In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and is charging higher. At the time of writing, the benchmark index is up 0.5% to 7,616.4 points.

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

Gold Road Resources Ltd (ASX: GOR)

The Gold Road share price is up over 8% to $1.51. This may have been driven by a broker note out of Macquarie. In response to a selloff on Monday, its analysts have upgraded the gold miner’s shares to an outperform rating with a $1.60 price target. In addition, Jefferies has lifted its recommendation to a buy rating with a $2.00 price target.

Ioneer Ltd (ASX: INR)

The Ioneer share price is up 11% to 12.2 cents. This follows the release of a quarterly update from the lithium-boron developer. Management spoke very positively about the year ahead. It said: “2024 promises to be a momentous year for Ioneer, including the expected conclusion of the federal permitting process and the commencement of construction at Rhyolite Ridge.”

Megaport Ltd (ASX: MP1)

The Megaport share price is up 26% to $12.38. Investors have been buying the elasticity connectivity and network services interconnection provider’s shares following the release of its quarterly update. For the three months, Megaport reported total revenue of $48.6 million. This was an increase of 5% quarter on quarter and 31% year on year.

Nickel Industries Ltd (ASX: NIC)

The Nickel Industries share price is up 20% to 72 cents. This has been driven by the release of a strong quarterly update and the announcement of a new dividend policy and on-market share buyback. In respect to the latter, the company will be buying back up to US$100 million worth of shares over the next 12 months.

The post Why Gold Road, Ioneer, Megaport, and Nickel Industries shares are roaring higher appeared first on The Motley Fool Australia.

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More reading

• Gold Road shares rebound 7% as brokers scramble to upgrade ASX 200 gold stock
• Guess which ASX 200 stock is up 17% on big news
• Why is the Megaport share price rocketing 17% today?
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today

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 Megaport. The Motley Fool Australia has recommended 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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Oil price rises in recent days reflect a higher risk of Iran becoming more involved in current Middle East tensions, according to CBA’s director of mining and energy commodity research, Vivek Dhar.

The Brent Crude oil price closed at US$82.40 per barrel, down 1.38% overnight.

The WTI Crude oil price closed at US$76.96 per barrel, up 0.23%.

Both oil prices reached their highest levels since November in recent days amid concerns over how Middle East tensions may play out from here.

Middle East tensions supporting oil prices

According to The Australian, Dhar expects tensions between the United States and Iran to continue to support oil prices given the potential impact on global supply chains.

Dhar says global oil supply could be disrupted if Iran gets involved in a direct confrontation with the US.

The world is waiting to see how US President Joe Biden will respond to a drone strike on a US military base in Jordan that killed three servicemen and wounded more than 40 others on Sunday.

Iran has denied any involvement but AP News reports that US officials have “assessed that one of several Iranian-backed groups was behind it”.

Dhar says an escalation in US-Iran tensions could result in greater enforcement of sanctions on Iran’s oil supply. Iran exports made up about 1% to 1.5% of the world’s oil supply in 2023.

But the greater concern is that Iran may blockade the Strait of Hormuz. About 15% to 20% of the world’s oil supply transits through there.

Meanwhile, Iran-based Houthi rebels continue to attack international trade ships in the Red Sea, through which about 6.5% to 7% of global oil and fuel supply transits.

Dhar says an attack over the weekend on a tanker carrying Russian fuel for global commodities supplier Trafigura was the “most significant attack on a tanker since tensions in the region escalated in the wake of the Israel‑Hamas war.”

ASX oil shares on Tuesday

Oil prices have a direct impact on ASX oil shares because they impact company earnings.

Today, Woodside Energy Group Ltd (ASX: WDS) shares are down 0.52% to $31.75 at the time of writing.

Santos Ltd (ASX: STO) shares are down 0.64% to $7.75.

Beach Energy Ltd (ASX: BPT) shares are steady at $1.63 apiece.

The post How US-Iran tensions will support oil prices: CBA analyst appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• How investing $100 per week can create $1,500 in annual ASX dividend income
• Could this be jump-starting ASX energy shares today?
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• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor Bronwyn Allen 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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Nickel Industries Ltd (ASX: NIC) shares are having a very strong session.

In morning trade, the ASX 200 nickel stock is up 17% to 70.5 cents.

Why is this ASX 200 stock jumping?

There are a couple of reasons why investors have been buying this nickel producer’s shares on Tuesday.

The first is the release of a quarterly update which revealed record production and sales volumes.

