It’s been a bouncy, but overall positive day for the S&P/ASX 200 Index (ASX: XJO) thus far this Tuesday. After a shaky start to trading this morning, the ASX 200 has vaulted back into green territory following the Reserve Bank of Australia’s (RBA) decision to leave interest rates unchanged in April, breaking a ten-month streak of rises.

At the time of writing, the index has lifted by a decent 0.13% to back over 7,230 points.

But let’s now dive deeper into these Tuesday market gyrations by taking stock of the ASX 200 shares that are presently at the peak of today’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

AGL Energy Limited (ASX: AGL)

Our first ASX 200 share worth a look at today is a company that doesn’t often appear on this list. Energy generator and retailer AGL has had a chunky 20.76 million of its shares bought and sold on the markets thus far. There’s been no news or announcements out of AGL itself for a while. So it seems this high volume is the result of the movements of AGL shares themselves.

This company has indeed had a rather wild session so far this Tuesday. AGL closed at $8.21 a share yesterday but opened at $8.28 this morning before going as high as $8.32. But investors seem to have cooled off on the company, and AGL is now back down to $8.22 a share at present, up 0.18% for the day. This volatility probably explains the high trading volumes we are seeing.

Pilbara Minerals Ltd (ASX: PLS)

Next up is a far more familiar face in ASX 200 lithium share Pilbara Minerals. So far during today’s trading, a meaningful 23.92 million Pilbara shares have been exchanged on the markets. We haven’t seen any news out of Pilbara directly today either. Or indeed this week.

But that hasn’t stopped this company from having an even wilder trading day than AGL. Pilbara has had a few stints in both positive and negative territory today. But investors have taken a turn for the worse over the afternoon, with Pilbara now down a nasty 2.6% at $3.70 a share. That’s despite the company climbing as high as $3.84 earlier this morning.

Again, it looks like it’s this volatility that we have to thank for Pilbara’s trading volumes this Tuesday.

Telstra Group Ltd (ASX: TLS)

Last but certainly not least when it comes to trading volumes, we have ASX 200 telco Telstra. A large 24.96 million Telstra shares have changed hands on the markets as it currently stands. Telstra is having a top run so far this session and has even set a new 52-week high.

This afternoon, the telco hit $4.27 a share, which is the highest level Telstra has traded at since 2017. Right now, the shares are up a solid 1.07% at $4.26. It’s this strong rise, as well as the new 52-week high, that probably explains why this telco is topping our list this Tuesday.

The post Here are the 3 most heavily traded ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

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More reading

• Add these ASX shares to your retirement portfolio for growing passive income: analysts
• These are the best ASX sectors to invest your money into this quarter: Morgans
• Why did the Flight Centre share price go backwards in March?
• ASX 200 rebounds after RBA hits pause on its rate hikes
• Does it make sense to buy Telstra shares at 52-week highs?

Motley Fool contributor Sebastian Bowen has positions in Telstra 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 positions in and has recommended Telstra 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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If you’re not sure where to invest in the current environment, you’re not alone. The banks were the place to be just a couple of months ago, but all that changed last month.

It has been a similar story for ASX energy shares and lithium shares, which are seemingly in and out of favour with the market on a regular basis.

So where should ASX investors turn to now?

The team at Morgans has been busy figuring out which sectors are more likely to outperform in the second quarter of 2023.

In respect to financials, the broker believes that recent banking jitters have created an opportunity for investors. It said:

There are reasons for cautious optimism and a major banking crisis looks unlikely. Unlike in 2007, there do not appear to be large credit losses hidden in opaque instruments on bank balance sheets. Post-GFC reforms mean that large global banks have more robust capital and liquidity buffers.

However, the broker believes that diversified financials are the better option right now, with GQG Partners Inc (ASX: GQG) and QBE Insurance Group Ltd (ASX: QBE) its top picks. It commented:

We continue to see the sector trading at reasonable multiples, offering a good hedge against inflation, and having defensive properties as we potentially head into a slower global economy.

