With the All Ordinaries Index (ASX: XAO) up a healthy 0.3% in afternoon trade on Wednesday, we turn our attention to three ASX All Ords shares that were just rerated by leading brokers.
Two received upgrades, while one was downgraded.
(Broker data courtesy of The Australian.)
Two ASX All Ords shares getting broker upgrades
The first ASX All Ords shares earning a broker upgrade today is Infomedia Ltd (ASX: IFM), a software-as-a-service (SaaS) provider for the auto parts and servicing industry.
The Infomedia share price has been on a downward trend since 10 April but remains up 9.0% in 2024.
Shares are down 1.75% today, trading for $1.57 apiece. At that price, Infomedia shares trade on a fully franked trailing dividend yield of 2.6%.
Bell Potter sees significant upside potential for the company. The broker raised Infomedia shares to a buy rating with a $1.90 price target. That’s 21% above current levels.
The second ASX All Ords share getting a broker upgrade is Cooper Energy Ltd (ASX: COE).
Shares in the oil and gas stock are getting hammered today, down 8.2%, trading for 20 cents apiece.
This follows a 4.4% fall yesterday when Cooper Energy released an investor briefing.
On the positive front, the company reaffirmed its FY 2024 guidance. Management is forecasting production of 60.5 TJe/d to 64.0 TJe/d, with production expenses to fall between $57 million and $63 million. Capital expenditure is expected to be $240 million to $280 million.
Canaccord appears to believe the big two-day sell-off is unwarranted. The broker raised Cooper Energy to a buy rating with a 28-cent price target. That represents a potential 40% upside from current levels.
Despite the recent retrace, the ASX All Ords share remains up 57.7% in 2024.
And one stock downgraded
Which brings us to the ASX All Ords share getting a broker downgrade, Whitehaven Coal Ltd (ASX: WHC).
Shares in the ASX coal stock are taking a beating today, down 2.9% to $8.01 apiece.
Longer-term, the Whitehaven share price is up an impressive 37.8% over 12 months. The coal miner also pays some juicy dividends. At the current price, this ASX All Ords share trades on a fully franked dividend yield of 6.1%.
While CSLA cut Whitehaven to an accumulate rating, the broker’s $9.70 price target represents a 21% potential upside from current levels.
As always, if you’re unsure of how or where to invest your money, seek expert advice.
The post 3 ASX All Ords shares just rerated by top brokers appeared first on The Motley Fool Australia.
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More reading
- Up 40% in a year, why this ASX All Ords stock just hit a new 52-week high
- Why Black Cat, Brainchip, Cooper Energy, and Lovisa shares are dropping today
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- ASX 200 coal stocks sink amid ‘very negative message’ from Queensland government
- 1 ASX 200 stock that turned $10,000 into $72,756 in just 3 years
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 Infomedia. The Motley Fool Australia has recommended Infomedia. 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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