Stock Pick

Month: October 2022

  • Can the Macquarie share price crack the $200 mark again?

    Woman sits at computer in a quandary with hands at side of headWoman sits at computer in a quandary with hands at side of head

    It’s been a rough year for the Macquarie Group Ltd (ASX: MQG) share price.

    The stock cracked a new all-time high of $217.32 in January before plunging into the red amid the release of the company’s full-year earnings in May.

    It has continued on a wobbly downwards trajectory since, hitting its 52-week low of $149.51 last week.

    Since then, the Macquarie share price has rebounded to trade at $159.49 in late afternoon trading on Monday.

    But does the company have what it takes to drive its share price 26% higher to meet (or surpass) the $200 mark in the near future? Well, that depends on who you ask.

    Can the Macquarie share price surpass $200?

    The Macquarie share price has underperformed against both the S&P/ASX 200 Index (ASX: XJO) and other major banks this year.

    Its 25% year-to-date tumble compares poorly against the 12% fall posted by the index and the 14% slump experienced by the worst-performing big four bank stock – Australia and New Zealand Banking Group Ltd (ASX: ANZ).

    But brokers are hopeful for the Macquarie share price’s future.

    While Goldman Sachs doesn’t think it will reach $200 any time soon, it is tipping gains. Though, it’s not bullish enough to warrant slapping the stock with a buy rating.

    The top broker is neutral on Macquarie, dropping its price target to $194.03 following the company’s latest announcement in July. That still represents a potential 22% upside.

    Since then, the Reserve Bank of Australia has upped the benchmark interest rate three times to reach 2.6% this month.

    That spells both good and bad news for banks. It allows them to reprice their loans and increase their profits, but it also increases risks for their loan books.

    But rising rates isn’t what broker Morgans likes about the investment banking giant. The broker likes the bank’s exposure to renewables and infrastructure and its increasing share of the Australian mortgage market.

    Morgans has an add rating and a $215 price target on Macquarie shares, my Fool colleague James reports. If all goes how Morgans expects, the banking giant’s shares will clamber back onto the horse over the coming 12 months.

    The post Can the Macquarie share price crack the $200 mark again? appeared first on The Motley Fool Australia.

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    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 Goldman Sachs. 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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  • The Coles share price has tumbled 15% in seven weeks. Time to go shopping?

    Woman thinking in a supermarket.

    Woman thinking in a supermarket.

    The Coles Group Ltd (ASX: COL) share price has started the week positively.

    In afternoon trade, the supermarket giant’s shares are defying the market weakness and rising 0.5% to $16.39.

    Despite this, the Coles share price remains down a disappointing 15% over the last seven weeks.

    Is the Coles share price weakness a buying opportunity for investors?

    One leading broker that believes the Coles share price is trading at an attractive level is Morgans.

    According to a recent note, the broker has retained its add rating with a $20.00 price target. This implies potential upside of 22% for investors over the next 12 months.

    Another positive is that this potential return increases to 26% if you include the 65 cents per share fully franked dividend that Morgans is forecasting in FY 2023.

    Why is the broker positive?

    Morgans sees the Coles share price as a great option for investors for a couple of reasons. One is the company’s strong market position. It explained:

    The Australian supermarket sector is dominated by Woolworths and Coles with a combined market share of ~70%. This gives the two largest operators scale advantages over smaller rivals, strong bargaining power with suppliers, and financial capacity to invest for growth.

    Another reason is the attractive level that its shares trade at given the company’s defensive qualities. Morgans commented:

    Our equally-blended (DCF, SOTP, PE) target price remains unchanged at $20.00. Trading on 21.0x FY23F PE and 3.9% yield we continue to see COL as offering good value with the company possessing defensive characteristics that should hold up relatively well in a weaker economic environment.

    All in all, the broker appears to believe that this could make the supermarket giant one to consider if you’re looking for new portfolio additions this month.

    The post The Coles share price has tumbled 15% in seven weeks. Time to go shopping? appeared first on The Motley Fool Australia.

