Author: therawinformant

The Telstra Corporation Ltd (ASX: TLS) share price ran out of steam on Tuesday and dropped lower.

The telco giant’s shares dropped 1.5% to $3.12.

Despite this, the Telstra share price is still up 16% since the start of the month.

Why is the Telstra share price surging higher in November?

Investors have been fighting to get hold of Telstra’s shares this month following the release of a big announcement at its investor day event.

At the event, the company announced a proposed restructuring which would create three separate legal entities.

Telstra’s CEO, Andrew Penn, believes the restructure will allow the company to take advantage of potential monetisation opportunities for its infrastructure assets which could create additional value for shareholders.

The restructure will see Telstra split up into InfraCo Fixed, InfraCo Towers, and ServeCo.

InfraCo Fixed would own and operate Telstra’s passive or physical infrastructure assets. These are the ducts, fibre, data centres, subsea cables, and exchanges that support its fixed telecommunications network.

The InfraCo Towers business would own and operate Telstra’s passive or physical mobile tower assets. Though, Telstra intends to monetise these assets over time given the strong demand and compelling valuations for this type of high-quality infrastructure.

Finally, ServeCo, which is the core business, would continue to focus on creating innovative products and services, supporting customers and delivering the best possible customer experience. It would also own the active parts of its network.

This includes the radio access network and spectrum assets, to ensure that Telstra continues to maintain its industry leading mobile coverage and network superiority.

Can the Telstra share price go higher?

One leading broker that still sees meaningful upside for the Telstra share price is Goldman Sachs.

It reiterated its buy rating and $3.75 price target on the company’s shares following the announcement of the aforementioned plan.

This price target implies potential upside of over 25% including dividends over the next 12 months.

Commenting on plans, Goldman said: “We believe the update from Telstra will be viewed positively, given: (1) it reflects a greater willingness to monetize its attractive infrastructure assets to create shareholder value; and (2) underlying earnings trends, particularly in mobile, which looks to be trending favorably, supporting the improved FY23 ROIC target.”

“This supports our positive view on Telstra, which continues to be predicated on: (1) A positive mobile inflection approaching, which typically drives outperformance; (2) The 16cps dividend is a sustainable, and could be supplemented by meaningful TowerCo proceeds; and (3) Significant Infrastructure value, which could be crystallized over time as we head towards NBN privatization,” it concluded.

More reading

• 2 ASX dividend shares to buy today for income
• Macquarie (ASX:MQG) picks best ASX stocks to buy for 2021 post-COVID recovery
• Aussie companies blast ‘knee-jerk’ COVID-19 border closures
• ASX 200 Weekly Wrap: ASX continues to hit post-COVID highs
• These ASX dividend shares offer yields 8 times greater than term deposits

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. 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 Why the Telstra (ASX:TLS) share price can go even higher from here appeared first on Motley Fool Australia.

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It’s hard to know which ASX shares are the best to buy right now. The coronavirus pandemic is still eliciting massive uncertainties in both the economy and society. As such, the investing world is still arguably very much ‘in-flux’.

Luckily, there’s no penalty for receiving (or following) the recommendations of experts in this space. So here are 2 ASX shares that analysts at the Motley Fool rate as ‘buys’ today.

2 of the best ASX shares to buy now

Premier Investments Limited (ASX: PMV)

Premier Investments might not be a company you’ve heard of. But it’s far more likely you’d be familiar with some of its store brands.

Premier owns a stable of successful Aussie retailers, including stationary seller Smiggle, clothing shops Just Jeans and JayJays, as well as the purveyor of high-end sleepwear Peter Alexander.

One might be worried about the prospects of investing in a retail company in 2020. But Premier’s performance this year arguably puts any of these fears to rest.

Back in September, the company released it’s full-year results for the 12 months to 25 July 2020.  Despite the pandemic, Premier Investments thrived over the year, posting a 29% increase to net profits. This was largely driven by online sales, which soared almost 49% over the period.

Premier also maintained it’s 70 cents per share dividend from 2019 in 2020. Premier Investments is currently rated as a ‘buy’ in the Motley Fool’s ‘Everlasting Income’ service.

Macquarie Group Ltd (ASX: MQG)

Macquarie Group is routinely called a ‘bank’, and is even sometimes lobbed in with the big four like Commonwealth Bank of Australia (ASX: CBA) as the ‘ASX’s fifth bank’.

But the reality is Macquarie is not your typical ASX banking share.

It does offer mortgages, bank accounts, credit cards and loans like CBA and the others. But most of Macquaries’ earnings come from other spheres, such as asset management (Macquarie offers a range of managed funds), commodity trading and investment banking.

