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The S&P/ASX 200 Index (ASX: XJO) had a pretty poor day on Thursday, closing 0.28% down to 7,384.50. But one ASX 200 share left the index in the dust. That was none other than AGL Energy Limited (ASX: AGL).

Yes, AGL shares went up by a very healthy 4.66% on Thursday to finish the session at $5.84. This means the AGL share price is now trading 14.5% above its 20-year low of $5.10, which it descended to back on 16 November.

A partnership with Fortescue Future Industries?

So why did AGL shares have such a robust day? Especially in the face of an anaemic broader market?

Well, there was no news or announcements out of AGL today, so we can’t say for sure. However, these gains could possibly be linked to the news out yesterday.

As we reported, AGL told investors that it has signed a memorandum of understanding (MOU) with Fortescue Future Industries. This could result in AGL transforming its Liddell and Bayswater coal-fired power stations into green hydrogen hubs.

The MOU will result in a 12-month feasibility study which will “map key operational and commercial plans for the project”.

Fortescue Future Industries is the hydrogen venture started by Fortescue Metals Group Limited (ASX: FMG) boss Dr Andrew Forrest AO. It aims to produce 15 million tonnes of green hydrogen annually by 2030 using renewable energy.

AGL aims to close Liddell and Bayswater by 2023 and 2025 respectively. In their place, AGL is hoping to use renewable energy and large-scale batteries — ideally in conjunction with Fortescue Future Industries.

AGL share price snapshot

AGL’s long-suffering shareholders will no doubt welcome today’s price gains. AGL has seen its market capitalisation decimated over the past 5 years. This has occurred due to poor energy market profitability and concern over AGL’s emissions-intensive power generation assets.

Despite the recent rally, the AGL share price is still down a nasty 51.9% year to date in 2021. It’s also down close to 80% from the all-time highs of roughly $28 a share that we saw back in 2017.

At the current AGL share price, the company has a market capitalisation of $3.84 billion with a trailing dividend yield of 11.15%.

The post Why did the AGL share price outperform the ASX 200 today? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Fortescue (ASX:FMG) share price rises amid green train progress
• ASX 200 (ASX:XJO) midday update: Sydney Airport takeover update, Santos falls
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX shares today

Motley Fool contributor Sebastian Bowen 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 Argenica Therapeutics Ltd (ASX: AGN) share price was rocketing today after the company released positive news on a US patent.

The biotechnology company’s shares were up 12.36% at the close, trading at 75 cents.

Argenica is working on new therapeutics to protect the brain after a patient suffers a stroke and other brain injuries.

Why is the Argenica share price up today?

Investors appeared to welcome news the company will be granted a US patent for its lead drug candidate ARG-007.

Argenica said this meant it would be able to use ARG-007 to treat people with stroke, traumatic brain injury and hypoxic-ischaemic encephalopathy (HIE). HIE is a condition that arises from not having enough oxygen or blood flow to the brain.

Argenica now plans to spearhead the drug’s commercialisation in the lucrative United States market.

The company advised it was given official “notice of allowance” for the patent, with the patent being formally granted within months.

The patent claim also covers the drug’s use for other diseases including multiple sclerosis, Parkinson’s disease, Huntington’s disease and epilepsy.

Comment from management

Argenica CEO Dr Liz Dallimore welcomed the announcement, saying:

The granting of this patent will strengthen our ability to enter into commercial negotiations with US pharmaceutical companies in the future.

The allowance of the claims in Argenica’s US patent are essential to potentially commercialising ARG-007 in our lead applications of stroke, TBI and HIE in the US.

Argenica Therapeutics share price snapshot

The Argenica share price has shot up in 2021, up 275%. The company listed on the ASX in June.

Over the past month, Argenica shares are up 50%. The company has a market capitalisation of about $35 million based on the current share price.

The post Argenica (ASX:AGN) share price leapt 12% on US patent news today appeared first on The Motley Fool Australia.