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  • The Bitcoin price just tumbled back below US$20,000. What’s happening?

    a young man sits on the floor with his back against a sofa hunched over his phone in one hand and his other hand on top of his head as though he is seeing bad news as his face looks sad and anguised.

    a young man sits on the floor with his back against a sofa hunched over his phone in one hand and his other hand on top of his head as though he is seeing bad news as his face looks sad and anguised.

    The Bitcoin (CRYPTO: BTC) price fell back below the psychologically important US$20,000 level over the weekend. And it’s yet to recover.

    At the time of writing, the world’s original crypto is trading for US$19,452 (AU$30,640).

    That’s after BTC traded as high as US$20,408 early last Friday.

    So, what’s putting the Bitcoin price under pressure?

    Why is the Bitcoin price back under US$20,000 today?

    Bitcoin can’t seem to reliably shake its close correlation with risk assets, like high-growth tech shares.

    Crypto prices broadly came under pressure on Friday after the release of an unexpectedly strong September jobs report out of the United States, which sent the NASDAQ to close 3.8% lower. The world’s top economy saw unemployment fall to a 50-year low of 3.5%. And a 5% year-on-year increase in wages showed inflation is unlikely to disappear anytime soon.

    In a case of good news is bad news for the Bitcoin price, the strong economic numbers mean crypto investors can expect further aggressive tightening from the US Federal Reserve in its bid to get the inflation genie back in its bottle.

    Indeed, as Fed governor Christopher Waller said, “Until we see any signs of inflation beginning to moderate, I don’t know how we pause.”

    With interest rates ratcheting up rapidly in 2022, the Bitcoin price has crashed 59% year to date.

    What are the experts saying?

    Chief market strategist at B Riley Art Hogan pointed to the sharp fall in money supply (M2) in the US as pressuring cryptos.

    According to Hogan (as quoted by Bloomberg):

    The logic would be that with the money supply, or M2, coming down, there’s less money floating around that could find its way into risk assets. And clearly cryptocurrencies have proven to be risk assets over the course of the last 12-18 months. You’d suspect that would be a negative for some of the riskier edges of the investment universe.

    Portfolio strategist at New York Life Investments Lauren Goodwin added that, like gold, the Bitcoin price and other cryptos aren’t living up to their hype as inflation hedges.

    “The reality is not so much that crypto is an inflation hedge but rather, much like gold has become, it evolves with central-bank liquidity,” she said. “So the reversal of excess liquidity in the economy from the Fed and other central banks has contributed meaningfully, in my perspective, to the lower appetite for digital currencies.”

    So, when can crypto investors expect a sustained rebound in the Bitcoin price?

    Keep an eye on those US inflation figures.

    The post The Bitcoin price just tumbled back below US$20,000. What’s happening? appeared first on The Motley Fool Australia.

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    Motley Fool contributor Bernd Struben 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 Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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 ASX 200 company has just been hit by its own Optus-style cyber attack. Here’s the latest.

    a hooded person sits at a computer in front of a large map of the world, implying the person is involved in cyber hacking.a hooded person sits at a computer in front of a large map of the world, implying the person is involved in cyber hacking.

    An ASX 200 company has been hit by a “malicious” IT phishing attack.

    Costa Group Holdings Ltd (ASX: CGC), a large fresh produce grower and marketer, advised of the attack late last week.

    Costa shares fell 1.79% before recovering to their current price of $2.23, 0.45% lower. For perspective, the S&P/ASX 200 (ASX: XJO) is down 1.31% today.

    Cyber attack

    Costa advised the “sophisticated” attack took place on 21 August. A review of the incident took place at that time.

    The attack involves 10% of data on a single server at Costa’s Corindi, NSW site.

    Costa said most of the information stored on the server is not personal information. But there is a risk personal information of workers on the company’s berry farms has been accessed.

    This could include passport details, bank details, superannuation details, and tax file numbers.

    In September, 10 million Optus customer records were stolen in a major cyber hack.

    However, unlike Optus, the attack on Costa’s system does not include customer records.

    There is no evidence any personal information of workers has been leaked online at this stage.

    Commenting on the news, Costa interim CEO Harry Debney said:

    This is a malicious attack, which was sophisticated in its execution.  Our first concern is for the impact this may have on our current and former employees.