This makes it less vulnerable to factors that negatively affect the other ASX banks, like a sluggish economy, low credit growth and low interest rates.

Macquarie has done very well for its investors over the past few months. Macquarie Group shares are up more than 94% since 23 March, and up 10% in November so far alone. 

Analysts at the Motley Fool’s ‘Share Advisor’ service, as well as the ‘Dividend Investor’ and ‘Everlasting Income’ services, currently rate Macquarie Group as a ‘buy’ today.

More reading

• Macquarie (ASX:MQG) picks best ASX stocks to buy for 2021 post-COVID recovery
• Aussie companies blast ‘knee-jerk’ COVID-19 border closures
• ASX 200 Weekly Wrap: ASX continues to hit post-COVID highs
• 3 shares that have reacted adversely to vaccine news
• JB Hi-Fi (ASX:JBH) share price sinks lower on broker downgrade

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Premier Investments 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.

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The S&P/ASX 200 Index (ASX: XJO) went up again today, rising by 0.2% to 6,498 points.

Another promising vaccine

US company Moderna has said that its COVID-19 vaccine is 94.5% effective. The effectiveness rate is similar to the Pfizer rate of 90%.

However, a key difference is that Moderna’s vaccine can be stored at regular fridge temperatures for many weeks, which will help with its distribution. Pfizer’s vaccine has to be stored at around minus 80C.

Dr Fauci, a leading American infection specialist said: “The vaccine is really the light at the end of the tunnel”.

The company thinks it will have enough required safety data by next week and will then apply for emergency use authorisation before the end of the year.

International share markets climbed in reaction to this additional good news. The ASX 200 went higher as well.  

Afterpay Ltd (ASX: APT)

It has been a busy week of announcements for Afterpay. Yesterday it responded to the ASIC report into the buy now, pay later industry.

Today it held its AGM. The company highlighted that it will be increasing its investments to achieve a number of outcomes. It wants to enhance its platform and continue to grow its people resources. Afterpay wants to pursue co-marketing opportunities and invest with its retail partners. It wants to consolidate its market-leading position in existing markets. Afterpay also aims to grow into new markets faster and leverage an early mover advantage.

The buy now, pay later business also announced that both Anthony Eisen and Nick Molnar would be co-CEOs of the ASX 200 company.

Afterpay co-CEOs Anthony Eisen and Nick Molnar commented: “Since we founded Afterpay we have always been aligned and excited about the opportunity to create a globally relevant, customer centric business. Not only are we well on our way to achieving this, we are accelerating our efforts to leverage the momentum we have generated.

“The decision to become co-CEOs is a logical one considering our global expansion plans and ambitious long term goals. We are both committed to leading the business over the long term, and driving our strategy to continue generating value for shareholders.”

The Afterpay share price fell by 5.4% today.

Charter Hall Group (ASX: CHC)

The Charter Hall share price fell around 6% today.

The property business announced that its wholesale partnership LWHP, which comprises VFMC, Telstra Super and Charter Hall as partners, acquired a $353 million portfolio of six Bunnings assets located in metro markets.

The portfolio of Bunnings Warehouse retail stores was acquired with a yield of 4.63%. The portfolio, 85% of which is located in Sydney, Melbourne and Brisbane, has a weighted average lease expiry (WALE) of 10 years and 2.5% annual rent reviews.

Charter Hall managing director and CEO David Harrison said: “We are proud to further expand our strong relationship with Wesfarmers Ltd (ASX: WES) and Bunnings Group. Across the Charter Hall platform we now have in excess of $2.4 billion invested in 59 Bunnings stores, 50 of which are located in metropolitan locations. This transaction represents our seventh Bunnings portfolio acquired since 2006 when we first recognised the strength of the Bunnings business, the relatively low rents per square metre of lettable area and the large prime sites Bunnings typically occupy.”

LWHP fund manager Ben Ellis explained that the partnership had been one of the most successful partnerships delivered an internal rate of return since inception which has exceeded 15% per annum.

More reading

• Leading broker warns that US dollar could face bear market crash in 2021
• Charter Hall (ASX:CHC) share price lower despite Bunnings acquisitions
• Why the Austal (ASX:ASB) share price is edging higher today
• Flight Centre and Webjet were among the most traded shares on the ASX last week
• Is buy now, pay later (BNPL) giving Aussies a headache?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and 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.

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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below.

