If you’re on the lookout for some new additions to your portfolio, then you may want to hear what analysts are saying about the ASX shares listed below.

Here’s what you need to know:

Bega Cheese Ltd (ASX: BGA)

The team at Bell Potter believe this diversified food company’s shares are in the buy zone at the current level. That’s despite a recent rally after it emerged that Andrew Forrest’s investment business has been loading up on shares.

The broker likes Bega Cheese largely due to its game-changing acquisition of the Lion Dairy & Drinks business for $528 million last year.

It commented: “The acquisition of Lion Dairy & Drinks (LDD) and targeted synergy base is expected to drive a material step change in returns for BGA over the next three years. In addition, we see BGA benefiting from recent upward moves in both commodity price drivers (SMP returns up +32% since Jun’21) and price increases on private label milk for only the second time in 20 years (+10¢/l by both Woolworths and Coles).”

Bell Potter has a buy rating and $6.45 price target on its shares. This compares to the latest Bega Cheese share price of $5.31.

Transurban Group (ASX: TCL)

Another ASX share that analysts rate highly right now is Transurban. The team at Morgans, for example, appear to believe it could be a good option for investors looking for income. This is due to its forecasts for a rapid dividend recovery post-pandemic as traffic volumes recover.

Morgans commented: “We think TCL will continue to be attractive to investors given its market cap weighting (important for passive index tracking flows), the high quality of its assets, management team, balance sheet, and growth prospects. Watch for rapid recovery in DPS alongside traffic recovery and WestConnex acquisition prospects.”

The broker has an add rating and $14.57 price target on its shares. This compares to the latest Transurban share price of $13.49.

The post Why analysts slapped buy ratings on these ASX shares appeared first on The Motley Fool Australia.

More reading

• Would you like cheese with that? A look at some of Twiggy’s highest profile ASX investments of 2021
• Morgans names 2 ASX 200 dividend shares to buy
• These were the best performing ASX 200 shares last week
• ASX 200 falls on Friday but records 13% gain in 2021
• ASX 200 (ASX:XJO) midday update: Big four banks fall, Bega Cheese jumps again

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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Last year was an eventful one for the QBE Insurance Group Ltd (ASX: QBE) share price as it rebounded from a disappointing 2020 to finish up 33%.

In late trading today, the QBE share price is down 0.25% at $11.97.

Let’s take a look at the year that was for the insurer…

2021 off to a rocky start

After falling around 34% in 2020, the QBE share price got off to a rocky start in January 2021, before finding its stride in February.

The lower share price coincided with QBE announcing the renewal of its 2021 reinsurance program — arming itself with the help of other insurers in the protection of larger claims made.

The company increased its main retention to $3.4 billion — up by $1 million from its 2020 plan.

Its North America plan was cut in half, down to $200 million, due to COVID-19.

The QBE share price shifted slightly in mid-February after the insurer released its FY 2020 results.

In the presentation, the company reported a net cash loss (after tax) of US$863 million. This compared to an adjusted net profit (after tax) totalling US$733 million the year before.

QBE also did not declare a dividend for FY 2020.

QBE share price overcoming internal struggle

From 27 April to 6 May, shares in the insurer jumped by 17%. However, the company was expected to endure a pushback from shareholders at its AGM on 5 May.

The memo on the shareholders’ agenda? QBE’s remuneration report and its overall financial performance.

QBE chair Michael Wilkins AO cited COVID-19 and “heightened catastrophe activity” as reasons for the losses, though acknowledged the “unacceptable level of prior year reserve deterioration”.

However, Wilkins remained firm that QBE would make a comeback — and in the days following the AGM, QBE became one of the best performing ASX 200 shares.

The QBE share price continued to rise through August, before hitting its 52-week-high mid-month.

Strong prices to end the year

In the remainder of the year, the insurer’s shares dropped by 10% to end the year trading for $11.35 apiece.

The QBE share price saw a small rise after Melbourne’s 5.9 magnitude earthquake on 22 September.

It also saw a small drop following a Federal Court decision that businesses could not be compensated for losses due to government lockdowns.

So what’s on the 2022 agenda for the Australian insurer? Well, we spoke to a number of advisors who have their own predictions — you can read it here.

The company has a market capitalisation of more than $17.7 billion and almost 1.5 billion shares issued.

