Category: Stock Market

Why the Nufarm share price is crashing lower today
The Nufarm Limited (ASX: NUF) share price is the worst performer on the S&P/ASX 200 Index (Index:^AXJO) this morning despite its efforts to hide its trading update.

Shares in the crop products group plunged 10.8% to $4.90 when the top 200 stock benchmark gained 0.5%.

The only other ASX shares on the worst performer list were gold producers like Silver Lake Resources Limited. (ASX: SLR) and Northern Star Resources Ltd (ASX: NST) as the gold price fell. But even then, these stocks “only” slumped around 6% each.

Nothing to see here

It’s funny how Nufarm didn’t think it was appropriate to mark its latest announcement to the ASX as “market sensitive” when the share price reaction says otherwise.

An oversight maybe? I would be more forgiving if not for the fact that management buried the update in its announcement titled “Presentation to Credit Suisse Conference”.

It that didn’t smell bad enough, the company lodged it after the market closed at 4.10pm yesterday.

Wrong way to release bad news

Happy coincidence? Call me a conspiracy theorist, but it looked like the company went out of its way to bury the news.

Now Nufarm doesn’t only have to contend with the negative update but questions about management’s credibility, in my view.

Unfortunately, the subterfuge (international or otherwise) didn’t work as at least two brokers downgraded the stock on the back of the update.

Europe is a sore point

The analysts at Macquarie Group Ltd (ASX: MQG) cut its recommendation on Nufarm to “underperform” (meaning a “sell) from “neutral”.

The downgrade was done on the back of management’s comments that the COVID-19 pandemic is creating uncertainties and challenges, such as product demand and exchange rates.

Macquarie noted that the last quarter of the financial year is usually the group’s largest seasonal quarter.

“Europe is experiencing both cyclical and structural headwinds,” said the broker.

“Whilst COVID impacts have exacerbated this, Europe is likely to remain challenging in the medium term given a tougher regulatory backdrop and competitive market conditions.”

The broker cut its 12-month price target on Nufarm to $4.85 from $5.10 a share.

Ahead of fundamentals

Meanwhile, Morgans also downgraded its rating on the stock to “reduce” from “hold”.

“COVID-19 has started to have a greater impact in the 4Q20,” said Morgans.

“As well as dry conditions, Europe’s 2H20 earnings outlook has been materially revised. Finance costs are also now expected to be significantly higher.”

The broker’s price target on Nufarm is $4.76 a share.

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As of 2/6/2020

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Motley Fool contributor Brendon Lau owns shares of Macquarie Group Limited and Nufarm Limited (oh no!). Connect with me on Twitter @brenlau.

The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the Nufarm share price is crashing lower today appeared first on Motley Fool Australia.

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3 June 2020
Revisiting The Coronavirus Vaccine Race: Updates On The 10 Candidates In Clinics