Here’s why these brokers are bearish on these ASX shares:

Evolution Mining Ltd (ASX: EVN)

According to a note out of Macquarie, its analysts have downgraded this gold miner’s shares to an underperform rating and cut the price target on them to $5.30. The broker believes that the US 10-year bond yield has now bottomed and expects the yield curve to continue to lift. In light of this, it has cut its medium term gold price forecasts meaningfully. This has led to earnings downgrades for Evolution and other gold miners. The Evolution share price is trading at $5.71 on Tuesday.

Goodman Group (ASX: GMG)

A note out of Goldman Sachs reveals that its analysts have retained their sell rating and $12.24 price target on this property company’s shares. The broker has been looking into the industry and continues to believe its shares are expensive in comparison to peers. It notes that Goodman is targeting earnings per share growth of 9% this year. After which, based on executive remuneration, the company is targeting 6% to 9% per annum growth over the medium term. It doesn’t believe this level of growth justifies the premium its shares trade at. The Goodman share price is changing hands for $18.72.

National Australia Bank Ltd (ASX: NAB)

Analysts at Morgan Stanley have downgraded this banking giant’s shares to an underweight rating with an improved price target of $20.10. While the broker expects dividends to start their recovery in 2021 and notes that NAB has a strong capital position, it sees downside risks to margins and loan growth forecasts. In light of this and its strong share price recovery, it has downgraded its shares today. The NAB share price is trading at $21.83 this afternoon.

More reading

• Leading broker warns that US dollar could face bear market crash in 2021
• Why Afterpay, Goodman, MedAdvisor, & PointsBet shares are dropping lower
• Aussie companies blast ‘knee-jerk’ COVID-19 border closures
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 Weekly Wrap: ASX continues to hit post-COVID highs

Motley Fool contributor James Mickleboro 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.

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The Webjet Limited (ASX: WEB) share price is continuing to march higher today, up 2.0% in afternoon trading. Today’s gains follow on the 18% rise posted last week, which sees the Webjet share price up 48% so far in November.

By comparison the S&P/ASX 200 Index (ASX: XJO) is up 9.7% so far this month.

However, while the ASX 200 is now only down 2.9% year to date, the Webjet share price is still 45.6% lower, despite November’s meteoric rise. That’s because the company is still battling back from seeing its shares lose more than 77% in the early months of the COVID-19 breakout.

What does Webjet do?

Headquartered in Melbourne, Webjet is a digital focused travel agency operating in Australia and New Zealand, with customers across the global consumer and wholesale markets.

Webjet’s business consists of a B2C division comprising the Webjet, Online Republic and WebBeds brands, and a B2B division comprising the Lots of Hotels, Sunhotels and FIT Ruums brands. The company’s operations are primarily online/technology-based.

Webjet shares first listed on the ASX in 1997.

Why is the Webjet share price rallying?

The Webjet share price is taking off for much the same reason it tanked earlier this year. Or the opposite reason, to be more precise.

When the pandemic swept across the globe, domestic and international travel came to a virtual standstill. Travel related shares like Webjet, Qantas Airways Limited (ASX: QAN) and Flight Centre Travel Group Ltd (ASX: FLT) took some of the biggest losses.

Travel shares have also been some of the laggards during the wider market rebound. Many investors have remained on the sidelines, wary that the unknown new virus could thwart humanity’s best efforts at developing a vaccine and indefinitely stall the return of international travel.

Those fears were partly put to rest last week when Pfizer Inc. (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) announced that their vaccine has proven 90% effective at preventing symptomatic coronavirus infections.

Investor anxiety over the travel sector was further eased overnight, after Moderna Inc (NASDAQ: MRNA) reported its vaccine could top those results, proving to be 94.5% effective in late-stage trials.

With investors now hopeful that domestic and global travel will reopen much faster than anticipated, the Webjet share price has been one to benefit.

More reading

• Flight Centre and Webjet were among the most traded shares on the ASX last week
• Macquarie (ASX:MQG) picks best ASX stocks to buy for 2021 post-COVID recovery
• Aussie companies blast ‘knee-jerk’ COVID-19 border closures
• The ASX shares to shine during AND after the COVID-19 recovery
• The Qantas (ASX:QAN) share price soared 12% higher last week

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. 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 Why the Webjet (ASX:WEB) share price is up 48% in November appeared first on Motley Fool Australia.

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Owning ASX dividend shares that pay you a cash yield can be a wonderful experience. But in today’s near-zero interest rate environment, it has become even more important to aim for yield in one’s ASX share portfolio (if income is part of your investing objectives anyway).

Many investors are struggling with the realities of TINA these days – which stands for ‘There Is No Alternative’. Since interest rates are just 0.1% as of this month, investors looking for any kind of yield on capital pretty much have to turn to the share market (despite the risks). That’s because cash and bonds no longer provide any real returns at a cash rate of 0.1%.

