Stock Pick

Category: Stock Market

  • Broker says Webjet shares are one of its best buy ideas this month

    Three friends walking together at a train station.

    Three friends walking together at a train station.

    Webjet Limited (ASX: WEB) shares are having a tough year.

    Since the start of 2022, the online travel agent’s shares have dropped over 10% to $4.86.

    This leaves the Webjet share price trading within sight of a 52-week low of $4.55.

    Are Webjet shares trading at an attractive level?

    The good news for shareholders is that one leading broker is tipping Webjet shares to rebound over the next 12 months.

    In fact, its conviction is so strong that it has the travel share on its best ideas list for October.

    These are the shares that the broker thinks offer the highest risk-adjusted returns over a 12-month timeframe and are supported by a higher-than-average level of confidence.

    What is the broker saying?

    According to a note out of Morgans, its analysts have an add rating and $6.40 price target on the company’s shares.

    Based on where Webjet’s shares are currently trading, this implies potential upside of almost 32% for investors over the next 12 months. Morgans is also expecting a modest dividend yield of almost 1%, increasing the total potential return slightly.

    The broker is positive on Webjet shares due to their valuation and the company’s cost reductions. It expects the latter to lead to the company being a much more profitable business when trading returns to normal.

    It explained:

    Based on our forecasts, WEB is trading on an FY24 recovery year PE which is at a discount to its five-year average PE (pre-COVID). Its WebBeds (B2B) business is highly leveraged to the northern hemisphere summer holiday season which is forecast to be strong. Webjet OTA is leveraged to ANZ domestic and international travel. Management also wasted a crisis and cost reduction initiatives will reduce its cost base by 20% across the group once the business returns to scale.

    The post Broker says Webjet shares are one of its best buy ideas this month appeared first on The Motley Fool Australia.

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    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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Webjet Ltd. 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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  • Macquarie says Zip share price has further to fall

    Zip share price Z1P A wide-eyed man peers out from a small gap in his black zipped jumper conveying fear over the weak Zip share price

    Zip share price Z1P A wide-eyed man peers out from a small gap in his black zipped jumper conveying fear over the weak Zip share price

    The Zip Co Ltd (ASX: ZIP) share price is dipping lower today, down 0.8%.

    The ASX buy now, pay later (BNPL) stock closed yesterday at 63 cents and is currently swapping hands for 62.5 cents per share.

    That’s a far cry from the $12.35 the Zip share price hit back in-mid February last year.

    But even after that long, hard fall, analysts at Macquarie Group Ltd (ASX: MQG) believe the payments company is still overvalued.

    What did Macquarie report?

    Macquarie analysts have run their slide rule across the most recent app traffic data for a range of BNPL shares.

    And, as The Australian Financial Review reported, Zip didn’t come out on top.

    According to Macquarie, Zip was among the “BNPL operators [that] have recorded moderating or declining growth during CY22”.

    The analysts hit the stock with an underperform rating, with a 60-cent target for the Zip share price. That suggests another 4% decline from the current price.

    What’s been happening with the Zip share price?

    It’s been a tough year across the BNPL space, and the Zip share price has certainly been no exception.

    Pressured by fast-rising inflation and interest rates, shares are down a painful 85% year-to-date.

    With the company’s market cap having tumbled to some $440 million, Zip was booted from the S&P/ASX 200 Index (ASX: XJO) on 19 September as part of the S&P Dow Jones Indices September quarterly review. The Zip share price has tumbled 24% since its exit from the benchmark index.

    Trading outside of the ASX 200 can throw up some tailwinds for shares. That’s partly because a lot of fund managers are limited to trading the top 200 stocks, and won’t be able to buy shares anymore. Those fund managers already holding Zip shares prior to the company’s exclusion from the benchmark index may have been forced to sell them.

    While Zip still does receive a fair amount of media attention, stocks within the ASX 200 tend to get superior analyst coverage and are more likely to make mainstream media headlines.

    The post Macquarie says Zip share price has further to fall appeared first on The Motley Fool Australia.

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    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 ZIPCOLTD FPO. The Motley Fool Australia has recommended Macquarie Group Limited. 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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  • Guess which ASX mining share just rocketed 100% on a new discovery

    Rocket powering up and symbolising a rising share price.

    Rocket powering up and symbolising a rising share price.

    Can you guess which little-known ASX mining share rocketed 100% on open after announcing a new discovery this morning?

