The Ioneer Ltd (ASX: INR) share price fell hard on open this morning and is down 12.5% at the time of writing.

The lithium-boron producer emerged from a 2-day trading halt today, which it had requested pending the release of details regarding a capital raise.

What did Ioneer report?

The Ioneer share price is tumbling in morning trade after the company reported it had completed an $80 million placement.

Citing strong demand from its current shareholders alongside new investors, Ioneer increased the fully underwritten institutional placement from the initially planned $60 million up to $80 million.

Ioneer said it had strong backing from high-quality international institutions with cornerstone investment provided by BNP Paribas Energy Transition Fund.

The new capital will be put to work to speed up the development of Ioneer’s Rhyolite Ridge Lithium-Boron Project, in the US state of Nevada.

New shares will be issued at 38 cents, some 14% below the 44-cent closing price on Tuesday, the last day of trading before the company entered a trading halt. Ioneer said it expects the new shares to be issued and start trading next Wednesday 10 March.

A word from management

Commenting on the $80 million placement, Ioneer managing director Bernard Rowe said:

We are extremely pleased with the exceptionally strong reaction for our capital raising, which demonstrates the high quality of the Rhyolite Ridge Project based on the support from high quality domestic and international investor groups.

Rhyolite Ridge remains the most advanced and highest quality lithium project in the US, and with these additional funds we look forward to rapidly closing out a number of key value-adding milestones over the course of 2021 as we move quickly towards production and becoming a major part in the US lithium supply chain.

Ioneer share price snapshot

Despite this morning’s falls, Ioneer shares have gained 126% over the past 12 months. By comparison, the All Ordinaries Index (ASX: XAO) is up 7% over that same period.

Year to date, the Ioneer share price is up by 37%.

More reading

• Why the Ioneer (ASX:INR) share price is in limbo today

Motley Fool contributor Bernd Struben 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 Lithium Australia NL (ASX: LIT) share price is sinking on Friday despite the release of a positive announcement.

In morning trade, the lithium company’s shares are down a disappointing 4% to 12.5 cents.

What did Lithium Australia announce?

This morning Lithium Australian announced that its LieNA pilot plant has been given the green light.

According to the release, LieNA is a caustic conversion technology with strong parallels to the production of alumina from bauxite. The process can produce a range of lithium chemicals, including hydroxide, carbonate, and phosphate.

Management notes that lithium phosphate is the preferred product, as it is easy to refine. It also commands a price premium over hydroxide or carbonate and is the ideal precursor to the production of lithium ferro phosphate (LFP) batteries.

LFP is a safe, low-cost type of lithium-ion battery (LIB) which is the fastest growing sector within the LIB market.

What’s next?

Management has advised that pilot concentrate is now being prepared from spodumene-bearing drill chips.

Furthermore, the construction of critical pilot-plant components has begun, with an order for autoclave placed and the initial pilot-plant test run scheduled for September.

Lithium Australia’s Managing Director, Adrian Griffin, appears very optimistic on the LieNA technology.

He commented: “Lithium Australia’s LieNA technology is the pinnacle for hydrometallurgical processing of spodumene, the principal hard-rock source of lithium. LieNA is capable of recovering lithium from fine and/or contaminated spodumene that fails to meet the feed specifications of current converters. It also provides the highest levels of impurity rejection. It is these characteristics that set it apart.”

“LieNA, then, is designed to improve overall recovery and achieve better utilisation of existing resources: it’s about cost reduction, sustainability and maximising the benefit of our critical (and finite) resources,” he concluded.

More reading

• 2 high quality ASX shares to buy for your retirement portfolio
• Why the Evolve Education (ASX:EVO) share price is jumping 8%
• Why the Worley (ASX:WOR) share price is lifting today
• Why the Althea (ASX:AGH) share price is pushing higher today
• Why Tesla stock is stuck in reverse

Motley Fool contributor James Mickleboro 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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If you’re in retirement or approaching it, you may be looking for ways to boost your income in this low interest rate environment.