So here are 2 ASX dividend shares that Motley Fool analysts rank as ‘buys’ today

2 ASX dividend shares to buy today for income

Transurban Group (ASX: TCL)

Transurban Group is Australia’s largest toll-road operator. If you’ve driven on a toll road in Sydney, Melbourne or Brisbane recently, chances are you paid Transurban for the privilege. The company owns most of Sydney’s tolled motorways. That includes a stake in the mammoth WestConnex project, which is on track to be completed over the next few years. It is also benefitting from the recent opening of the ‘NorthConnex’ tunnel, which bypasses a well-known Sydney bottleneck.

Transurban was hit by the coronavirus lockdowns earlier in the year, which forced it to cut its final dividend payout this year to 16 cents a share (down from 30 cents in 2019). Even so, Transurban still offers a trailing yield of 3.18% on current pricing. Transurban is currently rated as a ‘buy’ by the Motley Fool’s Everlasting Income service.

Telstra Corporation Ltd (ASX: TLS)

Despite the Telstra share price rising almost 10% over the past month, the company still offers a hefty dividend on current pricing. Telstra paid out 16 cents per share in fully franked dividends in 2020, a payout level it is also aiming to maintain in 2021 and beyond. That gives Telstra shares a trailing yield of 5.13% (7.33% grossed-up) at the share price of $3.13.

Telstra has been making waves recently with the announcement of a major restructuring last week. Investors have evidently been impressed by the InfraCo Towers, InfraCo Fixed and ServeCo divisions that Telstra will be split into. Well, judging by the recent share price movements anyway. There is speculation that the restructuring will allow Telstra to buy the national broadband network back off the government sometime in the future as well.

Telstra is also currently rated as a ‘buy’ by the analysts at the Motley Fool’s Everlasting Income service, as well as our Dividend Investor service.

More reading

• Macquarie (ASX:MQG) picks best ASX stocks to buy for 2021 post-COVID recovery
• Aussie companies blast ‘knee-jerk’ COVID-19 border closures
• ASX 200 Weekly Wrap: ASX continues to hit post-COVID highs
• These ASX dividend shares offer yields 8 times greater than term deposits
• Top brokers name 3 ASX shares to buy next week

Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of Transurban 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.

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More reading

• Top fundie, Wilson, names ASX shares to buy
• Here’s what big brokers think about the Commonwealth Bank (ASX:CBA) share price 
• Top brokers name 3 ASX shares to buy next week
• 3 ASX shares rated as buys by brokers
• Why InvoCare, Nine, Telstra, & Wesfarmers shares are storming higher

Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA 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 Why REA Group (ASX:REA) share price is trading lower after AGM appeared first on Motley Fool Australia.

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The US dollar has been losing ground since the onset of the COVID‐19 crisis but Citigroup warns it’s facing a much bigger retreat in 2021.

This doesn’t only have big implications for currency traders but for everyday ASX investors as such a big move will impact on ASX stock performance.

Citigroup thinks the US dollar is likely to drop as much as 20% in the new year if a COVID vaccine becomes widely available, reported Bloomberg.

A retreat of 20% or more from a peak is considered a bear market.

US dollar in bear market face-off

The greenback has already lost around 11% against a basket of other major currencies since it peaked in March. The drop against the Australian dollar is more dramatic at close to 30%!

An effective treatment against COVID will see the US dollar slide further as global economic activity will rebound strongly.

The safe haven status of the US dollar means investors tend to buy it when fearful and sell when greed returns.

Australian battler gaining ground in 2021

Citigroup is encouraging investors to buy the Aussie and the Norwegian krone as these commodity-linked currencies will benefit from an economic recovery.

But vaccines aren’t the only factor pressuring the US currency. The broker believes the US Federal Reserve will stay dovish even as economic conditions normalise.

The rest of the world is also tipped to grow faster than the US and that will prompt investors to rotate out of US assets and into international assets.

History doesn’t repeat but rhymes

This sets us up for a possible repeat of 2001, which marked the start of a multi-year decline in the US dollar with China joining the World Trade Organisation.

This triggered a wave of globalisation that pushed trade volumes higher and leaving the US behind due to its closed economy, according to Citi.

Experts are feeling more confident that an effective treatment against coronavirus can be found. The latest trial result from Moderna Inc (NASDAQ: MRNA) that showed a 94.5% success rate is a big reason for the optimism.

Morderna’s results follows Pfizer Inc.’s (NYSE: PFE) promising trial and there are around 200 drug candidates under development.

