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:

Allkem Ltd (ASX: AKE)

According to a note out of Macquarie, its analysts have retained their outperform rating and $17.00 price target on this lithium miner’s shares. This follows the release of a mineral resource estimate upgrade for its Olaroz operation. Macquarie was pleased with the news and remains bullish on the company’s outlook. The Allkem share price is trading at $11.82.

Ingenia Communities Group (ASX: INA)

A note out of Citi reveals that its analysts have initiated coverage on this land lease and holiday park company’s shares with a buy rating and $4.40 price target. Citi likes Ingenia due to its land lease exposure. This is due to its secure CPI-linked income stream, with strong medium-term growth potential from an ageing population and an attractive product versus other retirement alternatives. The Ingenia share price is fetching $3.59 this afternoon.

Liontown Resources Ltd (ASX: LTR)

Analysts at Bell Potter have retained their speculative buy rating on this lithium developer’s shares with an improved price target of $3.35. This follows news that industry giant Albemarle has made a non-binding takeover offer of $2.50 per share. Bell Potter believes this speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector. And while its analysts believe the offer is reasonable, they don’t believe it is full and support management’s decision to reject it. The Liontown share price is trading at $2.61 today.

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

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More reading

• 2 ASX 200 stocks smashing new 52-week highs on Wednesday
• Broker says buy Pilbara Minerals shares now for 44% upside
• Takeover offer ‘reasonable but not full’: Broker says Liontown shares are worth more
• Why the outlook for these ASX 200 lithium shares could be ‘very favourable’
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor James Mickleboro has positions in Allkem. 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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Well, it’s been an interesting day for the S&P/ASX 200 Index (ASX: XJO) so far this Wednesday, to say the least. The ASX 200 started off on a fairly negative footing this morning. 

The Index closed at 7,034.1 points yesterday but quickly fell as low as 7,011 points soon after market open this morning. In fact, the ASX 200 was in red territory until about midday today.

But as it currently stands, the Index has gained 0.11% and has risen up to 7,042 points at the time of writing:

So why this dramatic change of heart from investors today?

Well, the ASX’s pivot from red to green territory almost perfectly coincides with the latest inflation data out of the Australian Bureau of Statistics (ABS). So that could have something to do with it.

This morning (just before midday), the ABS released its latest consumer price index (CPI) figures. And they make for some interesting reading. Over the 12 months to 28 February, the Australian economy endured inflation of 6.8%.

That might seem like a lot (and it is, historically). But over the 12 months to January 2023, inflation was running at 7.4%. That means running annual inflation has slowed from 7.4% to 6.8% in just one month.

Now cooling inflation usually means a cooling economy. This is exactly what the Reserve Bank of Australia (RBA) wants, considering the ten interest rate rises in a row we have just had.

So why might investors be excited over this latest inflation data, considering it might be reflecting a slowing economy?

Why might lower inflation lead to higher ASX shares?

Well, this turnaround in sentiment we have seen on the ASX probably isn’t about inflation itself, but what lower inflation might mean for interest rates. If inflation is slowing (which it seems to be), the RBA might consider pausing its ten-month streak of raising interest rates. 

Interest rates are bad for almost every asset outside cash. They slow the economy down and make growth assets like shares less attractive to investors compared with ‘safer’ alternatives like term deposits.

Over 2020 and 2021, interest rates were effectively zero. This meant that a term deposit or savings account would have yielded you 1% if you were lucky. So if you wanted to chase a better return than that, the share market was one of the only options.

But today, you can get a term deposit at a 5% interest rate or even higher. That makes the prospect of investing in shares a lot less appealing for many investors.

So that’s why investors hate high interest rates. Thus, it’s understandable why today’s inflation data is giving investors confidence in the share market.

The post ASX 200 turns green on softer-than-expected inflation data appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 3 ASX 200 shares cracking multi-year highs on Tuesday
• The whopper Wesfarmers dividend is being paid today. Here’s what you need to know

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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The S&P/ASX 200 Index (ASX: XJO) may be trading over 7% lower than its 52-week high, but that hasn’t stopped a couple of stocks from reaching this milestone today.

