There are a lot of options on the ASX for income investors to choose from.

But which ASX income stocks could be top options this week?

Two that analysts are feeling bullish on are listed below. Here’s what sort of dividend yields you can expect from them:

Dexus Convenience Retail REIT (ASX: DXC)

The first ASX income stock that analysts think could be a buy this week is Dexus Convenience Retail REIT. It is a property company with a focus on service stations and convenience retail assets located across Australia.

Bell Potter likes the company due partly to its attractive valuation. It commented:

[W]e see clear price discovery for DXC where there have been 53 petrol station transactions in CY23, proving up book value. Notwithstanding, DXC trades at a 27% discount to NTA and screens value to us.

In addition, the broker highlights the company’s generous forecast dividend yields. It is expecting dividends per share of 20.7 cents in FY 2024 and 21.7 cents in FY 2025. Based on its current share price of $2.76, this equates to yields of 7.5% and 7.85%, respectively.

Bell Potter has a buy rating and $3.00 price target on its shares.

Super Retail Group Ltd (ASX: SUL)

Another ASX income stock that has been rated as a buy is Super Retail. It is the name behind popular retail brands BCF, Macpac, Rebel, and Supercheap Auto.

Goldman Sachs is very positive on the retailer and has buy rating and $17.80 price target on its shares.

The broker was impressed with Super Retail’s performance in the first half of FY 2024, noting that “the 1H24 result was high quality and the strategic growth plan is intact.” In addition, it likes the company due to its resilient brands. It adds:

We believe SUL will display resilience in a softer economic environment that is built upon its competitive advantage of high loyalty (~11.0m active members accounting for >75% of sales) and this will be further bolstered as the company launches the Rebel loyalty program and continues to build personalisation capabilities.

Goldman expects this to underpin fully franked dividends per share of 67 cents in FY 2024 and then 73 cents in FY 2025. Based on the latest Super Retail share price of $15.40, this will mean good yields of 4.35% and 4.75%, respectively.

The post Analysts say these excellent ASX income shares are buys appeared first on The Motley Fool Australia.

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More reading

• Popular ASX All Ords shares with ex-dividend dates next week
• Why Goldman Sachs expects market-beating returns from Super Retail shares
• Are these ASX dividend stocks quality buys this week?
• How about buying these ASX dividend shares?
• Guess which ASX 200 retail stock is tipped to deliver 19% upside and a 6.5% yield in 2024

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. 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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On Friday, the S&P/ASX 200 Index (ASX: XJO) ended the week in the red. The benchmark index edged 0.15% lower to 7,770.6 points.

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

ASX 200 expected to rise

The Australian share market looks set to edge higher on Monday despite a relatively poor finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points higher. On Friday on Wall Street, the Dow Jones was down 0.8% and the S&P 500 fell 0.15%, but the Nasdaq rose 0.15%.

Oil prices fall

ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a soft start to the week after oil prices fell on Friday night. According to Bloomberg, the WTI crude oil price was down 0.55% to US$80.63 a barrel and the Brent crude oil price was down 0.4% to US$85.43 a barrel. This was driven by optimism over ceasefire talks in Gaza.

Star CEO exits

The Star Entertainment Group Ltd (ASX: SGR) share price will be in focus today after the embattled casino and resorts operator announced the immediate exit of its CEO, Robbie Cooke. The board “formed the view that the continuation of Mr Cooke’s leadership of the Group was not going to be conducive to the NSW Independent Casino Commission (NICC) determining to find The Star capable of becoming suitable to hold a casino licence in NSW.” David Foster will take on additional duties as Executive Chair while a search for a permanent CEO is conducted.

Gold price falls

ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price dropped on Friday. According to CNBC, the spot gold price was down 0.8% to US$2,166.5 an ounce. The precious metal pulled back from its record high after the US dollar strengthened.

Shares going ex-dividend

A couple of ASX 200 shares are going ex-dividend this morning and could trade lower. This includes property company Cedar Woods Properties Limited (ASX: CWP) and diversified contract services provider NRW Holdings Limited (ASX: NWH). They will be paying eligible shareholders 8 cents per share and 6.5 cents per share dividends on 26 April and 11 April, respectively.

