Category: Stock Market

If you don’t have sufficient funds to build a truly diverse portfolio, a quick way to add some diversity is with exchange traded funds (ETFs).

This is because through just a single investment, ETFs give investors exposure to whole indices, industries, and themes.

There are a large number of ETFs for investors to choose from, but three that could be worth considering are listed below. Here’s what you need to know:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The BetaShares Asia Technology Tigers ETF could be a top option for investors. As its name suggests, this ETF gives investors exposure to a number of exciting tech shares in the Asian market. Among its holdings are the likes of ecommerce giant Alibaba, search engine company Baidu, and WeChat owner Tencent. These companies have been revolutionising the lives of billions of people in the region and look well-positioned for growth over the next decade.

BetaShares NASDAQ 100 ETF (ASX: NDQ)

Another ETF for investors to consider is the BetaShares Nasdaq 100 ETF. This popular ETF provides investors with exposure to the 100 largest non-financial shares on the famous Nasdaq index. This means that investors will be owning a slice of tech giants such as Amazon, Apple, Facebook (Meta), Microsoft, Netflix and Google (Alphabet). And with the Nasdaq index down materially from recent highs following a market selloff, now could be an opportune time to make a long term investment in the ETF.

VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

A final ETF to consider is the VanEck Vectors Morningstar Wide Moat ETF. This ETF gives investors exposure to a portfolio of fairly valued companies with sustainable competitive advantages or moats. There are approximately 50 stocks in its portfolio including Amazon, Berkshire Hathaway, Constellation Brands, Intel, and Microsoft. It is worth highlighting that legendary investor Warren Buffett is a huge fan of companies with moats. So, if you’re aiming to follow his investment style, this ETF could be a good way to do it.

The post Here are 3 top ETFs for ASX investors to buy now appeared first on The Motley Fool Australia.

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More reading

• Get exposure to Asian shares with these 2 ETFs
• 3 ASX ETFs for investors to buy next week
• 2 ASX growth shares I’d buy right away with $2,000
• 3 high quality ETFs for ASX investors to buy this month
• Here’s why the BetaShares Nasdaq 100 ETF could be a buy today

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 BETANASDAQ ETF UNITS. The Motley Fool Australia has positions in and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended BetaShares Asia Technology Tigers ETF and VanEck Vectors Morningstar Wide Moat ETF. 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 ASX share market saw a lot of pain on Tuesday. The S&P/ASX 200 Index (ASX: XJO), representing the biggest companies on the ASX, slumped 3.55%. However, I believe there are some good opportunities in this period.

Investors are focused on risk factors such as inflation and rising interest rates. In theory, when interest rates go up, it pulls down the value of asset prices. Investors are certainly putting that theory to the test in the real world at the moment.

But, in my opinion, these lower prices just represent better buying opportunities. There are plenty of ASX shares that I think could make good long-term buys. Here are two of them.

City Chic Collective Ltd (ASX: CCX)

City Chic is a fast-growing business in the apparel and footwear industry. The ASX retail share specialises in selling items to plus-size women.

It sells through a variety of brands in different countries including City Chic, CCX, Evans, Avenue, Hips & Curves, and Fox & Royal.

For me, it’s the global growth potential that is one of the key attractions of City Chic shares. Australia doesn’t have a big population, but City Chic is now generating revenue in North America, the UK, and mainland Europe.

This ASX share may have a solid tailwind behind it. Using Credence Research as its source, City Chic says the plus-size market is forecast to grow by approximately 7% per annum in the coming years.

The retailer also noted that the average annual spend in the plus-size category is currently “materially” less than the rest of the women’s apparel market. City Chic also noted increasing rates of plus-size women globally.

I think the ASX share is doing a good job of achieving growth, particularly online. In the first half of FY22, it made $178 million in global sales. The company said that 77% of the prior 12 months of sales were made online.

In the 17 trading weeks from 27 December 2021 to 24 April 2022, it saw “strong” total sales growth of 25% year on year.

Unlike some other smaller ASX shares, City Chic is making a profit, while also growing in size quickly. In HY22 it made $14 million of underlying net profit after tax (NPAT). I think that’s a positive about the business – it’s not making losses. This can provide valuation support.