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• 2 top ETFs that could be buys in December 2021
• Could rumours over a Westpac (ASX:WBC) mega-merger ever become facts?
• Here’s why the Galan Lithium (ASX:GLN) share price popped today
• These were the top performing ASX cannabis shares in November
• Here are the top 10 ASX shares today

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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Exchange-traded funds (ETFs) could be smart picks in December 2021 for the long-term.

ETFs can be very effective investment vehicles to get exposure to the stock market. Some ETFs are focused on a particular share market, like Vanguard Msci Index International Shares ETF (ASX: VGS).

But there are others that provide more specific exposure and have historically produced better returns:

Betashares Global Cybersecurity ETF (ASX: HACK)

This ETF provides investors with access to a range of businesses involved with cybersecurity. In total, there are 36 positions in the portfolio.

Some of those businesses are large companies like Palo Alto Networks, Cisco Systems, Okta, Crowdstrike, Cloudflare, F5 Networks, Mimecast and Verisign. There are also smaller ones like Tufin, Ribbon Communications and Zix.

BetaShares says that worldwide spending on cybersecurity is predicted to increase to almost US$250 billion by 2023. This ETF provides access to the leading companies who are working to reduce the impact of cybercrime globally.

The investment fund provider notes that there are very few pure play cybersecurity businesses on the ASX, so this ETF is a way to get that exposure.

It comes with an annual management fee cost of 0.67%. After fees, the Betashares Global Cybersecurity ETF has returned an average of 22.6% per annum over the last five years. However, past performance is not a reliable indicator of future performance.

Over 90% of the portfolio is based on US-listed businesses. The other countries with noticeable allocations are: Israel, Japan, France and India.

VanEck Morningstar Wide Moat ETF (ASX: MOAT)

This ETF has a focus on quality US companies that Morningstar believes have sustainable competitive advantages, or wide economic moats.

The target companies must be trading at attractive prices relative to Morningstar’s estimate of fair value to be added to the portfolio. Those valuations are reached after Morningstar’s “rigorous” equity research process.

At 7 December 2021, this ETF had 50 positions. The ones with weightings of more than 2.5% were: Berkshire Hathaway, Constellation Brands, Salesforce, Blackbaud, Corteva, Aspen Technology, Alphabet, Tyler Technologies, Wells Fargo, Microsoft and Cheniere Energy.

For the moat rating, Morningstar looks at the 1,500 companies under its coverage and decides whether those businesses have sustainable competitive advantages that allow the company to generate positive economic profits for investors over an extended period of time. Only 14% had a wide moat rating.

To earn a wide moat rating, a company must (with near certainty) be able to generate excess normalised returns in 10 years from now. Also, excess normalised returns must, more likely than not, be positive 20 years from now.

For this ETF, the duration of forecast economic profit is far more important than the absolute magnitude. For example: “If a high-flying tech company is a first-mover in offering a popular, innovative product or service, it might quickly achieve very high returns on invested capital. However, if there is no moat source, such as intellectual property, preventing competitors from replicating that product or service”, then the business wouldn’t get a wide moat rating.

It has an annual management fee of 0.49% and has produced average returns per annum of 18.4% over the last five years. Again, past performance is not a reliable indicator of future performance.

The post 2 top ETFs that could be buys in December 2021 appeared first on The Motley Fool Australia.

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• Boost your portfolio in 2022 with these popular ASX ETFs
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• 3 excellent ETFs for ASX investors in December
• Why Zip (ASX:Z1P) and this ASX tech share could be buys
• 2 fantastic ETFs generating strong returns for ASX investors

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. owns and has recommended BETA CYBER ETF UNITS and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia owns and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors Morningstar Wide Moat ETF and Vanguard MSCI Index International Shares ETF. 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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Rumours on the grapevine have persisted around a potential merger between Westpac Banking Corp (ASX: WBC) and Australia and New Zealand Banking Group Ltd (ASX: ANZ).

The big four have stood the test of time as the cornerstone of Australia’s financial system. In fact, the big four is a protected structure by the Australian Government under the longstanding “four pillars policy”. However, the important distinction is that its government policy, not legislation.

