Global testing giant ALS Ltd (ASX: ALQ) delivered a solid set of first-half results this week, and brokers, including Macquarie, have a positive outlook on the company’s shares, which give exposure to increasing confidence in the minerals exploration sector.

The company this week reported a 13.3% increase in underlying revenue to $1.7 billion, while first-half net profit of $141.7 million was up 11.8%.

ALS chair Nigel Garrard said it was a solid result.

The group has delivered a strong first half result with organic revenue growth recorded across all business streams, resilient margins, and both underlying earnings and profit considerably up.

The company also boosted its interim dividend by about 3% to 19.4 cents per share.

Commodities sector strong

Managing director Malcom Deane said, despite “ongoing geopolitical and macro uncertainty”, there was strength in the company’s commodities division, while there was lower growth in the life sciences division.

Within commodities, the businesses delivered a strong performance, achieving 14.3% organic revenue growth supported by favourable market conditions. Growth was recorded across all regions. Within minerals, activity continues to be led by major and mid-tier miners, while improving funding conditions for junior explorers are contributing to higher quotation and early-stage project activity.

Mr Deane said the life sciences division’s performance was slightly below expectations despite a strong showing from the food sector.

ALS said it was also continuing to assess a number of merger and acquisition opportunities.

The company upgraded its revenue guidance to 6% to 8% growth, up from 5% to 7%, and said it was well on track to meet its FY27 targets, including growing revenue to $3.3 billion and growing underlying EBIT to $600 million.

Share price upside

The team at Macquarie ran the ruler over the results and said investors who were seeking leverage to the strong gold price by buying ALS would have liked what they saw.

The broker has an outperform rating on ALS shares and said, despite the strong performance already, there was more upside to be had.

Stock has had a strong run and multiple not cheap, but should be supported by ALS’s strong earnings per share growth profile which is above both market & global … peers. Calendar year 26 exploration budgets should trend positively and there’s potential for the juniors to co-join the senior-driven exploration recovery.

Macquarie has a 12-month price target of $22.85 on the shares, compared with Tuesday’s close of $21.12.

This price target was up from a previous target of $19.26. Bell Potter is even more bullish on the shares, with a price target of $25.   

The post Up 40% this year, Macquarie says this ASX 200 stock can still return double digits from here appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Bell Potter just upgraded its view on this ASX 200 stock
• ALS reports higher revenue, profit, and dividend for H1 FY26

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

The All Ordinaries Index (ASX: XAO) could well enjoy an upcoming boost from two ASX All Ords stocks brokers have tipped to deliver outsized gains.

Here’s how.

ASX All Ords stock on the growth path

The first stock that looks well-placed to surge higher is Intelligent Monitoring Group Ltd (ASX: IMB).

Shares in the security, monitoring and risk management services provider closed up 3.5% on Wednesday at 59 cents a share. That sees the Intelligent Monitoring share price up 13.5% in a year.

And according to the analysts at Canaccord Genuity, the ASX All Ords stock is well-placed to deliver earnings growth.

According to the broker:

In its 1Q26 result, IMB reported a 24% increase in its commercial installation pipeline to $45m, indicating strong demand from enterprise customers for security installation and upgrade work. Management noted continued growth in data centre related work as a strong feature and expects to release FY26 guidance in line with market expectations for the first time at its 10 Nov AGM.

Canaccord estimates that management will full year provide guidance for earnings before interest, taxes, depreciation and amortisation (EBITDA) of $48 million, up 25% from FY 2025 earnings.

Canaccord added:

Of note, cash on hand ended 1Q26 at $15.5m and increased to $16.2m as of 30 October despite the $4.2m acquisition payment for BNP securities during the month, reflecting a strong start to 2Q26 cash generation.

The broker said it views the ASX All Ords stock as undervalued at its current FY 2026 estimated EV/EBITDA multiple of 6 times.

Canaccord has a price target of $1.00 a share on Intelligent Monitoring. That represents more than a 69% upside from Wednesday’s closing price.

Which brings us to…

Also tipped to rocket

The second ASX All Ords stock that’s been tipped to rocket from current levels is Imricor Medical Systems Inc (ASX: IMR).

Shares in the human heart focused healthcare share closed down 0.7% on Wednesday, trading for $1.35 apiece. That sees the Imricor share price up an impressive 51.7% in a year.

And the analysts at Taylor Collison believe it’s set to outpace those gains in the year ahead following on the recent groundbreaking heart procedure using Imricor’s MRI compatible technology.

