Owning an investment property in the state of Victoria became far more expensive in 2024. Thanks to changes announced last year, landowners have faced a significant hike in land tax since 1 January.

According to reporting in The Age, even owners of second homes or investment properties worth between $50,000 and $100,000 will now have to pay a flat $500 annual land tax. For anyone owning a second home or investment property worth more than $1 million, the land tax hike is reportedly worth up to $1,675 in additional annual costs.

As such, many property investors may be deciding to sell down or out of their real estate portfolios, and move into ASX shares instead.

I can’t admit to owning any property in Victoria. But if I did and I was currently selling some land thanks to these tax hikes, here are the five ASX shares I’d consider buying instead. Property has historically delivered both income and capital growth, so that’s what I’d be seeking from my ASX shares as well.

5 ASX shares to buy for investors hit by land tax hikes

Starting off, my first choice would be Washington H. Soul Pattinson and Co Ltd (ASX: SOL). This ASX 200 investing house is a long-term favourite of mine, and a share that I would happily recommend to any investor, not just those affected by the land tax hikes.

Soul Patts runs a huge portfolio of different assets on behalf of its investors. These include other ASX shares, as well as property, private credit and venture capital investments.

This company has delivered significant capital growth over the past two decades, as well as a 23-year streak of annual dividend pay rises.

Next, I’d consider National Storage REIT (ASX: NSR). This real estate investment trust (REIT) allows investors to get exposure to property assets without the risk of any direct land tax hikes. National Storage owns a vast network of personal storage facilities around Australia. It is the largest single provider of such services in the country.

With low overhead costs and reasonably consistent demand, I think this is a great business to get a slice of. National Storage units are currently offering a distribution yield of around 4.7%.

MFF Capital Investments Ltd (ASX: MFF) is number three on our list of land tax hike replacements. This listed investment company (LIC) is another one of my favourite personal investments. It holds a portfolio of mostly US shares on behalf of its shareholders. These US shares are selected on their high quality and include names like American Express, Mastercard, Amazon and Alphabet.

Investors have enjoyed some pleasing returns in recent years, with MFF shares up more than 38% since March 2023. The company has been steadily increasing its dividend every year as well, with MFF shares today offering a fully-franked yield of 2.73%.

Chasing both growth and income

Wesfarmers Ltd (ASX: WES) is another stock investors who are selling up their properties to avoid those land tax hikes may want to take a look at. Wesfarmers is one of the most diversified blue chip shares on the ASX. It owns retail icons like Bunnings, Target, Kmart and OfficeWorks. But it also has its fingers in many other pies, including lithium, gas distribution, work wear and chemical and fertiliser production.

It has a long history of delivering both healthy capital growth and reliable dividend income to its shareholders. It also offers diversification that few other single ASX shares can match.

Finally, I think property investors who are fleeing land tax hikes can happily invest in an ASX index fund like the Vanguard Australian Shares Index ETF (ASX: VAS). This exchange-traded fund (ETF) gives investors exposure to the largest 30 companies on the ASX. That’s everything from Wesfarmers and Soul Patts to JB Hi-Fi Ltd (ASX: JBH) and AGL Energy Ltd (ASX: AGL).

An index fund like VAS can be expected to deliver a return that is in line with the average of the entire Australian share market. Investors have enjoyed an almost even split between capital growth and franked dividend income from this index fund over many years. What more could you want from an investment to replace your property?

The post Selling your investment property due to land tax hikes? 5 ASX shares I’d buy with the proceeds appeared first on The Motley Fool Australia.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. American Express is an advertising partner of The Ascent, a Motley Fool company. 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 Sebastian Bowen has positions in Alphabet, Amazon, American Express, Mastercard, Mff Capital Investments, Vanguard Australian Shares Index ETF, Wesfarmers and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Mastercard, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2025 $370 calls on Mastercard and short January 2025 $380 calls on Mastercard. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited and Wesfarmers. The Motley Fool Australia has recommended Alphabet, Amazon, Jb Hi-Fi, and Mastercard. 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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With the S&P/ASX 200 Index (ASX: XJO) rocketing more than 14% since the start of November, stock selection has now become critical.

After all, you don’t want to be buying an ASX stock after it has already become expensive. Every cent you overpay eats into your future profit.