The post Here’s why the QBE (ASX:QBE) share price surged 30% in 2021 appeared first on The Motley Fool Australia.

More reading

• Morgans names 2 ASX 200 shares to buy
• Why is the IAG (ASX:IAG) share price underperforming QBE in 2021?
• Where are QBE (ASX:QBE) shares headed in 2022?
• 3 ASX shares to buy before Xmas (hint: one predicted to rise 41%)
• 3 ASX finance shares to buy right now (hint: no big banks)

Motley Fool contributor Alice de Bruin 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 Ramsay Health Care Limited (ASX: RHC) share price is suffering today amid a broader market sell off.

Meanwhile, reports have emerged the private hospital operator has its sights set on a hiring spree, bringing in graduate nurses to fight against a COVID-19-exacerbated shortage.

At the time of writing, the Ramsay Health Care share price is $67.58, 5.76% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has slumped 2.78% today, while the All Ordinaries Index (ASX: XAO) is down 2.83%.

Let’s take a closer look at Ramsey’s apparent plan to staff its hospitals through yet another COVID-19 outbreak.

Ramsay share price slides amid planned hiring spree

According to reporting by The Australian, Ramsay is planning to onboard its highest intake of graduate nurses to battle a shortage of staff made worse by the pandemic.

It expects to employee 550 new graduates – 25% more than it did during 2021.

Previous research by the federal government – conducted in 2014 – forecasts a shortfall of 85,000 nurses by 2025 and 123,000 by 2030.

On top of that, CEO of Ramsay’s Australian operations Carmel Monaghan was quoted as saying the pandemic has worsened the shortage:

Like all industries, we see the workforce as our most significant challenge for the next few years. Supply has been constrained with borders closed and staff furloughed due to COVID.

Monaghan also stated some nurses refused to be vaccinated against COVID-19, further exacerbating the shortage.

The Australian noted a shortage of nurses may block the company’s hospitals from bouncing back to their full elective surgery capacity.

Elective surgeries are a major income source for Ramsay’s private hospitals. In its results for financial year 2021, Ramsay reported a 90-day restriction on elective surgeries in Victoria had a $70 million impact on the company’s earnings before interest and tax.

Similar restrictions were put in place in New South Wales over the first half of financial year 2022 and were one reason behind a 39.5% fall in the company’s unaudited net profit after tax for the first quarter of financial year 2022.

Thus, it likely goes without saying the market will be watching the Ramsay Health Care share price when it releases its results for the first half of financial year 2022.

Monaghan reportedly told The Australian the company has already received expressions of interest from 500 graduate nurses.

The post Ramsay (ASX:RHC) share price falls 6% amid reports of COVID battle plan appeared first on The Motley Fool Australia.

More reading

• These ASX healthcare shares could be excellent buy and hold options
• Why Audinate, Firefinch, IAG, and Ramsay shares are falling
• Leading brokers name 3 ASX shares to buy today
• What’s the outlook for ASX healthcare shares in 2022?
• Ramsay (ASX:RHC) share price lower after announcing $1.4bn Elysium acquisition

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 Ramsay Health Care 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 S&P/ASX 200 Index (ASX: XJO) is having a pretty awful trading day so far on Thursday, sorry to say. At the time of writing, the ASX 200 is down a nasty 2.72% at 7,360 points and has been falling steadily all day.

But rather than letting that drag us down, let’s instead dig into the ASX 200 shares topping the ASX 200’s share volume numbers, according to investing.com.

3 most traded ASX 200 shares by volume on Thursday

Telstra Corporation Ltd (ASX: TLS)

ASX 200 telco share Telstra is our first company to check out today. This blue chip has had a notable 7.78 million of its shares bought and sold thus far this Thursday.

With no new developments out of Telstra today, this volume is likely the result of the share price fall Telstra has gone though so far. This telco has given up 1.2% so far today and is asking $4.14 a share at the time of writing. This is probably responsible for so many shares trading today.

Zip Co Ltd (ASX: Z1P)

ASX 200 buy now, pay later (BNPL) share Zip is our next share to check out. Zip Co has had a sizeable 9.56 million of its share find a new home thus far today.