Since the start of 2022, the City Chic share price is down by 66%. It looks good value for the long term to me.

VanEck Video Gaming and Esports ETF (ASX: ESPO)

This is an exchange-traded fund (ETF) that gives investors exposure to the video gaming sector.

As a group of businesses, I think the sector this ETF represents has attractive growth potential, particularly after the 23% decline so far in 2022.

VanEck points out that video gaming has achieved average annual growth since 2015 of 12%. E-sports is growing even quicker, partly due to the fact that it has created new potential revenue streams such as game publisher fees, media rights, merchandise, ticket sales, and advertising.

E-sports revenue has grown by an average of 28% per annum since 2015.

The competitive video gaming audience is expected to reach 646 million people globally, partly because of the rising population of ‘digital natives’, according to VanEck.

With the revenue growth for the sector, I think names like Nvidia, Netease, Advanced Micro Devices, Take-Two Interactive Software, Electronic Arts, and Nintendo can deliver long-term earnings growth and this can help shareholder returns.

The post I think these 2 ASX shares are buys in this volatility appeared first on The Motley Fool Australia.

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More reading

• 3 ASX ETFs for investors to buy next week
• ASX retail shares tumble following RBA rate rise
• Are these 2 beaten-up ASX shares too cheap to ignore in June 2022?
• 2 popular ETFs that could be buys for ASX investors
• I think these 2 ASX tech shares are buys in May

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 Nvidia. The Motley Fool Australia has recommended Nvidia and VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. 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 Northern Star Resources Ltd (ASX: NST) share price isn’t escaping the wider market selloff today.

Northern Star shares closed on Tuesday trading for $8.06, down 3.13%.

The Northern Star share price joined the wider selling action, fuelled by hot running inflation figures and fears of aggressive interest rate hikes out of the United States.

This saw US markets fall sharply yesterday (when the ASX was closed for the Queen’s Birthday holiday) and caused similar angst here today, with the All Ordinaries Index (ASX: XAO) closing down 3.70% at the end of the day.

With gold prices also down around 2.5% since the US inflation figures were released on Friday, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) also closed down 2.06% today.

But, according to Catapult Wealth portfolio manager Tim Haselum, gold stocks, and particularly the Northern Star share price could have a strong year ahead.

Low debt and long mine life

Northern Star has a current market cap of approximately $9.4 billion. Focused on gold, the company produces and explores in Western Australia, the Northern Territory and the US state of Alaska. The miner pays a trailing dividend yield of 2.4%, fully franked.

Commenting on the outlook for Northern Star, Haselum said (courtesy of The Advertiser):

The main variables here are the gold price, currency and production volumes. Like all commodity companies, NST reported rising costs as wages and transport expenses keep pushing higher. Despite this, NST ha a very low debt, strong track record for management and their mines are relatively long life.

Haselum acknowledged the rising interest rate environment, but added, “We think you have to throw the old economic textbooks out as we could still see strength in gold valuations and it continues to be an attractive store of wealth.”

Catapult Wealth has a buy rating on the miner and a 12-month target of $11.88 for the Northern Star share price.

Northern Star share price snapshot

The Northern Star share price hit all-time highs in November 2020.

This year the miner has been struggling, with shares down 14% in 2022. That compares to a year-to-date loss of 10% posted by the S&P/ASX 200 Index (ASX: XJO).

The post Why this fund manager sees major upside potential for the Northern Star share price appeared first on The Motley Fool Australia.

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More reading

• The Northern Star share price is down 25% from its April high. Is now the time to buy?
• 5 things to watch on the ASX 200 on Wednesday
• Why is the Northern Star share price having such a lacklustre start to the week?
• 5 things to watch on the ASX 200 on Monday
• Where is the Northern Star share price headed in June?

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 market meltdown that wiped more than $100 billion in shareholder value on Tuesday didn’t stop one ASX 200 share from getting a “buy” upgrade.

The S&P/ASX 200 Index (ASX: XJO) crashed 3.55% on Tuesday, taking its fall from its August 2021 high to nearly 13%.

That means our key benchmark is now in correction territory. This is defined as a drop of between 10% and 20% from the peak.