But which ASX shares could help you achieve this? Two top options for retirees to look at are listed below. Here’s what you need to know about them:

Collins Foods Ltd (ASX: CKF)

The first ASX share to look at is Collins Foods. It is a quick service restaurant operator with a focus on KFC restaurants. At the last count, the company operated a total of 247 KFC restaurants in Australia and 45 in Europe. It also operates 15 Taco Bell restaurants in the Australian market.

Collins Foods has continued its growth over the last 12 months despite the pandemic. During the first half of FY 2021, it reported an 11.3% increase in revenue and a 15.1% lift in underlying net profit after tax.

Looking ahead, management has plans to continue expanding its KFC network in the future. This is both in Australia and in the European market. The latter is significantly underpenetrated in comparison to the Australian market, which could provide it with a long runway for growth.

UBS is positive on Collins Foods. It currently has a buy rating and $11.65 price target on its shares. UBS is also forecasting a fully franked dividend of 22 cents per share in FY 2021. This represents a ~2.3% dividend yield.

Ramsay Health Care Limited (ASX: RHC)

Another ASX share to look at for a retirement portfolio is Ramsay Health Care. It is one of the world’s leading private healthcare companies with operations across several countries.

Ramsay was hit hard by the pandemic and experienced a significant drop in elective surgeries. However, trading conditions are now improving and the company looks well-placed to benefit from a backlog in surgeries in the near term and increased demand for healthcare services over the long term. 

One broker that is particularly positive on the company’s prospects is Goldman Sachs. Its analysts currently have a conviction buy rating and $75.00 price target on Ramsay’s shares.

It believes its shares are trading at an attractive level. Particularly given its solid earnings and dividend growth potential over the coming years.

More reading

• Why investors are cheering for the Ramsay Health Care (ASX:RHC) dividend
• Is it time to buy these 2 hot ASX healthcare shares?
• Top ASX shares to buy in March 2021
• Why the Ramsay Health (ASX:RHC) share price is up 8% today
• 2 excellent blue chip ASX 200 shares to buy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Collins Foods Limited and Ramsay Health Care 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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Evolve Education Group Ltd (ASX: EVO) shares are on the rise this morning after the company announced it was doubling the number of childcare centres it operates in Australia.

At the time of writing, the Evolve share price has jumped 8.47% higher to $1.28. This compares to the S&P/ASX 200 Index (ASX: XJO) which is currently trading 0.86% lower. The company also made a declaration on its dividend payments.

Let’s take a closer look at what Evolve announced.

What did Evolve announce?

The Evolve Education share price is gaining in early trade after the New Zealand-based company said in a statement to the ASX it intends to acquire ten additional childcare centres in Australia. The total licensed capacity for the new centres is 816 children per day. The contract is conditional on certain criteria being met – like licensing.

The contract stipulates that Evolve must pay the vendor $27.1 million for earnings before interest, tax, depreciation and amortisation (EBITDA) of $6.9 million per annum. Additionally, in the 12 months following the settlement of the contract, if Evolve’s EBITDA totals $8.2 million, then the group will need to pay the vendor an extra $5 million.

Commenting on the deal, Evolve managing director Chris Scott said:

This latest acquisition takes the total number of centres operated by EVO to 116 in New Zealand and 20 in Australia, Minimal additional Support Office costs will be incurred in managing these extra 10 centres.

The company declared the purchases will be funded using available cash on hand. As well, the move “will be earnings per share (EPS) positive from settlement”.

In further news driving the Evolve share price, the company also revealed today that it will resume paying dividends in the final quarter of FY21. Evolve advised that further details will be provided regarding the dividend later this year.

