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The Bubs Australia Ltd (ASX: BUB) share price is up 7.7% after the infant formula business announced its first deliveries to the United States.

There is currently an infant formula shortage in the US, so the government is taking action to reduce the problem.

Bubs joins US ‘Operation Fly Formula‘

In an announcement today, Bubs revealed the US government has sourced the first two flights to transport six different Bubs infant formula products to the US.

The US Department of Agriculture and the Department of Health and Human Services is authorised to use Department of Defense contracted commercial aircraft to deliver infant formula that meets US health and safety standards.

Since the initial announcement by the US Food and Drug Administration (FDA), Bubs has been working closely with the US government and key stakeholders to get their products to US families as quickly as possible.

Bubs will be distributing 1.25 million tins of Bubs infant formula products to leading US retailers. A series of shipments will go to the US in the coming weeks.

The first flights are scheduled to depart Melbourne Tullamarine Airport on 9 June and 11 June.

Bubs expects its products to be on the shelves of major retailers soon after arrival. Bubs will work with its retail partners to ensure products are sent to states with the greatest shortages.

CEO comments

The Bubs CEO Kristy Carr said:

We would like to express our deepest gratitude to the Biden Administration for extending Operation Fly Formula to enable Bubs to assist American families as quickly as possible. Our team members are working around the clock in conjunction with the White House to resolve logistical challenges so that we can have Bubs Infant Formula products on shelf in major American retailers as quickly as possible.

Carr also participated in a ‘roundtable’ discussion convened by President Biden and senior officials. Bubs was the only manufacturer from the Asia Pacific region present.

What comes next?

Bubs is finalising subsequent flights and logistics now. The Biden Administration will announce details of additional deliveries in the coming days.

The products will be distributed widely throughout the US across a large number of major retailers.

Bubs share price snapshot

The Bubs share price shot to a 52-week high of 84 cents after the announcement of Operation Fly Formula on Monday. It has since drifted back to 64 cents today. Even so, it’s still up 38% this week.

The post Bubs share price jumps on first US shipments appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BUBS AUST FPO. 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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Could the Qantas Airways Limited (ASX: QAN) share price soon return to pre-COVID levels? Analysts at UBS reportedly think so.

They’re said to have tipped Qantas’ stock to lift to its highest point since late 2019 as the airline’s cost-saving and growth activities start to take effect.

At the time of writing, the Qantas share price is trading at $5.43, down 1.8%.

Let’s take a look at what’s got the top broker excited about Qantas.

Qantas’ earnings tipped to reach pre-COVID levels by FY24

The Qantas share price has lifted around 135% from its lowest point of the pandemic and, according to UBS, it could have another 22% left in it.

The broker believes Qantas’ earnings could recover to pre-COVID levels by financial year 2024 and its stock will follow suit, reports The Australian.

UBS equity analyst Andre Fromyhr was quoted by the publication as telling clients:

Buying into Qantas’ growth initiatives post-recovery is a different proposition to investing in [Qantas] for the recovery itself – however we think there’s enough valuation support without assuming much from such initiatives.

The [free cash flow] outlook is also positive but less clear, partly due to use of latent COVID credits, but also because Qantas is already investing in growth.

Qantas has reinstated its capital expenditure guidance for financial year 2023. The airline predicts it will come in at between $2.3 billion and $2.4 billion.

The airline is also working on ‘Project Sunrise’ which should see it launching 12 new Airbus A350s from financial year 2025.

Finally, Qantas has placed a $4.75 per share all scrip bid for Alliance Aviation Services Ltd (ASX: AQZ). The deal is yet to receive shareholder or regulatory approval.

Meanwhile, the airline has taken on a 51% holding in online travel business TripADeal for an undisclosed sum.

On the back of Qantas’ busy period, UBS has upped its price target for the company’s shares. It now expects the stock to trade at $6.75 – representing a 22% premium on its previous close.

Qantas share price snapshot

The Qantas share price has been outperforming the S&P/ASX 200 Index (ASX: XJO) lately.

It has gained 7% since the start of 2022 while the index has slumped nearly 5%.

The airline’s shares are also trading 15% higher than they were this time last year. Meanwhile, the ASX 200 has traded flat over the last 12 months.

Though, the stock is still around 15% lower than it was before the pandemic took hold.

The post Top broker tips 20% upside for Qantas share price appeared first on The Motley Fool Australia.

More reading

• What’s happening to the Qantas share price this week?
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• Guess which ASX 200 shares UBS just added to its ‘best ideas’ list
• Qantas share price on watch after massive acquisition
• 2 ASX blue-chip shares this top fund manager thinks are good value

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Alliance Aviation Services Ltd. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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

What happened

Shares of electric-vehicle (EV) maker Tesla (NASDAQ: TSLA) tumbled for a second straight day on Wednesday, falling as much as 2.4% through 10:35 a.m. ET before recovering some of their losses later in the morning. 

