Tag: Motley Fool

Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

For a fourth week in a row, this buy now pay later (BNPL) provider’s shares were the most traded on the CommSec platform. Zip shares accounted for 3.7% of trades last week, with approximately 60% coming from the buy side. Unfortunately, this wasn’t enough to stop the Zip share price losing 8% of its value over the five days. This was driven by weakness in the tech sector due to rising bond yields.

Afterpay Ltd (ASX: APT)

Afterpay was the next most traded share and attributable to 2.2% of total trades on the CommSec platform. Approximately 61% of these trades came from buyers. But as with Zip, this couldn’t stop the Afterpay share price from falling 3.5% last week. Once again, weakness in the tech sector appears to have weighed on its shares.

Betashares Nasdaq 100 ETF (ASX: NDQ)

This exchange traded fund (ETF) was popular with investors once again. It accounted for 2% of trades on CommSec over the five days. A whopping 88% of these trades came from buyers. They may have been looking to take advantage of a recent pullback by the Nasdaq 100. The ETF fell 1% during the week.

IOUpay Ltd (ASX: IOU)

A new addition to the top five this week is Malaysia-based BNPL provider IOUpay. Its shares were responsible for 1.9% of trades on CommSec during the week. And while two-thirds came from buyers, the buying wasn’t strong enough to stop the IOUpay share price falling 10% over the five days. Last week IOUpay announced a partnership with leading online payment gateway, iPay88. The agreement will see the company provide BNPL services to iPay88 customers.

CSL Limited (ASX: CSL)

CSL shares were back in the top five after accounting for 1.4% of trades last week. And as with the others, although 79% of trades came from the buy side, it wasn’t enough to stop the CSL share price sliding 5% lower. Part of this decline was due to CSL’s shares trading ex-dividend for its interim dividend. That will now be paid to eligible shareholders on 1 April.

More reading

• Credit Suisse just rated the Afterpay (ASX:APT) share price as ‘outperform’
• Why Adairs, Afterpay, IAG, & Livetiles shares are sinking
• ASX 200 up 0.7%: Vocus jumps on takeover update, Afterpay crashes 9%
• The tech-heavy Nasdaq is now in a correction!
• Why the Afterpay (ASX:APT) and Zip (ASX:Z1P) share prices are under pressure again

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO, BETANASDAQ ETF UNITS, CSL Ltd., and ZIPCOLTD FPO. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS. 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 Duratec Ltd (ASX: DUR) share price is on the rise after the company announced it has executed a letter of intent for a $63 million contract.

If successful, the engineering, construction, and remediation company will begin preliminary works to refurbish the façade of a high-rise in Perth’s CBD. Specifics as to which high-rise are yet to be made public.

The Duratec share price is currently sitting at 52 cents, up more than 10% from yesterday’s closing price of 47 cents.

More about the $63 million contract

Up for grabs is the contract to re-clad and enhance the façade of a significant Perth high-rise building.

Duratec is in final contract negotiations with the owners of the building, Perron Investments and APF Management (acquired by Frasers Logistics & Commercial Asset Management).

Finalising of the contract is now conditional upon the issuing of a Certified Building Permit and final negotiations of terms and conditions.   

Once granted the contract, Duratec will begin the construction phase of the refurbishment. The works are expected to take 165 weeks to complete.

Management commentary

Managing Director of Duratec Phil Harcout congratulated Duratec’s Building and Façade Team on its professionality throughout negotiations.

This is a significant announcement for Duratec as we continue to execute on our national specialist façade strategy.

This is an excellent example of the success of Duratec’s ECI business model meeting the needs and expectations of clients via transparency, consultation and provision of budget and programme certainty. We look forward to delivery of this project safely, on-time and to an outstanding standard of finish.

He added:

To date Duratec has successfully completed replacement of combustible cladding on buildings in NSW, Victoria and WA and we see this market sector is undergoing considerable growth, of which, we are well placed to capture a significant market share.

Duratec share price snapshot

Duratec has lost 13% of its value since it was first listed on the ASX in November 2020. It’s currently down 19% year to date.

After today’s rise of 10%, Duratec’s share price is 52 cents apiece. It has a market capitalisation of $112.79 million with approximately 237 million shares outstanding.

