If you’re looking for ASX 200 shares to add to your portfolio, then you may want to look at the two named below that have been tipped as buys by analysts at Morgans following the release of their results.

Here’s why the broker is very positive on these shares:

Cochlear Limited (ASX: COH)

The first ASX 200 share that Morgans is bullish on is Cochlear.

It is a manufacturer and distributor of cochlear implantable devices for the hearing impaired across over 30 countries. It offers three main products: Cochlear implants, Baha bone conduction implants, and Cochlear Wireless Accessories.

Morgans was pleased with Cochlear’s recent half year update. It commented:

Cochlear’s 1H results were better than expected, underpinned by strong sales growth in both developed and emerging markets, but OPM declined on growth initiatives. […] We see continued momentum, with FY23 guidance reaffirmed, implying a strong 2H (+25% at the mid-point), underpinned by strong fundamentals and progressively improving trading conditions.

The broker has an add rating and $250.60 price target on its shares.

Corporate Travel Management Ltd (ASX: CTD)

Another ASX 200 share that Morgans is bullish on right now is corporate travel specialist Corporate Travel Management. It believes it is well-placed for growth over the medium term. This is thanks to acquisitions, its lower cost base, and technology development.

In response to its half year results, Morgans commented:

CTD’s 1H23 result was a slight miss compared to implied guidance and our forecast. However, the result included additional costs so that CTD can take advantage of the expected strong recovery in the 2H23 and FY24. The midpoint of FY23 EBITDA guidance was slightly better than consensus however higher D&A and tax results in NPATA downgrades. CTD is confident of achieving a full recovery in FY24 based on significant new clients wins.

Morgans currently has an add rating and $21.90 price target on the company’s shares.

The post 2 ASX 200 shares to buy post-results: Morgans appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX 200 shares today
• 4 ASX 200 shares rerated by brokers following earnings results
• Here are the top 10 ASX 200 shares today
• Why did the ASX 200 leap higher on rising unemployment data?
• Buy these 2 struggling ASX 200 shares now while they’re cheap: fund

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 positions in and has recommended Cochlear. The Motley Fool Australia has recommended Cochlear and Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/4MuDy2t

ASX mining share Okapi Resources Ltd (ASX: OKR) set the bar high on Monday.

Shares in the tiny ASX mining stock were up more than 41% in early trading today before some profit taking took place, giving back a lot of those gains.

At market close, the Okapi Resources share price closed up 5.88%, trading for 18 cents per share.

What’s piquing investor interest in the ASX mining share?

The Okapi Resources share price entered a trading halt on Thursday pending the release of a capital raising announcement.

The ASX mining share released that capital raise announcement before market open this morning. And investors appeared enthusiastic with the outcome.

Okapi said it has received binding commitments to raise $5.1 million (before costs) through a placement of approximately 34.2 million shares at an issue price of 15 cents per share. That’s 25% below the current share price, mind you.

Okapi will use the funds to complete its investment in uranium enrichment technology company, Ubaryon Pty Ltd. The miner also plans to advance its Tallahassee, Maybell and Athabasca uranium projects.

The $5.1 million placement will take place in two tranches.

The directors’ participation of $129,000 worth of shares in tranche two of the placement is subject to shareholder approval. That approval will be sought at a general meeting in early April.

Commenting on the capital raise that sent the ASX mining share soaring today, Okapi’s managing director Andrew Ferrier said:

We are delighted to have new institutional and sophisticated investors participating in this placement… We are also very pleased to see the strong support from existing shareholders.

Most importantly, this raising provides Okapi sufficient funding to complete the Ubaryon investment. We are very excited to acquire an interest in Ubaryon’s Enrichment Technology, and it has the potential to add significant value to Okapi and its shareholders.

Okapi share price snapshot

The ASX mining share slid lower during the second half of 2022.

However, as you can see in the chart below, the Okapi share price is up 20% so far in 2023.

The post Why did this ASX mining share rocket 40% on open today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Own Zip shares? Here’s an earnings preview
• Here are the top 10 ASX 200 shares today
• Passive income boost! 2 excellent high yield ASX dividend shares to buy: experts
• ASX tech share Weebit Nano has surged 90% in 2023. What’s going on?
• Here are the 3 most heavily traded ASX 200 shares on Monday

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 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.

from The Motley Fool Australia https://ift.tt/altFvy8

Zip Co Ltd (ASX: ZIP) shares will be in focus later this week when the buy now pay later (BNPL) provider releases its half year results.

Ahead of the release, let’s take a look at what we should be looking out for from its results on Thursday 23 February.

Zip results

Given that Zip released its second quarter update last month, there won’t be too many surprises from its results.