Elon Musk’s comments have a lot to do with that.

So what

On the one hand, as The Fly reports, Goldman Sachs lowered its target on Tesla shares from $1,200 to $1,000. But $1,000 is about 33% higher than where Tesla stock trades today, and Goldman wasn’t specifically targeting Tesla when it made this cut. Rather, the lowered price target was part of a broad reduction in Goldman’s estimates across the U.S. auto and industrial technology space, to account for continuing supply chain snarls and expected lower production.  

But the bigger Tesla story today comes straight from the CEO himself. There was a leak of an internal email from Musk to his executive staff (i.e., office workers, not factory employees) advising them that the company is ending work-from-home permission and requiring its employees to either return to the office or “pretend to work somewhere else.”

They should pretend to work somewhere else

— Elon Musk (@elonmusk) June 1, 2022

https://platform.twitter.com/widgets.js

Now what

The result was predictable, but there are actually two ways of looking at this new Tesla policy. From one perspective (the one that investors seem to be taking today), the company is risking a brain drain by telling some of its most skilled staff to either resume commuting to work or else hit the road. In a seller’s market like the present labor market in the U.S., this ultimatum is probably not going to be popular with work-from-home staff who have gotten used to not having to commute to the office over the past two pandemic years. 

If remote work is no longer acceptable to Musk, then working for Tesla might no longer be acceptable to many key Tesla employees. They could instead defect to Rivian, Ford, Apple, or any of a number of other Tesla competitors, to the detriment of its business.

But here’s the contrary theory: It’s not fair that within a single company, one class of employees (factory workers) is required to come into work while another (the executive staff) isn’t.

In the short term, Musk’s ultimatum could cause unrest — maybe even revolt — among his white collar staff. But by eliminating de facto favoritism, Tesla may actually end up increasing esprit de corps and strengthening the entire company as a result. One can hope, at least. 

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

The post Why Tesla stock is still falling today appeared first on The Motley Fool Australia.

More reading

• Why the Tesla share price stalled on Tuesday
• If you’d bought $5,000 of Tesla shares 5 years ago, woohoo! Here’s how much you’d have now
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• Why Tesla stock raced higher today
• Why Tesla stock turned south today

Rich Smith has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple, Goldman Sachs, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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Yesterday was one of the worst days on record for Australian lithium shares.

The likes of Allkem Ltd (ASX: AKE) and Pilbara Minerals Ltd (ASX: PLS) made double-digit declines, with the latter falling over 20%.

Why were lithium shares sold off?

While there were a number of catalysts for these declines, news that Goldman Sachs was bearish on lithium prices was suggested to be the main reason for the weakness.

However, this didn’t make a lot of sense. As I’ve mentioned before, Goldman’s belief that lithium prices have peaked and will fall materially in the coming years is not new.

At the start of last month, I outlined Goldman’s forecasts for lithium prices through to 2025. These forecasts can be found here.

In addition, the most recent note from Goldman Sachs in relation to battery materials was actually released on Monday. Which means the selloff should really have occurred on Monday or Tuesday, not on Wednesday.

So what was the real cause?

The real reason for the weakness in lithium shares such as Liontown Resources Limited (ASX: LTR) and Sayona Mining Ltd (ASX: SYA) appears to be news out of China.

According to Chinese media organisations, Warren Buffett-backed electric vehicle company BYD is planning to buy six lithium mines in Africa.

In total, BYD is understood to be expecting these mines to produce approximately 1 million tonnes of lithium carbonate each year. That would be enough to build at least 27.78 million electric vehicles, which covers the automaker’s expected demand for the next decade.

So, as well as increasing supply, it would also take a major buyer of lithium out of the chain. This could have a big impact on the demand side and therefore lithium prices in the coming years. It may also make Goldman’s bearish view more accurate than some investors would like to believe.

The post Is this the real reason ASX lithium shares cratered on Wednesday? appeared first on The Motley Fool Australia.

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• Pilbara Minerals share price higher on CEO appointment
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Motley Fool contributor James Mickleboro has positions in Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Wednesday night to discuss Australia’s strong GDP numbers, the crash in ASX lithium stocks, and a big price fall for Origin Energy.

The post A crash for ASX lithium stocks, and GDP keeps growing. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The Pro Medicus Limited (ASX: PME) share price is falling on Thursday.

In morning trade, the health imaging technology company’s shares are down over 1% to $40.78.

This appears to have been driven by broad weakness in the tech sector, which has offset some positive news.

Pro Medicus share price falls despite contract win

The Pro Medicus share price is falling today despite the announcement of another major contract win.

According to the release, Pro Medicus has signed a $28 million, seven-year contract with Allina Health.