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

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More reading

• Buy Westpac and this ASX dividend giant
• Here’s how the ASX 200 market sectors stacked up last week
• Here are the top 10 ASX 200 shares today
• ASX energy shares losing charge amid fresh warnings of gas supply shortfalls
• Popular ASX All Ords shares with ex-dividend dates next week

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Reserve Bank interest rate decision might be behind us, but there are still plenty of developments coming this week that are worth watching for the sake of your ASX shares.

eToro market analyst Josh Gilbert has picked out the three most important ones for our convenience:

1. Australia monthly inflation

Wednesday will see the latest monthly consumer price index numbers released, which will be crucial in helping the RBA decide what to do with interest rates.

According to Gilbert, it’s a given now that a rate cut will be coming this year.

“The market now sees an 80% chance the RBA will cut rates in August. However, the higher-for-longer take from the board can’t be ignored by investors.”

Inflation is the most important metric for all central banks around the world now, not just the Reserve Bank.

“Investors are looking at the rotation to come as we get nearer rate cuts, moving away from the US dollar and tech into cheaper and more cyclical assets.”

2. Australia consumer confidence

Last month the consumer confidence index headed upwards to 86, according to Gilbert, which is the highest seen in two years.

“It’s reasonable to anticipate a similar trend in March, considering the monthly CPI for January saw consumer prices rise 3.4%, going against economists’ expectations of a slight increase from December.”

The resilience and confidence shown by Australian consumers could be working against them though.

“The market is pushing back on the number of rate cuts this year,” said Gilbert.

“In early February, the market was expecting more than two cuts, which has since been pushed to under two cuts.”

3. BYD financial report

The world’s biggest selling electric car maker, BYD (SHE: 002594), is reporting its latest results on Tuesday.

“Investors are eagerly anticipating the automotive company’s earnings, which BYD expects to have risen by up to 85.6% year-on-year for 2023,” said Gilbert.

“However, the company’s preliminary income figures fell short of market expectations, which could create an interesting dynamic around the earnings announcement this week.”

Gilbert pointed out that Australians may have noticed many more BYD cars driving around this year.

“BYD is set to deliver more than 3 million cars to Australia for the full year 2023.

“Whether BYD can leverage its growth potential to carve out a larger market share remains to be seen. The upcoming earnings report will likely shed more light on this subject, providing key insights into BYD’s strategic direction and financial health.”

The post 3 things ASX investors should watch this week appeared first on The Motley Fool Australia.

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More reading

• Invest $500 in these outstanding ASX ETFs
• 3 of the best ASX growth shares to buy now
• Buy Westpac and this ASX dividend giant
• Top brokers name 3 ASX shares to buy next week
• Here’s how the ASX 200 market sectors stacked up last week

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 Scott Phillips.

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If you’re just starting your investment journey and have $500 to invest, but aren’t sure which shares to buy, then you could consider exchange-traded funds (ETFs).

ETFs allow you to own a portion of a large and diverse number of shares through a single investment.

This means that instead of dedicating time to researching which shares to buy, you can just buy a collection of them with a single click of a button.

Then you can sit back and let compounding work its magic with your money.

But which ASX ETFs could be top options for a $500 investment? Two that are worth considering are listed below:

VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

Warren Buffett is one of the world’s most well-known investors.

The Oracle of Omaha has earned his reputation by delivering market beating returns over many decades.

The key to his success has been his preference of making long-term investments in companies with attractive valuations, strong business models, and competitive advantages.

With that in mind, if you would like to replicate this you could look at the VanEck Vectors Morningstar Wide Moat ETF. This ASX ETF is focused on buying the type of companies that you would expect to find in Buffett’s portfolio.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

Another ASX ETF for investors to look at for a $500 investment is the Vanguard MSCI Index International Shares ETF.

This ETF is very popular with Aussie investors and it isn’t hard to see why.

Not only does it provide unparalleled diversification for a portfolio, but it gives investors access to 1,000+ of the world’s biggest and best companies. Among the household names that you will be investing in with the ETF are global behemoths such as Amazon, Apple, Nestle, and Visa.

The post Invest $500 in these outstanding ASX ETFs appeared first on The Motley Fool Australia.

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• Here’s how the ASX 200 market sectors stacked up last week
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• Here are the next distribution dates for your Vanguard ETFs
• How I’d invest my first $1,000 in ASX shares in 2024
• 4 top ASX exchange-traded funds smashing record highs on Wednesday

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, Apple, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nestlé. The Motley Fool Australia has recommended Amazon, Apple, VanEck Morningstar Wide Moat ETF, and Vanguard Msci Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The great news for Aussie growth investors is that there are plenty of quality options to choose from on the local share market.

But which ASX growth shares could be best buys next week?

