The Commonwealth Bank of Australia (ASX: CBA) share price is rapidly rising. It’s currently up around 5% right now. It’s now up around 9% from the start of the week.

It’s not just the CBA share price which is rising rapidly. Today alone the Westpac Banking Corp (ASX: WBC) share price is up 9%, the Australia and New Zealand Banking Group (ASX: ANZ) share price is up 9% and the National Australia Bank Ltd (ASX: NAB) share price is up 8.8%.

This is one of the best days ever for the major ASX banks if they hold onto these gains.

The error with the jobkeeper total cost is good news in the sense that far less people are requiring support than previously expected. So perhaps that means the economy won’t be hit as hard as previously expected?

With a share price fall from around $90, investors were obviously expecting a really painful downturn for CBA. But clearly the news is getting better with restrictions lifting and people getting out and about again.

Is it time to buy the CBA share price?

So far CBA has provisioned $1.5 billion for COVID-19 impacts. Not much in the grand scheme of CBA’s overall loan book. If that’s all the damage is going to be then the CBA share price could seem pretty cheap.

But I don’t think it’s all rosy just yet. In Australia there are question marks for at least the tourism and construction sectors.

The US and China could each individually cause major problems for the entire world if there’s a new trade war. The coronavirus continues to spread at an alarming rate in the US. And who knows what the US election will throw up?

If you’ve been waiting to buy CBA shares then I think now could be the time to do it – everything is looking like it’s on an upward trend. But I’m not sure the dividend will remain as high. Profits could fall if the net interest margin (NIM) declines.

More reading

• ASX 200 up 0.1%: Big four banks rocket, Afterpay sinks lower
• Why the NAB share price is surging higher today
• Why ALS, Metcash, NAB, & Pointsbet shares are racing higher
• How much money should you have in your emergency fund going forwards?
• Where to invest $5,000 in ASX 200 shares today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Soaring share price: Is CBA a buy? appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3c6ZIR5

The Aussie dollar hit a new 8-week high overnight against the United States dollar, climbing as high as 66.75 US cents. The last time the Australian currency traded at these levels was back in early March.

It follows the massive dollar sell-off in late March when the ‘flight to safety’ amid the stock market crash pushed our dollar under 57 US cents – a multi-decade low. The Aussie is seen as a ‘risky’ currency partly due to our economic ties to China and, hence, is often sold-off with ructions in the global economy. Thus, the recent rise reflects a growing appetite for risk against safety in global markets.

So, apart from restoring some national pride, what does this move mean for ASX shares?

What a high Aussie dollar means for ASX shares

A higher exchange rate typically means imports become cheaper while exports become more expensive. That’s because it takes less Aussie dollars to buy a good or service denominated in foreign currencies with a higher exchange rate. Vice-versa for selling goods or services.

Therefore, a higher currency benefits companies importing products into Australia to sell, disadvantaging companies selling goods or services beyond our shores.

Thus, I’m looking at retailers as the biggest beneficiaries of a higher Aussie dollar. Not so much companies like Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL), which sell mostly Australian products as their benefit is far more muted.

No, it’s companies like JB Hi-Fi Limited (ASX: JBH) and Harvey Norman Holdings Limited (ASX: HVN) who stand to benefit the most, in my view. These companies sell electronics, TVs, white goods and computers, most coming from markets like the US, Japan, and China. For JB and Harvey Norman, importing these goods will now be cheaper. This price saving could then be banked for extra profits or passed onto consumers at no cost to the company. Cheap TVs all round!

Conversely, the biggest losers from a higher Aussie dollar are exporters like mining companies. Most commodities (like iron ore or gold) are priced in US dollars, so miners like BHP Group Ltd (ASX: BHP) or Newcrest Mining Limited (ASX: NCM) receive US dollars. These are then domiciled back into Aussie dollars and with a higher exchange rate, they’ll get less Aussie dollars back for each US dollar received.

Foolish takeaway

Currencies change all the time and have cycles of their own. Therefore, the Aussie dollar isn’t something you should lose too much sleep over, in my view. Nonetheless, its always good to know exactly what’s happening in the economy and your ASX share portfolio, of which exchange rates play a meaningful part.

