The S&P/ASX 200 Index (ASX: XJO) has returned from the long weekend in fine form. In afternoon trade, the benchmark index is up 1% to 7,496.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down over 2% to $84.66. Investors have been selling the buy now pay later provider’s shares in response to yet another pullback in the Block (Square) share price overnight. Afterpay shareholders recently voted in favour of Block’s all-scrip takeover proposal.

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is down 1.5% to $21.98. This decline appears to have been driven by concerns that the rising cases of the Omicron variant of COVID-19 could derail the travel market recovery. The UK and France recently reported record daily infections of 130,000 and 180,000, respectively.

Dicker Data Ltd (ASX: DDR)

The Dicker Data share price is down 2% to $14.61. This may have been driven by confirmation that its founder and Chair, David Dicker, has transferred 48 million shares into a personal associated entity, Rodin Ventures, of which he is a director. The company advised that the transaction is an internal transfer by Mr Dicker to an associated entity for commercial, estate and charitable purposes. No shares have been sold at this point.

Synlait Milk Ltd (ASX: SM1)

The Synlait Milk share price is down 4.5% to $3.25. This is despite there being no news out of the dairy processor. This latest decline means Synlait’s shares are now down 35% in 2021. The team at Bell Potter appear to see this as a buying opportunity. The broker recently named the company as one of its top picks for 2022.

The post Why Afterpay, Corporate Travel, Dicker Data, and Synlait shares are falling appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again
• Why the Afterpay (ASX:APT) share price has tanked 20% in December
• ASX travel shares in focus on global flight cancellations
• Why has the Afterpay (ASX:APT) share price gained 5% this week?
• ASX 200 (ASX:XJO) midday update: AMP shoots higher, travel shares rise

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 Afterpay Limited and Dicker Data Limited. The Motley Fool Australia owns and has recommended Afterpay Limited and Dicker Data Limited. The Motley Fool Australia has recommended Corporate Travel Management 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up over 1% to 7,498.4points.

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

Magnis Energy Technologies Ltd (ASX: MNS)

The Magnis Energy share price is up 15% to 52 cents. Investors have been buying the battery technology company’s shares after it announced a milestone achievement for its 60%-owned New York lithium-ion battery plant. According to the release, semi-automated production has commenced at the iM3NY Battery Plant and is expected to scale up to 1.8 GWh during the first half of 2022. This will make it one of the largest players in the United States lithium-ion battery cell manufacturing market.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 4.5% to $3.09. Investors have been buying lithium shares on Wednesday amid optimism that prices of the battery making ingredient will stay higher for longer. Before Christmas, analysts at Macquarie suggested lithium prices could remain at record levels for four years.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price is up 4% to $1.70 following the release of further details on its deal with Tesla. Syrah revealed that, subject to certain conditions, Tesla will offtake 8kt per annum of the proposed initial expansion of AAM production capacity at its Vidalia facility in the USA. This compares to the initial planned production capacity of 10kt per annum.

Whispir Ltd (ASX: WSP)

The Whispir share price is up 7% to $2.05. This morning the communications workflow platform provider announced a multi-year contract with global telecommunications leader and Optus parent, Singtel. According to the release, the contract has a minimum value of SG$1.3 million (A$1.32 million) for professional services and software licence fees. In addition, transactional usage fee revenue will be generated, representing revenue upside.

The post Why Magnis, Pilbara Minerals, Syrah, and Whispir shares are storming higher appeared first on The Motley Fool Australia.

More reading

• Is this ASX sector gearing up for a year of M&A activity?
• ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again
• Pilbara Minerals (ASX:PLS) share price surges 6% to hit new record high
• Here’s why the Magnis (ASX:MNS) share price is powering ahead today
• Why is the Whispir (ASX:WSP) share price shooting 8% higher?

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 Whispir Ltd. The Motley Fool Australia has recommended Whispir 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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ASX lithium shares might be in for a roaring 2022, with experts predicting the sector could be a major merger and acquisition target.

Reports of the lithium market’s outlook might have buoyed sentiment in the resource’s producers today.