ASX stocks that will lose out from a weaker US dollar

If the vaccine heralds the start of a new structural decline in the greenback like Citi believes, ASX stocks with large US dollar exposure will feel the squeeze when earnings are translated back into Australian dollars.

Some of these stocks include the James Hardie Industries plc (ASX: JHX) share price, Reliance Worldwide Corporation Ltd (ASX: RWC) share price, Amcor CDI (ASX: AMC) share price and Afterpay Ltd (ASX: APT) share price.

ASX stocks that benefit from a weaker greenback

On the flipside, importers that pay for goods in US dollars will benefit. These include retailers like the Reject Shop Ltd (ASX: TRS) share price and Nick Scali Limited (ASX: NCK) share price.

Gold stocks like Ramelius Resources Limited (ASX: RMS) share price and Evolution Mining Ltd (ASX: EVN) share price should also benefit.

A weaker US dollar is supportive of gold. As long as bond yields do not rise materially, ASX gold stocks should continue to do well in 2021.

More reading

• Flight Centre and Webjet were among the most traded shares on the ASX last week
• Is buy now, pay later (BNPL) giving Aussies a headache?
• Why Afterpay, Goodman, MedAdvisor, & PointsBet shares are dropping lower
• ASX 200 up 0.35%: Moderna vaccine success, Afterpay update, Westpac upgraded
• Afterpay (ASX:APT) share price lower despite leadership and AGM update

Brendon Lau owns shares of Evolution Mining Limited and James Hardie Industries plc. Connect with me on Twitter @brenlau.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Reliance Worldwide Limited. The Motley Fool Australia owns shares of and has recommended Amcor Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Reliance Worldwide 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.

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The BOD Australia Ltd (ASX: BDA) share price is on the run today following a positive update from the company regarding an uptick in sales. During the opening minutes of today’s market, shares in the cannabis healthcare company rose as high as 54 cents. However, at the time of writing, the BOD share price has slightly retreated to 51 cents, up 4.1% so far today.

Let’s take a look and see how BOD has performed so far in the first quarter of FY21.

What’s driving the BOD share price?

The BOD share price is marching higher today after the company reported strong medicinal cannabis sales during the month of October.

In total, 755 MediCabilis prescriptions were filled, representing an increase of 106% in monthly prescription volumes since July 2019. The surge in sales was a part of a record purchase order received during the first quarter of FY21 for 2,630 units.

The company noted that since January this year, over 4,400 prescriptions have been filled. This marks a 124% uplift on 2019 calendar year volumes, which received 1,959 orders.

BOD stated that the ongoing upward trajectory in prescription volumes has significantly boosted revenue. In addition, the company said that it’s seeing repeat customers account for 60% of October volumes, reinforcing patient satisfaction.

Dominant market share

Supported by the surge in demand for its MediCabilis product, BOD revealed its market share has amplified. The company reported that it now has 57% market share in full-plant, high CBD products in Australia.

Furthermore, BOD anticipates that robust sales will continue over the coming months due to increased brand recognition. This follows the company’s nationwide clinical observation study that was announced in July this year.

CEO commentary

BOD CEO, Ms Jo Patterson, commented on the sales growth recorded last month, saying:

While MediCabilis is being prescribed for a range of chronic conditions, we are currently achieving strongest uptake amongst patients suffering from chronic pain and anxiety. These conditions require the use of a pharmaceutical grade, standardised and consistent product, which is one of the key advantages of MediCabilis.

Strong demand for our MediCabilis product range in Australia will continue to add to our growing revenue profile and we are confident that sales will continue to increase.

About the BOD share price

The BOD share price has been storming higher since March and is now beginning to approach its all-time high of 64 cents reached in July, 2019.

Recent developments, such as the company entering the Netherlands market and attaining record orders, have presumably been pushing the BOD share price higher.

BOD is hopeful that, as it seeks to expand its offering to new geographical markets, this will lead to further growth opportunities.

More reading

• BOD (ASX:BDA) share price soars 8% on product launch

Motley Fool contributor Aaron Teboneras 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.

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IT services provider Cosol Ltd (ASX: COS) has announced some positive outlook for its business at the company’s annual general meeting (AGM) today. The Cosol share price jumped up 4.41% to 71 cents in afternoon trade today. On a year-to-date basis, the company’s share price has risen by more than 245%, making it one of the top newly listed shares on the ASX.

Key metrics from Cosol’s AGM

More reading

• Here are the 3 best performing IPO shares in 2020

Motley Fool contributor Eddy Sunarto 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.

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