    If you said Dundas Minerals Ltd (ASX: DUN), go to the front of the class.

    The ASX mining share has given back some of those opening gains but remains up an impressive 50% at the time of writing.

    So, what’s piquing investor interest?

    What did Dundas Minerals report?

    Investors are bidding up the junior ASX mining share after it announced promising results from the first diamond drill hole at its Central exploration target.

    Dundas is exploring for nickel, copper, cobalt and gold in the prospective Albany-Fraser Orogen, located in Western Australia.

    The first drill hole was reported to have successfully intercepted a mafic-ultramafic complex. This includes extensive zones of massive, semi-massive, highly disseminated and disseminated sulphides.

    If that’s all a bit technical for you, you’re not alone.

    The ASX mining share noted that the geological setting at Central is complex. While Dundas does not yet have a sufficient understanding of the geology based on the single diamond drill hole, the miner said the environment is “conducive to an intrusive Ni-Cu-Co type deposit, plus gold and silver”.

    The company is currently awaiting assay results to confirm mineralisation. It was planning four additional diamond drill holes at the site, with a total drill program of some 2,000 metres intended. But following on the strong results of the first hole, Dundas said it is likely to expand that drill program.

    Commenting on the results, Dundas Minerals managing director Shane Volk said:

    Whilst we were always quietly confident of the geophysical data modelling… to see it transpire as it has is extremely rewarding for the small Dundas Minerals team, actually it’s an outstanding result.

    We now very much look forward to receiving the assay results from Hole 1 and to the drilling of our second hole at Central, which will be almost vertical…. to a depth of more than 500 metres. Given the results from Hole 1, we’d expect to intercept sulphides again in Hole 2.

    How has this ASX mining share been tracking?

    The Dundas Minerals share price is on a tear this year.

    Since the opening bell on 4 January, the ASX mining share has leapt 811% higher. That’s over the same period that the All Ordinaries Index (ASX: XAO) has fallen 13%.

    The post Guess which ASX mining share just rocketed 100% on a new discovery appeared first on The Motley Fool Australia.

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  • South32 share price drops on broker downgrade

    a man in high visibility shirt and hard hat with full beard looks downcast with eyes lowered as though he is disappointed or sad.

    a man in high visibility shirt and hard hat with full beard looks downcast with eyes lowered as though he is disappointed or sad.

    The South32 Ltd (ASX: S32) share price is having a subdued day.

    At the time of writing, the mining giant’s shares are down over 1% to $3.72.

    This compares unfavourably to the S&P/ASX 200 Materials sector, which is up 1.4% currently.

    Why is the South32 share price underperforming?

    The South32 share price has come under pressure today after the company lost one of its biggest bulls.

    According to a note out of Goldman Sachs, its analysts have downgraded the miner’s shares to a neutral rating and cut the price target on them by 21% to $3.70.

    This price target is broadly in line with where the company’s shares trading at present.

    Why did Goldman downgrade its shares?

    Goldman made the move after reducing its earnings estimate materially through to FY 2025.

    The broker’s EBITDA estimates have been reduced by 29% in FY 2023, 26% in FY 2024, and 34% in FY 2025 to reflect lower base metal price forecasts. It explains:

    Downgrade S32 to Neutral (from Buy) based on our revised lower NAV valuation of A$3.78/sh and PT of A$3.7/sh on the back of our base metal price downgrades resulting in a modest FCF yield of just 3% in FY23E.

    [W]e forecast a ~80% drop in EBITDA in FY23 on lower base metals prices and a FCF yield of just 3% despite a forecast ~10% increase in Cu Eq production, but an attractive 16% FCF yield in FY24 driven mostly by our expected recovery in base metal prices. For FY23, we forecast a sharp contraction in aluminium EBITDA from over US$1bn in FY22 to just ~US$300mn in FY23 on lower prices and elevated costs at the Hillside and Mozal smelters.

    In light of this, the broker sees more value in fellow diversified miners BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (AX: RIO) and is recommending them as buys.

    The post South32 share price drops on broker downgrade appeared first on The Motley Fool Australia.

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    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 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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  • Why has the Whitehaven share price already dived 7% so far this week?

    Coal miners look resigned to the end of mining this resourceCoal miners look resigned to the end of mining this resource

    This week has so far been one to forget for the Whitehaven Coal Ltd (ASX: WHC) share price. It has dumped 7.3% since Friday’s close.