Why this ASX 200 share is holding firm

But amid the gloom that’s been triggered by rapid interest rate hikes and runaway inflation, broker Macquarie upgraded the Endeavour Group Ltd (ASX: EDV) share price.

This may explain why the hotel operator and alcoholic drinks retailer outperformed the market today.

The Endeavour Group share price ended flat at $7.15, which is an admirable feat given most ASX 200 shares closed in the red.

Positive earnings outlook

There are a few reasons behind Macquarie’s decision to lift its rating on the shares to “outperform”. For one, the group’s earnings are more defensive than discretionary retailers, several of which got downgraded by the broker.

Another reason is Endeavour Group’s ability to generate a decent return on invested capital (ROIC). Macquarie explains:

We believe that the [approximate] $300m capex [capital expenditure] spend targeting 15% ROIC, amortising to 10% ROIC by year five, will drive 3.9% EBIT growth annually.

We think the retail and hotels businesses act as natural hedges against each other and should minimise the impact of an economic downturn.

Defensive income and margin expansion

Further, the growth in private label brands is driving the group’s expanded earnings before interest and tax (EBIT) margin. This positive trend is likely to continue, according to Macquarie.

The broker also pointed out that its pokies business has proven to be relatively resilient during times of economic uncertainty. Gambling isn’t an easy habit to kick.

Another thing that is helping the ASX 200 share is the trend for consumers to spend more on services than goods. Households initially spent big buying furniture and electronics as we emerged from the pandemic, but they are now preferring to spend on experiences instead.

What is the Endeavour Group share price worth?

However, it’s not all good news for the Endeavour Group share price. Regulatory risks remain a concern as there’s always scrutiny on liquor and gaming. Any potential reform could hurt profits.

Macquarie’s 12-month price target on the shares is $7.70 a share, and the forecast FY22 dividend yield stands at around 2.8%.

The post The ASX 200 share that just got upgraded to buy amid the market carnage appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares that avoided today’s sell-off
• Lake Resources share price defies rout to leap 14%
• Leading brokers name 3 ASX shares to buy today
• Here are the 3 most traded ASX 200 shares on Tuesday
• Is this a stock market crash for ASX 200 shares?

Motley Fool contributor Brendon Lau has positions in Macquarie Group Limited. 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 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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S&P/ASX 200 Index (ASX: XJO) travel shares descended today amid a wider market sell-off.

The share prices of Flight Centre Travel Group Ltd (ASX: FLT), Webjet Limited (ASX: WEB) and Qantas Airways Limited (ASX: QAN) all plunged today.

So why did ASX 200 travel shares struggle on Tuesday?

Qantas share price takes a hit

Flight Centre shares dropped nearly 5%, Webjet shares fell almost 8% while Qantas shares descended 6%. For perspective, the S&P/ASX 200 Index (ASX: XJO) closed 3.55% in the red today.

ASX 200 travel shares appeared to follow the footsteps of US counterparts. In US markets on Monday, Delta Airlines Inc (NYSE: DAL) fell 8.29%, American Airlines Group Inc (NASDAQ: AAL) shares dived 9% while United Airlines Holdings Inc (NASDAQ: UAL) shares tumbled 10%.

Shares tumbled in the United States overnight amid higher than expected inflation figures and speculation that the US Federal Reserve would lift rates by up to 0.75%.

Sky high interest rates increase the cost of borrowing, potentially leading to higher costs for the airlines. Consumers could also have less money to spare for travel.

ASX2 00 travel shares could soon face more competition from Virgin Australia Holdings. The airline, not currently listed on the ASX, is planning direct flights between Gold Coast and Bali, Sunrise reported. Virgin is owned by Bain Capital.

In news on the weekend, Flight Centre is reportedly planning to take high achieving staff at the company to a Las Vegas conference, The Australian reported.

Meanwhile, Qantas has again faced accusations of “predatory” entry into the regional airline market. However, QantasLink CEO John Gissing hit back in comments reported in the Sydney Morning Herald. He said:

What Rex calls predatory behaviour is actually competition which provides these regional communities with choice, more services and lower fares.

