Long-term shareholders of Rio Tinto Limited (ASX: RIO) and the other big ASX 200 mining shares would likely tell you it’s a rollercoaster ride. But a really fun one.

Mining is a good place for ASX investors to be because Australia is a resource-rich country. We dig a lot of minerals out of the ground and countries all over the world want to buy from us.

We’re home to three of the biggest miners on the planet — namely BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG). These are massive, well-established and globally-renowned companies that provide great sleep-at-night comfort for long-term ASX investors.

The rollercoaster effect comes from commodity prices, which rise and fall depending on global demand.

The higher the price for commodities, the higher the profits for our big ASX 200 miners — and their share prices tend to follow suit.

So, it’s no surprise that when we look at the history of the Rio Tinto share price, we see two major spikes above the $100 mark. One occurred in 2008 during a peak in China’s industrialisation, and the other is occurring right now.

What is the highest ever Rio Tinto share price?

Rio Tinto was founded in 1873 and was listed on the ASX in 1970. Over five decades, it has grown into one of the biggest companies on the ASX with a market capitalisation of $39.69 billion.

According to company data, the highest closing share price Rio Tinto has achieved is $134.40. That was on 4 August last year. The highest price ever traded during a session is $137.33 on 29 July last year.

No points for guessing why.

Commodity boom creates Rio Tinto share price high

Commodity prices have skyrocketed in recent times as major western countries invest in massive infrastructure projects to restart their economies after the pandemic.

Infrastructure requires steel, and to make steel you need iron ore. And we’ve got the biggest ore reserves in the world. According to S&P Global, Australia was the global leader in iron ore production in 2021.

Magnifying demand for commodities is the move towards decarbonisation. A big range of minerals is now in hot demand as many countries seek to build renewable energy projects and make electric vehicles.

What happened in 2008?

The other big share price spike in Rio Tinto’s history happened in 2008. The highest it traded for then was $129.35, according to company data.

Many people would argue that China’s industrialisation and insatiable demand for iron ore was the only thing that saved us from recession during the global financial crisis.

Rio Tinto share price snapshot

The Rio Tinto share price is down 16% over the past 12 months but up 6.5% year to date.

The Rio Tinto share price closed today’s session down 0.65% to $106.23.

The post What was the highest Rio Tinto share price ever recorded? appeared first on The Motley Fool Australia.

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More reading

• Which ASX 200 mining share offers the best dividend yield for FY22?
• Here’s the Rio Tinto dividend forecast through to 2024
• Guess which sector is delivering the biggest gain across the ASX 200 today
• Why are ASX 200 mining shares having such a dire week?
• ASX 200 midday update: Pilbara Minerals’ lithium price update, BHP tumbles

Motley Fool contributor Bronwyn Allen 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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It wasn’t too long ago that we were all hearing about the ‘neobank’ and how it was going to disrupt the entrenched power of the famous big four ASX banks. The ASX banks, some more than a century old, could not compete with the lithe, disruptive new banks, unburdened by the creaking infrastructure and shaky reputations of the old bank shares. Or at least that’s what we heard.

Well, today, that rosy vision is in tatters. Neobank 36 400 was bought out by National Australia Bank Ltd (ASX: NAB) last year. Fellow neobank Xinja collapsed a few months later. And today, we’ve got the news that its neobanking peer Volt has also hit the wall.

This morning, Volt posted a statement on its website. Here’s some of what it said:

Volt Bank Limited (Volt) is closing its deposit taking business and intends to return its banking licence. Customers need to withdraw their funds from their Volt bank accounts before the 5th of July 2022

Volt has made the difficult decision to close its deposit taking business and has commenced the process of returning all deposits to its account holders… It is recommended that all customers stop using their accounts immediately.

