The Crown Resorts Ltd (ASX: CWN) share price didn’t join in the market rally today, but now could be the time to buy.

That’s the view of investment banker JPMorgan, which is tipping investors to buy shares in the scandal-hit casino operator before next week when Crown holds its investor day.

Catalysts for the Crown share price

That optimism isn’t reflected in the Crown share price at the moment as the company struggles to hold its head above break-even.

After spending most of the day in the red, shares in the casino closed 0.26% higher at $11.36. This compares to today’s 1.42% jump in the S&P/ASX 200 Index (ASX: XJO) at the close.

But Crown could still make a good bet if JPMorgan is to be believed. The broker reckons there are a few factors that could prompt analysts to upgrade their forecasts for Crown.

First, JPMorgan thinks management could provide reassurances that operations are normalising after the tumultuous period.

Other possible good news

That means the group’s free cash flow could see a marked improvement. Meanwhile, the broker noted a brighter outlook for Melbourne and Perth operations would also go a long way to helping investors rebuild confidence.

Said JPMorgan:

Earnings expectations for CWN vary quite broadly; the current FY23 range implies anything from another lockdown to all systems go.

The divergence is from Barangaroo’s contribution, and although difficult to forecast, there are guiding principles for estimating SYD earnings.

One way to quantify the upside from its new Barangaroo project in Sydney is to calculate the revenue per available room (RevPAR).

We have previously explored the incremental impact of main gaming floor revenues via RevPAR. In the previous instances, we assumed CWN Sydney would track at a similar average rate per room as Crown Towers Melbourne at around A$400 per night.

How much is the Crown share price worth?

Even then, that might prove conservative as average room prices on the Crown Sydney website suggest a figure of $850 a night might be more appropriate.

The broker then calculated the so-called flow through rate to the main gaming floor of the casino. This isn’t an exact science but it provides a guide to the earnings contribution from Crown’s latest resort.

“Taking our above analysis we can see that the additional revenue/earnings from the Barangaroo Gaming operations would add 5%-6% to consensus estimates in FY23,” said the broker.

There are still questions to be answered, but JPMorgan believes there’s significant upside for the Crown share price.

Its 12-month price target on Crown is $15 a share.

The post Why this top broker thinks the Crown (ASX:CWN) share price is a buy right now appeared first on The Motley Fool Australia.

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• Why Crown, Mineral Resources, Sonic, and Treasury Wine are charging higher
• ASX 200 (ASX:XJO) midday update: Crown jumps, WiseTech tumbles

Motley Fool contributor Brendon Lau 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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The Pilbara Minerals Ltd (ASX: PLS) share price surged higher today despite no news being released by the company.

However, it wasn’t alone in its gains. The company’s home sector, the S&P/ASX 200 Materials Index (ASX: XMJ), also soared today, having gained 2.14%.

As of Wednesday’s close, the Pilbara share price is $2.49, 5.51% higher than it was at the end of Tuesday’s session.

For context, the S&P/ASX 200 Index (ASX: XJO) gained 1.25% today.

Let’s take a look at the latest news from the lithium producer and what might have boosted its stock.

Pilbara share price storms higher

Wednesday was a good day on the ASX for the Pilbara share price.

Its surge brought the company’s gains for the last 30 days to 8.7%, despite it having been relatively quiet in that time.

The first and only time the market heard from Pilbara in the last month was when it announced it had increased its senior debt facilities.

As my Foolish colleague, Aaron reported at the time, the company expanded its finance facility by US$20 million to US$130 million and its undrawn working capital facility by US$10 million to US$25 million. Its total senior secured debt facilities were also boosted by US$30 million to US$155 million.

Most of the extra funds will go towards the restart of its Ngungaju Plant, part of its Pilgangoora Operation.

The news saw the Pilbara share price lift 1.6% and hit a new all-time high.

However, today’s surge is less simple to explain. Though, unexplained gains seemed to have occurred across the lithium-producing board today, with many of Pilbara’s peers joining in on the action.