The Pilbara Minerals Ltd (ASX: PLS) share price is currently surging 5%. Meanwhile, that of Rio Tinto Limited (ASX: RIO) and Mineral Resources Limited (ASX: MIN) are up 0.2% and 1.6% respectively.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 0.99% at the time of writing.

Let’s take a look at what the experts are expecting from the ASX lithium sector and the shares that call it home, in 2022.

What might be in store for ASX lithium shares in 2022?

According to recent reporting by The Australian, 2022 could bring movement for the lithium space. Particularly, as Chinese companies are predicted to be vying for control over mines.

Companies based in China are reportedly turning their attention to international lithium resources to continue supplying the nation’s battery industry.

Additionally, the publication claims Canaccord Genuity analyst Timothy Hoff told clients that large miners are “finally taking notice of what is happening in the lithium market”.

The statement follows last week’s news that ASX giant Rio Tinto is undergoing the $1.15 billion acquisition of an Argentinian lithium project. The purchase is expected to go ahead in the first half of 2022.

Meanwhile, the company is continuing to face challenges at its $3.3 billion Jadar project.

The Australian also quoted Barrenjoey mining analyst Glynn Lawcock. Lawcock reportedly believes Rio Tinto might be on the lookout for more lithium assets in the near future.

It comes only weeks after S&P Global Platts quoted a spokesperson from China-based, Tianqi Lithium Corp as saying:

Due to its strategic significance, lithium resources will [become] more difficult to obtain and control. Therefore, lithium resources will become a key factor restricting the development of the industry in the medium- and long-term.

It also reported that many lithium producers are pushing to expand their production to keep up with burgeoning demand. Interestingly, Mineral Resources and Pilbara Minerals are doing just that.

The former is planning to restart its 40%-owned MARBL joint venture in 2022. At the same time, the latter is aiming to restart its Ngungaju plant.

Last week, my Foolish colleague James Mickleboro reported that Macquarie Group Ltd (ASX: MQG) analysts are predicting lithium prices will continue to strengthen in 2022. Additionally, they predict prices will stay high over the coming 4 years.

It likely goes without saying that all eyes will be on the ASX lithium sector in the new year. Particularly, as many of its participants already enjoyed a generally fruitful 2021.

The post Is this ASX sector gearing up for a year of M&A activity? appeared first on The Motley Fool Australia.

More reading

• Why Magnis, Pilbara Minerals, Syrah, and Whispir shares are storming higher
• ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again
• Pilbara Minerals (ASX:PLS) share price surges 6% to hit new record high
• 5 things to watch on the ASX 200 on Wednesday
• 2 buy-rated ASX dividend shares

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group 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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If you’re a fan of buy and hold investing, then you may want to look at the “champion” ASX shares listed below.

These are three of Bell Potter’s favourite picks for long term-focused investors that it believes could drive superior earnings growth and shareholder value over the coming years.

Its analysts believe these champion shares are must haves for ASX portfolios. Here’s why:

Amcor CDI (ASX: AMC)

The first champion ASX share is this packaging giant. The broker believes it is well-placed for growth over the long term following its major acquisition of Bemis in 2019.

Bell Potter explained: “After the acquisition of Bemis Company, the combined group is the global leader in consumer packaging with a footprint encompassing North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. The group offers an attractive combination of defensive earnings in the developed countries with faster growth in emerging markets, which accounted for 26% of group sales in fiscal 2021.”

CSL Limited (ASX: CSL)

Another champion stock is CSL. Bell Potter is bullish on this biotherapeutics giant’s future thanks partly to its world class portfolio of products, the positive outlook for plasma volume growth, and its burgeoning research and development pipeline.

Bell Potter commented: “A leading global company in the development, manufacture, and distribution of plasma therapies as well as non-plasma biotherapeutic products and influenza related products. The global growth in plasma volumes is expected to be around a solid 8% per annum for the foreseeable future and, in addition, the group is planning to launch new products from its very extensive Research and Development portfolio.”

