Tag: Motley Fool

  • Why is the PYC Therapeutics share price up 170% in a year?

    The PYC Therapeutics Ltd (ASX: PYC) share price has risen 170% in a year and 13% this month, following promising results in the development of a new lead drug, and the appointment of U.S. Biopharma Executive Jason Haddock to its board.

    PYC announced Haddock will join its board of directors as the company seeks to access the US biopharmaceuticals industry. Haddock currently serves as a Board Director of Codiak BioSciences (NASDAQ: CDAK), a biotech company developing precision exosome therapeutics.

    Haddock’s appointment at ‘critical time’ for PYC 

    Sahm Nasseri, U.S. Chief Executive Officer of PYC Therapeutics, said that Haddock’s appointment would assist PYC in a range of fundamental areas.

    As we look to set up PYC to access the important U.S. biotech capital markets, Jason brings a wealth of valuable industry experience, having served as a financial, operations and strategic leader at a range of biotech companies.

    We welcome him as our second independent U.S. member of PYC’s Board of Directors and part of the growing U.S.-based leadership team as we continue to transform into a clinical stage biotechnology company. Jason’s unique expertise will play an important role in shaping our strategic path forward as we continue to enable corporate development in the U.S. and move our pipeline closer to clinical development.

    Haddock said he was excited to join PYC at a critical time in the company’s expansion into the US market.

    It is an honor to join PYC at such a critical time for the company and partner with the growing PYC executive team as it develops and executes on roadmaps that advance its pipeline of multiple candidates towards the clinic and engages key stakeholders in the U.S.

    I look forward to contributing my insights gained from a career dedicated to the development of therapies that can change the lives of patients, as PYC works to address unmet needs for ocular and other inherited diseases.

    PYC Therapeutics share price rises after drug development

    PYC is focused on developing treatments for inherited diseases, most of which are very rare. Its share price has risen 13% this month after it announced its lead investigational drug, VP-001, for the treatment of retinitis pigmentosa, has restored function of the Retinal Pigment Epithelium.

    Rp-11, as the disease is referred, kills off healthy cells in the retina in the human eye. VP-001, the drug that PYC manufactures, restores the target cells for the therapy, in patient-derived models of the disease.

    The past year has seen a notable growth trajectory for the Australian drug researchers. PYC Therapeutics’ share price has risen by more than $1 per share since April 2020.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    Motley Fool contributor Lucas Radbourne-Pugh 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.

    The post Why is the PYC Therapeutics share price up 170% in a year? appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/3rAgEXM

  • Why the SciDev (ASX:SDV) share price is flying 11% today

    asx share price exploding represented by excited looking scientist

    SciDev Ltd (ASX: SDV) shares are flying higher after the company released an important announcement earlier today. At the time of writing, the SciDev share price is trading 10.64% higher at 78 cents after hitting an intraday high of 80 cents in earlier trade.

     Here’s why investors are jumping to buy shares in SciDev today.

    SciDev share price boosted on acquisition news

    The SciDev share price is responding favourably after the company announced it is set to acquire the business of Haldon Industries Pty Ltd.

    According to the announcement, the acquisition will have a maximum consideration of $16.9 million. SciDev will issue shares to Haldon principals at 80 cents per share. In addition, a cash payment of $1.7 million will be processed on completion.

    Haldon is an Australian-based environmental engineering company focused on the water and organic pollutant sector. The company has a strong presence in the Polyfluoroalkyl (PFAS) market in Australia through its mobile treatment plants.

    SciDev noted that the acquisition of Haldon will provide the company with greater presence and scale in water infrastructure and wastewater verticals. SciDev’s management highlighted that the acquisition will accelerate the company’s plans to enter the global market.

    What is the outlook for SciDev?

    SciDev is a leader in the development and application of solids to liquid separation. The company combines technology and chemistry to solve operational and environmental issues in the water, oil, gas and construction markets.

    In further news driving the SciDev share price today, the company also released an investor presentation to supplement its acquisition announcement. The company noted that the acquisition will deliver various strategic opportunities.

    Firstly, SciDev will have access to the growing PFAS market in Australia with the ability to deliver a full treatment solution. In addition, the company expects to leverage its engineering and technology to drive further business development opportunities.

    SciDev also highlighted that the acquisition will help it to diversify revenue streams whilst also providing it with a larger talent pool. The company also looks to expand its supply chain and end commodity exposure with the ability to provide direct chemical sales to Haldon customers.

