Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this banking giant’s shares to $29.50. The broker was pleased with ANZ’s first quarter update, which was far better than it expected thanks to its strong net interest margin. This stronger result has led to the broker making positive revisions to its earnings forecasts, which led to the price target increase. The ANZ share price is trading at $26.50 this afternoon.

Coles Group Ltd (ASX: COL)

Analysts at Morgans have retained their add rating and increased their price target on this supermarket operator’s shares to $19.45. According to the note, Coles delivered a first half result ahead of its expectations. One slight disappointment, though, was management conceding that its growth could decline in the second half and into FY 2022. Nevertheless, the broker sees value in the Coles share price at the current level and holds firm with its add rating. The Coles share price is fetching $16.44 on Friday.

Webjet Limited (ASX: WEB)

A note out of UBS reveals that its analysts have retained their buy rating and lifted their price target on this online travel agent’s shares to $5.75. According to the note, Webjet’s half year results were disappointing. However, management’s commentary supports its view that there is pent-up leisure travel demand. It expects this demand, market share gains, and its cost cutting to support a strong rebound in profitability in FY 2022. The Webjet share price is on course to end the week at $4.95.

More reading

• The Coles (ASX:COL) share price is down 10% in two days: Time to buy?
• Why the ANZ (ASX:ANZ) share price is storming higher today
• Why Bellevue Gold, Coles, NRW, & Perpetual shares are trading lower today
• ASX 200 up 0.2%: ANZ and CSL impress, Fortescue declares huge interim dividend
• ANZ (ASX:ANZ) share price rises, Q1 profit surges 54%

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Investors have been quick to dump their OceanaGold Corp (ASX: OGC) shares today. At the time of writing, the OceanaGold share price has tanked nearly 9% in Friday’s trading session after the company released its full-year report.   

What’s impacting the OceanaGold share price?

Earlier today, the OceanaGold share price fell by more than 11% after the company released its full-year financial report for the year ended 31 December 2020.

For the year, OceanaGold reported a loss of US$150.4 million compared to a US$14.5 million profit achieved in the year prior. A 23.2% fall in revenue of US$500.1 million for the year contributed to the loss.

OceanaGold attributed the fall in revenue to limited sales and lower annual production. Overall, the company fell to a loss after revenue was unable to offset the cost of sales and higher depreciation costs.

For the full year, OceanaGold reported consolidated production of 301,675 ounces of gold. The company managed to sell 310,531 ounces at an all-in sustaining cost (ASIC) of US$1,278 an ounce.

Despite the dour full-year performance, OceanaGold highlighted a strong performance in the fourth quarter. The company reported a 57% increase in production for the fourth quarter of 99,155 gold ounces.

Outlook

OceanaGold is a multinational gold producer. Its portfolio of operating assets include the Didipio mine in the Philipines, Macreas and Waihi operations in New Zealand and the Haile gold mine in the United States.

On the back of a strong fourth quarter, OceanaGold touted an optimistic outlook for 2021, upgrading its full-year gold production guidance. It advised expected production for 2021 is in the range of 340,000 to 380,000 ounces at an ASIC of between US$1,050 to US$1,200 an ounce.

The company attributed the increased guidance to production resuming at the Waihi operation and higher gold sales from the Haile gold mine. OceanaGold’s Martha underground project at Waihi recently entered production, whilst its Golden Point project at the Macraes operation and the Haile gold mine are expected to commence production later this year.

OceanaGold President and CEO Michael Holmes attested to the revised guidance. He stated, “These three projects alone are expected to deliver more than a 75 per cent increase in production relative to 2020 at decreasing costs and increasing margins.”.

Based on the current OceanaGold share price of $2.01, the company commands a market capitalisation of around $155 million.

More reading

• Why CSL, LiveTiles, OceanaGold, & Woodside shares are tumbling lower

Motley Fool contributor Nikhil Gangaram 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 Fatfish Group Ltd (ASX: FFG) share price has continued its positive run and charged higher again on Friday.

At one stage today, the tech investment company’s shares were up as much as 10% to 16 cents.

The Fatfish share price has pulled back since then but remains 3.5% higher at 15 cents currently.

Why is the Fatfish share price charging higher?

Hot on the heels of an announcement relating to the acquisition of assets from iCandy Interactive Ltd (ASX: ICI) by its 50% owned RightBridge subsidiary on Tuesday, this morning Fatfish provided an update on its buy now pay later (BNPL) launch.

And judging by the Fatfish share price reaction, investors appear pleased with what the company had to say.