Two ASX 200 stocks that have hit new 52-week highs are listed below. Here’s why they are scaling new heights:

Liontown Resources Ltd (ASX: LTR)

The Liontown share price has built on yesterday’s sensational gain and risen to a 52-week high of $2.64 on Wednesday. This has been driven by the lithium developer receiving and rejecting a takeover approach this week.

Analysts at Bell Potter believe that Albemarle’s $2.50 per share takeover proposal was “reasonable but not full.”

In response to the news, the broker has reiterated its speculative buy rating with an improved price target of $3.35. This suggests that this ASX 200 lithium stock could rise a further 27% from its current 52-week high of $2.64.

Its analysts commented:

The corporate interest in LTR from a high-profile US-based industry participant speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector.

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

The Soul Patts share price hit a 52-week high of $29.66 on Wednesday. Investors have been buying the investment house’s shares since the release of its half-year results release last week.

For the six months ended 31 January, the ASX 200 investment stock reported a regular profit of $475.7 million. This was a sizeable 38.4% increase on the prior corresponding period.

Management advised that this reflects strong performances from its strategic portfolio investments, helped by high commodity prices and contributions from Brickworks Limited (ASX: BKW), Apex Healthcare, and New Hope Corporation Limited (ASX: NHC).

This ultimately allowed the Soul Patts board to increase its interim dividend by 24.1% to a fully franked 36 cent per share.

The post 2 ASX 200 stocks smashing new 52-week highs on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Why I continue buying shares of this magnificent ASX dividend stock hand over fist
• Broker says buy Pilbara Minerals shares now for 44% upside
• Takeover offer ‘reasonable but not full’: Broker says Liontown shares are worth more
• How to make passive income for life with just $5 a day
• Is time running out to buy high-yield ASX dividend shares?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended 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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Flight Centre Travel Group Ltd (ASX: FLT) shares are down 0.38% in early afternoon trading today.

Shares in the S&P/ASX 200 Index (ASX: XJO) travel company are currently changing hands for $18.24 apiece.

While that’s down today, Flight Centre shares remain up a healthy 27% so far in 2023.

But, judging by the high levels of short interest, a fair number of ASX 200 investors believe those gains may be unwarranted.

Do short sellers have this one right?

Flight Centre shares kicked off Monday with the dubious honour of being the most shorted ASX share, with an 11.1% short interest.

Now, the ASX 200 travel stock could certainly slide from today’s levels as consumers tighten their belts and delay some travel plans amid stubbornly high inflation. But I believe the company is in a strong position over the medium and longer term. Meaning many short sellers may be caught, well, short.

Inflation or not, domestic and international travel numbers continue to pick up from the disastrous pandemic lockdowns. In fact, when the company released its half-year results last month, it forecast that international capacity would hit 85% of pre-COVID levels by the end of June.

China’s reopening should help drive demand for the company’s services, helping support Flight Centre shares.

And while the company still reported a $2.4 million underlying post-tax loss for the six months ending 31 December (H1 FY23), that was a huge improvement on the $188 million loss posted in the prior corresponding half year.

Revenue leapt 217% year on year to $1 billion. And underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) leapt to $95 million, up from a $184 million loss in H1 FY22.

Flight Centre ended the half year with a $465 million net cash position.

All told this doesn’t bode well for the large number of short sellers betting against Flight Centre shares.

Especially not when contrasted with the positive investor interest in the company’s massively oversubscribed share purchase plan (SPP).

The SPP was intended to raise $40 million to partly fund the company’s $211 million acquisition of United Kingdom-based luxury travel brand, Scott Dunn. A $180 million institutional capital raise will fund the rest.

The huge amount of retail investor interest saw Flight Centre increase the SPP offer to $60 million.

While some short sellers may make a quick buck on any shorter-term pullback in the Flight Centre share price, I believe this stock is better off in investors’ long-term buy-and-hold portfolios.

How have Flight Centre shares been performing?

As you can see in the chart below, Flight Centre shares have enjoyed a very strong rebound in 2023. Shares are up 27% this year, though they remain down 8% over the past 12 months.

Short sellers may also wish to take note that the ASX 200 travel stock remains down 48% from its pre-COVID levels in early February 2020.

The post Are short sellers wrong about Flight Centre shares? appeared first on The Motley Fool Australia.