More reading

• Why Afterpay, CSL, Fortescue, & Newcrest shares are dropping lower
• 3 easy rules for building a massive ASX share portfolio
• Where to invest $5,000 in ASX 200 shares today
• Where will the Coles share price be in 1 year?
• 3 exciting ASX growth shares to buy in June

Motley Fool contributor Sebastian Bowen owns shares of Newcrest Mining Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Woolworths Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post The Aussie dollar just hit an 8-week high. Here’s how it affects your ASX shares appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2X3rVUn

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

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

City Chic Collective Ltd (ASX: CCX)

According to a note out of Goldman Sachs, its analysts have retained the buy rating and $3.25 price target on this fashion clothing retailer’s shares. The broker has lifted its forecasts for City Chic in response to the earlier than anticipated reopening of its retail stores. The broker believes the company will keep its dividend suspended until FY 2022 and focus on reinvesting in medium-term growth options both at home at overseas. It expects this to lead to a 20.1% compound annual growth rate for earnings per share between FY 2019 and FY 2022. While not my favourite option in the retail sector, I think it could be worth a closer look.

Metcash Limited (ASX: MTS)

Analysts at UBS have upgraded this wholesale distributor’s shares to a buy rating with a $2.85 price target. According to the note, the broker believes the underperformance of its share price since its capital raising has created a buying opportunity. UBS likes Metcash due to the strength of its grocery business and the improving outlook for its hardware business. I think UBS makes some good points and Metcash could be a decent option for investors.

Telstra Corporation Ltd (ASX: TLS)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating but trimmed the price target on this telco giant’s shares slightly to $4.10. Although it suspects the company’s earnings will take a bit of a hit from lower roaming and enterprise revenues, it believes the market is being too harsh. As a result, it sees Telstra’s share price weakness as a buying opportunity for investors. I agree with this view and would be a buyer of Telstra’s shares today.

More reading

• Why ALS, Metcash, NAB, & Pointsbet shares are racing higher
• 3 easy rules for building a massive ASX share portfolio
• Tax planning for ASX 200 investors
• Latest spending data could drive the ASX retail sector higher
• 3 quality ASX 200 blue chip shares to buy right now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Top brokers name 3 ASX shares to buy right now appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2TI7KcH

The fallout from Brazil’s COVID-19 catastrophe is reaching the shores of the ASX!

Laboratory testing services group ALS Ltd (ASX: ALQ) took a $50 million hit to its bottom line due to the growing crisis in the region when it unveiled its full year profit.

Brazil’s economy is taking a big beating and the worst is yet to come. The number of coronavirus deaths in Brazil is projected to surge to nearly 126,000 by August, according to the Institute for Health Metrics and Evaluation at the University of Washington in Seattle.

Grim forecast reported in the Australian Financial Review is 42% higher than the IHME’s first projection released on May 12.

New COVID-19 epicentre

Brazil is fast becoming the epicentre for the COVID-19 pandemic as its defiant president Jair Bolsonaro refuses to implement any strict measures used in other countries to curb the outbreak.

This, combined with the country’s poor health care system, spells bad news for not only Brazil but its neighbours.

The impact is felt at ALS where its full year statutory profit slumped by $24.8 million to $127.8 million. Management also sliced its final dividend by nearly half to 6.1 cents from 11.5 cents a share.

ALS jumps on profit result

But the news didn’t bother investors. The ALS share price jumped 2.8% during lunch time trade to $7.25 when the S&P/ASX 200 Index (Index:^AXJO) is struggling at breakeven.

This is because underlying net profit (which ignores one-off issues) increased 4.3% to $188.8 million as revenue improved 10% to $1.83 billion in FY20.

That’s in-line with its guidance range of $185 million to $195 million. In this climate, hitting guidance is an achievement in itself!

Growth across divisions

Despite the disruption to its Latin American operations and the drop in demand from oil and gas customers, its Life Sciences, Industrial and Commodities divisions posted growth, even on an organic basis.

Management also boasted about its strong balance sheet with around $650 million of liquidity available. This includes an extra $200 million of debt it recently secured with its banks.

ALS said it’s shown resilience during the COVID-19 pandemic so far due to a diverse portfolio of businesses and geographies, with many of its services deemed as “essential businesses”.

ALS isn’t the only ASX company exposed to Brazil and Latin America. Some of our miners like Rio Tinto Limited (ASX: RIO) and South32 Ltd (ASX: S32) also have operations in the region.

More reading

• ASX 200 up 0.1%: Big four banks rocket, Afterpay sinks lower
• Why the NAB share price is surging higher today
• Why ALS, Metcash, NAB, & Pointsbet shares are racing higher
• Where I would put $10,000 into ASX 200 shares today
• 3 easy rules for building a massive ASX share portfolio

Motley Fool contributor Brendon Lau owns shares of Rio Tinto Ltd and South32 Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post The ASX 200 stock hit by the Brazilian COVID-19 wave appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/36xXVmJ

The National Tyre & Wheel Ltd (ASX: NTD) share price is gaining traction today on the back of an FY20 trading update and related full-year guidance.