In addition, the broker believes the healthcare sector is a great place for investors to be right now thanks to long-term tailwinds. It explained:

The long-term demand drivers like an increase in complex and chronic conditions will underpin earnings growth. Although the sector is not immune to cost pressures in many instances price increases for services have been pushed through.

Moving on, the sector the broker rates the highest right now is the energy sector, with Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) the broker’s top picks. Morgans explained:

The warm northern winter and recession fears have driven the recent energy correction. However, these events don’t solve for structural supply challenges, which we think can see energy prices again ratchet higher in late 2023.

Finally, the telco sector is high up on the broker’s list right now, with NextDC Ltd (ASX: NXT) and Telstra Group Ltd (ASX: TLS) getting the thumbs up. It said:

Demand for quality secure digital infrastructure remains robust and sector tailwinds look likely to delivering shareholder returns.

All in all, Morgans believes there are plenty of opportunities out there for investors, which bodes well for portfolios this quarter.

The post These are the best ASX sectors to invest your money into this quarter: Morgans appeared first on The Motley Fool Australia.

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More reading

• ASX 200 rebounds after RBA hits pause on its rate hikes
• Morgans names 3 more of the best ASX 200 shares to buy in April
• Does it make sense to buy Telstra shares at 52-week highs?
• Passive income: How much to invest to get $800 per month
• ‘Strong demand’: The 2 ASX 200 shares to pounce on right now

Motley Fool contributor James Mickleboro has positions in Nextdc. 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 has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Flight Centre Travel Group Ltd (ASX: FLT) share price lost momentum in March, closing the month 1.7% lower than it started. After closing February at $18.80, the stock slumped to end March at $18.48.

For comparison, the S&P/ASX 200 Index (ASX: XJO) fell 1.1% last month.

So, what went on at the ASX 200 travel share over the period? Let’s take a look.

Flight Centre completes capital raising in March

After starting 2023 with two months of ripper gains, the Flight Centre share price stalled in March.

Interestingly, there was no price-sensitive news from the travel giant last month. Though, it did complete what became a $240 million capital raise.

The company launched a share purchase plan (SPP) to help fund its acquisition of luxury travel brand Scott Dunn in February. The SPP was originally intended to raise $40 million.

However, after receiving applications for more than $350 million worth of new shares – offered at $14.60 apiece – the company bolstered the raise to $60 million.

Flight Centre founder and managing director Graham Turner commented on the demand, thanking shareholders for their support and saying:

By increasing the SPP offer to $60 million, we have provided our shareholders with the opportunity to secure a more meaningful stake in their company with a view to benefitting to a larger degree as its post-COVID recovery gains momentum.

But not all were as bullish on the Flight Centre share price as the 19,304 shareholders who applied for the SPP assumably were.

The ASX 200 stock remained the market’s most shorted last month. The company had a short interest of nearly 12% at last count.

It’s worth mentioning, however, that’s notably lower than its peak short interest in April 2022 when more than 18% of its shares were being shorted.

Flight Centre share price snapshot

March was a disappointing month for the Flight Centre share price. But the stock has outperformed over the longer term.

It’s gained 32% since the start of 2023. Though, it’s 2% lower than it was this time last year.

Comparatively, the ASX 200 has lifted 4% year to date and has fallen 4% over the last 12 months.

The post Why did the Flight Centre share price go backwards in March? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 rebounds after RBA hits pause on its rate hikes
• The ASX 200 is down 5% since February. Time to pounce for passive income?
• Why did the Fortescue share price smash the ASX 200 in March?
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel 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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The S&P/ASX 200 Index (ASX: XJO) has rebounded this afternoon after the Reserve Bank of Australia (RBA) announced its cash rate decision.

Shortly after the decision, the ASX 200 index is up 0.15% to 7,234.4 points.

RBA hits pause

According to the release, much to the delight of borrowers, the central bank has elected to pause its hikes and has kept the cash rate at 3.6%.

This shouldn’t come as surprise to the market. In fact, the ASX 30 Day Interbank Cash Rate Futures for April 2023 indicated that the market was pricing in a 100% probability that rates would not change at today’s meeting. That’s as sure as sure can be!

