Last week saw a number of broker notes hitting the wires once again. Three buy ratings that caught my eye are summarised below.

Here’s why brokers think investors ought to buy them next week:

Blackmores Limited (ASX: BKL)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and $100 price target on this health supplements company’s shares. The broker notes that there is speculation Blackmores could be a takeover target. Based on other similar transactions, it feels that an offer of $105.00 per share could be made. Credit Suisse suggests that a large multinational that already has operations in Australia would be a suitable suitor. The Blackmores share price ended the week at $93.07.

Integral Diagnostics Ltd (ASX: IDX)

A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this diagnostic imaging services provider’s shares to $5.55. This follows news that the company has agreed to acquire The X-Ray Group for $37.5 million. Citi was pleased with the price paid and expects the deal to be upwards of 5% accretive to earnings per share. In light of this, it has upgraded its earnings estimates and price target accordingly. The Integral Diagnostics share price was fetching $5.06 on Friday.

Liontown Resources Limited (ASX: LTR)

Analysts at Macquarie have retained their outperform rating and $1.70 price target on this lithium developer’s shares. According to the note, Macquarie is bullish on lithium prices thanks to strong demand in China and Liontown is one of its top two picks in the sector. It also sees a number of near term catalysts that could boost its shares. This includes the securing of offtake and funding agreements for the Kathleen Valley lithium project. The Liontown Resources share price ended the week at $1.36.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX lithium shares in September
• Why is the Blackmores (ASX:BKL) share price slumping 4% today?
• Which ASX shares are the top movers in the ASX 300 today?
• 5 things to watch on the ASX 200 on Friday
• Why is the Liontown (ASX:LTR) share price sinking 6% today?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended Integral Diagnostics 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 Bank of Queensland Limited (ASX: BOQ) share price has pushed higher over the past decade, up around 40%. In comparison, the S&P/ASX 200 Index (ASX: XJO), is up around 85% over the same time frame.

During October 2019, Bank of Queensland shares were hovering around today’s levels, before freefalling thereafter. While the regional banks’ shares have somewhat recovered, they are still a long way off 2015’s record high $13 mark.

Nonetheless, we wind the clock back and see how much an investor would have made if they had invested $1,000 in Bank of Queensland shares a decade ago.

How much would your initial investment be worth now?

If you spent $1,000 on Bank of Queensland shares exactly 10 years ago, you would have picked them up for $6.45 apiece. The purchase would deliver approximately 155 shares without reinvesting the dividends.

Looking at Friday’s closing price, the Bank of Queensland share price finished at $9.23. This means those 155 shares would be worth $1,430.65 (155 shares x $9.23).

In percentage terms, the initial investment implies a gain of around 43.07% or a yearly average return of 3.65%. Comparing that to the ASX 200, the benchmark index has given back 6.22% over a 10-year period.

And the dividends?

Over the course of the last decade, the Bank of Queensland has made a total of 19 dividend payments from 2011 to 2021. Its most recent dividend distributions were significantly reduced due to the pandemic severely affecting its operations and bottom line.

Adding those 19 dividends payments gives us an amount of $6.08 per share. Calculating the number of shares owned against the total dividend payment gives us a figure of $942.40 (155 shares x 6.08).

When putting both the initial investment gains and dividend distribution, an investor would have made roughly $2,373.05.

Bank of Queensland share price snapshot

Over the past 12 months, the Bank of Queensland share price has moved 65% higher and is up around 20% year to date.

Bank of Queensland presides a market capitalisation of roughly $5.92 billion, with more than 640 million shares on its registry.

The post If you invested $1,000 in Bank of Queensland (ASX:BOQ) shares a decade ago, here’s what it would be worth now appeared first on The Motley Fool Australia.

More reading

• Why Bank of Queensland (ASX:BOQ) shares are up 66% in the past 12 months
• The ASX 200 banks may be in danger as half of mortgage-stressed households have “borrowed to the hilt”
• Confirmed: APRA is planning action on home loans, ASX 200 banks drop
• These experts believe the future is bright for the Bank of Queensland (ASX:BOQ) share price
• How has the Bank of Queensland (ASX:BOQ) share price been performing since reporting results?

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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The weekend could be a good time to start thinking about ASX shares that may be able to benefit from the reopening play in Australia’s two biggest cities.

Some businesses have had their store profit impacted for a number of months. But they could change in the coming weeks with both NSW and Victoria expected to lessen restrictions.

The below two ASX shares could be opportunities to consider:

City Chic Collective Ltd (ASX: CCX)

City Chic is a retailer of plus-size clothing, footwear and accessories. It has a store network across Australia and New Zealand, but it also has businesses and partnerships in the northern hemisphere as well.

