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The Santos Ltd (ASX: STO) share price is wobbling today despite booming oil prices and a strong broader market.

While the company’s stock doesn’t seem to be responding to oil prices today, a boost in the black liquid’s value will likely be good news for the oil and gas producer in the long term.

At the time of writing, the Santos share price has recovered from its afternoon dip to trade at $6.44, 0.63% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 1.06% while the S&P/ASX 200 Energy Index (ASX: XEJ) has gained 1.27%.

Let’s take a closer look at what experts are predicting for the oil price in 2022 and what that could mean for the Santos share price in the future.

What’s going on with oil prices this week?

The ASX has returned from its Christmas break wherein oil prices surged to a new 30-day high.

Right now, according to CNBC, a barrel of West Texas Intermediate oil is going for US$75.94, while Brent crude oil is trading at US$79.02 per barrel.

That’s the highest they’ve been since the emergence of the Omicron COVID-19 variant sparked an oil price crash in late November.

And, according to reporting by Reuters, the variant is also to blame for oil’s recent resurgence. Global markets are seemingly increasingly confident Omicron won’t spark another wave of global lockdowns.

That’s good news for oil, and what’s good news for oil, is generally also good news for the Santos share price.

What experts are predicting for oil prices in 2022

Many brokers are bullish for oil prices in 2022. Though, one prestigious entity isn’t so certain.

According to Fortune, both Goldman Sachs and Barclays are predicting oil prices will gain in 2022, particularly, if COVID-19 outbreaks are minimised.

Additionally, Reuters reports JP Morgan believes oil prices could go higher than US$125 per barrel in the new year, driven by production shortfalls.

However, the US Energy Information Administration disagrees. It expects Brent crude oil to average around US$70 a barrel in 2022.

What that means for the Santos share price

As oil is one of Santos’ major products, its income tends to rise and fall in line with oil prices. Of course, its incomes generally drive its stock on the ASX.

While share price movements cannot be directly correlated to rising (or falling) oil prices, changes in the commodity’s value could draw attention to Santos’ stock in 2022.

That is likely particularly true as its merger with Oil Search has now been finalised, leaving it with even more oil assets.

Today, the ASX 200 energy sector is being led by Santos’ peer, Beach Energy Ltd (ASX: BPT), closely followed by petroleum retailer, Ampol Ltd (ASX:ALD). The companies’ share prices have gained 3.48% and 2.46% respectively.

The post Could this drive the Santos (ASX:STO) share price in 2022? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy
• 5 things to watch on the ASX 200 on Friday
• Is the Santos (ASX:STO) share price good value after the Oil Search merger?
• 5 things to watch on the ASX 200 on Thursday
• These 3 ASX 200 shares are topping the volume charts on Wednesday

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 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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Once again, with the majority of brokers across Australia taking a well-earned break, broker notes will be few and far between over the next couple of weeks.

In light of this, listed below are a few recent broker recommendations that remain very relevant today. Here are three ASX shares rated as buys:

Accent Group Ltd (ASX: AX1)

According to a note out of UBS, its analysts have initiated coverage on this footwear retailer’s shares with a buy rating and $3.00 price target. UBS believes Accent is well-placed for growth post-COVID. It also sees opportunities for the company’s margins to expand and its store network to grow in the coming years. The Accent share price is trading at $2.45 this afternoon.

ResMed Inc. (ASX: RMD)

Analysts at Macquarie have upgraded this medical device company’s shares to an outperform rating with a $39.00 price target. Although the broker acknowledges that supply chain issues are putting pressure on near term device supply, its analysts remain bullish. This is due to an expected increase in industry volume growth from 2023 and market share gains for ResMed. Macquarie believes this will support revenue and earnings growth ahead of current consensus estimates. The ResMed share price is fetching $36.08 today.

Santos Ltd (ASX: STO)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this energy producer’s shares slightly to $8.65. This follows a review of Santos’ merger with fellow energy producer Oil Search. Morgans is positive on the company’s outlook and sees upside risk from the potential sale of stakes in some of its assets. All in all, the broker believes the merger leaves Santos well positioned to control its own future in difficult ESG-driven debt and equity markets. The Santos share price is trading at $6.51 on Wednesday afternoon.

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

More reading

• 2 buy-rated ASX dividend shares
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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 recommended Accent Group and ResMed Inc. 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 Invictus Energy Ltd (ASX: IVZ) share price is soaring after the company recommenced trading this morning from a week-long halt.