With no fresh news or announcements out of Zip, we can probably put this elevated trading volume down to the nasty share price fall this company has endured so far this Thursday. Zip shares are presently down a depressing 6% or so after hitting a new 52-week low of $3.80 earlier in today’s session. This is the likely culprit for Zip’s high volume.

Pilbara Minerals Ltd (ASX: PLS)

And today’s final and most traded ASX 200 share so far is none other than lithium producer Pilbara Minerals. A hefty 20.04 million Pilbara shares have flown around the markets thus far today. Again, there isn’t much in the way of developments out of this company today.

So as such, we can speculate that this high volume is the result of the sizeable share price slump Pilbara has suffered through. This lithium share is currently down by 4.05% at $3.44 a share after dropping as low as $3.41 earlier in the trading day.

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

More reading

• What is JP Morgan saying about ASX lithium shares?
• 6 ASX shares involved with green metals
• Own Zip (ASX:Z1P) shares? Top broker forecasts earnings for next 3 years
• These 3 ASX tech shares just hit 52-week lows. What’s going on?
• Is the party over for ASX BNPL shares?

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

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Shares in ASX uranium players are gaining support to start the year in 2022 and are outpacing their benchmarks.

Whereas the S&P/ASX 200 index (ASX: XJO) has slipped just under 2% in the red to 7,423 points today, several ASX uranium shares are surging and are well ahead of the broad index.

For instance, both Paladin Energy Ltd (ASX: PDN) and Bannerman Energy Ltd (ASX: BMN) are in the green and have climbed 3% and 5% on the day respectively.

Not to mention Lotus Resources Ltd (ASX: LOT) and Deep Yellow Ltd (ASX: DYL) share prices’ that are 3% and 5% higher on the day as well.

What’s got ASX uranium shares charging higher today?

Deadly protests stemming from the world’s largest producer of uranium, Kazakhstan, are leading to a jump in prices for the radioactive metal.

Kazakhstan produces more than 40% of the world’s uranium, and right now is facing unrest amid the greatest challenge to the country’s leadership in years according to reporting from Bloomberg.

Prices of the radioactive metal have surged this year and are now 48% higher on the year trading at US$45.40 per pound.

For producers, any increase in spot prices is likely to be a net positive to margins and revenue, given the higher prices fetched for the metal.

For others without the pricing power, there may be hidden challenges. However, uranium surged nearly 8% on Wednesday, as “the potential for this to create a shortage is what people are now trading on” said Jonathan Hinze, president of UxC LLC to Bloomberg.

From August to September alone spot and futures for uranium shot up more than 65% to a high of US$50.80/lbs, amid a reshuffling of energy investments from state giants in Canada and the EU.

Specially, the EU has recently moved ahead with plans to accept some nuclear projects as sustainable, as an incentive to drive investment into the space.

With these supply/demand mechanics in place, price takers listed on the ASX are seeing the price hikes reflected positively in their share prices today.

What to expect next?

Given the world’s exposure to uranium from Kazakhstan, the civil unrest is causing jitters amongst market participants overnight.

Any shutoff of supply chains out of Kazakhstan would result in severe shortages of the metal if it were a prolonged period.

Alas the market is pricing the new risk to uranium supply in curious ways this week. On some foreign exchanges, shares in uranium players have taken a hit, whereas the segment is outperforming on the Australian markets today.

With respect to Kazakhstan, Russia said it will send “peacekeeping forces” alongside its allies in the Collective Security Treaty Organization after the Kazakh President appealed for assistance.

Only time will tell as to how traders will evaluate how to play the situation coming out of Kazakhstan, although the threat of an “expected” shortage looms.

The price of uranium is down more than 1% for the month but is on track for a fast rebound at the current pace of recovery.

The post Why are ASX uranium shares charging higher today? appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts this Tuesday
• Here’s what the year ahead might look like for ASX uranium shares

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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The ResMed CDI (ASX: RMD) share price has been caught up in today’s market selloff.

In afternoon trade, the medical device company’s shares are down 4% to $33.58.

Is this a buying opportunity?

While today’s weakness in the ResMed share price is disappointing for shareholders, it could be a buying opportunity for the rest of us.

According to a recent note out of Morgans, its analysts have put an add rating and $40.80 price target on its shares.

Based on the current ResMed share price, this implies potential upside of 21% over the next 12 months.

