Category: Stock Market

The Novonix Ltd (ASX: NVX) share price has been going gangbusters today, surging to a mid-afternoon intraday high of $2.69, up 16.5%.

The Novonix share price has since retreated to trade at $2.60 at the market close, up 14.5%

The integrated battery materials developer and supplier has not announced any price-sensitive news since 23 June, where it purchased a second facility to produce anode materials.

But investors have been bidding up the Novonix share price with approximately 9.05 million shares changing hands on Tuesday. This compares to its 10-day average of approximately 1.96 million.

Let’s take a look at what else might be driving a sharp re-rating in Novonix shares.

Battery-related shares are running hot

The Novonix share price isn’t alone in today’s rally. The company supports the global deployment of lithium-ion batteries, and its peers — including battery developers, lithium miners and electric vehicle manufacturers — were also pushing higher.

Talga Group Ltd (ASX: TLG) develops a similar integrated battery anode plant in Sweden to produce anode products and lithium-ion batteries. The Talga share price pushed higher today, up 3.15% to close at $1.31.

Similarly, shares in Ecograf Ltd (AX: EGR) climbed today, closing up 4.17% at 62.5 cents apiece.

Ecograf is also positioned to support the global battery market, with operations in battery anode production and battery recycling.

Elsewhere, ASX lithium shares were surging on Tuesday, with heavyweight miners Galaxy Resources Limited (ASX: GXY), Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE) rallying between 1.63% and 4.88%.

Today’s rally also appears to be supported by gains from Wall Street peers overnight, including top lithium producer Albemarle Corporation and electric car manufacturer Tesla Inc.

About the Novonix share price

The Novonix share price has rallied 111.3% year-to-date, with most of its gains occurring between January and February.

From March onwards, its shares have stalled around the $2.30 level.

With today’s renewed buying interest, the Novonix share price has propped back up to a 5-month high.

The post Why the Novonix (ASX:NVX) share price rocketed 16% today appeared first on The Motley Fool Australia.

More reading

• It’s been a massive year for the Pilbara Minerals (ASX:PLS) share price
• ASX lithium shares are surging on Tuesday. Here’s why
• These 3 ASX 200 shares were big movers this Monday
• Why is the Mineral Resources (ASX:MIN) share price up 4% today?
• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tesla. 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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If you’re interested in gaining exposure to the small side of the market, then you might want to look at the small cap ASX shares listed below.

Here’s why these small cap ASX shares are ones to watch:

Damstra Holdings Ltd (ASX: DTC)

The first small cap to watch is Damstra. It is a growing integrated workplace management solutions provider which provides a cloud-based workplace management platform that is used by businesses globally. Its platform allows users to track, manage, and protect their workers and assets. Demand has been growing strongly in recent years and has continued in FY 2021. For example, during the third quarter, Damstra’s revenue increased 66% on the prior corresponding period to $6.9 million. This followed its highest ever monthly revenue in March and was underpinned by a 61% increase in active users to 689,000.

MyDeal.com.au Limited (ASX: MYD)

Another small cap to look at is MyDeal.com.au. It is an online retail marketplace with a focus on homewares, furniture, and technology. Like other ecommerce companies, MyDeal has been growing strongly over the last 12 months. This led to the company recently reporting full year sales growth of 111.1% to $218.1 million for the 12 months ended 30 June. This was underpinned by an 83.1% increase in customer numbers to 894,225 and significant momentum in Private Label sales during FY 2021.

Pointerra Ltd (ASX: 3DP)

A final small cap share to watch is Pointerra. It is a technology company that provides a powerful cloud-based solution for managing, visualising, and sharing massive 3D point clouds and datasets. Pointerra’s platform is able to extract vital information from the data that would otherwise take many hours to do. At the end of April, the company’s annualised contract value (ACV) stood at US$7.89 million. This is still only a very small fraction of a total market opportunity that management estimates is worth US$500 billion.

The post 3 growing small cap ASX shares to watch closely appeared first on The Motley Fool Australia.