According to the release, Fatfish’s Singapore-based investee company Smartfunding has launched its BNPL service today as scheduled.

The release explains that its BNPL service has begun to take in applications from users immediately. These applications are being processed automatically via Smartfunding’s proprietary online platform. This platform was developed predominantly by Fatfish’s in-house venture builder team.

The release, littered with spelling mistakes, notes that Singapore is a great place to launch. It explained: “Singapore is indisputably the dorminant (sic) financial hub for the Southeast Asia region. By being regulated and headquarted (sic) out of Singapore, Smartfunding aims to attract businesses not only in Singapore, but as well as from the rest of the Southeast Asian economies.”

The company also points out that that the BNPL model is relatively new in Southeast Asia and has a massive potential market opportunity. The release advises that there is a population of 655 million in the region, with a large proportion of middle-class families.

Watch out for Afterpay

However, Fatfish and Smartfunding won’t have it all their own way. Last year BNPL giant Afterpay Ltd (ASX: APT) made a small acquisition in Singapore with a view of expanding into the South East Asia region in the near future.

But judging by the Fatfish share price, some investors appear to believe there is room for both companies.

Following today’s gain, the Fatfish share price is up 300% since the start of the year.

More reading

• Why the Cirralto (ASX:CRO) share price is in a trading halt
• What’s with the Afterpay (ASX:APT) share price fall today?
• Why the Fatfish (ASX:FFG) share price is diving 21% today
• The Fatfish (ASX:FFG) share price has exploded 155% higher today
• The Cirralto (ASX:CRO) share price is hitting 52-week highs today

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 has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Genex Power Ltd (ASX: GNX) share price is rising today following the release of the company’s Kidston Hydro Project update. During late afternoon trade, the Genex share price is up 2.04% to 25 cents.

Let’s take a look at what the power generation and renewable energy storage company reported.

What did Genex announce?

The Genex share price is on the rise today after the company reported a positive update regarding its flagship 250MW Kidston Pumped Storage Hydro Project.

In its release, Genex advised that development and financing activities associated with the project are well advanced. This follows the final investment decision (FID) delivered by the board in late December 2020.

The company stated that final due diligence is nearing completion, with construction, financing, and operations documentation mostly in agreed form.

However, Genex noted that it has revised its schedule and expects that contractual close will be accomplished in late March. In addition, financial close and the commencement of construction at the site is expected to follow early in the second quarter of 2021.

To accommodate the altered timetable, Genex secured an extension of its energy storage services agreement with EnergyAustralia.

In further news impacting the Genex share price, the company revealed it is currently in discussions with Japan’s Electric Power Development Co. Ltd (J-POWER) about an agreed postponement of its share subscription agreement and technical services agreement.

Words from the CEO

Genex CEO James Harding commented:

We have now reached a critical point where all due diligence has been largely completed and our construction, financing and operational documentation is in substantially agreed form. As such, we are pleased that we have today secured the necessary extension from EnergyAustralia to align with our revised timeline for Contractual Close this quarter, and commencement of construction early next quarter.

We are thankful for the ongoing support of EnergyAustralia, and also our broader stakeholder group including the Northern Australia Infrastructure Facility, Queensland State Government and the Australian Renewable Energy Agency, for their continued support as we work toward financial close.

About the Genex share price

The Genex share price has gained 25% since this time last year. The company’s shares dropped to a low of 8.4 cents in March, and have surged more than 170% since then. 

Based on the current Genex share price, the company has a market capitalisation of around $130 million.

More reading

• Why the Genex (ASX:GNX) share price is up 5% 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 Inghams Group Ltd (ASX: ING) share price is currently up 3.45% today, trading at $3.74 at the time of writing.

The jump follows release of the company’s half-year results for the period ended 26 December 2020 (1H FY21).

Let’s look at the update from the chicken and turkey products provider. 

What did Inghams report?

In today’s 1H FY21 earnings release, Inghams reported a statutory net profit after tax (NPAT) of $35.3 million, up 34.7% compared to the prior corresponding period (pcp). The company’s underlying NPAT was $37.5 million, up 28.4% over the pcp.

Cash flow from operations came in at $181.9 million during the half.

Inghams posted a group core poultry volume growth of 4% on the pcp. The company advised that this reflects a strengthened demand across most channels and the return of overall trading volumes to pre COVID-19 levels.

The board declared an interim dividend of 7.5 cents per share, up 2.7% compared to the pcp. The interim dividend represents a payout ratio of 74.3% of Inghams’ underlying NPAT.