The global economy is slowly emerging from lockdowns enacted to beat back the coronavirus. The pandemic isn't going anywhere, however, and hopes of a return to a semblance of normal rest heavily on the speedy development of vaccines against SARS-CoV-2, the virus that causes COVID-19.Fast-Tracking Vaccine Programs Vaccine development typically takes about 10-15 years, as it has to go through the same general pathway as that of drugs and biologics. With the advent of new classes of vaccines such as DNA and mRNA vaccines, development timelines could be tightened relative to traditional vaccines.Pandemics in recent history such as the MERS and SARS, also caused by coronaviruses, set in motion several R&D programs that have come in handy in today's scenario, as the new coronavirus shares 80% of its traits with its predecessors.Public-private partnerships have been forged to expedite vaccine programs. In mid-April, the National Institutes of Health announced a co-operative framework involving several biopharma companies, the Health and Human Services Office of the Assistant Secretary for Preparedness and Response, the CDC, the FDA and the European Medicines Agency for expediting drug and vaccine research. Federal agencies have extended funding for companies with promising vaccine candidates in their pipeline, and this has given them the freedom to focus on research without having to worry about finances.The U.S. government recently launched the "Operation Warp Speed" project, which has among its objectives ensuring the availability of substantial quantities of a safe and effective vaccine for Americans by January 2021.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.US Government Backs 5 Vaccine Candidates In order to narrow the focus on the most deserving vaccine candidates, the Trump administration has shortlisted five from a crowded field and will likely make an announcement in this regard in the next few weeks, the New York Times reported.The shortlisted companies are, according to the Times: * Moderna Inc (NASDAQ: MRNA) * The Oxford University/AstraZeneca plc (NYSE: AZN) combination * Johnson & Johnson (NYSE: JNJ) * Merck & Co., Inc. (NYSE: MRK) * Pfizer Inc. (NYSE: PFE)Incidentally, Merck was a late entrant in the vaccine race, with the pharma giant announcing partnerships and deals to develop COVID-19 treatments and vaccines only recently.10 Vaccine Candidates In Clinics, 123 More In Labs A June 2 document from the World Health Organization showed that 10 vaccine candidates are in the clinics and 123 more are being evaluated in animal studies. Among the 10 vaccine candidates being tested in human studies, five are developed by Chinese firms or institutions. Here's an update on the 10 vaccines in the clinics:University Of Oxford/AstraZeneca The vaccine developed by the University of Oxford in collaboration with AstraZeneca was codenamed ChAdOx1 nCoV-19, a weakened version of a common cold virus that causes infections in chimpanzees.It has been genetically modified to make to prevent it from replicating in humans. After the university tied up with AstraZeneca, the vaccine candidate was renamed as AZD1222. AZD1222 is in a Phase 2/3 trial, with the university enrolling participants for the study in late May.Results from an ongoing Phase 1/2 trial could be available in mid-June; a university official was quoted as saying mid-May. AstraZeneca has received over $1 billion in BARDA funding for the development, production and delivery of the vaccine starting this fall.In late May, Adrian Hill, one of the lead investigators of the vaccine program, suggested the vaccine has only a 50% chance of succeeding, as the viral incidence receded in the community.Moderna Moderna, which is collaborating with NIAID for developing an mRNA vaccine, codenamed mRNA-1273, said recently it has dosed the first participant in a Phase 2 trial. The company also released interim data for its vaccine candidate from a NIAID-sponsored Phase 1 study, which showed dose-dependent increases in immunogenicity between prime and boost within the 25-microgram and 100-microgram dose levels. Moderna has prepped for scaling by forming an alliance with Swiss CDMO Lonza.See also: Inovio Analyst Watches Coronavirus Play 'From The Sidelines'CanSino