematic work to commence at the new Lajinha tenement – this provides the Company with a full project lithium development pipeline in the Salinas Region.

Now the company has made a significant new lithium discovery, this strategic expansion approach to our exploration is critical for long-term success of developing our first maiden JORC Resource.

Following today’s gain, the Latin Resources share price is up almost 300% in 2022.

The post Latin Resources share price races 9% higher on lithium update appeared first on The Motley Fool Australia.

More reading

• Why is the Latin Resources share price sliding today?
• Latin Resources share price sinks 10% despite lithium project update

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 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 A2 Milk Company Ltd (ASX: A2M) share price is trading lower on Tuesday morning.

At the time of writing, the struggling infant formula company’s shares are down 0.5% to $4.11.

Why is the A2 Milk share price falling?

The weakness in the A2 Milk share price on Tuesday appears to have been driven by news of the sudden exit of one of the company’s executives.

According to the release, Race Strauss has resigned from his position of Chief Financial Officer (CFO) to take some personal leave before pursuing other interests.

Mr Strauss will step down from his role immediately but will remain available to support the company through the FY 2022 year-end process and to assist with an orderly transition to a new CFO.

Though, A2 Milk has acted extremely fast and has found a replacement already. The company has appointed David Muscat as its new CFO, effective in October.

Mr Muscat is currently the CFO of DIM Brands International (formerly Hanes Europe Innerwear), and prior to this was the CFO of Hanes Australasia.

In the meantime, the company’s current Group Head of Finance – FP&A and Risk, Mark Sherwin, will assume the position of interim CFO from today until David Muscat commences in the role.

Management commentary

A2 Milk’s Managing Director and CEO, David Bortolussi, commented:

Race has been a key member of the Executive Leadership Team and has played an important role in our turnaround journey and navigating the business through the pandemic. During his tenure, Race has built capability in the Finance and IT functions, including the implementation of a new ERP system. I would like to express my thanks to Race for his dedication and contribution to a2MC, and we wish him all the best in his future endeavours.

I am delighted to have the opportunity to work with David Muscat again and to welcome him to a2MC. He is a capable and experienced finance and people leader, who I am sure will make a valuable contribution to our strategy and execution going forward. I also want to thank Mark Sherwin for stepping into the Interim CFO role. Mark is highly regarded in our company and known to many of our investors through his previous Investor Relations role.

The post Why is the A2 Milk share price falling today? appeared first on The Motley Fool Australia.

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• Why A2 Milk, Gold Road, GrainCorp, and Monash IVF shares are dropping
• Which is the better beaten-up buy, Bubs or A2 Milk shares?
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• A2 Milk share price sinks to multi-year low following broker downgrade
• What’s the outlook for the A2 Milk share price in May?

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 A2 Milk. 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 Pilbara Minerals Ltd (ASX: PLS) share price is making early headway today, up by 2.3% in early trade at $2.66.

Investors might be responding to a company announcement out of the lithium producer’s camp today outlining a government grant it had received.

In wider market moves, the S&P/ASX 300 Metals & Mining Index (ASX: XMM) has also spiked more than 1% from the open today.

What was announced?

Pilbara advised that, along with its project partner, Calix, it has been awarded a $20 million grant from the Australian Government.

The grant falls under the Modern Manufacturing Initiative (MMI) — Manufacturing Translation Stream. It will be used to support the further development and demonstration of the proposed Mid-Stream Project at the Pilgangoora lithium project.

Speaking on the announcement, Pilbara Minerals’ managing director and CEO Ken Brinsden said the company is “very pleased to be able to access the Australian Government’s MMI grant funding”.

He said:

The Mid-Stream Project is expected to facilitate waste minimisation in key end-use markets, which decarbonises the hard-rock lithium supply chain and creates competitive “value-added” products that can serve global markets directly.

We are pleased to be partnered with Calix and their fantastic team, to build-on the technology and ultimately market it around the world.

The company said the funding will be used as part of a joint venture (JV) between Pilbara Minerals and Calix for the progression of a demonstration-scale chemicals facility at the Pilgangoora project. This aims to produce lithium salts for global distribution via an innovative midstream “value-added” refining process.

What’s next?

Pilbara Minerals notes that it and Calix have moved through negotiations in relation to the JV to develop a small-scale demonstration plant.