Commenting on the 1H FY21 performance, CEO and Managing Director Jim Leighton said: 

Today’s results are a testament to the great work of our team and their execution of our five-year strategic plan and the resilience in demand for poultry.

These results have been delivered despite the continued impact of COVID-19, ongoing high realised feed prices and the partial closure of Australia’s poultry export channels due to industry Biosecurity issues in Victoria. Our strategy is driving performance and delivering improved returns.

Outlook for Inghams

The company advised it will continue to progress its five-year strategy going forward, however, ongoing volatility remains due to COVID-19 and the potential re-opening of some Australian export markets.

The net impact of lower feed prices is expected to be modest in the second half, and the company also advised it expects the second half of FY21 to experience normal seasonal influences.

Snapshot of the Inghams share price

Ingham has a current market capitalisation of $1.3 billion with 371.5 million shares outstanding.

Over the past 12 months, the Inghams share price has remained relatively flat, gaining a modest 4% on this time last year.

More reading

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• Here are the 10 most shorted shares on the ASX

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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Pursuit Minerals Ltd (ASX: PUR) shares are off to the races today, up more than 35% to 5 cents in afternoon trading. Earlier during intraday trade, the Pursuit Minerals share price rallied by as much as 70% to 6.4 cents before retreating. 

The soaring share price comes following the company’s announcement of promising airborne electromagnet (AEM) data from its Calingiri East exploration licence on the Warrior PGE-Ni-Cu project in Western Australia.

(For the uninitiated, Ni stands for nickel, Cu is copper, while PGE stands for platinum group elements. Those are comprised of palladium (Pd), iridium (Ir), osmium (Os), rhodium (Rh) and ruthenium (Ru).)

What did the company report?

The Pursuite Minerals share price is surging today after the company reported its preliminary AEM survey had detected five strong electromagnetic (EM) conductors. The company believes these have the potential to be due to PGE-Ni-Cu sulphide mineralisation.

These stronger EM conductors, Pursuit Minerals states, are associated with “magnetic anomalies interpreted to be due to mafic or ultramafic intrusive rocks”. These same anomalies are known to host the PGE-Ni-Cu mineralisation at the Chalice Mining Ltd (ASX: CHN) Julimar Project.

Due to the highly prospective nature of the five identified anomalies, the company has significantly extended the survey block. It expects to complete its overall Warrior AEM survey before the end of March. The final data is expected by the middle of April.

Commenting on the results, Pursuit CEO Mark Freeman said:

The PGE-Ni-Cu targets which have been recognised from the preliminary data from the Calingiri East AEM survey block, demonstrate how the application of AEM surveys to PGE-Ni-Cu exploration can rapidly advance a project and generate highly prospective targets for drill testing. To have defined focussed quality targets from the preliminary data is very encouraging and we look forward to identifying further targets from the remainder of the Warrior AEM survey and then drill testing the highest priority targets as soon as practicable.

Once the company has all the data in hand, it intends to start drill testing the high priority in either the second or third quarter of this year.

Pursuit Minerals share price snapshot

Patient shareholders in the junior miner have enjoyed a highly profitable 12 months and a great start to 2021.

Over the past year, the Pursuit Minerals share price is up 400%. That compares to a 3% loss on the All Ordinaries Index (ASX: XAO). With today’s intraday moves taken into account, Pursuit Minerals shares are up 150% year to date.

More reading

• Aquis Entertainment (ASX:AQS) share price boosts 365% in second day of triple-digit gains
• Woodside (ASX:WPL) share price sinks 5% despite new deal
• Amazon buying AMC isn’t as crazy as you think
• Here’s why the Afterpay (ASX:APT) share price is storming 6% higher today
• The PWR (ASX:PWH) share price is on fire today, up 6%. Here’s why

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 Aquis Entertainment Ltd (ASX: AQS) share price has hitched a ride on a rocket today. The resort and gaming company that owns Casino Canberra has experienced a startling 365% share price increase.

Where’s the news?

Long story short, there is none, which is rather peculiar. The company’s shares experienced the same situation yesterday, with abnormally high volumes and a stark price increase. Yesterday’s rise of 216% prompted the ASX to issue the colloquial speeding ticket.

Aquis’ query response provided no additional insight, making this whole situation a bit of a mystery. The company inferred it was as clueless about the reason for the price rise as the rest of us.

With the stratospheric price rise today, it’s safe to say the ASX will be even more intrigued. To put the movement into context, the Aquis share price has nearly increased by 15 times, in the space of 3 days.

Not to mention the off-the-charts volume being experienced by the company. Today’s volume is currently around 12.5 million shares traded. The monthly average for this micro-cap share is 86,000 – mindboggling!