Share price snapshot

Flight Centre shares have surged 17% in a year, while Qantas shares are up 3%. Meanwhile, Webjet shares have leapt 6% in the past year.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has shed 9% in the past 12 months.

The post How did ASX 200 travel shares perform amid today’s sell-off? appeared first on The Motley Fool Australia.

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More reading

• Why did the Qantas share price nosedive 6% today?
• These are the 10 most shorted ASX shares
• Up 12% this year, are Webjet shares fairly priced?
• Virgin Australia eyes upcoming ASX IPO: ‘Doing at least as well’ as Qantas
• ‘We need your help’: What’s dragging on the Qantas share price today?

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 Flight Centre Travel Group Limited and 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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The benchmark S&P/ASX 200 Index (ASX: XJO) ended the day a substantial 3.55% in the red at 6,686 points on Tuesday.

The index is now down more than 10% this year to date. The hot-running energy sector was the worst performer on Tuesday, with the S&P/ASX Energy Index (ASX: XEJ) sinking 4.88%.

However, a few ASX 200 shares held the fort today. While their counterparts endured losses, these three were among those that avoided the sell-off.

Computershare Ltd (ASX: CPU)

The Computershare share price ended the day 1.55% higher at $23.53.

This ASX 200 tech share has been broadly trending upwards since bouncing off a low of $22.77 on 25 May. The stock has certainly caught the attention of portfolio managers in recent times as well, my Foolish colleague Tony Yoo wrote last month.

Speaking to Livewire, Tribeca portfolio manager Jun Bei Liu said Computershare would be a beneficiary of rising interest rates.

That sentiment was echoed by Fairmont Equities managing director Michael Gable, Yoo wrote, citing Gable’s blog.

Despite winding back in the past month, the Computershare share price is still up 17% this year to date.

Crown Resorts Ltd (ASX: CWN)

The Crown Resorts share price spent plenty of time in the green today before ending the day flat at $13.05. The ASX 200 share cruised past its 52-week high last week and has been in an uptrend these past six to eight months.

The Crown share price has rallied since 9 June, when Crown provided an update on its proposed takeover by private equity firm Blackstone.

The acquisition has now received approval from the Victorian Gambling and Casino Control Commission and New South Wales Independent Gaming and Liquor Authority.

The nearly $9 billion acquisition is nudging forward to being completed.

Uniti Group Ltd (ASX: UWL)

Finally, the Uniti share price spiked in early trade and closed 0.41% higher at $4.95 on no new updates.

Investors bid the share price up in March from its 52-week low of $3.05, with investors now realising a tidy gain since that point.

It caught buyers’ attention again in April. This time, it was after Uniti announced the Morrison/Brookfield Consortium sweetened its deal to acquire the telecommunications infrastructure company.

The consortium agreed to acquire the ASX 200 share for a cash consideration of $5.00 per share, less any dividends.

The post 3 ASX 200 shares that avoided today’s sell-off appeared first on The Motley Fool Australia.

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More reading

• Lake Resources share price defies rout to leap 14%
• Here are the 3 most traded ASX 200 shares on Tuesday
• Is this a stock market crash for ASX 200 shares?
• ASX 200 bank shares tumble: Citi says time to buy
• ASX 200 midday update: Block and Zip crash amid market selloff

Motley Fool contributor Zach Bristow 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 Qantas Airways Limited (ASX: QAN) share price had a horror day on the market today.

Shares in the airline plunged 6.20% to $4.84 at the end of trading on Tuesday. For perspective, the S&P/ASX 200 Index (ASX: XJO) fell 4.19% today.

Let’s take a further look at how the Qantas share price performed amid wider market carnage today?

Qantas share price takes a hit

Qantas shares were not the only ASX travel shares that fell today. Flight Centre Travel Group Ltd (ASX: FLT) shares plunged 4.66%, while Webjet Limited (ASX: WEB) shares tumbled 7.89%. Travel shares are falling amid a tough day on the ASX 200 today. This followed US major share markets plunging overnight.

The S&P 500 (INDEXSP: .INX) fell 4% in the United States, while the NASDAQ (INDEXNASDAQ: .IXIC) plunged 4.7% on Monday.

Higher than expected inflation figures from the US drove speculation that the US Federal Reserve could raise rates by 0.75%.

