The Treasury Wine Estates Ltd (ASX:TWE) share price rocketed over 8% higher today before slightly retreating to be up 7.3%. The mouth-watering leap appears to be on the news of a potential takeover bid.

Earlier today, shares in the alcoholic beverage producer were trading as high as $11.15. The share price is currently sitting at $11.06. Yesterday, it closed at $10.31. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up only 1%.

Takeover rumours

According to a report in British publication This is Money (TIM), French drinks giant Pernod Ricard SA (EPA: RI) is champing at the bit to buy Treasury Wine. TIM is reporting the offer could see Treasury Wine valued at over GBP 5 billion (approximately $9 billion). The article does not specify if Pernod Ricard is looking to buy a controlling stake in the wine company or not.

The article claims an unknown bidder (possibly Pernod Ricard) has already made an offer of $15.67 per share.

Motley Fool Australia asked Treasury Wine Estates and Pernod Ricard for comment. Neither company responded by publication.

The Penfold’s distributor, in its FY21 half-yearly update, reported a net profit after tax of $175.3 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) was $284.1 million, and earnings per share (EPS) came in at 24.3 cents. All were down on the prior corresponding period.

Pernod Ricard, owner of brands such as Jacob’s Creek and Chivas Regal, is valued at 41.5 billion euros (approximately $64.2 billion).

What else could be driving the Treasury Wines share price?

Any other potential influences on the Treasury Wine share price would most likely be dragging it down.

The Chinese governments tariffs on Australian wine have decimated the industry. The People’s Republic claims the tariffs are an “anti-dumping measure”. However, many believe the protectionist policy was implemented as retaliation for Australia’s calls for an enquiry into the origins of COVID-19.

While exports to Europe and the US are surging in the meantime, it does not make up for the lucrative Chinese market.

As well, according to the Department of Agriculture, Water and the Environment (ABARES) the wine grape price and the wine export value are forecasted to decline over FY21 and into FY22. ABARES believes the price of grapes will fall from $694 per tonne to $540 per tonne.

Treasury Wine share price snapshot

Today’s gains for Treasury Wine are not out of the ordinary. The wine exporter’s share price is sitting 10.5% higher than this time last year. The company did, however, slip from its 52-week high of $13.12 back in August. Shares reached their lowest point of $7.87 in November, when China first placed tariffs on Australian wine.

More reading

• ASX 200 up 1.6%: Appen rebounds, ALS acquires Investiga, Woolworths upgraded
• 5 things to watch on the ASX 200 on Wednesday
• ASX shares on watch: Chinese investment in Australia has dropped 61%
• ASX 200 sinks 1.3%, Cochlear soars, TWE sours
• Why the Treasury Wine Estates (ASX:TWE) share price is down 7%

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates 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 Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price continues to light up the ASX today. At the time of writing, ANZ shares are up 0.97% to $29.17 a share. Earlier in the trading day, the ANZ share price hit $29.35 — a new 52-week high. In fact, that share price is the highest ANZ has climbed since August 2018, a good 2½ years ago. It has also climbed more than 108% since it’s last 52-week low, which was of course hit during the coronavirus-induced market crash last year.

It’s a surprisingly strong move from this ASX bank. ANZ’s big four banking compatriots have also been enjoying rising valuations over the past few months, but none as enthusiastic as ANZ. As an example, Westpac Banking Corp (ASX: WBC) shares are still down a good 17% from where they were in August 2018.

Last week, we discussed some of the reasons why ASX banking investors might be targeting ANZ over the other ASX banks. Possible reasons include the lack of a capital raise program last year during the worst throes of the market crash. They also include the lack of a $1.3 billion fine, which Westpac copped.

But what about dividends? Many (arguably most) investors who seek out ASX bank shares do so for the dividends.