    I can also confirm that no core business applications were accessed, nor was any customer or supplier data comprised by the attack.

    Costa recommends those impacted take steps to minimise risk of the data being used unlawfully.

    The company has also notified authorities of the attack.

    Share price snapshot

    The Costa share price has fallen 27%in the past year, while it has lost 26.6% in the year to date.

    Costa has a market capitalisation of more than $1 billion based on the current share price.

    The post This ASX 200 company has just been hit by its own Optus-style cyber attack. Here’s the latest. appeared first on The Motley Fool Australia.

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    Motley Fool contributor Monica O’Shea 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 COSTA GRP FPO. 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 name 3 ASX shares to buy today

    ASX shares Business man marking buy on board and underlining it

    ASX shares Business man marking buy on board and underlining it

    With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

    Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

    BHP Group Ltd (ASX: BHP)

    According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this mining giant’s shares slightly to $47.40. Morgans remains bullish on BHP due to its strong free cash flow generation and low risk profile. It notes that there is less that “can go wrong” relative to its peers. The BHP share price is trading at $40.12 on Monday afternoon.

    GQG Partners Inc (ASX: GQG)

    Another note out of Morgans reveals that its analysts have retained their add rating but cut their price target on this fund manager’s shares to $1.93. This follows the release of a funds under management update that disappointed. Nevertheless, Morgans remains positive. It notes that GQG’s investment performance remains strong, its shares are trading at an attractive level, and the weaker Australian dollar could be a boost to its dividend. The GQG share price is fetching $1.45 today.

    Monash IVF Group Ltd (ASX: MVF)

    Analysts at Bell Potter have initiated coverage on this fertility treatment company’s shares with a buy rating and $1.43 price target. According to the note, Bell Potter is positive on Monash IVF’s outlook thanks to a combination of new rebates, its regional expansion, and motivated customers. It is expecting this to underpin strong earnings growth through to FY 2025. The Monash IVF share price is trading at 94 cents on Monday.

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    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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  • Share market sell-off: 3 top ASX shares to buy now

    A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares

    A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares

    ASX shares that drop in price could present good opportunities for investors if their long-term prospects still look promising. The share market sell-off that we’ve seen so far this year – and is being continued today — could be a useful time to go hunting.

    The S&P/ASX 200 Index (ASX: XJO) is down another 1.38% today at the time of writing.

    I should point out that just because something has fallen in price doesn’t automatically mean that it’s better value. For example, an ASX share’s prospects could have worsened, leading investors to rightly reduce their expectations of the company in the future.

    In my opinion, the below three businesses look very interesting at the current levels.

    Johns Lyng Ltd (ASX: JLG)

    This business describes itself as “Australia’s leading integrated building services provider, delivering building, restoration, strata and energy services nationally and internationally. The group’s core business is built on its ability to rebuild and restore a variety of properties and contents after damage by insurable events including: impact, weather and fire events.”

    It has clients that include major insurance companies, insurance brokers, loss adjusters, commercial enterprises, local and state governments, body corporates/owners’ corporations, and retail customers.

    At the time of writing, the Johns Lyng share price has fallen almost 13% today and it’s down 37% in the year to date.

    The business gave an update today and explained its CEO has sold four million shares to fund his relocation to the US as well as the purchase of a home there, along with tax liabilities. CEO Scott Didier still owns 19% of the business.

    The business has reaffirmed its FY23 guidance that it’s expecting ‘business as usual’ (BaU) revenue to rise 27.4% to $930.4 million and that BaU EBITDA could rise by 43.3% to $93 million.

    I think this business has plenty of growth potential because of its increasing exposure to weather events such as storms and floods, and because it’s growing its presence with its existing and new clients.

    Pushpay Holdings Ltd (ASX: PPH)

    Pushpay is an ASX tech share that I believe has a compelling future. It offers digital donation tools and church management software for church organisations in the US. The business started off by targeting large and medium churches but it’s now trying to win over small churches as well.

    The ASX share recently announced it has won the US Army Chaplin Corps as a customer. The army will use a tailored Pushpay software and apps solution for its 51 ministries around the world.

    I think this business can benefit from the ongoing adoption of digital payments while growing profit margins thanks to operating leverage.