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• Here are the 10 most shorted ASX shares this week
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• 2 ASX 200 shares to buy for ‘excellent value’: fund manager
• Here are the 10 most shorted ASX shares this week
• Why has the Flight Centre share price tumbled 11% in a week?

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 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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Liontown Resources Ltd (ASX: LTR) shares have been on fire this week thanks to a takeover approach.

And while they are pulling back by 5% this morning, the lithium developer’s shares are still up over 60% this week.

Where next for Liontown shares?

Despite its meteoric rise, the team at Bell Potter believes that the Liontown share price can keep rising from here.

According to a note this morning, the broker has retained its speculative buy rating with an improved price target of $3.35.

Based on where its shares are currently trading, this suggests potential upside of 38% for investors over the next 12 months.

Albemarle offer ‘reasonable but not full’

Bell Potter has been looking over Albemarle’s $2.50 per share takeover proposal for Liontown and believes it is reasonable. However, it feels the company is worth far more than what has been tabled.

And with management holding a sizeable number of Liontown shares, it doesn’t appear to believe that Albemarle will be able to bully its way into acquiring the lithium developer. The broker commented:

The corporate interest in LTR from a high-profile US-based industry participant speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector. We view the value of ALB’s proposal as reasonable, but not full; with additional value to be argued from LTR’s de-risking of Kathleen Valley, downstream projects and complementary ESG strategy and location. We also believe LTR will ultimately be capable of realising this value in the absence of a corporate tie-up.

In light of this, Bell Potter appears to see Liontown as a great option for investors looking for lithium exposure. Though, it highlights that as an asset development company, its “speculative risk rating recognises this higher level of risk.”

The post Takeover offer ‘reasonable but not full’: Broker says Liontown shares are worth more appeared first on The Motley Fool Australia.

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• Broker says buy Pilbara Minerals shares now for 44% upside
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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 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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Aussie billionaire Gerry Harvey, founder and chair of Harvey Norman Holdings Ltd (ASX: HVN), has been on a buying spree in 2023 – snapping up more than $76 million worth of the S&P/ASX 200 Index (ASX: XJO) company’s shares.

And the reason behind the bolstered stake might be a simple one. Harvey apparently believes the Harvey Norman share price is far too low.

Right now, stock in the ASX 200 furniture and electrical retailer – which also has its fingers in the property pie – is trading for $3.715.

Could it still boast as much as a 115% upside? Let’s take a look.

Gerry Harvey snaps up $75 million of his own company’s stock

The Harvey Norman share price has ultimately gone next to nowhere over the last five years, lifting just 8% over that time compared to the broader ASX 200’s 21% gain. Though, the retail stock boasted a peak of around $6 in 2021.

And the company’s boss thinks it can get back there – and beyond, encouraging Australians to sell their houses, cars, and boats and sink the cash into Harvey Norman shares, as per the Australian Financial Review (AFR).

The billionaire reportedly values his company’s stock at between $6 and $8 a pop – a potential upside of 61% to 115% on its current level.

No doubt Harvey hopes it could reach such levels.

He appears to hold around 421 million shares in the company. That’s over 20 million more than he held at the end of last year and nearly 33.8% of the company’s register, according to ASX data.

Indeed, the billionaire has snapped up 1.5 million shares for nearly $5.5 million over the week to Monday.

His current stake is worth approximately $1.5 billion today but could sell for around $3.3 billion if the Harvey Norman share price was to reach $8.

Has the market undervalued Harvey Norman shares?

The Harvey Norman share price tumbled 7% on the back of the company’s half-year earnings, released late last month. The company’s boss reportedly dubbed the sell off a “total overreaction”.

Neglected in the company’s valuation, Harvey told the AFR, is its property portfolio, valued at $3.9 billion according to its earnings report.

However, the entire company’s market capitalisation is just $4.6 billion right now – meaning the market appears to be undervaluing either its property holdings or its retail business.  

Goldman Sachs is bullish on the company on that basis.

It has a buy rating and a $4.70 price target on Harvey Norman shares – representing a 26% upside. It also expects the last half saw the peak of the company’s franchisee support costs.

The post Why has Gerry Harvey bought up $76m of Harvey Norman shares in 2023? appeared first on The Motley Fool Australia.