So here’s my take on three ASX shares that I think still have plenty of room to impress:

Exposure to mining without buying mining stocks

The trouble with mining shares is their cyclicality and volatility.

Commodity prices can fluctuate wildly up and down, so the fortunes of the companies that produce minerals are unpredictable.

However, if you still want to be exposed to that sector, buying shares in a supplier might be a more reliable way to go.

RPMGlobal Holdings Ltd (ASX: RUL) provides technology and solutions to clients in the resources sector.

Over the past five years, even through COVID-19 and the inflation crisis, the RPMGlobal stock price has rocketed 313%.

And with both western and Chinese economies bound to improve in the coming years, I like the chances of this stock rising further.

Analysts at both Moelis Australia and Veritas Securities agree with me by rating RPMGlobal as a strong buy right now, according to CMC Invest.

The ASX shares that are never cheap are cheap right now

Camplify Holdings Ltd (ASX: CHL) might be very much a small cap at the moment, but its addressable market is huge.

The company operates a peer-to-peer platform that allows campervan owners to rent out their vehicles when not in use.

The startup, hailing from Newcastle in NSW, grew its revenue for the first half by a whopping 95.4%.

The market reacted negatively though, which the analysts at Morgans put down to “some seasonality” in a few metrics, such as future bookings and gross margins.

That team, plus Canaccord and Ord Minnett, are not the least bit worried about the future trajectory. All three are maintaining strong buy ratings for Camplify, as shown on CMC Invest.

This could mean that the current dip is a golden buying opportunity.

Bringing in revenue while developing future products

Telix Pharmaceuticals Ltd (ASX: TLX) continues to score goals in the tough industry of biotechnology and pharmaceutical development.

The shares are already up 11.8% so far this year, and 68% if you go back 12 months.

The great ace up its sleeve is that it already has one cancer product, Illucix, on commercial sale. This brings in revenue while it’s working on other cancer diagnosis and treatment solutions.

The company recently announced its plan to acquire Canadian business ARTMS inc.

“The acquisition is crucial for the supply of 89Z and the pending rollout of Zircaix for renal cancer imaging,” Bell Potter analysts said in a memo.

“Telix is validating multiple production locations for 89Zr in the US using the ARTMS core technology. The company also owns significant quantities of ultra-pure 89Y, being the raw material for production of 89Zr.”

The post 3 ASX shares I think are set to soar in 2024 appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo has positions in Camplify and Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended RPMGlobal and Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Camplify. The Motley Fool Australia has recommended Camplify, RPMGlobal, and Telix Pharmaceuticals. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Nvidia (NASDAQ: NVDA) won over Wall Street last year, illustrated by its more than 280% stock growth since March 2023. The company’s years of dominance in graphics processing units (GPUs) perfectly positioned it to profit significantly from a boom in artificial intelligence (AI) as demand for the chips skyrocketed. As a result, Nvidia’s quarterly revenue and free cash flow are up 207% and 430%, respectively, in the last 12 months.

The company’s meteoric rise has some analysts questioning whether the company has much more to offer investors in 2024. However, trends in the chip market indicate Nvidia will have little problem retaining its leading market share in AI GPUs, despite new offerings from Advanced Micro Devices and Intel.

Meanwhile, the AI market is nowhere near hitting its ceiling. It’s projected to expand at a compound annual growth rate of 37% until at least 2030. The sector’s potential indicates GPU demand is likely to continue rising for the foreseeable future, with Nvidia well-equipped to continue enjoying significant gains from AI.

Here’s why Nvidia remains an attractive buy in March.

Nvidia will likely retain its AI dominance despite rising competition

Nvidia’s success in the AI chip market has led to countless tech companies announcing ventures into the industry. Leading chipmakers AMD and Intel plan to begin shipping new GPUs soon in an attempt to challenge Nvidia’s market share. Meanwhile, companies new to the sector are also joining in, as Amazon and Microsoft announced new AI chips last year.

However, market trends suggest Nvidia’s supremacy will be challenging for competitors to overcome. The company has held an over 80% market share in desktop GPUs for years, despite AMD’s and Intel’s presence in the sector.

Intel only entered the industry last year, while AMD’s history in desktop GPUs spans decades. Still, AMD’s GPUs only account for about 10% of the market.