It is also worth noting that since the release of this note, the company has acquired Vifor Pharma for US$17 billion. This deal both strengthens and complements CSL’s existing product portfolio and is expected to be earnings accretive.

Goodman Group (ASX: GMG)

This property giant is another that Bell Potter has among its champions. Its analysts believe Goodman’s exposure to industrial and logistics properties will support its growth over the long term.

Its analysts commented: “One of the world’s largest integrated industrial property groups with operations centred around development, management and ownership throughout Australia, New Zealand, Asia, Europe, United Kingdom, North America, and Brazil. The long term outlook for industrial and logistics properties is favourable given the continuing growth in ecommerce (or on-line retail sales) and the growing middle class in developing countries.”

The post Analysts name 3 ‘must have’ ASX shares for buy and hold investors appeared first on The Motley Fool Australia.

More reading

• 3 ASX biotech shares rated as buys in 2022
• Top broker tips CSL (ASX:CSL) share price to climb to $340
• 5 things to watch on the ASX 200 on Wednesday
• 3 five-star ASX shares to buy in 2022
• Where are CSL (ASX:CSL) shares headed in 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 CSL Ltd. The Motley Fool Australia owns and has recommended Amcor 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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The Bank of Queensland Limited (ASX: BOQ) share price has risen by around 7.5% in December 2021 so far.

This banking business is a lot larger after acquiring the ME Bank business earlier in the year.

What’s going on in December 2021 for the BOQ share price?

The regional bank provided an update for investors earlier this month when it held its annual general meeting (AGM).

BOQ said that its FY22 guidance is still at least 2% positive jaws. That is a comparison between the bank’s income and expenses.

It also said that its growth momentum has continued in the first quarter of its FY22, with “strong” application volumes across both the housing and business lending portfolios.

The BOQ, Virgin Money Australia and BOQ Specialist housing portfolio increased by around $1 billion for the quarter, continuing market-beating growth. ME Bank returned to growth for the month of November 2021, with application volumes in the first quarter up 62% compared to the FY21 average.

Business banking lending grew by around $200 million in the first quarter of FY22. BOQ said the asset finance business is also performing “well”.

Management said that the growth in retail and business remains disciplined and high-quality, with low levels of home loans that have a loan to value ratio of more than 90%. There is a focus on small and medium enterprises (SMEs) in the business bank.

Net interest margin (NIM) difficulties

Whilst BOQ is expecting positive jaws, it highlighted that the industry is experiencing NIM headwinds as a result of tougher trading conditions, including yield curve volatility that happened after the Reserve Bank of Australia (RBA) removed its yield curve control.

Other impacts include intense price competition, increased fixed rate lending and higher liquid asset balances. BOQ noted that this will result in a slightly lower FY22 NIM than previously guided.

Cost focus

BOQ says that FY22 expenses are now expected to be around 1% lower than FY21, reflecting additional productivity benefits. More of the cost cuts will be realised in the second half.

The ME Bank integration program remains on track, with approximately $23 million of full year synergies delivered in the first quarter of FY22 thanks to operating model changes, consolidation of the investment roadmaps and early supply chain benefits.

Is the BOQ share price still an opportunity?

Brokers at Macquarie Group Ltd (ASX: MQG) certainly think so. It rates BOQ shares as a buy with a price target of $10 – that’s approximately 20% higher than where it is right now.

Macquarie thinks that BOQ has a better outlook compared to its banking competitors.

On Macquarie’s numbers, the bank is valued at 11x FY22’s estimated earnings with a projected grossed-up dividend yield of 8%.

The post Why is December being so kind to Bank of Queensland (ASX:BOQ) shares? appeared first on The Motley Fool Australia.

More reading

• Own Bank of Queensland (ASX:BOQ) shares? Here are the key dates to watch in 2022
• Are Bank of Queensland (ASX:BOQ) shares a better buy for 2022 than Bendigo Bank?
• What’s on the cards for the Bank of Queensland (ASX:BOQ) share price in 2022?
• Goldman Sachs names 2 ASX 200 shares to buy
• Bank of Queensland (ASX:BOQ) shares: $8 one day, $10 the next?