For this reason, whispers of ANZ and Westpac exploring a merger have sparked speculation among investors. But does any potential deal hold water?

Is there merit in a Westpac merger on the ASX?

Over the years, the four pillars policy has received criticism for being outdated. This government policy acts as a blockade against any of the four major banks merging. The point of it is to maintain a competitive industry within banking for the sake of consumers. However, the policy is not law — which means there is always a slight possibility.

Word on the street is ANZ, Westpac, and National Australia Bank Ltd. (ASX: NAB) are feeling out their options. Although, these rumours have not been confirmed. Regardless, the question of whether a Westpac/ANZ merger would make sense is an interesting one.

According to Jefferies bank analyst Brian Johnson, a mega-merger of Westpac and ANZ would better serve the latter rather than the former. More importantly, the turbulence created by such a deal would mostly benefit the Commonwealth Bank of Australia (ASX: CBA).

If this was to play out, the exchange ratio would favour ANZ, but disruption would add impetus to CBA’s operational outperformance

Brian Johnson, Jefferies

In explaining this reason, Johnson mentioned how cost synergies often don’t go to plan in the banking industry. For instance, Westpac’s acquisition of St George Bank was paraded for the potential to integrate IT systems and reduce costs, the reality ended up being far different.

The attempted simplification resulted in a more complex beast, and 13 years later, the home lending systems are still separate.

What’s the odds?

A merger involving Westpac on the ASX is unlikely in the eyes of the lead banking analysts for a couple of reasons. Firstly, the four pillars policy remains in place, with the government likely to uphold it if it needed to. The patchy track record of the banks’ behaviour as uncovered by the banking royal commission further enforces this.

Secondly, the Australian Prudential Regulation Authority (APRA) would likely oppose a merger. Johnson believes APRA would be wary of its impaired ability to contain the damage if a bank became stressed. The regulatory body would possibly struggle to force a strategic merger if one of the big four were to be removed.

Compared to the other big banks on the ASX, Westpac’s share price has underperformed since the beginning of the year.

The post Could rumours over a Westpac (ASX:WBC) mega-merger ever become facts? appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns Commonwealth Bank of Australia. 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 Westpac Banking Corporation. 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 Galan Lithium Ltd (ASX: GLN) share price spent a day in the green after the company announced a positive economic study.

After touching an intraday high of $1.62 this morning, the Galan share price has since retreated and was swapping hands at $1.52, up 0.66% at the close of trade today.

Galan is a mining company exploring for lithium on the Humbre Muerto basin in Argentina.

What did Galan Lithium announce today?

In today’s release, the company detailed its economic assessment of its Hombre Muerto West Project in Argentina. The company reports its economic predictions in US dollars.

The company has upgraded the net present value of the company by 120% from US$1 billion to US$2.2 billion. This is a whopping $3.1 billion in Australian dollars.

Galan Lithium also predicted an average annual earnings before interest, taxes, depreciation and amortisation (EBITDA) of US$287 million, up 65%.

The study was based on an average lithium price of US$18,594 per tonne.

Looking ahead, Galan Lithium expects to perform more drilling and will soon appoint an independent engineering firm to commence a definitive feasibility level study.

Management comment

Speaking on the announcement, managing director Juan Pablo Vargas de la Vega said:

Galan remains excited about the potential value add for our shareholders once we enter the lithium market with prices expected to be +US$25k/t LCE.

Our projects would now be among the lowest cost of any future producers in the lithium industry, due to their high grade and low impurity setting, green credentials and a low carbon footprint. Galan is excited to be a part of the solution to the global decarbonisation story.

Galan Lithium share price snap shot

The Galan Lithium share price has soared 334% in the past 12 months and is up almost 294% this year to date.

In contrast, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned 10% in the past year.

The share price over 52 weeks has ranged from as low as 29 cents per share to as high as 1.73 cents apiece.

Based on its current share price, Galan Lithium commands a market capitalisation of roughly $446 million.

The post Here’s why the Galan Lithium (ASX:GLN) share price popped today appeared first on The Motley Fool Australia.