Evolve share price snapshot

In the midst of the COVID-19 pandemic, the Evolve share price hit a 52-week low of 37.5 cents. Since then, Evolve shares, along with the market as a whole, has made a steady recovery. If an investor had bought shares in the company this time last year, they would be sitting on a healthy return of around 64%.

Yet, in 2017, the Evolve share price was trading as high as $4.01. That means the company’s shares would need to surge by more than 200% to reach this level again.

More reading

• Lithium Australia (ASX:LIT) share price lower despite LieNA update
• 2 high quality ASX shares to buy for your retirement portfolio
• Why the Worley (ASX:WOR) share price is lifting today
• Why the Althea (ASX:AGH) share price is pushing higher today
• Why Tesla stock is stuck in reverse

Motley Fool contributor Marc Sidarous 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 Worley Ltd (ASX: WOR) share price is up slightly this morning after the company announced an extended contract with a UK partner.

At the time of writing, the global engineering company’s shares are up 0.66%, trading at $10.60. 

Renewed contract

In today’s release, Worley advised that INEOS O&P UK has renewed its master services agreement for its Grangemouth, United Kingdom site. One of the largest manufacturing plants in the country, INEOS O&P UK produce chemical products that include ethylene, polyethylene and ethanol. This is then used to create bottles and pipes, cabling and insulation, food packaging, and more.

Under the agreement, Worley will provide engineering services for ongoing maintenance and upgrades to the facility. These works are expected to be small in capital expense terms and will run for 4 years.

The deal will be managed by Worley’s Glasgow, United Kingdom office, and supported by the Global Delivery team.

CEO commentary

Worley CEO Chris Ashton welcomed the extended partnership, saying:

Worley has been at Grangemouth for more than 20 years and this extension of our master services agreement reinforces the strong relationship the Worley team has developed with INEOS O&P UK. We look forward to continuing our relationship and helping INEOS O&P UK achieve its sustainability goals.

Worley overview and share price snapshot

A leading global engineering company, Worley provides design and project delivery services, including maintenance, reliability support services and advisory services. The business operates in the energy, chemical and resources sector.

The Worley share price has fallen around 13% over the last 12 months, and 8% lower year-to-date. Although the company has announced a raft of agreements in the past 3 months, its share price has failed to take-off.

Based on current valuations, Worley commands a market capitalisation of roughly $5.5 billion.

More reading

• Why the Worley (ASX:WOR) share price is climbing today
• Why the Worley (ASX:WOR) share price will be on watch today
• What’s with the Worley (ASX:WOR) share price today?
• Oil’s recovery is happening faster than you think: Citigroup
• These were the worst performing ASX 200 shares last week

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 Althea Group Holdings Ltd (ASX: AGH) share price is on course to end the week on a positive note.

At the time of writing, the cannabis company’s shares are up 2% to 52 cents.

Why is the Althea share price pushing higher today?

Investors have been buying Althea shares this morning following the release of a positive announcement.

That announcement reveals that its Canadian subsidiary, Peak Processing Solutions, has received an initial purchase order from Peace Naturals Project.

Peace Naturals Project is a subsidiary of C$4.4 billion and Nasdaq listed cannabis giant Cronos Group.

According to the release, the initial purchase order forms part of a larger one-year commercial services agreement and is valued at approximately C$134,000.

Under the agreement, Peak Processing will perform the hydrocarbon extraction of cannabis biomass and process the extract into cannabis concentrate products, ready for sale into the Canadian adult-use cannabis market.

Management notes that the capability to produce hydrocarbon extracted cannabis concentrates is in limited supply in Canada. Positively for Althea, Peak Processing is among a handful of processors able to service this in-demand product category. Production is expected to commence this month.

Management commentary

Althea’s CEO, Joshua Fegan, was pleased with the agreement and notes that its Peak Processing business has started 2021 strongly.

He said: “It is pleasing to see how quickly the Peak business is taking off this year, attracting a world-class supply agreement with Peace Naturals, just a few months post licensing. We look forward to continuing to secure supply agreements with other like-minded players in the fast-growing Cannabis 2.0 space and further demonstrating the world-class cannabis extraction capabilities of Peak.”