ANZ’s dividend record

Well, on the surface, ANZ’s most recent dividend payouts don’t look too impressive. Yes, the bank did pay 2 fully franked dividends last year (unlike Westpac). But those 2 dividends amounted to 60 cents per share. That is well down from the $1.60 per share that investors received back in 2019.

That gives the ANZ share price a trailing dividend yield of 2.06% on current pricing.

But perhaps investors are looking forwards, not backwards.

As my Fool colleague James Mickleboro reported a fortnight ago, several brokers are forecasting that ANZ will pay as much as $1.48 in dividends per share in FY2021, and as much as $1.61 in FY2022. If that did come to pass, it would mean investors are looking at a forward yield of 5-6%. That would certainly be a tantalising prospect in this era of near-zero interest rates.

Whatever the reason, investors can’t seem to get enough of ANZ shares these days. The company is still well below its all-time high of near $37 a share that we saw back in 2015. However, it’s a lot closer today than it has been for a long time. But here’s another (more sobering) statistic: any investor who bought ANZ shares back in February 2007 is only breaking even on their investment at today’s share price.

More reading

• ASX 200 Weekly Wrap: ASX finishes higher, despite tech selloff
• Beat low interest rates with this outstanding ASX dividend share
• These were the best performing ASX 200 shares last week
• This was the week that ASX dividend shares proved their worth
• Brokers name 3 ASX shares to buy right now

Motley Fool contributor Sebastian Bowen 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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In the spirit of International Women’s Day, Motley Fool is celebrating the women running some of Australia’s top companies.

You may have read our article about gender equality within the companies of the S&P/ASX 200 Index (ASX: XJO). If so, we needn’t remind you of the struggle facing women when reaching for Australia’s top jobs. In fact, of Australia’s 200 most successful companies, only 10 are led by women. That number is even more shocking when considered alongside S&P Global’s research, which found female-led companies’ share prices generally perform 20% better than those of male-led companies.

Below, we’ve profiled the careers and ideas of 4 of Australia’s most successful women in business as a celebration of International Women’s Day. These women have powered through gender biases to lead some of the ASX’s top companies.

Kate Quirke – Managing Director of Alcidion Group Ltd (ASX: ALC)

With more than 25 years in the healthcare information technology sector and a wealth of experience holding leading roles at large software firms, Kate Quirke is truly accomplished. She is currently the managing director of Alcidion, a tech company creating world-leading software for health informatics and solutions.

While Alcidion is not yet listed on the ASX 200, Quirke is the only female leader on Australia’s S&P/All Technology Index (ASX: XTX).

In an interview with CEO Magazine, she spoke of how she believes approaching opportunities with confidence is the ultimate key to success.

Looking back now, I think there were a couple of things that gave me upward mobility. First, the value of education and constantly learning. Beyond a degree, education helps to understand the world around us and how to sustain it for future generations… Second, taking career risks early. My willingness to take career risks gave me the responsibility and expertise that have made me stand out from the crowd. Finally, I was fortunate to have mentors at different stages of my career development who were pivotal to my progression. Both were direct managers and pushed me into taking roles that I myself didn’t know I was ready to take on.

She added:

If I had one wish it would be that women have more belief in themselves, more confidence. Men will apply for a role when they believe they have 60% of the skills for the role whilst women will wait until they have 100%. As we get older and experienced our confidence grows, but we need to work out how to instil that in women from when they are girls.

Alison Watkins – Group Managing Director of Coca-Cola Amatil (ASX: CCL)

Alison Watkins’ resume is impressive. She has held the top position at Coca-Cola Amatil since 2014, one of many leadership roles she’s held in thriving companies.

Coca-Cola Amatil’s share price is currently at its highest in 8 years.

At the 2014 CEW Annual Dinner, Watkins spoke of her passion to see more women lead businesses:

I feel a strong responsibility to be successful for all the women who will become CEOs in the years to come. It is how I will contribute to changing the perceptions of what a female leader is and to accelerating the arrival of the day when the term “female CEO” doesn’t evoke any particular perceptions at all.

