Category: Stock Market

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with the smallest of gains. The benchmark index rose slightly to 7,665.1 points.

Will the market be able to build on this on Tuesday? Here are five things to watch:

ASX 200 expected to edge higher

The Australian share market is expected to edge higher on Tuesday despite a mixed start to the week on global markets. According to the latest SPI futures, the ASX 200 is poised to open the day 1 point higher. Wall Street was closed but the FTSE rose 0.2% and the DAX was down 0.15%.

BHP results

BHP Group Ltd (ASX: BHP) shares will be on watch today when the mining giant releases its half-year results. According to a note out of Goldman Sachs, its analysts are expecting the company to report first-half revenue of US$27,595.57 million. This will be an increase of 6.2% over the US$25,982 million that was reported a year ago. As for earnings, the consensus estimate is for US$1.43 per share. This is up 10% on the prior corresponding period.

Oil prices mixed

ASX 200 energy shares including Woodside Energy Group Ltd (ASX: WDS) and Karoon Energy Ltd (ASX: KAR) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.1% to US$79.27 a barrel and the Brent crude oil price is down 0.2% to US$83.30 a barrel. Trading was thin due to the US public holiday.

Megaport results

The Megaport Ltd (ASX: MP1) share price will be on watch today when the elasticity connectivity and network services interconnection provider releases its half year results. The company has already pre-released its results, reporting a 35% increase in revenue to $95 million and EBITDA of $30 million. All eyes will be on its guidance, which was unchanged despite the stronger than expected half.

Gold price rises

ASX 200 gold shares including Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could rise today after the gold price climbed overnight. According to CNBC, the spot gold price is up 0.25% to US$2,029.4 an ounce. Middle East tensions boosted the safe haven asset.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• This ASX 200 share is predicted to benefit from AI demand for years
• What are the pros and cons of buying BHP shares before the company reports?
• 5 things to watch on the ASX 200 on Monday
• How to build a $1 million superannuation fund

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Megaport. The Motley Fool Australia has recommended Megaport. 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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Fund manager Wilson Asset Management has named an appealing S&P/ASX 300 Index (ASX: XKO) stock that could be worth betting on. That business is Jumbo Interactive Ltd (ASX: JIN), an Australian lotteries retailer and provider of a software as a service (SaaS) platform for government and charity lottery operators.

Why does WAM like this ASX 300 stock?

The fund manager pointed out that the Jumbo Interactive share price has been rising recently because of a surge in lottery ticket sales for Powerball jackpots during the month.

WAM thinks the new players that Jumbo Interactive has attracted through this jackpot period can be converted into regular players, boosting customer numbers and this can increase revenue as a result.

The investment team wrote about the ASX 300 stock:

We believe that Jumbo Interactive is currently undervalued by the market with a net cash balance sheet providing plenty of scope for earnings-accretive acquisitions or capital management.

Recent trading update

At the annual general meeting (AGM), it said that its revenue for the four months to 31 October 2023 had grown 3% to $35 million.

It revealed the SaaS total transaction value (TTV) had increased 20% to $53.9 million in the first quarter, while managed services TTV increased to $66.1 million.

In terms of the outlook, with lottery retailing, it’s expecting an improved revenue margin following portfolio pricing changes which were announced in 2023.

The acquisitions are expected to see mid-to-high single-digit revenue growth.

For the group, the ASX 300 stock is expected to see underlying operating cost growth grow at a slower pace than revenue on a like-for-like basis.

Overall, it’s expecting to see strong free cash flow generation, which can enable a targeted dividend payout ratio of between 65% to 85% of statutory net profit after tax (NPAT). It’s looking at acquisitions, supported by “balance sheet strength and debt headroom.”

Jumbo Interactive share price snapshot

Since the start of 2024, the Jumbo Interactive share price has risen by 15%.

The post A fund manager is betting on this ASX 300 stock. Is it a buy? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX shares predicted to enjoy ‘strong growth’ in 2024 earnings
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor Tristan Harrison 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 Jumbo Interactive. The Motley Fool Australia has recommended Jumbo Interactive. 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 fortunes of ASX mining shares tend to be, generally, closely linked to how the global economy is faring.

That’s because demand for raw materials dies down during periods of low consumption, which pushes commodity prices lower. And that means less earnings for the miners.

So after a year or two of struggles, it’s not unreasonable to think that, with interest rate cuts possibly on the horizon, resources stocks could now have some upside as the economy improves.

Here are two such stocks that experts are fancying at the moment:

Lots of cash and gold bullion, with no debt

The Perseus Mining Ltd (ASX: PRU) share price has lost more than 31% since mid-April 2023.

