The Washington H. Soul Pattinson (ASX: SOL) share price set a record high today, reaching a top of $33.62 intraday, before dropping down to $33.50 at market close.

Today’s trading volume of 348,200 is also 60% more than the 20 day average of 316,580 shares changing hands.

With no specific news out today, let’s take a look at what the diversified investment house has been up to recently.

Recent news

On 22 June 2021, the company announced its merger with investment manager Milton Corporation Limited (ASX: MLT).

The proposed merger will see Milton shareholders given a combination of Soul Pattinson’s scrips and three fully franked dividends worth up to 45 cents per share.

Combined, the offered scrips and dividends are worth $6 per share. Together, the two companies will create an ~$10.8 billion investment company. 

The Soul Patts share price had a muted reaction on the day of the news, lifting by 0.83%, but the following day rocketed by a substantial 8.46%.

Soul Pattinson share price snapshot

Soul Patts shares have a 52-week trading range of $19.10–$33.62. The company’s 52-week low occurred on 29 June 2020.

At the time of writing, the Soul Patts share price has climbed 10.36% year-to-date, and has jumped 9.7% over the past 5 days.

These capital gains have outpaced the S&P/ASX 200 Index (ASX: XJO)’s year-to-date return of 9.2%.

With a share price of $33.50 at the time of writing, Soul Pattinson has a market capitalisation of $7.92 million, and a price-to-earnings-ratio (P/E) of 8.09.

The post Soul Patts (ASX: SOL) share price hits all-time high appeared first on The Motley Fool Australia.

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• ASX 200 down, Woolworths falls, Costa acquires more farms
• Why are Soul Patts (ASX:SOL) shares surging 9% today?
• ASX 200 jumps, Soul Patts rises, Openpay soars
• Soul Patts (ASX:SOL) share price climbs higher on Milton merger

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 Washington H. Soul Pattinson and Company 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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We all know the ASX as a place to trade shares in some of Australia’s largest companies, but what about small-cap stocks?

The truth is that there are many small-cap shares you may not have even heard of before on the ASX. While these companies come with more risk to invest in than larger companies, often there’s greater opportunity for high growth.

These four ASX-listed small caps might not be as well known as their larger counterparts. However, their rapid sales growth in recent years is worth pointing out. Here they are…

4 ASX small-cap shares with high growth

Alicidion Group Ltd (ASX: ALC)

Alcidion is a small-cap company that offers a range of software products for use in the healthcare sector. Now boasting a market capitalisation of $440 million, the Melbourne-based company has undergone a period of significant growth over the past few years.

Over the past five years, Alcidion’s sales have grown an impressive 435% as it acquired complementary companies and expanded its product suite. More recently, contracted revenue to be recognised in FY21 was $24.7 million — exceeding the previous year by 33%.

This ASX small cap share is currently up 118% year-to-date (YTD).

Family Zone Cyber Safety Ltd (ASX: FZO)

Next on the list is Family Zone Cyber Safety. This small-cap company offers a range of products and services catering to the cybersecurity needs of families as well as schools — including cyberbullying protection for kids, parental monitoring software, as well as internet filtering solutions.

During the past five years, Family Zone’s revenue has increased from around $5,000 to more than $7 million. The company hopes to keep its high-growth engine running in the United States following the $5.8 million acquisition of Net Ref.

Family Zone is currently up 23.5% YTD with a market capitalisation value of $239 million at present time.

Calix Ltd (ASX: CXL)

Shifting gears, Calix has been developing patented solutions to address global sustainability challenges. These solutions range from wastewater treatment, CO2 mitigation, and renewable technologies.

In terms of its five-year growth trajectory, Calix’s revenue has increased 468% to $19.6 million during the 2020 calendar year. The underlying mission of the company is well-positioned if the environmental, social, and governance (ESG) trend continues.

For example, Adbri Ltd (ASX: ABC) entered into an agreement with Calix in March to co-develop a calciner for lime production with CO2 capture. A potential crackdown on emissions in the future would necessitate the kind of technology Calix works to develop.

This ASX small cap share is up 151% YTD with a market cap of $409 million.

Bigtincan Holdings Ltd (ASX: BTH)

That brings us to the last company on the list… Bigtincan. This small Australian company is a provider of sale enablement software. Its platform gives sales teams the toolset to increase performance and improve customer interactions.