Why is the broker bullish on the ResMed share price?

Morgans was pleased with the company’s performance during the first quarter and believes it will benefit in the short term from the recall of the rival Phillips device.

In respect to the recall, the broker previously commented: “We estimate the recall gain is c40% of Philips’ sleep device revenue (cUS$780m), or c13% of its market share (assuming it holds 33% share of a US$2.3bn market).”

However, it is the medium to long term that makes Morgans most positive on the ResMed share price. Its analysts are particularly positive on its connected-care digital platform and see major growth opportunities.

The broker explained: “While we believe the next few quarters will likely be volatile, as COVID-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”

All in all, the broker appears to believe this could make it worth considering the sleep treatment focused medical device company’s shares as a buy and hold option.

The post Broker tips ResMed (ASX:RMD) share price to rise over 20% appeared first on The Motley Fool Australia.

More reading

• In the green: Here are the 5 best ASX healthcare shares of 2021
• 3 top ASX growth shares to buy in January
• Top brokers name 3 ASX shares to buy
• 2 excellent ASX growth shares offering big potential returns in 2022
• Why analysts love these ASX 200 blue chip shares

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 ResMed Inc. 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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Lithium spot and futures contracts reached another record high by the end of December, marking a 486% leap in 2021.

Demand for lithium remains sky-high amid tightening supply, as the COVID-19 pandemic continues to play havoc on global supply chains and as suppliers race to build stockpiles of the battery metal and lock in better prices into the future.

JP Morgan updated its forecasts on the direction of the ASX lithium sector in December. The investment bank notes lithium prices outperformed internal expectations prompting it to upgrade baseline forecasts by 30-70% over 2022-23.

“Looking forward” JP Morgan says, “the demand outlook remains compelling, and it is hard to see a catalyst for prices to correct”.

The Australian lithium sector was a significant outperformer in 2021 with several names swooping returns in the triple digits.

As such, going forward JP Morgan is overweight on IGO Ltd (ASX: IGO) and Allkem Ltd (ASX: AKE), whilst remaining neutral on Pilbara Minerals Ltd (ASX: PLS) and Mineral Resources Limited (ASX: MIN).

Why is JP Morgan bullish on ASX lithium shares?

Analysts at the firm note that there is no change to its view of the lithium market “remaining in perpetual deficit”, and subsequently forecast a compound annual growth rate (CAGR) of 24% through until 2030.

Moreover, the broker says that EV sales momentum is driving ongoing positive sentiment across the sector, and ever-tightening markets appear to still be short of supply.

In the note from December last year, JP Morgan forecasts Lithium Carbonate and hydroxide seaborne contracts to gain 47% by the end of 2022, whereas it expects spodumene to rise by 71% per tonne by the same time.

This bullish momentum is likely to bode in well for ASX lithium shares, the broker says.

Out of its coverage, IGO is JP Morgan’s “key pick”, seeing as it screens “well from a valuation perspective” and offers attractive dividend forecasted yields circa 4%–6% in FY23–FY24.

The firm also says IGO recently added quality lithium assets to its portfolio via key investments in the Greenbushes spodumene mine and Kwinana hydroxide plant. This makes IGO a “one-stop stock for EV raw materials”.

While it likes fellow lithium player Allkem for its discount to valuation, the firm notes its near-term earnings multiples are relatively expensive “as it builds out its project pipeline with production to quadruple from FY21 levels over the decade”.

Not only that, but Allkem’s recently completed merger gives the newly formed entity access to more spodumene and brines.

This, alongside other growth levers, sees JP Morgan bake in a substantial dividend growth and return of assets (ROA) of 20% for the company in FY23/24.

What names is JP Morgan weary of?

Meanwhile, the firm isn’t as rosy on the Mineral Resources share price, and holds a neutral stance on the stock with a $46 per share price target.

However, it acknowledges that the company has crushing contracts with “some of the world’s largest mining companies in iron ore, gold and lithium operations, as well as its own operating assets”.

While the crushing business (CSI) has been the “long-term core business, [the company] has unlocked significant value in its lithium assets” it says.

Mineral Resources is also “ramping up production at its iron ore assets” according to the broker’s analysis. It remains neutral on the company on the grounds of valuation only.