Bank shares rise amid Volt closing its (digital) doors

So Volt has sparked out. Shorted. So how did the ASX bank shares react today? Well, the S&P/ASX 200 Index (ASX: XJO) closed down 0.64% today. But shares of the big four did a little better. Commonwealth Bank of Australia (ASX: CBA) also ended up down 0.58% at $93.00 a share. But it was the only member of the big four to record a loss.

Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares rose by 0.94% to $22.63. NAB closed up 1.01% at $28.07. And Westpac Banking Corp (ASX: WBC) shares lifted by 0.96% to  $19.94.

So it’s unclear whether the Volt news out this morning was alone responsible for saving the ASX 200 bank shares from the wider market’s falls today. But it is certainly likely to be a factor in the banks’ marked outperformance today. So Australia’s experiment with neobanks certainly seems to be at a low point. The major ASX banks aren’t called the big four for any old reason, it seems.

The post Volt gets packing as ASX 200 bank shares prove to be a formidable force appeared first on The Motley Fool Australia.

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• Own CBA shares? Here’s how the major bank’s bet on Klarna is holding up
• Here are the top 10 ASX shares today
• This is the latest ASX 200 sector to be hit by downgrades
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• In the green: Why the NAB share price is rising on Wednesday

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank Limited. 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 Westpac Banking Corporation. 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 Electro Optic Systems Holdings Ltd (ASX: EOS) share price came out of a trading halt to nosedive today.

Curiously, this followed the company’s successful institutional placement.

At market close, the defence contractor’s shares finished down 25.97% to a fresh multi-year low of $1.14.

What drove Electro Optic Systems shares lower?

The sinking of Electro Optic Systems shares appeared to be linked to investor concerns about the impending dilution of shares and the company’s latest trading update.

According to its announcement, Electro Optic Systems advised it has received binding commitments from new institutional investors to raise $15 million.

The placement will see around 12.5 million new ordinary shares created at an issue price of $1.20 apiece. This represents a 22.1% discount to Electro Optic Systems’ last closing price on 27 June.

Settlement of the shares is expected to occur on 4 July, with the share issue on or around the following day.

In addition, Electro Optic Systems announced a share purchase plan (SSP) to raise a further $2 million from eligible shareholders. The issue price is listed as the same offered in the placement.

The proceeds from both the placement and SPP will be used for working capital and near-term capital requirements of the business.

Furthermore, Electro Optic Systems revealed that its first-half revenue for FY22 has been impacted “beyond typical seasonal factors”.

The company said as well as delays with two contracts, the federal election in May had further impacted new projects.

While this is outside of management’s control, the company’s earnings before interest and tax (EBIT) is forecast to come in at a loss of roughly $45 million. About $15 million is related to the company’s space division, SpaceLink.

Nonetheless, Electro Optic Systems is predicting FY22 revenue will be equal to or exceed that of FY21.

As at 31 May 2022, the company had a cash balance of $26 million and outstanding debt of $35 million.

Electro Optic Systems share price snapshot

Over the past 12 months, Electro Optic Systems shares have continued to plummet by more than 70%.

Year to date, the company’s shares are down around 50%.

Electro Optic Systems commands a market capitalisation of roughly $175 million, with approximately 150.9 million shares on issue.

The post Here’s why the Electro Optic Systems share price collapsed 26% today appeared first on The Motley Fool Australia.

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• Why Carsales, EOS, Imugene, and Tyro shares are sinking today
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Motley Fool contributor Aaron Teboneras has positions in Electro Optic Systems Holdings Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia has recommended Electro Optic Systems Holdings 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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Owners of Commonwealth Bank of Australia (ASX: CBA) shares may want to know how much of a gain the big four ASX bank has made on its investment in buy now, pay later business Klarna.

Klarna isn’t a listed business. But, on the ASX there are plenty of other buy now, pay later operators that have seen a significant sell-off. For example, in 2022, the Zip Co Ltd (ASX: ZIP) share price has sunk around 90%. The Sezzle Inc (ASX: SZL) share price has dropped 91%. Even the Block Inc (ASX: SQ2) share price has dropped 46%.