Today’s gain means that the Althea share price has now risen an impressive 73% since this time last year.

This compares very favourably to a 5% gain by the benchmark ASX 200 index.

More reading

• Why the Althea (ASX:AGH) share price is surging 8% higher today
• Here’s why the Althea (ASX:AGH) share price is racing 8% higher today
• What will Elite Cannabinoids mean for ASX cannabis shares?
• How did ASX cannabis shares perform in 1H FY21?
• Here’s why the Althea (ASX:AGH) share price is jumping 7% today

Motley Fool contributor James Mickleboro 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Tesla Inc (NASDAQ: TSLA) stock remained in reverse gear Thursday morning, rolling toward its third straight day of losses with the share price down 1.3% as of 11:20 a.m. EST.

Why? My fellow Fool and Tesla-watcher Daniel Sparks told you the first half of the story on Wednesday: A new report out of Morgan Stanley says that Ford Motor Company (NYSE: F)‘s new Mustang-E is cutting into Tesla’s electric vehicle market share in the United States — it dropped by 12 percentage points in February.

The second part of this story dropped later Wednesday night. CNBC reported that Fiat Chrysler — now part of Stellantis (NYSE: STLA) — spent $362 million last year buying regulatory credits to offset the emissions of the cars it sells. Most of this money went to Tesla, which has credits aplenty to sell because the cars it manufactures don’t emit carbon at all.  

So what

So why is that important? Last year, Tesla raked in $1.6 billion in 100%-margin regulatory credit revenue, selling credits it doesn’t need to automobile manufacturers that do. Analysts are hoping that this business will boom even bigger in 2021, dropping as much as $2 billion in revenue straight down to Tesla’s bottom line, and thus helping it to grow its earnings.  

But here’s the thing: Stellantis plans to cut back its purchases of regulatory credits this year — not by much, but by some. It certainly doesn’t plan to increase those purchases by 25%. And if other car companies follow Stellantis’s lead and fail to increase their credit purchases, or even ratchet them back, then the primary source of Tesla’s profits could at best be peaking, and at worst — reversing.

Now what

Now consider what that trend might look like as more and more automakers — companies like Hyundai, Volkswagen, and GM — start selling more EVs of their own. Consider what it might look like if these other car companies not only don’t need to buy as many credits, but start producing some credits that they can sell. And consider what it might look if these other companies start to steal electric vehicle market share from Tesla, cutting into the amount of credits Tesla generates to sell.

The scenario above may not necessarily spell doom for Tesla, but it certainly doesn’t help support the case for Tesla stock trading at more than 900 times earnings.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• Shocking photo shows how quickly electric cars could take over
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• Why this ASX tech ETF is in the buy zone
• How Tesla’s (NASDAQ:TSLA) Elon Musk just lost $19 billion
• Why Tesla and Peloton Interactive led the Nasdaq lower Wednesday

Rich Smith has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. 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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NextDC Ltd (ASX: NXT) shares slipped to a 9-month low this week despite an upbeat half-year result which included an upgrade to its FY21 guidance. While the NextDC share price has gone south, some big brokers were impressed with the results and have maintained a bullish stance. 

Broker ratings for the NextDC share price 

On 2 March, Morgan Stanley retained an overweight rating for the NextDC share price with a $14.60 price target. The broker noted that the company’s first-half revenues and operating income were ahead of estimates with a strong pick up in business activity in the new year. 

Citi is also bullish on the NextDC share price but made a slight price target adjustment from $14.80 to $14.45 with a buy rating on 4 March. The broker described the company’s results as solid, with revenue and operating income margins ahead of forecasts. Themes such as accelerated cloud adoption and digitisation were factors behind the broker’s positive view. 