It’s currently rated as a buy by the broker Morgan Stanley. The price target is $6.65, that suggests the City Chic share price could increase by around 5% over the next 12 months, if the broker is right. Morgan Stanley is encouraged by the recent performance of Torrid, one of City Chic’s rivals in the US.

Despite all of the impacts of COVID-19 during FY21, it reported double digit growth. Sales revenue rose 32.9% to $258.5 million. The various profit levels grew faster – underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 59.8% to $42.4 million whilst underlying net profit rose 80.6% to $24.9 million.

A key move by the ASX share during the year was buying the Evans online and wholesale business in the UK. That has made City Chic the market leader in the country. Management said the first six months of trading were pleasing, with operations profitable over the period. The integration is now complete and inventory levels are back to a commercial level.

It also bought Navabi, a European plus-size business that predominately operates in Germany.

The first eight weeks of FY22 saw continued “strong” positive top line and comparable sales growth.

Morgan Stanley puts the City Chic share price at 35x FY23’s estimated earnings.

Reject Shop Ltd (ASX: TRS)

The Reject Shop is a business with a national network of discount stores.

Morgan Stanley also believes that Reject Shop shares are a buy, with a price target of $10.

The broker believes that once restrictions lift, the ASX share will be able to perform better over the next couple of years.

Morgan Stanley liked the FY21 result.

Despite sales falling by 5.1% to $778.7 million, profitability across the business increased significantly. During the year, Reject Shop reduced its cost of doing business (CODB) by approximately $22.5 million. Of that total, $8.8 million came from administrative expenses and $13.7 million from store expenses.

Some of the savings achieved by the ASX share will be re-invested to improve technology and systems across the business as it prepares for growth. At a store level, Reject Shop said that the simplification and standardisation of in-store processes during the year were main drivers of store labour reducing to 13.9% of sales, compared to 14.5% in the prior corresponding period.

Reject Shop’s underlying earnings before interest and tax (EBIT) increased 110% to $9.4 million, whilst underlying net profit jumped 134% to $6.4 million.

During FY21, the company opened 10 new stores and closed three years. In FY22 it’s expecting to open a further 20 stores, whilst closing five unprofitable or underperforming stores.

However, the international supply chain continues to result in higher shipping costs.

The Reject Shop share price is valued at 14x FY23 estimated earnings.

The post 2 ASX shares that may be worth researching this weekend appeared first on The Motley Fool Australia.

More reading

• Up 116% in a year, is the City Chic (ASX:CCX) share price good value?
• 3 beaten-up ASX shares that are exciting us: experts
• These 2 ASX shares have been named as good opportunities
• Wilson Asset Management (WAM) thinks these 2 top ASX shares are a buy
• These three ASX retail shares delivered double (and triple!) digit returns in 2021

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 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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September was a difficult month for the S&P/ASX 200 Index (ASX: XJO). The benchmark index lost a disappointing 2.6% of its value during the month to finish the period at 7,332.2 points.

One area of the market that was reasonably resilient was the banking sector. Here are a few highlights from the month:

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price was the best performer among the major banks with an impressive 9.1% gain. The catalyst for this was the release of a trading update from the investment bank. According to the release, Macquarie expects its first half profits to be down slightly on the second half of FY 2021. This was significantly better than the market was expecting and led to Ord Minnett retaining its accumulate rating and lifting its price target to $190.00.

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price was a solid performer in September, rising 4.2% over the 30 days. This was despite there being no news out of Australia’s largest bank. Though, with its shares pulling back since the middle of August, some investors may have been topping up their positions. Particularly given how Bell Potter has a buy rating and $118.00 price target on its shares.

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

The ANZ share price beat the market decline with a modest 1.1% gain during the month. The only real announcement out of the bank last week was its ESG update. That update revealed how the banking giant is complying with the push towards a sustainable and diverse business model. ANZ highlighted that it has funded and facilitated $14 billion of sustainable finance.

Westpac Banking Corp (ASX: WBC)

The Westpac share price wasn’t far behind with a 0.7% gain in September. This was despite the bank revealing that its deal to sell its Pacific businesses to Kina Securities Limited (ASX: KSL) for up to $420 million was blocked by regulators. This ultimately led to Australia’s oldest bank pulling the plug on the deal.

The post These were the best performing ASX bank shares in September appeared first on The Motley Fool Australia.

