Category: Stock Market

South32 Ltd (ASX: S32) shareholders should check their accounts today to see if they received the company’s latest dividend payout.

The mining outfit distributed a fully-franked interim dividend of US 8.7 cents (A$0.1194) per share to eligible shareholders.

At Wednesday’s market close, the South32 share price finished 1.95% lower to $5.02.

For context, the S&P/ASX 200 Index (ASX: XJO) also fell yesterday with a 0.5% loss to 7,490.1 points.

Let’s take a look at all the details regarding the company’s dividend.

How did South32 perform for the first half of FY22?

In the half year report for the 2022 financial year, South32 reported strong performance across key metrics.

In summary, group statutory profit after tax increased by US$979 million to US$1,032 million in H1 FY22. The company benefited from portfolio changes completed in FY21, as well as a broad recovery in commodity prices.

Underlying earnings jumped by US$868 million to US$1,004 million through higher average realised prices for commodities, particularly metallurgical coal. The latter attributed US$526 million over the period to South32’s coffers.

The group also achieved a US$704 million increase in free cash flow from operations, excluding EAI, to US$840 million.

Overall, the company finished the first half with net cash of US$975 million, up from US$406 million in the prior year.

The board declared a fully franked interim dividend of US 8.7 cents per share. This represents a 621% jump from the US 1.4 cents declared in H1 FY21.

Management noted that the latest dividend equates to a payout ratio of 40% of cash earnings.

The company’s dividend policy is to distribute a minimum of 40% of its cash earnings in any 6-month period.

It is worth noting that there is a capital management program that has been active since FY18. This returns excess capital efficiently through an on-market share buyback.

The board further expanded its capital management program by US$110 million to US$2.1 billion, leaving US$302 million to be returned by 2 September 2022.

South32 share price snapshot

Adding to its impressive gains, the South32 share price has surged around 78% in the last 12 months. This has predominantly been driven by its gains achieved in 2022, up 25%.

South32 has a price-to-earnings (P/E) ratio of 29.88 and commands a market capitalisation of roughly $23.32 billion.

The post The S32 dividend is being paid today. Here’s what you need to know appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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The Altium Limited (ASX: ALU) share price has been struggling in 2022.

Since the start of the year, the electronic design software company’s shares have fallen 22%.

Is the weakness in the Altium share price a buying opportunity?

While the pullback in the Altium share price this year has been disappointing for shareholders, it could be a buying opportunity for others.

According to a note out of Bell Potter this week, the broker has retained its buy rating and lifted its price target to $41.25.

Based on the current Altium share price of $34.69, this implies potential upside of 19% for investors over the next 12 months.

What did the broker say?

Bell Potter notes that there have been a couple of recent developments which the market may be interpreting as headwinds.

The first is the war in Ukraine and the negative impact this could have on revenue out of Russia and on its research and development activities in Ukraine. However, Bell Potter notes that Russia only accounts for 1%-2% of Altium’s revenue and the majority of staff in Ukraine have been relocated to its office in Poland.

The other potential headwind is the recently announced strategic partnership between Cadence Design Systems and Dassault Systèmes. This partnership will see the two companies combine platforms and provide a joint solution. However, once again, the broker doesn’t believe this is a material headwind.

It explained: “In the case of the Cadence/Dassault strategic partnership this is not new – the two have already been working together for some time – and is focused on the high-end enterprise area of the market (where Altium does not tend to compete). We therefore do not see much if any impact on Altium from these two developments in the current half or in future periods.”

In light of this, it continues to forecast strong profit growth in the coming years and sees a lot of value in the Altium share price at the current level.

The post Broker says the Altium share price weakness is a buying opportunity 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. owns and has recommended Altium. 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 Bruce Jackson.

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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price will be in focus early next month when the banking giant releases its half year results.

Ahead of the release, let’s take a look to see what the market is expecting from the bank.

What is expected from ANZ?

The team at Bell Potter has been busy looking through industry data and has laid out its expectations for ANZ during the six months ending 31 March.

According to the note, the broker expects ANZ to report a first half cash profit of $2.84 billion. This will be down 5% from the $2.99 billion cash profit reported in the prior corresponding period and down 11% from the $3.21 billion reported for the second half of FY 2021.

Bell Potter explained: “While no cash NPAT figure was given in 1Q22, there is enough evidence to suggest things will continue to be bad until at least after 2H22. This is due to lower NIM in 1Q22 (-8bp, underlying -5bp, driven by lower full year exit rate and ongoing structural headwinds) despite some tailwinds in New Zealand and deposit price changes, and still poorer Markets business outcome in October (trading conditions to impact 1H22 performance).”