    Its tumble follows on from last week’s strong performance that saw the stock hit four all-time record highs, peaking at $11.04 on Friday.

    But its winning streak came to an end yesterday when the Whitehaven share price tumbled 4.65% to close at $10.45 amid a dire day for the S&P/ASX 200 Index (ASX: XJO).

    And it’s back in the red today, down 2.82% to $10.15 at the time of writing after hitting an intraday low of $10.09. Meanwhile, the ASX 200 is posting a partial recovery, lifting 0.29%.

    So, what might be going wrong for the coal producer this week? Let’s take a look.

    What’s weighing on the Whitehaven share price?

    The Whitehaven share price is in the doldrums this week alongside the broader S&P/ASX 200 Energy Index (ASX: XEJ).

    The sector is the biggest weight on the market on Tuesday, falling 1.23% while only two of its constituents are trading in the green. It also fell 1.15% on Monday.

    Right now, Whitehaven is the energy sector’s worst performer, while the share price of its coal-producing peer New Hope Corporation Ltd (ASX: NHC) is down 2.24%.

    The two energy giants have benefited from surging coal prices this year. The black rock’s value has soared amid Russia’s invasion of Ukraine, which partially triggered the current European energy crisis.

    Indeed, Whitehaven saw a record realised coal price of $325 a tonne in financial year 2022.

    The crisis is expected to continue boosting coal prices in the near future.

    However, Australia and New Zealand Banking Group Ltd (ASX: ANZ) analysts warn the commodity’s value could face downwards pressure from increasing Chinese production, as my Fool colleague Monica reports.

    Fortunately, the Whitehaven share price has a long way to fall before it reaches the long-term red.

    The stock has gained around 270% so far this year. It’s also nearly 200% higher than it was this time last year.

    Comparatively, the ASX 200 has fallen 12% year to date and 8% over the last 12 months.

    The post Why has the Whitehaven share price already dived 7% so far this week? appeared first on The Motley Fool Australia.

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    Motley Fool contributor Brooke Cooper 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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  • Why is the Woodside share price suffering on Tuesday?

    a sad looking engineer or miner wearing a high visibility jacket and a hard hat stands alone with his head bowed and hand to his forehead as he speaks on a mobile telephone out front of what appears to be an on site work shed.a sad looking engineer or miner wearing a high visibility jacket and a hard hat stands alone with his head bowed and hand to his forehead as he speaks on a mobile telephone out front of what appears to be an on site work shed.

    The Woodside Energy Group Ltd (ASX: WDS) share price is in the red today.

    Woodside shares are sliding 1.42% and are currently trading at $34.09 apiece. For perspective, the  S&P/ASX 200 Index (ASX: XJO) is 0.26% in the green at the time of writing.

    Let’s take a look at why Woodside is falling today.

    Oil and gas prices

    The Woodside share price is down today, but it is not the only gas and oil share in the red. The Santos Ltd (ASX: STO) share price is sliding 1.02%, while Beach Energy Ltd (ASX: BPT) shares are down 1.88%.

    Energy shares are struggling after the oil price fell in global markets overnight.

    Brent crude oil slid 1.2% to US$95.95, while WTI Futures slide 1% to US$90.91 per barrel overnight.

    Oil prices fell as investors considered recession fears amid the tighter oil supply, CNBC reported.

    Fear of more rate rises from the US Federal Reserve weighed on investors minds, an analyst cited by the the publication noted. Again Capital LLC partner John Kilduff said:

    There’s more of the doom and gloom from those folks and what they’re going to do to the economy, because they’re not so convinced they have inflation under control, and that’s the macro play that’s weighing on oil.

    European natural gas also slid amid “rising LNG imports and warmer than expected weather”, ANZ senior economist Catherine Birch said in a research note.

    WTI crude oil is currently down 0.3% and fetching 90.86 a barrel, while Brent Crude Oil is sliding 1.77% to US$96.19 a barrel, Bloomberg data shows.

    Woodside paid a 109 US cents per share fully franked dividend in FY22. Citi rates the company’s share price as a buy with a $36.50 price target, while Morgan Stanley has placed a $37 price target on Woodside shares.

    Woodside share price snapshot

    The Woodside share price has soared 55% in the year to date, while it has risen 34% in the past year.

    For perspective, the ASX 200 has lost 8% in the past year.

    Woodside has a market capitalisation of around $65 million based on the current share price.

    The post Why is the Woodside share price suffering on Tuesday? appeared first on The Motley Fool Australia.