At the time of writing, National Tyre & Wheel shares have raced 26.79% higher so far today to 35.5 cents per share. This takes its current market capitalisation to around $36 million, so we’re very much at the smaller end of the ASX spectrum here.

About National Tyre & Wheel

As its name suggests, the company is in the business of tyres and wheels. It supplies the latest generation of tyres and wheels to consumers in Australia, New Zealand and, to a lesser extent, South Africa.

The company has a number of different brands under its banner to service the car, SUV, 4WD, light commercial and caravan segments. These brands include Exclusive Tyre Distributors, Cooper Tires, Mickey Thompson, and Dynamic Wheel Co.

Although National Tyre & Wheel’s history dates back to 1989, it is relatively new to the ASX scene after listing in December 2017.

Why the National Tyre & Wheel share price is gaining traction

This morning, the company released an FY20 trading update, providing details of recent trading conditions along with forecasts for the full-year.

According to the announcement, trading results in April and May have exceeded expectations and volatility has subsided to the extent that shorter predictions can now be made with reasonable certainty.

As a result, the company provided guidance for FY20 operating earnings before interest, tax, depreciation and amortisation (EBITDA) of between $8.9 million and $9.3 million. Additionally, the first quarter of FY21 is expected to be consistent with this trajectory.

Some of its subsidiaries have received JobKeeper support, while others remain above the eligibility threshold. JobKeeper payments received in the fourth quarter of FY20 will amount to $0.96 million, representing 25% of people costs in that period.

National Tyre & Wheel believes its experience in Australia and New Zealand over the past 2 months is generally consistent with the overall performance of the tyre and wheel industries. According to the company, these industries are proving to be resilient in response to a difficult economic environment.

As for Top Draw Tyres, National Tyre & Wheel’s 50%-owned South African subsidiary, trading remains limited by government-imposed restrictions. The company also warned of a potential impairment charge of up to $1.8 million relating to the value of intangible assets.

Importantly, National Tyre & Wheel stated it has no present need to increase non-trading debt or raise capital. As of 30 April, the company had cash on hand of $18.4 million, placing it in a net cash position of $6 million.

In addition, National Tyre & Wheel has reinstated its dividend policy after temporarily suspending it on 3 April. The board will now apply the policy based on trading results over the coming months.

More reading

• The ASX 200 stock hit by the Brazilian COVID-19 wave
• ASX 200 up 0.1%: Big four banks rocket, Afterpay sinks lower
• Is Wesfarmers in the buy zone?
• Why the NAB share price is surging higher today
• 2 ASX growth stocks that could become 10-baggers in the next decade

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post National Tyre & Wheel share price races 27% higher on upbeat FY20 trading update appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2TEnBc3

It has been a very eventful day for the S&P/ASX 200 Index (ASX: XJO). At lunch the benchmark index has recovered from a sharp decline in early trade to be up 0.1% to 5,784.3 points.

Here’s what has been happening on the market today:

Big four banks rocket higher.

The performance of the big four banks on Wednesday has been the ASX 200’s saving grace. The banking sector has been storming higher for a third day in a row, which has offset heavy declines in other parts of the market. Investors appear to believe the banks were oversold over the last three months and have been piling in. The best performer in the group has been the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price with a stunning 8.5% gain.

Afterpay sinks.

It looks as though investors have decided to take profit on a few growth shares today. One of the most notable examples of this is the Afterpay Ltd (ASX: APT) share price which is down 5.5%. Prior to today the payments company’s shares were up over 400% from their March lows. This impressive share price performance has been driven largely by its strong sales and customer growth and the arrival of Tencent Holdings as a substantial shareholder.

ALS result impresses.

The ALS Ltd (ASX: ALQ) share price is pushing higher on Wednesday after the release of a solid full year result. For the 12 months ended 31 March, the testing services company reported a 10% increase in revenue from continuing operations to $1,831.9 million and a 4.3% lift in underlying net profit to $188.8 million. ALS’ profits were in line with management’s guidance. Pleasingly for shareholders, the ALS board had enough confidence in its outlook and balance sheet to declare a final dividend. It will be paying shareholders a partially franked 6.1 cents per share.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Wednesday has been the Southern Cross Media Group Ltd (ASX: SXL) share price with a 31% gain. This was despite there being no news out of the beaten down media company. The worst performer has been the Saracen Mineral Holdings Limited (ASX: SAR) share price with an 8.5% decline after a decent pullback in the gold price.

