With interest rates likely to remain at low levels for some time to come, dividend shares may remain the best way to generate a passive income for a while yet.

But which dividend shares should you consider? Two that have been given buy ratings are listed below:

Coles Group Ltd (ASX: COL)

The first ASX dividend share to look at is Coles. It could be a quality option due to its strong market position, cost cutting and automation plans, and its favourable dividend policy.

And while its sales and earnings may go in reverse in the immediate term due to elevated sales from a year earlier, it is expected to return to growth again once the tough comparables ease.

Goldman Sachs expects this to be the case and is forecasting solid dividend growth in both FY 2021 and FY 2022. The broker has pencilled in fully franked dividends per share of 62 cents per share in FY 2021 and then 67 cents per share in FY 2022.

Based on the latest Coles share price of $17.05, this will mean yields of 3.6% and 3.9%, respectively. Goldman has a buy rating and $19.40 price target on the supermarket giant’s shares.

Transurban Group (ASX: TCL)

Another ASX dividend share to consider is Transurban. It is one of the world’s leading toll road operators that owns a portfolio of key roads across Australia and North America.

Although traffic volumes have been under pressure because of the pandemic, they continue to improve as restrictions ease and mobility increases. This bodes well for its distributions in the coming years after lower than normal payouts because of COVID-19.

One broker that remains positive on Transurban and is expecting it distributions to rebound strongly is Macquarie. Last week it put an outperform rating and $15.20 price target on the company’s shares.

Macquarie is forecasting dividends of 36 cents per share in FY 2021 and then 59.1 cents per share in FY 2022. Based on the latest Transurban share price of $14.49, this will mean yields of 2.5% and then 4.1%.

The post 2 excellent ASX dividend shares rated as buys appeared first on The Motley Fool Australia.

More reading

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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 owns shares of and has recommended COLESGROUP DEF SET. 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 Rio Tinto Limited (ASX: RIO) share price could be on the rise on Monday.

This follows the release of a bullish broker note out of Goldman Sachs this morning in relation to the mining giant.

What did Goldman say about the Rio Tinto share price?

According to the note, the broker sees a lot of value in the Rio Tinto share price at the current level.

The note reveals that its analysts have upgraded the mining giant’s shares to a buy rating with a $144.40 price target. Based on the latest Rio Tinto share price, this implies potential upside of 10.5% excluding dividends.

But if you include dividends, this potential return stretches materially. Goldman estimates that Rio Tinto’s shares will provide fully franked yields of 14.1% in FY 2021, 13.9% in FY 2022, and then 11.2% in FY 2023.

Why is the broker bullish?

Goldman notes that Rio Tinto had a disappointing second quarter and fell short of its expectations for iron ore shipments. And while it suspects that it could yet underperform its guidance in FY 2021 due to operational challenges, this has been offset by the broker’s iron ore forecasts.

It explained: “Our commodities team now expects the iron ore market to return to surplus in 2023 only and have upgraded 2H21 Fe to US$195/t (US$117/t previously), and 2022 to US$160/t (US$95/t previously), and highlight ongoing steel mill preference for mid-high grade over low grade.”

Goldman believes this will lead to strong free cash flow generation and underpin generous dividend payments.

The broker commented: “Although we are calling for a c. US$60/t or 30% drop (from spot) in iron ore prices into 2022, we forecast record FCF/dividends in 2021 (18%/14% yield) & 2022 (16%/14%). RIO is not a growth story (we forecast -4% Cu Eq growth for RIO at the group level in 2021) it is a FCF story in our view.”

It also feels the Rio Tinto share price is undervalued compared to historical multiples at peak earnings.

Goldman explained: “On an EV/EBITDA basis, 1-2yr multiples for RIO look strong at 3-3.5x, below the 4-5x level in 2011 when earnings last peaked, yet RIO’s balance sheet and FCF look much stronger now.”

All in all, this could make it worth considering if you’re not averse to investing in the resources sector.

The post Rio Tinto (ASX:RIO) share price on watch after broker upgrade 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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There is a group of ASX shares with dividend yields of more than 5%. That means that $1,000 invested could produce an annual income of more than $50 from that investment.

Higher dividend yields may not always be desirable. It could mean a high dividend payout ratio, which leaves less profit for re-investment for growth. A lower valuation can also lead to a higher yield, but a lower price/earnings ratio can also have implications.