At the time of writing, the oil and gas company’s shares are swapping hands at 14.5 cents apiece, up 26.09%

The surge comes amid announcements of a proposed issuing of securities and a capital raising of $5.5 million.

Let’s check the latest news from the company.

Cabora Bass capital raising

In its announcements today, Invictus said its capital raising will be to fund the development of its Cabora Bassa project in Zimbabwe.

The company says it has received investor commitments totalling $3.5 million before costs. Under its share placement scheme, Invictus will issue 35,000,000 new fully-paid ordinary shares at an issue price of 10 cents.

This represents a 13% discount on the company’s last closing price on 22 December and a 14.1% discount on the 5-day volume-weighted average price prior to the trading halt.

In addition, the company announced an additional share purchase plan for another 20 million shares for “long-term and loyal shareholders” which will raise a further $2 million.

All eligible shareholders will be able to apply for up to $30,000 of new shares.

Invictus says it plans to put the funds towards the project’s rig mobilisation fee, the purchase of “long lead items” for the planned 2-well drilling program, and the finalisation of data processing of its seismic survey.

The company is touting its Cabora Bassa project as “potentially the largest, undrilled seismically defined structure onshore Africa”.

The drilling program is due to start in the first half of 2022.

Invictus Energy share price snapshot

The Invictus Energy share price has skyrocketed over the last twelve months, up 145%.

The company has a market capitalisation of more than $80 million with almost 600 million shares issued.

The post Why is the Invictus (ASX:IVZ) share price up 26% today? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Chalice Mining (ASX:CHN) share price is racing higher today
• Here’s why the Cynata (ASX:CYP) share price is rising today
• Why Afterpay, Corporate Travel, Dicker Data, and Synlait shares are falling
• Why Magnis, Pilbara Minerals, Syrah, and Whispir shares are storming higher
• Is this ASX sector gearing up for a year of M&A activity?

Motley Fool contributor Alice de Bruin 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 Bruce Jackson.

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After spending much of the day in the red, the Chalice Mining Ltd (ASX: CHN) share price has bounced back in afternoon trade.

At the time of writing, the mineral exploration company’s shares are up 4% to $9.09.

Why is the Chalice Mining share price charging higher?

The catalyst for the rise in the Chalice Mining share price today was the release of an announcement this afternoon.

According to the release, the Government of Western Australia has approved the stage two Conservation Management Plan (CMP) for initial low-impact drilling at the Hartog and Baudin targets at its 100%-owned Julimar Ni-Cu-PGE Project.

The release explains that the CMP sets out strict environmental requirements governing initial low-impact drilling activity at the priority targets located within the Julimar State Forest. The good news is that no mechanised clearing of vegetation is required to access drill sites and vegetation disturbance will be avoided where possible by using existing recreational tracks.

Chalice also highlights that it has conducted extensive flora and fauna surveys covering an area of ~5,700ha to inform the company’s drilling program. A key condition of the CMP includes monitoring by qualified fauna observers throughout the program to ensure there is no direct impact to wildlife. Furthermore, cultural heritage surveys and advice received from Yued and Whadjuk Traditional Owner groups have confirmed that no cultural heritage sites will be affected by the drilling program.

If all goes to plan with the drilling, Chalice could grow the already incredible mineral resource of the Julimar Ni-Cu-PGE Project.

In November, the company defined a tier-1 scale, pit-constrained maiden resource for the Gonneville deposit at Julimar.

The maiden indicated and inferred, pit constrained, mineral resource estimate was for 10Moz of palladium, platinum, and gold, 530kt of nickel, 330kt of copper and 53kt of cobalt. This makes it the largest nickel sulphide discovery in over 20 years and the largest platinum-group elements (PGE) discovery in Australian history.

Management believes that this establishes the foundation for a world-class green metals project.

The post Here’s why the Chalice Mining (ASX:CHN) share price is racing higher today appeared first on The Motley Fool Australia.

More reading

• Why is the Chalice Mining (ASX:CHN) share price surging today?
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• 5 things to watch on the ASX 200 on Wednesday
• Bell Potter names the best ASX mining shares to buy in 2022
• Why did the Chalice Mining (ASX:CHN) share price slide today?

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 Bruce Jackson.

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The Cynata Therapeutics Limited (ASX: CYP) share price is in the green today following news of a company deal.

Shares in the biotechnology company are up 4.1%, trading at 50 cents at the time of writing.

Let’s look at what might be impacting the Cynata share price today.

What did the company announce?

Cynata advised it was entering a manufacturing services agreement with the Wisconsin-based Fujifilm Cellular Dynamics (FCDI).