More reading

• Why CBA, Mount Gibson, Pilbara Minerals, & Virgin Money shares are dropping
• Why the CBA (ASX:CBA) share price is down 4% today
• Top ASX shares to buy in October 2021
• 2 ASX 200 dividend shares named as buys for October
• The CBA (ASX:CBA) share price is underperforming against the big four banks today

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and 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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The market may have tumbled lower in September, but that didn’t stop a number of shares in the lithium sector from charging higher.

Among the movers, a few really stood out. Here’s why these were the best performing lithium shares in September:

Ioneer Ltd (ASX: INR)

The Ioneer share price was the best performer among the lithium miners last month with a 54% gain. Some of this appears to have been driven by the announcement of an agreement to form a joint venture with Sibanye Stillwater to develop the flagship Rhyolite Ridge Lithium-Boron Project in Nevada, USA. According to the release, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the joint venture. Ioneer will maintain a 50% interest and retain operatorship. The agreement also gives Sibanye-Stillwater an option to participate in 50% of the North Basin operation.

Liontown Resources Ltd (ASX: LTR)

The Liontown Resource share price was a strong performer last month with a 48% gain. There were a few catalysts for this gain. One was news that the emerging lithium producer is planning to separate its non-lithium assets in the coming weeks. This will allow the company to focus on its wholly-owned Kathleen Valley Lithium Project. Another positive supporting its shares was its addition to the ASX 300 index at the quarterly rebalance.

Novonix Ltd (ASX: NVX)

The Novonix share price wasn’t far behind with a 47% gain. Investors have been buying the battery technology company’s shares since it announced an agreement with Phillips 66 in August. That agreement saw the US energy giant acquire a 16% stake in Novonix. Phillips 66 expects the deal to support its development of an entirely domestic supply chain for the growing US electric vehicle (EV) market. Whereas Novonix revealed that the investment will provide it with the capital needed to support growth and ongoing R&D. This includes the scaling of its synthetic graphite production and the development of new technologies for higher-performance energy storage applications. Novonix was also added to the ASX 300 index.

AVZ Minerals Ltd (ASX: AVZ)

The AVZ share price was on form and surged 37% higher in September. A key driver of this gain was an announcement late in the month from the lithium developer. AVZ announced a transaction implementation agreement with Suzhou CATH Energy Technologies (CATH) that will see CATH pay US$240 million in cash for a 24% equity interest in a multi-faceted joint venture to develop the Manono Lithium and Tin Project. CATH will also contribute its pro rata portion of funding for the development of the project in the Democratic Republic of the Congo.

The post These were the best performing ASX lithium shares in September appeared first on The Motley Fool Australia.

More reading

• Why the Novonix (ASX:NVX) share price rocketed 47% higher in September
• Which ASX 300 shares are leading the way mid-week?
• Why the Novonix (ASX:NVX) share price is climbing among a sea of red on Wednesday
• Which ASX shares are the top movers in the ASX 300 today?
• Why AVZ, Flight Centre, Fortescue, & Sigma shares are storming 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. 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 Woodside Petroleum Limited (ASX: WPL) share price is currently rated as a buy by one of the leading brokers.

That broker is UBS.

The price target on Woodside is $25.50. That suggests that the broker believes Woodside shares could rise more than 7% over the next 12 months, if the broker is right.

Expectations of a rising oil price are leading to the broker believing that Woodside can generate more profit.

Using the current estimates, UBS puts the Woodside share price at 16x FY21’s estimated earnings with a potential grossed-up dividend yield of 9.2%.

What is going on for Woodside Petroleum?

Woodside announced a game-changing move in the middle of August 2021.

It revealed that it was going to merge with the oil and gas business of BHP Group Ltd (ASX: BHP). This deal would create a global top 10 independent energy company by production.

Woodside will be issuing new shares to be distributed to BHP shareholders. The expanded Woodside would be owned 52% by existing Woodside shareholders and 48% by existing BHP shareholders.

This merger will create a business that has a “high margin oil portfolio, long life LNG assets and the financial resilience to help supply the energy needed for global growth and development over the energy transition.”

Woodside also broke down some of the reasons and benefits of the deal:

• Greater scale and diversity of geographies, products and end markets through an attractive and long-life conventional portfolio.
• Resilient, high margin operating cashflows to fund shareholder returns and business evolution to support the energy transition.
• Strong growth profile with a plan to achieve targeted Scarborough final investment decision in the 2021 calendar year and capacity to phase the most competitive, high-return options within the portfolio.
• Estimated synergies of more than US$400 million per annum from optimising corporate processes and systems, leveraging combined capabilities and improving capital efficiency on future growth projects and exploration.

This merger could have an important impact on the Woodside Petroleum share price if/when it goes ahead.

HY21 result

Woodside has a financial year that lines up with the calendar year. So, in August it reported its half-year result.