Shemara Wikramanayake – Managing Director and CEO of Macquarie Group Ltd (ASX: MQG)

A tale of loyalty, Shemara Wikramanayake has been with Macquarie and its divisions since 1987. She finally made it to the top job 31 years later.

Under Wikramanayake’s leadership, Macquarie’s share price has consistently risen. Today, it sits 17% higher than the day she was appointed.

In 2019, she was announced as the highest-earning CEO in Australia. The next year, she made Fortune’s list of the World’s Most Powerful Women.

In a video published by Macquarie Group for International Women’s Day 2019, Wikramanayake spoke of how the traditional gender roles in her family have been switched as a result of her success:

Our son, when he was little, and we asked him what he wants to do when he grew up, he said, “I’m going to be a normal person like my daddy,” and when I said, “What will you do for money?” he said, “My wife will work.” Whereas our daughter wanders around with her high-heel shoes and briefcase, saying “When I grow up, I’m going to be the boss of everyone.” I missed out on the time being primary carer for my children, but they are happy, well-adjusted children.

Julie Coates – Managing Director and Executive Director of CSR Ltd (ASX: CSR)

Julie Coates reached her current position as Managing Director and Executive Director of CSR in 2019.

Interestingly, she previously worked as a math teacher. Since then, she has managed HR and logistics for Woolworths Group Ltd (ASX: WOW), taken over as CEO at Big W, and held the Managing Director role at Goodman Fielder Ltd (delisted in 2015). 

In an interview with The Squiz, she spoke of her approach to raising her daughters to be strong women:

Giving them self-belief whilst keeping them grounded [is the key]. They can achieve anything but how they behave in getting there is paramount. When they travel we say, “Just remember three things: stay safe, have fun and learn lots”.

More reading

• ASX 200 up 1.6%: Appen rebounds, ALS acquires Investiga, Woolworths upgraded
• International Women’s Day: Which ASX companies are fighting gender inequality?
• Leading broker upgrades Woolworths (ASX:WOW) shares to buy rating
• This fundie liquidated 90% of his fund when COVID-19 hit
• ASX 200 Weekly Wrap: ASX finishes higher, despite tech selloff

Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Alcidion Group Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia owns shares of Woolworths Limited. 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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Today is International Women’s Day.

Frankly, the fact we need to have International Women’s Day is an indictment; but women are still paid less, have less Super, are underrepresented in positions of power and responsibility, and are far more likely to be victims of intimate partner violence.

For a society that, on a good day, wants to consider itself enlightened, that’s a helluva litany, huh?

And then there’s the last couple of weeks in Federal politics.

Seriously.

(If you’re someone who rails at the idea of ‘days’ for certain groups, I’m going to ask you to re-read the second paragraph, above. That’s why we need one. And yes, apparently there’s a Men’s day, too. But seriously, just harden up.)

Now, I’m a bloke, writing on International Women’s Day.

Yep. Awkward.

I should not be the most powerful or listened-to voice, today. That belongs to the many women who are — rightly — being heard.

I considered saying nothing. Just ceding the ground and making space. If I thought that space could or would be taken up by other women in finance, I’d gladly do it.

But for better or worse, I’m what we’ve got, on our social media feeds, our emails and one of the articles on our website.

I hope I’m adding to the conversation, rather than distracting from it.

I hope I can speak to those women and men who regularly read my writing. To share something from my perspective that can add to the discussion, without crowding women out.

To point out, from a bloke’s perspective, the importance of today as a point in time to stop, listen, and do better in future.

But that’s not all I’m going to do.

The good news is that I work with some wonderful women. 

They work across all parts of our company, and while I’ll add some short words at the end, I wanted you to hear from them, today:

“Let us take charge of our financial future and take a little risk. Together, we can achieve financial success, independence, and prosperity in a COVID-19 world.”