Novus Capital stock broker John Edwards told The Bull that the company was “a profitable West African gold producer with three operating mines”.

“Perseus Mining guided to second half gold production of between 226,000 ounces and 254,000 ounces in fiscal year 2024 at an all-in-sustaining cost of between US$1,180 and US$1,340 an ounce.”

Edwards, who disclosed that he personally owns Perseus shares, is bullish on the mining shares.

“The company had available cash and a bullion balance of US$642 million and no debt at the end of the second quarter.”

He has a stock price target of $2.80, which is a whopping 58% upside from the current level.

According to CMC Invest, four out of seven analysts currently rate Perseus shares as a buy.

Lithium business is still profitable

Mineral Resources Ltd (ASX: MIN) shares have plunged almost 34% since last March.

BW Equities equities salesperson Tom Bleakley described the outfit as “a diversified mining services business”, which is also involved in producing iron ore and lithium in its own right.

And it’s the plummeting global prices for that battery material that’s keeping the stock price depressed.

A recent update reassured Bleakley, though.

“While lithium prices have nosedived, Mineral Resources’ January update showed its lithium operations are still profitable.”

“The iron ore price is buoyant.”

With batteries crucial to the transition to lower carbon emissions, this could be a buying opportunity for long-term investors.

“In our view, Mineral Resources is poised to benefit from any recovery in the lithium price.”

The post 2 battered ASX mining shares to buy for cheap right now appeared first on The Motley Fool Australia.

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More reading

• ASX mining shares up amid Labor plan to spend multibillions on renewables revolution
• 2 ASX lithium shares with cash to ride out the current depression
• Morgans names more of the best ASX 200 shares to buy in February
• 7 ASX lithium shares going gangbusters today
• These 3 ASX 200 shares just got some big broker upgrades!

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Living life is a lot more expensive these days, whether you’re a retiree or a 25-year-old. Australia’s age pension is generous compared to most countries, but it may not be enough.

The maximum normal pension basic rate per fortnight in Australia is $1,002.50, which is $26,065 annualised. The basic pension payment combined for a couple is $1,511.40 per fortnight, or $39.296.40 annualised. There is also a relatively small pension supplement and energy supplement which can add a bit more per fortnight.

Is that enough? How much do you need?

The AFSA Retirement Standard suggests for a modest lifestyle that a single retiree would need $32,417.48 annually, and a couple would need $46,620.05 annually. Those numbers are based on the retiree owning their house outright, which is certainly not a guaranteed thing.

I think there are a few ways that retirees can boost their income, though it’s worth checking to ensure that retirees don’t pass any asset limits.

Term deposits

If an investor is sitting with cash in the bank, I’d encourage them to ensure they’re getting a good return. There are savings accounts and term deposits that offer a rate that starts with a 5%, and lots that offer a high 4%.

Investors can get a solid, safe return these days from cash, so retirees should make sure they utilise that if they want the safety of cash.

ASX dividend shares

Investing in ASX dividend shares is one of my favourite ways to boost my passive income.

There are lots of companies within the S&P/ASX 200 Index (ASX: XJO) that pay appealing, fully franked dividends. Not only are the dividend yields attractive, but companies have the ability to grow their payouts over time if profit grows too.

Some ASX companies have long track records of dividend growth, such as Washington H. Soul Pattinson and Co. Ltd (ASX: SOL), Sonic Healthcare Ltd (ASX: SHL) and Brickworks Limited (ASX: BKW). Others (usually) offer a solid dividend yield and strong market power, such as Telstra Group Ltd (ASX: TLS) and Wesfarmers Ltd (ASX: WES).

REITs

We can also find real estate investment trusts (REITs) on the ASX, which allow us to invest in businesses that own large property portfolios across the country.

Commercial property can offer an attractive mix of yield, consistency and long-term rental income growth.

Some of my favourite REITs include farmland landlord Rural Funds Group (ASX: RFF), logistics and industrial property owner Centuria Industrial REIT (ASX: CIP), and healthcare property owner Healthco Healthcare and Wellness REIT (ASX: HCW).

ETFs

Owning an exchange-traded fund (ETF) could be useful for dividends because it means owning a basket of shares in a single investment. ETFs typically offer good diversification because they invest in a range of businesses and industries.

Some ETFs I’d be happy to own for income if I were a retiree include Vanguard Australian Shares Index ETF (ASX: VAS), the UK-focused ETF of Betashares FTSE 100 ETF (ASX: F100) and the India-focused Betashares India Quality ETF (ASX: IIND).

Owning a variety of assets as a retiree could make a lot of sense, boost income and help pay for retirement.