According to the release, production came in at a record of 34,450 tonnes of nickel metal. This is up from 29,367 tonnes during the previous quarter.

This allowed the ASX 200 stock to sell a record 34,427 tonnes of nickel metal. This was an 18% increase on the prior corresponding period.

There were no records for its earnings, though. Softer pricing led to EBITDA falling quarter on quarter to US$85.1 million from US$97.6 million.

Nevertheless, at the end of the quarter the company had cash, receivables, and inventory of US$1,302.5 million.

What else is happening?

Also getting investors excited was news that the ASX 200 stock is planning to return funds to investors through an on-market share buyback.

Nickel Industries intends to return up to US$100 million of additional capital to shareholders over the next 12 months, in addition to dividends.

Speaking of dividends, this morning the company announced a revised dividend policy. The new policy will see between 30% and 60% of free cash flow returned to shareholders by way of regular dividends declared on an interim and final basis each financial year.

The ASX 200 stock’s managing director, Justin Werner, said:

Nickel Industries has transitioned into a position to target higher shareholder returns via our new Capital Management Framework through strong operating performance. The revised dividend policy represents a significant uplift from existing dividend levels and will allow for greater returns to shareholders. We are pleased to announce an initial on-market share buyback as we strongly believe the current share price undervalues the Company.

The post Guess which ASX 200 stock is up 17% on big news appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
• 3 ASX 200 stocks starting the new year at near 52-week lows

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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The Novonix Ltd (ASX: NVX) share price kicked off early trading well into the green, up 1.6% to 62 cents apiece.

Shares in the All Ordinaries Index (ASX: XAO) battery technology company closed up 10.9% yesterday trading for 61 cents.

In slightly later morning trade on Tuesday, shares have given back those early morning gains and are swapping hands for 60.5 cents apiece, down 0.8%.

For some context, the All Ords is up 0.5% at this same time.

This comes following the release of Novonix’s fourth-quarter update covering the three months ending 31 December.

Here are the highlights.

Novonix share price in flux as first production nears

The Novonix share price is on a bit of a rollercoaster after the company reiterated its intentions to commence commercial production of synthetic graphite anode materials in late 2024.

Novonix plans to produce an initial 3,000 tonnes per annum (tpa) of the materials, used in lithium-ion batteries, from its Anode Materials plant, located in the US state of Tennessee.

Among the highlights of the quarter just past, Novonix finalised a US$100 million grant from the US Department of Energy (DOE) Office of Manufacturing and Energy Supply Chains and progressed with anode customer sampling and discussions.

In its Battery Technology Solutions segment, the company said it continued its development of artificial intelligence and machine learning models and advanced its cathode materials development.

Commenting on the progress that sees the Novonix share price seeking direction today, CEO Chris Burns said, “We delivered key milestones on four main priorities.”

He cited:

• Maintaining the company’s technological lead in the battery materials sector
• Progressing and validating its Generation 3 furnace technology at mass production scale
• Sampling and working with tier one customers
• Securing financing in the form of the DOE office of Manufacturing and Energy Supply Chains US$100 million grant in the fourth quarter

Burns added:

Our first-in-the-world graphitisation technology continues to attract attention from tier one customers looking for a localised and more sustainable anode material supplier. China highlighted the urgency of localisation efforts with its announcement in the fourth quarter on export controls for graphite.

Looking ahead, Burns said, “We believe that 2024 will be a landmark year.”

As at 31 December, the company held $79 million in cash.

How has the All Ords battery tech company been performing?

It’s been a tough year for the Novonix share price, with the stock down 69% over the past 12 months.

The post Why is the Novonix share price on a rollercoaster today? appeared first on The Motley Fool Australia.

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• Why is the DroneShield share price jumping to a 52-week high today?
• Why is the Megaport share price rocketing 17% today?
• 2 excellent ASX dividend shares I’d buy with $3,000
• How big could the 12-month return be on Woolworths shares?

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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S&P/ASX 20 Index (ASX: XTL) shares are among the biggest and best companies in Australia. I think ASX blue-chip shares can deliver good returns, but there are only a few names I’d want to buy for my own portfolio.

For my own portfolio, I like to look at businesses that have a compelling growth runway and the ability to expand in different ways. Commonwealth Bank of Australia (ASX: CBA) is a solid business, but I don’t think it has a lot of strong growth ahead for various reasons (including its size and competition), and it could be difficult for the bank to materially diversify its earnings.