Biological Inc./Beijing Institute of Biotechnology CanSino, which was the first to begin vaccine testing, announced last week the publication of Phase 1 data of its vaccine candidate Ad5 that showed most people developed immune responses.Yet he number of people developing neutralizing antibodies — the ones that count for preventing infection — was 75% among those who received the high dose and 50% among those who received the medium or low dose.A Phase 2 study of Ad5 was started in April and is underway. Ad5 is a genetically engineered adenovirus that delivers the gene encoding the spike protein of the SARS-CoV-2 into human cells.Wuhan Institute of Biological Products/Sinopharm The combo's vaccine candidate entered Phase 2 trials April 24, according to Xinhua. The Phase 1 trial is ongoing, the report said at that time. Sinopharm, one of the partners, seemed to suggest it will take one year of evaluation to determine the efficacy and safety of the inactivated vaccine candidate.Sinovac Sinovac, which began working on an inactivated vaccine candidate in January, said recently it is 99% confident in its vaccine candidate, codenamed CoronaVac. The candidate is in a Phase 1/2 trial. The company recently received $15 million in funding from private investors in lieu of a stake in the company.Novavax Novavax, Inc. (NASDAQ: NVAX) identified its vaccine candidate, codenamed NVX-CoV2373, in early April. The vaccine candidate is a stable prefusion protein made using the company's proprietary nanoparticle technology, with Matrix-M adjuvant incorporated to enhance the immunity response of the vaccine.The company said May 25 it enrolled the first participant in the Phase 1 portion of a Phase 1/2 study it has initiated, with results from the Phase 1 portion expected in July. In mid-May, the company announced an award of an incremental $384 million in funding by the Coalition for Epidemic Preparedness Innovations. On Wednesday, AGC Biologics said it has been tasked with manufacturing Matrix-M adjuvant by Novavax.Beijing Institute Of Biological Products/Sinopharm State-affiliated Beijing Institute of Biological Products, which is developing an inactivated vaccine in a Phase 1/2 trial, has started the Phase 2 trial, a post on the WeChat account of the Chinese state-owned Assets Supervision and Administration Commission said. Pfizer/BioNTech Pfizer is collaborating with German biopharma BioNTech SE – ADR (NASDAQ: BNTX) for vaccine development. BioNTech is evaluating four vaccine candidates in its BNT162 program. These are mRNA vaccines combined with a lipid nanoparticle formulation. BNT162 is being tested in separate Phase 1/2 trials in Europe and the U.S. Pfizer will be vested with the responsibility of scaling up at risk.Institute Of Medical Biology, Chinese Academy Of Medical Sciences In mid-May, the institute received approval for commencing a Phase 1 study.Inovio Inovio Pharmaceuticals Inc (NASDAQ: INO), which is developing a DNA vaccine codenamed INO-4800, said in its May 11 earnings release it has completed enrollment in a Phase 1 study.It anticipates commencing a Phase 2/3 efficacy trial in summer, subject to regulatory approval. Inovio has received funding from the CEPI as well as the Bill & Melinda Gates Foundation.Among others, J&J, which has identified a lead vaccine candidate, plans a clinical study by September. The company expects the first batches of a vaccine to be available for emergency use authorization by early 2021.Several other companies are also in the fray, including Sorrento Therapeutics Inc (NASDAQ: SRNE), Regeneron Pharmaceuticals Inc (NASDAQ: REGN) and Sanofi SA (NASDAQ: SNY).Related Link: These 6 Coronavirus Vaccine Candidates Are The Likeliest To Succeed, Says Morgan Stanley See more from Benzinga * The Daily Biotech Pulse: Regulatory Delay For Novartis' Multiple Sclerosis Drug, FSD Gets Nod For COVID-19 Study * The Daily Biotech Pulse: FDA Nod For Roche's Combo Therapy In Liver Cancer, Allena Rips Higher, Pfizer To Invest Up To 0M In Biotechs * Attention Biotech Investors: Mark Your Calendar For June PDUFA Dates(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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3 June 2020
Hong Kong Bull Market Found Dead in a Posh Flat

