Shares in Melbana Energy Ltd (ASX:MAY) soared into the green today and finished 13% higher at 12.75 cents apiece. At one point, Melbana was trading as high as 14.74 cents during the session.

Investors are reacting positively after a company announcement regarding an update on its drilling operations in Cuba. Let’s take a closer look at what was released today.

Melbana is pushing ahead in Cuba

The company provided a drilling update on the Block 9 ‘production sharing contract’ area in onshore Cuba.

The Cuba Block 9 contract area covers 2,380km2 onshore on the north coast of Cuba. According to Melbana, it is located within “a proven hydrocarbon system and along trend with the multi-billion barrel Varadero oil field”.

Melbana advised it paused drilling on the 6-inch hole section when it encountered a “high-pressure zone resulting in an influx of hydrocarbons into the wellbore and subsequent strong oil shows on the shakers”.

As such drilling will now push ahead full steam as oil is being fed through the choke and mud degasser and then being flared.

“Drilling ahead will continue once the mud system has been weighted up to approximately 1.88sg – the weight necessary to maintain well control while drilling ahead”, the company noted.

Speaking on the announcement, Melbana Energy executive chair Andrew Purcell said:

This well continues to have plenty to say to us and we’re enjoying hearing it. This strong showing, once again, of energetic hydrocarbons gives our geoscientists more to think about when considering what this may mean for
our understanding of the subsurface and the resource potential of Block 9.

What else could be at play?

The results announced today build on momentum in the hydrocarbons sector as oil prices surge to multi-year highs.

Brent Crude futures – of which more than 90% of oil contracts are priced off – nearly touched US$131 per barrel on Wednesday as the supply shock from US-imposed sanctions on Russian oil ripple through commodity markets.

It has now risen around 93% in the past year and is up 43% in the past month. The momentum has been positive for Melbana with its share price climbing more than 100% at the same time.

In fact, the Melbana Energy share price and the price of oil and oil futures tends to move remarkably similar seeing as the company is a price taker, meaning its shares will fluctuate alongside volatility in commodities.

Melbana Energy share price snapshot

In the last 12 months, the Melbana share price has soared more than 526%, with a 490% gain this year to date.

In the last month alone, shares have more than doubled and are up 51% during the past week of trading.

The post ‘Plenty to say’ as Melbana Energy (ASX:MAY) races another 13% higher appeared first on The Motley Fool Australia.

More reading

• This ASX energy share is combatting its sector’s sell-off to hit 9-year highs
• Melbana (ASX:MAY) share price jumps 6% on exploration approval

The author Zach Bristow has no positions 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 Bruce Jackson.

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The WiseTech Global Ltd (ASX: WTC) share price was a strong performer on Wednesday.

The logistics solutions software company’s shares ended the day a sizeable 6% higher at $48.24.

Why did the WiseTech share price shoot higher on Wednesday?

There are a few potential reasons why the WiseTech share price is rising today. This includes a much needed rebound in the tech sector and a the release of a recent bullish broker note.

And while it is true that the company’s shares are due to trade ex-dividend in the coming days, it seems highly unlikely that investors would be scrambling to get hold of shares purely for a 4.75 cents per share interim dividend. After all, with the WiseTech share price trading at $48.24, this represents a paltry dividend yield of less than 0.1%.

In respect to the tech rebound, the S&P ASX All Technology index had a strong day and rose a sizeable 2.4%. This was more than twice the return of the benchmark ASX 200 index.

As for the broker note. Last week Morgan Stanley retained its overweight rating but lifted its price target on the WiseTech’s shares by a sizeable 43% to $50.00.

The broker was pleased with its first half performance and notes that management hinted that it could soon start making acquisitions again. Morgan Stanley estimates that WiseTech could have in the region of $1 billion to spend on bolt-on acquisitions.

The WiseTech share price is still down 19% in 2022 despite today’s gain.

The post Why did the WiseTech (ASX:WTC) share price jump 6% today? appeared first on The Motley Fool Australia.

