The Emeco Holdings Limited (ASX: EHL) share price ended the day higher today following its successful entry into the Australian bond market.

At the end of market trade, the equipment rental company’s shares closed the day at 98 cents apiece, up 3.70%.

Emeco price’s senior secured notes

Investors bought up Emeco shares after the company announced a positive update to the ASX.

According to its release, Emeco advised it has placed a $250 million price tag on its senior secured notes. The notes mark the company’s inaugural issuance in the domestic Australian Medium-Term Note (MTN) market.

Emeco stated that the bonds will have a fixed coupon rate of 6.25%, paid bi-annually for a 5-year period. Settlement of the bonds is expected to be completed on 2 July 2021, with the maturity date falling on 10 July 2026.

Proceeds of the notes will be used to repay the company’s outstanding obligations. This relates to the 9.25% interest March 2024 United States noted and associated hedges.

Emeco noted that the transaction meets a number of its strategic funding objectives. This includes:

• Extending the debt maturity profile;
• Lowering its funding costs – an annual interest saving of around $9 million;
• Establishing a presence in the domestic bond market; and
• Replacing US$-denominated debt with A$-denominated debt.

Emeco managing director and CEO, Ian Testrow touched on the notes offer, saying:

We are very pleased with the exceptional investor response to our entry into the Australian bond market. We had planned to partially refinance our US notes, however the significant investor interest has provided us with the opportunity to fully retire our legacy debt.

The Notes significantly reduce our funding costs, lengthens our maturity profile and will result in a cleaner capital structure.

In addition to the news, Emeco reaffirmed its FY21 operating earnings before interest, tax, depreciation and amortisation (EBITDA) of $235 million to $238 million.

The company revealed it will release its full-year results for the 2021 financial year on 18 August, 2021.

About the Emeco share price

The Emeco share price has lost 8% in the past 12 months and is down roughly 15% year-to-date. The company’s shares hit a recent 52-week high of $1.245 in February but have headed lower ever since.

Emeco has a market capitalisation of about $522 million, with a tad more than 544 million shares outstanding.

The post Why the Emeco (ASX:EHL) share price finished higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Pro Medicus Ltd (ASX: PME) share price surged higher today.

Today’s gain puts the healthcare imaging provider’s share price within reach of its previous all-time high.

Earlier today, Pro Medicus shares reached an intraday high of $57.57. The company’s shares finished the day at $56.87, up 6.9%.

What’s pushing the Pro Medicus share price upwards?

There were no announcements from the company today. However, a couple of snippets of information might have influenced the share price.

Firstly, a broker note out of Morgans reveals its analysts have downgraded their ‘hold’ rating to ‘reduce’. That may not sound positive for the company at first, but the broker did increase its price target from $41.30 to $49.69.

Morgans’ mixed signals are the result of Pro Medicus’ rapid share price appreciation in the last month. Given the lack of news, the broker thinks the upwards move might stem from short positions being covered ahead of the end of the financial year.

For this reason, Mogans sees current prices as unsustainable in the short term.

Another broker’s take

Bell Potter released its latest research on the medical imaging company yesterday. According to the note, the broker retained a ‘hold’ rating with a 12-month Pro Medicus share price target of $49, previously $43.

A general review of outlook for Pro Medicus $PME by @Bell_Potter finds a minimum of $146m in revenues await over next 5-8 years. Upgrades forecasts. Target price lifts to $49 from $42. Hold rating retained considering where share price is #XJO #StocksToWatch #investing #equities

— Rudi Filapek-Vandyck (@Filapek) June 23, 2021

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Additionally, Bell Potter estimated the company’s market share in radiology image viewing as somewhere between 3% to 5%. Hence, the future potential for further expansion remains vast in their opinion.

Topping the 200

The impressive share price performance extends beyond today, this week, or even month. As we covered in a separate story, Pro Medicus is one of the best performing shares in the S&P/ASX 200 Index (ASX: XJO) so far in 2021.

A wave of optimism has followed the company winning a few big contracts in the first six months of the year. Between these deals, Pro Medicus added $85 million in contracted revenue over the next 7 to 8 years.

The post Pro Medicus (ASX:PME) share price jumps 7% following broker notes appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns shares of Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus 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 Australian share market is home to a good number of companies that are growing at a quick rate.