(Bloomberg Opinion) — Hong Kong’s finance industry is thriving from the great divorce between the U.S. and China. Billion-dollar initial public offerings are on the horizon again, as New York-listed mainland companies seek a second home. The city’s blue-chip index has even revised its weighting rules so tech stocks can feature more prominently. But is this enough to rouse a sleepy stock market? While Hong Kong is on par with Shanghai in terms of total market capitalization, turnover pales in comparison, and it's practically a stagnant pool compared with the very liquid Shenzhen bourse. While mega IPOs are exciting, they are one-time events. Once bankers earn their fees and wave goodbye, trading could languish again.South Korea may offer some insights. One year ago, Seoul was still in a deep bear market, plagued by steep conglomerate discounts and historically low turnover. Now, it’s teeming with life. Since global markets started turning around in late March, the benchmark Kospi index has soared more than 40%, making it one of the world’s best performers.All of a sudden, Koreans, who dabbled in cryptocurrencies and all sorts of structured products, are frantically buying cash equities. Retail investors have single-handedly supported the main stock index as foreigners and domestic institutional investors sold.CLSA Ltd. recently conducted a fascinating study explaining what’s become one of the Kospi’s largest ownership changes in history. Survey data show a few usual suspects: historically low deposit rates, cheap valuations, and blow-ups in popular alternative investments, such as mezzanine convertible bonds and equity-linked securities. A liquidity crisis and global market meltdown have tamed Koreans’ taste for exotic products.But the most interesting finding is that investors are swapping their real estate holdings for stocks. This comes as President Moon Jae-in’s administration has made it harder to invest in residential property, with a recent ban on mortgage lending for anything valued over 1.5 billion won ($1.2 million). In the past few years, a series of tightening measures has worked: A flattening of home prices, along with dwindling sales volumes, dented investor sentiment.Apartments in Seoul were once considered one of Korea's best performing long-term assets. They registered a capital gain of 80.9% over the past 15 years, with flats in the affluent Gangnam district returning more than 200%, data provided by CLSA show. Yet property restrictions look set to remain as long as Moon’s around — and he’s not required to leave office until 2022. So people with money to invest have to look elsewhere. Samsung Electronics Co., which gained 443% over the same period, is a good alternative. Retail investors have poured $7.2 billion into the company’s shares this year. Many of the catalysts that drove Koreans to stocks are present in Hong Kong, too. Interest rates are even lower and high-profile stocks are landing, including NetEase Inc., while Alibaba Group Holding Ltd. completed its secondary listing last year. Meanwhile, local investors can no longer count on HSBC Holdings Plc for reliable dividend payouts, forcing them to look at tech companies instead. It’s no coincidence that the retail portion of NetEase’s Hong Kong listing was met with brisk demand on the first day, enabling the company to increase its allotment to local investors. The missing piece, however, is real estate. As soon as Hong Kong loosened its social distancing rules in May, secondary home-sales prices ticked up, along with transaction volume. The Land Registry recorded 6,885 property deals in May, a 12-month high. The faith that this sector can outperform stocks hasn’t broken yet. For an equity market to shine, local retail participation is essential. Overseas institutional investors, the biggest contributors to Hong Kong’s turnover, come and go. Those from the mainland, now active players through the stock connect, are equally fickle, given they’re so used to liquidity-driven markets back home. So unless Hong Kong moms and pops can learn from the Koreans — trading away their flats in Gangnam for a slice of Samsung — the Hang Seng will remain asleep. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. She previously wrote on markets for Barron's, following a career as an investment banker, and is a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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3 June 2020
Should you be an ASX bull or bear right now?
It’s hard to know whether to be an ASX bull or bear in the market right now. The S&P/ASX 200 Index (INDEXASX: XJO) has had a wild start to the year. The benchmark Aussie index hit a new record high in mid-February and things were looking up. The index breached the 7,000 point mark and looked to be heading higher.