A similar situation has occurred in another area of the chip market. Intel was a king in central processing units (CPUs) for years, with an 82% market share at the start of 2017 when AMD landed on the scene with its Ryzen line of CPUs. AMD has managed to steal a significant share from Intel since then. However, Intel is still responsible for most of the CPU market; its share is above 60% and AMD’s is at 36%.

Nvidia’s estimated 80% to 95% market share in AI GPUs could falter slightly as competition heats up. However, history indicates the company will retain its overall lead and continue to see major gains from AI for years.

Projections show Nvidia’s stock should continue beating the S&P 500

Nvidia has stunned Wall Street over the last year, posting multiple quarters of record earnings. In the fourth quarter of 2024 (ended in January), the company’s revenue increased by 265% year over year to $22 billion. Meanwhile, operating income jumped 983% to nearly $14 billion. The monster growth was primarily from a 409% increase in data center revenue, reflecting increased chip sales.

While a spike in AI GPU sales is mainly responsible for Nvidia’s stellar financial growth, the chipmaker is also profiting from an improving PC market. Spikes in inflation prompted steep declines in PC sales, with shipments dipping 16% in 2022 and continuing to fall for most of 2023. However, recent reports indicate the market is finally showing signs of recovery.

According to Gartner, PC shipments popped 0.3% in Q4 2023, marking the first such increase in over a year. Market improvements have been reflected in Nvidia’s sales, with its PC-centered gaming segment reporting an 81% rise in revenue in Q3 2024 (which ended October 2023).

A leading role in AI and a recovering PC market suggests Nvidia has a strong outlook in the coming years. Earnings-per-share (EPS) estimates seem to support this.

Data by YCharts.

The above chart shows Nvidia’s earnings could hit $34 per share by fiscal 2026. Multiplying that figure by its forward price-to-earnings ratio of 38 yields a stock price of $1,292.

Considering the company’s current position, that projection would see Nvidia’s stock rise 40% over the next two years. The company may not replicate last year’s growth but would still beat the S&P 500‘s 22% growth since 2022.

As a result, Nvidia still has much to offer new investors and is an exciting buy right now. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Is Nvidia stock a buy? appeared first on The Motley Fool Australia.

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Dani Cook has no position in any of the stocks mentioned. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Advanced Micro Devices, Amazon, Microsoft, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Gartner and Intel and has recommended the following options: long January 2023 $57.50 calls on Intel, long January 2025 $45 calls on Intel, long January 2026 $395 calls on Microsoft, short January 2026 $405 calls on Microsoft, and short May 2024 $47 calls on Intel. The Motley Fool Australia has recommended Advanced Micro Devices, Amazon, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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It’s a bit of a misconception that you need a massive amount of money to start investing in ASX tech shares.

For one, the share prices on the ASX are not exorbitant like in the US. 

Take online travel booking site Booking Holdings Inc (NASDAQ: BKNG) as an example. Those shares are each going for an insane US$3,500 at the moment, which is more than $5,000.

It’s rare to see any ASX tech shares trading for more than a couple of hundred dollars, let alone thousands.

So if you have as little as $3,000, you can get started on your journey.

Here are three ASX technology stocks you could invest $1,000 into and be confident it’ll be worth significantly more in five years’ time:

‘Scaling margins and earnings rapidly’

Californian outfit Life360 Inc (ASX: 360) makes an eponymous smartphone app that’s now ranked 30th in the iPhone app store, and 5th in the social networking category.

The family security software is proving to be popular among Americans who want to track where their children are. The app can similarly be used to keep elderly folks safe.

Even though the share price has multiplied 5 times since its June 2022 low, experts are lining up to still express their bullishness for Life360.

In fact, seven out of eight analysts currently surveyed on CMC Invest believe the ASX tech stock is a strong buy.

“The company is now scaling margins and earnings rapidly off a low base, with attractive unit economics and potential structural profitability tailwinds on the horizon from a reduction in effective app store fees,” said Goldman Sachs Group Inc (NYSE: GS) analysts earlier this month.

New Zealand hero taking on the world

In recent years New Zealand software maker Xero Ltd (ASX: XRO) has been through a similar journey to Life360.

After interest rates rose steeply over 2022 and 2023, it was forced to look at itself in the mirror and change from its profligate ways.

