One of the undercurrents in the world of investing over the past year or so has been the rise (or perhaps re-rise) of cryptocurrencies like Bitcoin (CRYPTO: BTC). Yes, markets have spent 11 of the past 12 months rising, usually enthusiastically. The S&P/ASX 200 Index (ASX: XJO) is up roughly 50% since 23 March last year. The US tech-heavy Nasdaq Composite (INDEXNASDAQ: .IXIC) Index is up almost 100% over the same period.

But all of these moves, which are independently very strong by historical standards, pale against what has happened with Bitcoin. Since 23 March last year, the price of Bitcoin has rocketed more than 600% (in US dollar terms). Just last month, the cryptocurrency set a series of new all-time highs, first rising over US$50,000, then US$55,000. It peaked at more than US$57,400 on 12 February. Today, Bitcoin has given up some of those gains, but is still trading for US$49,719 at the time of writing. That’s a level that would have been a new all-time high just a fortnight ago.

Moves like these have naturally elicited new rounds of FOMO, of investors who have thus far stayed off of the Bitcoin train, but can’t bear to keep watching it go up and up. Those investors might find some interest in a report from the Australian Financial Review (AFR) this week.

Fundie: Bitcoin is here to stay

The report is authored by Mark Carnegie, a founding partner of American alternative asset manager M.H. Carnegie & Co. His first line is, “it took too long, but I now believe that crypto is here to stay”.

Mr. Carnegie has enthusiastically come around to Bitcoin and other cryptocurrencies like Ethereum (CRYPTO: ETH) as a “new asset class”. He says his portfolios “have a giant hole in them because they don’t include Bitcoin and Ethereum”.

So what’s changed? Well, it’s the expansion of the global money supply (i.e. money printing) that’s got Cargenie keen on cryptocurrencies:

Hard currency has been around a very long time but there has never been as much of it borrowed or spent as in the past 18 months. Don’t waste your time looking for financial prudence. There isn’t any. Not in any corner of the globe. Nor is there any convincing theory about how we are going to unwind the knot.

Carnegie calls Bitcoin and Ethereum “insurance” against this “abandoning of sound money”. Since Bitcoin and, to a lesser extent, Ethereum, have a finite supply mechanism built in, and cannot be ‘printed’ at will, they are intrinsically resistant to inflation and currency debasement. Carnegie compares them with precious metals like gold and platinum in this regard.

He finishes by stating that:

If you are wondering what all the fuss is about, then ask yourself this: What insurance have I bought against the world’s financial system creating a monetary policy-resistant financial crisis? It might just be that crypto is the vaccine you need.

An interesting perspective on Bitcoin and cryptocurrencies indeed!

More reading

• Goldman Sachs to relaunch trading in Bitcoin futures
• The latest ASX shares that brokers have upgraded to “buy”
• ASX 200 up 0.3%: Mesoblast raises US$110 million, tech shares rebound
• ASM (ASX:ASM) share price jumps as scoping study supports $45m plant build
• 5 things to watch on the ASX 200 on Tuesday

Sebastian Bowen owns Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Bitcoin. 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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Australian Potash Ltd (ASX: APC) shares were on the rise this morning after the company announced its government loan has been approved. At one point during intraday trade, the Australian Potash share price jumped by more than 9% to 18 cents.

However, at the time of writing, the mineral explorer’s shares have retreated back to 16.5 cents, flat for the day so far. 

What caused the Australian Potash share price to jump?

The Australian Potash share price surged ahead in morning trade after the company announced that the Northern Australia Infrastructure Facility (NAIF) had approved its $140 million loan.

The company will use the funds to develop its Lake Wells Sulphate of Potash (SOP) project near Laverton in Western Australia.

The company advised the 17-year loan will be interest-only “until such time as other tranches are repaid”. The loan will then convert to principal and interest. The security for the loan is the Lake Wells Project itself. Australian Potash did not disclose the interest rate.