Then we saw the coronavirus pandemic change everything. Countries locked their borders and economies went into hibernation. Record government stimulus and a favourable monetary policy were designed to prop up economic growth.

There was the oil price war between Saudi Arabia and Russia which sent ASX energy shares tumbling. We saw an ASX bear market in February as the market was briefly in freefall.

However, ASX 200 shares have been rebounding strongly in April and May. In fact, the S&P/ASX 200 Index is up more than 30% since 23 March.

So, with all that’s going on in the share market, should you be an ASX bull or bear right now?

Should you be an ASX market bull or bear today?

There’s a saying from Jim Cramer that goes, “bulls make money, bears make money, pigs get slaughtered“.

What it really means is that investors who take a strong view on either direction of the market, generally, do well, while indecisive investors lose out. If you’re an ASX bull, you could have netted a tidy return in the current market recovery. Likewise, a bear market investor could have made money in the February and March downturn.

But the “pigs”, being those investors trying to time the market and unsure of their positions, are the ones that lost out. I think the easiest way to avoid that is to remember that you’re investing for the long-term.

Whether a bull or bear market, what happens today or tomorrow won’t affect your portfolio in 30 year’s time. I’m an ASX bull on a long-term timeframe which makes buying ASX shares easier.

In fact, I just view a downturn as a fire sale of my top ASX shares.

Here are a few of my favourite undervalued companies that might be worth adding to your buy list in 2020.

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One is a diversified conglomerate trading over 30% off it’s all-time high, all while offering a fully franked dividend yield of over 3%…

Another is a former stock market darling that is one of Australia’s most popular and iconic businesses. Trading at a significant discount to its 52-week high, not only does this stock offer massive upside potential, but it also trades on an attractive fully franked dividend yield of almost 4%.

Plus, this free report highlights 3 more cheap bets that could position you to profit in 2020 and beyond.

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But you will have to hurry because the cheap share prices on offer today might not last for long.

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As of 2/6/2020

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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Should you be an ASX bull or bear right now? appeared first on Motley Fool Australia.

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3 June 2020
2020’s Dividend Aristocrats List: All 66 Stocks

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3 June 2020
Will the HomeBuilder stimulus boost ASX 200 building shares?
ASX 200 building and construction shares could receive a boost with the federal government announcing a planned $688 million HomeBuilder stimulus package. The income tested program is expected to last 6 months and aims to support jobs and activity in the construction sector.

Under the program, eligible individuals will receive a $25,000 cash grant to spend on constructing a new home or on renovations to their existing property. The stimulus package comes amid a projected decline in housing construction activity as a result of the coronavirus pandemic.

Here are 2 ASX 200 building shares that could get a boost following the roll out of the HomeBuilder stimulus package.

Brickworks Limited (ASX :BKW)

Brickworks is a leading supplier of bricks, masonry and roof tiles across Australia and North America. The ASX 200 company boasts 26 manufacturing sites and over 40 design centres throughout Australia. It is one of the world’s largest building materials manufacturers and has a highly diverse product portfolio.

Brickworks recently provided a trading update which highlighted the impact of coronavirus on the construction sector. The company reported a 10% decline in sales revenue in Australia for the 4 months to May 2020. In addition, Brickworks reported a 30% decline in sales activity for its US operations during April and May.

Despite this bad news, the Brickworks share price has jumped more than 38% from its lows in April. It could also be poised to surge further following execution of the government’s stimulus package.

CSR Limited (ASX: CSR)

CSR offers a wide range of products used in the later stages of home construction and renovation. The company produces notable brands such as Gyprock plasterboard, PGH bricks, Hebel concrete blocks and Bradford insulation.

CSR released its annual report in mid-May for its financial year ending 31 March. The ASX 200 company reported a 6% fall in building products revenue for the year. It also reported a 3% decline in revenue from building products for the first 6 weeks of its 2021 financial year compared to the prior corresponding period.

Furthermore, CSR scrapped its final dividend in response to the coronavirus crisis in order to conserve capital. Due to the uncertain and tough economic conditions, CSR has not provided profit forecasts for the current financial year. Notwithstanding the uncertainty, the CSR share price has rebounded more than 57% from its March low.

Are these ASX 200 building shares in the buy zone?

In my opinion, ASX 200 building and construction share prices could experience a short-term boost. However, I feel the long-term outlook remains extremely uncertain. Due to the nature of contract life cycles in the sector, impacts of coronavirus could still be felt in 6 to 12 months’ time. In addition, with the Australian economy facing a recession, it’s unknown how long the government’s cash grant will be able to help support the building and construction industry.

If you don’t feel building and construction shares are poised for growth, here are 5 shares that could be.

5 “Bounce Back” Stocks To Tame The Bear Market (FREE REPORT)

Master investor Scott Phillips has sifted through the wreckage and identified the 5 stocks he thinks could bounce back the hardest once the coronavirus is contained.