Has the Klarna valuation been spared from the savage decline amid interest rate rises, elevated inflation, increased competition and the prospect of more regulation?

The answer seems to be no, according to the latest capital raising.

Klarna valuation sinks

According to reporting by the Australian Financial Review, Wall Street Journal sources indicate that Klarna’s latest capital raising has been reduced to US$500 million. That’s down from US$1 billion.

The valuation indicated by capital raisings is often how private technology businesses are valued.

Klarna is reportedly looking to raise the US$500 million at a total valuation of US$15 billion. A year ago, Klarna raised money from SoftBank at a huge valuation of US$46 billion. The Wall Street Journal reported in May that Klarna wanted to do the latest capital raising at a valuation of US$30 billion.

CBA owns a 5% stake of the business, which it bought for a total of US$300 million. That means the big four ASX bank’s holding is worth US$750 million – it has more than doubled its money.

But, it does mean that the business’ valuation has fallen by approximately two thirds over the past 12 months.

The AFR reported that Klarna has cut its number of staff by 10%. But the fact that it can get new customers for merchants is a positive, according to the CBA boss Matt Comyn.

However, with the stake worth US$750 million, it’s small fry compared to the overall Commonwealth Bank of Australia market capitalisation of $160 billion. In other words, the Klarna stake is worth $1.1 billion in Australian dollar terms. That equates to about 0.7% of CBA’s market cap.

For now, the lion’s share of CBA’s profit and valuation comes from its massive residential loan book. Commercial lending, credit cards and so on also form part of the earnings.

CBA share price snapshot

Over the last month, CBA shares are down 12.8% amid the Reserve Bank of Australia (RBA) push to reduce the rate of inflation in Australia.

The post Own CBA shares? Here’s how the major bank’s bet on Klarna is holding up appeared first on The Motley Fool Australia.

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• CBA share price leads the big four as banks outperform ASX 200 on Monday
• Why did the CBA share price underperform the other ASX 200 banks today?
• Should you ‘buy the dip’ in ASX 200 bank shares?
• What’s the outlook for ASX 200 bank dividends?
• Worried about a US recession? Here’s what the ASX 200 banks are forecasting

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 Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. 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 looking for an easy way to invest in international shares, then exchange traded funds (ETFs) could be the answer.

But which ETFs should you look at? Listed below are three excellent ETFs that could be worth getting better acquainted with in July. Here’s what you need to know about them:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The BetaShares Asia Technology Tigers ETF could be an ETF to buy in July. This fund provides investors with easy access to a number of the best tech shares in the Asian market. This means you’ll be owning a slice of well-known companies such as ecommerce giant Alibaba, search engine company Baidu, and WeChat owner Tencent.

In addition to those well-known giants, there are a number of companies included in the fund that are not as well-known to investors outside Asia. These include JD, Meituan Dianping, Netease, and Pinduoduo. And while regulatory issues in China and broad tech sector weakness have been weighing on these shares this year, this could have created a buying opportunity for long term focused investors.

BetaShares Global Cybersecurity ETF (ASX: HACK)

The BetaShares Global Cybersecurity ETF could be another ETF for investors to consider next month. This ETF gives investors exposure to the leading companies in the growing global cybersecurity sector. Given the increasing number of cyberattacks globally and how much infrastructure is now in the cloud, demand for cybersecurity services is expected to rise strongly in the future.

This bodes well for companies held in the fund. This includes Accenture, Cisco, Cloudflare, Crowdstrike, Okta, Palo Alto Networks, and Splunk.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

The VanEck Vectors Video Gaming and eSports ETF could be another ETF to buy in July. It gives investors exposure to a portfolio of the largest companies involved in video game development, hardware, and esports. These companies could be well-placed to benefit from the increasing popularity of video games and eSports. Particularly given that there are now 2.7 billion active gamers globally.