    SciDev made headlines earlier this month after it announced a partnership with Fortescue Metals Group Limited (ASX: FMG).

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    • SciDev (ASX:SDV) share price on watch after winning tender process with Fortescue (ASX:FMG)

    Motley Fool contributor Nikhil Gangaram 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.

    The post Why the SciDev (ASX:SDV) share price is flying 11% today appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/3cAmC6Z

  • Leading brokers name 3 ASX shares to buy today

    3 asx shares to buy depicted by man holding up hand with 3 fingers up

    With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

    Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

    BHP Group Ltd (ASX: BHP)

    According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this mining giant’s shares to $57.00. Due to strong demand and pricing, Macquarie has lifted its forecasts for a number of key commodities that BHP produces. It feels this leaves the company well-placed to reward shareholders with generous dividends in FY 2021 and FY 2022. The BHP share price is trading at $45.61 this afternoon.

    Westpac Banking Corp (ASX: WBC)

    Analysts at Morgan Stanley have retained their overweight rating and lifted their price target on this banking giant’s shares to $27.20. According to the note, Westpac is Morgan Stanley’s favourite among the big four banks. It believes Australia’s oldest bank is well-positioned to buy back shares in FY 2022 due to its strong capital position. In addition to this, the broker believes Westpac can reduce its costs meaningfully, underpinning higher quality earnings and supporting its dividend payments. The Westpac share price is fetching $24.34 on Monday afternoon.

    Xero Limited (ASX: XRO)

    Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted their price target on this cloud-based business and accounting platform provider’s shares to $140.00. According to the note, the broker believes the recent weakness in the Xero share price has created a buying opportunity for investors. It feels the risk/reward on offer is attractive and remains bullish on its long term growth prospects. Particularly given its recent acquisitions of Planday and Tickstar. The Xero share price is trading at $122.31 today.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. 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.

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

    from The Motley Fool Australia https://ift.tt/3fnh41h

  • NRW (ASX:NWH) share price sinks despite new contract win

    falling asx share price represented by sad looking builder

    The NRW Holdings Limited (ASX: NWH) share price is on the slide today despite the company announcing a new contract award and an extended agreement. In early-afternoon trade, the diversified service provider’s shares are swapping hands for $2.05, down 0.49%.

    Contract award

    The NRW share price is failing to hold onto earlier gains after the company released two positive updates this morning.

    In the first of its releases, NRW advised that its wholly-owned subsidiary, Golding Contractors, has been awarded a civil works contract. The award was provided by ASX-listed real estate and investment group Lendlease Group (ASX: LLC).

    Under the agreement, Golding Contractors will complete general subdivision and related infrastructure works at the Yarrabilba residential estate in Logan, Queensland.

    NRW highlighted that the contract win extends its relationship with Lendlease, which began in October 2017.

    The civil works project is expected to generate around $50 million in revenue for NRW. Works are scheduled to commence next month and be completed within the next three years.

    Extended contract

    In a second announcement today, NRW revealed that Golding Contractors has received a 12-month contract extension from Wonbindi Coal. The renewed deal will see Golding Contractors continue its works at the Baralaba North Mine.

    The new award will add roughly $120 million in extra revenue for Golding Contractors, up until June 2022.

    About the NRW share price

    NRW Holdings is an Australian company that provides diversified services to the resources, civil infrastructure, and urban development sectors.

    The company has a workforce of more than 7,000 people with 100 active projects. Extensive operations are located in Western Australia, Queensland, South Australia, New South Wales and Victoria.

    The NRW share price has climbed more than 70% over the past 12 months, but is down by around 30% year to date. The company’s shares reached a high of $3.19 earlier this year, before trending lower.

    Based on valuation grounds, NRW has a market capitalisation of around $949.2 million, with approximately 456.3 million shares outstanding.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    Motley Fool contributor Aaron Teboneras 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.

    The post NRW (ASX:NWH) share price sinks despite new contract win appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/3rxFp6O

  • Why the Nine (ASX:NEC) share price is falling today

    cybersecurity shares represented by octopus reaching out of computer screen towards woman

    The Nine Entertainment Co. Holdings Ltd (ASX: NEC) share price is trading lower today after the broadcaster was hacked over the weekend. Channel Nine confirmed the cyber-attack interrupted live broadcasts on Sunday morning, with afternoon news programs also affected.

    At the time of writing, the Nine share price has slumped 2.4% to $2.85.

    Let’s look further into the hack.