Given how far some of them have fallen, the upside potential could be enormous.

The report is called 5 Stocks For Building Wealth after 50, and you can grab a copy for FREE for a limited time only.

But you will have to hurry — history has shown the market could bounce significantly higher before the virus is contained, meaning the cheap prices on offer today might not last for long.

See the 5 stocks

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Brickworks. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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3 June 2020
Congress eases PPP loan terms to aid small business: What to know

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3 June 2020
These ASX healthcare shares could be long term market beaters
Due to the favourable tailwinds that it is experiencing, I believe the healthcare sector is a great place to invest with a long term view.

But with so many options for investors to choose from, which ones should you be buying?

Below are three ASX healthcare shares I think could provide stellar returns for investors over the long term:

Avita Medical Ltd (ASX: AVH)

The first healthcare share to look at is Avita Medical. It is a global regenerative medicine company which I think has a lot of potential. It is best known for its Recell system, which is a spray-on skin treatment used for burns victims. Demand for its offering has been growing very strongly over the last couple of years. This led to the company recently revealing an 84% increase in revenue for the 9 months ending 31 March 2020. While the company has a huge market opportunity already, it is seeking to extend Recell’s use to treat vitiligo. Combined, the company has a significant runway for growth over the next decade.

Pro Medicus Limited (ASX: PME)

Another ASX healthcare share to consider buying is Pro Medicus. It provides a full range of radiology IT software and services to hospitals, imaging centres, and healthcare groups. The key product in its portfolio is the increasingly popular Visage 7 Enterprise Imaging Platform. This platform delivers fast, multi-dimensional images streamed via an intelligent thin-client viewer. Demand for Visage 7 has been growing strongly in recent years and continues to this day. In fact, on Monday Pro Medicus announced a major new contract with one of the highest rated hospitals in the United States. I believe this is a testament to the quality of its offering. It also revealed that it has a number of other sales opportunities in its pipeline that it is working on.

Ramsay Health Care Limited (ASX: RHC)

A final healthcare share to look at is Ramsay Health Care. It is a global private hospital operator with 480 facilities across 11 countries. The next 12 months are not going to be easy for Ramsay due to both the pandemic and overall tough trading conditions in the private hospital space. However, I believe these headwinds will ease over the medium term and Ramsay’s growth will accelerate. Especially given how well-placed the company is to capture the expected increase in demand for healthcare services due to ageing populations.

And here are more top shares to consider. All five recommendations below look like future market beaters…

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Our experts at The Motley Fool have just released a FREE report detailing 5 shares you can buy now to take advantage of the much cheaper share prices on offer.

One is a diversified conglomerate trading over 30% off it’s all-time high, all while offering a fully franked dividend yield of over 3%…

Another is a former stock market darling that is one of Australia’s most popular and iconic businesses. Trading at a significant discount to its 52-week high, not only does this stock offer massive upside potential, but it also trades on an attractive fully franked dividend yield of almost 4%.

Plus, this free report highlights 3 more cheap bets that could position you to profit in 2020 and beyond.

Simply click here to scoop up your FREE copy and discover the names of all 5 cheap shares.

But you will have to hurry because the cheap share prices on offer today might not last for long.

YES! SEND ME THE FREE REPORT!

As of 2/6/2020

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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 recommends Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical Limited, Pro Medicus Ltd., and Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post These ASX healthcare shares could be long term market beaters appeared first on Motley Fool Australia.

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3 June 2020
Top brokers name 3 ASX 200 shares to sell today
On Wednesday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three ASX 200 shares that have just been given sell ratings by brokers are listed below.

Here’s why these brokers are bearish on them:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

According to a note out of the Macquarie equities desk, its analysts have retained their underperform rating and $18.50 price target on this banking giant’s shares. Although the broker believes ANZ’s divestment of its New Zealand-based UDC Finance business was a positive, it isn’t enough for a change of rating. It continues with its bearish view of the bank and retains its underperform rating. The ANZ share price is trading at $19.10 this afternoon.