Let’s take a look at three growth shares that brokers rate very highly:

IDP Education Ltd (ASX: IEL)

This language testing and student placement company’s shares could be an ASX growth share to buy now.

That’s the view of analysts at Goldman Sachs, which believe the company is well-placed for long-term growth thanks to structural tailwinds and its dominant market position.

The broker recently responded to its half-year results by retaining its buy rating with a $26.60 price target. This would mean upside of almost 44% for investors if Goldman is on the money with its recommendation.

Megaport Ltd (ASX: MP1)

Analysts at Macquarie think this leading global provider of elastic interconnection services could be an ASX growth share to buy.

The broker appears to believe the stars are now aligning for the company and that it is destined to deliver explosive earnings growth over the coming years.

In response to its half-year results last month, Macquarie retained its outperform rating on Megaport’s shares with an improved price target of $18.00. This suggests potential upside of 25% for investors.

Xero Limited (ASX: XRO)

A final ASX growth share that has been named as a buy is Xero. It is a cloud-based accounting and business services platform provider to small businesses.

Although its shares have been on fire so far this year, the team at Citi doesn’t believe it is too late to invest.

In fact, the broker sees potential for market-beating returns from its shares from current levels. It has a buy rating and $159.00 price target on them. This implies potential upside of 17% for investors from current levels.

The post 3 of the best ASX growth shares to buy now appeared first on The Motley Fool Australia.

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More reading

• New to investing? I’d invest my first $1,000 in ASX shares today!
• These are the 10 most shorted ASX shares
• 5 oversold ASX shares to buy in March 2024
• Got $3,000? 3 ASX tech shares to buy and hold for the long term
• Here are the top 10 ASX 200 shares today

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Idp Education, Macquarie Group, Megaport, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. The Motley Fool Australia has recommended Idp Education and Megaport. 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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Investors that are on the lookout for big dividends might want to take a look at the ASX dividend giants listed below.

Both are among the biggest names on the Australian share market and have been labelled as buys and tipped to offer attractive dividend yields.

Here’s what income investors can expect to receive from them:

Westpac Banking Corp (ASX: WBC)

While almost all brokers think the big four banks are overvalued now following a strong run, there’s still one analyst that sees room for Westpac’s shares to climb higher.

A recent note out of Ord Minnett reveals that its analysts have an accumulate rating and $28.00 price target on the banking giant’s shares. This suggests potential upside of 6.5% for investors from current levels.

In addition, the broker is forecasting fully franked dividends of $1.45 per share in FY 2024 and $1.50 per share in FY 2025. Based on the current Westpac share price of $26.47, this will mean yields of 5.5% and 5.65%, respectively.

Woodside Energy Group Ltd (ASX: WDS)

Another ASX dividend giant that could be a buy right now is energy producer Woodside.

A recent note out of Morgans reveals that its analysts have an add rating and $34.20 price target on its shares. If they were to rise to this level, it would mean a very attractive gain of 15% for investors that buy in at current levels.

Another positive is that the broker is forecasting some attractive dividend yields in the near term. It is expecting the energy producer to be in a position to pay fully franked dividends of $1.36 per share in FY 2024 and $1.12 per share in FY 2025. Based on the current Woodside share price of $29.73, this equates to 4.6% and 3.8% dividend yields, respectively.

The post Buy Westpac and this ASX dividend giant appeared first on The Motley Fool Australia.

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• How much dividend income would I get from a $20k investment in Westpac shares?
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• I’d spend $5k on these ASX 200 shares today to target a $13,080 passive income
• $2.1 million! Who are the highest paid ASX 200 directors?
• 4 ‘overheated’ ASX 200 shares to stay away from

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation and Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It has been another busy week for Australia’s top brokers. This has led to the release of a number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Boss Energy Ltd (ASX: BOE)

According to a note out of Macquarie, its analysts have retained their outperform rating and $6.00 price target on this uranium miner’s shares. The broker has been running the rule over the company’s first half update and drilling results from the Alta Mesa Project. It was pleased with both, noting that its results smashed expectations and that its drilling update potentially points to better than expected resource estimates. The Boss Energy share price ended the week at $4.92.

Webjet Ltd (ASX: WEB)

A note out of Citi reveals that its analysts have retained their buy rating on this online travel agent’s shares with an improved price target of $9.90. Citi was pleased with the company’s investor update presentation relating to its WebBeds business. It highlights that management plans to grow its total transaction value for the business to $10 billion by 2030. This will be double its FY 2025 target of $5 billion. The Webjet share price was fetching $8.74 on Friday.