More reading

• Why the Damstra (ASX:DTC) share price is on the move today
• Why Afterpay, Challenger, MyDeal, & St Barbara shares are charging higher
• Why the MyDeal (ASX:MYD) share price is jumping 20% today
• Here are the 5 best performing ASX tech shares from FY21
• Why Cettire, Damstra, IGO, & Rhipe shares are storming higher

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 shares of and has recommended Damstra Holdings Ltd and Pointerra Limited. The Motley Fool Australia owns shares of and has recommended Damstra Holdings Ltd. The Motley Fool Australia has recommended Pointerra 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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Most weeks, Commonwealth Bank of Australia (ASX: CBA)’s share trading service CommSec tells us the most popular US shares that its ASX investors have been trading the previous week.

Since CommSec is one of the most widely used brokers in Australia, this information can give us an interesting window into what ASX investors are finding exciting over in the USA right now. My Fool colleague James has already taken a look at CommSec’s most popular ASX shares today. But here are the top 10 US shares that CommSec users were trading last week. This week’s data covers 5-9 July.

Tesla in the driving seat, but Apple looking sweet

1. Tesla Inc (NASDAQ: TSLA) – representing 3.5% of total trades with a 67%/33% buy-to-sell ratio.
2. Apple Inc (NASDAQ: AAPL) – representing 2.8% of total trades with a 55%/45% buy-to-sell ratio.
3. GameStop Corp. (NYSE: GME) – representing 2.6% of total trades with a 93%/7% buy-to-sell ratio.
4. Alibaba Group Holding Ltd (NYSE: BABA) – representing 2% of total trades with a 79%/21% buy-to-sell ratio.
5. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 2% of total trades with a 66%/44% buy-to-sell ratio.
6. Microsoft Corporation (NASDAQ: MSFT)
7. Amazon.com, Inc. (NASDAQ: AMZN)
8. Nio Inc. (NYSE: NIO)
9. Virgin Galactic Holdings Inc (NYSE: SPCE)
10. Alphabet Inc Class C (NASDAQ: GOOG)

What can we learn from these trades?

That old habits die hard. Last week, we saw Nasdaq newcomer DiDi Global Inc (NYSE: DIDI) make an appearance here after its recent IPO.

Well, this week, we saw the old favourites of ASX investors reclaim their dominance. Electric vehicle and battery manufacturer Tesla is back on top, with investors going from a pretty even buy/sell split last week to decidedly biased towards the buy side this week. That coincides neatly with an 11% increase in the Tesla share price over the past month.

Apple also climbs from 5th spot last week to number 2 this week. Unlike Tesla though, investors are still pretty split down the middle when it comes to buying and selling.

In other news, we see many of the same faces returning. ‘Meme stocks’ like Nio, AMC and GameStop remain popular, as do the US tech blue chips like Apple, Microsoft and Alibaba (which is actually a Chinese company, but US listed). In that vein, we also see the return of Amazon and Google-parent Alphabet after a few weeks’ absence.

It’s interesting to note that Virgin Galactic retains its presence after several weeks of obscurity prior to last week. Perhaps Sir Richard Branson’s well-publicised space flight the other day has inspired some investors.

The post ASX investors were buying Tesla and Apple shares last week appeared first on The Motley Fool Australia.

More reading

• ASX lithium shares are surging on Tuesday. Here’s why
• Why Tesla stock took off on Monday
• The LiveTiles (ASX:LVT) share price is up 14% this month
• This is how Alphabet (still) makes most of its money
• Why Amazon was outpacing the market on Thursday

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Alphabet (A shares) and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Microsoft, NIO Inc., Tesla, and Virgin Galactic Holdings Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, and Apple. 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 Kula Gold Ltd (ASX: KGD) share price surged 32% today after the company announced the discovery of kaolin clays near Southern Cross, Western Australia.

Kula shares settled at 5.7 cents apiece by market close after reaching 6.7 cents at one stage.