— Abbie

“Having a financial capability brings you more choices in life. Traditionally, investing or money management, either on a personal level or in the professional asset management industry, was considered as a man’s job. But I believe investing may fit better for women than some other jobs because all it requires is an ability to think logically and a good temperament. And the stock market does not know if you are female or male so there’s less prejudice as long as your logic and reasoning is right.”

— Kate

“The theme for International Women’s Day 2021 is “Choose to Challenge” where the goal is a gender equal world. 

“Studies show that women are less likely to invest than men. Is it time? Is it a lack of interest or just not understanding how to get started? Whatever the answer, it limits our ability to reach our financial goals.  

“My challenge is to continue to learn more and get reacquainted with my portfolio (and by reacquainted I mean start again!) – I’m fortunate enough to work with some of the best investing talent there is. I’ll report back next year to let you know how I go!

“My challenge for you… Whether you are male or female, today is a good day to consider how you can contribute to a gender equal world.”

— Erin

“For me, investing is about independence. I’ve discovered there really is no right or wrong approach to investing. Determine what your goals are and what you’re comfortable with and invest your way. And mainly, don’t overthink it, just get started!”

— Lauren

“It’s good for women to get into investing because we’re underrepresented in the field. Having whole industries operate as boys’ clubs does the world few favours, as we’ve seen over the last few millennia. As importantly, investing is an intellectually satisfying hobby. It encourages you to develop a deeper understanding of economics and a considered view of how the world operates versus how it purports to operate. And that makes you better at your job, whatever your job happens to be, and a more skillful negotiator in all kinds of situations. You learn to appreciate the importance of incentives, to evaluate risk, and to think strategically. Plus you stand to make a pile of filthy lucre. I recommend it.”

 — Catherine

You bet I’m lucky to work with those women. And others besides.

They are fantastic colleagues.

And the short words I promised?

Pretty simple:

To the women reading: You’ve got this. Don’t take it from me. Take it from the wonderful women quoted above.

And blokes? Please share this with the women in your life. Not in an ‘as the father of daughters’ kinda way, but just because you have the opportunity to empower others who aren’t reading this right now. 

If you have the opportunity to improve someone else’s life, and future, I reckon you’re pretty much duty bound to take it. And if it costs you nothing but the few seconds it takes to hit ‘send’, ‘forward’, ‘share’ or something else… well, I reckon you’re doubly obligated.

It truly is the least we can do.

And here’s to the end of International Women’s Day… because if it’s no longer needed, that’ll mean we’ll have gender equality.

And it’s well past time.

More reading

• The Medical Developments International (ASX:MVP) share price is jumping 7% today
• Kleos (ASX:KSS) share price is edges lower despite positive update
• What’s weighing on the Mesoblast (ASX:MSB) share price lately?
• Why the Talga (ASX:TLG) share price is surging 8% today
• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor Scott Phillips 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 Medical Developments International Ltd (ASX: MVP) share price has been a strong performer on Monday.

In afternoon trade, the medical device company’s shares are up 7% to $5.37.

Why is the Medical Developments International share price charging higher?

Investors have been buying Medical Developments International shares on Monday following the release of a roadshow presentation.

Within the presentation, the company acknowledged that current results are challenging because of COVID-19 but notes that it is investing for the future.

In respect to its results, Medical Developments International recently posted a sharp reduction in profit during the first half of FY 2021.

This was driven partly by lower sales of Penthrox, also known as the green whistle, due to COVID-19 causing a reduction in trauma-related events.

Positively, management is anticipating a rebound in sales in the second half. This is due to the easing of COVID-19 restrictions and increased community movement.

What about the future?

The company also revealed that a number of initiatives are currently in-flight.

This includes the analysis of European market access routes to growth and an organisational review to position the company for rapid growth.

In respect to Europe, management notes that there are encouraging early signs of growth in Europe. This includes, in some cases, building from the ground level after almost two years of partner inactivity.

It is also targeting new European country launches in key markets in 2021, along with potential new partnerships.