What did the RBA say?

The RBA explained that it was hitting pause because it wants to wait and see what impact recent hikes will have on the economy and inflation. Governor Philip Lowe commented:

At its meeting today, the Board decided to leave the cash rate target unchanged at 3.60 per cent and the interest rate on Exchange Settlement balances unchanged at 3.50 per cent. This decision follows a cumulative increase in interest rates of 3½ percentage points since May last year.

The Board recognises that monetary policy operates with a lag and that the full effect of this substantial increase in interest rates is yet to be felt. The Board took the decision to hold interest rates steady this month to provide additional time to assess the impact of the increase in interest rates to date and the economic outlook.

But that doesn’t mean that the rate hike cycle is over. The RBA concluded by stating that it believes further increases to the cash rate may be required in the future to tame inflation. It concludes:

The Board expects that some further tightening of monetary policy may well be needed to ensure that inflation returns to target. The decision to hold interest rates steady this month provides the Board with more time to assess the state of the economy and the outlook, in an environment of considerable uncertainty.

In assessing when and how much further interest rates need to increase, the Board will be paying close attention to developments in the global economy, trends in household spending and the outlook for inflation and the labour market. The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.

How are ASX 200 shares reacting?

It has largely been business as usual for ASX 200 shares since the RBA’s announcement. Here’s a summary of how some notable shares are faring:

• The Commonwealth Bank of Australia (ASX: CBA) share price has recovered from a 0.5% decline to be flat.
• The BHP Group Ltd (ASX: BHP) share price is still down almost 2% to $46.14.
• The Telstra Group Ltd (ASX: TLS) share price remains up 1% to $4.26.
• The Xero Limited (ASX: XRO) share price continues has climbed slightly since the decision to be up 1.5% to $92.04.

The post ASX 200 rebounds after RBA hits pause on its rate hikes appeared first on The Motley Fool Australia.

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More reading

• Morgans names 3 more of the best ASX 200 shares to buy in April
• Does it make sense to buy Telstra shares at 52-week highs?
• Passive income: How much to invest to get $800 per month
• The ASX 200 is down 5% since February. Time to pounce for passive income?
• Why did the Fortescue share price smash the ASX 200 in March?

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

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ANZ Group Holdings Ltd (ASX: ANZ) shares have slipped into the red in the last month, but could better days be ahead?

ANZ shares have descended 3% since market close on 3 March and are currently fetching $23.11. In today’s trade, ANZ shares are falling 0.43%. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 0.048% at last look.

Let’s take a look at the outlook for the ANZ share price.

Are recent bank collapses overseas a positive?

Global markets were rocked in March by news of bank collapses, including California’s Silicon Valley Bank. Switzerland bank Credit Suisse also revealed it is facing liquidity issues including “significant deposit and net asset outflows”.

However, despite this news overseas, ANZ is in fact receiving more requests from depositors due to its double-A rating.

ANZ North Asia financial institutions head Annabel Squier, commenting in the Australian Financial Review, said:

We’ve seen a lot of requests come to us in the last couple of weeks because of what’s happened in America and Europe – saying you’re double-A rated, you’re regulated by one of the strictest regulators globally, we want to put our deposits with you.

The likes of Bank of America, JP Morgan, Citibank are flooded with deposits and other regional banks, which is why we’re getting a lot of calls from companies.

ANZ has recently been recommended as a “buy” by the team at Citi with a $29.25 price target. Citi analysts believe ANZ’s earnings are ahead of expectations.

Meanwhile, ANZ has responded to the Australian Competition and Consumer Commission (ACCC)’s preliminary views on its potential acquisition of Suncorp Group Ltd (ASX: SUN).

As my Foolish colleague James reported this morning, the ACCC is seeking more submissions from stakeholders before making a final decision on 12 June.

ANZ today said it welcomes the ACCC’s statement of preliminary views. CEO Shayne Elliot said:

We welcome the detailed work the ACCC is undertaking following ANZ’s application, and we will examine their preliminary views in detail and respond to the matters raised.