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    Motley Fool contributor Monica O’Shea 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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  • The Liontown share price is roaring higher today. Is it too late to buy?

    ASX share price rise represented by investor riding atop leaping lion

    ASX share price rise represented by investor riding atop leaping lion

    The Liontown Resources Limited (ASX: LTR) share price is having a strong day.

    In morning trade, the lithium developer’s shares are roaring 3% higher to $1.58.

    Can the Liontown share price keep rising?

    The good news for shareholders is that there are at least two top brokers that believe the Liontown share price can keep rising from here.

    For example, last week the team at Macquarie retained its outperform rating and $2.50 price target on the company’s shares. This implies potential upside of 58% for investors over the next 12 months.

    Macquarie is bullish on lithium and has been pleased with the progress being made at the Kathleen Valley lithium project. It highlights that major construction works have received government approval and can get underway.

    Who else is bullish?

    Elsewhere, a note out of Bell Potter from last month reveals that its analysts have a speculative buy rating and $2.87 price target on its shares.

    This suggests even greater upside potential of 82% for investors over the next 12 months.

    Bell Potter notes that Liontown is “roaring ahead.” It commented:

    LTR is fully funded to develop Kathleen Valley and has binding lithium offtake agreements in place with Ford, Tesla and LG Energy Solution covering around 90% of initial production. With construction underway, we expect LTR to award further development contracts with a focus building the asset’s best in class ESG credentials. Studies into lithium refining are underway and could bring further strategic partnerships from major lithium groups. Optimisation of this downstream project will complement Kathleen Valley development news flow.

    The post The Liontown share price is roaring higher today. Is it too late to buy? appeared first on The Motley Fool Australia.

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    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 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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  • Why did this ASX 300 retail share just crash 25%?

    woman with a shocked expression holding a baby

    woman with a shocked expression holding a baby

    The Baby Bunting Group Ltd (ASX: BBN) share price is having a day to forget on Tuesday.

    In morning trade, the baby products retailer’s shares have crashed 25% to a two-year low of $2.92.

    Why is the Baby Bunting share price crashing?

    Investors have been selling down the Baby Bunting share price following the release of a trading update at the company’s annual general meeting.

    According to the release, as of 7 October, Baby Bunting’s sales were up 12% year to date. This has been driven by total transaction growth of 15.2%, comparable store sales growth of 7.6%, and online sales growth of 19.6%.

    However, things aren’t quite as positive for its earnings due to significant margin pressure.

    What’s happening to its margins?

    The release reveals that Baby Bunting’s first quarter gross profit margin was below expectations and down 230 basis points over the prior corresponding period to 37.2%.

    This has led to first quarter net profit after tax falling $3 million year over year despite its double-digit top line growth.

    Baby Bunting’s CEO, Matt Spencer, explained that this has been driven by the company’s decision to compete with rivals on pricing despite rising inflation. He commented:

    In Q1 FY23, we expected a minor year-on-year reduction in gross margin as a result of the Loyalty program only commencing in November 2021 plus more products moving to Every Day Low Price. The amount of the actual reduction has been greater than anticipated.

    In tougher economic times, we continue to emphasise value in a competitive environment. We have maintained entry price points across our range ensuring great value every day, every visit. During the quarter, we have seen some competitors discounting top selling items to drive sales. Our 5% Price Promise is a key part of our response to this and it means we will not be beaten on price.

    In addition, unrecovered cost increases, soft demand for playgear, and loyalty program redemptions have been weighing on its margins.

    Outlook

    Positively, the company’s inventory levels are well-controlled and it has plans in place to address the first half impacts to recover earnings over the full year.

    However, given “the continuing economic uncertainty, inflationary pressures and other global challenges”, Baby Bunting isn’t providing further guidance about FY 2023 earnings at this point.

    The post Why did this ASX 300 retail share just crash 25%? appeared first on The Motley Fool Australia.

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    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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Baby Bunting. 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 AGL share price plummeted 17% in the first quarter. What now?

    A young man looks like he his thinking holding his hand to his chin and gazing off to the side amid a backdrop of hand drawn lightbulbs that are lit up on a chalkboard.A young man looks like he his thinking holding his hand to his chin and gazing off to the side amid a backdrop of hand drawn lightbulbs that are lit up on a chalkboard.

    The three months ended 30 September were busy for ASX 200 energy retailer AGL Energy Limited (ASX: AGL) and the company’s share price.