That result showed that it recorded a half-year net profit after tax (NPAT) of US$317 million. Underlying net profit after tax was US$354 million, up 17% on HY20. Operating revenue increased 31% year on year to US$2.5 billion thinks to higher prices, with sales volume increasing 6% to 53.9 million barrels of oil equivalent for the half.

It also generated $1.32 billion of operating cashflow and free cashflow of $311 million.

Based on that result, the directors decided to declare an interim dividend of US$0.30 per share, which was a payout of approximately 80% of underlying net profit after tax.

Longer-term valuation on the Woodside Petroleum share price

UBS thinks that Woodside shares are valued at 14x FY22’s estimated earnings, with a projected forward grossed-up dividend yield of 12.5%.

The post The Woodside Petroleum (ASX:WPL) share price is a buy – broker appeared first on The Motley Fool Australia.

More reading

• Guess which sector September’s top performing ASX 200 shares all came from
• These were the 5 best performing ASX 200 shares in September
• 5 things to watch on the ASX 200 on Friday
• It’s been a great week so far for the Woodside (ASX:WPL) share price
• These 2 ASX shares have been rated as buys by leading brokers

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 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 Australian share market is home to a number of companies growing at a rapid rate.

Three that could be well-placed to grow strongly over the 2020s are listed below. Here’s what you need to know about these growing shares:

Bigtincan Holdings Ltd (ASX: BTH)

The first growth share to look at is Bigtincan. It is a leading sales enablement platform provider that has been growing strongly in recent years. For example, in FY 2021, the company reported a 48% increase in annualised recurring revenue (ARR) to $53.1 million. Positively, even stronger growth is expected in FY 2022. This is thanks partly to its acquisition of US-based Brainshark. It is an industry-recognised and multi-awarded leader in its field of sales coaching, learning and readiness. Management expects combined ARR of $119 million in FY 2022, which will be up 124% year on year.

Morgan Stanley is very positive on the company. It currently has an overweight rating and lofty $2.10 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service provider connecting consumers with trusted tradies. It currently boasts over 34,000 tradies using the platform and is generating significant leads for them. For example, in FY 2021, the company reported a 12% increase in job volumes to 1.53 million. This helped underpin a 22% increase in full year revenue to $55.8 million. This is well short of the total addressable market (TAM) of the tradie ecosystem, which is estimated to be $110 billion across the residential and commercial sectors.

Goldman Sachs currently has a buy rating and $4.35 price target on its shares.

IDP Education Ltd (ASX: IEL)

A final ASX growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services. While COVID-19 was a big blow for the company, it is expected to come out of the crisis with a much stronger market position. Especially following its key acquisition in the lucrative India market. As a result, analysts are tipping the company to grow at a very strong rate over the coming years.

UBS is positive on IDP Education and has a buy rating and $36.40 price target on its shares.

The post 3 rapidly growing ASX shares to buy in October appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in October 2021
• Bigtincan (ASX:BTH) share price dips despite new contract
• The IDP Education (ASX:IEL) share price just hit an all-time high. Here’s why
• 3 ASX shares with bags of potential
• 3 rapidly growing ASX tech shares to buy

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 BIGTINCAN FPO, Hipages Group Holdings Ltd., and Idp Education Pty Ltd. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) was well and truly out of form last week. The benchmark index lost 2% of its value and ended the period at 7,185.5 points.

While a good number of shares tumbled lower with the market, some fell more than most. Here’s why these were the worst performers on the ASX 200 last week:

NEXTDC Ltd (ASX: NXT)

The NEXTDC share price was the worst performer on the ASX 200 last week with a decline of 12.7%. This was despite there being no news out of the data centre operator. However, tech shares were sold off last week amid the market volatility. This was especially the case for tech shares trading on high multiples like NEXTDC.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price was out of form and tumbled 9.9% lower last week. This mining and mining services company’s shares were the subject of a bearish broker note last week out of Morgan Stanley. According to the note, the broker has retained its underperform rating and cut its price target on Mineral Resources’ shares to $41.00. The broker thinks investors should stay away from miners with exposure to low grade iron ore.

Afterpay Ltd (ASX: APT)

The Afterpay share price wasn’t far behind with a decline of just under 9.9% over the five days. This decline was driven by weakness in the Square share price last week. The payments giant’s shares lost 9.5% of their value over the Friday to Thursday (24 to 30 September) trading sessions. And as Square is acquiring Afterpay in an all-scrip deal, the value of the takeover changes with the Square share price.