Let’s take a closer look at what the announcement has in store for the Australian mineral explorer’s shares.

But first – what is Kula Gold?

Kula Gold is a minerals exploration company based in Western Australia.

Its expertise lies in acquiring “significant geological structures” that are positioned on or near major gold mines. This means its main objective is to find prospective metals, namely gold.

Kula has a market capitalisation of $9.6 million.

What does today’s announcement mean?

Kaolin, also known as kaolinite or ‘white clay’, is used in a variety of skincare products, toothpastes and hair products.

The discovery of the “high quality kaolin clays” is a plus for the company, with recent prices for such kaolin end-products fetching “up to $700 per tonne”.

The company also notes the recent success of several other kaolin miners from the current price action.

Therefore, Kula forms the view the “initial assays are significant in grade” to justify further investigation.

Specifically, the company reported:

RC drilling at the Airfield Project near Southern Cross WA intersected thick >42m vertical kaolin clay development over the 300m drilled length at the newly named Boomerang Kaolin Prospect.

Further touching on the drilling results, the company said:

Whilst Kula’s results are preliminary and need to be confirmed by follow up drilling and assays, the Company
believes that the initial assays are significant in grade and extent and require further investigation and drilling.

Today’s announcement comes after the company announced it had successfully “recognised a geophysical structure” in its Southern Cross Gold project on 2 July.

In its release, Kula explained it had found “large areas of previously unmapped or recognised amphibolite” at this location.

Amphibolite is a stone that is used in paving and road construction. Following the discovery, Kula revealed it had applied for new applications, adding to its 570km2 Airfield location.

Kula share price snapshot

The Kula share price has climbed ~28% this year to date, extending the previous 12 months’ return of 46%.

These gains have outpaced the S&P/ASX 200 Index (ASX: XJO)’s return of ~11.3% this year to date.

The share price is trading just off its 52-week high of 6.9 cents but well above its 52-week low of 2.8 cents.

The post The Kula Gold (ASX: KGD) share price leaps 32% after drilling results appeared first on The Motley Fool Australia.

More reading

• Ansarda (ASX:AND) share price surges on record quarter
• Top brokers name 2 ASX dividend shares to buy today
• Here are 3 ASX 200 shares flying around the markets today
• Why the Atomos (ASX:AMS) share price is up 23% in a month
• Clean TeQ Water (ASX:CNQ) share price gushes 10% higher today

The author Zach Bristow has no positions 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 Ansarada Group Ltd (ASX: AND) share price surged to a five-month high on Tuesday after it posted a record quarter.

The Ansarada share price surged 6% to $1.35 ahead of the close when the IT sector was struggling to keep its head above water today.

In contrast, the S&P/ASX 200 Index (Index:^AXJO) eked out a 0.2% improvement as it gave up most of its morning gains.

Big customer growth drives Ansarada share price higher

But the Ansarada share price remained well bid as management reported a 99% increase in new customer wins for the June quarter compared to the same period last year.

This takes total subscribers on its confidential information sharing platform to 2,566, which is a 41% uplift over 4QFY20.

What’s more, the customer wins have translated to a 17% improvement in revenue to $9.3 million in the latest quarter. Deferred revenue is up a more impressive 76% to $13.6 million over the same periods.

Ansarada share price still lagging peers

Shareholders will be hoping that the latest quarterly marks a turnaround in disappointing performance of the Ansarada share price.

Even with today’s big rally, its shares are still down by nearly a third over the past year following its reverse takeover of The Doc Yard.

That’s surprising given that anything to do with tech and growing recurring revenues would be hot property.

Just look at the Xero Limited (ASX: XRO) share price, Afterpay Ltd (ASX: APT) share price and Life360 Inc (ASX: 360) share price.

Why Investors are overlooking Ansarada

Perhaps one big issue is that not many retail investors understand the value proposition of the Ansarada offering.