    Back to basics

    The cyber-attack was confirmed by Channel Nine yesterday, after its Sunday morning news program, Weekend Today, was unable to go to air.

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

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

    Nine News described the attack as sophisticated and calculated. It stated that television and digital production systems, as well as 9news.com.au were all affected.

    Nine News also reported that it is working with the Australian Cyber Security Centre after it offered the broadcaster assistance.

    According to a report by the Nine-owned Australian Financial Review, the attack was carried out by ransomware. But with no demands having been placed, the reason for the attack is unclear.

    The cyber-attack on the broadcaster’s technical system sent news programs back to the dark ages. Presenters shared images to Twitter of them replacing teleprompters with whiteboards.

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

    According to a report from ABC News, Nine wasn’t the only institution to suffer suspicious technical issues over the weekend. The Australian Federal Parliament also allegedly suffered from a major IT disruption, leaving many parliamentarians without access to email.

    Nine share price snapshot

    Nine Entertainment shares have been having a party on the ASX lately, with lots of good news boosting the company’s share price. On 2 March, the Nine share price reached its highest closing price of all time, finishing the day at $3.07.

    Ten days later, the company entered into a regional television affiliation agreement with the WIN Corporation. Most recently, Nine shared the news it had signed a letter of intent with social media giant Facebook.

    While the Nine share price is lower today following the weekend’s cyber-attack, it is still up by around 24% year to date. It is also up a whopping 175% over the last 12 months.

    The broadcasting giant has a market capitalisation of $4.98 billion, with approximately 1.7 billion shares outstanding.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Facebook and Twitter. The Motley Fool Australia has recommended Facebook. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

    The post Why the Nine (ASX:NEC) share price is falling today appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/3fmd7Kd

  • What’s happening with ASX lithium shares as battery-grade lithium prices push higher?

    Cut outs of cogs and machinery with chemical symbol for lithium

    ASX lithium shares, including Galaxy Resources Limited (ASX: GXY), Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE), have continued to grind sideways despite higher lithium prices. 

    Latest lithium price update 

    Fastmarkets provides updates for battery-grade lithium prices across China, Europe and the US. The latest update highlights: 

    • Asian seaborne lithium prices were steady against a backdrop of tight availability and firm demand; meanwhile Chinese suppliers have made aggressive offers for battery-grade lithium carbonate.
    • Spot trades in domestic Chinese market remained slow with consumers conducting “hand-to-mouth” purchases, but supply continued to be tight.
    • Europe, US battery-grade lithium spot prices continued to trend higher with deals reported at higher levels.

    It notes that domestic lithium carbonate prices in China have increased to 87,500 yuan/tonne (~A$17,500) up from 70,750 yuan/tonne (~A$14,160) last month. 

    Why have ASX lithium shares gone nowhere in 2021? 

    ASX lithium shares have largely retreated back to where they were at the start of 2021.

    It is worth noting that shares in the resource have more than doubled in the last 6 to 12 months. It’s possible that such price movements may have already been priced into the near-term bullish moves in spot prices.  

    Despite their share prices going nowhere lately, ASX lithium shares have demonstrated significantly improved financial results and ramping up production to take advantage of improved prices. 

    Pilbara Minerals, for example, reported a December half-year earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.7 million compared to the EBITDA loss of $24.1 million in the prior corresponding period. 

    Similarly, Galaxy Resources is ramping up product at its flagship Mt Cattlin mine. Its production was previously lowered to ~60% of nameplate capacity to adapt to soft market conditions for most of FY20.

    The mine is now positioned to ramp up production in response to strong customer demand, improving prices and reduced inventory levels. The company’s loss after tax for the December half also improved to US$31.3 million compared to the US$283.7 million in the pcp. 

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    Motley Fool contributor Kerry Sun 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.

    The post What’s happening with ASX lithium shares as battery-grade lithium prices push higher? appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/39lsAWY

  • Why the St Barbara (ASX:SBM) share price is climbing

    mining asx shares represented by miner writing report on clipboard

    The St Barbara Ltd (ASX: SBM) share price has jumped 1% this morning as ASX resources shares rebound strongly and the gold miner withdrew from a joint venture (JV).

    Why is the St Barbara share price on the move?

    Advanced gold and copper explorer, Alice Queen Ltd (ASX: AQC), advised this morning that St Barbara was withdrawing from the Horn Island JV. St Barbara entered into the JV in 2019 to explore areas outside of Alice Queen’s existing Horn Island Inferred Resource.