HUB24 Ltd (ASX: HUB)

The HUB24 share price was out of form and dropped 9.6% over the period. Significant weakness in the tech sector even offset a bullish broker note out of Citi last week. According to that note, the broker has retained its buy rating and $32.00 price target on HUB24’s shares. It believes the investment platform provider is well-placed to grow its earnings at a strong rate over the medium term.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• The Flight Centre (ASX:FLT) share price is in the green today. Here’s why
• Why the Webjet (ASX:WEB) share price is on the rise today
• ASX 200 (ASX:XJO) midday update: Gold miners jump, Pro Medicus wins contract

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Hub24 Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Hub24 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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In the current economic environment, interest rates are at all-time lows. The current cash rate is sitting at just 0.1%, which is pretty much zero for all intents and purposes.

That means traditional ‘safe’ investments like savings accounts and term deposits aren’t offering anything close to the yields they used to. So, what are investors to do if they want to at least keep up with inflation? ASX dividend shares could be the answer.

There are more than a few dividend shares offering fully franked yields of 5% or more today. Here are two of them.

2 ASX dividend shares with fully franked yields of more than 5%

Telstra Corporation Ltd (ASX: TLS)

Telstra is our first ASX dividend share to check out today.

This ASX 200 telco has long been known for its income-producing qualities, and it’s no different today. Telstra has paid out an annual dividend of 16 cents per share, fully franked, for a few years now. Further, it has indicated that maintaining or even increasing this dividend is on the cards in 2022.

So, with this 16 cents per share payout, Telstra shares are currently offering up a dividend yield of 4.1% on recent pricing. That is a pleasing grossed-up dividend yield of 5.86% if you include the value of those full franking credits.

WAM Research Limited (ASX: WAX)

Another ASX share to check out today is the listed investment company (LIC) WAM Research.

This LIC invests in a portfolio of small and mid-cap shares with an industrial bent. It currently holds companies like Webjet Limited (ASX: WEB), Codan Limited (ASX: CDA) and Nextdc Ltd (ASX: NXT). WAM Research has amassed a reputation as a payer of hefty dividends over the past decade or so.

Its past two shareholder payments were 4.9 and 4.95 cents per share respectively. That gives this company a dividend yield of 5.63% on recent pricing. Gross that up with the full franking credits that WAM Research typically pays, and we get a gross yield of 8.04%.

The post 2 ASX dividend shares with fully franked yields of more than 5% today appeared first on The Motley Fool Australia.

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• Did Optus just get a better deal than Telstra (ASX:TLS) for its towers?
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• 3 reasons why the Telstra (ASX:TLS) share price could be a buy
• Telstra (ASX:TLS) share price lifts as CFO reiterates confidence in dividend growth
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Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Limited and WAM Research 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 owns shares of 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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It was a very volatile five days for the S&P/ASX 200 Index (ASX: XJO) last week. The benchmark index ultimately shed 2% of its value to end the period at 7,185.5 points.

The good news is that not all shares dropped with the market. Here’s why these were the best performers on the ASX 200 last week:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price was the best performer on the ASX 200 last week with a 19.8% gain. Investors were buying the energy producer’s shares following the release of an investor update. Beach has outlined its low risk strategy to achieving production of 28 MMboe by FY 2024. This will be a 27% increase on the midpoint of its FY 2022 production guidance of 21 to 23 MMboe. Management also advised that this target doesn’t include exploration upside and pre-final investment decision projects.

Orica Ltd (ASX: ORI)

The Orica share price wasn’t far behind with a gain of 17.5% over the five days. The catalyst for this was a positive response from brokers to the commercial explosives company’s trading update. One of those brokers was Morgans. According to the note, the broker has upgraded Orica’s shares to an add rating with a $13.70 price target. Morgans said: “We think the earnings downgrade cycle which have plagued ORI for the last few years is now finally over.”

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price was on form and charged 10.2% higher last week. Investors were buying travel shares thanks to the positive progress being made with the vaccine rollout and the announcement of state reopening plans. The Federal Government’s announcement of a return to international travel also gave Flight Centre’s shares a boost on Friday when the market tumbled.

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price was a strong performer and charged 9.4% higher over the five days. This appears to have been driven by a broker note out of Citi. According to the note, the broker suspects that there could be more bad news looming for the infant formula company. However, it also suspects that any share price weakness could lead to a takeover approach. The broker has a buy rating and $7.20 price target on a2 Milk’s shares.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most active ASX 200 shares this Friday
• The Flight Centre (ASX:FLT) share price is in the green today. Here’s why
• Why the Webjet (ASX:WEB) share price is on the rise today
• ASX 200 (ASX:XJO) midday update: Gold miners jump, Pro Medicus wins contract

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 A2 Milk and Flight Centre Travel 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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