US airlines did not escape this carnage. American Airlines Group Inc (NASDAQ: AAL) shares dived 9.45% and United Airlines Holdings Inc (NASDAQ: UAL) shares plunged 10% on Monday. Delta Airlines Inc (NYSE: DAL) shares also fell 8.29%.

In other news, Rex Airlines has again accused Qantas of “predatory” attacks on the Regional Express Holdings Ltd (ASX: REX) network. REX announced it would commence flights between Melbourne and Devonport in Tasmania. This followed Rex pulling out of the Melbourne to Albury route. Chairman John Sharp said:

Qantas predatory attacks on Rex’s network mean that we no longer can support the marginal routes and we need to channel our resources to the biggest regional routes where the financial returns are much better.

However, in comments reported by the Sydney Morning Herald, QantasLink CEO John Gissing dismissed these claims from Rex, describing Qantas’ decision to fly certain regional routes as competition. Gissing said:

What Rex calls ‘predatory behaviour’ is actually competition which provides these regional communities with choice, more services and lower fares

Share price snapshot

The Qantas share price has climbed nearly 3% in the past 12 months, while it has fallen more than 3% year to date.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has shed around 10% in a year.

Qantas has a market capitalisation of $9.19 billion based on its current share price.

The post Why did the Qantas share price nosedive 6% today? appeared first on The Motley Fool Australia.

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More reading

• Virgin Australia eyes upcoming ASX IPO: ‘Doing at least as well’ as Qantas
• ‘We need your help’: What’s dragging on the Qantas share price today?
• Qantas share price lifts amid ACCC decision
• Could a lack of pricing power drag on Qantas shares in 2022?
• Top broker tips 20% upside for Qantas share price

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’re a growth investor with room for some new additions to your portfolio, then it could be worth considering the two ASX growth shares listed below.

Here’s what you need to know about these buy-rated ASX shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX growth share to look at is Domino’s. It is of course the ANZ region’s leading pizza chain operator with almost 900 stores across the two countries. In addition, the company has over 1,300 stores in Europe and over 1,000 stores in Asia.

But management isn’t settling for that. It has set itself a milestone of 6,650 stores by 2033, which is 2.1x its current market size. If Domino’s delivers on this and continues its long track record of same store sales growth, this will bode well for its growth over the next decade.

Morgans is a fan of the company due to its growth plans. And following recent weakness, it believes “there is meaningful upside to the current share price over the next 12 months.”

Morgans has an add rating and $93.00 price target on its shares.

IDP Education Ltd (ASX: IEL)

Another ASX growth share that has been tipped as a buy is IDP Education. It is a provider of international student placement and English language testing services across several countries.

The team at Goldman Sachs is very positive on IDP Education’s outlook. Particularly given structural drivers and recent acquisitions. The latter have strengthened its market position in key markets.

In fact, the broker believes that IDP Education’s outlook is so strong that it is forecasting a “68% 3yr EPS CAGR (FY21-FY24E).”

In light of this strong earnings growth potential, Goldman Sachs currently has a buy rating and $35.50 price target on the company’s shares.

The post 2 top ASX growth shares with major upside potential appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Watch out Domino’s! Pizza Hut is coming for a bigger slice of the pie
• Analysts say these top ASX growth shares could jump over 30%
• Belt tightening? 5 ASX 200 consumer shares slipping to new 52-week lows today
• Domino’s share price tipped to rise 40% amid ‘absolutely undiminished’ growth opportunity

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 Idp Education Pty Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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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The Nickel Industries Ltd (ASX: NIC) share price fell by 8.6% during today’s market sell-off.

At the close on Tuesday, the Nickel Industries shares were worth $1.07 each.

This added insult to injury, with the nickel producer’s share price now down 36% since the market close on 7 March. That day, the share price hit a 2022 high of $1.65. It’s been downhill ever since.

By comparison, the S&P/ASX 200 Index (ASX: XJO) has dropped 5% since 7 March.

Let’s take a look at what is happening with the Nickel Industries share price.

Nickel prices plunge

Nickel Industries shares sank in the fall-out from the short squeeze on nickel in early March.