    Alice Queen said it was “disappointed” by the withdrawal and election to not pursue further exploration expenditure under the JV. The smaller JV partner will continue pursuing exploration including a scoping study to bring Horn Island to production as soon as possible.

    Under the terms of the JV, Alice Queen will retain all of the information generated by St Barbara’s ~$2.6 million expenditure so far.

    The St Barbara share price has climbed in early trade following the update alongside many ASX resources shares. 

    How has St Barbara been performing?

    Prior to this morning, the St Barbara share price had slumped 17.8% lower in 2021 to Friday’s close. That comes amid a broader softening in gold prices as investors have pulled back on bearish views.

    Record government stimulus and a rising US dollar have buoyed investor spirits and turned many away from the safe haven asset of gold.

    That has put ASX gold shares like St Barbara under pressure to start the year. The Northern Star Resources Ltd (ASX: NST) share price has slumped 23.3% while Newcrest Mining Ltd (ASX: NCM) shares are down 7.7% in 2021.

    What’s happening on the ASX this morning?

    The S&P/ASX 200 Index (ASX: XJO) has climbed 0.4% at the open following strong stimulus signed off by the Biden administration.

    Early gainers include BHP Group Ltd (ASX: BHP) and Lynas Rare Earths Ltd (ASX: LYC), which are up 2% at the time of writing. The A2 Milk Company Ltd (ASX: A2M) is among this morning’s fallers, down 0.6% at the open.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

    The post Why the St Barbara (ASX:SBM) share price is climbing appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/3diyWHM

  • Why is the Boss Energy (ASX:BOE) share price sinking 6% today?

    down arrow chart

    The Boss Energy Ltd (ASX: BOE) share price is sinking in morning trade, down 6.45% at 14 cents.

    Boss Energy emerged from a trading halt this morning after entering the pause of trade on Thursday.

    Below we take a look at the ASX resource share’s latest announcement on its uranium inventories.

    What did Boss Energy report on its uranium inventory?

    The Boss Energy share price is falling this morning after the company reported it had completed a $60 million capital raising at 14 cents per share. Boss Energy shares closed on the last trading day (Wednesday 24 March) at 16 cents per share.

    The company will use the funds to acquire 1.25 million pounds (568,000 kilograms) of U-3 O-8 on the uranium spot market at US$30.15 (AU$39.67) per pound. The uranium is warehoused at the ConverDyn Facility in Metropolis, Illinois and will remain stored there following the deal’s completion.

    Boss Energy said it would acquire 0.25 million pounds of uranium by the end of April, with the other 1 million pounds acquired by the end of June. The company plans to use the remaining funds from the capital raise to cover uranium storage costs and for general working capital.

    Why the stockpile?

    Citing tight supply amid strong demand for uranium and the potential for further future price rises, Boss said its increased stockpiles represented a “clear strategic value and upside” for its shareholders. Boss also reported the acquisition puts it in a better financial position for its planned re-start of the Honeymoon Uranium Project.

    Commenting on the uranium stockpile increase, Boss Energy’s Managing Director Duncan Craib said:

    We have been able to create this unique opportunity thanks to our highly experienced and well-connected operatives in the global uranium market. The stockpile will be highly valuable to us on several levels as we secure offtake agreements, finalise project funding and move into production.

    Boss Energy share price snapshot

    Despite today’s fall, Boss Energy shares are up 263% over the past 12 months. By comparison, the All Ordinaries Index (ASX: XAO) is up 36% in that same time.

    So far in 2021, the Boss Energy share price is up 45%.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    Motley Fool contributor Bernd Struben 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.

    The post Why is the Boss Energy (ASX:BOE) share price sinking 6% today? appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/3m7q5wL

  • What’s with the AGL Energy (ASX:AGL) share price today?

    asx share price fall represented by investor looking puzzled at computer screen

    The AGL Energy Limited (ASX: AGL) share price is edging lower in intraday trade, down 0.97%.

    Below we take a look at the S&P/ASX 200 Index (ASX: XJO) energy company’s latest announcement relating to its renewable energy ambitions.

    Renewable energy goals

    The AGL Energy share price is largely unmoved this morning after the company reported it has entered into an agreement with the United Kingdom’s Ovo Energy Ltd.

    Australia’s largest energy retailer and generator said the agreement with the leading “zero carbon living brand” will help it bring the latest digital services to customers Down Under.