Keeping an eye on the Aquis share price

The ASX will be following along closely after such an abnormal increase in interest in what is a fairly inconspicuous share.

There are many possibilities for such a scenario: potentially a fund is building a position, inside buying (which will need to be disclosed), an upcoming announcement, etc.

For now, we will wait with keen interest on further developments.

At the time of writing, the Aquis share price is swapping hands for 51 cents apiece. 

More reading

• Woodside (ASX:WPL) share price sinks 5% despite new deal
• Amazon buying AMC isn’t as crazy as you think
• Here’s why the Afterpay (ASX:APT) share price is storming 6% higher today
• The PWR (ASX:PWH) share price is on fire today, up 6%. Here’s why
• MyState (ASX:MYS) share price falls despite ‘outstanding first half’

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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The Woodside Petroleum Limited (ASX: WPL) share price is sinking today despite the company announcing a supply agreement for liquefied natural gas (LNG).

At the time of writing, the Woodside share price is down 5.45% to $23.96.

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

LNG supply agreement

Woodside advised it has entered a sale and purchase agreement with RWE Supply & Trading GmbH (RWE). The contract will tap into Woodside’s global energy portfolio to deliver roughly 0.84 tonnes per annum of LNG.

This deal extends the working relationship between both parties, developed through mid-term and spot business deals in Asia-Pacific and the Atlantic basin.

RWE will use the supply of LNG to service the strong demand from its customer base.

The contract will kick off in 2025 and last for a period of 7 years. Woodside said the agreement was not subject to a final investment decision (FID) on any of its projects.

Today’s release also noted that Woodside and RWE signed a memorandum of understanding (MOU) in October last year. The document is based on pursuing mutually beneficial hydrogen-related opportunities.

Hydrogen is expected to become increasingly adopted in future as it is a carbon-neutral fuel. Currently, RWE is advancing the development of about 30 hydrogen projects, mostly situated in Europe.

What did management say?

Commenting on the deal, Woodside executive vice president Meg O’Neill said:

Customers are increasingly seeking to secure new energy supplies in a timeframe which supports the development of our Scarborough offshore gas resource and the expansion of the Pluto facility with the addition of a second LNG production train.

This agreement with RWE is another demonstration of the momentum we are gathering ahead of our targeted FID on Scarborough and Pluto Train 2 in the second half of this year. The SPA also provides the opportunity for Woodside and RWE to explore the potential for carbon-neutral LNG production and trading.

RWE chief commercial officer Andree Stracke added:

RWE is delighted to enter into a longer-term LNG supply agreement with Woodside which further reinforces the strong relationship we have developed together over the last years. The volumes will continue to enable us to deliver effective LNG solutions to our customers and will provide a platform to further advance our existing business in Asia.

Woodside share price performance

The Woodside share price is down 27% over the last 12 months but up almost 7% year-to-date. The company’s shares dived to $14.93 when COVID-19 put the global economy at a standstill. However, its shares have gradually rebounded, especially of late.

Based on the current Woodside share price, the company has a market capitalisation of roughly $23.3 billion.

More reading

• Why CSL, LiveTiles, OceanaGold, & Woodside shares are tumbling lower
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• 5 things to watch on the ASX 200 on Tuesday
• Woodside (ASX:WPL) share price on watch after latest oil market forecasts
• ASX 200 Weekly Wrap: ASX cools on earnings reality check

Motley Fool contributor Aaron Teboneras owns shares of Woodside Petroleum Ltd. 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.

Shares of AMC Entertainment Holdings (NYSE: AMC) moved higher on Thursday morning on chatter that Amazon.com, Inc (NASDAQ: AMZN) could emerge as a potential suitor. Right now, it’s just little more than collective wishful thinking from the AMC bull camp. 

There are no credible media outlets with sources claiming that talks between the two parties are happening. However, there were reports last year that Amazon and AMC were in preliminary negotiations before talks broke down. There were also more substantiated reports of Amazon in the running to acquire the smaller Landmark Theatres in 2018, but that also faded to black. 

There are some very good reasons why this won’t happen. There are some very good reasons why this might. Let’s break down both arguments. 

Amazon shouldn’t buy AMC

Let’s get the bearish argument out of the way first. We can start with the price. AMC had an enterprise value of $10.6 billion in May of last year when the last story was making the rounds. AMC’s fundamentals have only gotten worse, but its enterprise value has ballooned up to $13 billion – and likely closer to $15 billion by the time all of the latest stock sales and debt moves are on the books. If the price was an issue for Amazon before, it would make even less sense to pursue a transaction now.