The post Retirees: Here’s how to boost your pension in 2024 appeared first on The Motley Fool Australia.

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More reading

• 2 ASX shares under $50 new investors can buy confidently
• Is the Telstra share price too low, after another strong set of results?
• Why I’d put Wesfarmers shares in my ultimate ASX dividend income portfolio in 2024
• Why these 3 top ASX 200 stocks grabbed the Motley Fool’s headlines this week
• 5 steps to becoming a milionaire with ASX shares

Motley Fool contributor Tristan Harrison has positions in Brickworks, Rural Funds Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Brickworks, Rural Funds Group, Telstra Group, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool Australia has recommended Sonic Healthcare. 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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Some people get a bit funny about buying ASX shares that have already risen significantly.

Their logic is that if it’s already soared, then the winnings are past it.

But this is flawed reasoning, not based on any fact.

Stocks do not have any memory. They don’t care whether they have headed up or down in the past.

All that matters are the prospects of the underlying business, and how attractive that looks to investors.

Keeping this in mind, here are two surging ASX shares that professional investors are recommending as buys right now:

Wheeling and dealing with an American giant

Generation Development Group Ltd (ASX: GDG) is not a name often heard in the financial media, but Novus Capital stock broker John Edwards is bullish on the life insurance provider.

“The recent move by GDG to partner with MetLife Inc (NYSE: MET), one of the biggest insurance companies in the world, brings GDG’s new LifeIncome annuities product into sharp focus,” Edwards told The Bull.

“GDG’s annuities product has been strengthened after an external quality of advice review was seen as positive.”

The company can also sell its product to industry superannuation funds, which bolsters member retention for those clients.

The market has been taking notice of Generation’s hot potential, sending the share price more than 65% higher since April.

“Total funds under management stood at $2.928 billion in December 2023, up 24% on the previous corresponding period.”

Edwards has a share price target of $3, which is a tidy 56% upside from the current valuation.

Making hay while rivals exit the industry

After years in the wilderness, is ‘buy now, pay later’ back in vogue?

If the Zip Co Ltd (ASX: ZIP) share price is anything to go by, it is.

The finance stock has climbed a jaw-dropping 226% since early October.

BW Equities equities salesperson Tom Bleakley noted the impressive numbers coming out of the business.

“The company delivered a strong 2024 second quarter result. Revenue of $225.6 million was up 26.1% on the prior corresponding period. 

“The revenue margin improved to 8.2% in response to competitors leaving the industry.”

For him, Zip shares are a buy because the BNPL industry is set to boom as the world recovers from rising interest rates and cost-of-living pressures.

“Zip is a growth story leveraged to a relatively strong consumer economy.”

The post 2 rocketing ASX shares you need to think about getting on board appeared first on The Motley Fool Australia.

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More reading

• Why Cettire, Dexus Industria, Pilbara Minerals, and Zip shares are jumping today
• Zip share price rises as investors buy now on takeover talk
• Up 150% in 3 months: It’s not too late to buy these 2 rebounding ASX stocks
• Zip share price surges 7% on quarterly cash flow report
• Why IDP Education, Karoon Energy, Liontown, and Zip shares are falling today

Motley Fool contributor Tony Yoo 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 Zip Co. The Motley Fool Australia has no position in any of the stocks mentioned. 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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We’re in the thick of ASX reporting season, some results have been positive and some have been rather disappointing. The ASX bank share sector hasn’t exactly been lighting up this February.

Reporting season is just as much about investor expectations for the financial numbers as it is about the actual growth (or decline) in absolute terms. For example, if a business is expected to report a profit decline of 20% and it only fell by 10% then that’s a win.

Similarly, if profit rises 5% but it was expected to go up 10%, then this is seen as a disappointment. Perhaps the market was expecting too much?

Profits go backwards

In the Commonwealth Bank of Australia (ASX: CBA) FY24 first-half result, the bank reported that statutory net profit after tax (NPAT) declined by 8% to $4.8 billion. It blamed banking competition and higher operating expenses.

The Westpac Banking Corp (ASX: WBC) FY24 first quarter saw $1.5 billion of net profit, which represented a 6% decline on the FY23 second-half quarterly average.

The Bendigo and Adelaide Bank Ltd (ASX: BEN) FY24 first-half result saw cash earnings after tax of $268.2 million, down 5% compared to the second half of FY23. It saw its total lending fall 0.7% amid “competitive market pressures”, while the net interest margin (NIM) fell 15 basis points (0.15%) to 1.83% because of “price competition in both lending and deposits and a higher level of liquid assets.”