More reading

• The ASX 200 stock hit by the Brazilian COVID-19 wave
• Why the NAB share price is surging higher today
• Why Afterpay, CSL, Fortescue, & Newcrest shares are dropping lower
• Why ALS, Metcash, NAB, & Pointsbet shares are racing higher
• Where I would put $10,000 into ASX 200 shares 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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 up 0.1%: Big four banks rocket, Afterpay sinks lower appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2M35kBi

Wesfarmers Ltd (ASX: WES) recently consolidated part of its Target store network and made changes to its online strategy.

Is Wesfarmers in the buy zone in light of these recent changes?

Overhaul of Target store network

Last week, Wesfarmers announced it will implement a strategy to reduce its underperforming Target store network, including converting some larger Target stores into Kmart stores. Some of the Country Target stores will also be converted to either smaller Kmart stores or closed completely.

Wesfarmers’ aim is to end up with a stronger and more sustainable chain of retail businesses. The group’s network of Target stores has underperformed for quite some time despite implementing strategies to improve performance. The sharp downturn in foot traffic during the coronavirus crisis appears to have triggered Wesfarmers to take this latest action.

Enhancement of online retail strategy

Wesfarmers’ online offerings have seen strong growth over the past year or two, in particular, increased demand during the coronavirus crisis. This includes its online Target and Kmart offerings, as well as its pure online offering, Catch.

In a market update at the end of April, Wesfarmers revealed its retail businesses are expanding and upgrading their online offerings to support an increase in demand for product driven by the pandemic. Initiatives recently deployed include a ‘drive and collect’ service at its Bunnings and Officeworks stores nationwide.

Wesfarmers provided a further update on its evolving online strategy through a release last week, revealing that its Target network overhaul will be complemented by increased investment in its online capabilities.

Foolish takeaway

I am attracted to Wesfarmers as a potential company to buy during the coronavirus crisis due to its high level of diversification. Wesfarmers has operations in general retail segments of home improvement, merchandise and office supplies and other segments including industrial.

Wesfarmers has a track record of performing relatively well during challenging economic times such as the one we are in and the group’s strong balance sheet positions it well to ride out the current crisis.

I believe this latest move to consolidate its Kmart and Target portfolio and enhance its online offering should further strengthen an already solid business.

On current prices, Wesfarmers also pays an attractive trailing fully franked dividend yield of 3.87%.

More reading

• 3 easy rules for building a massive ASX share portfolio
• Where will the Coles share price be in 1 year?
• 3 top ASX dividend shares I would buy for income right now
• 3 top ASX dividend shares to buy in June
• Leading brokers name 3 ASX 200 shares to sell today

Motley Fool contributor Phil Harpur has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Is Wesfarmers in the buy zone? appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3d6rheA

The big four ASX banks are surging higher this morning with the National Australia Bank Ltd. (ASX: NAB) share price leading the charge after it boosted its capital raise limits due to strong demand.

The NAB share price jumped 5.3% to a more than two month high of $17.52 at the time of writing.

The Westpac Banking Corp (ASX: WBC) share price and Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price aren’t far behind with a gain of around 5% each.

Commonwealth Bank of Australia (ASX: CBA) is the laggard with a 2.4% rise to $62.79, although that is still well ahead of the S&P/ASX 200 Index (Index:^AXJO), which slipped 0.4% into the red.

More demand than supply

Optimism towards NAB was likely triggered by its share purchase plan (SPP) update. The bank more than doubled its intended takings from the SPP after receiving better than expected demand from retail shareholders.

NAB said it will now accept $1.25 billion in new capital from the SPP compared to its original target of $500 million.

It could have accepted even more as the bank will be scaling back valid applications from shareholders. Its promising to allocate a minimum of 176 SPP shares, which are priced at $14.15 each, but said around 98% of shareholders will at least receive their pro-rata allocation.

Extra cash means extra options

The SPP amount is on top of the $3 billion it raised from institutional investors through a placement, and I think this is a good outcome for NAB.

The extra cash injection will go a long way to remove any worries about its capital adequacy. NAB is the only one of the big four that undertook a cap raise although its bad debt provisioning is the smallest at around $800 million.

Analysts believe that is too little when CBA and Westpac have set aside around $1.5 billion each to buffer against loan defaults in the wake of the COVID-19 pandemic.

Money buys time

NAB will likely have to increase its provisioning and the extra cash will come in useful. The extra ammunition will also give its new boss Ross McEwan extra flexibility for the scandal-prone banks to play catch up.