The company cut expenses, which included staff cuts, and dialled down its ambitious expansion targets. Cash flow and profits were elevated in priority.

The reforms have worked in charming the market, with a 57% increase in share price over the past 12 months.

Many experts are betting the upward trend will continue for a while yet, with 10 out of 14 analysts surveyed on CMC Invest still rating Xero as a buy.

ASX tech shares for a business boosting earnings by 785%!

Almost exactly one year ago, Megaport Ltd (ASX: MP1) was in crisis after its chief executive exited without warning.

Maybe insiders knew it was coming but it shocked the market at the time.

Twelve months later, the Megaport share price has more than tripled and all its half-year numbers were impressive:

• EBITDA up 785%
• Revenue up 35%
• Record annual recurring revenue (ARR) 29%
• Gross profit up 43%

With all the data needing to be moved around for e-commerce, cloud computing and artificial intelligence, professional investors are excited for the future of the virtual networking provider.

Ten out of 15 analysts covering Megaport rate the ASX tech stock as a buy, according to CMC Invest.

The post Got $3,000? 3 ASX tech shares to buy and hold for the long term appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo has positions in Life360 and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Booking Holdings, Goldman Sachs Group, Life360, Megaport, and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Booking Holdings 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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If you’re on the lookout for some big gains and a quarterly pay check, then Rural Funds Group (ASX: RFF) shares could be worth a closer look.

That’s the view of analysts at Bell Potter, which think the ASX 300 stock is undervalued at current levels.

What is the broker saying about this ASX 300 stock?

Firstly, if you’re not familiar with Rural Funds, it owns a diversified portfolio of Australian agricultural assets in five core sectors which are predominantly leased to corporate agricultural operators.

It seeks to generate earnings and income growth through productivity improvements and conversion of assets to higher and better use. The company has a distribution growth target of 4% per annum.

Bell Potter thinks that the ASX 300 stock is trading at a very attractive price for investors. It said:

The ~30% discount to market NAV appears excessive when we consider the material improvement in counterparty profitability indicators in recent months (with cattle, almond and macadamia nut prices all rallying off the lows) and that we are likely to see asset sales at or around the market value of the assets.

In light of this, at the end of last month it reaffirmed its buy rating with a $2.40 price target. This implies potential upside of almost 14% for investors over the next 12 months.

To put that into context, a $10,000 investment could turn into approximately $11,400 if Bell Potter is on the money with its recommendations.

But the returns shouldn’t stop there. Rural Funds historically rewards its shareholders with quarterly dividends.

Bell Potter expects this trend to continue and is forecasting total dividends per share of 11.7 cents in FY 2024, 11.7 cents again in FY 2025, and then 12.2 cents in FY 2026. Based on its current share price of $2.11, this equates to dividend yields of 5.5%, 5.5%, and 5.8%, respectively.

If this proves accurate, it would mean dividends of approximately $550 from a $10,000 investment in this ASX 300 stock.

The post Buy this ASX 300 stock for a 14% gain and 5.5% dividend yield appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Rural Funds 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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As a human who follows the news, it wouldn’t have escaped your attention that artificial intelligence (AI) has been making headlines for the past 16 months.

The difficulty is that on the ASX there aren’t that many technology shares that are directly involved in making AI.

However, the great news is that there are plenty that are involved in the supply chain.

And many experts argue that it’s far better to invest in companies that produce the “picks and shovels” anyway, because it means you don’t have to choose a winner among the AI producers.

Here are two that I can think of:

The computers producing AI have to live somewhere

NextDC Ltd (ASX: NXT) is an Australian data centre operator founded by Bevan Slattery, who is also the entrepreneur behind Megaport Ltd (ASX: MP1) and Superloop Ltd (ASX: SLC).

Artificial intelligence requires a tremendous amount of computing capacity to crunch all the necessary calculations.

And all that computing power has to be housed somewhere.

That’s where NextDC comes in, and likely explains the share price doubling since November 2022, when ChatGPT was released to the public.

Despite the steep rise in the valuation, professional investors are judging that data centre demand will skyrocket in the coming years.

This conviction is shown on broking platform CMC Invest, which shows a whopping 15 out of 17 analysts recommending NextDC as a buy.

And all those data centres have to live somewhere

Even higher up in the supply chain is industrial real estate developer Goodman Group (ASX: GMG).