Two ASX shares that are growing particularly quickly are listed below. Here’s why they have been rated as buys recently and could be top options for growth investors:

Nitro Software Ltd (ASX: NTO)

The first ASX growth share to look at is Nitro Software. It provides document productivity software, including PDF productivity, eSigning workflow, and analytics solutions.

The key product in its portfolio is the Nitro Productivity Suite. This PDF productivity solution is highly scalable, serving large multinational enterprises and government agencies, as well as small businesses and individual users. It has been growing in popularity in recent years and is underpinning significant recurring revenue growth.

For example, in FY 2020 the company reported a 64% increase in annualised recurring revenue (ARR) to $27.7 million. Looking ahead, more strong growth is expected in FY 2021. Nitro has provided guidance for ARR in the range of $39 million to $42 million. This will mean year on year growth of 41% to 51.6%.

Morgan Stanley has an overweight rating and $3.70 price target on the company’s shares. It sees opportunities for Nitro to upsell and cross sell in the enterprise channel.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX growth share to look at is Temple & Webster. It is Australia’s leading online furniture and homewares retailer.

As with Nitro, Temple & Webster has been growing very strongly in recent years. This has been driven by its leadership position and the ongoing shift to online shopping. Positively, online furniture shopping is still only really getting started in Australia. Particularly in comparison to other Western markets, which have significantly greater online penetration rates.

Management is now preparing for this shift to accelerate and is investing heavily to cement its position as the market leader.

Credit Suisse currently has an outperform rating and $12.54 price target on its shares. It sees scope for the furniture industry to reach ~13% in online penetration by FY 2025.

The post These buy-rated ASX shares are growing rapidly 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 Temple & Webster Group Ltd. The Motley Fool Australia has recommended Nitro Software Limited and Temple & Webster 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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The current Fortescue Metals Group Limited (ASX: FMG) share price may offer a grossed-up dividend yield of almost 22%. Is the Fortescue share price a buy right now?

Is the dividend really going to be that big?

The brokers at Macquarie Group Ltd (ASX: MQG) think that Fortescue is going to pay a fully franked dividend of $3.45 per share in FY21.

If that turns out to be correct, then that’s a 21.7% grossed-up dividend yield at the current Fortescue share price.

The Fortescue earnings per share (EPS) is projected to be $4.30. That puts the current valuation at 5x FY21’s estimated earnings.

But Macquarie is then expecting a sizeable drop of profit with iron ore prices expected to decline. In FY22, Macquarie is expecting Fortescue’s EPS to be $3.03. That would be a profit decline of around 30%.

The broker also thinks that the Fortescue dividend will see a 29% cut in FY22 to $2.45. That translates to a forward grossed-up dividend yield of 15.4%.

Overall, Macquarie rates Fortescue as a buy with a price target of $27 for the next 12 months.

The most recent ASX announcement from the company is regarding the Grand Inga Hydroelectronic Projects. The Democratic Republic of Congo Government has invited interested corporations and governments to contact Fortescue Future Industries (FFI) – Fortescue’s green projects division – if they have investment or service interest in the Inga Projections on the condition that personnel will be trained and sourced from the DRC as Fortescue has done in Australia.

In that announcement, the company confirmed that discussions have taken place with the DRC Government in respect to the grant of exclusive rights to develop the Grand Inga suite of projects, though no formal binding agreement has been concluded yet.

Are there bearish opinions on the Fortescue share price?

Morgans thinks that the Fortescue share price is a sell, with a price target of $18.80.

That rating is despite Morgans projecting the business is going to generate more EPS in FY21 and FY22 and pay higher dividends, compared to what Maquarie thinks.

The dividend projection for FY21 from Morgans is $3.67 per share, translating to a whopping 23.1% grossed-up dividend yield this year.

Morgans has some conservative thoughts on the miner because of the very strong iron ore price which it doesn’t think is going to stay around forever. The broker thinks that compared to BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO), Fortescue is more vulnerable to falling iron ore prices. The brokers thinks that global steel demand is close to its highest point.

Using Morgans’ projections for FY22, Fortescue is valued at approximately 7x estimated earnings. The forecast grossed-up dividend yield for the next financial year (FY22) is 15.7%.

The post Is the Fortescue (ASX:FMG) share price a buy with a potential 21% yield? appeared first on The Motley Fool Australia.

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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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The AGL Energy Limited (ASX: AGL) share price has bounced more than 10% since the start of this month. Despite the strong performance, shares in the electricity operator are still down more than 25% for the year.