AMC has lost leverage with Hollywood over the past year. Movie studios are dictating the terms of release windows, and folks haven’t been flocking back to the local multiplex since it reopened late last summer. 

There’s also an argument to be made that Amazon doesn’t need AMC if it wants some skin in this game. It can have AMC rival Regal and its presently shuttered multiplexes for what is likely pennies on the AMC dollar. Amazon considering the purchase of the 53-unit Landmark three years ago suggests that it’s not just gunning for the largest player here. 

There’s also the risk here that Amazon stock takes a hit on an AMC purchase. The market was also confused by the $13.7 billion Whole Foods purchase, but at least that was a top dog in a growing niche. Whole Foods is aspirational. AMC is, well, AMC. 

Amazon should buy AMC

As crazy as it sounds, there are also some reasons why the pairing of Amazon and AMC makes sense. In supporting Amazon’s pursuit of Landmark three years ago, I came up with five reasons why Amazon can win if it was successful in its purchase: 

• Street cred in Hollywood
• Prime Video retention and attraction
• Beating MoviePass and AMC in the subscription game
• A new take on the concessions stand
• Research

There’s still some mining to be done in all five of those areas. Owning the country’s largest multiplex operator would give Amazon a leg up on other streaming platforms when it comes to distribution. Studios would move Amazon higher up on the list of potential partners. If anyone could crack the subscription model beyond AMC Stubs A-List and the now-defunct MoviePass platform, it has to be Amazon. 

When it comes to the concessions counter, it’s hard to think of anyone better than Amazon to disrupt pricing on overpriced snacks but – more importantly – to also flesh out its kiosks with relevant merchandise and likely an upgrade in automated service technology. The final point about research may seem to matter less these days, with audiences unlikely to return to peak levels, but Amazon would be able to use the data it can collect from its moviegoers far more effectively. 

Amazon would also be able to improve in-theatre marketing. It also can reinvent programming with its breadth of multimedia connections. AMC in Amazon’s hands would be misunderstood by Wall Street at first, but you don’t bet against Amazon when it gets its hands on a new toy – or in this case, a 100-year-old toy that just needs to be wound in a new way. 

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

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• Amazon unveils its largest-ever renewable energy project

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis – even one of our own – helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. 

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Rick Munarriz 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 Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. 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 Afterpay Ltd (ASX: APT) share price is on course to end the week on a very positive note.

Earlier today, the payments company’s shares were up as much as 6% to $159.28. That left the Afterpay share price trading within a whisker of its record high of $160.05.

However, if one leading broker is correct, it may not be long until the Afterpay share price smashes through its record high and ascends even higher.

Why is the Afterpay share price racing higher?

Investors have been fighting to get hold of Afterpay shares on Friday after it was the subject of yet another bullish broker note.

According to a note out Morgan Stanley, its analysts have retained their overweight rating and lifted their price target on its shares by 25% to $170.10.

Why is Morgan Stanley bullish on Afterpay?

The broker made the move after looking through recent results and updates from buy now pay later (BNPL) providers.

It notes that Afterpay and other BNPL providers are continuing to grow at rapid rates despite the increase in competition from the likes of PayPal and Shopify.

One thing in particular that attracts Morgan Stanley to Afterpay is its industry-leading repeat purchases metric. It feels this is a big positive and should support strong revenue growth.

In addition to this, it notes that many of its competitors have been increasing their offerings with other product lines. Whereas Afterpay is only in the early stages of doing so. If it succeeds with this, it could bolster its growth further.

Does anyone else think the Afterpay share price can go higher?

Analysts at Bell Potter have a similar view to those at Morgan Stanley.

As I mentioned here recently, it suspects that the upcoming launch of transaction accounts in collaboration with Westpac Banking Corp (ASX: WBC) could be a precursor to the company offering other products. This includes home loans, investment products, and personal loans.

The broker believes that the Afterpay-Westpac collaboration should be worrying Commonwealth Bank of Australia (ASX: CBA).

It explained: “We see this as a step change in APT’s product offering, and as a deliberate strategy for WBC to break CBA’s stranglehold on the millennial banking market. We believe CBA should be worried, and perhaps is, which is seen with comments from their CEO Matt Comyn at the Banking Summit in November last year, who noted Afterpay as a potential threat to the banking sector over time.”

Bell Potter is also tipping the Afterpay share price to climb beyond its record high. It currently has a buy rating and $168.00 price target on its shares.

More reading

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• The Cirralto (ASX:CRO) share price is hitting 52-week highs today

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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