The Mineral Resources Limited (ASX: MIN) share price soared 5.8%, while that of Liontown Resources Limited (ASX: LTR) increased 4.8%.

Right now, the Pilbara share price is 187% higher than it was at the start of 2021. It has also gained 212% since this time last year.

The post The Pilbara (ASX:PLS) share price pumped 5% higher today. What happened? appeared first on The Motley Fool Australia.

More reading

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• These 3 ASX 200 shares are topping the volume charts on Thursday

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 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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Today, the S&P/ASX 200 Index (ASX: XJO) took a page out of Wall Street’s book by posting a broad market gain. At the closing bell, the benchmark index surged 1.25% higher to 7,405.4 points.

There were minimal losers in today’s session, with most companies in the index climber higher. The strongest performers included the communication services, materials, and tech sectors. A shift in sentiment towards markets played out as investors’ worries of the Omicron variant waned.

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, Zip Co Ltd (ASX: Z1P) was the biggest gainer today. Shares in the buy now, pay later provider jumped 10.9% as money flowed back into payment companies. Additionally, Zip appointed former Deliveroo CEO Levi Aron as its chief growth officer for the company’s Quadpay operations. Find out more about Zip Co here.

The next biggest gaining ASX share today was Champion Iron Ltd (ASX: CIA). The iron ore explorer gained 6.44% following a rise in the price of the steelmaking commodity. Uncover the latest Champion Iron details here.

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

ASX-listed company	Share price	Price change
Zip Co Ltd (ASX: Z1P)	$5.29	10.90%
Champion Iron Ltd (ASX: CIA)	$4.96	6.44%
Mineral Resources Ltd (ASX: MIN)	$47.26	6.27%
Novonix Ltd (ASX: NVX)	$9.09	5.94%
REA Group Ltd (ASX: REA)	$169.89	5.72%
Pilbara Minerals Ltd (ASX: PLS)	$2.49	5.51%
Carsales.com Ltd (ASX: CAR)	$26.42	5.43%
Dicker Data Ltd (ASX: DDR)	$14.30	5.22%
Liontown Resources Ltd (ASX: LTR)	$1.515	5.21%
Lynas Rare Earths Ltd (ASX: LYC)	$9.35	4.94%

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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Motley Fool contributor Mitchell Lawler owns shares of Lynas Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Dicker Data Limited and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia has recommended REA Group Limited and 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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The Adairs Ltd (ASX: ADH) share price was among the best performers on the All Ordinaries on Wednesday.

The furniture and homewares retailer’s shares rose almost 5% to $3.74.

Why did the Adairs share price storm higher?

There appear to have been a few catalysts for the strong gain by the Adairs share price on Wednesday.

One was improving investor sentiment following a strong night of trade on Wall Street after omicron concerns started to ease.

In addition, sentiment in the retail sector was given a further boost this week from the release of the Household Spending Intentions (HSI) Index for November by Commonwealth Bank of Australia (ASX: CBA). That release revealed that the index has hit its highest level since December 2019.

So, with household savings sitting at a lofty $240 billion, retailers are bracing for a strong holiday period.

Bullish broker

Also potentially giving the Adairs share price a lift was a recent broker note out of Morgans.

According to the note, Morgans was pleased with the company’s acquisition of Focus on Furniture. In response, it has retained its add rating and lifted its price target to $4.80. Based on the current Adairs share price, this implies potential upside of 28% for investors.

In addition, Morgans is forecasting a fully franked dividend of 23 cents per share in FY 2022. This equates to a dividend yield of 6.1%, bringing the total return to 34%.

Morgans commented: “It seems to us that the market sees ADH as a COVID beneficiary that is unlikely to deliver much in the way of organic growth over the next few years. Buying Focus perhaps hasn’t done anything to dispel this notion. But we think that’s unfair. Our estimates are for an EPS CAGR of 21% between FY20 and FY24F. The acquisition of Mocka and Focus play a large part in driving this, but even organically, a combination of a very strong loyalty programme, GLA growth and cost efficiencies underpin a growth story that we think is going under the radar. ADD.”