Longer term opportunities

The company also provided an update on its longer term opportunities.

It notes that it had a positive exchange with the US FDA at its Type-C meeting in January. It is now awaiting the final post-meeting note regarding its path forward in the lucrative market.

In addition to this, a phase one Pharmaco-Kinetic study in China will begin to enrol patients in the third quarter of 2021.

The company also has phase three Trauma and Procedural studies in China that are planned to commence in the not so distant future.

And finally, Medical Developments International is continuing with the CSIRO to develop alternative manufacturing methods for generic active pharmaceutical ingredients (APIs) utilising its continuous flow platform technology.

It advised that advancements have been made in late-stage Lidocaine scale-up development. The company plans to advance four additional APIs into scale-up phase during 2021.

More reading

• Don’t take it from me. Take it from them…
• Kleos (ASX:KSS) share price is edges lower despite positive update
• What’s weighing on the Mesoblast (ASX:MSB) share price lately?
• Why the Talga (ASX:TLG) share price is surging 8% today
• Leading brokers name 3 ASX shares to buy today

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 Medical Developments International Limited. The Motley Fool Australia has recommended Medical Developments International 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 Kleos Space SA (ASX: KSS) share price is edging lower today despite announcing a new agreement with rideshare provider Spaceflight Inc. At the time of writing, the satellite infrastructure company’s shares are down 1.6% to 60 cents.

What did Kleos announce?

The Kleos share price in the red during early-afternoon trade as investors seem unmoved by the company’s update.

According to its release, Kleos advised that it has signed a new contract with Spaceflight. The agreement is to launch its third cluster satellite, codenamed the ‘KSF2 Polar Patrol’ mission. The launch is expected to take place sometime in December 2021 aboard a SpaceX Falcon 9 rocket.

Kleos revealed that the four KSF2 satellites will enter a sun-synchronous orbit (SSO) at a height between 500 kilometres to 600 kilometres. An SSO travels over the Earth’s atmosphere in the same ‘fixed’ position relative to the sun.

The KSF2 satellites will be deployed to complement the company’s first and second existing satellite clusters. This will allow Kleos to increase its coverage over vast areas over key maritime interests. As such, this enables improved detection of illegal activity like drug and people smuggling, illegal fishing, and border and security breaches.

The company also noted that its second satellite cluster, the Polar Vigilance mission, is on track for the mid-2021 launch. This will also be boarded on a SpaceX Falcon 9 rocket.

CEO commentary

Kleos Space CEO Andy Bowyer touched on the company’s progress, saying:

The launch of our third satellite cluster will further improve the frequency and value of Kleos’ radio frequency intelligence data, generating higher-value datasets and further tiered subscription licence options. While Kleos is targeting a constellation of up to 20 satellite clusters, each cluster will increase the volume of data that can be sold and provide further insights as to activity in key areas of interest for our customers.

While we progress, our constellation roll-out with the launch of our second and third satellite clusters, we continue to focus on securing and building a new subscriber base. Data delivery from the Scouting Mission satellites allows us to commence revenue generation from early adopter and test contracts.

Kleos share price review

The Kleos share price has soared 146% higher over the course of the past 12 months. The company’s shares hit a low of 15 cents last March before gradually moving higher. In November, its shares reached a record high of 92.5 cents.

Based on current valuations, Kleos commands a market capitalisation of around $98.5 million.

More reading

• Don’t take it from me. Take it from them…
• The Medical Developments International (ASX:MVP) share price is jumping 7% today
• What’s weighing on the Mesoblast (ASX:MSB) share price lately?
• Why the Talga (ASX:TLG) share price is surging 8% today
• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor Aaron Teboneras 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 Mesoblast Limited (ASX: MSB) share price has dipped 0.43% at the time of writing and is currently trading at $2.31 a share. This compares to the S&P/ASX200 Index (ASX: XJO), which has jumped 1.75% so far today.