We have seen the Reserve Bank of Australia (RBA) cash rate jump to 4.35%. While ASX bank shares did initially pass on the increases faster to borrowers than savers, things have changed. Competition has reduced bank profitability in margin terms.

Banks need to offer a much better interest rate to savers to attract their deposits. Lenders need to offer a good rate to borrowers to ensure they stay, and to win new borrowers, otherwise, banks will lose market share over time.

The higher interest rates have also led to lower demand for credit as well as rising arrears. The longer rates stay at this level, the worse things might get for arrears and bad debts for ASX bank shares. I’m not predicting catastrophe, just a return to a normalised level of bad debts for banks.

The real winners from higher interest rates seem to be savers.

What next for ASX bank shares?

The Bendigo Bank CEO Marnie Baker had a number of interesting comments about the situation:

The bank expects the official cash rate to remain at current levels for most of 2024 following the recent pause from the Reserve Bank. Inflationary pressures remain persistent but are moderating. The Australian economy is likely to outperform its peers over time, although we expect unemployment levels to rise in the short-term. Economic growth is likely to be very modest in financial year 2024 before showing improvement in financial year 2025.

Cost of living pressures will continue to present a challenge to Australian households.

Asset quality remains intact, and marginal increases in 90-day arrears in the Bank’s residential lending portfolio represent increased cost of living pressures experienced in some areas of the community. We expect bad debts to trend upwards and move towards longer-term averages over time. Our home loan customers remain well ahead of their repayments with 41% one year ahead of repayments. Pleasingly, more than 85% maintain a financial buffer.

Of course, that does suggest that close to 15% don’t have a financial buffer, so hopefully they are able to ride out this period. It is a very interesting time for ASX bank shares. I’m personally not expecting strong growth in the short term for the sector.

The post High rates, falling profits: Why are ASX bank shares losing out this reporting season? appeared first on The Motley Fool Australia.

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More reading

• Why are Westpac shares leaping ahead of rival ASX 200 bank stocks on Monday?
• You need to act fast if you want to receive the next CBA dividend
• Bendigo Bank share price tumbles on half-year earnings slump
• Westpac share price on watch following $1.8 billion quarterly profit
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank. 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 post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Why A2 Milk, APM, Boral, and Reliance Worldwide shares are pushing higher today
• Guess which ASX 200 stock is surging 9% on robust cash generation?
• Why are Boral shares outperforming the ASX 200 today?
• A2 Milk share price jumps 12% on solid half-year results

Motley Fool contributor Sebastian Bowen has positions in A2 Milk. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport, Reliance Worldwide, and Telix Pharmaceuticals. The Motley Fool Australia has recommended A2 Milk, Megaport, and Telix Pharmaceuticals. 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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This Thursday, lovers of ASX lithium shares might be glued to their computer screens to get a good look at the latest results from Pilbara Minerals Ltd (ASX: PLS).

The ASX’s largest lithium share is scheduled to report its latest earnings this Thursday, 22 February. And investors will no doubt be watching the Pilbara share price in the hopes that history won’t repeat itself.

Pilbara’s recent history when it comes to reporting earnings has indeed been a pleasant one.

Last August, the company gave investors a look at its full-year results for the 2023 financial year. As we covered at the time, these saw Pilbara report a 242% rise in revenues to $4.05 billion. That was alongside a 329% increase in underlying profits before tax to $2.27 billion.

These figures were possible thanks to PIlbara’s 607.5 kilotonnes of spodumene concentrate sales, which averaged a price of US$4,447 per tonne (up 87% at the time).

This set of results allowed Pilbara to pay out only its second-ever dividend payment to shareholders. That was a final dividend worth 14 cents per share. This payment complimented March’s interim (and inaugural)  dividend of 11 cents per share. Together, these payouts give Pilbara shares the 6.91% dividend yield the company trades on today.

Will Pilbara shares repeat last year’s success?

Memories of this earnings report are doubtless still fresh in the minds of Pilbara investors. Despite the seemingly positive numbers listed above, the days following these earnings saw the Pilbara share price sink by almost 12%.

However, even the most misty-eyed optimists are probably not expecting a repeat performance of August’s earnings numbers this week.

Thanks to plummeting lithium prices, Pilbara will face a steep uphill climb to produce anything close to August’s figures.

Last week, my Fool colleague James went through ASX broker Goldman Sachs’ estimations of what Pilbara will report this week. And it certainly isn’t forecasting a case of history repeating itself.

Goldman’s analysts are expecting Pilbara to reveal revenues of $774 million for the half-year. That would be down 64% on what Pilbara reported for the first half of FY2023. The broker is also pencilling in net profits of just $324 million, down 74% on last year’s numbers.