The post Why is the Adairs (ASX:ADH) share price surging 5% higher today? appeared first on The Motley Fool Australia.

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• What happened with the Adairs (ASX:ADH) share price today?
• Top ASX shares to buy in December 2021

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 shares of and has recommended ADAIRS FPO. The Motley Fool Australia owns shares of and has recommended ADAIRS 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 Woolworths Group Ltd (ASX: WOW) share price has closed higher on Wednesday. This comes after the retail conglomerate announced that it has commenced construction of an online fulfilment project.

The news sent Woolworths shares into positive territory today, finishing the session at $40.81, up 0.39%.

Woolworths seeks to better service online grocery needs

In an effort to cater for the surging demand of online shopping, Woolworths is building its first ever automated customer fulfilment centre.

Set to open in 2024, the facility, located in Western Sydney, will have a floor space of 22,000 square metres. To put this into perspective, this is two times the size of Western Sydney Stadium.

Woolworths has employed solutions provider Knapp to equip the facility with its latest automation technology. This will enable 250 workers to pick and dispatch up to 50,000 home deliveries a week across Western Sydney.

To keep in line with its green commitment, Woolworths is targeting a 5-star green star rating for the building. It plans to harvest rainwater, use solar panels for power and provide electric vehicle charging facilities for its delivery trucks.

Woolworths noted that more than 80% of online orders are fulfilled by stores. The development of the new facility builds on recent investments in micro-fulfilment technology at its Carrum Downs (Victoria) and Maroochydore (Queensland) supermarkets.

E-commerce sales have accelerated since the COVID-19 pandemic with the segment now accounting for 11% of all sales.

Management commentary

Woolworths director of e-commerce Annette Karantoni commented:

Online grocery shopping is booming in Western Sydney as more and more customers look to reclaim time in their busy lives.

Over the past two years alone, we’ve seen the demand for online groceries in Western Sydney more than triple. We need to continue investing in new capacity to keep pace with demand and rising customer expectations.

The development of Auburn will provide a major boost to our same day delivery capacity in Western Sydney — unlocking faster and more flexible online shopping options for our customers. For added convenience, we’ll also offer pick up bays with a direct to boot service for local customers who prefer to collect online orders themselves.

Woolworths share price recap

It’s been a fantastic year for Woolworths shareholders, with the company’s shares accelerating to new all-time highs.

Over the past 12 months, Woolworths shares have pushed around 18% higher, mostly coming from year-to-date gains, up almost 20%.

Based on today’s price, Woolworths commands a market capitalisation of roughly $49.74 billion, with approximately 1.21 billion shares on issue.

The post Woolworths (ASX:WOW) starts construction of project to double online fulfilment capacity appeared first on The Motley Fool Australia.

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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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In late 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 1.5% to 7,426 points.

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

Appen Ltd (ASX: APX)

The Appen share price is missing out on the tech sector recovery and is down 1% to $9.43. The artificial intelligence data services company’s shares have come under pressure recently due to concerns over increasing competition and potential structural changes in the industry.

Cooper Energy Ltd (ASX: COE)

The Cooper Energy share price is down 5% to 26.7 cents. This follows the release of an operational update this morning. That update revealed revisions to its FY 2022 guidance. This includes a reduction in its operating earnings guidance to $53 million to $63 million from $60 million to $70 million.

PolyNovo Ltd (ASX: PNV)

The PolyNovo share price has continued its slide and is down a further 2.5% to $1.44. The medical device company’s shares have been sold off this year amid weaker than expected sales growth and the resignation of its CEO. PolyNovo is also a favourite of short sellers at present, with 7.5% of its shares held short at present.

Sigma Healthcare Ltd (ASX: SIG)

The Sigma share price is down a further 4.5% to 44 cents. Investors have been selling this pharmacy chain operator’s shares this week following the release of a trading update. Sigma expects its earnings before interest, taxes, depreciation, and amortisation (EBITDA) to drop by 10% in FY 2022. This compares to previous guidance for 5% growth in FY 2022 and was driven largely by operational issues resulting from the roll-out of its Enterprise Resource Planning.