However, there are some ASX dividend shares that have both a high dividend yield and are generating underlying growth:

Pacific Current Group Ltd (ASX: PAC)

Pacific describes itself as a multi-boutique asset management outfit dedicated to providing exceptional value to shareholders, investors and partners. It applies its strategic resources, including capital, institutional distribution capabilities and operational expertise to help its partners grow. At the end of April 2021, it had 15 boutique asset managers globally.

It’s currently rated as a buy by the broker Ord Minnett. It has a price target on Pacific Current of $6.70, which suggests the share price could increase by more than 10% over the next 12 months.

Pacific continues to see growth of its funds under management (FUM). This can help increase the underlying profitability of the business (excluding the impacts of performance fees year to year).

In the quarter ended 31 March 2021, its total FUM rose 8.9%. Including the new investment in Astarte Capital Partners, FUM went up by 9.3%.

Pacific said that it continues to see “strong” inflows across the portfolio, including GQG, ROC, Carlisle, Proterra and Victory Park.

At the time of the quarterly update, Pacific Current Paul Greenwood said:

While GQG continued to post large FUM gains, we were again encouraged by the breadth of growth across the portfolio. As we emerge from the pandemic it appears that many of our portfolio companies are very well positioned to grow, and as a result we expect continued capital raising success in 2021 and 2022.

According to Ord Minnett, at the current Pacific Current share price, the ASX dividend share offers a projected grossed-up dividend yield of 9% for FY22.

Accent Group Ltd (ASX: AX1)

Accent is a large shoe business in Australia which sells through a wide variety of stores and has a number of exclusive distribution agreements in the country.

The company has a number of different initiatives to continue growing its revenue and margins.

Accent is looking to increase its percentage of sales made online to 30% over time.

It’s looking to continue to rollout more stores to increase its customer reach and grow economies of scale. Accent was expecting to open at least 90 new stores in FY21 across all banners. It’s going to keep opening stores in FY22. 

The ASX dividend share expects The Athlete’s Foot franchise buyback program to recommence from late 2021. The Athlete’s Foot continues to improve its gross profit margin with distributed brands and vertical products. It’s also opening more stores across its different brands. For example, 12 to 15 PIVOT stores are expected to be trading by June 2021. The Stylerunner store in Armadale is/was performing well ahead of expectations and the company expected four Stylerunner stores to be trading by June 2021.

In the first eight weeks of the second half of FY21, like for like retail sales were up 10.7% on the prior corresponding period.

Regarding dividends, Accent says it continues to be defined by “strong cash conversion and the consistent strong returns it delivers on shareholders’ funds.”

According to Commsec, at the current Accent share price, it offers a forecast FY21 grossed-up dividend yield of 6.6%.

The post 2 ASX dividend shares that could be buys with yields above 5% appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison owns shares of PACCURRENT FPO. 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 Accent Group. 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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On Friday the S&P/ASX 200 Index (ASX: XJO) finished a solid week in a positive fashion. The benchmark index rose 0.2% to 7,348.1 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to sink

The Australian share market is expected to start the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.5% lower. This follows a poor end to the week on Wall Street, which saw the Dow Jones fall 0.85%, the S&P 500 drop 0.75%, and the Nasdaq tumble 0.8%.

Oil prices rise

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be no watch today after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 0.2% to US$71.81 a barrel and the Brent crude oil price has risen 0.15% to US$73.59 a barrel. Traders were buying oil after US inventories declined. However, news that OPEC plans to completely end production cuts by September 2022 could weigh on prices once oil markets open again.

SEEK downgraded

The SEEK Limited (ASX: SEK) share price could come under pressure today. This follows a broker note out of Goldman Sachs which reveals that its analysts have downgraded SEEK shares to a sell rating with an improved price target of $30.80. It made the move on an uncertain ad volume outlook and elevated valuation.

Gold price falls

Gold miners including Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could come under pressure today after the gold price dropped on Friday night. According to CNBC, the spot gold price fell 0.8% to US$1,815 an ounce. The gold price retreated from a one-month high after the US dollar strengthened.

Rio Tinto upgraded to buy rating

The Rio Tinto Limited (ASX: RIO) share price could be great value according to analysts at Goldman Sachs. Although the mining giant fell short of its expectations in the fourth quarter, the broker has still upgraded its shares to a buy rating with a $144.40 price target. The broker made the move after adjusting its iron ore and free cash flow forecasts. Goldman believes this will allow double digit dividend yields for the next three financial years.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK 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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This weekend could be a time to research some quality ASX shares.