While it has become widely successful on the back of renting out warehouses for online shopping, the potential of data centres has not escaped the business.

Goodman has publicly acknowledged that data centre space is a focus area for its future growth.

Just last month, chief executive Greg Goodman recognised the coming demand from AI.

“As the digital economy expands with the growth of artificial intelligence and increased computing requirements, so does our ability to provide the essential infrastructure needed to support its progress,” he said.

“Our growth in data centre capacity underscores our ability to deliver digital infrastructure, where we’re securing power on our sites and developing data centres in cities with high demand.”

Like NextDC, the Goodman share price has also climbed rapidly over the past 16 months, to the tune of a 91% gain since the start of October 2022.

The post 2 ASX shares I want to buy for the artificial intelligence (AI) revolution appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group and Megaport. The Motley Fool Australia has recommended Goodman Group 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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The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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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 positions in and has recommended Idp Education. The Motley Fool Australia has recommended Elders, Idp Education, Nine Entertainment, and Premier Investments. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Nvidia (NASDAQ: NVDA) stock looks unstoppable. Amid the company’s dominance in artificial intelligence (AI)-ready chips and the insatiable demand for the technology, its stock has risen by close to 300% over the last 12 months.

With the stock approaching $1,000 per share, investors may wonder whether a stock split is imminent. Despite the fact that such a move will not directly influence Nvidia’s valuation, investors should expect one soon. Here’s why.

Nvidia and stock splits

The history of Nvidia stock is arguably the most compelling reason for expecting a near-term split. The company has split its stock five times since 2000, one of which has occurred since AI and data centers renewed investor interest in GPUs.

That previous split occurred on July 19, 2021, when Nvidia carried out a 4-for-1 stock split. Interestingly, it closed at a pre-split price of around $744 per share that day, a level lower than today’s current price.

Still, investors should remember that these gains came quickly, as Nvidia stock is up about 85% this year and nearly 30% over the last month alone, indicating that a need for a split could have caught the company’s board off guard.

The big question surrounding the split

Moreover, the most significant question surrounding a split is likely where the company will set the split ratio. The most recent 4-for-1 split was the largest ratio in the company’s history, with the company having approved three 2-for-1 splits and one 3-for-2 split in the 2000s.

However, as mentioned before, the more recent growth has probably exceeded expectations. While future growth may not match the 126% revenue increase in fiscal 2024 (ended Jan. 31), analysts forecast 81% revenue growth in fiscal 2025 and 22% the next fiscal year, indicating the massive profit increases should continue for the foreseeable future.

That could possibly mean the stock price is not done rising. Conversely, slowing growth could soon dampen enthusiasm for the stock, and the company’s board will have to consider the massive drops in the stock price in past years. Hence, the company has to be ready for any potential price movement when it decides the split ratio.

NVDA data by YCharts

Another possible consideration

Investors may want also to consider another possible factor — inclusion as one of the 30 stocks making up the Dow Jones Industrial Average.

The S&P Dow Jones Indices, operated by S&P Global, has not telegraphed any intention to add Nvidia to the Dow 30. Also, the index already includes two semiconductor stocks, Apple and Intel.

However, Intel has struggled in recent years, increasing the chances of its removal. Also, AI’s influence over the economy could lead to more tech stocks in the index, and Nvidia’s $2.2 trillion market cap makes it a likely choice.

Furthermore, the Dow 30 is a price-weighted index. Since the nominal share price determines a stock’s weighting on the Dow, companies have often initiated stock splits to reduce their influence over the index. Should Nvidia seek a place on the Dow 30, it may alter the split ratio to increase its chances of inclusion.

Making sense of a potential stock split

Given the company’s history of stock splits, investors should expect such a move sooner rather than later. Also, since the previous split occurred less than three years ago at a lower price, the split ratio is likely the most significant question surrounding such a move.

Indeed, Nvidia’s board will need to consider the stock’s price history in deciding the ratio, both in a positive and negative sense. Also, assuming Nvidia seeks to become a Dow 30 stock, it will have to become more sensitive to its nominal share price.

Ultimately, the stock split changes nothing for Nvidia on the surface. However, given the company’s history, shareholders should anticipate a split and, possibly, increased interest in the stock from some unexpected parties. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Is Nvidia headed for a stock split? appeared first on The Motley Fool Australia.