Allina Health is a not-for-profit health care system based in Minneapolis, Minnesota. It has 28,000 employees and 6,000 associated and employed physicians and operates 11 hospitals and more than 90 clinics.

The release explains that the contract is based on a transactional licensing model and will see the company’s Visage 7 Enterprise Imaging Platform and Visage 7 Workflow module implemented throughout Allina Health. This will provide it with a unified diagnostic imaging platform across the network.

Pro Medicus will now commence with the planning of the rollout, with an initial go-live date targeted for the second half of the calendar year.

‘Strong momentum’

Pro Medicus’ CEO, Dr Sam Hupert, was pleased with the news and notes that its strong momentum is continuing to build in the integrated delivery network space. He said:

This is our fifth major contract in the North American integrated delivery network (IDN) space in 18 months, underpinning the strong momentum we continue to build in this important segment of the market.

IDN’s are growing because of the trend towards value-based medicine coupled with industry consolidation. Our Visage 7 platform is ideally suited to meet their needs with its unparalleled speed, scalability, and proven cloud capability.

The good news for shareholders is that this may not be the last contract win. Dr Hupert commented:

Our pipeline remains strong and spans a growing number of market segments, including academic institutions, the IDN space, independent radiology groups, and the for-profit sector. Our proven cloud-engineered technology provides us with a very significant strategic advantage with the last six of our major contracts being cloud-based — a trend we think will continue.

The post Pro Medicus share price falls despite major contract win appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. 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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The Pilbara Minerals Ltd (ASX: PLS) share price is rising on Thursday morning.

In morning trade, the lithium miner’s shares are up 3% to $2.38.

Pilbara Minerals share price higher on CEO appointment

The Pilbara Minerals share price is rising on Thursday after the company announced the appointment of its new CEO.

According to the release, the company has appointed Dale Henderson as its new managing director and CEO. He will replace the long-serving Ken Brinsden, who will be stepping down from the role on 30 July.

Mr Henderson is currently Pilbara Minerals’ chief operating officer and has been with the company since 2017. Prior to that, he worked in senior roles for companies including Fortescue Metals Group Limited (ASX: FMG), Chevron, and Occidental Petroleum.

The release explains that he was selected from a field of outstanding candidates because of his strong lithium industry experience, outstanding leadership skills, strong cultural values, and work ethic.

Mr Henderson’s clear understanding of the future of the lithium raw materials industry and Pilbara Minerals’ vision to become a major long-term player in the rapidly growing lithium industry supply chain also played a role in his selection.

Management commentary

Pilbara Minerals’ Chairman, Tony Kiernan, said he is delighted with the appointment and believes the company is in safe hands. He commented:

We are delighted that Dale has accepted the Board’s offer to become Pilbara Minerals’ next Managing Director and CEO, following an exhaustive international search process that yielded some outstanding candidates. Dale is an exceptional, high-calibre individual who has already made his mark at Pilbara Minerals over the past five years as COO.

I have every confidence that Dale is going to be an exceptional Managing Director and CEO. He is a very strong, capable and inclusive leader and has the industry experience, leadership skills and cultural values to take Pilbara Minerals forward into its next exciting growth chapter.

The post Pilbara Minerals share price higher on CEO appointment appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
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• Why are ASX lithium shares tanking on Wednesday?
• ASX 200 midday update: NAB completes acquisition, lithium miners sink, Origin tumbles

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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Shares of Northern Star Resources Ltd (ASX: NST) have lagged key benchmarks in 2022 and now trade 7% down this year to date.

After nudging past 52-week highs in April, traders unloaded shares from a peak of $11.48 with prices levelling to $8.50 by 12 May. They currently fetch $8.72 apiece.

Similarly, gold and gold bullion has endured a similar path after blowing off highs of more than US$2,052 per troy ounce in March.

Sentiment tilted bullish with Northern Star

Coverage of Northern Star from analysts is tilted to the bulls according to Bloomberg data. However, analysts at Argonaut Securities urge clients to sell their position, valuing the company at $7.60 per share.

The consensus price target is $12.59 from this list, with Canaccord Genuity holding the highest valuation at $15.15 per share.

In its assessment, the team at JP Morgan was constructive on the company’s balance sheet and noted it “is generating solid FCF at current gold prices”.

“The company is focused on three production hubs – Kalgoorlie and Yandal in Australia, and Pogo in Alaska,” the JP Morgan team wrote.

“The company has a track record of project delivery and strong production growth. We have an Overweight rating, based on valuation [$11 per share].”

Meanwhile, gold appears to remain under pressure amid a strengthening US Dollar and the curling up of US Treasury yields.

Moreover, the outlook for interest rates and the dollar still present major headwinds for gold bullion, per Trading Economics, “as investors continue to speculate on how aggressive monetary tightening will need to be to fight inflation.”

