They've sent their covid drug to over 40 countries for trials and are ramping up production. They've also developed a chemical that makes automated coronavirus testing results available in 75 minutes. Still roughly $10 below its 52 week highs after spikes in March and April.
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Once again, a large number of broker notes hit the wires last week. Some of these notes were positive and some were bearish.
Three sell ratings that caught my eye are summarised below. Here’s why top brokers think investors ought to sell these shares next week:
According to a note out of UBS, its analysts have retained their sell rating and lowly price target of $13.00 on this payments company’s shares. The broker has held firm with its rating despite news that Tencent Holdings has snapped up a 5% stake in the buy now pay later provider. While it acknowledges that this validates the Afterpay business model, it feels it is unlikely that Tencent will give Afterpay access to WeChat payments in the China market. In light of this, it sees no reason to change its rating at this point. The Afterpay share price ended the week at $39.88.
A note out of the Macquarie equities desk reveals that its analysts have retained their underperform rating and cut the price target on this energy retailer’s shares to $15.88. According to the note, the broker expects AGL Energy to be hit with a double whammy of weak commodity prices and financial relief for customers. And while it has retained its guidance for FY 2020, the broker expects next year to be much more challenging. The AGL Energy share price last traded at $16.49.
Analysts at Morgans have downgraded this job listings company’s shares to a reduce rating with a $15.55 price target. According to the note, the broker was surprised to see SEEK’s share price rally so hard over the last few weeks considering the tough trading conditions it is facing. It isn’t expecting a rebound in job advertisements to happen quickly and expects it to be a slower recovery than the market appears to believe. The SEEK share price ended the week at $17.41.
Those may be the shares to sell, but here are the dirt cheap shares that analysts think are in the buy zone.
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Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended 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.
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There aren’t many ASX shares that I think every investor should own.
Many businesses aren’t “great” businesses. For plenty of shares it’s hard to be quite certain about their long-term growth prospects. There’s a lot of change and disruption happening out there all the time due to competition and the ongoing coronavirus pandemic.
But there is a small group of shares that I could see weathering most problems, including the current issues. These shares have long-term growth prospects, great management and operate in reliable industries.
I believe that Soul Patts is one of the best shares on the ASX. It’s an investment conglomerate that has been going for over a century. I think it could go for another hundred years because of its style of operations.
It’s invested in a variety of different shares in different industries like TPG Telecom Ltd (ASX: TPM), Brickworks Limited (ASX: BKW), Clover Corporation Limited (ASX: CLV) and Palla Pharma Ltd (ASX: PAL). It also owns plenty of unlisted businesses outright like resources, agriculture and swimming schools.
It has been recently reported that it’s going to start investing in regional data centres alongside a business called Leading Edge Data Centres.
Soul Patts is diversified, it’s long-term focused and it has a growing dividend. There’s a lot to like and it’s one of those ASX share ideas you can own for a very long time.
I believe that Altium is one of the best ASX growth shares around. It’s a world leader in providing electronic PCB software to help engineers design the devices, items and vehicles of the future.
It already has an impressive list of clients using its software including Amazon, Microsoft, Google, Disney, John Deere, Tesla, Space X, NASA and so on.
Over the past several years it has been steadily growing its profit margins thanks to its operating leverage and growing scale. That’s the advantage of a software business – once you’ve developed the software there aren’t many more costs, it mostly falls to the profit lines. That’s a sign of a great ASX share.
Altium has an ambitious goal of 100,000 Altium Designer subscribers and US$500 million revenue by 2025. These are large goals, particularly under the current circumstances. But its cloud offering of Altium 365 could be perfect to convince potential clients to switch over in this period of disruption.
The company’s balance sheet is great because it doesn’t have any debt and its cash balance is steadily growing despite paying (attractive) growing dividends each year. This growing cash pile can be used for bolt-on acquisitions or simply to ride out tougher times like this.
Altium’s share price has performed strongly since 23 March 2020. It’s not cheap, but it could be one of those long-term winners.
I think both of these shares could be some of the best ASX shares out there.
At the current prices I’d go for Soul Patts. Altium may have recovered too strongly (in the short term) given the uncertain economic circumstances. However, with interest rates now at very low levels, both of these shares look very attractive compared to holding cash or even bonds.
The best ASX growth shares are on sale! I think it could be a great time to buy some of them.
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Tristan Harrison owns shares of Altium and 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 Australia owns shares of Altium. 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.
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