The post Why Appen, Cooper Energy, PolyNovo, and Sigma shares are falling 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. owns shares of and has recommended Appen Ltd and POLYNOVO FPO. The Motley Fool Australia owns shares of and has recommended Appen 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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The Environmental Group Ltd (ASX: EGL) share price is rocketing today, up 38% at time of writing.

Below, we take a look at the results from the facility service and environmental solutions company’s commercial water treatment trial that looks to be driving ASX investor interest.

What commercial water trial results were announced?

The Environmental Group share price is surging after the company reported positive results from its commercial PFAS water trial with Reclaim Waste.

PFAS, according to the release, stands for per- and poly-fluoroalkyl substances. The manmade chemicals “are very persistent in the environment and in the human body meaning they don’t break down and can accumulate over time”.

The trial, using the Environmental Group’s foam fractionation technology, was conducted across a number of commercial waste streams and liquid waste types polluted with PFAS at different concentrations.

The company reported it had successfully separated and removed the PFAS to “below detection levels” in every high-volume, low concentrate trial. Additionally, it was able to separate and remove 99.4% of PFAS from its first processing run on the highest concentration trials.

Commenting on the trial results, the Environmental Group’s CEO, Jason Dixon, said:

By running various waste streams at different concentrations it has given us great confidence that the technology has the ability to separate PFAS for destruction across a wide range of liquid waste types covering the majority of the market for PFAS removal.

The trial plant can treat some 50,000 litres per day. It’s operating at Reclaim Waste’s site in Victoria.

In other news that could be providing a tailwind for the Environmental Group share price today, the company announced it has received firm commitments to raise $4.75 million (before costs) through a share placement.

The Group expects to issue some 27.1 million shares at 17.5 cents per share “to advance commercialisation and support other business development opportunities”.

Environmental Group share price snapshot

The Environmental Group share price has been a stellar performer this year, up 700% since 4 January. By comparison, the All Ordinaries Index (ASX: XAO) has gained 11% year-to-date.

Over the past month, shares in the Environmental Group have gained 41%.

The post Up 700% this year, what’s sending the Environmental Group (ASX:EGL) share price 38% higher today? appeared first on The Motley Fool Australia.

More reading

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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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It has been a disappointing past month for the ETFS Hydrogen ETF (ASX: HGEN) share price. However, today has bucked the trend as the hydrogen-focused exchange-traded fund swings to the upside.

In afternoon trade, the clean energy ETF is fetching a price of $11.85, representing an increase of 3.04% from its previous close. Despite the gain, the fund remains 15% below its 52-week high, which was set on 15 November 2021.

Shares in the ASX-listed Hydrogen ETF are rising in value today as a string of notable companies announce further hydrogen ambitions.

Industry titans dipping their toes in hydrogen

The green revolution has been relentless in attempting to upend traditional energy companies. As onlookers become more anxious about the world’s overreliance on fossil fuels, a swathe of more renewable and/or emission-free alternatives have gained traction.

More recently, hydrogen has been held to a high standard as an emission-free replacement to carbon-producing energy sources. For instance, Fortescue Metals Group Limited (ASX: FMG) founder Andrew ‘Twiggy’ Forrest has been advocating for hydrogen.

The company’s subsidiary, Fortescue Fortescue Industries aims to produce 15 million tonnes of water-derived fuel by 2030. Though, investors of the Hydrogen ETF are likely looking at the latest accomplices to join the fray with eager eyes.

Today, the hydrogen industry gained two major energy companies as participants in the hydrogen industry. While the companies haven’t announced a complete upheaval of their fossil fuel foundations, they have indicated — at a minimum — interest in hydrogen energy.

The companies in question are AGL Energy Ltd (ASX: AGL) and Royal Dutch Shell (LSE: RDSA) Firstly, Shell has entered into a joint venture with BlueScope Steel Limited (ASX: BSL) to develop hydrogen projects at the Port Kembla Steelworks. Similarly, AGL has partnered with Fortescue Future Industries to explore the development of a hydrogen hub in the Hunter Valley.