More reading

• 3 beaten-up ASX tech shares that ‘tick all the boxes’: fundies
• Time is running out to lock in the WiseTech (ASX:WTC) dividend. Here’s why
• Glitch! Why are ASX tech shares getting hammered on Monday?
• Top brokers name 3 ASX shares to buy next week
• ASX tech shares have been smashed today as market hits 3-week low

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. owns and has recommended WiseTech Global. The Motley Fool Australia owns and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Today, the S&P/ASX 200 Index (ASX: XJO) reclaimed the 7,000 point level, bucking the trend set on Wall Street last night. At the end of the session, the benchmark index finished 1.04% higher at 7,053 points.

Aussie shares broke through the prevailing negative sentiment with widespread gains across the index on Wednesday. Tech and telco companies provided the biggest lift out of all the ASX sectors as a handful of names jumped more than 5%. In contrast, consumer staples posted a red day weighed down by supermarket giants.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Paladin Energy Ltd (ASX: PDN) was the biggest gainer today. Shares in the uranium producer climbed 10% following a broker note from Bell Potter revealing a speculative buy rating with a 96 cents price target. Find out more about Paladin Energy here.

The next biggest gaining ASX share today was Novonix Ltd (ASX: NVX). Shareholders of the battery technology company rejoiced in the strengthening share price despite there being no new announcements. The $2.48 billion company lifted 8.28% making it the best performing share in the tech sector. Uncover the latest Novonix details here.

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

ASX-listed company	Share price	Price change
Paladin Energy Ltd (ASX: PDN)	$0.77	10.00%
Novonix Ltd (ASX: NVX)	$5.10	8.28%
Allkem Ltd (ASX: AKE)	$9.86	7.17%
Telix Pharmaceuticals Ltd (ASX: TLX)	$4.96	7.13%
Chalice Mining Ltd (ASX: CHN)	$7.89	7.06%
Breville Group Ltd (ASX: BRG)	$26.22	6.37%
Wisetech Global Ltd (ASX: WTC)	$48.24	6.35%
Dicker Data Ltd (ASX: DDR)	$13.73	6.27%
Pilbara Minerals Ltd (ASX: PLS)	$2.84	5.97%
Liontown Resources Ltd (ASX: LTR)	$1.535	5.50%

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.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Wednesday
• ANZ has the largest ASX big four bank dividend yield right now. What?
• ASX 200 (ASX:XJO) midday update: Origin’s $250m buyback, Nickel Mines smashed
• The Coles (ASX:COL) dividend beats Woolworths. Does that make it a better income share?
• Why the ASX 200 could outperform the US market for the next 10 years: expert

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Dicker Data Limited and WiseTech Global. The Motley Fool Australia owns and has recommended Dicker Data Limited and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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A message from our CIO, Scott Phillips: 

“G’day Fools. If you’re like us, you’re dismayed by the events taking place in Ukraine. It is an unnecessary humanitarian tragedy. Times like these remind us that money is important, but other things are far more valuable. And yet the financial markets remain open, shares are trading, and our readers and members are looking to us for guidance. So, we’ll do our best to continue to serve you, while also hoping for a swift and peaceful end to war in Ukraine.” 

________________

It has now been 13 days since Russia instigated the largest military attack on a sovereign state in Europe since World War II. An unexpected consequence has been skyrocketing commodity prices.

Acting swiftly, much of the Western world applied sanctions on the invading country and its associated oligarchs — most of these being financial in nature.

However, with the United States considering a ban on Russian oil imports, commodity markets are wasting no time in getting ahead of more far-reaching sanctions.

The anticipation has led to bidding up and short-covering across several commodities that Russia deals in.

Commodity prices in focus as conflict continues

Unfortunately for the rest of the world, Russia constitutes a fair-sized chunk of production for numerous commodities. As a result, the looming possibility of sanctions on various commodity imports from Russia has markets expecting higher prices.

Simplistically, this is the supply and demand equation at work. If commodity traders believe supply might be impacted in some way — while demand holds steady — the price for the material must rise.

There are a few key examples of this that investors might have overlooked. Firstly, palladium — a commodity commonly used in catalytic converters — has increased 80% in value so far this year. According to reports, Russia accounts for around 40% of all palladium production.

