Stock Pick

  • Leading brokers name 3 ASX 200 shares to buy right now

    Buy Shares

    With so many shares to choose from on the S&P/ASX 200 Index (ASX: XJO), it can be hard to decide which ones to buy.

    The good news is that brokers across the country are doing a lot of the hard work for you.

    Three top shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

    Sydney Airport Holdings Pty Ltd (ASX: SYD) 

    According to a note out of Goldman Sachs, its analysts have reiterated their buy rating and $7.00 price target on this airport operator’s shares following its annual general meeting. The broker believes that management’s commentary fits with its expectations for a staged recovery in passenger volumes over the medium term. In light of this, it believes Sydney Airport’s shares are cheap at the current level. I agree with Goldman Sachs and would be a buyer of its shares today.

    TPG Telecom Ltd (ASX: TPM)

    Analysts at Morgans have upgraded this telecommunication company’s shares to an add rating with an improved price target of $9.14. The broker sees a lot of positives in its merger with Vodafone Australia. It expects it to benefit from cost savings and their combined cash flows which can be used for capital expenditure activities. While it isn’t my top pick in the industry, I do think Morgans makes some great points and TPG Telecom could be worth a closer look.

    Wesfarmers Ltd (ASX: WES)

    A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating but cut the price target on this conglomerate’s shares slightly to $39.40. According to the note, the broker believes the conversion of Target stores into Kmart stores is a good move and could give its earnings a big boost in the future. It also believes the Catch business is well-positioned for growth after adding Kmart and Target goods to its marketplace. While Wesfarmers’ shares have now pushed beyond this price target, I would still be a buyer with a long term view.

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    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 Leading brokers name 3 ASX 200 shares to buy right now appeared first on Motley Fool Australia.

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  • ASX retail share jumps 13% after announcing bumper online sales growth

    The City Chic Collective Ltd (ASX: CCX) share price has taken off in early trade this morning on the back of a COVID-19 update. The ASX retail share announced strong online sales growth, profitability through the pandemic, and the staged re-opening of stores across Australia and New Zealand.

    City Chic is a global, omnichannel retailer that specialises in plus-size women’s apparel, footwear and accessories. It is a collective of customer-led brands, including City Chic, Hips & Curves, and Avenue, the latter of which was acquired towards the end of last year.

    The company’s omnichannel model comprises a network of more than 100 stores across Australia and New Zealand, multiple websites operating in Australasia and the US, and wholesale partnerships with major retailers, including Nordstrom, ASOS, and Macy’s.

    What did City Chic announce?

    One of the key takeaways from this morning’s announcement is that City Chic has managed to trade profitably through the period of COVID-19-related restrictions.

    On 27 March, City Chic made the move to temporarily close its brick-and-mortar stores. However, being an omnichannel retailer with online contributing two-thirds of its global sales, most of City Chic’s business has continued to operate. 

    Notably, the company revealed 57% online sales growth during the store closures compared to the same period last year.

    City Chic has been adjusting its product mix to suit a change in customer behaviour, with strong buying of intimates, casual and streetwear offsetting weaker demand for ‘better-end dressing’. However, the retailer flagged it has been “more promotional” in order to manage cash flows and inventories, which has led to lower online gross margins.

    How has City Chic responded to COVID-19?

    Over the past 8 weeks, City Chic has implemented a number of measures to minimise the impact of the closure of its store network. With this, the retailer has driven working capital efficiencies, reduced head office costs, and deferred non-essential capital expenditure.

    Additionally, City Chic has negotiated reduced rents with a large majority of landlords, along with “market appropriate go-forward rents” while uncertainty relating to COVID-19 remains.

    The retailer notes it is in a strong financial position with minimal debt and significant headroom in its $40 million debt facility.

    Over the past 2 weeks, City Chic has trialled a number of stores to ensure it is able to open its store network with the appropriate safety and hygiene measures in place.

    After closing on Friday at a price of $2.44, City Chic shares jumped as much as 13.52% this morning to an intra-day high (so far) of $2.77. Pulling back somewhat to sit at $2.65 at the time of writing, the City Chic share price is back in positive territory for the year with a 4.74% gain year-to-date.

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    Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. 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 ASX retail share jumps 13% after announcing bumper online sales growth appeared first on Motley Fool Australia.

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  • ASX 200 up 1.7%: Flight Centre and Webjet rocket, Afterpay hits record high

    ASX share

    At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is on course to record a very strong gain. The benchmark index is currently up 1.7% to 5,589.3 points.

    Here’s what has been happening on the market today:

    Bank shares storm higher.

    The big four banks have started the week very strongly and are helping drive the ASX 200 higher. All four banks are in the black at lunch, but the standout performer has been the National Australia Bank Ltd. (ASX: NAB) share price. Its shares are up by a solid 2.75% at the time of writing as investors pile back into the sector.

    Travel shares charge higher.

    One of the best performing areas of the market on Monday has been the travel sector. The prospect of New Zealand opening its borders to Australian tourists appears to have given the sector a boost. The likes of Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB) are up 12.5% and 10%, respectively, at the time of writing.

    Afterpay hits a record high.

    The Afterpay Ltd (ASX: APT) share price has stormed to a record high of $47.48 on Monday. This appears to have been driven by positive investor sentiment and news that it has appointed a permanent Chair. Elana Rubin will has become the payments company’s Chair with immediate effect. She will retire from the ME Bank board in June, but remain as a Non-Executive Director for Telstra Corporation Ltd (ASX: TLS) and Slater & Gordon Limited (ASX: SGH).

    Best and worst ASX 200 performers.

    The best performer on the ASX 200 on Monday has been the Flight Centre share price with its 12.5% gain. Going the other way, the worst performer on the index on Monday has been the TechnologyOne Ltd (ASX: TNE) share price with a 3.5% decline. The enterprise software company’s shares have come under pressure since the release of its half year update last week.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited and Webjet Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Flight Centre Travel Group 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 ASX 200 up 1.7%: Flight Centre and Webjet rocket, Afterpay hits record high appeared first on Motley Fool Australia.

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