Disappointingly for income investors, Goldman is also estimating that there will be no dividend at all this time around from the lithium stock.

As my colleague also discussed, Goldman’s numbers are significantly more pessimistic than the broader market consensus.

No doubt shareholders are hoping Goldman has missed the mark this time. If they have, and Pilbara surprises to the upside, shareholders may dodge another 12% sell-off. But we’ll have to wait and see exactly what Pilbara pulls out of its hat on Thursday to know if this optimism will be rewarded.

The post Pilbara Minerals shares could drop 12% on upcoming results if history repeats itself appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• 3 things ASX investors should watch this week
• Here are the top 10 ASX 200 shares today
• ASX mining shares up amid Labor plan to spend multibillions on renewables revolution
• Why Fletcher Building, GQG, Pilbara Minerals, and Tyro shares are climbing today

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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If you have room in your portfolio for some new additions, then it could be worth checking out the ASX 200 stocks listed below.

They have been named as buys by analysts and tipped to rise at least 18%. Here’s what you need to know about these top stocks:

Treasury Wine Estates Ltd (ASX: TWE)

The first ASX 200 stock to look at is Treasury Wine.

It is the wine giant that owns popular brands including Penfolds, Wolf Blass, 19 Crimes, and Blossom Hill. It also recently added to its portfolio with the acquisition of DAOU Vineyards for A$1.4 billion.

The team at Morgans is positive on the company. In response to its recent half-year results, the broker has retained its add rating with a $14.03 price target. This suggests upside of 20% for investors over the next 12 months.

Woolworths Limited (ASX: WOW)

Over at Goldman Sachs, its analysts believe that Australia’s largest supermarket operator could be an ASX 200 stock to buy.

The broker likes Woolworths due to potential market share gains driven by its dominant loyalty program and omni-channel advantage.

Last month, its analysts put a buy rating and $42.30 price target on the company’s shares. This implies potential upside of 18.5% for investors from current levels.

Xero Limited (ASX: XRO)

Another ASX 200 stock that Goldman Sachs is a fan of is cloud accounting platform provider Xero.

Goldman believes it has a multi-decade runway for growth thanks to its huge addressable market. It highlights that this comprises “100mn SMBs worldwide representing a >NZ$76bn TAM.”

The broker has a buy rating and $141.00 price target on its shares. This suggest a potential return of 23% for investors over the next 12 months.

The post Buy these top ASX 200 stocks for 18%+ returns appeared first on The Motley Fool Australia.

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More reading

• Here’s how the ASX 200 market sectors stacked up this week
• Brokers name 3 ASX shares to buy now
• Here are the top 10 ASX 200 shares today
• Treasury Wine shares rocket despite profit dive waiting for China tariff relief
• 3 ASX shares I think you’ll be glad you bought at these prices

Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Treasury Wine Estates. 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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With so many shares to choose from on the ASX, it can be difficult 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 ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Dicker Data Ltd (ASX: DDR)

According to a note out of Citi, its analysts have initiated coverage on this computer hardware and software distributor’s shares with a buy rating and $12.90 price target. The broker believes we are approaching the bottom of the cycle for computer hardware and expects Dicker Data to benefit greatly when the tide turns. So much so, Citi sees scope for the company’s earnings to grow at a double-digit rate over the medium term. The Dicker Data share price is trading at $11.50 on Monday.

Inghams Group Ltd (ASX: ING)

A note out of Macquarie reveals that its analysts have upgraded this poultry producer’s shares to an outperform rating with a $4.20 price target. This follows a first-half result which was largely in line with expectations. Looking ahead, the broker feels that Inghams is well-placed for the future thanks to its efficiency programs and sees upside risk to margin assumptions. The Inghams share price is fetching $3.57 this afternoon.

QBE Insurance Group Ltd (ASX: QBE)

Analysts at Goldman Sachs have retained their buy rating on this insurance giant’s shares with an improved price target of $18.65. The broker was pleased with QBE’s FY 2023 result and remains very positive on the company’s outlook. Particularly given management’s clear focus on combined operating ratio improvement and its strong return on equity. The QBE share price is trading at $16.66 today.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• How long would it take to turn $20,000 into $100,000 with ASX dividend stocks
• Why Inghams, IAG, Neuren Pharmaceuticals, and Pro Medicus shares are sinking today
• Guess which ASX 200 share is crashing 15% despite doubling its first-half profits
• QBE share price tumbles despite 105% FY23 profit jump

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro 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 Dicker Data, Goldman Sachs Group, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Dicker Data and Macquarie Group. 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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