More reading

• Goldman Sachs CEO: GameStop share price and the Reddit phenomenon
• Where next for the A2 Milk (ASX:A2M) share price?
• ASX stock of the day: Aquis Entertainment (ASX:AQS) explodes 48% higher
• How does China really feel about Australian iron ore and coal?
• Splitit (ASX:SPT) share price sinks as trade volumes bounce

Brooke Cooper 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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This morning’s Business Summit hosted by the Australian Financial Review certainly provided plenty of interesting commentary on the economy, financial markets, politics, and more.

Goldman Sachs CEO David Solomon joined the panel of speakers and spoke on a range of topical subjects. In particular, Solomon discussed the surge in retail participation in the stock market, which has led to occurrences such as the obscene fluctuations in the GameStop Corp (NYSE: GME) share price.

Digitisation catches regulators off guard

Soloman mentioned the prominence of retail traders thanks to the innovation in trading platforms. Low and no fee app-based brokers like Stake and Robinhood have aided in providing a cheap and easy means for transacting in the share market. However, Solomon stated that this is forcing legislators and regulators to catch up.

He admitted that a high involvement of retail investors has occurred numerous times over the years, although the velocity and scale were amplified drastically this time around. Solomon commented:

The pace of digitisation is outstripping the pace of… rule making and regulatory structure. There’ll be a lot of discussion about what aspects of this are good, and what aspects of this need some, some moderation I think that’ll be a healthy discussion.

The comments come at an interesting time, as the GameStop share price rockets ahead overnight. As a result, the Reddit-driven share has rallied 320% in roughly a week, with continuing short-selling pressure.

Solomon further stated, “Whether that participation is a good thing or a bad thing, whether people are going to make money on a sustainable basis and protect their wealth, we’ll see.”

GameStop share price flying high

GameStop’s recent rally comes after news that the Chewy.com founder Ryan Cohen will spearhead an e-commerce strategy. Ryan joined the GameStop board back in January, before the skyrocketing run in the company’s share price.

As reported by MarketWatch, the US Senate Banking Committee will hold another hearing tonight to discuss the GameStop theatrics. Specifically, Robinhood and other zero-commission brokers will be in focus.

More reading

• Subreddit ASX Bets is gambling these 4 ASX shares will follow in GameStop’s footsteps
• The risky nature of Robinhood style day trading revealed
• Is Reddit’s GameStop (NYSE:GME) crowd targeting Asian shares?
• Why GameStop (NYSE:GME) stock soared another 18% today
• Robinhood fires back at Berkshire Hathaway’s Charlie Munger over criticism

Motley Fool contributor Mitchell Lawler 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 A2 Milk Company Ltd (ASX: A2M) share price has been well and truly out of form over the last 12 months.

During this time, the infant formula company’s shares have lost 42% of their value.

Why is the a2 Milk share price underperforming?

The a2 Milk share price has come under significant pressure over the last 12 months due to significant weakness in the daigou channel.

In addition, management’s failure to ascertain just how long this weakness would go on for has also weighed on its shares. This has led to the company downgrading its guidance for FY 2021 on two occasions.

Is this a buying opportunity?

Analysts at Goldman Sachs aren’t sure that now is the time to invest and have just held firm with their neutral rating and $10.30 price target.

Commenting on its recent half year results, Goldman said: “Although management’s guidance revision from Dec 2020 included a weaker CBEC channel, the decline was well ahead of GSe at -35.5%. EBITDA margins were impacted adversely by the mix impact from higher sales of lower margin China label products. Guidance for FY21 has been revised down by c. A$28-85.5mn at the top and bottom end of the prior range respectively on EBITDA.”

What could get the a2 Milk share price heading higher?

Goldman notes that there is upside risk if a2 Milk experiences a quicker than expected recovery in the daigou channel.

It also suspects that the company’s new CEO could provide a strategy update before the end of the financial year. If the market likes what it sees, it feels its shares could start rising.