In fact, over the past four months the Mesoblast share price has fallen more than 40%. So what’s going on? 

Why is the Mesoblast share price going down?

Mesoblast carried out a capital-raising exercise, which was announced last week. The cash injection came just in time, as concerns about Mesoblast’s dwindling cash flow have been weighing on the company’s share price over the past few months.

On 28 February 2021, the Australian Financial Review quoted the auditor of Mesoblast’s latest results, who stated that, “material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern”.

For the 6-month period ended 31 December 2020, Mesoblast posted a loss of $33.2 million and the company’s deficit stood at US$599 million.

So what does the capital deal look like?

Mesoblast raised US$110 million issuing 60 million shares at A$2.30 in a private placement led by a US investor group.

The money will be used to keep pushing the company’s products through the necessary United States Food and Drug Administration (FDA) approvals in the second and third quarters. For example, work will continue on gaining US regulatory approvals pertaining to a back pain treatment that uses Mesoblast’s rexlemestrocel-L drug.

Funding will also be allocated toward generally progressing its remestemcel-L and rexlemestrocel-L platforms.

The business advised that it will invest in a commercial supply of remestemcel-L and continue to advance the manufacturing and development of rexlemestrocel-L.

Mesoblast share price snapshot

Mesoblast has a market capitalisation of $1.4 billion and there are presently 623.5 million shares outstanding.

Over the past year, the Mesoblast share price has climbed by 26%.

The company is a developer of medicinal treatments for severe and life-threatening inflammatory conditions. It has locations in Australia, the United States and Singapore, and has commercialised two of its products in Japan and Europe.

More reading

• These are the 10 most shorted shares on the ASX
• ASX 200 up 0.3%: Mesoblast raises US$110 million, tech shares rebound
• Here’s why the Mesoblast (ASX:MSB) share price is tumbling lower today
• Did you know Piedmont (ASX:PLL) and Mesoblast (ASX:MSB) are listed on the NASDAQ?
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Gretchen Kennedy 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 Talga Group Ltd (ASX: TLG) share price is trading 8.64% higher at $1.32 at the time of writing. This comes as the company announced a new graphene milestone. 

This is in contrast to recent movements with the Talga share price having fallen sharply since the turn of the year, slumping 29%.

What Happened

This morning’s announcement revealed that Talga has reached a key milestone in its ship coating trials.

Talga has been undertaking a research study regarding its graphene ship coating. Aimed at providing a more weatherproof and chemically friendly alternative to the current commercially available chemical coating.

The primer coating was first applied to a 33,000-tonne container ship late in 2019. At the time, this was the world’s largest single application of graphene. The trial was then expanded to another similar sized container ship. In good news for the company, upon visual inspection of the first ship, it appears as if the coating matches the commercial standard.

However, it must be noted that as a result of travel and access restrictions the detailed physical testing of the ships is yet to be completed. More information will be available when access is reinstated and testing can resume.

Management Comments

Commenting on the milestone, Talga managing director, Mark Thomson said:

We are very pleased to see this large scale demonstration of Talga’s graphene successfully working in the tough conditions of commercial shipping. Additionally, as we can now produce our graphene as a by-product of our battery anode manufacturing process, we are demonstrating a global leading lowcost and scalable graphene additive supply for large volume industrial products.

What Now

With the largely positive results has come growing market interest according to the company. Consequentially, this has encouraged Talga to extend its range of graphene coating products.

The Talga share price has risen around 228% over the past 12 months, compared to an increase of 9.12% for the S&P/ASX 200 Index (ASX: XJO). The Talga share price currently sits in the middle of its 52-week range, having achieved a 52-week high of $2.15 and a low of 17.5 cents. 

More reading

• Leading brokers name 3 ASX shares to buy today
• Why this broker is bullish about ASX lithium shares
• How the CSL (ASX:CSL) share price weakness exposes its dividend strength
• Why Audio Pixels, Nick Scali, Smartgroup, & Zip are tumbling lower
• What is going with the Noxopharm (ASX:NOX) share price today?