Another ‘under-the-radar’ material that is getting caught up in all the turmoil is potash. The mineral compound is widely used in fertilisers. In addition, it can be found as a preservative in a number of drinks and food items.

Recently, the European Union slapped sanctions on the unsuspecting material. In turn, prices for the commodity have risen to record levels, potentially jeopardising food security. It is estimated that about 40% of potash comes is sourced from Russia and Belarus.

The last example of outlandish commodity prices is also the most shocking. Nickel, which has become a common battery material, has more than doubled its price in a matter of days.

To highlight the extreme move, the London Metal Exchange cancelled its nickel trading last night. This was in response to what looked like a spiralling short squeeze scenario.

How are ASX resource shares reacting?

Despite the record prices of many commodities, ASX resource shares are not performing as positively. Whether investors are perhaps viewing this as a short-term situation or thinking higher prices will come with higher costs; the market is not pushing the resource giants upwards.

For reference, here are the share price movements over the past 5 days for a handful of ASX mining shares at today’s market close:

• Nickel Mines Ltd (ASX: NIC) down 12.4%
• BHP Group Ltd (ASX: BHP) down 2.4%
• Rio Tinto Limited (ASX: RIO) down 5%
• Mineral Resources Limited (ASX: MIN) down 1.05%
• OZ Minerals Limited (ASX: OZL) down 1.85%

The post 3 under-the-radar commodity prices soaring since the Ukraine crisis appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Wednesday
• Here’s why the BHP (ASX:BHP) boss is still optimistic about China
• Why Aurelia Metals, Brambles, GQG, and Nickel Mines shares are falling
• Want the dividends from these 5 ASX shares? You’d better be quick!
• Why Argosy Minerals, Block, Core Lithium, and Mineral Resources are storming higher

Motley Fool contributor Mitchell Lawler 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 Bruce Jackson.

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Investing in the small side of the share market carries more risk than other areas. But if your risk tolerance allows for it, having a bit of exposure to this side of the market could be a boost for a balanced portfolio. This is due to the potential returns on offer from promising small caps.

With that in mind, here are three small cap ASX shares analysts rate highly:

Airtasker Ltd (ASX: ART)

The first small cap ASX share to consider is this growing online marketplace for local services. Management notes that the company has a huge market opportunity to grow into in the future. It estimates that it has a total addressable market of $600 billion across just Australia, the UK, and the US. The team at Morgans is very positive on Airtasker due to this significant market opportunity and its attractive business model. The broker notes that the company’s product works for both sides of the marketplace, has attractive unit dynamics with healthy gross and contribution margins, and is in a market that is in the early stages of ecommerce adoption.  Morgans has an add rating and $1.25 price target on the company’s shares.

Bigtincan Holdings Ltd (ASX: BTH)

Another small cap to watch is Bigtincan. It is a provider of enterprise mobility software that allows sales and service organisations to improve mobile worker productivity through smart devices. The company notes that global businesses including Nike, Guess, Prudential, and Starwood Hotels use its software to allow customer-facing teams to intelligently prepare, engage, measure and continually improve the experience of their customers. Morgan Stanley is a fan of Bigtincan and has an overweight rating and $2.10 price target on its shares.

PlaySide Studios Limited (ASX: PLY)

A final small cap ASX share to watch is PlaySide Studios. It is one of the largest video game developers in Australia. It has a growing portfolio of games, including ones developed in collaboration with studios such as Disney, Pixar, Warner Bros, and Nickelodeon. PlaySide has also recently announced work for hire deals with games publishing giants 2K Games and Activision Blizzard. This appears to demonstrate its growing reputation within the industry. Canaccord Genuity currently has a buy rating and $1.30 price target its shares.

The post 3 small cap ASX shares tipped for big things by analysts appeared first on The Motley Fool Australia.