In the last 5 years, Bigtincan’s revenue has grown roughly 409% to $35.7 million during the 2020 calendar year. This has been achieved via numerous acquisitions, each expanding the company’s product offering and client base.

Earlier this month Bigtincan announced the acquisition of augmented and virtual reality systems company, Vidinoti. At the same time, the software provider announced it had hit $53 million in annual recurring revenue (ARR).

Despite ARR growing 48% year-over-year, this ASX small cap share has only gained 5.5% YTD. At the time of writing, Bigtincan’s market cap is $462 million.

The post 4 fast-growing ASX small cap shares that you may have overlooked appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alcidion Group Ltd and BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool Australia has recommended Alcidion Group 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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Most weeks, Commonwealth Bank of Australia (ASX: CBA)’s share trading platform CommSec tells us the most popular US shares that its Australian user base has been buying and selling during the previous week.

Since CommSec is one of the most used ASX brokerage platforms in the country, its data can give us an interesting insight into the minds of Aussie investors. So here are the top 10 US shares that CommSec users were trading last week. This week’s data covers June 21-25.

Tesla back on top

1. Tesla Inc (NASDAQ: TSLA) – representing 4% of total trades with a 59%/41% buy-to-sell ratio.
2. GameStop Corp. (NYSE: GME) – representing 3.7% of total trades with a 93%/7% buy-to-sell ratio.
3. Apple Inc (NASDAQ: AAPL) – representing 2.3% of total trades with a 56%/44% buy-to-sell ratio.
4. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 2.3% of total trades with a 65%/35% buy-to-sell ratio.
5. Nio Inc. (NYSE: NIO) – representing 1.3% of total trades with a 73%/27% buy-to-sell ratio.
6. Microsoft Corporation (NASDAQ: MSFT)
7. ContextLogic Inc (NASDAQ: WISH)
8. Alphabet Inc Class C (NASDAQ: GOOG)
9. Alibaba Group Holding Ltd (NYSE: BABA)
10. Amazon.com, Inc. (NASDAQ: AMZN)

What can we learn from these trades?

That electric vehicle and battery manufacturer Tesla has regained its most popular US share crown, for starters. For many, many months, it seemed nothing could knock Tesla shares off of their perch on top of the most traded US shares list.

But over the past month or so, we’ve seen ‘meme stocks’ like AMC and GameStop usurp Tesla at the top of the pile. No longer it seems. Tesla is back on top with 4% of total trades last week.

This might be a by-product of the Tesla share price’s recent performance. Tesla shares are up more than 10% over the past month and nearly 15% since 15 June.

Turning to other shares, it seems that meme stocks remain popular, even if they’re not at the top of the pile. We continue to see interest in GameStop, AMC, Nio and ContextLogic. That’s despite GameStop losing around 30% of its value since 9 June.

But AMC continues to rocket. It’s still up 35% since 10 June and 81% over the past month. Other than these ‘hot stocks’, we continue to see solid interest in the US blue-chip tech companies like Apple, Alphabet, Microsoft and Amazon.

The US-listed Chinese giant Alibaba also saw an uptick in popularity for Aussie investors last week.

The post Tesla back on top as the most popular US share for ASX investors appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Alphabet (A shares) and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Microsoft, NIO Inc., and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, and Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re a retiree, you might be looking for a way to generate an income after the interest rates on traditional interest-bearing investment products collapsed over the last few years.

One way you could potentially do this is by investing in dividend shares.

Luckily, the Australian share market is home to a large number of them. But which ones should you buy? Here are two that have been rated as buys recently:

Coles Group Ltd (ASX: COL)

The first high quality option for retirees to consider is Coles. It could be a top option for a retirement portfolio due to its defensive qualities, attractive dividend yield, and solid long term growth prospects.

In respect to the latter, Coles has been tipped for growth over the 2020s thanks to its long track record of delivering same store sales growth, strong market position, and its refreshed strategy. This strategy is embracing automation, cutting costs, expanding its online business, and supporting margin expansion.

A recent note out of Goldman Sachs reveals that its analysts are forecasting consistent dividend growth for the foreseeable future. The broker has pencilled in fully franked dividends per share of 62 cents, 67 cents, and then 73 cents over the next three financial years. Based on the latest Coles share price of $17.02, this will mean yields of 3.6%, 3.9%, and 4.3%, respectively.

Goldman Sachs has a buy rating and $19.40 price target on its shares.