Goldman explained: “Given his range of experience and capabilities, we believe incoming CEO, David Bortolussi, has the potential to make a material contribution to A2M’s strategic execution and, potentially, longer term performance. However, the strategic redirection is unlikely to be revealed until the new CEO has had some time in the role. We anticipate a strategy update at some stage in 4Q21, which could present as a catalyst for the stock.”

For now, though, Goldman appears to expect the a2 Milk share price to trade around its current level until the next catalyst appears. Hopefully for shareholders, this time it will be a positive one.

More reading

• Here’s why you should think twice about chasing the next hot ASX trend
• International Women’s Day: Which ASX companies are fighting gender inequality?
• Top brokers name 3 ASX shares to buy next week
• Synlait (ASX:SM1) share price crashes 7% on cancelled guidance
• ASX 200 slides lower, A2 Milk surges, Gold Road sinks

Motley Fool contributor James Mickleboro 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.

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The Aquis Entertainment Ltd (ASX: AQS) share price has exploded today, up 48.89% at the time of writing to 34 cents a share. Aquis shares closed at 23 cents each yesterday, but opened at 24 cents this morning before rocketing as high as 49 cents (up 65%) just after open.

Today’s move caps off what has been a wild ride for Aquis over 2021 so far. Aquis is a company that, until 2021, had been drifting in relative obscurity for years. Between mid-2015 and the end of last year, the company had slowly lost around 80% of its value. Last year, Aquis even touched the depressingly low share price of less than half a cent.

But 2021 has seen a dramatic reversal of fortune for this company. After starting the year at 4 cents a share, Aquis rocketed by almost 2,000% between 16 and 25 February, when it reached a new all-time high of 82 cents a share. The difference between this company’s 52-week low and 52-week high is an astonishing 27,233% The share price has subsequently slid from those highs, but remains well above where it was just two months ago.

So what is going on with Aquis?

Who is Aquis Entertainment?

Aquis is a gaming company (meaning gambling and casinos, not Monopoly) whose flagship asset is Casino Canberra, the only licensed casino in the Australian Capital Territory. Beyond this, the company also states that it is “actively looking to grow its Australian operations”. Casino Canberra offers everything you would expect from a casino, including entertainment, bars and restaurants, accommodation and (naturally) gambling facilities.

Aquis also has a $307 million redevelopment proposal for Casino Canberra in its pipeline. This would expand the casino with luxury six-star villas, international-standard VIP offerings, more bars and nightclubs, and even a luxury shopping mall.

What’s been causing the Aquis share price volatility?

This is one of the strangest movements that has occurred on the ASX this year so far, I’d wager. There is nothing that can be fully verified to have caused this massive re-valuation of Aquis Entertainment. Between 29 January and 18 February, the company delivered one announcement to the markets. That was a quarterly report on 29 January. Aquis’ next announcement was a pause on trading on 18 February after an ASX query into the massive price movements that occurred in the days prior.

In response to this ASX ‘speeding ticket’, Aquis only had this to say: “The Company is not aware of any information concerning it that has not been announced to market and which could be an explanation for the recent trading in the Company’s securities”.

Even more mystifying is that these moves keep happening with no obvious catalyst. Just look at today. Aquis shares are up almost 50%. Yet the last major announcement from the company was 2 weeks ago (some financial statements). Looking at ASX trading volume data, we can see that today brought a massive surge in trades. Yesterday, approximately 453,000 Aquis Entertainment shares swapped hands. Today, the number is 2.9 million (and we’re still a couple of hours away from market close).

Whatever is going on here, it remains a mystery. But if you love ASX drama, make sure to keep watching this company! At the current Aquis share price, the company has a rough market capitalisation of $62 million.

More reading

• The Aquis Entertainment (ASX:AQS) share price is now up 1,000% in a week
• Aquis Entertainment (ASX:AQS) share price boosts 365% in second day of triple-digit gains

Motley Fool contributor Sebastian Bowen 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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With iron ore continuing to float the economy, the question of how China truly feels about Australian coal is stealing headlines.

The Australian reports today that the nation’s total exports to China have broken a new record. This implies that China isn’t all that mad given it is still spending its money here.

Meanwhile, the Australian Financial Review poses the question of whether or not the China coal ban is permanent and what that means for the economy.

So what’s actually going on? What does China really think about Australian coal?