When we announced the acquisition, we acknowledged that there would be questions from Government and regulators about the competition aspects of this transaction, and we welcomed that scrutiny. We welcome the further community consultation that will now occur.

ANZ share price snapshot

ANZ shares have slid 14% in the last year but they have climbed 0.61% year to date.

ANZ has a market capitalisation of about $69 billion based on the current share price.

The post Could ANZ shares cash in on the recent international bank collapses? appeared first on The Motley Fool Australia.

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More reading

• ANZ share price higher amid Suncorp Bank takeover news
• Brokers say these ASX dividend shares are buys
• 3 Warren Buffett tips on how to invest in ASX 200 banks
• Why did the ANZ share price crash 7% in March?
• Guess which ASX 200 bank stock UBS says is the most over-priced right now

Motley Fool contributor Monica O’Shea 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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The team at Morgans has been busy picking out its best ASX 200 share ideas for April.

These are the shares that its analysts think offer the highest risk-adjusted returns over a 12-month timeframe. They are also supported by a higher-than-average level of confidence.

The first two ASX 200 shares we looked at can be found here. Read on for three more picks:

Endeavour Group Ltd (ASX: EDV)

The first ASX 200 share that Morgans has on its best ideas list this month is drinks company Endeavour. The broker has an add rating and $7.80 price target on its shares. Its analysts like the company due to its leadership position and easing regulatory issues. Morgans commented:

We believe concerns around gaming regulatory changes with the potential introduction of cashless gaming cards in NSW have eased following the Labor election victory given the party’s stance on the issue was less onerous than the Liberals. Notwithstanding external factors, EDV’s underlying business remains strong with a broad network of retail liquor stores/hotel venues, well-known brands (eg, Dan Murphy’s and BWS) and dominant market positions.

Nextdc Ltd (ASX: NXT)

Another ASX 200 share that could be a top option for investors is this data centre operator. Morgans currently has an add rating and $13.00 price target on its shares. The broker believes structural tailwinds will drive strong earnings growth over the coming years. It explained:

Structural demand for cloud and colocation remains incredibly strong. NXT’s new S3 and M3 data centres are now open. Consequently, we expect significant new customer wins over the next six to twelve months (including CSP options being exercised). Sales should drive the share price higher. NXT looks comfortably on-track to generate over $300m of EBITDA in the next three to five years.

Xero Limited (ASX: XRO)

Morgans is bullish on this cloud accounting platform provider and has an add rating and $97.00 price target on its shares. The broker believes recent share price weakness has created a rare buying opportunity for investors. It commented:

XRO is a high quality cash generative business with impressive customer advocacy and duration. Over the last 12 months rising interest rates and competition have made things harder for Xero. However, we see the current shortterm weakness as a rare opportunity to buy a high quality global growth company at a discount to the life time value of its current customer base.

The post Morgans names 3 more of the best ASX 200 shares to buy in April appeared first on The Motley Fool Australia.

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More reading

• 2 excellent ASX 200 shares I’d buy in April (and hold until at least 2030)
• Here are the top 10 ASX 200 shares today
• Top brokers name 3 ASX shares to buy next week
• 3 reasons why I think the Xero share price is a top buy today
• Why brokers tip double-digit gains from the Endeavour share price

Motley Fool contributor James Mickleboro has positions in Nextdc and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. 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 starting to feel like a while since the beaten-up ASX share BWX Ltd (ASX: BWX) has been available for trading on the ASX. That’s because it has been. BWX shares last traded on the share market back on 23 March, almost two weeks ago.

Back then, the company announced a trading halt so that it could “complete its refinancing”, which was first announced to investors last year.

And that’s all we’ve heard from BWX over the past fortnight or so. Well, until yesterday.

BWX shares enter voluntary administration

It appears that the company’s refinancing efforts did not turn out as planned. Yesterday, BWX put out another ASX statement. This confirmed that the company has entered voluntary administration. Here’s some of what the statement had to say:

A range of issues have continued to impact the Australian operations of BWX, including customer destocking and inventory and working capital issues necessitating the Director’s decision to appoint Administrators.