Certainly, these announcements show a genuine interest from energy giants in testing the hydrogen waters. As such, investors of the Hydrogen ETF have likely gained a heightened conviction for hydrogen’s involvement in the future of energy.

How has the Hydrogen ETF performed?

Since listing on 7 October 2021, the ETFS Hydrogen ETF share price has rallied 17.2%. Interestingly, while the ETF is listed on the ASX, it does not contain any Australian companies. Instead, its constituents are predominantly based in the United States. However, the fund’s lack of Aussie companies has not held it back from outperforming the ASX.

The post Why is the ETFS Hydrogen ETF (ASX:HGEN) share price climbing today? appeared first on The Motley Fool Australia.

More reading

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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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

APM Human Services International Ltd (ASX: APM)

According to a note out of Goldman Sachs, its analysts have initiated coverage on this health and human services provider’s shares with a buy rating and $3.60 price target. Goldman notes that APM’s revenue is backed by long-term government procurement contracts, with a focus on employment, disability, and allied health services. It also sees strong organic growth opportunities thanks to its ~$2.5 billion per annum revenue tender pipeline and its scaling into the $30 billion per annum NDIS and growing aged care sector. The APM share price is trading at $2.73 today.

Bank of Queensland Limited (ASX: BOQ)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $10.00 price target on this regional bank’s shares. Macquarie was pleased with the bank’s trading update at its annual general meeting and particularly its guidance for positive jaws in FY 2022. It also feels that Bank of Queensland is managing margin pressures well in comparison to some of its peers. The Bank of Queensland share price is fetching $7.96 on Wednesday.

Newcrest Mining Ltd (ASX: NCM)

Analysts at Morgans have retained their add rating but trimmed their price target on this gold miner’s shares to $27.18. Morgans notes that Newcrest recently published studies outlining medium term development plans for its major assets. While the broker acknowledges that a lot of work needs to be done across Newcrest’s portfolio, it remains positive on the investment opportunity. It also sees potential for much greater value at Telfer/Havieron and Brucejack than currently modelled. The Newcrest share price is trading at $23.51 today.

The post Top brokers name 3 ASX shares to buy today 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 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 Cettire Ltd (ASX: CTT) share price is clawing back its heavy losses realised at the beginning of December. This comes despite no new announcements from the company since its annual general meeting (AGM) last month.

During mid-afternoon trade, the online luxury goods retailer’s shares are changing hands for $3.46, up 9.15%. It’s worth noting that despite today’s strong rise, its shares are down almost 10% since last week.

What’s driving Cettire shares higher?

While the rebound could be attributed to the Cettire share price being oversold recently, it appears investors remain optimistic about the company’s opportunities.

With Christmas around the corner, the retail industry is looking to cash in on the difficult year consumers had to endure. Cashed-up families are expected to splurge big for the festive season, and Cettire is in the hot seat.

An FY22 trading update provided by the company indicated its growth momentum had continued with triple-digit increases across key metrics.

As such, for the first four months of the fiscal year, gross revenue soared 184% year-on-year. Sales revenue jumped 172% over the same period on the back of the company’s marketing initiatives and customer acquisition investment.

Cettire noted that, as a result, it is experiencing strong traffic growth of 379% compared to the previous year. Management is aiming to improve the conversion rates to maximise revenue potential.

The active customer base stands around 158,000, which represents a 220% uplift year-on-year.

Cettire share price snapshot

Over the past 12 months, the Cettire share price has accelerated by almost 600%, with year-to-date up an astonishing 630%. The retail industry has been a big winner from COVID-19, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) roaring 25% higher in 2021.

Based on today’s price, Cettire presides a market capitalisation of around $1.31 billion, with approximately 381.24 million shares on issue.

The post What’s with the Cettire (ASX:CTT) share price today, up 9%? appeared first on The Motley Fool Australia.

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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. owns shares of and has recommended Cettire Limited. The Motley Fool Australia has recommended Cettire 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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