With that in mind, these are the two ASX 20 shares I’d buy with $2,000.

Macquarie Group Ltd (ASX: MQG)

I think Macquarie is perhaps the best ASX financial share. The long-term focus of management and the business overall has led to a very strong setup, it has built up four impressive divisions – banking and financial services (BFS), investment bank, ‘commodities and global markets’ (CGM) and Macquarie Asset Management (MAM).

The ASX 20 share generates around two-thirds of its earnings from outside of the local market. It can choose to grow in whatever market it is seeing opportunities. Its different divisions give it a wide array of areas to grow.

For a financial ASX 20 share, I think it earns an impressive return on equity (ROE), which is a good incentive for the business to keep reinvesting some profits for more growth in the long term. I like its efforts to expand into ‘green’ energy, which is a sector that needs a lot of funding.

According to Commsec, the Macquarie share price is valued at 16 times FY25’s estimated earnings.

Wesfarmers Ltd (ASX: WES)

I think Wesfarmers is one of the strongest businesses on the ASX. It owns the businesses of Bunnings, Kmart, Officeworks, Priceline, Target and more.

Bunnings is an extremely strong retail business and makes a high return on capital (ROC). Kmart is delivering a market-leading performance in its sector as it continues to grow earnings amid the high cost of living. Both Bunnings and Kmart are appealing strongly to cost-conscious customers.

One of the things I like the most about Wesfarmers is that it has the flexibility to own whatever businesses it thinks can help deliver good long-term returns. For example, in the last few years, the ASX 20 share has decided to expand into healthcare, which can increase the defensive nature of the company’s earnings, and there are also strong ageing demographic tailwinds.

In ten years, the businesses in the Wesfarmers portfolio could be quite different, just like how it decided to divest Coles Group Ltd (ASX: COL) and acquire Catch.

The company is always focused on delivering good returns for shareholders, including paying a good dividend each year. Using the trailing payouts, it has a grossed-up dividend yield of 4.7%.

The post Where I’d invest $2,000 in ASX 20 shares today appeared first on The Motley Fool Australia.

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• Why I prefer buying ASX shares over bonds
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Motley Fool contributor Tristan Harrison 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 and Wesfarmers. The Motley Fool Australia has positions in and has recommended Coles Group, Macquarie Group, and Wesfarmers. 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 DroneShield Ltd (ASX: DRO) share price has continued its impressive run.

In morning trade, the counter drone technology company’s shares are up 8% to a 52-week high of 46 cents.

Why is the DroneShield share price racing higher?

The company’s shares are rising today after investors responded positively to news of a new product launch.

According to the release, DroneShield has launched its Expeditionary Fixed-Site (EFS) Kit for the DroneSentry-X Mk2.

DroneSentry-X Mk2 is a multi-mission Counter-UxS solution providing artificial intelligence (AI) driven detection, identification, and next generation electronic defeat capabilities engineered for mobile and expeditionary use cases.

Management notes that its new EFS Kit enables rapid deployment of the DroneSentry-X Mk2 across a wide range of operations, setting a new standard for ease of use among tactical end users.

The company highlights that the integration of AI ensures that operators receive real-time intelligence, allowing for rapid decision-making and response to UxS threats. In addition, the EFS Kit transforms the DroneSentry-X into a best in class integrated sensor and effector solution for wide area operations. This allows it to be easily deployed in various environments.

DroneShield’s U.S. CEO, Matt McCrann, was pleased with the launch. He commented:

The DroneSentry-X EFS Kit addresses a huge gap for operators – combining an adaptable Counter-UxS capability with user-friendly features. Our commitment to ease of use is evident in every aspect of the DroneSentry-X EFS Kit, from advanced AI detection to the truly easy to deploy configuration.

This sentiment was echoed by DroneShield’s Chief Technology Officer, Angus Bean. He added:

We are focused on rapid product development this includes both new technologies and solution refinement based on end user mission sets. We want to execute on the complete solution, considering sequence of operation, deployment life cycle and ongoing support.

The DroneShield share price is now up 24% in 2024.

The post Why is the DroneShield share price jumping to a 52-week high today? 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 positions in and has recommended DroneShield. The Motley Fool Australia has recommended DroneShield. 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 Megaport Ltd (ASX: MP1) share price is on fire on Tuesday morning.

In early trade, the elasticity connectivity and network services interconnection provider’s shares are up 17% to $11.48.

Why is the Megaport share price rocketing?