What about shareholder returns?

The broker is expecting ANZ to declare a 71 cents per share fully franked interim dividend. This will be 1 cent per share higher than last year and represents a 71% payout ratio.

As for other capital returns, Bell Potter isn’t expecting any further share buybacks to be announced, though it sees scope for more in the future.

It commented: “As for Level 2 CET1, we forecast 12.3% in 1H22 but this will fall to 11.5% at the end of 2H22 mainly due to ongoing share buy-backs (and helped by organic capital generation of 0.4-0.8% p.a.).”

“While ANZ should continue to drive towards APRA’s minimum requirement of 10.5%, we figure a benchmark of 11.5% would appear to be the norm. Medium-term, the buyback of $1.5bn still remains in place and the bank can take up a further $1.8bn (the difference between 12.2% and NAB’s 11.75%, all else being equal).”

Are ANZ’s shares in the buy zone?

Bell Potter isn’t currently recommending ANZ shares as a buy.

The broker has a hold rating and $29.00 price target on them. This compares to the latest ANZ share price of $27.36, implying only modest upside potential of 6%.

The post What to expect from the ANZ half year result 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 Bruce Jackson.

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The Mineral Resources Limited (ASX: MIN) share price has been flying in recent weeks.

Since this time last month, the mining and mining services company’s shares have risen a sizeable 25%.

Can the Mineral Resources share price keep rising?

The good news for investors is that one leading broker doesn’t believe it is too late to invest.

According to a note out of Bell Potter, its analysts have retained their buy rating and lifted their price target on the company’s shares by 21% to $74.35.

Based on the current Mineral Resources share price of $60.35, this implies potential upside of 23% for investors over the next 12 months. This potential return increases to approximately 24% including dividends.

What did the broker say?

Bell Potter made the move in response to Mineral Resources’ decision to increase its lithium production plans materially due to unprecedented demand.

The broker highlights that this means that the company will be a major player in the lithium space, with production greater than Allkem Ltd (ASX: AKE) in 2022.

It commented: “MIN’s expansion and restart plans are in response to strong market demand for lithium products. MIN’s share of the expanded equivalent 6% spodumene concentrate (650 ktpa) equals around 100 ktpa of LCE (by lithium units). For context, Allkem Ltd’s (AKE) targeted FY22 production capacity is 50 ktpa LCE (on a 100%), and FY26 capacity is 145-to158 ktpa LCE.”

All in all, the broker believes the Mineral Resources share price is great value at the current level and sees a number of catalysts to taking it even higher.

It said: “We consider that MIN maintains an excellent portfolio of operating and development minerals assets, with a number of outstanding catalysts to provide additional news flow throughout the year ahead, including announcements relating to the conclusion of renegotiating the MARBL JV (and the anticipated increased downstream lithium processing capacity), and, iron ore project development in the Pilbara.”

The post Lithium boom: Broker tips Mineral Resources share price to jump 23% appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns Allkem 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 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 Bruce Jackson.

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The volatility this year may scare novice investors, but experienced folk know there are plenty of opportunities.

After the earlier market plunge amid inflation panic and a war in Ukraine that’s still in progress, the S&P/ASX 200 Index (ASX: XJO) has recovered most of its losses and could even set new records this month.

“Over the last 10 years the average gain for April, usually the second strongest month of the year, is +2.7%, which would take us to a new milestone high,” said Market Matters portfolio manager James Gerrish.

“[That’s] Market Matters’ call since the start of 2022, with the ‘fun’ just about to start in earnest.”

Gerrish told his newsletter subscribers that it’s currently an “exciting time” for active investors.

“We fully expect to rotate between cyclical and defensive stocks, growth and value sectors and high and low cash levels, to name a few, through the remainder of the year.”

One rotation candidate is the technology sector, which has been brutally sold off the past few months. With valuations now dirt cheap, there could be some upside.

Excellent risk-reward

In response to reader questions, there were a couple of tech ASX shares that Gerrish found value in:

• Audinate Group Ltd (ASX: AD8)
• NextDC Ltd (ASX: NXT)

Data centre operator NextDC, according to Gerrish, looks like a one-way bet.

“We actually think NextDC looks great from a risk-reward perspective with stops below $11, less than 8% downside with significant upside.”

The NextDC share price closed Wednesday at $11.81.

The team at Citi is also bullish on the stock, rating it as a “buy” with a price target of $14.55.