More reading

• 2 compelling ASX shares expecting big growth this decade
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• 3 growing small cap ASX shares going places
• Top brokers name 3 ASX shares to buy next week
• 2 exciting ASX growth shares for March 2022

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. owns and has recommended BIGTINCAN FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker Limited. The Motley Fool Australia has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has had a pleasing day of gains this Wednesday after the sell-offs we saw earlier this week. At market close, the ASX 200 has risen by a healthy 1.04% to finish the day at 7,053 points.

But let’s dive deeper and take a glance at the ASX 200 shares that topped the market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume on Wednesday

South32 Ltd (ASX: S32)

Resources giant South32 is first up today. This ASX 200 diversified miner has had a sizeable 28.37 million shares change hands, though there hasn’t been much in the way of news out of the company.

The company trades ex-dividend tomorrow, so that might have been what influenced trading activities today. The South32 share price has lost 1.4% on Wednesday, closing trade at $4.94 a share.

Paladin Energy Ltd (ASX: PDN)

Paladin shares are next up today. A whopping 42.85 million Paladin shares have swapped owners at the close of trade. This is almost certainly due to the monster 10.71% jump Paladin shares enjoyed today.

As my Fool colleague James covered earlier, this could be related to some love from a broker that the company has just been the recipient of. A move like that can often result in a surge in trading volume, which appears to be what we’ve witnessed today.

Nickel Mines Ltd (ASX: NIC)

Nickel Mines was Wednesday’s most traded ASX 200 share on the market. Today has seen a whopping 55.27 million Nickel Mines shares bought and sold on the markets today. That’s despite Nickel Mines being in a trading halt for most of the day today.

However, that halt was sparked by a 22.7% plunge in Nickel Mines’ share price, which was probably the source of so many shares trading hands.

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

More reading

• Why Aurelia Metals, Brambles, GQG, and Nickel Mines shares are falling
• Want the dividends from these 5 ASX shares? You’d better be quick!
• Nickel Mines (ASX:NIC) share price plummets 22% as nickel prices go crazy
• ANZ has the largest ASX big four bank dividend yield right now. What?
• ASX 200 (ASX:XJO) midday update: Origin’s $250m buyback, Nickel Mines smashed

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 Bruce Jackson.

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ASX travel shares pushed ahead today despite fears of escalating fuel costs.

Four ASX travel shares that climbed were Qantas Airways Limited (ASX: QAN), Flight Centre Travel Group Ltd (ASX: FLT), Webjet Ltd (ASX: WEB), and Corporate Travel Management Ltd (ASX: CTD).

Let’s take a look at what might have given these Australian travel shares a boost today.

Why are ASX travel shares climbing today?

ASX travel shares had a day in the sun today despite fears fuel prices will continue to spiral amid the Russian invasion of Ukraine.

The Qantas share price closed 3.32% higher today and Flight Centre climbed 3.08%. Further, Webjet gained 3.5% and Corporate Travel finished up 3.42%.

One bright spot that may have helped ASX travel shares is news India will restart international flights on 27 March.

Qantas is tapping into Australia’s huge Indian community and trade and investment market, Bloomberg reported. The airline is flying directly from Sydney and Melbourne to Delhi.

ASX travel shares have broadly followed the footsteps of United States airline shares. In the US on Tuesday, American Airlines Group (NASDAQ: AAL) surged 5%, United Airlines Holdings (NASDAQ: UAL) jumped 3% and Delta Air Lines Inc (NYSE: DAL) finished nearly 4% ahead.

Meanwhile, Flight Centre CEO Graham ‘Skroo’ Turner predicts the corporate travel recovery from COVID-19 may take a few years. As quoted in the Australian Financial Review, he said:

Within a couple of years, business travel globally will get somewhere close to 80 per cent or 90 per cent. It won’t get back to pre-COVID levels straight away in the next few years.

Business travel never got back to the same level as pre-GFC, so I think this will have the same impact.

Share price recap

The Qantas share price has slid around 9% in the past year, Flight Centre has remained steady, dropping less than 1%, while Webjet has also dropped 9%. In contrast, Corporate Travel Management has managed a 3% climb in the past 12 months.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned about 4% in the past year.

The post ASX travel shares rebound despite rising oil prices appeared first on The Motley Fool Australia.