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group 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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Shares in online classifieds giant Carsales.com Ltd (ASX: CAR) are rangebound today and are now trading 0.4% lower at $25.21.

It’s been a volatile 3 months for Carsales shareholders, with prices closing as high as $26.44 and trading as low as $24.15 in that time.

Over a longer time frame, Carsales has been trading sideways since late August after scoring relatively healthy gains mid-year.

Fear surrounding the new Omicron COVID-19 variant hasn’t been kind to shares of specialist platforms such as Carsales. With uncertainties clouding visibility moving forward, it’s worth checking what the experts are saying.

So, is it a buy? Let’s take a look and find out.

What’s UBS saying about the Carsales share price?

UBS is bullish on the company and rates it as a buy amid the current market mechanics. The broker reckons that Carsales can grow its domestic dealer revenue by an average of 8.5% into FY26.

It says Carsales offers vendors and dealers a unique value proposition that ensures modest price increases can be maintained.

In view of the speculation surrounding inflation and price increases over the coming years, this kind of pricing power is important, UBS says.

Meanwhile, the broker also likes Carsales’ recent retailing and financing initiatives, which it feels could add another 3-5% to revenue growth over the next five years.

Not only that, but UBS is also optimistic about the classifieds company’s growth trajectory into South Korea. It bakes in similar projections for its revenue performance there.

With these points in mind, the broker upgraded its price target on the stock in a recent note to clients, lifting its valuation by 6% to $27 per share.

What’s the sentiment on the Carsales share price?

However, UBS might be one of a few contrarians covering Carsales. From a list of analysts provided by Bloomberg Intelligence, just 25% advocate buying shares in the company right now, whereas 25% have it as a sell.

The remaining 50% have it as a hold or retain a neutral stance on the direction of the Carsales share price. Jefferies is most bullish on the outlook for investors, valuing the company at $30.08 per share.

Evans and Partners, alongside Barrenjoey Markets, also has Carsales as a buy with $30.40 and $30 price targets respectively.

However, the price targets vary more than $9 per share, indicating a 43% spread in opinion on the valuation of Carsales share price.

Even still, the consensus price target on the company is $26.37, indicating an upside potential of more than 4% at the time of writing.

Carsales share price summary

Year to date, the Carsales share price has climbed around 28%. Although it fell sharply earlier in December, it now trades up 1.41% for the month.

Over the longer term, the company’s shares have outpaced the S&P/ASX 200 Index (ASX: XJO) benchmark which has gained just under 14% year to date.

The post What’s UBS saying on the Carsales (ASX:CAR) share price? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy next week
• Why Carsales, Magellan, Nickel Mines, and Sigma shares are dropping

The author 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 recommended carsales.com 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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It has been another spectacular day for the AVZ Minerals Ltd (ASX: AVZ) share price on Wednesday.

In morning trade, the lithium developer’s shares jumped 11% to a new record high of 78.5 cents.

When the AVZ share price reached that level, it meant it was up 360% since the start of the year.

Why is the AVZ share price shooting higher?

Investors have been bidding the AVZ share price higher today despite there being no news out of it.

However, it is worth highlighting that a number of lithium shares are rising strongly today amid the ever-increasing bullish sentiment in the sector.

For example, Allkem Ltd (ASX: AKE) and Pilbara Minerals Ltd (ASX: PLS) shares are both recording strong gains at the time of writing. In fact, the latter is the best performer on the ASX 200 on Wednesday.

What else is boosting its shares?

Also boosting the AVZ share price has been a recent development in relation to its Manono Lithium Project in the Democratic Republic of the Congo.

Over the last few years there have been doubts that this project would ever see the light of day. But thanks to record high lithium prices, it now appears likely to be given the green light in the near future.

Especially after AVZ received firm commitments to raise $75 million (before costs) at 50 cents per new share earlier this month. Approximately 85% of the funds were raised from global institutions, with the balance coming from existing sophisticated shareholders. This includes cornerstone investor Suzhou CATH Energy Technologies.

AVZ’s Managing Director, Nigel Ferguson, believes this was an important milestone for the company.