The loan facility is still subject to commercial and project conditions, as well as state and federal ministerial approval.

The company also declared that it expects to receive a tranche of the senior debt facility from Export Finance Australia.

Australian Potash claims the Lake Wells Project will be the lowest CO² emitting SOP project in Australia.

Words from the CEO

Australian Potash managing director and CEO Matt Shackleton said the following regarding the financing:

We are very pleased to advise the first major step in financing the development of Lake Wells, with the board of NAIF resolving to support this regionally important project that returns strong social and economic benefits…

We continue to enjoy strong relationships with stakeholders in the local community of Laverton, most importantly with senior traditional owners.

He added:

We now turn our attention to closing out the balance of the development financing pathway, and to moving into the pre-mobilisation phase of the development of the Lake Wells Sulphate of Potash Project.

Lake Wells is a substantially de-risked, technically sound, low cost and socially responsible project that will deliver a premium product for at least 30 years.

What does Australian Potash do?

Australian Potash is a mineral exploration company primarily focused on, you guessed it, potash. Beyond the Lake Wells Potash Project, its other endeavours include the Lake Wells Gold Project, and Laverton Downs Project.

According to the company’s website, potash is described as “potassium-bearing minerals or compounds.” Potassium is mainly used to aid plant growth. Some of the element’s benefits include thickening plant cell walls and protecting plants from drought and diseases.

What is NAIF?

According to the agency’s website, “NAIF is a Commonwealth Government agency established to facilitate economic growth by lending to infrastructure projects and businesses in northern Australia and helping to catalyse private sector investment.”

NAIF is focused on the mining and energy sectors, tourism, agriculture, and education. Its purpose is to drive economic growth in Northern Australia. The Commonwealth defines the region as areas in Queensland and Western Australia north of the Tropic of Capricorn, as well as the entire Northern Territory.

Australian Potash share price snapshot

In March last year, the company’s shares were selling at 7 cents each. With today’s Australian Potash share price currently sitting at 16.5 cents, this puts its gains at more than 135% over the past twelve months. Year to date, the company’s shares have also jumped by 25%.

Based on the current share price, the company has a market capitalisation of around $91 million.

More reading

• ECS Botanics (ASX:ECS) share price edges lower despite positive update
• Here’s why the Pacific Smiles (ASX:PSQ) share price is frozen
• Leading brokers name 3 ASX shares to sell today
• Is Reddit’s GameStop (NYSE:GME) crowd targeting Asian shares?
• The Dicker Data (ASX:DDR) share price has pumped 47% in 6 months

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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ECS Botanics Holdings Ltd (ASX: ECS) share price is trading lower in mid-afternoon trade. This comes despite the company announcing that Murray Meds has signed a Memorandum of Understanding (MoU) with an Australian-based cannabis group.

When news broke out this morning, the ECS share price rose to an intraday high of 7.5 cents. However, some profit-taking has contributed to its shares falling to 6.9 cents, down 2.8% at the time of writing.

What did ECS announce?

The ECS share price is softening regardless of the positive announcement made earlier today.

According to its release, ECS advised that Murray Meds entered a MoU with an undisclosed subsidiary of a large medical cannabis company.

In January this year, ECS signed a binding term sheet to acquire 100% of Victoria-based medical cannabis cultivator, Murray Meds.

Located on the Murray River in North Western Victoria, Murray Meds operates a licenced medical cannabis cultivation and manufacturing facility. The company produces around 3,500kg of medicinal cannabis per year consisting of dried flower, oils, and tinctures.

Terms of the MoU

Under the conditions of MoU, Murray Meds and the contracting party will meet throughout the 12-month term to discuss the potential cultivation and supply of cannabis. This will include a review of Murray Meds production capacity in servicing the contracting party’s needs.

It is believed that the MoU will eventually be replaced with a production plan and quality contract in the long-term.

ECS stated that it’s too early to grasp quantities, specifications, and pricing of the cannabis products from the MoU. In light of this, no financial figures could be provided in the release.