Goodman Group (ASX: GMG)

Another quality option for retirees to consider is Goodman Group. It is a property company that owns, develops, and manages industrial real estate across several countries. This includes properties with exposure to markets with very favourable outlooks such as ecommerce thanks to deals with Amazon and DHL.

Given how these assets are predicted to be in demand for a long time to come, it bodes well for income and distribution growth in the future. As does it development pipeline, which is filled with a large number of very promising projects.

Citi is positive on Goodman and has a buy rating and $22.10 price target on its shares. The broker is forecasting dividends per share of 30 cents, 32 cents, and 35 cents over the next three years. This represents yields of 1.4%, 1.5%, and 1.7%, respectively.

The post 2 high quality ASX 200 shares for a retirement portfolio 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 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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Shares in Star Entertainment Group Ltd (ASX: SGR) endured a lacklustre day after an announcement by the company that it will be impacted by Queensland’s lockdown.

At the closing bell, the Star share price was down by 0.27% to $3.63.

Let’s take a look at the lockdown facing parts of Queensland and how it could affect Star Entertainment.

Home you go, Queensland

Queensland’s Premier Annastacia Palaszczuk announced at a press conference earlier today parts of the state will go into lockdown from 6pm tonight until 6pm on Friday.

Southeast Queensland, Townsville, Magnetic Island, and Palm Island will be entering a 3-day lockdown after a travelling hospital worker was found to have COVID-19.

The state’s stay-at-home order will take place while Greater Sydney is undergoing a 2-week lockdown.

The current lockdowns have already caused many ASX travel shares to drop, and investors will be weighing up the possible impact on Star Entertainment.

Star’s lockdown woes

Star Entertainment’s businesses are based in 3 of Australia’s east-coast cities, which are normally a blessing for the hotel and casino operator.

Unfortunately, given the current COVID-19 situation, those cities are Sydney, Brisbane, and the Gold Coast.

Yesterday, Star restated its Sydney casino and hotel, The Star Sydney, will be closed to the public until the end of Greater Sydney’s lockdown. However, it will continue to operate limited hotel facilities.

Sydney’s lockdown was initially for a 7-day period, but it has since been extended. It will now last for a fortnight and end on 9 July.

The company has committed to continuing to pay staff at its Sydney business for the 2-week period.

Today, Star announced it will be closing its remaining casinos at 6pm tonight. The Star Gold Coast and Brisbane’s Treasury Casino & Hotel are expected to reopen on Friday evening. However, there is no guarantee the lockdown will end then.

The company has also committed to keep paying its Queensland-based staff for the duration of the lockdown.

Star Entertainment share price snapshot

The Star Entertainment share price hasn’t been noticeably affected by news of lockdowns. However, its shares have slightly fallen each day since it acknowledged Sydney’s most recent lockdown after close on 25 June. Star shares are currently trading for 1.63% less than they were then.

The Star share price has dropped 2.9% since the start of 2021. However, it’s 33.8% higher than it was this time last year.

The company has a market capitalisation of around $3.4 billion, with approximately 946 million shares outstanding.  

The post Star (ASX:SGR) share price struggles following lockdown news appeared first on The Motley Fool Australia.

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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 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 S&P/ASX 200 Index (ASX: XJO) is having a pretty ho-hum kind of day today. At the time of writing, the ASX 200 is down 0.14% to 7,297 points. Let’s check out the 3 ASX 200 shares that are topping the list of trading volumes today:

3 ASX 200 shares making moves today

Telstra Corporation Ltd (ASX: TLS)

ASX telco Telstra is the first ASX 200 share with a high trading volume to note today. So far, a hefty 9.19 million TLS shares have changed hands on the share market. This could be a result of the movements of the Telstra share price today. Telstra opened at $23.59 this morning but quickly fell all the way to $3.55 soon after, only to rebound back to $3.59 where it currently stands. This volatility might be behind such a large volume of Telstra shares trading today.  My Fool colleague James looked at the kind of dividend investors can expect from Telstra right now this afternoon.

Boral Limited (ASX: BLD)

Construction company Boral is another ASX 200 share that is making its way around the ASX boards today. At the time of writing, a substantial 9.65 million Boral shares have swapped owners on the markets today. Like other shares in its sector, Boral has been caught up in the market’s malaise today and is currently down 0.14% to $7.34 a share after briefly dipping as low as $7.30 just after open this morning.