Shares have a good long-term track record of being able to grow over time. But who knows what’s going to happen next in the short-term?

Businesses that are growing earnings give themselves a good chance of producing shareholder returns.

These two potential investments might be ones worth thinking about:

Betashares Global Cybersecurity ETF (ASX: HACK)

BetaShares points out that there has been a large increase in online activity and information technology in recent years. But there has also been a strong growth in cybercrime.

Cybersecurity is important to keep governments, companies and households safe around the world. Key information is kept online.

This exchange-traded fund (ETF) is about providing investors an easy way to get exposure to a group of the world’s leading cybersecurity companies.

Some of the businesses in the portfolio are world leading providers of virus protection and intrusion detection systems. BetaShares also pointed out that Cisco Systems is a leading world supplier of computer networking equipment, with a lot of experience in developing associated security systems.

The biggest positions in the portfolio include: Zscaler, Crowdstrike, Accenture, Okta, Cisco Systems, Cloudflare, Fortinet, Varonis Systems, Splunk and Palo Alto Networks.

Past performance is not an indicator of future performance, but since inception in August 2016 the ASX share has delivered an average return per annum of 21%.

Australian Ethical Investment Limited (ASX: AEF)

Australian Ethical is a fund manager that aims to enable people to get exposure to investments that have a positive impact without necessarily compromising returns. ‘Ethics’ is the starting point for the investment team.

Despite reporting continuing growth recently, the Australian Ethical share price has fallen around 18% since 25 May 2021.

Earlier this week, Australian Ethical gave a funds under management (FUM) update. It said that in the three months to 30 June 2021, Australian Ethical saw a 12% increase of FUM to $6.07 billion. That growth included $310 million of net flows, so almost half of that increase was driven by investors giving Australian Ethical more money to manage.

For the whole of FY21, Australian Ethical saw FUM growth of 56% from $4.05 billion to $6.07 billion. That included $1.03 billion of net flows.

The ASX share recently updated the market with its profit expectations for FY21.  It said that its emerging companies fund will pay a performance fee of $2.89 million after outperforming its benchmark.

The performance fee revenue less tax and the constitutional grant to the Australian Ethical Foundation adds to guidance of underlying profit after tax previously announced. FY21 underlying net profit after tax is expected to be between $10.7 million and $11.2 million, a mid-point increase of 18% on FY21.

The post 2 ASX shares that could be worth looking at this weekend appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Australian Ethical Investment Ltd. and BETA CYBER ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended Australian Ethical Investment 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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Are you interested in growth shares? Three to look closely at are listed below.

These three shares have been growing strongly in recent years and look well-placed for more of the same over the 2020s. Here’s what you need to know about these ASX growth shares:

Pushpay Holdings Group Ltd (ASX: PPH)

The first ASX growth share to look at is Pushpay. It is a leading donor management and community engagement platform provider for the faith sector. Pushpay has been growing at a rapid rate in recent years thanks to the accelerating digitisation of the church, the shift to a cashless society, and the overall quality of its offering.

Positively, this strong form continued in FY 2021, with Pushpay delivering a 40% increase in operating revenue to US$179.1 million and a 133% increase in EBITDAF to US$58.9 million. This was well-ahead of its original guidance, which was upgraded three times during the year. Further growth is forecast in FY 2022 and management is also planning to expand into a new market.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX growth share to look at is Australia’s leading online furniture and homewares retailer, Temple & Webster. It is has been growing at a rapid rate in recent years and particularly during the pandemic. The accelerating shift to online shopping led to Temple & Webster recently reporting a 112% increase in third quarter revenue and an increase in active customers to ~750,000.

The good news is that online furniture shopping is still in its infancy in comparison to other categories. This bodes well for the future, especially given Temple & Webster’s leadership position. Management is now investing heavily to take advantage of the shift and cement its position as the market leader.

Whispir Ltd (ASX: WSP)

A final ASX growth share to look at is Whispir. It is a software-as-a-service communications workflow platform provider. Whispir’s platform allows users to deliver actionable two-way interactions at scale using automated multi-channel communication workflows.

As with the others, Whispir has been experiencing strong demand over the last few years and this has continued in FY 2021. For example, its recent third quarter update revealed that its annualised recurring revenue (ARR) was up 20.3% over the prior corresponding period to $50.3 million. This was driven by continued growth in customers and increased usage.