According to CMC Markets, 12 out of 17 analysts rate NextDC as a “buy”. Eleven of them even label it as a “strong buy”.

Meanwhile, audio tech provider Audinate has seen its shares plummet almost 40% since mid-December as it struggles with supply constraints.

“We haven’t had an update from the company since [February] around chip supply,” Gerrish said.

“The stock has continued to drift lower with chip supplies likely to be weighing on investors confidence along with the stock being associated with the out-of-favour growth sector.”

He was asked how Audinate shares might perform in a climate of increasing inflation.

“A rising inflation environment has been a headwind for virtually all growth stocks and this is likely to continue until inflation and bond yields reach a new period of equilibrium.

“We believe this can happen shortly on a short-term basis.”

Four out of five analysts surveyed on CMC Markets rate the stock as a “strong buy”.

Medallion Financial managing director Michael Wayne has been a long-time fan of the company, and has kept his faith through the stock price plunge.

“The fact that it’s basically a monopoly in that space at the moment, growing many multiple times the nearest competitor, we think it’s worth persisting.”

Audinate shares finished Wednesday at $6.32.

The post 2 ASX tech shares that are cheap enough to buy now appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo owns AUDINATEGL FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AUDINATEGL FPO. The Motley Fool Australia owns and has recommended AUDINATEGL FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Polynovo Ltd (ASX: PNV) share price took off last month despite no news being released by the company.

After slumping 58% over the 12 months leading up to the start of March, the medical device company’s stock launched 10% higher and was swapping hands for $1.10 apiece by the end of the month.

Not a bad finish for the Polynovo share price after tracking at a multi-year low of 83.5 cents early in the same month.

That means the company’s stock outperformed the broader market by nearly 4%.  

The S&P/ASX 200 Index (ASX: XJO) and All Ordinaries Index (ASX: XAO) both gained 6.3% in March.

So, what might have helped boost the ASX 200 healthcare stock higher? Let’s take a look.

What’s happened to Polynovo’s stock in March?

While there was no word from Polynovo to explain its share price gains, a few happenings could have helped boost the stock higher.

Firstly, while the S&P/ASX 200 Health Care Index (ASX: XHJ) ended the month only 1.89% higher than it started, the sector recorded some notable single-day gains.

That may have helped boost Polynovo’s shares at specific points throughout March.

Additionally, brokers have been bullish on the stock lately.

As The Motley Fool Australia’s Zach Bristow recently reported, 50% of analysts covering the stock were bullish on its future last month, believing it was one to buy. The other 50% had it down as one to hold.

Interestingly, Polynovo retained its position as one of the ASX’s most shorted shares last month. That means short-sellers are betting its share price will continue to slump.

Polynovo ended last month with a short position of 9.48%, which is relatively flat compared with where it ended in February.

Polynovo share price snapshot

Last month’s gains weren’t enough to boost the Polynovo share price back into the long term green.

The company’s stock ended the month 29% lower than where it started in 2022. It was also 59% lower than its closing price on 31 March 2021.

The post March was a stellar month for the Polynovo share price. Here’s why 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. owns and has recommended POLYNOVO FPO. 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 Bruce Jackson.

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It’s a little bit deceptive that the S&P/ASX 200 Index (ASX: XJO) is down just 1.5% this year so far.

That alone doesn’t tell the story of how wild a rollercoaster it has been for ASX share investors in 2022.

For example, panic about inflation and interest rates sent the benchmark down 10% in January.

Then in February, the ASX 200 dropped more than 4% in just a few days as Russian tanks rolled into Ukraine.

So we’re only three months into the year, and there have already been at least two dramatic sell-offs.

Every time such downturns happen, the market sees retail investors repeatedly make the same errors that ultimately cost them money.

Here are the top five, as identified by Morgan Stanley senior investment strategist Dan Hunt:

Panic selling

Hunt admits that seeing your portfolio plummet in value, and even dive into the red, can be psychologically “gut-wrenching”.

But one must resist any impulse to sell.

“The urge to staunch the bleeding can be overwhelming — to salvage what you can and wait for the dust to settle,” he said.

“Ironically, this can be the single most damaging thing an investor can do.”

During sell-offs and corrections, drops in the value of your ASX shares are only theoretical. Unless you sell.

“Selling into a falling market ensures that you lock in your losses. If you wait years to get back in, you may never recover.”

Hunt took the example of a person who stayed invested from 1980 to the end of February this year. They would have reaped a return of 12% a year.