Cochlear Limited (ASX: COH)

Analysts at UBS have retained their sell rating but lifted the price target on this hearing solutions company’s shares to $160.50. According to the note, the broker has revised its earnings estimates higher to reflect its belief that Cochlear unit sales will recover a touch quicker than expected. Nevertheless, with its shares trading well ahead of its price target, the broker is holding firm with its sell rating for the time being. Cochlear’s shares are changing hands for $197.89 on Thursday.

Nufarm Limited (ASX: NUF)

Another note out of Macquarie reveals that its analysts have downgraded this agricultural chemical company’s shares to an underperform rating and cut the price target on them to $4.85. The broker was left underwhelmed by Nufarm’s recent trading update and has concerns over its prospects in the fourth quarter. Given the importance of this quarter to its overall result, this could mean a disappointing full year result in September. The Nufarm share price has fallen heavily today and is now trading at $4.79.

Those may be the shares to sell, but these are the shares that analysts have given buy ratings to…

NEW! 5 Cheap Stocks With Massive Upside Potential

Our experts at The Motley Fool have just released a FREE report detailing 5 shares you can buy now to take advantage of the much cheaper share prices on offer.

One is a diversified conglomerate trading over 30% off it’s all-time high, all while offering a fully franked dividend yield of over 3%…

Another is a former stock market darling that is one of Australia’s most popular and iconic businesses. Trading at a significant discount to its 52-week high, not only does this stock offer massive upside potential, but it also trades on an attractive fully franked dividend yield of almost 4%.

Plus, this free report highlights 3 more cheap bets that could position you to profit in 2020 and beyond.

Simply click here to scoop up your FREE copy and discover the names of all 5 cheap shares.

But you will have to hurry because the cheap share prices on offer today might not last for long.

YES! SEND ME THE FREE REPORT!

As of 2/6/2020

More reading
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 Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Top brokers name 3 ASX 200 shares to sell today appeared first on Motley Fool Australia.

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3 June 2020
ASX 200 hits 6,000 points: Westpac provide AUSTRAC update, Vocus reaffirms guidance
At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to record another strong gain. The benchmark index is currently up 1% to 6,000.9 points.

Here’s what has been happening:

ASX 200 hits 6,000 points.

The ASX 200 index has shaken off the recession news and stormed higher again on Thursday. So much so, the index has broken through the symbolic 6,000 points mark. This is the first time the ASX 200 has traded above this level in almost three months. The big four banks have played a key role in driving it through this level today. All four are trading higher at lunch.

Westpac AUSTRAC update.

The Westpac Banking Corp (ASX: WBC) share price is pushing higher today despite the release of an update on its Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) compliance issues. Australia’s oldest bank has been investigating its compliance issues and believes three primary factors led to the breaches. These include some areas of AML/CTF risk not being sufficiently understood within the bank.

Vocus reaffirms guidance.

The Vocus Group Ltd (ASX: VOC) share price is charging higher today after the release of a positive announcement. The specialist fibre and network solutions provider revealed that it has refinanced its debt and remains on course to achieve its guidance for FY 2020. Vocus expects its earnings before interest, tax, depreciation, and amortisation (EBITDA) to be in the range of $359 million to $369 million. This compares to the EBITDA of $360.1 million it posted in FY 2019. The core Vocus network services business is expected to deliver EBITDA growth of 10% this year.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Thursday has been the Unibail-Rodamco-Westfield (ASX: URW) share price with a 15% gain. Investors may believe the shopping centre operator’s shares have bottomed now. The worst performer has been the Nufarm Limited (ASX: NUF) share price with a decline of almost 11%. This morning analysts at Macquarie downgraded its shares to an underperform rating with a $4.85 price target.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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3 June 2020