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Will Healy has positions in Intel. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Intel and has recommended the following options: long January 2023 $57.50 calls on Intel, long January 2025 $45 calls on Intel, and short May 2024 $47 calls on Intel. The Motley Fool Australia has recommended Apple and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Accent Group Ltd (ASX: AX1)

According to a note out of Morgan Stanley, its analysts have upgraded this footwear retailer’s shares to an overweight rating with an improved price target of $2.45. The broker likes the company due to its belief that it is well-positioned to benefit when challenging macroeconomic conditions ease. This is due to its target demographic being younger consumers, which it notes have been impacted the most during the cost of living crisis. The broker also sees plenty of potential in the store rollouts of some of its newer brands. The Accent share price is trading at $2.05 on Wednesday.

Telstra Group Ltd (ASX: TLS)

A note out of Bell Potter reveals that its analysts have upgraded this telco giant’s shares to a buy rating with a $4.25 price target. The broker made the move on valuation grounds following a period of underperformance. It highlights that its shares are looking reasonable value trading on an FY25 PE ratio of <20x. This is lower than the average multiples of other comparable companies. The Telstra share price is fetching $3.77 today.

Treasury Wine Estates Ltd (ASX: TWE)

Analysts at Morgan Stanley have also retained their overweight rating and $13.75 price target on this wine giant’s shares. This follows news that the Chinese government has made an interim draft determination to remove Australian wine import tariffs. The broker believes that the company could be shipping wine to China within two months. Though, the impact on FY 2024’s earnings would be minimal due to the timing of the change. The Treasury Wine share price is trading at $12.48 this afternoon.

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

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More reading

• Why the Accent share price has jumped 5% and more gains are predicted
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• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. 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 positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Accent Group and Treasury Wine Estates. 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’s been a fairly pleasant hump day for the S&P/ASX 200 Index (ASX: XJO) and most ASX 200 shares this Wednesday thus far. At the time of writing, the ASX 200 has risen by 0.22% and is back above 7,725 points. But let’s talk about the Macquarie Group Ltd (ASX: MQG) share price.

Macquarie shares have had an even better Wednesday than the broader market. This diversified financial stock is currently up a rosy 1.12% at a flat $200 at present. Earlier this afternoon, Macquarie even rose as high as $200.05 – a new 52-week high for the company.

This represents the latest chapter in what has been a remarkable recovery for the Macquarie share price. It was only as recently as mid-November that Macquarie shares were touching new 52-week lows of around $155 a share. That means that investors have enjoyed a pleasing 26% or so gain over the past three months.

Why is Macquarie stock at a new 52-week high?

This is a rather strange 52-week high to cover, as there has been no obvious catalysts for this company’s new high watermark. In fact, the last piece of major news out of Macquarie resulted in investors selling off the company.

Exactly one month ago, Macquarie released an operational briefing covering the third quarter of the 2024 financial year. The company warned that its net profits after tax were “substantially down” compared to the same period over the previous year. Saying that, Macquarie did note that the previous quarter in question was an “exceptional” one.

Even so, investors punished the Macquarie share price when this update was released, as we documented at the time.

Judging by today’s new 52-week high, those same investors seem to be letting bygones be bygones. It’s possible that sentiment over Macquarie shares is being pushed along by broader market sentiment. The past few weeks have seen the ASX 200 clock a series of new record highs, after all.

Perhaps Macquarie’s ongoing share buybacks are helping investors with their newly found optimism too.

Macquarie share price snapshot

Of course, today’s new 52-week high is not a new all-time high for the Macquarie share price. Macquarie’s last record high came way back in early 2022 when the company got above $211 a share for the first time ever. It hasn’t been back there since, but given the stock’s recent runup, perhaps investors don’t have too long to wait.

At the current Macquarie share price, this financial stock has a market capitalisation of $76.7 billion, with a dividend yield of 3.53%.

The post Big ASX news: Macquarie share price hits new 52-week high appeared first on The Motley Fool Australia.

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More reading

• How much passive income will I get from shares vs. property?
• Should you wait for a dip to buy ASX 200 bank shares?
• Here’s how the ASX 200 market sectors stacked up this week
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• It’s not too late to buy these 2 rocketing ASX 200 stocks

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 positions in and has recommended 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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