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• Galan Lithium (ASX:GLN) share price leaps 9% on ‘excellent’ project results

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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ASX cannabis shares had a difficult month in November, with most majors finishing deep in the red.

Scrolling through the extensive list of Aussie cannabis stocks, it’s abundantly clear that the sector experienced a wide sell-off. This coincided with weakness in the overall ASX healthcare sector.

We’ve sifted through the ASX cannabis basket to identify the diamonds in November’s rough.

These 3 ASX cannabis shares were the top performers over the month.

Incannex Healthcare Ltd (ASX: IHL)

Shares in medicinal ASX cannabis company Incannex Healthcare lit up in November, finishing 41% higher at a new 52-week peak.

Investors responded positively to a suite of updates from Incannex. Most notable was an ethics committee’s approval of the company’s Phase 2a trial examining the effects of psilocybin on primary anxiety disorder.

Incannex is chasing a remedial breakthrough for this complex mental health ailment, which typically responds poorly to conventional treatments. Psychedelics such as psilocybin are gaining recognition as a potential primary line of defence to treat and manage these kinds of disorders without overloading patients with a cocktail of tablets.

Aside from this, the company successfully raised more than $17.5 million via an options exercise program. This beefed up the balance sheet and secured ample liquidity to fund its clinical trial programs.

The Incannex share price is up 246% this year to date. It finished Thursday’s session at 52.5 cents, up 6.06% for the day.

Cronos Australia Ltd (ASX: CAU)

Cronos Australia aims to become a leading health and wellness company in the Asia Pacific through the creation and distribution of premium medical and consumer cannabinoid products and services.

It currently distributes its Adaya and Peace Naturals range of medicinal cannabis labels throughout Australia. It also owns more than 75% of another medicinal cannabis company, Cannadoc Health Pty Ltd.

Cronos shares exhibited a steady climb in November despite a lack of price-sensitive news from the company. Investors opened long positions in the ASX cannabis player and sent its share price 23.5% higher over the month. That’s a 61.5% gain since 4 January as the stock reclaims territory lost in 2020 due to various challenges.

Cronos shares finished Thursday’s session at 19 cents, down 5% for the day.

Emyria Ltd (ASX: EMD)

The Emyria share price was a clear outperformer in November. It closed the month with a 98% gain and nudged past its 52-week high.

The big upside move in Emyria’s share price came after it announced a strategic investment on 22 November. The investment was made by one of Australia’s largest private investment groups, Tattarang.

The name might sound familiar because Tattarang is owned by Dr Andrew ‘Twiggy’ Forrest AO. He’s also the chairman and founder of ASX 200 giant Fortescue Metals Group Limited (ASX: FMG).

The $5 million investment was made via a share placement at a price of 25 cents. This gives Tattarang a 7.3% stake in the ASX cannabis company.

Emyria will allocate the funds to its synthetic cannabinoid programs with the Therapeutic Goods Administration (TGA) and the US Food and Drug Administration (FDA).

The company will also allocate some money to the development of its novel MDMA-analogue treatment alongside the University of Western Australia.

This ASX cannabis share may have given up some of its November gains already but its share price is still 280% higher this year to date. The company’s shares closed at 38.5 cents on Thursday, down 3.75% for the day.

The post These were the top performing ASX cannabis shares in November appeared first on The Motley Fool Australia.

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• These were the 5 best performing ASX healthcare shares in November
• 3 ASX health care shares that burned the market today
• Here’s why the Emyria (ASX:EMD) share price is up 17% to a record high
• Here’s why the Incannex (ASX:IHL) share price has rocketed 60% in a month

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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Today, the S&P/ASX 200 Index (ASX: XJO) experienced a bumpy ride as it bounced between positive and negative. Unfortunately, it was on the negative side of the fence that the market decided to settle on by the end of the day. In specific terms, the benchmark index finished 0.28% lower at 7,384.5 points.

Despite oil prices rising overnight, energy shares acted as the benchmark’s biggest detractor on Thursday. Likewise, tech companies failed to find sympathy among investors, with the sector being another laggard on the market today. Meanwhile, healthcare and utilities provided some buoyancy to an otherwise lackluster session.