Investors have been buying the company’s shares this morning following the release of its quarterly update.

For the three months ended 31 December, Megaport reported total revenue of $48.6 million. This was an increase of 5% quarter on quarter and 31% year on year. This was driven by continued growth in customers and total services across all regions.

It was a similar story for its annual recurring revenue (ARR), which stood at $191.7 million at the end of the second quarter. This is up 1% quarter on quarter and approximately 27% year on year.

Management notes that its growth would have been stronger but was negatively impacted by significant foreign exchange headwinds from a strengthening Australian dollar. Underlying ARR excluding the impact of foreign exchange grew $7.6 million or 4% in the quarter.

Pleasingly, a strong turnaround in profitability while still investing in growth saw Megaport deliver positive EBITDA of $15.1 million for the quarter.

And while this is flat quarter on quarter, that’s because it reflects the increase in expenditure to reignite its go-to-market engine. This includes additional costs for sales, marketing and customer success staff, events, marketing and travel, offset by the growth in revenue.

On an annual basis, Megaport’s EBITDA was up $12.7 million or 500%+ from $2.4 million in the prior corresponding period.

Another positive that is giving the Megaport share price a boost is its cash flow. Megaport generated positive net cash flow of $6.9 million, which is up 23% quarter on quarter and by $18 million year on year.

This left the company with a cash balance of $62.5 million, which is an increase of $7.3 million since the end of September.

Business update

Management also provided investors with a few comments in relation to how the business is performing. It said:

The investment in our go-to-market (GTM) engine to drive future top-line growth is continuing, with North American Sales team hiring now complete and all roles “in seat”. […] With the team now successfully built out, focus has shifted towards improving the effectiveness of the GTM engine. This includes optimising lead generation, nurturing the pipeline of opportunities, and simplifying and elevating both the sales process and GTM operating models and tools.

In addition, the company’s Global WAN as a Service is starting to generate meaningful revenue. It said:

Our focus on delivering Global WAN as a Service is gaining traction with customers, as evidenced by a three-year agreement signed with a major US healthcare provider. With operations spanning multiple US states, this project enabled the customer to overhaul their IT infrastructure to connect eight data centres, modernise their point-to-point connectivity, and deliver diversity at the port level. This Global WAN solution enabled a significantly larger deal size, generating $1.4M in ARR and $4.2M in total contract value.

The Megaport share price is up 50% over the last 12 months.

The post Why is the Megaport share price rocketing 17% today? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today
• Are ASX growth shares back? How these fundies delivered over 20% upside in 2023
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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 positions in and has recommended Megaport. The Motley Fool Australia has recommended 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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ASX dividend shares are a great place to find strong passive income. Businesses with a high dividend yield or a history of dividend reliability can be very attractive investments for income-seekers.

We don’t need a $1 million portfolio to start bringing in good amounts of cash. In fact, dividends can potentially flow from a $3,000 investment in just two stocks, which I’ll outline below.

Brickworks Limited (ASX: BKW)

Brickworks is the largest brickmaker in Australia, it’s also involved in the production of paving, masonry, cement, roofing and specialised building systems. The company is a large brickmaker in the US.

This company hasn’t cut its dividend for almost 50 years, which is an extraordinary record of consistency and resilience for investors. It has also increased its dividend each year since 2014, so this year, it will be a decade of growth if the payout increases.

How has a brickmaker managed to achieve this record?

I’d put it down to two of the ASX dividend share’s assets – its large shareholding of investment house Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) and its property holdings.

Soul Patts owns a diversified portfolio of assets which provides balance and stability to the cyclical building products earnings. Over time, Soul Patts has provided a growing dividend and capital growth for Brickworks.

Brickworks owns a lot of land, some of which is used by and connected to its building product manufacturing. It also regularly sells excess land into a joint property trust which builds large warehouses, mainly used for logistics, on the land.

Completing those warehouses unlocks rental cash flow and it results in a development profit because of an increase in the value of the land.

It has a trailing grossed-up dividend yield of 3.2%.

Healthco Healthcare and Wellness REIT (ASX: HCW)

As the name suggests, this is a real estate investment trust (REIT) that is invested in healthcare and wellness buildings. The business aims to provide exposure to a diversified portfolio underpinned by healthcare sector megatrends. It’s also targeting “stable and growing distributions, long-term capital growth and positive environmental and social impact.”

The tailwinds include an ageing population with higher rates of spending per person, growing government spending on health and social welfare services, and technological improvements.