The price of nickel hit $100,000 on the London Metal Exchange before plunging. Chinese giant Tsingshan Group was reportedly caught up in the short squeeze drama.

Tsingshan Group’s subsidiary Shanghai Decent had an 18% stake in Nickel Industries, prompting fears of sales contract terminations.

However, following discussions with Tsingshan and Shanghai Decent, Nickel Industries informed the market that operations at its nickel projects were unaffected.

Nickel Industries is not the only ASX nickel share to suffer since early March. The Panoramic Resources Ltd (ASX: PAN) share price has slipped 26% since the market close on 7 March. IGO Ltd (ASX: IGO) shares have also descended 16% in this time frame.

Since 8 March, the nickel price has dived 46% according to Trading Economics data. Nickel prices have returned to levels seen prior to the short squeeze.

In early June, Goldman Sachs analysts Nick Snowdon and Aditi Rai predicted nickel prices will rise 20% this year before pulling back due to “fundamental pressures”.

What else is happening at Nickel Industries?

Nickel Industries recently changed its name from Nickel Mines to Nickel Industries. This followed approval from shareholders at the company’s AGM in late May.

The company has an 80% interest in the Hengjaya, Ranger, and Angel nickel projects in Indonesia. Nickel Industries has also signed an agreement for a 70% interest in the Oracle nickel project.

The company reported record quarterly results in late April, providing the Nickel Industries share price with a nearly 14% boost between 27 and 29 April.

Nickel Industries produced 11,166 tonnes of nickel for the quarter, a 10.7% increase. A record EBITDA of US$81.7 million was also achieved, up nearly 19%.

Nickel Industries is planning to become a top 10 global nickel producer in the future. It outlined its growth plans in a recent presentation to the Bank of America Conference in Florida.

The company highlighted its Oracle acquisition, saying it will add “significant scale” and diversify the company’s production footprint.

Nickel Industries share price snapshot

The Nickel Industries share price has risen by 2.4% in the past year. It has fallen 27% year to date.

For perspective, the ASX 200 has tumbled 9.4% in the past year.

Nickel Industries has a market capitalisation of $3.18 billion based on today’s closing share price.

The post The Nickel Industries share price has tumbled 36% since early March. What’s going on? appeared first on The Motley Fool Australia.

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More reading

• Why did the Nickel Industries share price leap 7% on Friday?
• Why are ASX nickel shares tumbling today?
• These were the best performing ASX 200 shares last week

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs. 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 ResMed Inc (ASX: RMD) share price was a relatively positive performer on Tuesday.

The sleep treatment focused medical device company’s shares ended the day 0.2% higher at $29.75.

Can the ResMed share price keep rising?

The good news for investors is that this small gain may only be the start for the ResMed share price.

According to a recent note out of Citi, its analysts have a buy rating and $35.50 price target on the company’s shares.

Based on the current ResMed share price, this implies potential upside of 19% for investors over the next 12 months.

What did the broker say?

While Citi has reduced its revenue and earnings estimates to reflect the supply chain issues the company is facing, the broker remains very positive its outlook. This is due to its belief that ResMed will win a permanent additional 10% market share from a major product recall from rival Philips.

In light of this and its current valuation, the broker sees a lot of value in the ResMed share price at the current level.

Its analysts explained:

RMD is trading at PE of ~28x FY24E, below historical avg of ~32x. Maintain Buy. RMD cut its additional device guidance in FY22 by $100m to $200-250m due to the difficulty in sourcing semiconductors as it attempts to fill the void left by the Philips recall (whose device sales were ~US$800m pa).

We forecast $225m in extra sales (from US$360m) in FY22 – we expect this to continue in FY23 where we assume ~US$350m (from US$315m) of extra sales. Despite the short-term impact, we continue to expect ResMed will make a permanent 10% market share gain in devices due to the Philips’ recall.

The post Broker tips ResMed share price to jump 19% appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names 3 ASX healthcare shares to buy
• 5 things to watch on the ASX 200 on Wednesday
• Experts name 2 excellent blue chip ASX 200 shares to buy
• Why the ResMed share price could jump 25% from current levels
• How to turn $20,000 into $180,000 in 10 years with ASX shares

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 ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. 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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