The question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Novonix Ltd (ASX: NVX) was the biggest gainer today. Shares in the battery materials and technology company climbed 5.93% despite there being no announcements out. Find out more about Novonix here.

The next biggest gaining ASX share today was Imugene Ltd (ASX: IMU). The clinical-stage immuno-oncology company gained 5.21%. Once again, this move to the upside occurred without any news being published by the company today. Uncover the latest Imugene details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Novonix Ltd (ASX: NVX)	$9.64	5.93%
Imugene Ltd (ASX: IMU)	$0.505	5.21%
AGL Energy Ltd (ASX: AGL)	$5.84	4.66%
Sydney Airport (ASX: SYD)	$8.59	2.87%
Lifestyle Communities Ltd (ASX: LIC)	$21.03	2.04%
Liontown Resources Ltd (ASX: LTR)	$1.54	1.99%
Steadfast Group Ltd (ASX: SDF)	$4.88	1.88%
IGO Ltd (ASX: IGO)	$10.38	1.87%
NIB Holdings Ltd (ASX: NHF)	$6.81	1.79%
Brambles Ltd (ASX: BXB)	$10.60	1.73%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Steadfast Group Ltd. The Motley Fool Australia has recommended NIB Holdings Limited and Steadfast Group 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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The Zoom2U Technologies Ltd (ASX: Z2U) share price lived up to its name today, zooming 26% to a high of 47 cents in early trading. This follows the Australian-owned delivery platform’s acquisition of the Local Delivery Shopify App. 

Zoom2u announced that it has agreed to buy the assets associated with Local Delivery for $880,000. The assets include “all intellectual property … and existing customer relationships of approximately 570 e-commerce businesses in over 45 countries”.

Marketed as a same-day delivery company employing local drivers, Zoom2U said this acquisition would allow it to expand its footprint into North America and the United Kingdom. 

At the close of trade, the Zoom2U share price was swapping hands 11.6% higher at 38 cents apiece.

Why is this good news for Zoom2u? 

Zoom2u founder and CEO Steve Orenstein said the purchase aligned with its recent initial public offering (IPO) company prospectus for acquiring software as a service (SaaS) businesses that would provide Zoom2U with new customer bases. 

The acquisition is hoped to push the Locate2u subscription-based software to existing and new local delivery customers, allowing e-commerce businesses to deliver their products in the quickest, most effective ways possible by optimising driving routes, tracking and communicating with drivers, and giving consumers accurate estimations of arrival.

Potential revenue growth is also an upside, Zoom2u says. The Local Delivery App currently brings in an annual recurring revenue (ARR) of around AU$145,000, which it hopes can be further utilised to convert new customers.

Said Orenstein:

The combination of the Local Delivery App and Locate2u will enable Shopify Merchants to provide an end-to-end delivery solution to their customers. The acquisition opens up significant opportunity to grow the Locate2u product globally… 

We will initially deploy limited sales resources to these regions to exploit the data base and prove up our ability to sell into these markets.

The purchase will be possible with cash on hand that was allocated for international growth, the company said.

Investors will be able to attend a webinar to further discuss the matter on Tuesday, 14 December. 

About the Zoom2u share price

The Zoom2U share price hit its second-lowest mark at 34 cents yesterday, challenged only by its low in September after it first listed on the ASX.

On 20 September, it shot up 19% after entering a contract agreement with Telstra Corporation Ltd (ASX: TLS) offering free two-hour delivery of Apple and Samsung handsets to homes in selected areas of Sydney, Melbourne and Brisbane.

At the time of writing, the company has a market capitalisation of more than $44 million.

The post Here’s why the Zoom2u (ASX:Z2U) share price zoomed 26% higher today appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation 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 DigitalX Ltd (ASX: DCC) share price is storming higher towards the end of market trade on Thursday. This comes after the company released an update on its recently acquired digital share trade execution business, Sell My Shares.

At the time of writing, the blockchain and asset management services provider’s shares are fetching for 10.5 cents, up 19.32%.