This may be related to Boral’s rejection yesterday of a revised takeover bid from Seven Group Holdings Ltd (ASX: SVW). Seven upped its offer from $6.50 a share to $7.40 yesterday. Like its former offer, this latest bid was also swatted away by Boral’s board, who still think Seven is undervaluing the company.

Genworth Mortgage Insurance Australia Ltd (ASX: GMA)

Mortgage insurance provider Genworth takes the crown as the most traded ASX 200 share today, pipping the usual occupant Pilbara Minerals Ltd (ASX: PLS). A huge 14.63 million Genworth shares have been bought and sold today. This is almost certainly the result of what has happened to the Genworth share price itself. At the current time, Genworth shares a down a very nasty 13.58% to $2.20 a share.

What happened? Well, Commonwealth Bank of Australia (ASX: CBA) has come out today and said that it wants a new proposal from Genworth regarding the exclusive Lenders Mortage Insurance agreement that the two companies share before the current agreement expires on 31 December 2022. This has clearly spooked the markets and is probably the reason why Genworth shares are flying around the ASX today.

 

The post Here are 3 ASX 200 shares making market moves today appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation 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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The A2 Milk Company Ltd (ASX: A2M) share price has been an exceptionally poor performer in 2021.

Since the start of the year, the fresh milk and infant formula company’s shares have crashed 47% lower.

This follows the further deterioration in the company’s performance, which led to management downgrading its earnings guidance for a fourth time during the financial year.

Is the worst over for the a2 Milk share price?

One leading broker that appears to believe the worst is behind the a2 Milk share price now is Bell Potter.

According to a recent note, the broker has put a buy rating and $8.50 price target on the company’s shares. Based on the a2 Milk share price of $6.11, this implies potential upside of 39% over the next 12 months.

What did the broker say?

Bell Potter appears to believe that investors should look beyond the company’s short term headwinds and focus on its long term potential. Particularly given its opportunity to expand its offline footprint in the lucrative China market.

The broker explained: “At its core we see A2M as a business that, once MVM [Mataura Valley Milk] is consolidated, has baseline revenue of ~NZ$1.4-1.5Bn and EBITDA of ~NZ$300m, with a pathway to being a ~NZ$1.7Bn revenue business generating ~NZ$445m in EBITDA on its existing China offline distribution footprint (with a materially higher portion of direct China sales than in the past).”

“Expansion in China offline distribution points towards ~30k, could see A2M lift to a ~NZ$2bn top line business generating ~NZ$560m in EBITDA. As such we do not see FY21e revenue or earnings as reflective of where the business will operate once supply chains have stabilised and retain our Buy rating,” it added.

In light of this, the abject performance of the a2 Milk share price in 2021 could potentially be a buying opportunity for brave investors.

The post Is the a2 Milk (ASX:A2M) share price a bargain buy? appeared first on The Motley Fool Australia.

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• Selling some ASX shares before tax time? Here’s what you should know

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. 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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Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

For a third week in a row, this buy now pay later provider’s shares were the most traded on the CommSec platform. Zip’s shares accounted for 3.1% of trades on the platform, with the buying and selling evenly split. The buyers will have been the happier group, with the Zip share price adding 1.1% over the week.

Woolworths Group Ltd (ASX: WOW)

This conglomerate’s shares were popular with investors last week. They were attributable to 2.5% of trades on CommSec, with 90% of the volume coming from the buy side. Last week Woolworths completed the demerger of its Endeavour Group Ltd (ASX: EDV) business. And while this led to a 13.8% decline over the five days, this reflects the value of the demerged business which shareholders received shares in.

Commonwealth Bank of Australia (ASX: CBA)

Investors were buying this banking giant’s shares last week. This led to Commonwealth Bank’s shares being attributable for 2.3% of trades on CommSec. And while 74% of the volume came from buyers, it couldn’t stop the CBA share price falling 4.3% over the five days. The banking giant announced the sale of its general insurance last week.

Afterpay Ltd (ASX: APT)

This buy now pay later provider’s shares were heavily traded last week and attributable to 1.6% of trades on CommSec. This followed news that the company is expanding its pay anywhere offering in the US to cover major retailers such as Amazon. And although the Afterpay share price charged 12.8% higher, only 38% of the volume came from buyers.