The broker noted:

Using Imricor’s suite of MRI-compatible products, Amsterdam University Medical Centre (AUMC) successfully performed the world’s first real-time MR-guided ischaemic ventricular tachycardia (VT) ablation in a patient with an implantable cardiac defibrillator (ICD)…

This represents a significant de-risking milestone for IMR and validates the clinical potential of MRI-guided electrophysiology (EP) procedures.

Taylor Collison added that this could help pave the way for US FDA approval in the year ahead.

Positive EU data from the VISABL-VT trial demonstrating safe and feasible transeptal crossings in VT patients both with and without ICD’s is a significant catalyst for off label VT use in the US after initial FDA approval for atrial flutter (potentially late 2026)

Connecting the dots, the broker has a price target of $2.26 on the ASX All Ords stock. That represents more than a 67% upside from Wednesday’s closing price.

The post Top brokers name 2 ASX All Ords stocks tipped to surge 67% and 69% 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 positions in and has recommended Intelligent Monitoring Group. The Motley Fool Australia has recommended Intelligent Monitoring Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

LGI Ltd (ASX: LGI) is an ASX small-cap stock that has had a strong run in 2025. 

The company is engaged in the recovery of biogas from landfills, and the subsequent conversion into renewable electricity and saleable environmental products.

The company operates at the convergence of the waste and clean energy sectors.

At the time of writing, this ASX small cap stock has risen 47.26% higher in 2025. 

Last month, the company announced a successful $50 million equity raise. 

According to the company, the funds raised from the Offer will be used for:

• Accelerated delivery of High Conviction Projects in Execution, including expansions at Mugga Lane, Belrose and Nowra sites
• Funding new High Conviction Projects in Development, which are the next wave of power station expansion and grid-scale battery opportunities identified
• Enhancing balance sheet flexibility, providing capacity to pursue new projects and tenders as they arise, while maintaining prudent leverage

The team at Morgans has looked upon this news favourably, raising their valuation on the ASX small cap stock. 

Capital raising bumps up guidance

The broker said in a note yesterday that LGI has completed a ~A$56m capital raising (A$51m placement; A$5m SPP) to strengthen the balance sheet (net cash ~A$24m), expand its targeted development pipeline (>80MW) and accelerate project delivery (completed within 3 years). 

Morgans said the extended pipeline (~28MW across six additional projects), will see LGI ~4x its ending FY25 MW under management, with a strong composition of high returning battery energy storage system (BESS) projects.

Subsequently, FY26 guidance has been reaffirmed for 25-30% growth.

The broker also materially improved forecasts (FY27-28F NPAT +17% and +24%), factoring in the development pipeline. 

We are encouraged by the acceleration of the group’s MW capacity build out and maintain our confidence in managements strong operational execution to deliver it on time and on budget. Strong forecast earnings growth (MorgansF ~26% EPS CAGR) and LGI’s pure-play renewable exposure justify the valuation premium.

Upgraded price target for this ASX small cap

Based on this guidance, Morgans has upgraded its target price to $4.84. 

This indicates an upside of 12.56% based on yesterday’s closing price of $4.30. 

Elsewhere, TradingView has a 12 month price target of $4.68. 

The post Morgans names ASX small-cap stock to buy after capital raise appeared first on The Motley Fool Australia.

More reading

• Up 40% this year, Macquarie says this ASX 200 stock can still return double digits from here
• Top brokers name 2 ASX All Ords stocks tipped to surge 67% and 69%
• I’d buy this ASX dividend stock in any market
• Has this high-flying ASX tech share run out of steam?
• Down 20% in a month, this ASX 200 stock is a buy according to Morgans

Motley Fool contributor Aaron Bell 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 LGI Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The ASX dividend stock Wesfarmers Ltd (ASX: WES) is one of the most appealing businesses out of the entire ASX, in my view.

Many readers may already know that Wesfarmers owns a variety of businesses in its portfolio including Bunnings, Kmart Group, Officeworks, healthcare businesses (including InstantScripts and Priceline), chemical, energy and fertiliser businesses (WesCEF) and an industrial and safety business.

This company already owns a number of leading companies, and there is a long list of reasons why Wesfarmers is so appealing. Let’s get into a few of the key aspects.

Excellent diversification

Wesfarmers can trace its history back over 100 years, and it has changed significantly during that time.

I think the ability to change its portfolio structure is one of the most appealing things about the business.

It used to own Coles Group Ltd (ASX: COL), a vehicle service business and coal mines. But, all of those have been divested.

The ASX dividend stock didn’t used to own lithium mining operations or have any exposure to healthcare businesses.

By having the flexibility to buy and sell businesses in different industries, it’s able to focus its company on areas of the economy that have attractive long-term prospects. I think this will enable the business to have a promising future for decades to come.