1H21 highlights 

NextDC’s half-year results were solid across all reporting metrics. The company delivered a 27% increase in revenue to $121.6 million and a 29% improvement in earnings before interest, taxes, depreciation, and amortisation (EBITDA) to $65.7 million.

The company is still on its journey to profitability, reporting a loss after tax of $17.5 million. NextDC is well capitalised for growth with $716 million in cash and cash equivalents as of 31 December 2020. It also has a number of debt facilities to provide additional liquidity and capital if required. 

Taking a look at the bigger picture, NextDC has delivered a compound annual growth rate (CAGR) of 21% for revenue and 32% for EBITDA since 2H17. It highlights the increasing use of hybrid cloud and connectivity both inside and outside the data centre as customers expand their digital ecosystems. 

Upgraded guidance fails to ignite NextDC share price 

Upgraded guidance is always the icing on the cake after a solid earnings announcement. NextDC upgraded its revenue guidance to $246 million to $251 million (previously $242 million to $250 million). The business is seeing strong growth in recurring data centre services revenue, underpinned by long-term customer contracts. 

The company’s continuous investment into new centres creates additional capacity and inventory across all markets to drive further enterprise and network opportunities. 

Foolish takeaway

Strong results, upgraded guidance and positive broker ratings have been unable to turn the NextDC share price around so far this week. The company’s shares have dropped by more than 5% since its half-year result and by nearly 14% year to date. 

However, it’s not just the NextDC share price that’s been underperforming. The S&P/ASX 200 Info Tech (ASX: XIJ) index has also been struggling, falling by more than 10% in February, despite the ASX 200 closing 1% higher. 

More reading

• Top ASX shares to buy in March 2021
• NEXTDC (ASX:NXT) share price on watch after strong half and guidance upgrade
• 3 of the best ASX shares you can buy right now
• Is HyperOne listed on the ASX?
• 2 ASX tech shares to buy for cloud computing exposure

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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There are some ASX shares that could be cheap and may be worth looking at.

One of the most common ways that investors try to compare different investments is by looking at the price / earnings ratio (P/E ratio). The lower it is, the cheaper it is, though that doesn’t necessarily give the best indication of value.

However, there are some businesses that are growing quickly yet are valued at a relatively low p/e ratio compared to other companies and sectors.

Here are two that fit that description:

Accent Group Ltd (ASX: AX1)

Accent is an ASX retail share that sells a large array of different shoe brands from its different stores. Its flagship chain of retail outlets is called The Athlete’s Foot.

Like plenty of other retail shares, the company is experiencing high levels of growth in these strange times due to COVID-19.

In the recent FY21 half-year result, total sales went up by 6.6% to $541.3 million. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) went up by 44% to $97.5 million, earnings before interest and tax (EBIT) grew by 47.3% to $81.8 million and earnings per share (EPS) rose 56.9% to 9.76 cents.

This result was driven by a 110% increase of online sales to $108.1 million, which represented 22.3% of total sales.

The strong result allowed the company to pay a record ordinary interim dividend of 8 cents per share, up 52.4% compared to the prior corresponding period.

In the first eight weeks of FY21, like for like sales were up 10.7%, whilst digital sales were up 65.4%.

The Accent CEO Daniel Agostinelli said:

Accent’s integrated digital capability, large and growing store network, strong portfolio of exclusive distributed brands and emerging capability in building new business formats and vertical products continues to drive strong sales and margin growth. The management team remains focused on driving digital growth and innovation. With long-term objectives and incentives linked to driving at least 10% compound EPS growth, Accent continues to be defined by strong cash conversion and the consistently strong returns it delivers on shareholders’ funds.

According to Commsec, the Accent share price is valued at 16x FY21’s estimated earnings.    

Nick Scali Limited (ASX: NCK)

Citi currently rates Nick Scali as a buy and has a share price target of $12.05.