It’s software as a service (SaaS) platform allows enterprise customers to share and collaborate on confidential documents. Such a service is useful in mergers and acquisitions (M&As), sharing of board papers and tenders.

These aren’t small niche markets. Ansarada is trying to point out the size of the opportunity by highlighting its use in the global infrastructure boom.

Chasing big market opportunities

Governments around the world are ramping up infrastructure construction as a way to stimulate their economies in the COVID-19 aftermath. Ansarada reckons the size of this opportunity is worth US$3.9 trillion.

Ansarada is leveraged to this theme as it says governments use its Tenders and Deals products to manage high-value/high-risk information.

This isn’t only in the management of the tender process, but also the lifecycle of financing and M&A activities across the infrastructure asset lifecycle.

The post Ansarda (ASX:AND) share price surges on record quarter appeared first on The Motley Fool Australia.

More reading

• Here are 3 ASX 200 shares flying around the markets today
• How did the S&P/ASX All Technologies Index (XTX) perform in FY21?
• ASX 200 midday update: Nearmap rockets, Incitec Pivot jumps
• Are the 10 highest paid ASX 200 CEOs worth their paypackets?
• Up 12% in a month, is there more to come from the Afterpay (ASX:APT) share price?

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Fortunately, in this low interest rate environment, there are countless dividend shares for investors to choose from on the Australian share market.

But with so many to choose from, it can be hard to decide which ones to buy over others. To narrow things down for you, I have picked out two ASX dividend shares brokers think income investors should buy:

Medibank Private Ltd (ASX: MPL)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this private health insurance company’s shares to $3.50. The broker made the move after increasing its earnings estimates to reflect positive investment market movements and improving trading conditions in the private health insurance industry.

As for dividends, Credit Suisse expects 13 cents per share in FY 2021 and then 14 cents per share in FY 2022. Based on the latest Medibank share price of $3.25, this implies attractive fully franked yields of 4% and 4.3%, respectively, for investors over the next couple of years.

National Australia Bank Ltd (ASX: NAB)

A note out of Macquarie reveals that its analysts have upgraded this banking giant’s shares to an outperform rating with a $28.00 price target. According to the note, the broker upgraded its shares on valuation grounds following a period of underperformance. In addition to this, the broker notes that NAB has a strong capital position. It feels this should allow NAB to absorb any negative impacts of the AUSTRAC investigation and a potential economic slowdown.

In respect to dividends, Macquarie is forecasting fully franked dividends of $1.20 per share in FY 2021 and then $1.25 per share in FY 2022. Based on the latest NAB share price of $26.32, this will mean generous yields of 4.6% and 4.75%, respectively, for income investors over the next two years.

The post Top brokers name 2 ASX dividend shares to buy today appeared first on The Motley Fool Australia.

More reading

• Why the NAB (ASX: NAB) share price has jumped today
• Which ASX 200 shares helped deliver record profits and a 4.5% dividend?
• Leading brokers name 3 ASX shares to buy today
• Top broker tells investors to stand ready to take profit on ASX bank shares
• NAB (ASX:NAB) share price lifts amid news of bid to acquire Citi banking

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 S&P/ASX 200 Index (ASX: XJO) is having a decent day today. At the time of writing, the ASX 200 is up 0.14% to 7,344 points. But let’s dig a little deeper, and see which ASX 200 shares are being the most heavily traded this Tuesday:

3 ASX 200 shares flying around the share market today

Shopping Centres Australasia Property Group Ltd (ASX: SCP)

SCA Property Group is our first ASX 200 share flying around the markets today. In fact, a very solid 11.9 million shares have changed hands so far this Tuesday. That’s despite no major news or announcements out of this ASX property company. In saying that, SCA Property Group is up 3.36% so far this week, including a healthy 1.23% bump just today. Perhaps it’s this steady climb that is causing this company’s shares to be so heavily traded.

Incitec Pivot Ltd (ASX: IPL)

Fertiliser and explosives manufacturer Incitec Pivot is another ASX 200 share that’s seeing some heavy trading volume today. So far, approximately 15.7 million Incitec shares have changed hands today. Unlike SCA Property, it’s fairly easy to see where this volume is coming from.