High-quality businesses

Wesfarmers is undoubtedly one of the highest-quality retailers on the ASX, and has the numbers prove it.

Impressively, the business reported an underlying return on equity (ROE) of 31.2% in the FY25 result. ROE tells investors how much profit the business earns compared to how much shareholder money it retains.

I think the ROE is really high, in my view, for a business that generates most of its earnings from the retail industry.

A ROE above 30% is a sign of high business quality. It also implies the business could generate a strong double-digit return on money retained and invested within the business.

As long as Kmart Group and Bunnings continue to find places to invest money to help grow profit, I think Wesfarmers’ net profit can continue rising.

The ASX dividend stock has a focus on shareholders

Over the years, I think Wesfarmers has proven to be very good at doing the right things for shareholders, such as ending Bunnings’ expansion in the UK or regularly returning excess capital to investors.

Pleasingly, in FY25, the business grew its full-year dividend per share by 4% to $2.06. That’s not bad considering inflation and high interest rates hurt household discretionary spending. The payout translates into a grossed-up dividend yield of 3.6%, including franking credits.

On top of that, the business announced a proposed capital management distribution of $1.50 per share. That’s not far off being as big as the annual dividend per share.

Overall, I think the business has a pleasing outlook and is an attractive option for investors wanting long-term ASX dividend stocks that can perform in all economic conditions.

The post I’d buy this ASX dividend stock in any market appeared first on The Motley Fool Australia.

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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 Wesfarmers. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The rally of ASX tech share Codan Ltd (ASX: CDA) this year has been spectacular. However, the share price has seen a strong pull-back in the last two weeks.

Codan has lost 15% of its value, after hitting a new all-time high of $36.92 early November. Wednesday was another loss-making day for the ASX tech share, when it closed at $29.44, almost 4% lower than the day before.   

Unique business profile

Codan is an Adelaide based global developer with a dual focus: communications and metal detection. This gives the technology company a unique profile. It’s not just a hardware tech player, but also a business with deep roots in both gold-driven markets and defence communications.

The communications division is now the growth engine of Codan. It designs and builds mission-critical communications equipment, drones and defence and public safety comms gear.  The shift toward defence communications means Codan is less exposed to the boom-bust cycles of gold prospecting.

Through its Minelab brand, acquired almost 20 years ago, Codan produces metal detectors used for everything from recreational prospecting to humanitarian demining and security.   

Gold rally inspired Codan’s dream-run

This ASX tech share has had a great run in 2025, up 83% in 2025, including a more than 20% lift in October. Codan delivered strong growth in FY25, with group revenue up 22%, EBIT expanding 28%, and net profit after tax (NPAT) rising 27%.

The communications segment was the standout performer, delivering 26% revenue growth and 34% profit growth. Looking ahead to FY26, management said that positive market conditions had continued into FY25, supporting Codan’s growth outlook.

CEO Alf Ianniello commented at last month’s AGM:

Elevated defence spending and ongoing geopolitical tensions continue to support demand across Codan’s Communications markets, with the business remaining on track to deliver 15 to 20% revenue growth for FY26.

Last month’s rally was mainly driven by the roaring gold price, which set a new all-time record above US$4,300 per ounce. Strong gold prices are helping spur demand for Minelab detectors, especially in regions like Africa.

Valuation concerns

The recent pullback looks largely driven by valuation concerns and investors cashing some of their gains.  Several analysts seem cautious that much of the gain in Codan’s share price is already baked in.

The majority of brokers is cautiously positive, but there’s no outright bullishness. Many analysts feel that the ASX tech share is now trading closer to fair value than earlier this month. The average 12-month price target forecasted by brokers is $32, implying a modest 8% upside from the current share price.    

The post Has this high-flying ASX tech share run out of steam? appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther 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.

James Hardie Industries plc (ASX: JHX) is an ASX 200 materials stock that has had a tough year. 

The company is a global leading producer and marketer of fibre cement building products. It is also a major supplier of fibre gypsum and cement-bonded boards in Europe.

This week, the company had two key announcements concerning its leadership.  

First, the appointment of Ryan Lada as the Company’s Chief Financial Officer, effective immediately. Mr. Lada succeeds Rachel Wilson, who has decided to step down after two years in her role.

Second, the appointment of Nigel Stein as Chair of the James Hardie Board of Directors. 

Despite the change in leadership, this ASX 200 stock continued to see its share price fall. 

In the last month, its share price is down almost 20%. 

This includes a drop of almost 4% yesterday. 

