S&P/ASX 200 Index (ASX: XJO) shares are likely to open lower today after a dramatic fall on Wall Street on Friday.
Stronger-than-expected US jobs data sparked fears of higher inflation and interest rates for the world’s biggest economy.
The Nasdaq Composite Index (NASDAQ: .IXIC) was smashed, falling 1,121 points or 4.2%.
That was the Nasdaq’s biggest daily fall in more than 12 months.
Investment research company, Hedgeye, said it was also the largest daily point decline in Nasdaq’s history, according to news.com.au.
Higher interest rates are a particular headwind for tech companies amid massive artificial intelligence (AI) capex spending.
The S&P 500 Index (SP: .INX) also fell heavily, down 200 points or 2.64%.
Meanwhile, here are three ASX 200 shares with new ratings today.
Megaport Ltd (ASX: MP1)
The Megaport share price rose 19% last week and set a 52-week high of $21.16 on Friday.
The gain followed news of four new AI infrastructure contracts worth $458.9 million.
To fund new capex required for the contracts, Megaport launched a $827.3 million entitlement offer.
UBS retained its buy rating and lifted its 12-month price target on Megaport shares from $16.70 to $24.20.
This implies a potential upside of 31% from Friday’s $18.48 close.
BHP Group Ltd (ASX: BHP)
The BHP Group Ltd (ASX: BHP) share price rose to a new record of $65.04 last Wednesday.
Then on Thursday and Friday, ASX 200 iron ore shares fell sharply on news of a major production increase at Simandou.
The massive Simandou project in Africa is the world’s largest undeveloped iron ore deposit.
The mine began operations in November, and its output is expected to change global demand/supply dynamics.
Last week, the iron ore price fell 6.3% to US$102 per tonne, a 7-week low.
UBS reiterated its hold rating on BHP shares with a $55.86 price target on Friday.
This suggests a 9% downside from Friday’s $61.24 close.
Bendigo and Adelaide Bank Ltd (ASX: BEN)
The Bendigo and Adelaide Bank share price closed at $10.12, down 1.6% on Friday.
Morgan Stanley tips a 5% earnings downgrade for ASX 200 bank shares due to Labor’s proposed capital gains tax (CGT) changes.
The broker says the changes could lead to softer mortgage growth and narrower margins in FY27.
Australia’s banks are highly exposed to residential housing, which is already softening due to higher interest rates.
Morgan Stanley has just reiterated its sell rating on Bendigo and Adelaide Bank shares.
The broker reduced its 12-month share price target from $10.10 to $9.80.
This implies a potential 3% downside from here.
The post Buy, hold, sell: Megaport, Bendigo Bank, BHP shares appeared first on The Motley Fool Australia.
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Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.