He commented: “This capital raising marks an important milestone in our journey to develop the Manono Project which strengthens the financial position of the Company and will assist to keep the Project timeline within reach.”

The post Why did the AVZ (ASX:AVZ) share price jump 11% to a record high today? appeared first on The Motley Fool Australia.

More reading

• 2 excellent ASX growth shares offering big potential returns in 2022
• Macquarie names the best ASX lithium shares to buy in 2022
• 3 excellent ASX growth shares analysts are excited about
• Is the IGO (ASX:IGO) share price a better buy than Allkem?
• Why AVZ, Brickworks, Charter Hall, and Senex shares are storming higher

Motley Fool contributor James Mickleboro owns Orocobre 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 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 Michael Hill International Ltd (ASX: MHJ) share price is storming to a fresh 52-week high today. The company provided investors with a trading update following an early indication of performance for the half-year of FY22.

At the time of writing, the specialist retail jewellery chain’s shares are up 13.22% to $1.285 apiece. In contrast, the All Ordinaries (ASX: XAO) is travelling 1.03% higher to 7,824.2 points.

How is Michael Hill performing for H1 FY22?

Investors are driving up the Michael Hill share price after the company revealed a positive business update despite COVID-19 challenges.

According to its announcement, Michael Hill advised it has delivered sales growth and sustained margin exposure throughout November and December. This comes after management navigated the business through extended periods of store closures across Australia and New Zealand from July to November.

Regardless of the rise in COVID-19 cases around the globe, all stores were open during the critical Christmas trading period.

The company has a total of 285 stores across all markets in Australia, New Zealand, and Canada.

Michael Hill anticipates the strong performance to exceed its first-half expectations, particularly against earnings before interest and tax (EBIT). Previously, the company achieved EBIT for H1 FY21 of $44.6 million.

While its second-quarter trading update will be released on 14 January, all eyes will be on its key operating metrics.

Furthermore, the company’s first half of the FY22 financial results will be delivered on 23 February 2022.

Michael Hill share price snapshot

In the past 12 months, Michael Hill shares have boasted a gain of more than 92% from continued positive investor sentiment. The company’s share price charged higher since October following a sound first-quarter trading update for FY22.

Based on today’s price, Michael Hill commands a market capitalisation of around $500 million, with roughly 388.29 million shares outstanding.

The post Michael Hill (ASX:MHJ) share price rockets 13% to a 52-week high. Here’s why appeared first on The Motley Fool Australia.

More reading

• Why did the AVZ (ASX:AVZ) share price jump 11% to a record high today?
• Is it a buy? Jefferies tips 25% upside for the Incitec Pivot (ASX:IPL) share price
• ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again
• The Select Harvests (ASX:SHV) share price is slipping today
• Is Amazon stock too expensive?

Motley Fool contributor Aaron Teboneras 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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Shares in chemicals and fertilisers giant Incitec Pivot Ltd (ASX: IPL) are edging higher on thinly traded volume today and are less than 2% in the green at $3.24.

Incitec Pivot has gathered steady support since mid-June and shares have broken through key resistance levels more than three times in that period to date, including advancing to new 52-week highs.

Plus with critical supply shortages of the chemical neutraliser AdBlu keeping Incitec Pivot in the spotlight, investors have thrust the company’s share price from a closing low of $2.97 since the beginning of December. So with that in mind, is it a buy? Here’s what the experts have to say.

What’s going on with Incitec Pivot lately?

The wide-ranging price action seen on Incitec Pivot’s chart has come amid a few key updates in its growth narrative going into 2022.

Firstly, the company announced the closure of its Gibbon Island manufacturing operations effective December 2022. This is the date when current natural gas feedstock supply arrangements expire.

The Gibbon Island facility will be closed after more than 50 years of operation and around 170 employees will have to be reassigned.

One-off costs to close the plant include an $83.5 million cash impairment to close the facility and a $102.5 million asset depreciation.

The company also announced strengths in its full year results in November to which investors reacted positively, paring some of the losses incurred in previous sessions.