Among the growing companies that investors will be owning a slice of are Activision Blizzard, AMD, Electronic Arts, Nintendo, Nvidia, Roblox, and Take-Two.

The post 3 excellent ETFs for ASX investors to buy in July 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 BETA CYBER ETF UNITS. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended BetaShares Asia Technology Tigers ETF and VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. 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 200 Index (ASX: XJO) shares struggled on Wednesday as the index broke a four-session winning streak following suffering on Wall Street. The ASX 200 finished today’s session 0.94% lower at 6,700.20 points.

The S&P 500 fell 2.01% overnight while the Dow Jones Industrial Average slipped 1.56%. The Nasdaq Composite was hit hardest, falling 2.98%.

Likely in reaction, the S&P/ASX 200 Information Technology Index (ASX: XIJ) was one of the market’s worst performing sectors, only besting the S&P/ASX 200 Real Estate Index (ASX: XRE). They fell 2.6% and 3.3% respectively.

Meanwhile, news oil prices lifted more than 2% overnight likely helped bolster energy stocks. The S&P/ASX 200 Energy Index (ASX: XEJ) outperformed all its peers, gaining 0.5%. The S&P/ASX 200 Financials Index (ASX: XFJ) also ended in the green today.

Finally, the price of iron ore posted a 0.5% gain overnight to reach US$130.28 a tonne amid COVID-19 restrictions easing in China.  

After all that, the ASX shares that outperformed on Wednesday might come as a surprise. Let’s take a look.

Top 10 ASX shares countdown today

Of the 200 largest ASX shares by market capitalisation, Liontown Resources Limited (ASX: LTR) posted the biggest gain today.

The stock lifted on news the company will push forward with the Kathleen Valley lithium project following another major offtake agreement and a funding facility. Find out more about what’s been going on with Liontown here.

Star Entertainment Group Ltd (ASX: SGR) shares also made today’s top ten performers after the company announced that Robbie Cooke – Tyro Payments Ltd (ASX: TYR)’s current CEO – agreed to take on the top job at the casino operator. Check out the latest on Star here.

Today’s top 10 biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Liontown Resources Limited (ASX: LTR)	$1.125	5.63%
Skycity Entertainment Group Limited (ASX: SKC)	$2.85	3.52%
Star Entertainment Group Ltd (ASX: SGR)	$2.79	2.95%
New Hope Corporation Limited (ASX: NHC)	$3.65	2.82%
Aurizon Holdings Ltd (ASX: AZJ)	$3.885	2.78%
Metcash Limited (ASX: MTS)	$4.27	2.15%
Aristocrat Leisure Limited (ASX: ALL)	$35.19	2%
Viva Energy Group Ltd (ASX: VEA)	$2.935	1.91%
Whitehaven Coal Ltd (ASX: WHC)	$5.00	1.83%
Downer EDI Limited (ASX: DOW)	$5.21	1.76%

Data as at 3:59pm AEST

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

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• This is the latest ASX 200 sector to be hit by downgrades
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• Why Liontown, Metcash, Star, and Weebit Nano shares are charging higher
• In the green: Why the NAB share price is rising on Wednesday
• Here are 3 ASX financial shares going ex-dividend this week

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 Tyro Payments. The Motley Fool Australia has recommended Aurizon Holdings Limited and Tyro Payments. 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 Telstra Corporation Ltd (ASX: TLS) share price is having a subdued day on Wednesday.

In afternoon trade, the telco giant’s shares are down slightly to $3.91. This means the Telstra share price is now down almost 8% year to date.

In light of this, investors may be wondering if this has left the company’s shares trading at an attractive level for an investment.

Is the Telstra share price good value?

The good news is that a number of brokers see plenty of value in the Telstra share price at the current level.

One of those is Ord Minnett, which last week put a buy rating and $4.65 price target on the company’s shares. This implies potential upside of 19% over the next 12 months.