    The energy giant released its full-year earnings – covering a year in which its planned demerger was dumped following a brutal shareholder campaign – and revealed its pathway forward, complete with $20 billion price tag. On top of that, AGL continued work to restart a damaged unit at Loy Yang A.

    All in all, the events of the first quarter of financial year 2022 weighed on the AGL share price. It fell 17% to close the period at $6.84. For comparison, the S&P/ASX 200 Index (ASX: XJO) fell 1.4% in that time.

    So, what might the future hold for the embattled 185-year-old power company? Let’s take a look.

    AGL share price struggles in Q1

    The AGL share price suffered a major blow in the first quarter, seemingly instigated by the company’s full-year earnings.

    Its underlying post-tax profit tumbled 58% year on year to $225 million in financial year 2022. Though, its revenue jumped 21% to $13.2 billion.

    The company also waved goodbye to former chair Peter Botten as Patricia McKenzie stepped up to the helm. Botten wasn’t alone in hanging up his hat. Former CEO Graeme Hunt walked away from the company at the end of September.

    Finally, the company revealed its $20 billion plan to ditch coal by financial year 2035. To do so, it will be investing in new renewable and firming capacity over the coming years.

    Speaking of its coal-fired activities, AGL identified a defect in a critical part during testing of its Loy Yang A Unit 2 last month. The generator is now expected to be back online in the coming weeks.

    What else might the future hold for AGL?

    The company’s annual general meeting (AGM) is set to go ahead next month. There, McKenzie might go head to head with major investor Grok Ventures – the investment company of Atlassian Corporation (NASDAQ: TEAM) billionaire Mike Cannon-Brookes.

    The AGL chair revealed the company’s board won’t recommend three of the four candidates Grok nominated to join it last week.

    McKenzie reportedly told the Australian Financial Review‘s Energy & Climate Summit:

    This is an independent board of directors and in our opinion we need to have an independent board of directors that represents 100% of the shareholders, and 88% of those are not Grok.

    Meanwhile, the company expects to post between $1.25 billion and $1.45 billion of underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) in financial year 2023. It also believes its underlying net profit after tax (NPAT) will come in at $200 million to $320 million.

    Marcus Today’s Layton Membrey recently tipped AGL as a hold, saying, courtesy of The Bull:

    Stronger futures prices are expected to drive higher customer prices and gross margins for an extended period.

    At the same time, Morgans is expecting the AGL share price to rise to $8.20, slapping the stock with an outperform rating, my Fool colleague James reports. It’s currently trading for $6.90.

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    Motley Fool contributor Brooke Cooper 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 Atlassian. 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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  • Why is the BHP share price bolting out of the gates on Tuesday?

    a miner wearing a hard hat smiles as he stands in front of heavy earth moving equipment on a barren mine site.

    a miner wearing a hard hat smiles as he stands in front of heavy earth moving equipment on a barren mine site.

    The BHP Group Ltd (ASX: BHP) share price has been a solid performer on Tuesday.

    In morning trade, the mining giant’s shares are up 2% to $40.85.

    Why is the BHP share price rising today?

    Investors have been buying BHP shares today despite there being no news out of the mining giant.

    However, it is worth noting that the materials sector is the best-performing sector on the Australian share market today after the iron ore price rose overnight.

    According to CommSec, iron ore futures rose by US$1.73 or 1.8% to US$97.35 a tonne.

    This has seen fellow miners Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) also push higher this morning.

    Anything else?

    Something else that could be supporting the BHP share price today was a note out of Goldman Sachs.

    Its analysts have been looking at the mining sector and have given their verdict on a range of shares, including the Big Australian.

    According to the note, the broker has retained its buy rating with an improved price target of $43.50. Based on the current BHP share price, this implies potential upside of 6.5% for investors over the next 12 months.

    Goldman is also expecting a 6% dividend yield over the next 12 months, which stretches the total potential return to over 12%.

    Its analysts commented:

    BHP to continue trading at a premium to global mining peers (~0.5x premium to global mining peers over 10-yrs) which we believe can be maintained. […] BHP is trading on an attractive FCF/DPS yield of c. 5%/6% over the next 12-m.

    All in all, this could make BHP shares one to consider if you’re looking for options in the materials sector right now.

    The post Why is the BHP share price bolting out of the gates on Tuesday? appeared first on The Motley Fool Australia.

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    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 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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