Woolworths Group Ltd (ASX: WOW)

Analysts at Goldman Sachs have retained their conviction buy rating and $40.40 price target on this supermarket giant’s shares. According to the note, the broker believes that recent weakness due to inquiries into price gouging and anti-competitive behaviour claims has been an overreaction. It highlights that a similar inquiry in 2008 by the ACCC concluded that the supermarkets industry was “workably competitive.” In addition, it recalls that the recommended industry changes did not result in a material impact to its earnings. The Woolworths share price ended last week at $32.32.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

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• Top ASX shares to buy instead of a term deposit in March 2024
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• ‘We have reached a bottom’: 5 ASX uranium shares leaping higher this week
• Why Arafura, Pentanet, Sigma, and Webjet shares are falling today

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. 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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ASX materials shares led the ASX 200 market sectors last week, with a 2.35% gain over the five trading days.

The S&P/ASX 200 Index (ASX: XJO) rose 1.6% over the week to finish at 7,770.6 points on Friday.

Most of the week’s gains for the benchmark index came on Thursday after the United States Federal Reserve meeting and the decision to leave interest rates on hold.

But what got ASX investors really excited was Fed chair Jerome Powell saying it was likely the bank would cut rates “at some point this year”.

Eight of the 11 market sectors finished the week in the green.

Let’s review.

Materials shares led the ASX sectors last week

The biggest materials stocks by market capitalisation are, of course, the big three ASX 200 miners.

Last week, Fortescue Ltd (ASX: FMG) shares led the pack, rising 4.5% to $24.64 over the five trading days. Mineral Resources Ltd (ASX: MIN) shares matched it, also up 4.5% to $69.15 apiece.

Rio Tinto Ltd (ASX: RIO) shares rose 2.82% over the week to finish at $120.56 per share on Friday.

And the ‘Big Australian’, BHP Group Ltd (ASX: BHP) rose 2.77% to $43.79 per share.

The big miners were helped by a sharply rebounding iron ore price this week. The price leapt from a nine-month low of US$102.5 per tonne on 15 March to US$111.50 per tonne on Friday.

The bump followed stronger-than-expected industrial production data out of China, which eased investors’ broader economic concerns.

Also last week, gold traded at record highs above $US$2,200 per ounce due to investors’ confidence that major central banks will cut interest rates soon.

This buoyed local ASX 200 gold stocks including Newmont Corporation CDI (ASX: NEM) shares, up 2.95% over the week to $52.83 on Friday, and Evolution Mining Ltd (ASX: EVN) shares, up 2.56% to $3.40.

A bunch of ASX ETFs predominantly representing international shares hit new 52-week highs last week.

They included VanEck Morningstar Wide Moat ETF (ASX: MOAT) shares, which reached $129.78, and Global X Robo Global Robotics & Automation ETF (ASX: ROBO), which hit $78.60 apiece.

ASX 200 market sector snapshot

Here’s how the 11 market sectors stacked up last week, according to CommSec data.

Over the five days:

S&P/ASX 200 market sector	Change last week
Materials (ASX: XMJ)	2.35%
A-REIT (ASX: XPJ)	1.88%
Financials (ASX: XFJ)	1.44%
Industrials (ASX: XNJ)	1.36%
Energy (ASX: XEJ)	1.35%
Healthcare (ASX: XHJ)	0.57%
Information Technology (ASX: XIJ)	0.54%
Consumer Discretionary (ASX: XDJ)	0.41%
Consumer Staples (ASX: XSJ)	(0.51%)
Utilities (ASX: XUJ)	(0.33%)
Communication (ASX: XTJ)	(0.12%)

The post Here’s how the ASX 200 market sectors stacked up last week appeared first on The Motley Fool Australia.

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• Why the BHP share price crushed the benchmark this week
• Here is the profit forecast to 2026 for BHP shares
• 12 ASX ETFs breaking the mould to hit 52-week highs today
• Are dividends your thing? Then you’ll love these 2 high-yield ASX shares
• Brokers name 3 ASX shares to buy now

Motley Fool contributor Bronwyn Allen has positions in BHP Group. 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 VanEck Morningstar Wide Moat ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ANZ Group Holdings Ltd (ASX: ANZ) shares and the rest of the big four banks are popular with income investors.

And it isn’t hard to see why.

The big four banks are among the biggest dividend payers on the Australian share market.

In fact, in FY 2023, ANZ paid out a total of $4,559 million in dividends to its 531,000 shareholders.

