Macquarie shares soar 21% to a 52-week high: Buy, sell or hold?

Macquarie Group Ltd (ASX: MQG) shares closed 1.35% higher at a 52-week high of $235.13 a piece at the close of the ASX on Wednesday afternoon.

Wednesday’s uptick follows a month-long share price rally which has seen the stock jump 21.2% in value. They’re now up 15.4% for the year to date and 30.5% higher than this time last year.

What has pushed Macquarie shares higher over the past month?

Macquarie is the fifth-largest ASX 200 bank by market capitalisation, but it’s more than just a bank. 

Macquarie provides banking, financial, advisory, investment, and fund management services across 34 markets globally. That means it has exposure to commodities trading, infrastructure deals, asset management, and capital markets. 

The bank also makes around two-thirds of its money internationally, which reduces the risk of being too focused on one region.

This means that, unlike many other Aussie banks, it isn’t reliant on lending margins and its diversity means that it can remain stable, or even benefit, when markets are going through periods of volatility like we’ve endured for the past couple of months.

Can Macquarie keep growing?

In February, the investment bank posted its third-quarter trading update for FY26, where it revealed the business has benefitted from strong quarterly growth. 

Macquarie Asset Management (MAM) reported assets under management (AUM) up 3% quarter on quarter, and Macquarie’s Banking and Financial Services (BFS) segment’s total deposits were up 6% quarter on quarter. 

The BFS home loan portfolio increased by 7%.

Stronger financial results combined with good market momentum has seen analysts hike their performance expectations across several of the bank’s divisions.

The Financial Review reports that Bloomberg consensus analyst estimates now point to Macquarie reporting a 2026 profit of $4.3 billion when Wikramanayake delivers the results next month. Macquarie’s annual profit peaked at $5.2 billion in 2023.

What do analysts expect from Macquarie shares going forward?  

TradingView data shows that brokers are incredibly bullish on the outlook for Macquarie shares over the next 12 months. Out of 15 analysts, 10 have a buy or strong buy rating on the investment bank’s shares, and another five have a hold rating.

The average target price is $242.95 a piece, which implies a potential 3.3% upside from here. But others think the shares could jump another 14.8% to $270.

The team at Morgan Stanley upgraded Macquarie shares earlier this week to an overweight (buy) rating with a price target of $270 per share. The broker said it thinks Macquarie is well-placed to benefit from volatility in commodity markets and still sees potential for a meaningful re-rating thanks to its positive earnings growth outlook. 

Analysts at Jarden also recently reiterated a buy rating on the shares with a price target of $240.

The post Macquarie shares soar 21% to a 52-week high: Buy, sell or hold? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.