Its share price is down almost 52% in the last year. 

Time to buy low?

After falling significantly this past year, the team at Morgans seems to believe this ASX 200 stock now offers significant upside. 

In a note out of the broker yesterday, it said the 2QFY26 results were incrementally more positive than previously anticipated. 

Morgans said an upgraded guidance reflects a c.6% organic decline (vs pcp), as a challenging environment sees volume declines exceed price increases. 

However, this is better than feared and may prove to be a bottoming in the cycle as demand stabilises. 

JHX is trading on c.17.1x FY26F as the business navigates its acquisition missteps, earnings downgrades and a challenging consumer environment in North America (NA). However, at EPS of c.U$1.04/sh in FY26 we see upside from both earnings and an undemanding PER (ave PER. 20x).

Target price upside for this ASX 200 stock

Based on this guidance, the broker has a buy recommendation and $35.50 target price.

From yesterday’s closing price of $26.91, this indicates an upside of 31.92%. 

Morgans aren’t the only broker suggesting this ASX 200 stock is undervalued. 

Yesterday, the Motley Fool’s Samantha Menzies reported that Macquarie has upgraded its 12-month price target to $41.70 (previously $40.60). 

This indicates more than 50% upside. 

The post Down 20% in a month, this ASX 200 stock is a buy according to Morgans appeared first on The Motley Fool Australia.

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• James Hardie shares tipped to soar another 53%: Here’s why
• Here are the top 10 ASX 200 shares today
• Why James Hardie, Meteoric Resources, Pilbara Minerals, and SKS shares are rising today
• Why are James Hardie shares jumping 9% today?
• James Hardie Q2 FY26: Revenue rises 34%, profit hit by AZEK costs

Motley Fool contributor Aaron Bell 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.

As most ASX investors would be aware, the Australian stock market has had a rough couple of weeks. As it stands today, the S&P/ASX 200 Index (ASX: XJO) is now down by a hefty 7.2% or so since the last record high in late October. Some ASX stocks have fallen by less than that, others by more. Let’s talk about one ASX dividend stock that falls into the latter camp.

That ASX dividend stock is none other than Wesfarmers Ltd (ASX: WES).

Wesfarmers is well-known in the ASX investing community, given it is a large, blue chip stock that has been listed for decades. More broadly, though, Wesfarmers is less well-known. However, many of the underlying companies this conglomerate owns and runs are household names. These range from Target and OfficeWorks to Kmart and Bunnings, its two crown jewels.

But Wesfarmers owns far more than those four retailers. This company has its fingers in many a pie, ranging from mining and chemical manufacturing to gas distribution and pharmacies.

This inherent diversity makes Wesfarmers a compelling investment case on its own, given that an investor is buying into a healthy mix of different businesses that span different corners of the economy. But that diversification is just one of the reasons I consider this ASX dividend stock to be a magnificent buy-and-hold-for-decades investment.

Why this ASX dividend stock is a magnificent investment

Wesfarmers, although diversified, has proven itself to be a prudent and shareholder-focused steward of investors’ capital. It has always been prepared to throw money after its successes, whilst cutting its losses on ideas that are past their peak.

Its spinoff of Coles Group Ltd (ASX: COL) back in 2018 has been an unbridled success or shareholders, as has its acquisition of Priceline so far.

But it is the Wesfarmers share price that shines the brightest light on why this is a magnificent ASX dividend stock. Over the past ten years, Wesfarmers shares have grown by an average rate of approximately 8.34% per annum. And that’s including its recent 15% slump.

Including dividends, which Wesfarmers has steadily been increasing for years now, that return stretches to about 11.7% per annum, making this stock a bona fide market beater.

Speaking of share price slumps, Wesfarmers has indeed come off the boil in recent weeks. This ASX dividend stock has dropped from its October record high of $95.18 to just over $80 a share today. That’s a loss worth 15% or so.

With a price-to-earnings (P/E) ratio of 31.2, and a dividend yield of 2.56% today, it’s still hard to call Wesfarmers cheap. However, it is a lot cheaper than it has been. And besides, quality rarely comes cheap on the ASX.

The post 1 magnificent ASX dividend stock down 15% to buy and hold for decades appeared first on The Motley Fool Australia.

More reading

• Analysts name 3 of the best ASX dividend shares to buy
• Forget CBA shares! Buy these ASX dividend shares instead for passive income
• 5 things to watch on the ASX 200 on Monday
• How to make yearly passive income of $70,000 from ASX shares
• The 2 ASX dividend shares perfect for building a retirement around

Motley Fool contributor Sebastian Bowen has positions in Wesfarmers. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.