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• How I’d invest $20k in ASX 200 shares to earn a second income of $140 a month
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• 8 ASX All Ords shares trading ex-dividend this week
• Buy these ASX 200 dividend shares for a second income: analysts
• $72m and counting: ASX 200 director’s massive share buy-up continues

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 positions in and has recommended Goldman Sachs Group and Harvey Norman. The Motley Fool Australia has positions in and has recommended Harvey Norman. 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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When it comes to investing in ASX dividend stocks, there is one company that I continue to buy hand-over-fist. It’s not often we find companies that we would be happy to have dominate our portfolio. But if the share market closed tomorrow and I was forced to own just one company for 10 years, it would certainly be Washington H. Soul Pattinson and Co Ltd (ASX: SOL).

Washington Soul Pattinson or Soul Patts as it’s more easily known, is one of the oldest companies in Australia. It first opened its doors in 1903 but has a history that predates Federation.

Soul Patts started out as a chain of pharmacies. But today, it has grown to something quite different. In 2023, this company functions as a collective investment house. It owns large chunks of other ASX shares, as well as a portfolio of unlisted assets, that it manages on behalf of its investors.

So why do I like this company so much?

Why can’t I stop buying this ASX dividend share?

Well, there are a couple of reasons. Firstly, it is inherently diversified. Soul Patts’ other investments represent a broad cross-section of the Australian economy. It owns significant chunks of a handful of other ASX shares. These include Brickworks Limited (ASX: BKW), TPG Telecom Ltd (ASX: TPG) and New Hope Corporation Limited (ASX: NHC).

But it doesn’t stop there. Soul Patts also owns a huge portfolio of blue chip ASX shares as well, thanks to its acquisition of the listed investment company (LIC) Milton Corporation a few years ago.

But, as mentioned earlier, it also has various unlisted assets too. These include swim schools, citrus farms and industrial property. So an investment in Soul Patts is really an investment in this diversified portfolio of quality assets.

12.3% per annum?

But the primary reason I can never own enough shares of this company is its impressive and unrivalled performance history over an extremely long period of time. Soul Patts only reported its latest earnings last week.

These told us that, as of 31 January, the company has delivered a total shareholder return (share price growth plus dividends) of 12.3% per annum over the past 20 years.

Compare that against the All Ordinaries Accumulation Index’s return of 9.3% per annum over the same period, and we can see why this company is a winner. That works out to be a cumulative return of 921% for the 20 years to 31 January, against the All Ords’ 498%.

These returns include Soul Patts’ famous fully-franked dividends. This company is the only ASX dividend stock on the market that has given investors an annual dividend increase every year since 2000.

So given Soul Patts’ inherent diversification, plus its truly outstanding returns over a long period of time, I think this ASX dividend stock is a no-brainer for any investor today. It’s why I keep buying, and don’t plan on stopping.

The post Why I continue buying shares of this magnificent ASX dividend stock hand over fist appeared first on The Motley Fool Australia.

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• Passive income beasts: 3 ASX dividend shares I’d buy for retirement
• Looking to bag the bolstered Soul Patts dividend? Here’s what you need to know

Motley Fool contributor Sebastian Bowen has positions in 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 Australia has recommended Tpg Telecom. 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 shares of ASX lithium stock Loyal Lithium Ltd (ASX: LLI) are on ice today.

Loyal Lithium shares have soared 30% in the last week and were last trading at 32 cents apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) has climbed 1.19% in a week.

So what is going on with this ASX lithium stock?

What’s happening?

Loyal Lithium shares are frozen today at the company’s request. The company is exploring lithium in the James Bay District of Quebec and Sarcobatus Flat in Nevada, USA.

The lithium explorer requested voluntary suspension ahead of an announcement. Loyal Lithium said this relates to a “proposed transaction under listing rule 11.1”. It added:

This voluntary suspension will be in place until the Company has complied with the procedures outlined in section 2.10 of ASX Guidance Note 12 in relation to the proposed transaction.

Under listing rule 11.1, a company must provide full details to the ASX as soon as practicable if it plans to make a “significant change”.

Loyal Lithium shares shot up 52% yesterday from 21 cents to 32 cents. However, Loyal Lithium was not the only lithium share to rise.