The dispersion in performance from key assets traditionally viewed to fight inflation in investor portfolios are plotted below. Curiously, gold and gold miners like Northern Star are down over the last few months, with a key divergence in late April. Whereas the US Dollar index (DXY) has climbed steadily. Even more curious, is the performance of the Russian Ruble against the US Dollar (RUB/USD).

Northern Star share price snapshot

In the last 12 months the Northern Star share price has slipped more than 23% into the red and is down more than 7% this year to date.

Losses have extended into the past month of trade with shares sliding another 11% in that time.

The post Where is the Northern Star share price headed in June? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
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• Why I think these 3 ASX shares are top-quality buying at today’s prices

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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While the S&P/ASX 200 Index (ASX: XJO) fell 2.7% in May, the Beach Energy Ltd (ASX: BPT) share price surged 7%.

This comes after the company announced a couple of announcements to the ASX throughout last month.

At Wednesday’s market close, the energy producer’s shares added to its strong gains by 1.16% to $1.745.

What happened with Beach Energy?

At the start of May, Beach Energy delivered its Macquarie Conference presentation which highlighted its growth strategy.

Management stated that its FY22 guidance is on track for production of 21 – 23 million barrels of oil equivalent (Mmboe). The majority of the supply will come from the company’s East Coast Gas market.

In addition, Beach Energy reaffirmed its plan to achieve production of 28 Mmboe by FY24. In contrast, it recorded production of 25.6 Mmboe in FY21 – down 4% on the previous year.

Looking at the near-term, management expects to have 8 gas plants producing from 5 basins by the end of 2023. The plants will deliver gas to 4 markets including the East Coast gas market and the global LNG market.

The news sent the company’s shares 1.54% higher on the release, followed by a 3.94% gain the following day.

During mid-month, Beach Energy announced the appointment of Morné Engelbrecht as its new CEO with immediate effect.

A day later, the company provided an update in relation to its Bass Basin acreage.

However, the two releases above weren’t enough to rally the share price due to market volatility in the sector. As such, Beach Energy shares fell around 7% from 18 May to 20 May.

Nonetheless, at the end of May, the company’s shares recovered lost ground with a 5.18% gain. This came off the back of strengthening oil prices and the EU agreeing to a partial ban on Russian oil imports.

Beach Energy share price summary

Over the last 12 months, the Beach Energy share price has lifted by 36%, with year-to-date up 38%.

Its shares hit a 52-week high of $1.77 in March before trading sideways for the following months.

Beach Energy presides a market capitalisation of roughly $3.94 billion.

The post The Beach Energy share price zipped higher in May. Here’s why appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
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• Why Argosy, Arafura, Beach, and De Grey Mining shares are rising
• Why is the Beach Energy share price having such a cracking Tuesday?
• ASX 200 midday update: Beach, Santos rise but EML, Zip tumble

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The BHP Group Ltd (ASX: BHP) share price could be great value at the current level.

That’s the view of analysts at one leading broker.

What is being said about the BHP share price?

According to a note out of Goldman Sachs this morning, its analysts have reinstated coverage on the mining giant’s shares with a buy rating and $51.20 price target.

Based on the current BHP share price of $45.65, this implies potential upside of 12% for investors over the next 12 months.

In addition, the broker is forecasting fully franked dividend yields of ~11% in FY 2022 and ~9% in FY 2023. This brings the total potential 12-month return to greater than 20%.

What did the broker say?

Goldman Sachs revealed that it reinstated its buy rating due to the Big Australian’s attractive valuation and free cash flow, as well as upside from its ~US$20bn copper growth pipeline.

In respect to its valuation, the broker acknowledges that the BHP share price trades at a premium to peers but believes this is justified and will continue despite the petroleum demerger. It explained:

BHP has traded at a ~0.5x EV/EBITDA premium to global mining peers over the past decade, which we put down partly to the benefits of the higher margin oil business. […] We believe this premium vs. peers can be maintained due to ongoing superior margins and operating performance (particularly in Pilbara iron ore), high returning copper growth, and lower iron ore replacement & decarb capex, and jurisdiction risk.

As for its copper growth potential, Goldman Sachs highlights:

[We] continue to believe BHP’s major opportunity (and challenge) is offsetting copper reserve depletion and grade decline in Chile from 2023 through investing in BHP’s copper reserves/resources (40Mt/200Mt) which are the largest globally. We now include US$6bn of copper projects out of the ~US$20bn we have identified, delivering 400-500ktpa of copper out of potential ~0.9Mtpa total. If BHP develops all copper options, we forecast modest Cu Eq production (CAGR) of around ~1% over the decade, broadly in line with global peers.

All in all, the broker sees a lot of value in the BHP share price, which could make it one to consider if you’re looking for exposure to the resources sector.

The post Top broker tips BHP share price to jump 12% appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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