About the ECS share price

The ECS share price has accelerated over the last year, jumping to more than 90%. The company’s shares hit a low of 1.5 cents in March 2020, before strongly rebounding from December onwards.

Based on the current share price, ECS has a market capitalisation of around $30 million.

More reading

• Here’s why the Pacific Smiles (ASX:PSQ) share price is frozen
• Leading brokers name 3 ASX shares to sell today
• Is Reddit’s GameStop (NYSE:GME) crowd targeting Asian shares?
• The Dicker Data (ASX:DDR) share price has pumped 47% in 6 months
• No ASX dividend share is perfect, but Soul Patts (ASX:SOL) is more perfect than most

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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Pacific Smiles Group Ltd (ASX: PSQ) shares are frozen today after the dental centre operator requested a trading halt as it announced details of a capital raising. The Pacific Smiles share price closed yesterday’s session at $2.70.

What was announced?

The Pacific Smiles share price is not going anywhere today. This comes after the company advised it will seek to raise $15 million through a placement of new shares. Further to this, another $5 million will be raised through a share purchase plan (SPP).

The reasoning provided for the injection of funds is to accelerate growth opportunities and increase liquidity. This comes after the company recorded a solid result for 1H FY21. Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 64.7% year-on-year to $21.2 million.

The company intends to open 15 new dental centres during FY21. From here, the rollout is expected to increase to over 20 per year. Furthermore, Pacific Smiles sees a long runway for growth ahead in Australia. In addition, it has a desire to capture more than 5% of the addressable market.

The placement will be at an offer price of $2.60, representing a 3.7% discount to its last close price. Meanwhile, the SPP will be offered to shareholders in Australia and New Zealand up to a maximum amount of $30,000.

Following the capital raising, Pacific Smiles will hold approximately $18 million of net cash and $37 million of debt facilities to orchestrate its expansion goals.

When will Pacific Smiles trade again?

As detailed in the announcement, the company’s timeline indicates shares will commence trading on Wednesday 3 March. This is following the completion of the placement.

Eligible shareholders can expect to receive their application documents after 8 March. The SPP will then close on 18 March.

Notably, all new shares purchased through the cap raise will be eligible for Pacific Smiles 2.4 cents per share fully franked dividend.

Smiling about the Pacific Smiles share price?

In the last 12 months, the Pacific Smiles share price has grown by 54%. For comparison, the S&P/ASX 200 Index  (ASX: XJO) has appreciated by 6.4% during the same time period. The last 6 months alone has returned 46% for shareholders of Pacific Smiles. I bet they can’t wipe the smile off their faces about that!

More reading

• Leading brokers name 3 ASX shares to sell today
• Is Reddit’s GameStop (NYSE:GME) crowd targeting Asian shares?
• The Dicker Data (ASX:DDR) share price has pumped 47% in 6 months
• No ASX dividend share is perfect, but Soul Patts (ASX:SOL) is more perfect than most
• The Argosy (ASX:AGY) share price is racing 9% higher. Here’s why.

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

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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

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

Afterpay Ltd (ASX: APT)

According to a note out of UBS, its analysts have retained their sell rating but lifted their price target on this payments company’s shares to $36.00. This follows the release of Afterpay’s half year results and $1.25 billion capital raising. UBS continues to believe that its shares are vastly overvalued and sees no reason to change its rating. Though, it acknowledges that the market is unlikely to see things the same way in the near term. The Afterpay share price is trading notably higher than this price target at $125.69 this afternoon.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

A note out of Citi reveals that its analysts have retained their sell rating but increased their price target on this pizza chain operator’s shares to $72.40. While the broker acknowledges that there’s a lot to like with Domino’s, it feels its valuation is stretched after a strong gain over the last 12 months. This could put a lot of pressure on its shares if its growth stutters. The Domino’s share price is trading at $90.26 this afternoon.