Incitec Pivot shares are up a very hefty 7% today so far to $2.60 a share. As my Fool colleague Aaron covered this morning, ASX 200 investors seem to be responding to an update the company put out today before market open. This update told the markets that Incitec is moving towards a regional manufacturing model, moving away from its old global model. This is partly due to the changing nature of the pandemic, with international borders around the world remaining restricted or closed.

Investors seem to have given their tick of approval to this move.

Bingo Industries Ltd (ASX: BIN)

Bingo is our top ASX 200 performer in terms of trading volume today, with a very substantial 18.26 million shares changing hands so far this Tuesday. Again, we have a clear motive here. This morning, Bingo put out an announcement, which declared that almost 97% of its shareholders have voted in favour of the proposed takeover by a subsidiary of Macquarie Infrastructure and Real Assets.

This subsidiary will now acquire all issued Bingo shares, pending court approval, with Bingo scheduled to leave the ASX 200 and the ASX boards on Thursday. Bingo also announced a special dividend of 11.7 cents a share at the same time.

The post Here are 3 ASX 200 shares flying around the markets today appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Nearmap rockets, Incitec Pivot jumps
• Are the 10 highest paid ASX 200 CEOs worth their paypackets?
• Why the Incitec Pivot (ASX:IPL) share price is racing 8% higher today
• 5 things to watch on the ASX 200 on Tuesday
• These 3 ASX 200 shares were big movers this Monday

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Shopping Centres Australasia Property Group. 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 Atomos Ltd (ASX: AMS) share price has been flying lately, gaining 23% in the last month.

At close of trade today, shares in the content creation technology company were swapping hands for $1.23. This time last month, they were going for just $1.00.

The gains to the Atomos share price come despite the company releasing just a single piece of news to the market in the last month. However, its CEO has been in the news today for all the wrong reasons.

Let’s take a look at what Atomos has been up to lately.

The latest news on Atomos

Sydney escapee

Atomos is in the news today after its CEO Jeromy Young was allegedly caught trying to break COVID-19 border restrictions aboard a super yacht.

Maritime Safety Queensland noted a 32-metre super yacht had landed on the Gold Coast after travelling from Sydney. 7 News reported today that Young was among the 4 people on board the super yacht.

After arriving on the Gold Coast, the group attended a rugby game in Brisbane on Wednesday before being fined for providing false and misleading information to get across the Queensland border.

They have all since tested negative to COVID-19.

The last we heard from Atomos

Aside from its CEO’s escapades, the only time we’ve heard from Atomos this month was on 30 June when the company released a trading update.

The update pushed the Atomos share price up to close 11.46% higher than its previous session.

The trading update announced record sales for the 2021 financial year. The company has brought in more than $77 million – 73% more than the previous financial year.

It also recorded more than $44.2 million worth of sales in the second half of the 2021 financial year. That’s 275% more than the prior corresponding period.

Atomos share price snapshot

The Atomos share price has been performing well lately. It’s gained 26% year to date. It is also 186% higher than it was this time last year.

The company has a market capitalisation of around $269 million, with approximately 218 million shares outstanding.

The post Why the Atomos (ASX:AMS) share price is up 23% in a month appeared first on The Motley Fool Australia.

More reading

• Here’s why the Atomos (ASX:AMS) share price is surging 9%
• Carsales (ASX:CAR) and 4 other ASX tech shares still worth holding: analyst

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Atomos Ltd. The Motley Fool Australia has recommended Atomos 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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The Clean TeQ Water Ltd (ASX: CLQ) share price rose strongly today following an update on its share sale facility.

At the time of writing, the company’s shares are up 10% to $1.32. It’s worth noting that at one point, the share price reached an all-time high of $1.45 during the morning.