ASX lithium shares skyrocketed amid news Liontown Resources Ltd (ASX: LTR) had received and rejected a takeover offer from lithium giant Albemarle Corp (NYSE: ALB). Albermarle has a market capitalisation of US$25.6 billion.

Meanwhile, on Monday, Loyal Lithium announced it had identified “multiple high value targets” at the Trieste Lithium Project in James Bay, Canada. Loyal Lithium acquired this project in October 2022.

Commenting on this news, managing director Adam Ritchie said:

The identification of high value targets at the eastern extension of the Trieste greenstone provides us with great confidence prior to our summer field program.

Share price snapshot

The Loyal Lithium share price has risen nearly 21% in the last year. However, in the past month, it has dropped 3%.

This ASX lithium stock has a market cap of about $19 billion based on the current share price.

The post Guess which ASX lithium stock has just been halted amid a ‘proposed transaction’ appeared first on The Motley Fool Australia.

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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 Appen Ltd (ASX: APX) share price is pushing higher on Wednesday.

At the time of writing, the ASX 300 artificial intelligence data services company’s shares are up almost 2% to $2.77.

This is despite the S&P ASX All Technology index dropping into the red today after a poor night for tech stocks on Wall Street.

Why is this ASX 300 tech share rising?

Investors have been buying this ASX 300 tech share on Wednesday after it announced further insider buying.

Insider buying is often seen as a bullish signal. That’s because nobody knows a company better than its management team and board of directors.

So, if they are investing their hard-earned money into the company’s shares, they must have confidence that its shares are worth more than the market’s current valuation of them.

And with the Appen share price down over 60% since this time last year, it seems that they believe this is the case with this ASX 300 share.

Who is buying Appen shares?

Last week, a change of director’s interest notice revealed that non-executive director, Stuart Davis, picked up 49,000 Appen shares through an on-market trade.

Davis paid an average of $2.53 per share, which equates to a total consideration of just under $124,000.

Hot on the heels of this purchase, the company revealed this morning that another director has been buying shares.

According to the notice, Ms Vanessa Liu bought 17,600 shares through an on-market trade on Monday. She paid an average of $2.73 per share, which equates to a total consideration of just over $48,000.

Time will tell if these are profitable investments for the directors. But with this ASX 300 share currently fetching $2.77, they are both in the black already.

The post This beaten-up ASX 300 tech share is down 60% in a year, and directors are buying it up 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 Appen. 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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Commonwealth Bank of Australia (ASX: CBA) shares are down 0.7% during trade on Tuesday.

For some context, the S&P/ASX 200 Financials Index (ASX: XFJ) is down 0.9% at this same time.

Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday trading for $96.06. CBA shares are currently changing hands for $95.43 apiece.

That’s the share price action.

Now here’s what’s happening with Australia’s small businesses.

What’s keeping small business owners awake at night?

According to new research, released by CBA this morning, 33% of Australia’s small businesses expect to see consumer demand slide. And the full impact of fast-rising business costs has yet to fully trickle through for many of the surveyed smaller companies.

Declining consumer demand amid high inflation is their top concern, at 36%. Meanwhile, 31% of respondents listed the increasing cost of business insurance as their primary concern, while 28% cited higher transportation and logistics costs.

But CBA reported that many small businesses, both private and ASX small-cap shares, are working to get ahead of the curve before any potential slowdown.

33% of small Aussie businesses have already cut spending on non-essentials. And 32% have adjusted their personal spending. 27% of respondents also said they’re now more disciplined around budgeting and expense tracking.

“While inflation is creating challenges for many small business owners, the sector remains focused on being prepared,” Mike Vacy-Lyle, CBA’s group executive, business banking, said.

“We’re seeing customers respond in pragmatic ways by making adjustments to their operations in response to an anticipated reduction in consumer demand,” he added.

The research showed that small business owners aren’t as worried about the fast-rising cost of living as consumers. But the share of owners expressing concerns has increased since CBA’s last survey in October.

How have CBA shares been tracking?

As you can see in the chart below, CBA shares have followed the benchmark index lower since February, leaving the share price down 6% in 2023.

The post Own CBA shares? Here’s the ASX 200 bank’s latest small business outlook appeared first on The Motley Fool Australia.

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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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