Orocobre Limited (ASX: ORE)

Analysts at Macquarie have retained their underperform rating but lifted their price target on this lithium producer’s shares to $2.90. This follows a larger than expected first half loss. Furthermore, with a lot of its offtake already contracted, it feels Orocobre won’t benefit fully from price increases until FY 2022. That’s if lithium prices hold firm until then. The Orocobre share price is fetching $4.67 on Tuesday afternoon.

More reading

• Is Deferit listed on the ASX?
• Why Afterpay, IOUpay, Liontown Resources, & Redbubble are racing higher
• Here’s why the Afterpay (ASX:APT) share price fell 11% in February
• Leading brokers name 3 ASX shares to buy today
• Here’s how much Afterpay (ASX:APT) rival Klarna is worth now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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The so-called Reddit army has sent shares in video game retailer GameStop Corp (NYSE: GME) alternately surging and plummeting over the past weeks. This, as the loosely linked group of retail day traders takes aim at short sellers (those hoping to profit when a company’s share price falls) while looking to pocket some quick capital gains of their own.

Yesterday (overnight Aussie time), the GameStop share price surged again, closing up 18%. However, it may well give back some of those gains tomorrow, with shares down 5% in after-hours trading.

While shares like GameStop continue to draw attention from the retail army, it looks like select Asian shares may already be on the radar.

What happened with Bank of Japan shares?

The Bank of Japan (TYO: 8301) shares trade on the Tokyo Stock Exchange’s Jasdaq section. And yesterday, the share price rocketed 18%, the daily limit. According to Bloomberg, that’s the biggest leap for the Bank of Japan’s shares (officially called subscriber certificates) since 2005.

Now the big daily gains didn’t come from long-term investors seeking regular dividends, as Japan’s central bank pays minimal dividends.

According to Tomoichiro Kubota, a senior market analyst at Matsui Securities Co:

[S]hort-term retail investors don’t care about dividends, they’re looking just for capital gains. They’ll see it as attractive so long as the share price keeps rising and there are buyers.

Caveat emptor

That’s good insight there from Kubota.

Many of these short-term retail investors are making decisions based purely on share price momentum. “So long as the share price keeps rising and there are buyers”, they’re likely to hold or add to their positions.

On the flip side, when the share price starts falling, you often see the Reddit army rush for the exits. Hence some of the big share price falls witnessed by the likes of GameStop following the big runs higher.

As for the Bank of Japan, that’s not happening today. After yesterday’s 18% lift, shares are up 16% in intraday trading today.

Over the past 5 days, the Bank of Japan’s share price has soared 49%.

More reading

• Why GameStop (NYSE:GME) stock soared another 18% today
• Robinhood fires back at Berkshire Hathaway’s Charlie Munger over criticism
• Is the Reddit army planning another GameStop (NYSE:GME) short squeeze?
• Here’s why GameStop stock just exploded higher
• GameStop CFO resigns

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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Dicker Data Ltd (ASX: DDR) shares are on the rise today, up 4.09% to $11.26 at the time of writing, But over the last six months, the Dicker Data share price has surged by more than 47%.

Let’s take a look at what’s been happening for the computer hardware distributor. 

FY20 financial highlights 

According to its FY20 results released last week, Dicker Data experienced significant gains compared to the prior corresponding period (pcp).

Despite the Dicker Data share price falling lower on the day its full-year results were released, the company posted a 12.8% jump in revenue for FY20. Revenue totalled $2 billion vs $1.8 billion in the pcp.

The company advised the gains were partly attributable to it adding new vendors and offering a wider product range as part of its growth strategy.

Gross profit for FY20 was up 20.8% at $191.4 million vs $158.4 million in FY19.

Net operating profit before tax also took a 27.7% jump from $64.1 million in FY19 to $81.2 million in FY20.

Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) gained 23.9% in FY20 at $91.4 million compared to $73.8 million in the year prior.

Total FY20 dividends paid were 35.5 cents per share.