Further, the scale-back of the SPP will likely leave pent-up demand for its stock on the secondary market (i.e. shares trading on the ASX). This means investors are unlikely to be able to buy shares in the bank as cheaply as the $14.15 offer price – at least not for the foreseeable future.

Foolish takeaway on ASX banks

The banks aren’t out of the woods yet and are still trading well below where they were earlier in the year. But the worst may be over unless we get a big second wave of coronavirus infection or some other black swan event.

This bodes well for the broader market and the economy as both can’t outperform if the banking sector is sick.

As my wise former colleague at the Australian Financial Review, Andrew Cornell, once told me during a discussion about super profits – the only thing worse than a profitable bank is an unprofitable one!

More reading

• Why ALS, Metcash, NAB, & Pointsbet shares are racing higher
• Where I would put $10,000 into ASX 200 shares today
• How much money should you have in your emergency fund going forwards?
• 3 easy rules for building a massive ASX share portfolio
• Where to invest $5,000 in ASX 200 shares today

Motley Fool contributor Brendon Lau owns shares of Australia & New Zealand Banking Group Limited, Commonwealth Bank of Australia, National Australia Bank Limited, and Westpac Banking. Connect with me on Twitter @brenlau.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the NAB share price is surging higher today appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2M6ZSgt

Over the past decade we have seen a large number of ASX growth stocks reach 10-bagger status. As the name suggests, a 10-bagger share returns 10 times its initial investment. Some of these have performed even more spectacularly, returning over 100 times their initial investment. Hindsight is a wonderful thing, but what about the next 10 years?

2 ASX growth stocks with 10-bagger potential

LiveHire Ltd (ASX: LVH)

Many of the ASX 10-bagger shares of the past decade came from companies that either worked in, worked with or adapted electronic or internet technology. Altium Limited (ASX: ALU), for example, makes software to design printed circuit boards. Jumbo Interactive Ltd (ASX: JIN) took lottery sales online and then licensed the product to other lottery sales organisations.

When it comes to next 10 years, I think LiveHire is going to be a top ASX growth stock. In my view its share price is a strong contender to grow by at least 10 times. At the time of writing, LiveHire’s shares are sitting at $0.24 each and the company has a market cap of just $71 million. I have no problem seeing this company grow to a market cap of $710 million.

In a crowded job market, the company has found a way to differentiate itself. It holds career CV’s just like Microsoft’s LinkedIn and hosts job ads like SEEK Limited (ASX: SEK). But it also acts as a recruitment platform for many top tier organisations. Its share price jumped up yesterday on news that it had secured a contract with the Victorian government. Furthermore, the company had already secured a similar agreement with the Queensland government.

Bellevue Gold Ltd (ASX: BGL)

I think one of this year’s great, ASX growth stock no-brainers is Bellevue Gold. I believe this company’s shares definitely have the potential to achieve 10-bagger status over the coming decade. A standout ASX 10-bagger share over the past 10 years was Northern Star Resources Ltd (ASX: NST). Northern Star paid back over 470 times the initial investment. This turned an initial investment of $10,000 back in January 2010 into over $4.7 million today. 

Bellevue is a gold exploration company with one of the highest grade gold projects on the planet. The mine is a proven, gold-rich resource that has been mined for over 100 years. Using modern exploration techniques and technology, Bellevue has uncovered an additional 2.2 million oz gold resource. It is also at far shallower depths than other West Australian underground mines. 

Furthermore, Bellevue has managed to secure several operational leaders from Northern Star. These are people who have done this before and been on board during the Northern Star share price’s meteoric rise. I feel these factors, along with the company’s continued growth using existing infrastructure, will all stack up to deliver exceptional share price growth over the coming decade. 

Foolish takeaway

While there are many ASX growth stocks with the potential to become 10-bagger shares over the next decade, LiveHire and Bellevue have stood out to me as the most obvious over the past 6 months. Both have very competent and proven management teams. They each have competitive advantages and differentiate themselves well from other market players. Moreover, both have steadily increased their share price over the year to date. 

More reading

• Where I would put $10,000 into ASX 200 shares today
• 3 easy rules for building a massive ASX share portfolio
• Tax planning for ASX 200 investors
• Why these 3 ASX 200 tech shares offer great value
• How to pick better shares and earn better returns

Daryl Mather 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 Jumbo Interactive Limited. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Jumbo Interactive Limited and SEEK Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 2 ASX growth stocks that could become 10-baggers in the next decade appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/36wwnyh