Finally, Pilbara Minerals offers the greatest leverage to spodumene, the broker says, and also trades the cheapest on earnings multiples. It recently raised its Pilbara Minerals price target by 26% to $2.90, however, remained neutral on the shares, citing terms of valuation.

Lithium pricing by all accounts looks set to remain top heavy for the foreseeable future. This bodes in well for players within the industry alongside adjacent markets like battery technology, according to the broker.

The post What is JP Morgan saying about ASX lithium shares? appeared first on The Motley Fool Australia.

More reading

• 6 ASX shares involved with green metals
• These 3 ASX 200 shares are topping the volume charts on Wednesday
• LNG hit record highs in 2021 so why did the Santos (ASX:STO) share price struggle?
• The 5 best ASX lithium stocks of 2021
• How the Pilbara Minerals (ASX:PLS) share price surged 268% higher in 2021

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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The Imugene Limited (ASX: IMU) share price is sliding in negative territory today despite a positive company update.

At the time of writing, the immuno-oncology company’s shares are down 7.18% trading at 36 cents. It’s worth noting that Imugene shares have extended its losses to around 25% in the past month.

Imugene secures patent protection

Investors are selling off the Imugene share price amid the broader market slump in the S&P/ASX 200 Index (ASX: XJO) today. The benchmark index is currently down 1.87% to 7,424.1 points, erasing all of this week’s gains.

Nonetheless, Imugene provided the ASX with an upbeat announcement this morning, advising it had secured a patent in South Korea.

Approved by the South Korean Intellectual Property Office, the HER-Vaxx Immunotherapy patent will seek to further protect Imugene’s intellectual property.

HER-Vaxx immunotherapy is B-cell activating immunotherapy designed to treat tumours that over-express the HER-2/neu receptor. Currently in development, the company is designing HER-Vaxx immunotherapy to treat gastric, breast, ovarian, lung and pancreatic cancers.

South Korea has one of the highest incidence rates of gastric cancer across the globe, according to Imugene. Approximately one in five cases are considered to be HER2 positive. This makes the country a very attractive market for gastric cancer medications.

The patent protects the method of composition and method of use of Imugene’s HER-Vaxx immunotherapy for the next 15 years.

Notably, South Korea has been selected to conduct the next HERIZON Phase 2 clinical trial in 2022. The study will use HER-Vaxx in combination with chemotherapy or pembrolizumab in patients who have been diagnosed with gastric cancer.

Imugene managing director and CEO, Leslie Chong commented:

Attaining the key South Korean patent, on top of gaining protection in Japan and China in 2021, is a very important milestone. This will protect HER-Vaxx in the world’s largest HER-2 positive gastric cancer markets until 2036.

Imugene share price snapshot

Despite today’s fall, it has been a solid 12 months for the company’s investors, with the Imugene share price lifting 280%. Its shares reached an all-time high of 62.5 cents in November, before moving on a downhill trend.

Based on today’s price, Imugene has a market capitalisation of roughly $2.19 billion and approximately 5.77 billion shares on issue.

The post Imugene (ASX:IMU) share price backtracks 7% despite milestone update appeared first on The Motley Fool Australia.

More reading

• These are the 5 best performing ASX shares of 2021
• Why did Pro Medicus (ASX:PME) and 2 other ASX 200 healthcare shares fall today?
• Why is the Imugene (ASX:IMU) share price up 8% today?
• Here are the 5 best performing ASX biotech shares of 2021
• Here are the 3 most heavily traded ASX 200 shares this Tuesday

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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Finding ASX shares worth buying is always a hard task. Nothing is ever certain in life, and even less so in the ever-changing world of share market investing. That’s why it can often be worth paying attention to what some of the ASX’s top brokers and experts are saying. So today, let’s check out Adairs Ltd (ASX: ADH).

Adairs is an ASX retail share that specialises in homewares, bedding and linen. The Adairs share price has had a moderately pleasing past 12 months, rising by just over 13%. In saying that, it has spent the past 6 months going backwards, falling by 3.2% since last July.

As it stands today, Adairs is currently trading at a share price of $3.92, down a nasty 3.2% so far today.

Even so, Adairs is currently being rated as a ‘buy’ by a couple of top ASX brokers.