CEO comments on Dicker Data share price

In the company’s annual report released 25 February, CEO David Dicker pointed out:

We listed DDR at 20 cents per share on 24 January 2011, with a market cap of $25 million. Ten years later our shares are trading around $12 and we have a market cap of $2 billion. An original shareholder’s stake of 10,000 shares at $2,000 would now be worth around $120,000. A very satisfying outcome.

Outlook and strategy

The company presently reports selling to over 6,900 partners and added eight new vendors in FY20.

According to Dicker Data, it continues to actively pursue growth opportunities through expanding its vendor network and establishing strategic partnerships.

The business advised that going forward, it will “continue to evolve and differentiate our offerings…” in Australia and New Zealand.

The Dicker Data share price has gained around 93% over the past year. There are presently 172.1 million shares outstanding.

More reading

• Dicker Data (ASX:DDR) share price lower despite record-breaking result
• Why the Dicker Data (ASX:DDR) share price almost hit a record high today

Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data 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 famous climax of George Orwell’s 1945 classic Animal Farm is revealed as “all animals are equal, but some are more equal than others”. In the story, the irony of this ‘commandment’ is so palpable you can taste it. Fortunately, the nature of Washington H. Soul Pattinson & Co Ltd (ASX: SOL) as a near-perfect dividend share isn’t as ironic. Yes, it’s true that no ASX dividend share (or any share, for that matter) can be perfect. Shares are always risky investments, forever subject to the whims of the market they trade on.

But as an ASX dividend share, it’s hard to argue with Soul Patts’ record. Soul Patts is an industrial conglomerate. Even though it started life as a humble chain of pharmacies back in the 1800s, today, it looks very different. This company has made a name for itself as an investor in its own right. Soul Patts owns a large stable (or portfolio) of ASX shares itself. Not in small quantities either.

The company owns a 25.3% stake in TPG Telecom Ltd (ASX: TPG). It owns a 43.9% share of Brickworks Ltd (ASX: BKW). Throw in 50% of New Hope Corporation Limited (ASX: NHC). And a 22.6% stake in Clover Corporation Limited (ASX: CLV). It also owns 100% of Round Oak Minerals (a copper, zinc and gold miner) and 100% of Pitt Capital Partners (a corporate advisory firm). That’s amongst many other listed and non-listed investments that would take too long to get into today.

Soul Patts: An ASX dividend aristocrat

Needless to say, Soul Patts has a diversified asset base. But what’s this got to do with dividends? Well, everything, as it turns out. This earnings base is so durable that Soul Patts has the distinction of being able to boast the ASX’s longest-running streak of annual dividend increases. Not ‘steady or increasing’, just increasing.

Yes, Soul Patts has increased its annual dividend every single year since 2000. No other ASX company can claim that record, period.

Here’s what that looks like:

As a dividend investor, a staircase like that is a beautiful sight. And let’s remember what this really means. Soul Patts’ business was strong enough to support increased dividend payments during the tech-wreck of the early 2000s, the global financial crisis of 2008/09, and (of course) the coronavirus pandemic.

The bad news for investors is that the current Soul Patts share price is pretty close to its all-time high of late ($30.84). At the current share price of $30.36 (at the time of writing), Soul Patts’ trailing dividend yield is sitting at 1.98%, fully franked. The markets can be fickle, but they will still usually make you pay up for quality. No shares are perfect, but Soul Patts’ dividend record is certainly more perfect than all the others.

More reading

• Why a2 Milk, Service Stream, TPG, & Zip shares are tumbling lower
• TPG (ASX:TPG) share price seesaws on full-year results
• New Hope (ASX:NHC) share price on watch on Q2, 48% higher coal prices
• 3 ASX shares that keep growing the dividend every year
• Is HyperOne listed on the ASX?

Sebastian Bowen owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Clover Limited. The Motley Fool Australia owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Argosy Minerals Limited (ASX: AGY) share price is surging today following an update on its Rincon Lithium Project. At the time of writing, the lithium miner’s shares are up 9%, trading at 11.5 cents.