In addition, the broker is expecting Telstra to maintain its fully franked 16 cents per share dividend in FY 2022. This equates to a 4.1% yield, stretching the total potential return to a sizeable 23%.

Who else is positive?

Another recent broker note reveals that Morgan Stanley is feeling bullish on the Telstra share price. Its analysts currently have an overweight rating and $4.60 price target on the company’s shares.

Morgan Stanley believes that the very positive performance of T-Mobile in the United States is good news for Telstra. That’s because both companies are the 5G leaders in their respective markets.

In addition, the broker highlights that fixed wireless broadband is growing ahead of expectations in the US market. This could bode well for Telstra if the Australian market follows suit.

Finally, analysts at Morgans have an add rating and $4.56 price target on the company’s shares. Its analysts believe that “under the hood it’s looking good” for Telstra.

The post What are brokers saying about the Telstra share price? appeared first on The Motley Fool Australia.

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• Optus plea to ACCC doing little to these ASX 200 telco shares today
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• Could Telstra shares be set for a new ASX-listed competitor?
• ‘Just didn’t cut it’: Look out Telstra, a new high-speed start-up is coming for you!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation 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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Shares of Sayona Mining Ltd (ASX: SYA) are trading deep in the red today.

At the time of writing, the Sayona Mining share price is down more than 8% at 16 cents apiece.

Investors have pushed the share about today on a volume of 61.5 million shares, making it one of the most heavily traded on the ASX.

In wider market moves, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) is also down by more than 1.5% today.

What’s up with the Sayona Mining share price?

Today’s selling comes just one day after Sayona advised it has affirmed its plans to commence lithium spodumene production by 2023 in North America.

The announcement followed the formal agreement of the North American Lithium (NAL) restart program in Quebec, Canada.

Specifically, The Sayona Quebec Inc. board agreed to restart operations, noting the plant will require significant infrastructure upgrades.

Proposed upgrades are said to be in the realm of $110 million. It is owned 75% by Sayona and 25% by Piedmont Lithium Inc (ASX: PLL).

Piedmont released a statement today as well, adding further colour to the agreement.

The joy was short-lived, however. Investors have punished Sayona shares during Wednesday’s session giving back most of yesterday’s gains.

However, the basket of ASX lithium stocks has softened overnight, with the likes of Pilbara Minerals Ltd (ASX: PLS), Allkem Ltd (ASX: AKE) and IGO Ltd (ASX: IGO) each posting single-digit losses on Wednesday as well.

The weakness comes amid a June correction in various industrial metals, whilst lithium continues to trade sideways, as seen below.

In the last 12 months, Sayona Mining shares have held onto a 117% gain, as well as a 23% gain this year to date.

The post Why are Sayona Mining shares the most actively traded of the All Ords today? appeared first on The Motley Fool Australia.

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• Sayona share price surges 25% on lithium production plans
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• Sayona share price dives 8% despite lithium news
• Considering investing in Sayona shares? Here’s the latest news from the company

Motley Fool contributor Zach Bristow 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 Kogan.com Ltd (ASX: KGN) share price is having a tough day on the market today.

Kogan shares are currently trading at $2.92, a 2.5% fall. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 0.65% in late trade today.

However, that dip is nothing compared to the 7.3% drop Kogan shares experienced this morning.

So what is going on with the Kogan share price?

What’s going on with Kogan?

Kogan shares are falling today, but they are not alone in the sector. At the time of writing, online retailer Temple & Webster Group Ltd (ASX: TPW) is down 7.38%, while Redbubble Ltd (ASX: RBL) shares are falling 1.09%. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) is sliding 0.71%.

Despite positive retail data from the ABS, United States consumer confidence data appears to have weighed on ASX shares.

In June, US consumer confidence fell to a 16-month low, Reuters reported. The consumer confidence index dropped 4.5 points to 98.7 points.