Quick take on Clean TeQ Water

Newly listed on the ASX, Clean TeQ Water is a metals recovery and water treatment solutions company. Its technology includes desalination, nutrient removal, zero liquid discharge and hardness removal.

Earlier this month, Clean TeQ Water separated from Sunrise Energy Metals Ltd (ASX: SRL), formerly named Clean TeQ Holdings. The spin-off is to allow Sunrise Energy Metals to focus on its nickel-cobalt-scandium project in New South Wales.

As a result, shareholders in Sunrise Energy metals received one Clean TeQ Water share for every two shares held.

Completion of share sale facility

Investors are pushing Clean TeQ shares into new territory after the company revealed its latest announcement.

Clean TeQ Water advised that the sale of its shares through the demerger share sale facility has been completed.

According to the Demerger Booklet released 17 May, a share sale facility was established to allow eligible shareholders to sell their Clean TeQ Water shares. This included shareholders who had less than 5,000 Sunrise Energy Metals shares and those who were not eligible to receive Clean TeQ Water shares.

The share sale facility provided shareholders with the opportunity to transact without incurring any brokerage or other costs.

In total, 63,235 Clean TeQ Water shares were sold on market through the share sale facility. The average price for these shares was approximately 93.4 cents per share.

The gross proceeds of the share sale facility will be distributed amongst eligible shareholders at a later date.

About the Clean TeQ Water share price

Since debuting on the ASX boards on 2 July, Clean TeQ Water shares have continued their upward trend. The company’s share price hit an all-time high of $1.45 during the first 30 minutes of market open today.

Clean TeQ Water presides a market capitalisation of roughly $59 million, with more than 44.6 million shares outstanding.

The post Clean TeQ Water (ASX:CNQ) share price gushes 10% higher today appeared first on The Motley Fool Australia.

More reading

• Will the Qantas (ASX:QAN) share price take off soon?
• The Zip (ASX: Z1P) share price has rocketed up 14% in a week. Let’s see why
• A2 Milk and Zip were among the most traded ASX shares last week
• Why the Suncorp (ASX:SUN) share price just broke its 52-week high
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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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2021 certainly has been a turbulent year for the Qantas Airways Limited (ASX: QAN) share price.

After being up as much as 12% year to date to $5.50 in March, the Qantas share price is now in negative territory for the year at $4.75.

In light of this turbulence, investors will no doubt be interested to know where analysts think the airline operator’s shares are going next.

What do brokers think about the Qantas share price?

A number of leading brokers remain positive on the Qantas share price despite the recent lockdowns in Sydney that are disrupting the travel market.

According to a note out of Morgan Stanley, its analysts have an overweight rating and $7.00 price target on the company’s shares. This price target implies potential upside of 47% over the next 12 months for Qantas shares.

Morgan Stanley is expecting a gradual improvement in group capacity over the next two years, before things normalise again in FY 2024.

More bullish brokers

Another broker that sees value in Qantas shares is Citi. It currently has a buy rating and $5.89 price target on them.

According to the note, while the broker is expecting its international recovery to take some time, it remains very positive on its domestic business. This is due to market share gains and strong economics.

Finally, Goldman Sachs is another leading broker that appears to believe Qantas shares offer compelling value for investors. Its analysts currently have a buy rating and $6.38 price target on its shares. This implies potential upside of 34% over the next 12 months.

Goldman commented: “QAN represents a strong recovery investment, if the Australian COVID-19 vaccination program has the effect of reducing community transmission of the virus and limits the need for domestic border closures.”

In light of the above, this could make Qantas an ASX 200 share to watch over the coming months.

The post Will the Qantas (ASX:QAN) share price take off soon? appeared first on The Motley Fool Australia.

More reading

• It has been a big past year for the Qantas (ASX:QAN) share price
• Here are the 5 best ASX transport shares of the 2021 financial year
• The ASX shares with the most to lose from a delayed COVID reopening
• 3 ASX shares looking pretty cheap right now: expert
• ASX travel shares slip as Sydney lockdown extends for another week

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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