The Directors believe entering Voluntary Administration will help progress the restructuring process already underway with new management at BWX and give the company the best chance of future profitability. The Directors will work with the Administrators to ensure a positive outcome in the Administration, with employees and customers remaining a top priority.

BWX was at pains to state that the company’s operations outside Australia, as well as its recently-acquired Go-To business, are not included in the administration proceedings. However, it was also confirmed that the company’s directors are attempting to find a buyer for BWX’s 50.1% stake in Go-To.

So it’s unclear where BWX and its shares are headed to from here. If the company is able to secure refinancing, it could well find itself back on the ASX. But that might not happen for a while. We’ll just have to wait and see what the company says and does next.

BWX shares last traded at a share price of 20 cents each. That’s down more than 90% from where BWX was a year ago. At that share price, BWX had a market capitalisation of $39 million.

The post Beaten up BWX shares remain halted amid voluntary administration appeared first on The Motley Fool Australia.

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More reading

• Why Aeris Resources, Evolution, Li-S Energy, and Race Oncology shares are charging higher
• 4 ASX 200 shares just upgraded by brokers, one with 18% upside
• Does it make sense to buy Telstra shares at 52-week highs?
• Why Energy Resources, Paradigm, Piedmont Lithum, and Seek shares are dropping today
• Top broker says buy CSL stock while trading on ‘cheapest multiple in a long time’

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia 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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Now could be a great time to buy some S&P/ASX 200 Index (ASX: XJO) materials and industrials shares, if brokers are to be believed.

Analysts have recently taken a fresh look at these companies, coming away with a more positive opinion on their stocks. In fact, one has been tipped to soar 18%.

Let’s take a look at four ASX 200 shares that have been upgraded by brokers this week.

4 ASX 200 shares upgraded by brokers this week

Core Lithium Ltd (ASX: CXO)

First off the bat is ASX 200 battery materials favourite Core Lithium.

This year has been transformative for the company. It saw its maiden lithium shipment sail in January and kicked off spodumene production in February. Such happenings may have turned sentiment in the company’s favour.

Indeed, broker JPMorgan appears more bullish on the stock than it previously was. It upped its outlook for the ASX 200 lithium share to neutral this week, The Australian reports.

ALS Ltd (ASX: ALQ)

Meanwhile, Goldman Sachs has initiated coverage of testing, inspection, certification, and verification services provider ALS.

The broker expects the company to benefit from the ongoing green metals trend, rating it a buy and tipping it to gain 16.2% to reach $12.56.

Seven Group Holdings Ltd (ASX: SVW)

Goldman Sachs has also slapped a buy rating and a $27.90 price target on industrials share Seven Group – representing a potential 17.8% upside.

The investment group holds major stakes in Boral Limited (ASX: BLD), Beach Energy Ltd (ASX: BPT), and Seven West Media Ltd (ASX: SWM).

Iluka Resources Limited (ASX: ILU)

Finally, critical minerals and rare earths minerals developer and producer Iluka Resources has also been the subject of a broker upgrade.

Barrenjoey upped its expectations for the ASX 200 share, The Australian reports. It’s been tipped to gain 9% to trade at $12.

The post 4 ASX 200 shares just upgraded by brokers, one with 18% upside appeared first on The Motley Fool Australia.

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More reading

• Could this further cloud the outlook for ASX 200 lithium shares?
• Leading brokers name 3 ASX shares to buy today
• What on earth happened to the Core Lithium share price in March?
• These are the 10 most shorted ASX shares this week
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and slipped into the red. At the time of writing, the benchmark index is down slightly to 7,221.3 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Energy Resources Of Australia Ltd (ASX: ERA)

The Energy Resources share price is down 10% to 18.5 cents. Investors have been selling this uranium developer’s shares after it announced a $369 million 5 for 1 entitlement offer. The company is aiming to raise the funds at a whopping 90.2% discount of 2 cents per share. The funds will be used partly to support its Ranger Project Area rehabilitation expenditure over the next 12 months.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is down 6% to $1.35. This morning, this biopharmaceutical company released an update on a phase 2 clinical study of injectable pentosan polysulfate sodium (iPPS). Day 168 data from Paradigm’s trial demonstrates multiple signals that iPPS may slow disease progression in knee osteoarthritis. Some investors may have been looking for stronger data from the trial.