Betashares Nasdaq 100 ETF (ASX: NDQ)

This ETF was popular with investors yet again last week. The Betashares Nasdaq 100 ETF was involved in 1.5% of trades on CommSec, with 83% of the volume coming from buyers. The technology-focused ETF rose 0.5% over the five days and has hit a record high on Tuesday.

The post Afterpay and Zip were among the most traded ASX shares last 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. owns shares of and has recommended AFTERPAY T FPO, BETANASDAQ ETF UNITS, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and BETANASDAQ ETF UNITS. 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 Camplify Holdings Limited (ASX: CHL) burst onto the ASX yesterday following a successful listing.

After being heavily oversubscribed, the caravan and campervan-sharing platform’s initial public offering (IPO) managed to raise $11.5 million.

The Camplify share price opened yesterday at $1.44, hitting a high of $1.50 and closing at $1.40. At the time of writing, Camplify shares are trading relatively flat on the company’s second day of listing, at around $1.40.

Let’s take a closer look at the newly listed company.

Camplify lists and upgrades forecasts

Camplify lodged its prospectus earlier this year, with an offer price of $1.42 per share, giving the company a $42.1 million valuation.

In addition to completing a successful IPO yesterday, Camplify also upgraded its prospectus forecast in an announcement to the ASX.

The company advised that its business was performing strongly and was expected to exceed prospectus forecasts. As a result, Camplify upgraded its gross transactional volume (GTV) and revenue forecasts for FY21.

Camplify expects FY21 GTV in the range of $30.0 to $31.5 million, compared to initial forecasts of $27.8 million. In addition, the company expects FY21 revenue in the range of $7.3 to $7.6 million, compared to its prospectus estimate of $6.7 million.

The company attributed the changes to a lower-than-expected impact of border restriction on operations. In addition, it noted a faster than expected return to travel and tourism in the United Kingdom market with strong customer interest.

In the announcement, Camplify also highlighted that the company plans to start caravan sales to premium members in the second half of FY21. However, the company does not anticipate revenue from sales due to supply chain uncertainty.

More on Camplify

Camplify runs a digital platform similar to Airbnb, that allows owner of campervans and motorhomes to rent out their vehicles to others.

Over the past 7 years, Camplify has become a leading RV rental platform operating in Australia, New Zealand, the UK and Spain. In addition, the company boasts one of the largest RV fleets in Australia with 5400 vehicles on its books.   

Similar to Airbnb, Camplify receives a platform fee for facilitating transactions and generates additional incomes through complementary products. In addition to charging commissions on bookings, Camplify handles the back end for lessors and holiday-makers, performing driver licence and ID checks, as well as providing insurance to vehicle owners.

In its prospectus, Camplify highlighted that the COVID-19 pandemic had fast-tracked its growth. With restrictions on international travel, the company estimates that 14 million caravan and camper trips were completed in Australia in 2020.

The post Camplify (ASX:CHL) share price flattens after IPO burst appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram 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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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Afterpay Ltd (ASX: APT)

According to a note out of UBS, its analysts have retained their sell rating but lifted their price target on this payments company’s shares to $42.00. UBS notes that Afterpay will soon allow US consumers to use its pay anywhere offering at non-integrated retailers including Amazon. UBS is positive on the move and has upgraded its underlying sales estimates meaningfully to reflect this. However, it still isn’t enough for a more positive rating, with the broker continuing to believe its shares are vastly overvalued. The Afterpay share price is fetching $121.00 today.

Air New Zealand Limited (ASX: AIZ)

A note out of the Macquarie equities desk reveals that its analysts have retained their underperform rating and cut their price target on this airline operator’s shares to NZ$1.10 (A$1.02). This follows the recent release of a trading update which revealed that Air New Zealand expects significant losses in both FY 2021 and FY 2022. The Air New Zealand share price is trading at $1.44 this afternoon.

Evolution Mining Ltd (ASX: EVN)

Analysts at Morgan Stanley have downgraded this gold miner’s shares to an underweight rating with a $4.30 price target. According to the note, the broker made the move due to both its belief that the gold price will fall to US$1,660/oz in FY 2022 and on valuation grounds. In respect to the latter, Morgan Stanley notes that its expansion opportunities at Red Lake and Cowal are fully priced into forecasts, meaning there is limited upside risk to its earnings. In addition to this, it notes that there are execution risks to consider. Overall, it feels investors would be better off looking at other miners for exposure to gold. The Evolution share price is trading at $4.54 today.

The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

More reading

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James Mickleboro does not own any shares 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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