Motley Fool contributor Daniel Ewing 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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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating and $112.60 price target on this pizza chain operator’s shares. Goldman believes that the trends for profit growth look strong thanks to operating leverage. Looking further ahead, the broker believes that the company has the balance sheet strength to build on its scale through further regional expansion via acquisitions. The Domino’s share price is fetching $88.16 on Monday afternoon.

Myer Holdings Ltd (ASX: MYR)

A note out of Citi reveals that its analysts have retained their (high risk) buy rating and 40 cents price target on this department centre operator’s shares. The broker acknowledges that the company is facing tough trading conditions and has cut its earnings forecasts to reflect this. However, it is pleased with the health of its balance sheet and sees value in its shares at the current level. The Myer share price is trading at 29 cents on Monday.

Woodside Petroleum Limited (ASX: WPL)

Analysts at Ord Minnett have upgraded this energy producer’s shares to a buy rating with an improved price target of $29.05. According to the note, the broker has lifted its oil price estimates to reflect OPEC’s decision to maintain its production cuts. It believes this will keep oil prices higher for longer, putting Woodside in a position to benefit from upcoming offtake agreements and potential asset sales. As a result, it sees a lot of value in its shares today. The Woodside share price is trading at $25.78 this afternoon.  

More reading

• Why the Woodside (ASX:WPL) share price is climbing today
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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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ASX lithium shares Galaxy Resources Limited (ASX: GXY), Orocobre Limited (ASX: ORE) and Pilbara Minerals Ltd (ASX: PLS) have slumped across the board after posting triple-digit returns late-last year. 

Some of the weakness in ASX lithium shares could be attributed to factors such as a crashing Tesla Inc (NASDAQ: TSLA) share price and a slump in the Global X Lithium & Battery Tech ETF (NYSEARCA: LIT) which comprises of companies around the world involved in the lithium cycle, from mining and refining through to battery and electric vehicle production. 

While ASX lithium shares have slumped this year, UBS thinks you should stay bullish on higher lithium prices. 

Shares to leverage higher material prices 

Lithium prices bottomed out late last year after more than two years of spiralling lower. Fastmarkets, which tracks lithium prices, has provided the following commentary on the latest lithium price movements:

• The ex-works China battery-grade lithium hydroxide price hit a 19-month high after producers offered aggressively in response to limited supply.
• China’s domestic battery-grade lithium carbonate price also rose, supported by continuing shortage in the spot market.
• The rest of the world’s battery-grade lithium spot prices continued in an uptrend with most suppliers insisting on higher prices.

UBS bullish on ASX lithium shares 

As lithium markets continue to improve, UBS sees potential upside in the Galaxy and Orocobre share price. 

On 5 March, UBS rated Galaxy as a buy with a $3.90 price target. The broker acknowledges the company’s intentions to ramp up Mt Cattlin to full production rates which should translate to a return to profitability. It estimates Galaxy to deliver FY21 earnings per share of 7.06 cents. At today’s prices, this would translate to a price to earnings of roughly 32.

On the same day, UBS also rated Orocobre as a buy with a $6.70 price target. It notes that Orocobre has improved its cost base from US$4,266/tonne last year to US$3,623/tonne in its most recent half-year result, which reflects the company’s ability to tackle operational challenges.

More broadly speaking, UBS expects lithium prices to be approximately 10-15% higher in 2021. 

More reading

• Morgan Stanley reveals some investment trends to watch in 2021
• ASX lithium shares to get price shock as commodities supercycle charges up
• The Vulcan Energy (ASX:VUL) share price has fallen 17% in 2 weeks
• Leading brokers name 3 ASX shares to sell today
• Orocobre (ASX:ORE) share price dives despite a recovery in lithium markets

Motley Fool contributor Kerry Sun 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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