As a reminder, the company ended the period with 7.4 million active customers. This comprises 4 million in the United States, 2.3 million in the ANZ market, and 1.1 million across its Rest of the World segment.

From these customers, Zip delivered transaction volume of approximately $4.9 billion across the first half. This was up 8.9% over the prior corresponding period.

And with the company’s revenue margin improving year over year despite the tough operating conditions, Zip’s first half revenue came in 16.2% higher at $351.2 million.

The big question for investors, though, is what will this top line growth and its quest to accelerate its path to profitability mean for its bottom line.

A year earlier, Zip reported a loss of $214.3 million or an adjusted loss of $153.6 million. The former includes impairments of goodwill allocated to Zip UK and global rebranding costs.

Clearly, the market is expecting much better this time around. And with management revealing that it is making “great progress” to deliver sustainable growth and accelerate its “path to profitability”, the market will undoubtedly be looking for signs that this is the case.

What else?

Analysts at Citi also suggested investors look out for commentary on asset divestments with its update. Last month it commented:

The key highlight of Zip’s 2Q trading update was the sharp reduction in loss rates in the US that resulted in US becoming cash flow positive in Nov/Dec. With ~$80 million in available cash and further proceeds expected from the sale of RoW businesses (CitiE: $25 million in 2H23e), we see Zip as having ample cash to reach its cashflow breakeven target.

However, we believe Zip will need further capital when the focus shifts to growth, especially when considering that it lacks scale in the US. While the company has made strong progress in reducing losses, we remain Sell/High Risk rated as we continue to see risks to customer losses given slowing macro. We open a positive catalyst watch as we expect an update on the proceeds from selling RoW businesses which could boost balance sheet.

The post Own Zip shares? Here’s an earnings preview appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the 10 most shorted ASX shares this week
• Why Baby Bunting, Integral Diagnostics, Pilbara Minerals, and Zip shares are falling
• ASX BNPL shares deep in the red as ASIC turns up the regulatory heat
• Why is the Zip share price rocketing 7% today?
• Here are the 10 most shorted ASX shares

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 positions in and has recommended Zip Co. 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.

from The Motley Fool Australia https://ift.tt/dBwCE2X

The S&P/ASX 200 Index (ASX: XJO) had a decent start to the week, gaining 0.06% to close at 7,351.5 points.

It was driven higher by the S&P/ASX 200 Financials Index (ASX: XFJ) which rose 0.9% today amid earnings from Bendigo and Adelaide Bank Ltd (ASX: BEN) and NIB Holdings Ltd (ASX: NHF).

The former stock rose 1.9% after posting a 49% just in a half-year profit while the latter tumbled 11.6% despite growing its interim dividend by 18%.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) fell 1% despite a strong performance from the Ampol Ltd (ASX: ALD) share price. Shares in the fuel refiner and distributor lifted 1.7% after it posted record 2022 earnings.

The sector’s suffering followed a rough Friday for oil prices. After the Aussie market shut for the week, the Brent crude oil price fell 2.5% to US$83 a barrel while the US Nymex crude oil price dropped 2.7% to US$76.34 a barrel.

But which ASX 200 share posted the biggest gain on the index today? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top-performing ASX 200 share was none other than Inghams Group Ltd (ASX: ING). It gained 11.7% to close at $3.06 after a number of brokers upgraded the stock.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Inghams Group Ltd (ASX: ING)	$3.06	11.68%
QBE Insurance Group Ltd (ASX: QBE)	$14.92	3.68%
Kelsian Group Ltd (ASX: KLS)	$6.39	3.4%
Super Retail Group Ltd (ASX: SUL)	$13.24	2.64%
Challenger Ltd (ASX: CGF)	$7.57	2.44%
Champion Iron Ltd (ASX: CIA)	$7.67	2.4%
Link Administration Holdings Ltd (ASX: LNK)	$2.14	2.39%
Orora Ltd (ASX: ORA)	$3.50	2.04%
Reliance Worldwide Corporation Ltd (ASX: RWC)	$3.55	2.01%
Bendigo and Adelaide Bank Ltd (ASX: BEN)	$9.79	1.87%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why Inghams, Kelsian, Nuix, and Perenti shares are racing higher
• Bendigo Bank share price volatile amid 50% profit boost
• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX 200 shares today
• Why A2 Milk, Piedmont Lithium, QBE, and Super Retail shares are racing higher

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 Link Administration, Reliance Worldwide, and Super Retail Group. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank and Super Retail Group. The Motley Fool Australia has recommended Challenger, NIB Holdings, Orora, and Reliance Worldwide. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/bVh5tWD