Both parties are hoping to sign in early Q3 2022, with a final investment decision on the project to be decided in late 2022 to early 2023.

In the last 12 months, the Pilbara Minerals share price has spiked almost 150%. However, it is down by 16% so far in 2022.

The post Why is the Pilbara Minerals share price climbing today? appeared first on The Motley Fool Australia.

More reading

• 2 sold-off ASX shares essential for electric cars
• Own ASX lithium shares? Here’s a global expert’s outlook on lithium demand (and supply)
• Do any ASX lithium stocks pay dividends?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why are ASX lithium shares off to such a flying start this week?

Motley Fool contributor Zach Bristow 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 James Hardie Industries (ASX: JHX) share price is edging lower in morning trade despite the company reporting some strong results this morning. At the time of writing, James Hardie shares are down 2.3%.

Here’s what the S&P/ASX 200 Index (ASX: XJO) buildings products manufacturer reported for the fiscal year ending 31 March 2022, alongside the company’s fourth-quarter (Q4) financial results.

What happened during the quarter and fiscal year?

The James Hardie share price is slipping despite the company reporting a 20% year-on-year lift in its Q4 global net sales to US$968 million.

Global net sales for the fiscal year were up 24% from the prior year, reaching US$3.6 billion.

James Hardie also reported a 42% lift in adjusted net income for Q4 to US$178 million. This helped boost the adjusted net income for the fiscal year by 36%, reaching US$621 million.

As at 31 March, the company had net tangible assets per share of US$2.18. That’s up 43% from the prior year’s US$1.52 per share.

As for dividends, James Hardie paid a first-half dividend of 40 US cents, unfranked, that was paid out to shareholders on 17 December 2021. The 2021 financial year special dividend of US 70 cents was paid out on 30 April 2021.

What did management say?

Commenting on the results, James Hardie interim CEO Harold Wiens said:

I am delighted to report that the James Hardie team has continued to deliver strong execution of our global strategy. This is reflected in strong Price/Mix growth in all three regions, including North America Price/Mix growth of +12%, Asia Pacific Price/Mix growth of +11% and Europe Price/Mix growth of +14%.

The global team’s success in delivering high value products, is the result of (1) enabling our customers to make more money by selling more James Hardie products and, (2) marketing directly to the homeowners to create demand of our high value products through our customers.

What’s next?

Looking ahead, James Hardie reaffirmed its fiscal year 2023 adjusted net income guidance in the range of US$740 million to US$820 million.

That compares to adjusted net income of US$621 million for the fiscal year 2022.

Wiens said:

I believe our strategy, along with the depth in our world class leadership team and 5,000 committed and hard-working employees, will drive James Hardie to meet our mission of being a high-performance global company that delivers organic growth above market with strong returns.

James Hardie share price snapshot

The James Hardie share price has struggled this year to date, down 31%. That compares to a loss of 6% posted by the ASX 200 in 2022 so far.

Over the past five years, James Hardie shares have gained 92%.

The post James Hardie share price stumbles despite 36% lift in annual sales appeared first on The Motley Fool Australia.

More reading

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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 Commonwealth Bank of Australia (ASX: CBA) share price is rising on Tuesday morning.

At the time of writing, the banking giant’s shares are up almost 1% to $104.20.

Why is the CBA share price rising?

Today’s gain by the CBA share price could have been driven by the release of an update this morning from Australia’s largest bank.

According to the release, CBA is taking the next step in reimagining banking for customers. This will see the bank focus on building new and innovative customer experiences.

CBA’s CEO, Matt Comyn, explained:

Driving digital innovation for our customers is core to our strategy. This is all about reimagining what it means to be a bank, and the ways in which a bank can anticipate and meet customer needs.

We seek to be the trusted centre of our customers’ financial lives, using technology to build the best integrated and personalised digital experiences to suit all the ways our customers interact with us. Our strategy is to broaden and deepen our distinct and highly differentiated proposition to give customers more reasons to bank with the Commonwealth Bank.

Digital home loan launch

From today, CBA launching a new digital home loan, Unloan, which provides one, simple, low cost interest rate.

The release notes that owner-occupiers who refinance to Unloan will pay an interest rate of 2.14% (2.06% comparison rate) and investors 2.44% (2.36% comparison rate).