What did DigitalX announce?

Investors are fighting to get a hold of DigitalX shares following the company’s positive release.

In a statement to the ASX, DigitalX advised it has integrated the Drawbridge mobile application with Sell My Shares. This will enable employees and directors to quickly execute trades which have been approved under their company’s share trading policy.

DigitalX noted that the feature marks an important milestone to commercialise Drawbridge, and reap the rewards. The business application focuses on opening revenue streams through trading proceeds in addition to a software as a service model.

Furthermore, the company stated it has beefed up the Sell My Shares team with the appointment of Peter Hume. Taking on the role as product owner, Mr Hume will be tasked with executing on product improvement and growth opportunities.

An experienced technologist, Mr Hume formerly held positions chief technology officer (CTO) of stock market information platform, Market Index. He also co-founded and served as CTO of savings and digital asset investment app, Bamboo.

Pleasingly, it appears the Sell My Shares business is exceeding growth targets following DigitalX’s acquisition on 30 September. As such, the first two months has experienced revenues of 35% greater than originally forecasted in the purchase agreement.

Quick take on DigitalX

Founded in 1998, DigitalX is an Australian technology and investment company focused blockchain technology development and digital assets funds management.

DigitalX gives investors a way to gain digital asset exposures through a secure and accessible platform.

The company operates through three segments, blockchain consulting and development, asset management, and other. The latter relates to governance, finance, legal, and risk management, company secretarial and management of the corporate entity.

DigitalX share price snapshot

Adding to today’s gain, the DigitalX share price has surged by more almost 30% over the past 12 months. However, when looking at year-to-date, its shares are treading around 12% higher.

Based on today’s price, DigitalX commands a market capitalisation of about $77.96 million and has approximately 742.44 million shares outstanding.

The post DigitalX share price leaps 19% on Sell My Shares update appeared first on The Motley Fool Australia.

More reading

• Here’s why the DigitalX (ASX:DCC) share price is leaping 9% today
• The DigitalX share price has tumbled 30% in 8 days. What’s happening?
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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 Bruce Jackson.

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The Flight Centre Travel Group Ltd (ASX: FLT) share price is under pressure on Thursday.

In afternoon trade, the travel agent’s shares are down 2% to $17.64.

This means the Flight Centre share price is down 16% since this time last month.

Is the Flight Centre share price in the buy zone now?

Despite its disappointing decline over the last few weeks, the team at Goldman Sachs continue to sit on the fence with the Flight Centre share price.

According to a note out of the investment bank this morning, the broker has retained its neutral rating on the company’s shares.

However, its new price target of $20.40 still implies attractive upside of 15.5% over the next 12 months

What did the broker say?

Goldman has been looking at the Omicron variant of COVID-19 and the impact it could have on the travel market.

It commented: “Our global macro team published 4 scenarios on the Omicron variant and early signs indicate that it is likely more consistent with the downside scenario which implies a large Q1 infection wave but with vaccines still protecting against a severe disease resulting in lower hospitalization rates.”

“In our view, the implications for travel from this scenario would be an initial slowdown in searches and interest driven by the uncertainty, followed by a quick recovery. However, travel is likely to remain impacted for longer for the Southern African regions where travel bans have been imposed by several countries,” it added.

The good news is that after weighing everything up, the broker sees disruption in FY 2022 but no real impact in FY 2023.

Goldman explained: “We’ve always expected to see occasional hiccups like new variants to impact recovery through the roadmap to global full recovery in FY24. However, FLT has a significant business in South Africa, which has also been one of the leads in terms of recovery. We expect a slowdown in recovery in the EMEA region in late 1H22 and early 2H22. We however make no changes to our outlook into FY23 and beyond as a result of the Omicron outbreak.”

Though, as mentioned above, it isn’t enough for Goldman to be a little more positive on the Flight Centre share price. It continues to prefer Webjet Limited (ASX: WEB), as discussed here.

The post Is the Flight Centre (ASX:FLT) share price good value after falling 16% in a month? appeared first on The Motley Fool Australia.

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