Independent Advisor Alliance chief investment officer Chris Zaccarelli told the publication:

Right now we are at an inflection point in the economy, where actual spending and economic activity is still positive, however, consumer confidence and financial conditions, especially interest rates, are indicating a slowdown ahead.

However, retail data released by the Australian Bureau of Statistics (ABS) today paints a better picture. Total retail turnover rose 0.9% in May 2022 compared to the previous month, the figures show.

This was a 10.4% boost compared to May 2021. Household retailing rose 0.4%, department store spending jumped 5.1%, food retailing leapt 0.6%, and other retailing increased 1.5%. However, clothing, footwear and personal accessory retailing declined 1.4%.

Share price snapshot

Kogan shares have dived more than 77% over the past year. They have descended 67% year to date.

For perspective, the benchmark ASX 200 index has lost 8% in a year.

Kogan has a market capitalisation of around $312 million, based on the current share price.

The post Kogan shares slide 7% nearing a 52-week low appeared first on The Motley Fool Australia.

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More reading

• Why is the Kogan share price jumping 12%?
• Why is the Kogan share price soaring 6% on Monday?
• These are the 10 most shorted ASX shares
• Why the Adore Beauty share price is jumping but Kogan is falling
• This top broker thinks the Kogan share price has 35% upside

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 Kogan.com ltd. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. 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 Breville Group Ltd (ASX: BRG) share price has lost more than 40% of its value in 2020 so far. That compares with a 12% loss in the benchmark S&P/ASX 200 Index (ASX: XJO).

But over the past five days, the market has picked up. The ASX 200 is up 2.76% and Breville is up 5.02%. Which begs the question as to whether a turnaround is afoot for this iconic white goods business.

No one — not even the experts — can predict the top or bottom of a market cycle. No doubt, we’re in a market correction now, and when it will end is anyone’s guess.

At a minimum, you’d have to think that people will need to get comfortable with rising inflation and interest rates before the market settles.

But what we do know is that many high-quality, established businesses are trading on the ASX at substantial discounts today. And at a 40% loss, you’d have to count Breville shares among them.

What the experts think…

As my Fool colleague James reported last week, Morgan Stanley has retained its overweight rating on Breville but has cut its share price target to $25.

Morgans has an add rating and a share price target of $32. In a recent note, the broker said:

In our opinion, BRG deserves to trade at a premium multiple. It is positioned to deliver double-digit sales growth consistently over the next few years as it grows its market share, notably in geographies into which it has recently launched. Our rating remains ADD.

Goldman is also positive on the Breville share price. The broker names it among eight other ASX 200 shares that are trading “at significant discounts” today.

Breville is 90 years old but still growing

Breville has big international expansion plans underway, as outlined in a recent investor presentation.

Breville reckons it has “a long way to go” with “large, untapped opportunity” worldwide. In FY22, Breville opened in Norway, Finland, Denmark, and Sweden. It was due to open in South Korea this month and is opening in Poland next month.

After that, the business is headed to Germany, Austria, Switzerland, Spain, Portugal, France, Mexico, and Italy. Breville’s 100% acquisition of Italian coffee group LELIT is expected on Friday. Breville is paying 113 million euros for the company.

Maybe not out of the bargain bin yet?

Today isn’t turning out to be such a good day for the Breville share price. It’s down 4.21% to $18.43 while the ASX 200 is down 0.74% at the time of writing. So, perhaps it remains in the bargain bin for now.

The post Is the Breville share price out of the bargain bin? appeared first on The Motley Fool Australia.

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More reading

• 9 ASX 200 shares now trading at ‘significant discounts’: broker
• Experts have named these top growth shares as buys
• Top brokers name 3 ASX shares to buy today
• Top brokers name 3 ASX shares to buy next week
• Down 20% in a month, is the Breville share price a bargain buy or a falling knife?

Motley Fool contributor Bronwyn Allen 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. 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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