Digital applications take as little as ten minutes and customers receive a loyalty discount that grows by 0.01% p.a. every year, up to 30 years.

Mr Comyn revealed that the bank made the move in response to the “growing number of Australians [that] are ready to consider a digital home loan that’s easy to get and more rewarding to live with.”

Kit app launch

CBA is also launching a money app and digital information tool for kids, Kit. This aims to help kids learn about money, how to save, how to budget and how to manage their spending.

The bank highlights that with their own Kit account and prepaid card, kids can manage their own earning, saving, and spending through fun, experiential learning.

Kids can earn money on ‘chores PayDay’, create savings ‘Stacks’, access their money through an ATM and tap their card to make purchases. Whereas in Boss Mode, parents have access to sophisticated controls such as spend limits and card and PIN protection, which can be tailored to each child in the family.

CommSec in the CommBank app

CBA also revealed that it is planning to make Australia’s leading digital stockbroking service, CommSec, available in the CommBank app.

Mr Comyn revealed that the company is making the move in response to customer feedback. He commented:

With active CommSec online investors more than doubling over the past two years, from 750,000 in December 2019 to 1.52 million in November 2021, our customers have told us they want a simple, safe way to invest in equities and other asset classes, using a reliable platform from a trusted institution with sophisticated functionality made easy.

Yello customer recognition launch

A final initiative that CBA has announced is the launch of is CommBank Yello. It is a new recognition program that better rewards customers with specific, personalised benefits and offers.

The release advises that Yello will be available to more than six million retail customers with a banking account, with benefits tailored to customers depending on their products and tenure with the bank.

CBA intends to provide a range of benefits that will evolve over time, including discounts, cash backs and additional services and tools to recognise its existing customers. The recognition program will be progressively rolled out to our customers later this year.

Mr Comyn concludes:

With CommBank Yello there are no tiers, no statuses and no need to spend more. We simply want to recognise customers for the depth and duration of their relationships with us by offering them tangible value and ways to save. It’s our way of thanking customers for continuing to bank with us.

The post CBA share price higher on customer experience update appeared first on The Motley Fool Australia.

More reading

• Here’s why the CBA share price could soon be in for some pain
• This is the best ASX bank share to buy in a rising rate environment: Citi
• Top brokers name 3 ASX shares to sell today
• Inflation to ‘peak shortly’: CBA boss says markets have priced in too many rate rises
• Broker says the CBA share price is expensive and a sell

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 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 Beach Energy Ltd (ASX: BPT) share price has tracked higher in 2022 and is now more than 30% higher than it was at the start of the year.

Beach Energy shares have swung over a fairly wide range over the past three months as well, and have seen a small dip over the last five trading sessions.

However, in early trade this morning, the oil and gas producer’s share price is up 2.75% at $1.68.

Are Beach shares cheap?

Analysts at JP Morgan are overweight on Beach Energy shares and reckon there’s plenty of upside yet to be baked into the miner’s growth engine.

“Beach reported a strong quarterly result with higher than expected revenue driven by strong commodity prices,” the broker said in a recent note.

Such a result was helped by Beach’s “exposure to a diversified suite of assets in Australia”.

The company is net cash and therefore Beach has the strongest balance sheet of the large-caps under coverage. While we like the company’s leverage to East Coast gas prices, we also see some risks given the recent issues with well interference at the Western Flank. Nonetheless, at the current valuation, we remain Overweight-rated.

JP Morgan rates Beach Energy a buy on a $1.85 price target, not too shy from the other 12 brokers urging their clients to buy, per Bloomberg data.

However, within this coverage, three analysts also advocate to sell – two of those being Morgan Stanley and Macquarie.

Otherwise, the sentiment towards the company is tilted heavily towards bullish, and most of the commentary is tipping Beach to perform well throughout the remainder of 2022.

Meanwhile, the consensus price target from all coverage according to Bloomberg is $1.92 per share, suggesting around 14% upside potential.

Beach Energy share price snapshot

In the last 12 months, the Beach Energy share price has climbed more than 27% and is tracking around 2% higher for the last month of trade.

The post Up 30% in 2022, is it too late to buy Beach Energy shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow 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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