Iron ore exports undermine Beijing’s ban 

According to The Australian, the total value of Australia’s exports to China rose 8.2% in January and February 2021. Iron ore led the pack.

China imported $26.6 billion worth of exports from Australia in the first two months of the year. This beats the last record set by the first two months of 2020 when exports pulled in $24.5 billion.

The article notes that the “elevated price of iron ore and liquefied natural gas — Australia’s two biggest exports to China — more than compensated for crippling strikes on wine, lobster, timber, barley, beef and even coal, Australia’s third biggest export to China.”

Is it a trade war if you spend $148 billion?

In 2020, Australian exports to China reached the second-highest level in history, totalling $148 billion. 

The AFR report draws attention to the coal that China is still buying regardless of the “trade war”.

According to the AFR, China likes to buy intermediate quality coal from Australia, and companies like BHP Group Ltd (ASX: BHP) are happy to sell it to them.

Coal quality is defined by kilocalories, which determine the efficiency of the energy created as well as the emissions that are produced — 5500 kilocalorie coal and up is considered high quality.

However, Yancoal Australia Ltd (ASX: YAL) CEO David Moult comments in the AFR that being able to accommodate different grades of coal is a strategic business move. He believes Australia is lucky to be one of the only producers that can offer a spectrum of grades.

Foolish takeaway

Fools say that there are two sides to every story and then the truth. Iron ore is not going out of style in Australia any time soon.

While geopolitical sagas will continue to rattle headlines, businesses find a way to adjust to changing environments. Although we hear a lot about a trade war with China, the amounts being traded seem to tell a different story. At least for today.

More reading

• ASX 200 Weekly Wrap: ASX finishes higher, despite tech selloff
• Morgan Stanley reveals some investment trends to watch in 2021
• 5 things to watch on the ASX 200 on Thursday
• These ASX 200 shares are trading at near 52-week highs
• ASX shares on watch: Chinese investment in Australia has dropped 61%

Motley Fool contributor Gretchen Kennedy 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 Splitit Ltd (ASX: SPT) share price has dropped 3.85% at the time of writing and is currently trading at $1.00 a share.

The Splitit five-day average volume of 2.5 million has been exceeded three out of the past five days. Today’s trade volume currently sits at around 2 million shares.

Let’s take a look at some recent happenings to consider what might be moving the Splitit share price and why it’s being so heavily traded.

Why is the Splitit share price lower today?

The Wall Street Journal notes that the Nasdaq Composite Index is about to enter correction territory resulting in a slump for tech stocks.

The Splitit share price is dipping along with its big siblings Netflix Inc (NASDAQ: NFLX) and Facebook, Inc. (NASDAQ: FB) which lost 4.47% and 3.39%, respectively, in yesterday’s trade.

The WSJ points out that the Nasdaq has declined for 3 consecutive weeks losing more than 2% last week. This is likely because investors are betting that growth will slow in the tech space as the coronavirus gradually winds down.

What’s on the horizon for Splitit?

Reflecting on the achievements of 2020, Splitit CEO Brad Paterson said:

“Splitit delivered a breakout year with record financial and operational results in FY20, despite a globally challenging year due to the COVID-19 pandemic…

With financial empowerment and responsibility core to our values, 2020 was a year we refreshed our brand and visual identity that positions Splitit as the only buy-now-pay-later solution to empower shoppers to use their existing credit to pay over time…”

In the latest financial performance report Splitit advised that the company is well funded with plans to continue its “strong growth trajectory”.

As of 31 December FY20, the company held US$92.8 million in cash.

Splitit snapshot

At the current share price, Splitit has a market capitalisation of $486.4 million. There are presently 456.7 million shares outstanding.

Over the past year, the Splitit share price has jumped 123.6%.

More reading

• ASX 200 sinks 2.4%, Afterpay plunges, AMP jumps
• Splitit (ASX:SPT) share price tumbles despite quadrupling its revenue
• The IOUpay (ASX:IOU) share price is skyrocketing 30% today
• Why the QuickFee (ASX:QFE) share price is falling 8% lower today
• Why is the Splitit (ASX:SPT) share price underperforming Afterpay and Zip?