The agreement will enable FCDI to manufacture stem cell technology for Cynata to use in clinical trials and potential commercialisation. These stem cells are derived from induced pluripotent stem cells.

Cynata is an Australian-based company that is developing therapies to treat human disease using its Cymerus therapeutic stem cell technology. This includes its lead product CYP-001, which is at the planning stage for a phase 2 clinical trial.

FCDI is a global developer of human-induced pluripotent stem cell technologies.

What did management say?

Commenting on the agreement, Cynata chief operating officer Dr Killian Kelly said:

Ultimately, we foresee FCDI manufacturing product for our growing pipeline of clinical trials in high value indications and potentially for commercial use.

This provides a turn-key manufacturing solution that our future corporate partners may avail themselves of.

Importantly, FCDI has also confirmed a strong commitment to our relationship by agreeing to extending the voluntary escrow over their shares in Cynata.

Cynata initially flagged the deal to the market in September.

Now the deal is sealed, the companies will set up a manufacturing process for the Cymerus stem cell technology at the FCDI’s US base.

Cynata share price snapshot

The Cynata share price has plummeted this year, down nearly 28% since January.

In contrast, the S&P/ASX 200 Index (ASX: XJO) is returning nearly 12% this year to date.

The company’s shares have lifted more than 11% in the past five days alone.

The company has a market capitalisation of around $71 million based on the current share price.

The post Here’s why the Cynata (ASX:CYP) share price is rising today appeared first on The Motley Fool Australia.

More reading

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• Why Magnis, Pilbara Minerals, Syrah, and Whispir shares are storming higher
• Is this ASX sector gearing up for a year of M&A activity?
• Analysts name 3 ‘must have’ ASX shares for buy and hold investors
• Why is December being so kind to Bank of Queensland (ASX:BOQ) shares?

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 Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) has returned from the long weekend in fine form. In afternoon trade, the benchmark index is up 1% to 7,496.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down over 2% to $84.66. Investors have been selling the buy now pay later provider’s shares in response to yet another pullback in the Block (Square) share price overnight. Afterpay shareholders recently voted in favour of Block’s all-scrip takeover proposal.

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is down 1.5% to $21.98. This decline appears to have been driven by concerns that the rising cases of the Omicron variant of COVID-19 could derail the travel market recovery. The UK and France recently reported record daily infections of 130,000 and 180,000, respectively.

Dicker Data Ltd (ASX: DDR)

The Dicker Data share price is down 2% to $14.61. This may have been driven by confirmation that its founder and Chair, David Dicker, has transferred 48 million shares into a personal associated entity, Rodin Ventures, of which he is a director. The company advised that the transaction is an internal transfer by Mr Dicker to an associated entity for commercial, estate and charitable purposes. No shares have been sold at this point.

Synlait Milk Ltd (ASX: SM1)

The Synlait Milk share price is down 4.5% to $3.25. This is despite there being no news out of the dairy processor. This latest decline means Synlait’s shares are now down 35% in 2021. The team at Bell Potter appear to see this as a buying opportunity. The broker recently named the company as one of its top picks for 2022.

The post Why Afterpay, Corporate Travel, Dicker Data, and Synlait shares are falling 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. owns and has recommended Afterpay Limited and Dicker Data Limited. The Motley Fool Australia owns and has recommended Afterpay Limited and Dicker Data Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up over 1% to 7,498.4points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Magnis Energy Technologies Ltd (ASX: MNS)

The Magnis Energy share price is up 15% to 52 cents. Investors have been buying the battery technology company’s shares after it announced a milestone achievement for its 60%-owned New York lithium-ion battery plant. According to the release, semi-automated production has commenced at the iM3NY Battery Plant and is expected to scale up to 1.8 GWh during the first half of 2022. This will make it one of the largest players in the United States lithium-ion battery cell manufacturing market.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 4.5% to $3.09. Investors have been buying lithium shares on Wednesday amid optimism that prices of the battery making ingredient will stay higher for longer. Before Christmas, analysts at Macquarie suggested lithium prices could remain at record levels for four years.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price is up 4% to $1.70 following the release of further details on its deal with Tesla. Syrah revealed that, subject to certain conditions, Tesla will offtake 8kt per annum of the proposed initial expansion of AAM production capacity at its Vidalia facility in the USA. This compares to the initial planned production capacity of 10kt per annum.