Pleasingly, this is still well short of its total addressable market (TAM) opportunity. Management estimates that it has a TAM of US$4.7 billion in just United States. And with the company recently raising capital, it is well-funded to accelerate and execute its growth strategy and capture a growing slice of its market opportunity.

The post 3 ASX shares growing at a rapid rate 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 PUSHPAY FPO NZX, Temple & Webster Group Ltd, and Whispir Ltd. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia has recommended Temple & Webster Group Ltd and Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re wanting to overcome low interest rates, then you may want to look at the dividend shares listed below.

Both shares are expected to provide investors with generous yields that are vastly superior to those offered with term deposits and savings accounts.

Here’s what you need to know about these dividend shares:

South32 Ltd (ASX: S32)

The first ASX dividend share to look at is South32. It could be a top option for investors that are not averse to investing in the mining sector.

South32 has exposure to a range of commodities such as alumina, aluminium, energy coal, metallurgical coal, manganese ore, nickel, silver, lead, and zinc. The key commodity right now is arguably aluminium.

This is because analysts at Goldman Sachs believe aluminium is in the early stages of a multi-year bull market and expect South32 to benefit greatly. As a result, the broker has South32 shares on its conviction buy rating with a $3.80 price target. This compares to the latest South32 share price of $2.97.

As for dividends, Goldman is forecasting generous dividends in the near future. In FY 2021 it is expecting a yield in the region of 3.2%, whereas next year it is forecasting a yield over 8%.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share for income investors to look at is Telstra. Although its shares have recently hit a 52-week high, it may not be too late to invest.

This is due to its increasingly positive outlook being underpinned by sizeable cost cutting, restructuring, rational competition, and growth in the key mobile business.

Ord Minnett is very positive on Telstra and currently has a buy rating and $4.25 price target on its shares. The broker also continues to forecast 16 cents per share fully franked dividends for the foreseeable future.

Based on the current Telstra share price of $3.78, this will mean attractive yields of 4.2% over the coming years.

The post Why Telstra (ASX:TLS) and this ASX dividend share could be buys 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 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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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:

Bank of Queensland Limited (ASX: BOQ)

According to a note out of Macquarie, its analysts have resumed coverage on this regional bank’s shares with an outperform rating with a $10.00 price target. It is expecting Bank of Queensland’s deposit volumes to remain strong thanks to its higher interest rates. In addition, the broker believes the risk/reward from its acquisition of ME Bank, which has now complete, is favourable for investors. In light of this, it sees a lot of value in its shares at the current level. The Bank of Queensland share price ended the week at $8.85.

Life360 Inc (ASX: 360)

A note out of Bell Potter reveals that its analysts have retained their buy rating and lifted their price target on this family focused app maker’s shares to $9.25. Bell Potter increased its price target to reflect the recent takeover of a comparable company, Nextdoor, on much higher multiples. It believes Life360 is a higher quality company due to its stickier subscription revenues and thus deserves to trade on higher multiples. Though, it is worth noting that its price target still only equates to a forward EV/Revenue multiple of ~10x. Whereas Nextdoor was taken over at ~20x. The Life360 share price ended the week at $7.91.

Praemium Ltd (ASX: PPS)

Analysts at Ord Minnett have retained their buy rating and lifted their price target on this investment platform provider’s shares to $1.40. According to the note, the broker was pleased with the company’s performance in the fourth quarter. It also notes that Praemium has received strong interest for its international business, which it plans to sell. Ord Minnett believes selling this could make Praemium an attractive acquisition target for one of its larger domestic peers. The Praemium share price was fetching $1.19 at Friday’s close.

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

More reading

• Why the Life360 (ASX:360) share price hit a record and could go higher
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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 Life360, Inc. and Praemium Limited. The Motley Fool Australia has recommended Praemium 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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Once again, a large number of broker notes hit the wires last week. Some of these notes were positive and some were bearish.

Three sell ratings that caught my eye are summarised below. Here’s why top brokers think investors ought to sell these shares next week:

Computershare Ltd (ASX: CPU)

According to a note out of Citi, its analysts have retained their sell rating but lifted their price target on this share registry company’s shares to $15.00. Citi has downgraded its earnings estimates for Computershare to reflect a tough near term outlook and margin income weakness. It also has concerns that its guidance for FY 2022 could disappointment the market and weigh on its shares. The Computershare share price ended the week at $16.14.