Read on to find out what’s been shaping the AGL share price.

AGL share price at multi-decade low

The AGL share price has been in a world of hurt the past few years. The energy operator has had to fight numerous battles. These include a struggling national electricity market, unstable electricity prices and declining value of its energy generation assets.

Recently, the AGL share price has had to battle numerous headwinds. In addition to macro challenges, the company has had to deal with the sudden exit of its CEO. The company also lost a high-profile Federal Court case against Greenpeace Australia Pacific.

Why is the AGL share price trading higher in June?

Since the company has not released any price-sensitive news, the recent spike in the AGL share price could be attributed to multiple factors.

Investors could be jumping the gun early as they await a line-up of CEO’s. Following the departure of Brett Redman in late April, AGL had promised to update the market by June 30 on likely CEO’s who would take up the position.

In addition, investors could be jumping on AGL’s planned restructuring which the company announced back in March. According to AGL, the company plans to create 2 leading energy businesses via a structural split.

Under the proposed separation, the company will split into ‘New AGL’ and PrimeCo. New AGL will be focused on multi-product energy and will control the retail assets. On the other hand, PrimeCo is earmarked to be Australia’s largest electricity generator housing the company’s coal electricity-generating assets.  

What is the outlook for AGL?

Earlier this year, AGL reaffirmed full-year guidance of $500 to $580 million. In addition, the company issued guidance for 2021 underlying earnings of between $1.585 billion and $1.845 billion.

Analysts and investors have had their premonitions on what the outlook is for AGL. The sudden departure of the company’s CEO has raised concerns about the company’s proposed strategy and the likely success of the separation.

In addition, there have been lingering doubts on how AGL can distribute $2.8 billion of debt in the restructure, whilst retaining investment-grade credit ratings for both.

Despite the headwinds, AGL expects the structural separation to be completed by the end of 2021.

The post The AGL (ASX:AGL) share price has bounced 10% this month 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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Shares in Nuix Ltd (ASX: NXL) have fallen today following news the company’s Sydney offices have been raided by law enforcement. At close of trading, the Nuix share price was down 2.68%, with shares swapping hands for $2.54.

Nuix announced it had received a search warrant from an unnamed body at around 11.30 am this morning. Until then, its shares had been enjoying a day in the green. An hour later, The Nuix share price had fallen by 3.97%.

Let’s take a closer look at what law enforcement might be doing in the software company’s office.

Warrant issued

According to Nuix’s release, a warrant was issued today to search the company’s Sydney office.

The warrant’s issuer is seeking documents relating to an individual’s affairs. Nuix didn’t name the individual.

Nuix stated the warrant was nothing to do with wrongdoing by the company.

According to reporting by the Australian Financial Review (AFR), the Australian Federal Police (AFP) issued the warrant.

The AFP is reportedly assisting the Australian Securities and Investment Commission (ASIC) in its criminal investigation into Nuix.

The AFR reported the criminal investigation is related to Nuix’s initial public offering (IPO).

As The Motley Fool Australia has previously reported, the corporate watchdog is said to be investigating Nuix and its major shareholder Macquarie Group Ltd (ASX: MQG) over allegations Nuix’s prospectus included inflated forecasts. The investigation reportedly began earlier this month.

ASIC was blasted in Parliament last week over its alleged failure to regulate the software company’s IPO, which resulted in investors losing nearly $3 billion.

Additionally, the AFP began investigating Nuix’s co-founder and former-chair Tony Castagna last month. The investigation relates to an options package reportedly sold to Castagna by Nuix that could have been backdated. The options are said to have been cashed out for $80 million at Nuix’s float.

Nuix share price snapshot

Once hailed as the ASX’s future market darling, Nuix has turned out to be one of its most nail-biting rollercoasters.

Currently, the Nuix share price is 68% lower than it was when it debuted on the ASX in December 2020.

The company has a market capitalisation of around $828 million, with approximately 317 million shares outstanding.

The post Nuix (ASX:NXL) share price falls as warrant to search offices issued 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 recommended Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Nuix Pty 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 Costa Group Holdings Ltd (ASX: CGC) share price has been a poor performer in 2021.

Since the start of the year, the horticulture company’s shares are down a disappointing 18%.

Is the Costa share price good value?

One leading broker that believes the Costa share price is good value is Goldman Sachs.