“Someone who started at the same time, but sold after downturns and stayed out until two consecutive years of positive returns… would have averaged a 10% return annually.”

Two percentage points doesn’t sound like much, but if each person put in $5,000 each year, the buy-and-hold investor would have $4.3 million now. The panic seller would have $2.5 million.

Hunt urged investors to “take the long view”.

“If you don’t need cash right away and have a well-researched, diversified portfolio, realise that downturns ultimately are temporary,” he said.

“The market may sometimes feel like it could go to zero, but market history shows that rebounds can return many portfolios to the black in just a few years.”

Fleeing to cash and staying there

This is a secondary effect of panic selling. 

It’s bad enough you sold out, but keeping it as cash will ensure you miss out on a market rebound.

“Returning to our hypothetical example, an investor who sold after a 30% market drop and stayed in cash would have just $430,000 at the end of 40 years, even after investing $5,000 a year.”

Hunt urged investors to put their money to work.

“If the market rebounds, they will be glad that they already put some of their money back to work, rather than having all of it on the sidelines.”

Overconfidence

Overestimation of one’s abilities is a common psychological affliction, not just limited to ASX retail share investors.

“An example of that is ‘anchoring’ the value of a beaten-down company by the much higher price it used to trade at when it still has a lot further to fall,” said Hunt.

“As this practice is known by market insiders as ‘trying to catch a falling knife’, it is clearly one with an ignominious history.”

Hunt added overconfident investors may buy some perceived bargains during downturns. But they could “drive themselves to distraction and end up with a portfolio in disarray and even deeper losses”.

“In times of market uncertainty, you don’t have to figure out what to do next on your own. Find a financial advisor you trust to go through your portfolio with you.”

Trying to ‘make up’ for losses

Shares have no memory. They don’t care whether you bought them in the past for a higher or lower price than the current level.

Yet investors commonly detest the idea of selling a stock at a loss.

“This can cause them to hang onto losers too long because they believe those stocks will rise again and to sell winners too early because they worry those stocks will decline — what is known in behavioural finance research as the ‘disposition effect’.”

According to Hunt, they would be better served doing the opposite.

“Investors would be better off selling stocks doing poorly in the market and holding onto stocks that are rising because they are better positioned for the current environment.”

Letting go of hopeless shares at a loss can also be beneficial for one’s tax liabilities.

Forgetting to rebalance

If you adjusted your portfolio to a higher proportion of your portfolio in non-stock assets — like bonds, real estate or cash — in preparation for a sell-off, don’t forget to reverse that after the market dips.

“The corollary to buying equities to rebalance after a selloff is the need to sell them after a strong bull market moves those allocations much higher,” said Hunt. 

“That tends to enforce a buy-low and sell-high discipline on your investments that is systematic, rather than speculative.”

The post 5 worst mistakes ASX share investors make during a sell-off appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

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Listed below are a couple of ASX 200 dividend shares that brokers believe are in the buy zone right now.

Here’s what income investors need to know about these dividend shares:

Harvey Norman Holdings Limited (ASX: HVN)

The first ASX 200 dividend share to look at is retail giant Harvey Norman.

It could be in the buy zone right now according to analysts at Goldman Sachs. Last week the broker reiterated its buy rating and $5.80 price target.

The broker likes Harvey Norman due to its belief that the company “has a greater preference within the boomer generation and a higher exposure to regional Australia.” Goldman believes this shields it from online disruption.

In addition, its analysts highlight that Harvey Norman has a strong property portfolio and that its shares trade on much lower multiples than peers.

A final positive is the generous dividend yields it is forecasting. Goldman estimates that Harvey Norman’s shares will provide fully franked yields of over 8% in FY 2022 and over 7% in FY 2023 and FY 2024.

Wesfarmers Ltd (ASX: WES)

Another ASX 200 dividend share that is rated highly is Wesfarmers. It is the conglomerate responsible for a range of brands such as Bunnings, Kmart, and Officeworks. It also has a portfolio of industrial businesses, including a lithium mining operation.

The team at Morgans is very positive on Wesfarmers and believes it has “one of the highest quality retail portfolios in Australia” and is run by “a highly regarded management team.”

Overall, the broker feels the company is well-placed for growth over the long term and has an add rating and $58.50 price target on its shares.

Its analysts are also expecting attractive dividend yields from the company’s shares in the coming years. Morgans is forecasting fully franked dividends per share of $1.62 in FY 2022 and $1.81 in FY 2023. Based on the current Wesfarmers share price of $49.39, this will mean yields of 3.3% and 3.65%, respectively.