Whispir Ltd (ASX: WSP)

The Whispir share price is up 7% to $2.05. This morning the communications workflow platform provider announced a multi-year contract with global telecommunications leader and Optus parent, Singtel. According to the release, the contract has a minimum value of SG$1.3 million (A$1.32 million) for professional services and software licence fees. In addition, transactional usage fee revenue will be generated, representing revenue upside.

The post Why Magnis, Pilbara Minerals, Syrah, and Whispir shares are storming higher appeared first on The Motley Fool Australia.

More reading

• Is this ASX sector gearing up for a year of M&A activity?
• ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again
• Pilbara Minerals (ASX:PLS) share price surges 6% to hit new record high
• Here’s why the Magnis (ASX:MNS) share price is powering ahead today
• Why is the Whispir (ASX:WSP) share price shooting 8% higher?

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. owns and has recommended Whispir Ltd. The Motley Fool Australia has recommended Whispir Ltd. 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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ASX lithium shares might be in for a roaring 2022, with experts predicting the sector could be a major merger and acquisition target.

Reports of the lithium market’s outlook might have buoyed sentiment in the resource’s producers today.

The Pilbara Minerals Ltd (ASX: PLS) share price is currently surging 5%. Meanwhile, that of Rio Tinto Limited (ASX: RIO) and Mineral Resources Limited (ASX: MIN) are up 0.2% and 1.6% respectively.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 0.99% at the time of writing.

Let’s take a look at what the experts are expecting from the ASX lithium sector and the shares that call it home, in 2022.

What might be in store for ASX lithium shares in 2022?

According to recent reporting by The Australian, 2022 could bring movement for the lithium space. Particularly, as Chinese companies are predicted to be vying for control over mines.

Companies based in China are reportedly turning their attention to international lithium resources to continue supplying the nation’s battery industry.

Additionally, the publication claims Canaccord Genuity analyst Timothy Hoff told clients that large miners are “finally taking notice of what is happening in the lithium market”.

The statement follows last week’s news that ASX giant Rio Tinto is undergoing the $1.15 billion acquisition of an Argentinian lithium project. The purchase is expected to go ahead in the first half of 2022.

Meanwhile, the company is continuing to face challenges at its $3.3 billion Jadar project.

The Australian also quoted Barrenjoey mining analyst Glynn Lawcock. Lawcock reportedly believes Rio Tinto might be on the lookout for more lithium assets in the near future.

It comes only weeks after S&P Global Platts quoted a spokesperson from China-based, Tianqi Lithium Corp as saying:

Due to its strategic significance, lithium resources will [become] more difficult to obtain and control. Therefore, lithium resources will become a key factor restricting the development of the industry in the medium- and long-term.

It also reported that many lithium producers are pushing to expand their production to keep up with burgeoning demand. Interestingly, Mineral Resources and Pilbara Minerals are doing just that.

The former is planning to restart its 40%-owned MARBL joint venture in 2022. At the same time, the latter is aiming to restart its Ngungaju plant.

Last week, my Foolish colleague James Mickleboro reported that Macquarie Group Ltd (ASX: MQG) analysts are predicting lithium prices will continue to strengthen in 2022. Additionally, they predict prices will stay high over the coming 4 years.

It likely goes without saying that all eyes will be on the ASX lithium sector in the new year. Particularly, as many of its participants already enjoyed a generally fruitful 2021.

The post Is this ASX sector gearing up for a year of M&A activity? appeared first on The Motley Fool Australia.

More reading

• Why Magnis, Pilbara Minerals, Syrah, and Whispir shares are storming higher
• ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again
• Pilbara Minerals (ASX:PLS) share price surges 6% to hit new record high
• 5 things to watch on the ASX 200 on Wednesday
• 2 buy-rated ASX dividend shares

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 Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re a fan of buy and hold investing, then you may want to look at the “champion” ASX shares listed below.

These are three of Bell Potter’s favourite picks for long term-focused investors that it believes could drive superior earnings growth and shareholder value over the coming years.

Its analysts believe these champion shares are must haves for ASX portfolios. Here’s why:

Amcor CDI (ASX: AMC)

The first champion ASX share is this packaging giant. The broker believes it is well-placed for growth over the long term following its major acquisition of Bemis in 2019.

Bell Potter explained: “After the acquisition of Bemis Company, the combined group is the global leader in consumer packaging with a footprint encompassing North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. The group offers an attractive combination of defensive earnings in the developed countries with faster growth in emerging markets, which accounted for 26% of group sales in fiscal 2021.”

CSL Limited (ASX: CSL)

Another champion stock is CSL. Bell Potter is bullish on this biotherapeutics giant’s future thanks partly to its world class portfolio of products, the positive outlook for plasma volume growth, and its burgeoning research and development pipeline.