Furniture business Nick Scali is seeing record levels with its order book, which is an indicator of future revenue and potential profit. The sales order growth in January 2021 was up 47%, representing the largest month of written sales orders in the company’s history.

The furniture business said that in the first six months of FY21 its sales revenue climbed 24.4% to $171.1 million, with pre-AASB16 EBITDA jumping 94.2% to $60.2 million and EBIT doubling to $57.7 million.

Nick Scali’s margins climbed substantially during the six-month period, with the gross profit margin increasing by 180 basis points to 64% and the EBIT margin growing by 1,270 basis points to 33.6%.

Underlying EPS doubled to 50 cents, allowing the board to increase the interim dividend by 60% to 40 cents per share.

Nick Scali has its eyes on the online growth potential. The company said in the half it saw $8.8 million of written sales orders, with an EBIT contribution of $3.5 million. It now expects to significantly exceed the $4 million contribution previously forecast for the full year. The company also said:

There remains significant scope for growth in the online segment, via adjacent product opportunities as well as continuing to build Nick Scali’s online offering in New Zealand. Investment in the capability is underway with further updates expected in the second half of FY21.

According to Citi, the Nick Scali share price is trading at 11x FY21’s estimated earnings with a projected grossed-up dividend yield of 11%.

More reading

• 2 ASX dividend shares with generous yields
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• 3 ASX shares that doubled their profit in reporting season
• This fantastic ASX dividend share will help you beat low interest rates
• Accent (ASX:AX1) share price on watch following earnings release

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Finding top shares to buy in March 2021 could prove to be a tough process. The stock market has rallied after the 2020 market crash. As such, some companies may now appear to be overvalued based on their financial prospects.

However, it may still be possible to unearth top stocks that offer a mix of competitive advantages, solid finances and low valuations. Such companies could offer favourable long-term growth opportunities relative to other businesses.

Searching for top shares where other investors are not looking

A good place to start when searching for top shares could be unpopular sectors. Other investors may have disregarded them based on a variety of factors, including their uncertain prospects or a rapid pace of change that is taking place. This may provide opportunities to buy high-quality companies when they are trading at attractive prices.

Clearly, every investor will have their own version of what represents an attractive company. However, it could include those businesses that have solid financial positions and the capacity to adapt to a changing economic outlook. Through looking for such businesses where other investors are not spending much time doing likewise, it may be possible to unearth the most appealing buying opportunities following the stock market rally.

For example, investors may not be especially upbeat about the prospect of finding top shares in sectors such as financial services or energy at the present time. They face difficult operating conditions that could lead to losses for investors in what remains a precarious economic environment. However, by identifying the strongest businesses within such sectors, it may be possible to find undervalued companies within them.

Comparing stocks to their peers

Once a potential buying opportunity has been found, it may be a good idea to make a comparison with sector peers. This can provide a guide as to whether it among the top shares to buy today.

For example, two companies operating in the same sector may have similar valuations. However, one business could have a wider economic moat, such as a unique product or strong brand, that reduces its overall risks. Similarly, two stocks could have wildly different valuations – even though they have similar cost bases and revenue drivers. This may mean there is a misprising opportunity that can be exploited by investors.

Assessing a company’s quality

Clearly, the future is always a known unknown. Even top shares that offer a mix of low prices and solid financial prospects can underperform the market. They may even fail to deliver a positive return in the coming years.

However, by taking the time to analyse specific sectors that may be unpopular at the present time, it may be possible to obtain a relatively attractive risk/reward ratio. Over time, this may lead to attractive portfolio returns.

More reading

• 2 cheap ASX shares to buy with impressive growth
• Why the Bellevue Gold (ASX:BGL) share price is on watch
• Is the Xero (ASX:XRO) share price in the buy zone after its acquisition?
• Can the ANZ (ASX:ANZ) share price go even higher?
• Shocking photo shows how quickly electric cars could take over

Motley Fool contributor Peter Stephens 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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