More reading

• Can the Webjet (ASX:WEB) share price recover to reach its 2022 highs?
• Own Qantas (ASX:QAN) shares? This may be the airline’s next CEO
• 4 ASX shares we’re holding for both reopening and higher interest rates: expert
• Qantas (ASX:QAN) shares have slumped 17% in a month. So how is the airliner responding to rising oil prices?
• Why this broker thinks the Flight Centre (ASX:FLT) share price is great value

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 Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Plenty of ASX healthcare shares fell to 52-week lows today. The industry has not been immune to the ASX share market selloff.

There is ongoing volatility with investors keeping an on the Russian conflict with Ukraine, the sanctions and the ongoing inflation environment.

It has been a rough time for plenty of sectors, including healthcare:

Ramsay Health Care Limited (ASX: RHC)

The Ramsay Health Care share price fell to $59.85 earlier today. It’s currently down by 0.5% to $60.30.

The business is a private hospital operator. The Ramsay Health Care share price has seen a drop of 16% since the start of the year.

Ramsay recently reported in the first half of FY22 that revenue grew by 1.2% but statutory net profit after tax (NPAT) was down by 29.7% to $158.9 million.

AVITA Medical Inc (ASX: AVH)

The AVITA share price fell to $2.37 earlier today. At the time of writing it is down just over 2%.

The medical technology business provides the RECELL system. The AVITA share price has seen a decline by around 30% since the start of 2022.

The ASX healthcare share recently reported a 37% increase in revenue to $14 million, whilst the net loss decreased 9% to $14.4 million.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price fell to $0.80 earlier today. Currently, it is down 1.2%.

The pharmaceutical business is engaged in the research, development, and commercialisation of dendrimer products. The Starpharma share price has fallen by around 37% since the beginning of the calendar year.

Volpara Health Technologies Ltd (ASX: VHT)

The Volpara share price has hit a low of $0.66, representing a decline of almost 3%.

Volpara is an ASX healthcare share, which provides practice software as well as tools for breast screening and analysing those images. The Volpara share price has fallen by more than 36% since the start of the year.

The company has been reporting quarterly growth for a number of quarters.

It recently revealed that in the three months to 31 December 2021, cash receipts had grown by 50% year on year to NZ$7 million.

In that quarterly update, it said that annual recurring revenue (ARR) had now reached around US$21.5 million, or NZ$30.4 million in New Zealand dollar terms. This was up almost US$1.1 million over three months.

The ASX healthcare share’s market share has now reached 35% of US women being screened, up from 34% in the prior quarter.

Volpara also said that the average revenue (ARPU) over the installed base of users was US$1.47 at the end of its third quarter, with average ARPU for deals in the third quarter of US$1.65, ranging from US$1.05 to US$6.68.

The post 4 ASX healthcare shares at 52-week lows appeared first on The Motley Fool Australia.

More reading

• 3 promising small cap ASX shares to watch
• Here’s why the Starpharma (ASX:SPL) share price is tumbling 8% today
• Avita Medical (ASX:AVH) share price soars 23% as earnings stage a comeback
• Starpharma (ASX:SPL) share price lifts on Omicron study results
• Down over 30% in 2022: 2 compelling ASX tech shares

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. owns and has recommended Avita Medical Limited, Starpharma Holdings Limited, and VOLPARA FPO NZ. The Motley Fool Australia owns and has recommended VOLPARA FPO NZ. The Motley Fool Australia has recommended Avita Medical Limited, Ramsay Health Care Limited, and Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Exchange traded funds (ETFs) continue to grow in popularity with investors and it isn’t hard to see why.

ETFs allow investors to gain exposure to sectors, themes, markets, and entire countries through a single investment. This means an investor can home in on certain areas of the investment world that they’re particularly bullish on.

But which ETFs could be good options for investors? Listed below are three popular ETFs to research further:

BetaShares Cloud Computing ETF (ASX: CLDD)

The first ETF to look at is the BetaShares Cloud Computing ETF. This ETF gives investors exposure to leading global companies involved in the delivery of computing services, servers, storage, databases, networking, software, analytics and other services over the internet or cloud. Through this ETF, you’ll be buying a slice of companies such as Dropbox, Netflix, Shopify, and Zoom.