Piedmont Lithium Inc (ASX: PLL)

The Piedmont Lithium share price is down 5.5% to 84 cents. This follows a similarly sharp decline for this lithium miner’s NASDAQ listed shares during overnight trade on Wall Street. This appears to have been driven by broad weakness in the lithium industry.

Seek Ltd (ASX: SEK)

The Seek share price is down 2.5% to $23.62. Investors have been selling this job listings company’s shares after it revealed it would fall short of its revenue guidance in FY 2023 due to continued moderation of job ad volumes. Positively, management expects to still achieve its earnings guidance despite this. It also provided long term revenue guidance ahead of consensus expectations.

The post Why Energy Resources, Paradigm, Piedmont Lithum, and Seek shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Seek share price sinks 7% on guidance update
• Morgans names the best ASX shares to buy in April
• Why Block, Novonix, Piedmont Lithium, and Syrah shares are racing higher
• Why is the Sayona Mining share price having such a stellar end to the week?
• Piedmont Lithium share price surges 6% on ‘exciting milestone’

Motley Fool contributor James Mickleboro has positions in Seek. 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 Seek. 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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CSL Limited (ASX: CSL) has fallen slightly on the stock market in the last month, but could now be the time to pounce?

CSL shares have descended 0.84% since market close on 4 April and are fetching $290.81 a piece at last look. In today’s trade, CSL shares are 0.03% in the red. For perspective, the S&P/ASX 200 Index (ASX: XJO) is rising 0.01% today.

Let’s take a look at the outlook for CSL stock going forward.

What’s ahead?

CSL is a global biotechnology company that operates a huge plasma collection network along with developing a range of life-saving therapies and vaccines.

CSL is one of multiple “recession-proof” shares according to Airlie Funds Management head of Australian equities Matt Williams.

Williams noted CSL’s collection costs are falling and could go down even more. In quotes provided to The Australian, Williams said:

During Covid, the cost of collecting plasma went up significantly. Those costs are
now reducing and in fact, a recession should actually lead to lower collection costs
because they won‘t have to pay their blood donors as much.

CSL is absolutely in that basket of recession-proof stocks. It‘s trading on a similar
multiple to Woolworths but it’s actually the cheapest multiple I’ve seen it for a long
time.

CSL reported a net profit of US$1.62 billion in the first half of the 2023 financial year. The company noted plasma collections were at record levels.

Meanwhile, the team at Morgans has also recently placed an add rating on CSL shares with a $337.92 price target. This implies an upside of about 16% based on CSL’s current share price.

Analysts are optimistic plasma collections will lift and more people will take the flu vaccine. Morgans said:

A key portfolio holding and key sector pick, we believe CSL is poised to break-out this year, a COVID exit trade, offering double-digit recovery in earnings growth as plasma collections increase, new products get approved and influenza vaccine uptake increases around ongoing concerns about respiratory viruses, with shares offering good value trading around its long-term forward multiple of ~30x.

CSL share price snapshot

The CSL share price has lifted nearly 9% in the last year.

CSL has a market capitalisation of about $140 billion based on the current share price.

The post Top broker says buy CSL stock while trading on ‘cheapest multiple in a long time’ appeared first on The Motley Fool Australia.

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More reading

• Passive income: How much to invest to get $800 per month
• Morgans names the best ASX shares to buy in April
• This ASX share’s halved in 5 years, but I’m still sticking with it
• This ASX 200 giant is about to wake up from a 3-year slumber. Are you ready?
• Fundie loves these 2 ASX 200 shares that are ‘difficult to replicate’

Motley Fool contributor Monica O’Shea 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 CSL. 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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