Dacian Gold Ltd (ASX: DCN)

A note out of Macquarie reveals that its analysts have downgraded this gold miner’s shares to an underperform rating with a reduced price target of 28 cents. This follows a disappointing end to FY 2021, which led to Dacian Gold falling short of its guidance. But perhaps the biggest disappointment was the company’s capital expenditure guidance for Mt Morgans, which was significantly greater than Macquarie was anticipating. The Dacian Gold share price ended the week at 31 cents.

Wesfarmers Ltd (ASX: WES)

Another note out of Citi reveals that its analysts have retained their sell rating and $45.00 price target on this conglomerate’s shares. According to the note, the broker was expecting Wesfarmers to use its excess capital for acquisitions. However, it sees few synergies from its potential acquisition of Australian Pharmaceutical Industries Ltd (ASX: API). And while it sees the acquisition as a way to boost its post-pandemic growth, it feels it will need to make further investments to realise this. The Wesfarmers share price was fetching $59.12 at the end of the week.

The post Top brokers name 3 ASX shares to sell next week 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 owns shares of and has recommended Wesfarmers 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 Fortescue Metals Group Limited (ASX: FMG) share price has been performing well in July 2021. Since the start of the month it has gone up by around 10%.

Fortescue is one of the ASX’s biggest iron ore miners. It’s actually one of the biggest companies, of any sector, on the ASX with a market capitalisation of $79 billion according to the ASX.

The iron ore price is a major contributor to the profit that Fortescue can make each year. The iron ore price is close to its 2021 high with it currently at just over US$220 per tonne. A year ago it was around half that price.

Nicholas Snowdon, head of base metals and bulks research at Goldman Sachs, was recently talking at the Singapore Iron Ore Forum according to reporting by CNBC. Mr Snowdon said that prices are high with very strong demand and supply isn’t being increased by the miners. Inventories are also low.

The Goldman Sachs analyst suggested that it won’t be until at least 2023 that iron ore prices go back to more normal levels. He suggested there won’t be a price collapse and that prices could stay between US$100 to US$150 per tonne. He also said:

It would be wrong to say that the bull market for iron ore, you know, is on the cusp of ending.

Fortescue Future Industries (FFI)

In recent weeks, FFI has been making the headlines.

DRC

About a month ago the business referred to media talk regarding the company’s discussions with the Government of the Democratic Republic of Congo on the exclusive rights to develop the suite of Grand Inga Hydroelectric Projects, including the Matadi and Pioka projects.

FFI revealed that the DRC Government has invited interested corporations and governments to contact FFI if they have investment or service interest in the Inga Projects on the condition that personnel will be trained and sourced from the DRC as Fortescue has done in Australia.

The company confirmed that discussions have taken place with the DRC Government about the grant of exclusive rights to develop the Grand Inga suite of projects. No formal binding agreement has been concluded yet.

Green initiatives

Fortescue also updated investors on 6 July 2021 about how its initial decarbonisation projects are going.

It said it had achieved successful combustion of ammonia in a locomotive fuel, with a pathway to achieve completely renewable green fuel.

FFI has completed the design and construction of a combustion testing device for large marine (ship) engines, with pilot test work underway and a path to achieve completely renewable green shipping fuel. It has also finalised design of a next generation ore carrier (ship) that will consume renewable green ammonia.

It’s testing battery cells which aim to be used on Fortescue haul trucks.

The design and construction of hydrogen powered haul tracks and drill rigs for technology demonstration has been completed, with systems testing underway.

FFI has also achieved successful production of high purity (more than 97%) green iron ore from Fortescue ores at low temperature in a continuous flow process.

The final update was that it has achieved a successful initial trial to use waste from the green iron processes (noted above), with other “easily sourced materials”, to make green cement.

Where to next for the Fortescue Metals share price?

The brokers at Macquarie Group Ltd (ASX: MQG) are one of the few brokers that still have a buy rating on Fortescue and a share price target above the current share price.

Macquarie’s price target for Fortescue is $27.

The post July’s been a great month so far for the Fortescue Metals (ASX:FMG) share price appeared first on The Motley Fool Australia.

More reading

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• These 2 ASX dividend shares are offering trailing yields of 10% today
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Motley Fool contributor Tristan Harrison owns shares of Fortescue Metals Group 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 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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