Betashares Global Sustainability Leaders ETF (ASX: ETHI)

Another ETF for ASX investors to research further is the Betashares Global Sustainability Leaders ETF. This popular ETF allows investors to buy a slice of large global stocks that have been identified as climate leaders. This could make it a top option if you’re wanting to invest ethically. Betashares notes that the fund excludes companies that have direct or significant exposure to fossil fuels or those engaged in activities deemed inconsistent with responsible investment considerations. Among the shares included in the fund are giants such as Apple, Nvidia, Toyota, and Visa.

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

A final ETF for ASX investors to look at is the VanEck Vectors Video Gaming and eSports ETF. As its name implies, this ETF gives investors exposure to the booming video games market which VanEck notes comprises 2.7 billion active gamers globally. This is more than Netflix subscriptions and active Apple devices. Among the companies you’ll be buying a slice of are Activision Blizzard, AMD, Electronic Arts, Nintendo, Nvidia, Roblox, and Take-Two. VanEck points out that these companies are well-placed to benefit from the increasing popularity of video games and eSports.

The post 3 popular ETFs for ASX investors to check out appeared first on The Motley Fool Australia.

More reading

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• 3 excellent ETFs for ASX investors to look at in March
• Are these 2 leading ETFs great buys in March 2022?
• 2 popular ETFs you need to know
• 3 fantastic ETFs for ASX investors 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended 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 Bruce Jackson.

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Shares in National Australia Bank Ltd. (ASX: NAB) are heading north today to sit marginally higher on the day at $28.95 apiece.

Whilst many of the ASX banking majors are suffering losses in 2022, NAB has held the fort and is sitting less than 1% in the green. It has traded relatively sideways with wide volatility since October, as shown below.

Analysts at JP Morgan are bullish on the bank and reckon it will outstrip its peers on the chart for the remainder of FY22 at least.

Here are the details.

NAB to shine in 2022?

JP Morgan analysts were pleased with NAB’s latest results and note that the bank achieved the most impressive result in 1Q22 compared to the other big 4.

“Pleasingly NAB delivered the strongest top-line growth in 1Q22 (5% growth on 2H21 quarterly avg) on above-system lending growth and underlying [net interest margin] NIM down only 2 basis points”, the broker said.

“While we don’t expect this pace to persist, the result reflects not only less exposure to mortgages, but sound execution across housing, SME & Insto”.

In fact, the quarter was one of the strongest in NAB’s history and the broker says this was assisted by strong credit growth both in Australia and New Zealand.

Analysts at the firm also estimated that markets and treasury (M&T) revenue increased to $430 million, a 48% gain versus the entire 2H FY21 quarterly average.

With respect to credit growth, the broker reckons growth trends are set to continue here, particularly when examining on a peer-to-peer basis.

“We see little evidence to suggest it cannot sustain this momentum, especially in the non-housing segment, where has a peer-leading SME franchise”, it remarked with respect to credit growth.

Aside from that, JP Morgan was happy with NAB’s customer metrics and reckons it is well-positioned to capitalise on any hike to base interest rates in the coming months.

The broker sets a price target of $33.50 per share, meaning investors will realise a 16% upside at the current market price should this thesis come true.

NAB share price snapshot

In the last 12 months, the NAB share price has held gains. It is up more than 8% after climbing less than 1% into the green since trading recommenced on 4 January.

During the past month of trading, shares have gained 4%, indicating the bullish momentum behind the bank.

The post Own NAB (ASX:NAB) shares? Here’s why the bank is this brokers top pick appeared first on The Motley Fool Australia.

More reading

• ANZ has the largest ASX big four bank dividend yield right now. What?
• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
• Top broker says NAB (ASX:NAB) share price has 20% upside. Here’s why
• The NAB (ASX:NAB) share price has only gained $3 in 12 years. Have the dividends been worth it?
• Why brokers rate these ASX 200 dividend shares as buys

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 Bruce Jackson.

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