    Those digital services come courtesy of OVO’s Kaluza system, an AI-enabled platform designed to improve customer experience and offer energy flexibility in an age of ever-increasing renewable energy use.

    With some of the highest levels of rooftop solar power generation on Earth, AGL reports Kaluza can help with grid stability as more and more energy supply comes from decentralised sources. Using its AI systems, Kaluza can move device charging to times when there is less energy demand.

    The company stated that, “Kaluza orchestrates the charging of electric vehicles, energy storage systems and other flexible home devices to enable the shift to a low-carbon energy future.”

    As part of the agreement, AGL will invest in OVO Energy Australia to adapt the Kaluza platform for Australia.

    Commenting on the agreement, Brett Redman, AGL CEO, said:

    Through this joint venture, OVO and AGL will bring world-class technology and innovation to Australia. Central to the market forces that shape our strategy, is customer demand. This collaboration will help us ensure our customers have choice and flexibility when it comes to their essential services.

    AGL has been evolving our offerings, with carbon-neutral, multi-product options and decentralised energy solutions and this will allow us to continue into the future.

    Stephen Fitzpatrick, CEO of OVO added, “Companies must now focus on building trust with their customers, harnessing technology that makes zero carbon living simple and affordable for everyone.”

    AGL Energy share price snapshot

    It’s been a tough year for AGL shareholders, with shares down by nearly 40% over the past 12 months. By comparison, the ASX 200 is up 32% over that same time.

    Year to date the AGL share price is down by around 15%. AGL pays an 8% dividend yield, unfranked.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    Motley Fool contributor Bernd Struben 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.

    The post What’s with the AGL Energy (ASX:AGL) share price today? appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/3w6yIw1

  • Why top brokers want you to buy the embattled IAG (ASX:IAG) share price

    IAG share price broker upgrade buy

    The Insurance Australia Group Ltd (ASX: IAG) share price has been put through the wringer, but this could be the time to buy the beaten down shares.

    The devastating floods hitting parts of New South Wales and Queensland, and worries about the insurer’s exposure to the collapse of Greensill Capital are some its recent challenges.

    Insurance Australia Goup share price lags

    The Insurance Australia Group share price crashed by nearly 17% over the past year when the S&P/ASX 200 Index (Index:^AXJO) surged by over 40%.

    In contrast, other general insurers are also faring better than the Insurance Australia Group share price. The QBE Insurance Group Ltd (ASX: QBE) share price and Suncorp Group Ltd (ASX: SUN) share price are up about 20% each over the same period.

    Is it time to buy the downtrodden IAG share price?

    Several brokers think this is the time to buy the out of favour Insurance Australia Group share price.

    Insurance Australia Group assured investors it has no liabilities relating to Greensill and has quantified its exposure to the NSW floods.

    Management said it received 8,000 claims from the heavy storms that started on 16 March. But Morgans believes financial impact is “relatively contained” and the risk is smaller than its potential exposure to business insurance claims from COVID-19.

    Broker upgrade on valuation

    But even that isn’t enough to dissuade Morgans from upgrading the Insurance Australia Group share price to “add” from “hold”.

    “IAG has had a difficult recent run, mainly tied to concerns around BI claims linked to COVID-19,” said Morgans.

    “However, we think substantial recent provisions raised in this area have taken this issue off the table and we think insurance margins will improve going forward on price increases and managements’ new strategy.”

    The broker’s 12-month price target on the IAG share price is $5.35 a share.

    Other experts think IAG is a “buy”

    Meanwhile, Citigroup and UBS reiterated their “buy” recommendations on Insurance Australia Group.

    Citi acknowledged management will need time to restore its credibility even though the investment case looks sound.

    “IAG is now set to exceed its FY21E perils allowance following recent floods and storms,” said Citi.

    “However, at this stage the overrun looks set to be only modest. The impact on EPS should also be partly mitigated by RACV’s share of the losses.”

    UBS also believes the stock is looking oversold in light of the recent headwinds, although the downside risks to IAG’s FY21 earnings has increased.

    Citi’s 12-month price target on Insurance Australia Group is $5.60 a share, while UBS’s target is $6 a share.

    Where to invest $1,000 right now

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    *Returns as of February 15th 2021

    More reading

    Motley Fool contributor Brendon Lau 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.

    The post Why top brokers want you to buy the embattled IAG (ASX:IAG) share price appeared first on The Motley Fool Australia.

    from The Motley Fool Australia https://ift.tt/2PGiBVd