This morning the broker responded to news that the company is acquiring 2PH Farms by reaffirming its buy rating, albeit with a trimmed price target of $4.20.

Based on the latest Costa share price, this represents potential upside of 23.5% over the next 12 months. This potential return stretches to 26% if you include dividends.

What did Goldman say?

Goldman sees a lot of positive in the company’s plan to acquire 2PH Farms.

It commented: “We think the proposed acquisition of 2PH would be a good fit with CGC’s existing citrus operations. Key attractions include: geographic diversification of production; clear organic growth profile to 2025 as trees mature and further planting takes place; access to high growth, premium-price Asian export markets; exclusive perpetual access to plant breeder rights (PBR); long term platform to establish offshore production and/or license PBR.

The broker also notes that it should be a relatively low risk acquisition. This is due to the two companies having a long-established relationship, with Costa marketing 2PH Farms’ citrus domestically for over 10 years.

Goldman also sees attractive long term growth potential from the acquisition due to the age of its orchards. This could be good news for the long term performance of the Costa share price.

Its analysts explained: “CGC expects c.10% accretion in FY21 on a pro forma basis; we see significant potential upside as the 2PH orchards mature. >50% of the 1,474 ha planted are yet to reach maturity and are <5 years old; a further 210 ha is due to be planted by 2023. Based on scenario analysis below, we estimate EPS accretion of c.14-24% in FY25 as production ramps up from the current ~30k tonnes in FY21 to >60k tonnes by 2025.”

All in all, the broker appear to believe the risk/reward on offer with Costa’s shares is compelling and has retained its buy rating.

The post Broker tips Costa (ASX:CGC) share price to shoot higher 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 COSTA GRP 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 Empired Ltd (ASX: EPD) share price, up 164% since this time last year, is flat today, with investor’s shrugging off the company’s newly reported government contract.

Below we look at the details of the new contract from the IT services provider.

What did Empired announce?

Empired’s share price didn’t do much today, despite reporting it had been awarded a $9 million digital services contract with the South Australian Government Department of Innovation and Skills (DIS).

DIS works to grow the South Australian economy, supporting people and businesses and helping to increase South Australia’s productivity growth rate.

Empired stated it will provide a range of services that includes replacing and modernising DIS’ core systems, providing program management, as well as digital and data services.

The initial 2-year term of the contract will see work kick off in July. Empired estimates revenue of $5.5 million from the contract in the 2022 financial year and $3.5 million in FY23.

Commenting on the secured contract, Empired’s CEO Russell Baskerville said:

We are delighted to have been selected by DIS as their primary digital transformation partner and are excited to work closely with the department over the coming years to modernise and extend the range and accessibility of digital services provided by the department.

Baskerville added that the company forecasts its Australian East Coast sales results to increase more than 50% in the 2021 financial year compared to FY20.

Jeremy O’Donohue, Empired’s regional sales manager South Australia, said the “South Australian government has backed Australian and South Australian businesses to deliver on what will be a critical technology and business transformation.”

Empired share price snap shot

Empired shares are up an impressive 164% over the past 12 months, handily beating the 24% gains posted by the All Ordinaries Index (ASX: XAO) over that same time.

The Empired share price hit 5-year highs on 26 May, trading for 91 cents per share. Since then shares have retraced a touch, currently trading for 88 cents per share.

Year-to-date, the Empired share price has continued to outperform, up 28% in 2021.

The post Up 164% in 12 months, Empired (ASX:EPD) share price unmoved by contract win appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Coles Group Ltd (ASX: COL) share price is on the rise this afternoon, adding 1.94% to sit at $16.85 at the time of writing.

Its advance comes after the successful demerger of supermarket rival, Woolworths Group Ltd (ASX: WOW).

The demerger will see Woolworths shareholders receive one Endeavour Group Limited (ASX: EDV) share for every Woolworths share they own.

What’s driving the Coles share price?

Last Thursday, the Coles share price took a ~4.50% tumble following the company’s strategy update announcement.

The seemingly positive announcement provided updates including progress on sales per square metre, cost cutting and customer satisfaction.

The update also revealed “rapidly growing online grocery sales” with planned investment to further drive its ecommerce sales.

Despite the harsh sell-off last Thursday, Goldman Sachs believes that Coles is well positioned in the short-term, to benefit from consumers returning to supermarkets. The broker had a buy rating for Coles shares on 18 June with a $19.40 target price.