Top ASX brokers rate Adairs share price as a buy

The first is investment bank Goldman Sachs. Goldman currently rates Adairs as an ASX buy, with a 12-month share price target of $5.11. That’s almost 30% above the share price of $3.92 that Adairs shares are asking today. Goldman likes Adairs’ strong presence both in the physical and online retail spaces, as well as its current valuation.

But Goldman isn’t the only broker rating Adairs shares as a buy right now.

As my Fool colleague James covered last week, fellow broker UBS is also bullish, even more so than Goldman. UBS currently gives Adairs shares a 12-month share price target of $5.90. That implies a potential future upside of close to 50% on today’s pricing. UBS is eyeing potentially large dividend income from Adairs shares. It is expecting a full year and a fully franked dividend of 19.6 cents per share in FY2022, and 29.9 cents per share for FY23. The latter would represent a forward yield of almost 7.6% on today’s share price.

No doubt investors will be crossing their fingers that these broker opinions become fact over the next year or so.

At the current Adairs share price, this ASX retailer has a market capitalisation of $692.1 million, with a price-to-earnings (P/E) ratio of 10.99 and a dividend yield of 5.84%.

The post A top broker reckons this ASX retail share is a buy with a 50% upside appeared first on The Motley Fool Australia.

More reading

• 2 ASX dividend shares with yields of more than 8%
• 2 ASX dividend shares to buy in January
• Top ASX shares to buy in January 2022
• 2 buy-rated ASX dividend shares with growing yields
• Here’s an under the radar ASX growth share with 22% upside

Motley Fool contributor Sebastian Bowen owns ADAIRS FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended ADAIRS FPO. The Motley Fool Australia owns 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 ASX is suffering today in what could be a reaction to a disastrous session in the United States. But, interestingly, one All Ordinaries Index (ASX: XAO) share has been thriving.

While most of Australia slept, the Nasdaq Composite Index (NASDAQ: .IXIC) tumbled 3.3%. Meanwhile, the S&P 500 Index (SP: .INX) slipped 1.9% and the Dow Jones Industrial Average Index (DJX: .DJI) slid 1%. This may have put substantial pressure on ASX shares, particularly those in the tech sector.

Right now, the S&P/ASX 200 Index (ASX: XJO) is down 1.87% and the S&P/ASX All Technology Index (ASX: XTX) has plunged 5.65% lower.

Meanwhile, the All Ordinaries Index is down 1.84%. So, which All Ords share has managed to dodge the carnage and soar to a new multiyear high?

This ASX All Ordinaries share is surging to new heights today

Earlier today, the Ridley Corporation Ltd (ASX: RIC) share price reached a high of $1.63 – the highest it’s been since 2015.

However, it has since dipped. Currently, it’s flat with its previous close, trading at $1.58. Though, that’s 20% higher than it was 30 days ago.

So, what might be saving the All Ordinaries livestock feed company’s stock from tumbling today? Let’s take a look.

What might be buoying the Ridley share price?

The last time the market heard price-sensitive news from Ridley – aside from during its annual general meeting – was when it released its results for the financial year 2021.

Then, the company announced it had returned to profitability. It posted increases to its earnings before interest, tax, depreciation, and amortisation (EBITDA) and a $24.8 million after-tax profit. And, according to some industry experts, its strong performance might continue this year.

The Australian Government’s latest Agriculture Overview forecasts the value of farm production will reach a record $78 billion over 2021/2022.

While Ridley doesn’t produce agricultural commodities, it works closely with those that do. Thus, what’s good news for farmers is likely to be good news for Ridley.

However, Ridley is far from the only ASX All Ordinaries share to be gaining today.

The company is joined in the green by Cyclopharm Limited (ASX: CYC) and Panoramic Resources Ltd (ASX: PAN), both recording gains of more than 6% today.

Meanwhile, some of the index’s tech shares, including Humm Group Ltd (ASX: HUM) (which became the subject of a takeover offer today) and Freelancer Ltd (ASX: FLN), are also trading higher.

The post This ASX All Ordinaries share has defied today’s sell-off to hit a new 6-year high appeared first on The Motley Fool Australia.

More reading

• 6 ASX shares involved with green metals
• Why BHP, Clinuvel, Latitude, and Peet shares are pushing higher
• These are the 5 worst performing ASX shares of 2021
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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 Freelancer Limited and Humm 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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