The post Brokers name 2 ASX 200 dividend shares to buy now 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. owns and has recommended Harvey Norman Holdings Ltd. The Motley Fool Australia owns and has recommended Harvey Norman Holdings Ltd. and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) had a poor day and tumbled lower. The benchmark index fell 0.5% to 7,490.1 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to edge lower on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.15% lower this morning. On Wall Street, the Dow Jones fell 0.4%, the S&P 500 dropped 1%, and the Nasdaq sank 2.2%. The latter doesn’t bode well for the Australian tech sector today.

Mineral Resources rated as a buy

The Mineral Resources Limited (ASX: MIN) share price could be great value according to the team at Bell Potter. This morning the broker retained its buy rating and lifted its price target by 21% to $74.35. The broker made the move to reflect a material increase in Mineral Resources’ lithium production plans due to unprecedented demand.

Oil prices sink

It could be a difficult day for energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 4.8% to US$97.11 a barrel and the Brent crude oil price is down 4.4% to US$101.90 a barrel. An increase in US stockpiles and news that large consuming nations plan to release oil from reserves weighed on prices.

Bank of Queensland shares named as a buy

Bank of Queensland Limited (ASX: BOQ) shares could be in the buy zone according to analysts at Goldman Sachs. Ahead of the release of the regional bank’s half year results next week, the broker has reiterated its buy rating with an improved price target of $9.84. While Goldman expects a 17% decline in cash earnings to $222 million for the half, it remains very positive on the future. The broker expects strong earnings growth in FY 2023 and FY 2024.

Gold price edges rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price edged higher. According to CNBC, the spot gold price is up 0.1% to US$1,929.3 an ounce. Inflation and Ukraine worries boosted the precious metal.

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

More reading

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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 Bruce Jackson.

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ASX travel shares have taken to the skies in the past month.

Since the market open on 7 March, the Flight Centre Travel Group Ltd (ASX: FLT) share price has lifted nearly 20%. Shares in Webjet Limited (ASX: WEB) have climbed 9% in that time frame, while Qantas Airways Limited (ASX: QAN) shares have soared nearly 13%.

Meanwhile, the Helloworld Travel Ltd (ASX: HLO) share price is 17% higher, and Corporate Travel Management Ltd (ASX: CTD) shares have lifted 16% since this date.

Let’s take a look at why these travel companies had such a great month.

All aboard, restrictions lift

ASX travel shares have ascended amid building travel momentum as restrictions are lifted by governments around the world.

The upward trend began on 9 March amid news India would restart international flights from 27 March. Qantas is reportedly tapping into Australia’s huge Indian community and trade and investment market.

ASX travel shares had another stellar day on 10 March, as oil prices dropped as much as 17%. Oil prices, which impact the price of fuel, are a major cost for airlines.

On 16 March, the travel sector gained another boost when New Zealand announced it would open the border to Australian tourists earlier than expected.

Qantas shares went up 2.23%, Flight Centre shares gained 1.87% and Webjet shares climbed 3.28% on this day alone. Helloworld Travel also jumped 3.45%, while Corporate Travel Management surged 5.26%.

Also on this day, the United Kingdom advised that arrivals would no longer need to present a COVID-19 test to enter the country.

More good news

In another boost for travel, Health Minister Greg Hunt advised on 25 March that Australia’s biosecurity emergency would soon end.

This means a return to cruise travel, with the international cruise ship ban into Australian waters set to end on 17 April. Travellers will also no longer require a COVID-19 test on arrival into the country from this date. Mr Hunt said:

Following medical advice, the Biosecurity Emergency Determination relating to COVID-19 for Australia will not be renewed when it lapses on April 17.

In today’s trade, Qantas shares fell 1.35%, Webjet shares lifted 1.45% and Flight Centre shares climbed 3.55%. Helloworld Travel shares jumped 2.04% while Corporate Travel shares rose 2.22%.

The Webjet share price is Goldman Sachs’s top pick for the travel sector, my Foolish colleague James recently reported. The company has placed a $6.90 price target on the company’s shares, a 17% hike on the current share price.

The post ASX travel shares are flying higher in a month. Here’s why. appeared first on The Motley Fool Australia.

More reading

• Why the Flight Centre share price travelled 12% higher in March
• What happened to the Qantas share price today?
• Why this broker thinks the Webjet share price can fly 26% higher
• Here’s why the Flight Centre share price is taking off today
• How did the Webjet share price travel in March?

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 Bruce Jackson.

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