The ASX dividend share’s 36 properties have an occupancy rate of 99% with a weighted average lease expiry (WALE) of 12 years.

The business can grow from both rental growth and its future development pipeline – more properties means more rental profits, which can lead to bigger distributions.

It’s expecting to generate 8 cents of funds from operations (FFO) (rental profit) per unit in FY24, and pay that out as a distribution, amounting to a yield of 6.25% for FY24.

The post 2 excellent ASX dividend shares I’d buy with $3,000 appeared first on The Motley Fool Australia.

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• Are Brickworks or Soul Patts shares a better ASX buy? Here’s my take
• Brokers name 3 ASX dividend shares to buy now
• Own Brickworks shares? Here’s how much you’ve been paid in dividends since COVID-19!
• Brokers name 3 ASX dividend shares to buy now
• 1 ASX dividend stock down 40% to buy right now

Motley Fool contributor Tristan Harrison has positions in Brickworks 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 Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. 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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Woolworths Group Ltd (ASX: WOW) shares were out of form on Tuesday.

That retail giant’s shares edged lower after investors gave a lukewarm response to a trading update.

The team at Goldman Sachs has been looking through the update and has given its verdict on the company’s shares.

What is Goldman saying about Woolworths shares?

Goldman was relatively pleased with the company’s update, noting that a weak performance in New Zealand has been offset by a stronger than expected performance in Australia. It said:

Whilst we expect that the NZ business to take longer for a turnaround (FY26 EBIT of A$196mn, vs FY19 of A$277mn), we believe that the AU Foods business continues to show better than expected strength with a combination of better-than-market growth in sales and EBIT margin expansion. In 1H24, for AU Foods, we forecast strong sales growth of 6% and 5.1% EBIT margin (+26bps yoy). Our FY24 group EBIT forecast is A$3,335mn, +7% yoy. In contrast to COL, we forecast 1H24 Food sales +5% and EBIT margin of 4.6%, -46pct yoy, and we expect the quality gap to further expand from prior years.

What about returns?

While Goldman has trimmed its valuation slightly, it is still expecting strong returns from Woolworths shares over the next 12 months.

According to the note, the broker has retained its conviction buy rating with a new $42.30 price target (from $43.30).

Based on the current Woolworths share price of $36.19, this implies almost 17% upside for investors between now and this time next year.

But the returns won’t stop there. Goldman is forecasting a fully franked 3.2% dividend yield in FY 2024.

If we add this into the equation, the total potential return stretches to a very attractive 20%. This is approximately double the historical market return.

The post How big could the 12-month return be on Woolworths shares? 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 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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Having a few ASX 200 blue chip shares in your portfolio is usually a good idea.

But which ones offer strong potential returns for investors right now?

Two that Goldman Sachs is tipping to rise materially from current levels are listed below. Here’s what the broker is saying about them:

Qantas Airways Limited (ASX: QAN)

The first ASX 200 blue chip share to look at is airline operator Qantas.

Goldman believes that the market is undervaluing the company’s shares, especially given how its earnings capacity has increased materially since pre-COVID times. The broker explains:

Notwithstanding a decline in unit revenues (and group capacity still at 95% of pre-COVID) our estimated FY24e EPS sits ~70% above pre-COVID levels. Despite this, QAN’s market capitalisation and EV are 17% and 24% lower than pre-COVID levels. We acknowledge broader macro uncertainty at this point in the cycle, but believe the current share price does not reflect the group’s improved earnings capacity. […] We believe the stock is not even pricing in a ‘generic’ recovery, let alone improved earnings capacity.

Goldman has a conviction buy rating and $8.25 price target on its shares. This implies potential upside of 48% for investors.

Xero Limited (ASX: XRO)

Another ASX 200 blue chip share that Goldman Sachs rates as a buy is cloud accounting platform provider Xero.

It likes the company due to its significant growth opportunity in a market estimated to comprise over 100 million small to medium sized businesses globally. The broker also sees now as an attractive entry point for investors. It said:

We see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$76bn TAM. Given the company’s pivot to profitable growth and corresponding faster earnings ramp, we see an attractive entry point into a global growth story with Xero our preferred large-cap technology name in ANZ – we are Buy rated.

Goldman has a buy rating and $141.00 price target on its shares. This suggests potential upside of almost 30% from current levels.

The post These ASX 200 blue chip shares can rise 30% to ~50% appeared first on The Motley Fool Australia.

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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 and 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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