The bulls are back! The S&P/ASX 200 Index (Index:^AXJO) jumped a further 1.3% on Thursday – pushing the benchmark to a 12 week high.

We are likely to see more gains in the short-term too despite the market’s 29% gain since it hit a bear market bottom in late March.

More room for bulls to run

There are a few reasons for this, including an expected string of positive data from the gradual reopening of the global economy after the COVID-19 shutdown.

ASX shares certainly aren’t as cheap as they were in recent past, but there’s still value to be found for those who are yet to join in the party.

Testing positive in a good way

Testing and certification services provider ALS Ltd (ASX: ALS) is one that makes the cut, according to Morgans.

The broker reiterated it’s “add” recommendation on the stock after management posted its full year results yesterday.

“FY20 underlying financials met guidance despite COVID headwinds in Feb-Mar, suggesting Life Sciences [business] was tracking ahead of our expectations,” said the broker.

“We think the stock can keep running in-line with the re-opening of the global economy, and as it approaches the late July AGM where a critical trading update will be provided.”

The 6.1 cents a share dividend was also a positive surprise, although that was offset by a $90 million write-down of some underperforming businesses.

However, Morgans thinks the FY21 outlook for ALS is looking relatively bright considering the uncertainty caused by COVID-19.

The broker’s target price on the stock is $8.28 a share.

Strength in numbers

Meanwhile, JP Morgan reiterated its “overweight” rating on TPG Telecom Ltd (ASX: TPM) today as it believes there is good revenue upside potential for the telco post its merger with Vodafone Australia.

“There are a variety of revenue synergies that the company can pursue as a result of the merger and all are additive, with some potentially yielding as much as 30% further upside on a standalone basis,” said the broker.

These opportunities include fixed wireless broadband solution, fixed wireless data offload (used to cover holes in NBN coverage), cross selling NBN to Vodafone customers and cross selling mobile to TPG’s customers.

“While we currently don’t incorporate any of these opportunities in our estimates, adding them all together yields up to 85% further potential upside to our current DCF valuation,” added JP Morgan.

The broker’s current price target on the stock is $8.65 a share.

More reading

• Another sign the ASX 200 bull run is justified
• RBA governor says economy “doing better than was earlier feared”
• Why now could be a better time to buy the underperforming CSL share price
• ASX 200 bull market! Why this ASX fundie is getting nervous
• ASX 200 up 2.4%: Blackmores raises $92m, big four banks jump, Nearmap rockets

Motley Fool contributor Brendon Lau owns shares of TPG Telecom Limited. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Top brokers pick the latest ASX shares to buy today appeared first on Motley Fool Australia.

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There’s another sign that the S&P/ASX 200 Index (ASX: XJO) bull run is justified. The indicator was revealed by shopping centre giant Scentre Group (ASX: SCG).

What’s the good news?

The ASX 200 retail landlord released a media update today. Customer visitation at the week ending 24 May 2020 has returned to 80% of what it had been in May the year prior. The coronavirus cloud appears to be lifting. 

I think that’s impressive. Approximately 80% of stores are open across Australian Westfield Living Centres and 93% of stores are open across New Zealand Westfield Living Centres.

I imagine more people will want to visit shopping centres once they’re back to 100% open again.

Obviously seeing that Australia’s infection numbers are very low helps. But Scentre said that the safety and hygiene measures are also helping. Some of those initiatives include signage, PA announcements, availability of hand sanitiser and more frequent cleaning in-centre.

There are apparently three top things that we’re looking forward to as easing restrictions ease are: going out for a meal, spending time with loved ones and going out shopping. I think that’s obviously that’s good news for Scentre.

I’m thinking of all of the ASX retailers that sell at Scentre’s locations. Some of the beneficiaries could be Wesfarmers Ltd (ASX: WES), Woolworths Group Ltd (ASX: WOW), Coles Group Limited (ASX: COL), JB Hi-Fi Limited (ASX: JBH), Reject Shop Ltd (ASX: TRS), Lovisa Holdings Ltd (ASX: LOV), Premier Investments Limited (ASX: PMV), Myer Holdings Ltd (ASX: MYR) and so on.

Is Scentre a buy?

The Scentre share price is up 65% since 24 March 2020. I’m not sure how much it will keep recovering. There has been a shift to online sales over the past few months. I believe the return of shoppers to shopping centres is a good sign for Scentre, other retail landlords and the wider economy.

More reading

• RBA governor says economy “doing better than was earlier feared”
• Why now could be a better time to buy the underperforming CSL share price
• ASX 200 bull market! Why this ASX fundie is getting nervous
• ASX 200 up 2.4%: Blackmores raises $92m, big four banks jump, Nearmap rockets
• The next looming test for the ASX 200 bull market is just round the corner

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Wesfarmers Limited, and Woolworths Limited. The Motley Fool Australia has recommended Scentre Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Another sign the ASX 200 bull run is justified appeared first on Motley Fool Australia.

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If you’re looking to retire in the coming years, then now might be the time to start thinking about a retirement portfolio.

But which shares should you buy for it? If I were constructing a retirement portfolio, I would want it to have quality blue chips which pay dividends and have solid growth prospects.

With that in mind, here are three top options which I think could be part of a retirement portfolio:

Goodman Group (ASX: GMG)

I think Goodman Group would be a good option for a retirement portfolio. I believe the integrated commercial and industrial property group is well-positioned for growth over the next decade thanks to the strength of its portfolio. Goodman focuses on high-quality properties in key locations that it believes will deliver sustainable returns for investors. These include logistics and industrial facilities, warehouses, and business parks. One of the key attractions for me is its exposure to the ecommerce market through relationships with Amazon, DHL, and Walmart.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

Another share which I would add to a retirement portfolio is Sydney Airport. The airport operator’s shares have fallen heavily this year because of the pandemic. And while its airport is a ghost town right now, it won’t be long until it is full of life again. Domestic tourism looks set to start its recovery in the coming months, with international tourism likely to follow in 2021. I’m optimistic by the end of 2022 the passenger traffic at its airports will be approaching pre-pandemic levels. This should put the company in a position to pay dividends that equate to very generous yields based on today’s share price. As a result, I think it could pay to be patient with this one.

Wesfarmers Ltd (ASX: WES)

A final option to consider for a retirement portfolio is this conglomerate. I think the majority of Wesfarmers’ many businesses are well-placed for growth over the next decade. Not least the key Bunnings business which goes from strength to strength. In addition to this, with the company sitting on a mountain of cash, I don’t believe it will be long until it makes some earnings accretive acquisitions. All in all, I believe this leaves Wesfarmers well-positioned to grow its earnings and dividends consistently over the coming years.

More reading

• 3 ASX shares Warren Buffett couldn’t ignore today
• 1 key trait to look for with most top ASX growth shares
• 2 outstanding ASX 50 shares to buy today
• Is Wesfarmers in the buy zone?
• 3 easy rules for building a massive ASX share portfolio

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 3 ASX blue chip shares to put into your retirement portfolio appeared first on Motley Fool Australia.

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