In the presentation, Incitec advised it had grown revenue 10% to $4.35 billion and saw a 91% rebound in net profit after tax (NPAT) to $209 million.

After some short-term turbulence, shares are now trading back in line with the longer-term bullish momentum and are heading back towards 52-week highs.

Is Incitec Pivot a buy right now?

Analysts at investment bank Jefferies certainly think so. The firm recently hammered down its conviction in a note to clients as well, noting that the $6 billion Incitec’s earnings outlook has likely been improved thanks to the recent spike in ammonia prices.

Jefferies notes that Incitec’s average ammonia price for Q1 FY22 has lagged the key benchmark by around 1 month and that the current average is presently around $110–$700 tonne higher than the broker’s internal ammonia price estimates for FY22.

This dislocation in Jefferies’ ammonia forecasts and Incitec’s performance could bode in well for the fertiliser giant, particularly to its operating cash flows.

If this current average is held throughout FY22, “this would deliver incremental EBIT of $200 million” the investment bank reckons.

With its projections, Jefferies values Incitec at $4 per share and advocates a buy in its recommendation on the stock.

Jefferies is joined by fellow brokers Morgan Stanley, Macquarie and Morgans, who each value Incitec Pivot at $4.30, $3.56 and $3.75 respectively.

In fact, in a list of analysts provided by Bloomberg Intelligence, 58% of the coverage advocates Incitec Pivot as a buy, whereas there is just 1 firm that says it is a strong sell, being Sadif Investment Analytics.

The spread of price targets ranges from $4.30 at the top to a bottom of $2.70, whereas the consensus price target sits at $3.51. At the time of writing, this implies an upside target of 8%.

The Incitec Pivot share price has climbed 41% in the last 12 months after climbing another 41% this year to date.

The post Is it a buy? Jefferies tips 25% upside for the Incitec Pivot (ASX:IPL) share price appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again
• Is the Incitec Pivot (ASX:IPL) share price the next shortage winner?
• 5 things to watch on the ASX 200 on Friday
• 4 ASX shares tipped for buybacks in 2022: expert

The author 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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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is back from the break and charging higher. The benchmark index is currently up 0.9% to 7,489.2 points.

Here’s what is happening on the ASX 200 today:

ASX 200 bank shares storm higher

It has been a great start to the week for ASX 200 bank shares. Commonwealth Bank of Australia (ASX: CBA) and the rest of the big four banks are all recording solid gains today and helping to drive the ASX 200 higher. The Westpac Banking Corp (ASX: WBC) share price has been the best performer in the group with a gain of 1.3%.

Afterpay shares fall

The Afterpay Ltd (ASX: APT) share price is bucking the trend and dropping into the red on Wednesday. The buy now pay later provider’s shares are falling in response to yet another pullback in the Block (Square) share price overnight. Afterpay shareholders recently voted in favour of Block’s all-scrip takeover proposal.

Incitec Pivot rated as a buy

The Incitec Pivot Ltd (ASX: IPL) share price is pushing higher on Wednesday. This morning the agricultural chemicals company’s shares were given a boost from a broker note out of Jefferies. The broker has put a buy rating and $4.00 price target on the company’s shares. It expects high ammonia prices to support its earnings.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Pilbara Minerals Ltd (ASX: PLS) share price with a 5% gain. Investors have been buying lithium shares amid optimism that prices of the battery making ingredient will stay higher for longer. The worst performer has been the Afterpay share price with a 2% decline following Block’s pullback overnight.

The post ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again appeared first on The Motley Fool Australia.

More reading

• Is it a buy? Jefferies tips 25% upside for the Incitec Pivot (ASX:IPL) share price
• Pilbara Minerals (ASX:PLS) share price surges 6% to hit new record high
• December is shaping up to be pretty good for the Telstra (ASX:TLS) share price . Here’s why
• 2 ASX 200 dividend shares named as buys
• Why the Afterpay (ASX:APT) share price has tanked 20% in December

Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Afterpay Limited. The Motley Fool Australia owns and has recommended Afterpay Limited. 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 Bruce Jackson.

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