Will this trend continue in the future? Let’s take a look at what analysts are forecasting for the ANZ dividend through to FY 2026.

ANZ dividend forecast

According to a note out of Goldman Sachs, its analysts are expecting the bank to pay a 75% franked $1.62 per share dividend this year.

While this is down from $1.75 per share in FY 2023, that’s because the bank declared an additional one-off unfranked dividend of 13 cents per share with its result to make up for a lack of franking credits.

At the time, the ANZ board explained:

The proposed 2023 Final Dividend is 94cps, partially franked at 56%. This comprises an 81cps dividend partially franked at 65%, and an additional one-off unfranked dividend of 13cps. The level of franking reflects the geographically diverse nature of our business, as well as the timing of the proposed Suncorp Bank transaction. The Board recognised that lower franking may not have been anticipated by some shareholders. In recognition of this, and given our strong performance, the Board agreed that the one-off unfranked dividend was appropriate.

So, that’s a $1.62 per share dividend in FY 2024. Based on the current ANZ share price of $29.04, this will mean a very attractive 5.6% dividend yield.

What about FY 2025 and FY 2026?

If you like consistency, then you may like ANZ shares.

That’s because Goldman Sachs is expecting another 75% franked $1.62 per share dividend in FY 2025, which will mean another 5.6% dividend yield.

And then once again in FY 2026, the broker is forecasting a third 75% franked $1.62 per share dividend in a row. This will mean yet another 5.6% dividend yield for income investors.

The post Here’s the ANZ dividend forecast through to 2026 appeared first on The Motley Fool Australia.

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More reading

• 3 fantastic high-yield ASX dividend shares to buy next week
• 4 ‘overheated’ ASX 200 shares to stay away from
• If I’d put $5,000 in ANZ shares at the start of 2024, here’s what I’d have now
• How I’d invest $20k to target $1,400 a year from ASX dividend shares
• How about buying these ASX dividend shares?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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After closing flat on Monday, the BHP Group Ltd (ASX: BHP) share price charged higher over the following three trading days, before giving back some of those gains on Friday.

All told this saw shares in the S&P/ASX 200 Index (ASX: XJO) iron ore miner finish the week up 2.8%, smashing the 1.6% gains posted by the benchmark index.

Rival iron ore miners Rio Tinto Ltd (ASX: RIO) and Fortescue Metals Group Ltd (ASX: FMG) also handily outpaced the ASX 200.

Rio Tinto shares closed the week up 2.8%. Fortescue shares led the pack, gaining 4.5% since the opening bell on Monday.

Here’s what sent the BHP share price charging higher.

What boosted the BHP share price?

The biggest tailwind helping the ASX 200 miners outperform over the week was the rebounding iron ore price.

On Friday 15 March, the industrial metal dipped below US$100 per tonne. At market open on Friday 22 March, that same tonne was trading for US$109.15.

The steel-making metal, along with the BHP share price, surged over the week following some promising economic data out of China, Australia’s top export market.

While China’s steel-hungry property markets remain weak, industrial production in January and February increased 7% year on year. That far exceeded consensus estimates of a 5% increase.

On the back of that data, Australia and New Zealand Banking Group Ltd (ASX: ANZ) analysts Daniel Hynes and Soni Kumari forecast that iron ore prices have bottomed for 2024.

“Iron ore prices may be near a floor amid a reset in expectations around [China’s] demand,” they said. “Weak consumption from the property sector is being countered by robust demand from other sectors.”

Those other steel-hungry sectors include infrastructure and renewables investments, social housing, and the nation’s massive car manufacturing industry.

Then there’s copper, BHP’s second biggest revenue earner after iron ore.

The red metal gained 1% over the week gone by, trading for US$8,950.50 at market open on Friday.

Now what?

Despite the strong weekly performance sending BHP back to $43.79 a share, a number of analysts remain bullish on the outlook for the ASX 200 iron ore miner.

Earlier in March, Citi upgraded its rating for BHP stock to a buy with a $46 target for the BHP share price.

That represents a potential 5% upside from Friday’s closing price.

The post Why the BHP share price crushed the benchmark this week appeared first on The Motley Fool Australia.

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More reading

• Here is the profit forecast to 2026 for BHP shares
• Is the worst of the selling now over for ASX iron ore shares?
• How much could $10,000 invested in BHP shares be worth next year?
• How I’d invest $20k to target $1,400 a year from ASX dividend shares
• Why are ASX 200 mining shares smashing the benchmark on Wednesday?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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