Furthermore, the Australian Bureau of Statistics (ABS) revealed its preliminary May retail trade figures, highlighting a strong uplift in food retailing.

Its results note that Australian retail turnover increased 0.1% in May 2021, with a 1.5% increase in food retailing driving the increase.

More specifically, Victoria experienced a 4.0% lift in food retailing, likely driven by its lockdown starting late May.

The strong performance out of the food retailing industry could be a factor supporting ASX-listed supermarkets.

A long way to go for the Coles share price

Despite pushing out some gains today, the Coles share price is still down about 9% year-to-date.

Coles is making a slow recovery as consumer spending habits normalise. Its management said in response to it third quarter results:

Early signs of normalising consumer behaviour were observed including improved transaction growth, a recovery of COVID-19 impacted categories such as impulse, convenience and food-to-go, Sunday returning to be the busiest trading day of the week and positive indicators of the unwind of ‘local shopping’ as customers returned to shopping centres and CBD stores.

The post Why the Coles (ASX:COL) share price is pushing higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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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ASX uranium shares have broadly outperformed the market in 2021.

And 2 of the biggest ASX uranium shares are gaining once more, charging higher in late afternoon trade.

The Paladin Energy Ltd (ASX: PDN) share price is up 9.03% at time of writing, trading at 51 cents per share.

The Boss Energy Ltd (ASX: BOE) share price is also running hot, up 6.9% to 15.5 cents per share.

What’s driving investor interest in ASX uranium shares?

Demand for nuclear fuel plummeted following Japan’s earthquake and tsunami driven Fukushima nuclear disaster in 2011. Which spelled bad news for ASX uranium shares in the aftermath.

But as the world is increasingly focused on decarbonising, uranium is back in the spotlight. And prices have been steadily rising since hitting lows of US$24 per pound in February 2020, up to US$32.30 per pound currently.

Atop growing interest in new nuclear power plants in the United States under President Joe Biden’ administration, China has a huge pipeline of nuclear plants in the hopper.

Bloomberg Intelligence analyst Simon Chan points to China as a key growth area for uranium demand, saying the Middle Kingdom could potentially double “its nuclear generation capacity to as much as 100 gigawatts by 2030″.

Although Australia doesn’t currently use any nuclear power, the issue has been touted as a debate item in the next Federal election.

While Australia has amongst the world’s largest, economically viable uranium deposits, it currently only has 2 producing uranium mines, Olympic Dam, owned by BHP Group Ltd (ASX: BHP), and Four Mile, owned by Quasar Resources.

But as indicated by Boss Energy’s latest feasibility study, released on Monday, its Honeymoon uranium mine in South Australia could become a third major player.

As Bloomberg notes, Honeymoon “could add an extra 2.45 million pounds (1,225 tons) of production a year to a market, which currently requires around 67,500 tons a year, according to the World Nuclear Association”.

Commenting on that study, Boss Energy Energy’s managing director Duncan Craib said, “This study demonstrates that Boss is perfectly placed to capitalise on a strengthening uranium market with an existing plant and mine in a tier-one location with low costs and strong financial returns.”

The ASX uranium share is also banking on a significantly higher price for uranium than the current spot price. In defence of that assumption, Boss Energy wrote:

Boss considers a base case price of US$60/lb U3O8 [uranium] over the LOM is reasonable given that current spot and term uranium prices are well below the price required to guarantee viability of a large proportion of the world’s existing production.

Uranium analysts predict that a long-term spot price in the mid US$40’s will incentivise restart of idled production while a spot price closer to US$60/lb will be needed for most new mines.

In an interview with Bloomberg, Craib added, “There is significant uncovered demand in the coming decades – and post-2023, primary supply to meet that demand is severely limited… We see activity picking up in the third quarter and continuing into the next calendar year.”

If uranium prices rise in line with Boss’s projects, that should offer strong tailwinds to ASX uranium shares.

Boss Energy and Paladin share price snapshot

ASX uranium shares Boss Energy and Paladin have both soundly beaten the returns posted by the All Ordinaries Index (ASX: XAO) this year.

So far in 2021, Boss Energy shares are up 60%, and Paladin shares are up a whopping 94%, compared to a gain of 9% on the All Ords.

The outperformance goes back a full 12 months too, with Boss Energy up 158% since this time last year and Paladin shares up 405%.

The post Why these 2 ASX uranium shares are leaping higher again today appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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