    Another thing to keep in mind is that private equity group BGH Capital may still be interested in buying the business, according to reporting by the Australian Financial Review.

    Since the beginning of 2022, the Pushpay share price is down almost 40% over the past year, so I think it could be an opportunity at this lower price.

    Audinate Group Ltd (ASX: AD8)

    The Audinate business offers the Dante IP networking solution, which claims to be a worldwide leader of AV signals. It works by replacing analogue cables and is used extensively in the professional live sound, commercial installation, broadcast, public address, and recording industries.

    I think that the Audinate share price looks much cheaper after falling around 7% today and it’s down 30% since 5 August 2022.

    Investing in worldwide leaders can make a lot of sense, particularly if they’re growing quickly. The ASX share’s FY22 revenue rose 33.4%. It said it’s entering FY23 with a backlog and software revenue run-rate to support revenue growth in US dollar terms in the “historical range”.

    I’m also excited by the progress it’s making with the video side of things. Video revenue is expected to be at least US$3 million in FY23.

    The post Share market sell-off: 3 top ASX shares to buy now appeared first on The Motley Fool Australia.

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    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 AUDINATEGL FPO, Johns Lyng Group Limited, and PUSHPAY FPO NZX. The Motley Fool Australia has positions in and has recommended AUDINATEGL FPO and PUSHPAY FPO NZX. The Motley Fool Australia has recommended Johns Lyng 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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  • Why Dubber, Johns Lyng, Seek, and St Barbara shares are sinking today

    a business man in a suit holds his hand over his eyes as he bows his head in a defeated post suggesting regret and remorse.

    a business man in a suit holds his hand over his eyes as he bows his head in a defeated post suggesting regret and remorse.

    The S&P/ASX 200 Index (ASX: XJO) is having a tough start to the week. In afternoon trade, the benchmark index is down 1.4% to 6,669.3 points.

    Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

    Dubber Corp Ltd (ASX: DUB)

    The Dubber share price is down 25% to 41.5 cents. This follows the release of the call recording software provider’s audited results for FY 2022. Dubber shocked investors by revising its revenue lower by $10.3 million from unaudited levels to $25.3 million and increasing its costs by $8 million. The company’s CFO has resigned with immediate effect.

    Johns Lyng Group Ltd (ASX: JLG)

    The Johns Lyng share price is down 13% to $5.78. The catalyst for this has been news that the building services company’s CEO, Scott Didier, has sold 4 million shares in the company. It appears as though the CEO received $6.25 per share, which equates to a total consideration of $25 million. The company explained: “This share sale has been undertaken to fund Mr Didier’s relocation and living expenses, including the acquisition of a family home in Denver Colorado, along with certain tax liabilities.”

    SEEK Limited (ASX: SEK)

    The Seek share price is down 3% to $20.11. This may have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has retained its sell rating and trimmed its price target on the company’s shares down to $20.70. It is worth noting that the Seek share price is now trading below this level.

    St Barbara Ltd (ASX: SBM)

    The St Barbara share price is down 6.5% to 72 cents. Investors have been selling St Barbara’s shares after the gold price pulled back on Friday night amid concerns over rising interest rates. It isn’t just St Barbara that is falling today. The S&P/ASX All Ordinaries Gold index is down 4.2% this afternoon.

    The post Why Dubber, Johns Lyng, Seek, and St Barbara shares are sinking today appeared first on The Motley Fool Australia.

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    Motley Fool contributor James Mickleboro has positions in SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Dubber Corporation and Johns Lyng Group Limited. The Motley Fool Australia has positions in and has recommended Dubber Corporation. The Motley Fool Australia has recommended Johns Lyng Group Limited and 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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  • Why Actinogen, Core Lithium, Fortescue, and Galileo Mining shares are pushing higher

    a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

    a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and dropped deep into the red. At the time of writing, the benchmark index is down 1.5% to 6,662.6 points.

    Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

    Actinogen Medical Ltd (ASX: ACW)

    The Actinogen share price has jumped 28% to 12.3 cents. Investors have been buying this biotechnology company’s shares after it announced positive Alzheimer’s Disease clinical results. The new clinical results show that Actinogen’s Xanamem product had a therapeutic effect in patients with a biomarker-positive blood profile.