Let’s take a closer look and see what Argosy reported to the ASX market this morning.

Developments works schedule

The Argosy share price is on the rise after the company gave investors a clearer picture of its plans for the Rincon project.

In today’s release, Argosy provided a development works schedule for project construction. The timetable outlines the production phase to mine 2,000 tonnes per annum of lithium carbonate from late in the second quarter of FY22.

Argosy holds a 77.5% interest in the Rincon project, located in Salta Province, Argentina. The mine is situated within the ‘lithium triangle’ – the world’s dominant lithium production source.

The company advised that it has prepared a detailed construction and development schedule to build the lithium carbonate process plant. This will involve major works consisting of earth-moving equipment and site construction of the plant as well as associated installations.

In addition, Argosy will expand the brine system to include a pumping station and plant settling ponds. The entire build stages will run throughout the current calendar year, with completion around early 2022.

Once the construction phase is finished, Argosy will begin plant commissioning, test-works, and ramp-up over a 4-month period. Should everything go smoothly, the company will then start production operations.

Comments from the managing director

Argosy managing director Jerko Zuvela touched on the company’s 2022 target, saying:

The company’s Puna operations team have prepared a comprehensive and detailed work schedule and associated timeframe for targeted production of >99.5% battery quality lithium carbonate product.

We are fully funded to transform Argosy into an exclusive producer and cash flow generator, and are completely focussed on achieving this target and establishing the pathway for continued commercial scale development, as we become only the second ASX-listed battery quality lithium carbonate producer. We look forward to a significant near-term growth phase with increasing development activity at the Rincon Lithium Project.

The Argosy share price has gained more than 90% over the past 12 months.

More reading

• Argosy (ASX:AGY) share price plummets 7% despite positive update
• Why the Argosy (ASX:AGY) share price is shooting 7% higher today
• Why Argosy Minerals, Sigma, Vocus, & Zip shares are charging higher

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 Flight Centre Travel Group Ltd (ASX: FLT) share price is trading lower on Tuesday despite some positive news out of the travel agent giant.

At the time of writing, the Flight Centre share price is down over 1% to $16.84.

What did Flight Centre announce?

This afternoon Flight Centre provided an update on its UK COVID-19 loan and funding.

According to the release, Flight Centre has been approved to extend the short-term 65 million pounds loan it received last year under the Bank of England’s COVID Corporate Financing Facility (CCFF).

These funds were were initially made available for 12 months to support short-term liquidity as the company worked to overcome the disruption caused by COVID-19 and the restrictions that were applied to slow the spread of the virus.

This term was due to end in March 2021, however, the Bank of England has now approved a 12-month extension through to March 2022.

In addition to this, the central bank has made an additional 50 million pounds debt facility available through to March 2022.

Last month the company revealed that it had liquidity of $1.2 billion at December 31. This includes the initial 65 million pounds loan but not the addition 50 million pounds debt facility.

Flight Centre’s Managing Director, Graham Turner, commented: “While some positive signs are emerging, the travel, tourism and aviation industries still face significant challenges while widespread travel restrictions are in place. We thank the Bank of England for its ongoing and proactive support, which will help businesses save jobs and weather the near-term challenges.”

Is the Flight Centre share price in the buy zone?

One leading broker that sees value in the Flight Centre share price is Macquarie.

According to a note out of investment bank last week, its analysts upgraded the company’s shares to an outperform rating with an improved price target of $20.00.

Based on the current Flight Centre share price, this implies potential upside of 19% over the next 12 months.

More reading

• The latest ASX shares that brokers have upgraded to “buy”
• These are the 10 most shorted shares on the ASX
• ASX 200 Weekly Wrap: Friday carnage ruins last week of ASX earnings
• These were the best performing ASX 200 shares last week
• Why Flight Centre, Life360, Nanosonics, & Universal Store are racing higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel 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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