Bell Potter commented: “A leading global company in the development, manufacture, and distribution of plasma therapies as well as non-plasma biotherapeutic products and influenza related products. The global growth in plasma volumes is expected to be around a solid 8% per annum for the foreseeable future and, in addition, the group is planning to launch new products from its very extensive Research and Development portfolio.”

It is also worth noting that since the release of this note, the company has acquired Vifor Pharma for US$17 billion. This deal both strengthens and complements CSL’s existing product portfolio and is expected to be earnings accretive.

Goodman Group (ASX: GMG)

This property giant is another that Bell Potter has among its champions. Its analysts believe Goodman’s exposure to industrial and logistics properties will support its growth over the long term.

Its analysts commented: “One of the world’s largest integrated industrial property groups with operations centred around development, management and ownership throughout Australia, New Zealand, Asia, Europe, United Kingdom, North America, and Brazil. The long term outlook for industrial and logistics properties is favourable given the continuing growth in ecommerce (or on-line retail sales) and the growing middle class in developing countries.”

The post Analysts name 3 ‘must have’ ASX shares for buy and hold investors appeared first on The Motley Fool Australia.

More reading

• 3 ASX biotech shares rated as buys in 2022
• Top broker tips CSL (ASX:CSL) share price to climb to $340
• 5 things to watch on the ASX 200 on Wednesday
• 3 five-star ASX shares to buy in 2022
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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. owns and has recommended CSL Ltd. The Motley Fool Australia owns and has recommended Amcor Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Bank of Queensland Limited (ASX: BOQ) share price has risen by around 7.5% in December 2021 so far.

This banking business is a lot larger after acquiring the ME Bank business earlier in the year.

What’s going on in December 2021 for the BOQ share price?

The regional bank provided an update for investors earlier this month when it held its annual general meeting (AGM).

BOQ said that its FY22 guidance is still at least 2% positive jaws. That is a comparison between the bank’s income and expenses.

It also said that its growth momentum has continued in the first quarter of its FY22, with “strong” application volumes across both the housing and business lending portfolios.

The BOQ, Virgin Money Australia and BOQ Specialist housing portfolio increased by around $1 billion for the quarter, continuing market-beating growth. ME Bank returned to growth for the month of November 2021, with application volumes in the first quarter up 62% compared to the FY21 average.

Business banking lending grew by around $200 million in the first quarter of FY22. BOQ said the asset finance business is also performing “well”.

Management said that the growth in retail and business remains disciplined and high-quality, with low levels of home loans that have a loan to value ratio of more than 90%. There is a focus on small and medium enterprises (SMEs) in the business bank.

Net interest margin (NIM) difficulties

Whilst BOQ is expecting positive jaws, it highlighted that the industry is experiencing NIM headwinds as a result of tougher trading conditions, including yield curve volatility that happened after the Reserve Bank of Australia (RBA) removed its yield curve control.

Other impacts include intense price competition, increased fixed rate lending and higher liquid asset balances. BOQ noted that this will result in a slightly lower FY22 NIM than previously guided.

Cost focus

BOQ says that FY22 expenses are now expected to be around 1% lower than FY21, reflecting additional productivity benefits. More of the cost cuts will be realised in the second half.

The ME Bank integration program remains on track, with approximately $23 million of full year synergies delivered in the first quarter of FY22 thanks to operating model changes, consolidation of the investment roadmaps and early supply chain benefits.

Is the BOQ share price still an opportunity?

Brokers at Macquarie Group Ltd (ASX: MQG) certainly think so. It rates BOQ shares as a buy with a price target of $10 – that’s approximately 20% higher than where it is right now.

Macquarie thinks that BOQ has a better outlook compared to its banking competitors.

On Macquarie’s numbers, the bank is valued at 11x FY22’s estimated earnings with a projected grossed-up dividend yield of 8%.

The post Why is December being so kind to Bank of Queensland (ASX:BOQ) shares? appeared first on The Motley Fool Australia.

More reading

• Own Bank of Queensland (ASX:BOQ) shares? Here are the key dates to watch in 2022
• Are Bank of Queensland (ASX:BOQ) shares a better buy for 2022 than Bendigo Bank?
• What’s on the cards for the Bank of Queensland (ASX:BOQ) share price in 2022?
• Goldman Sachs names 2 ASX 200 shares to buy
• Bank of Queensland (ASX:BOQ) shares: $8 one day, $10 the next?

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 Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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