    Core Lithium Ltd (ASX: CXO)

    The Core Lithium share price is up 1% to $1.17. This follows news that Core Lithium has transitioned from being a lithium developer to a lithium miner following the official opening of its Finniss Lithium mine. This makes it the first operating mine in the Northern Territory and Australia’s only lithium mine outside Western Australia.

    Fortescue Metals Group Limited (ASX: FMG)

    The Fortescue share price is up over 2% to $17.71. This is despite news that Morgans has downgraded the iron ore miner’s shares to a reduce rating and cut the price target of them to $14.50. However, it is worth noting that a number of materials shares are outperforming today.

    Galileo Mining Ltd (ASX: GAL)

    The Galileo Mining share price has jumped 14% to $1.37. This morning this nickel explorer announced that four RC drill holes completed 400 metres north of the Callisto discovery have intersected disseminated nickel sulphide mineralisation up to 51 metres thick. Management notes that the results confirm Galileo’s geological model that the five kilometres of ground to the north of Callisto is highly prospective for new discoveries.

    The post Why Actinogen, Core Lithium, Fortescue, and Galileo Mining shares are pushing higher appeared first on The Motley Fool Australia.

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    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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  • Here’s how Meta Platforms plans to disrupt Apple’s and Google’s smartphone empires

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

    people looking through comical glasses, what to look for, reporting season, person thinking, person interested

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

    Meta Platforms (NASDAQ: META), formerly Facebook, has been frustrated for the last 15 years by having to play by Apple‘s and Alphabet‘s rules on iOS and Android.

    Meta’s first attempt to circumvent the duo’s smartphone dominance, the Facebook phone, ended as a dismal failure in 2013. But the company’s second bite at the apple has a much better chance of working.

    Here is how Meta Platforms plans to disrupt the two smartphone empires.

    Love at first sight

    Meta founder Mark Zuckerberg first formed the seed of a plan to topple the iOS and Android empires after Google co-founder Sergey Brin introduced him to a Google Glass prototype on the sidelines of an awards ceremony. The Glass project was Google’s first attempt at augmented reality (AR), a technology that superimposes computer-generated visual content on a user’s view of the real world via a set of glasses. And Zuckerberg’s first look at Glass was love at first sight.

    Once Zuckerberg got a pair and took a closer look at what the technology could do, it wasn’t long before he visualized his company creating its own smart glasses hardware platform, where it would be free from following other companies’ rules. 

    The platform of tomorrow

    Facebook missed the birth of the mobile phone era. But once it was clear that the world was near the dawn of new computing technology, Zuckerberg began making aggressive bets. 

    His first bet was the acquisition of Oculus in 2014 for $2 billion. It was a promising small company developing virtual reality (VR), an interactive computer-generated simulation of a three-dimensional environment. When the company first announced the Oculus acquisition, Zuckerberg was quick to say that mobile is today’s platform, but the company was getting ready for the platforms of tomorrow.  

    Meta is relatively early in its VR opportunity, with massive growth ahead. Fortune Business Insights projects the global VR market to grow from $16.67 billion in 2022 to $227.34 billion by 2029, a compound annual growth rate of 45.2%.

    Zuckerberg has an AR vision, too

    While VR should grow into a massive market over the next decade, Apple CEO Tim Cook said in a 2016 interview with ABC News that he favors AR over VR and believes AR will eventually be the larger of the two.

    You might then wonder why Zuckerberg did not pursue AR first. The answer is that VR technology was much further ahead than AR toward becoming a viable consumer product in 2014.  

    But in 2022, industry analysts believe the AR market is geared to take off. Market research company Insider Intelligence projects that this country’s AR market will grow to 89.4 million users by the end of 2022 and reach 100 million users in 2025 — 35.5% of all U.S. internet users.

    And at the World Economic Forum earlier this year, CNBC reported that Nokia CEO Pekka Lundmark believes that smart glasses will replace smartphones by 2030, a growing belief among some tech executives. Should that occur, it could potentially end the iOS and Android chokehold on wireless mobile technology, a desirable scenario for Meta.

    Consequently, Zuckerberg’s second bet is heavy investment in AR. Meta’s division that develops AR and VR products, Reality Labs, began introducing AR products in 2021. It started with Ray-Ban Stories, a limited-feature smart glass produced in collaboration with the EssilorLuxottica brand Ray-Ban. Users can take pictures and videos, listen to music, and take phone calls with these glasses.

    Its full-featured AR is named Project Nazare, which will likely take many years to develop into a finished product. According to tech news website The Information, Meta wanted to release its first consumer version of Nazare in 2024. But it has since scrapped those plans, likely because of the souring global economy. 

    A cloudy short-term picture

    In May, Reuters reported that Meta’s chief technology officer Andrew Bosworth told Reality Labs employees that it would not be able to afford some projects and that the company could postpone other projects. And things have only gotten worse since May.

    Meta’s second-quarter total revenue declined 1% year over year due to unfavorable foreign exchange rates, the war in Ukraine, Apple’s iOS changes, weakness in e-commerce, and a sour economy. And Reality Labs had an operating loss of $2.8 billion in the quarter. Should the economy worsen, management could decide on further cutbacks. So there are reasons to avoid Meta’s stock, which include rumors that Apple will start releasing its AR/VR products in 2023, potentially jumping ahead of Meta.

    However, Meta’s shares now trade at a trailing price-to-earnings (P/E) ratio of 11.6, close to a historic low — compensating investors for taking some risk. So if you are a long-term investor who believes in Zuckerberg’s vision, now might be a great time to grab a few shares. If the company successfully creates a smart-glass platform, today’s valuation could look low 10 years from now.

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

    The post Here’s how Meta Platforms plans to disrupt Apple’s and Google’s smartphone empires appeared first on The Motley Fool Australia.

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    Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Rob Starks Jr has positions in Alphabet (A shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Apple, and Meta Platforms, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Apple, and Meta Platforms, Inc. 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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  • Expert tips this ASX 200 mining company to grow earnings by 80% in the next 2 years

    Miner looking at his notes.Miner looking at his notes.

    The Mineral Resources Limited (ASX: MIN) share price has outperformed the S&P/ASX 200 Index (ASX: XJO) by 35% so far this year.

    And even better days could be to come if these experts are to be believed, with the company’s earnings reportedly tipped to boom over the coming years.

    The ASX 200 company provides mining services, produces iron ore and lithium, and explores for gas in the Perth Basin.

    It’s also outperforming the broader index today. The Mineral Resources share price is down 0.6% right now, trading at $71.65. Meanwhile, the index is tumbling 1.5%.

    So, what are experts tipping for the company’s future? Let’s take a look.

    ASX 200 miner’s EBITDA tipped to grow 87% by FY24

    RBC Capital Markets is expecting big things for ASX 200 mining share, slapping it with a $77 price target, the Australian Financial Review reports.

    But that’s not the least of it. The broker is said to be expecting major growth in the company’s earnings.

    Mineral Resources posted around $1 billion of underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) for financial year 2022.

    That’s been tipped to increase around 150% this fiscal year, with RBC Capital Markets reportedly expecting the company to post $2.5 billion of EBITDA, driven by its lithium segment.

    That’s notably higher than that tipped by top broker Goldman Sachs. It expects the ASX 200 miner’s earnings to reach $2.3 billion this financial year.

    Goldman Sachs also has a buy rating and a $69.50 price target on Mineral Resources shares.

    Looking further into the future, RBC Capital Markets expects that, come financial year 2024, Mineral Resources’ earnings will have grown 87% on financial year 2022 levels.

    That’s despite the broker’s bearish outlook for both lithium and iron ore prices. Analyst Kaan Peker was quoted by the AFR as saying:

    [Mineral Resources] has positioned itself for multi-commodity production growth … which will underpin continued strong earnings generation, despite a forecast decline in lithium and iron ore prices.

    Stock in the ASX 200 miner has gained 22% so far this year. It’s also 60% higher than it was this time last year.

    The post Expert tips this ASX 200 mining company to grow earnings by 80% in the next 2 years appeared first on The Motley Fool Australia.

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    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 Goldman Sachs. 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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