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. Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Facebook and Netflix. The Motley Fool Australia has recommended Facebook and Netflix. 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 De Grey Mining Ltd (ASX: DEG) share price had its ‘Eureka, I found gold!’ moment in 2020 after a series of positive announcements for its Mallina Gold Project in Western Australia. This led to its share price surging as high as 3,000% from 6 cents to $1.60. 

Today, the company announced new results at its Mallina Gold Project in an area called Hemi. 

De Grey share price down despite continued gold discovery

De Grey reports two new discoveries named Diucon and Eagle. The gold mineralisation shows similar alteration and sulphide development at its adjacent Hemi deposits of Aquila, Brolga, Crow and Falcon. The company has left these zones open and believes it has the potential to rapidly and cost-effectively increase Hemi’s gold endowment with continued drilling. 

De Grey Managing Director, Glenn Dardine commented on the results: 

“The discovery and growth profiles of Diucon and Eagle are good examples, along with Falcon, of the potential for the Company to continue to rapidly increase gold endowment at Hemi. Falcon was discovered in September 2020 and has also grown substantially. The Diucon and Eagle discoveries were announced in January this year after positive results in initial wide spaced RC drilling. Additional RC drilling has now rapidly expanded the mineralised footprints at both zones which both remain open.”

Dardine went on to comment that extensional drilling is continuing at Diucon and Eagle, and that drilling for new discoveries is underway in the Greater Hemi area. 

The bigger picture 

Ultimately, the company plans to complete and evaluate early-stage project de-risking studies to pursue a strategy to develop itself as a Tier 1 Gold Project. This is defined as a project producing a minimum of 300,000 ounces per year with a minimum mine life of 10 years.

To add some perspective, Ramelius Resources Limited (ASX: RMS) produced 230,426 ounces of gold in FY20 with a market capitalisation of approximately $1.1 billion. 

While De Grey is still a gold explorer with a similar market cap, the company could possess significant potential and reserve upside should things go to plan. 

Gold prices holding miners back 

Gold prices have been far from inspiring for ASX gold miners, slumping from highs of US$2075 to US$1,683 at the time of writing. The strong Australian dollar is another factor that is likely to curb the revenue gold miners receive. This has dragged ASX gold mining shares prices across the board.

The De Grey share price is currently trading 1.7% lower at 86 cents per share. 

More reading

• How does China really feel about Australian iron ore and coal?
• Splitit (ASX:SPT) share price sinks as trade volumes bounce
• Credit Suisse just rated the Afterpay (ASX:APT) share price as ‘outperform’
• Leading brokers name 3 ASX shares to sell today
• Why the Food Revolution (ASX:FOD) share price rocketed 26% today

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.

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It might be an awkward time to initiate coverage for the Afterpay Ltd (ASX: APT) share price as tech shares across the board are being sold down.

However, Credit Suisse has done just that today, initiating coverage of the Afterpay share price with an outperform rating. Perhaps this is the positivity the stock needs to stop freefalling. 

The Afterpay share price takes a dive 

The Afterpay share price is once again under relentless selling pressure today. Its shares are down 8.40% at the time of writing, dragging its year-to-date returns to a surprising -13%. 

Much of the weakness in the Afterpay share price is driven by factors outside the company’s control. Rising bond yields has been an overarching factor that has severely impacted ASX 200 tech shares in recent weeks. 

Credit Suisse rates Afterpay as an ‘outperform’ 

Credit Suisse is bullish on Afterpay shares with its analysts expecting Afterpay sales to potentially increase almost six-fold from FY20 levels over the next five years. In FY20, the company delivered underlying sales of $11.1 billion, implying a potential $66 billion sales by FY25. 

While other brokers may have pointed to risks and challenges for buy now pay later players including increasing competition, fund risks and a reduction in e-commerce sales post-COVID, Credit Suisse takes a more optimistic view for the industry. 

The broker points to structural growth for the BNPL industry as a result of higher e-commerce penetration and the shift away from credit cards. It also points to the emerging millennial and Gen Z population whose retail spending power is expected to rise strongly in the coming years. 

Credit Suisse believes Afterpay is poised to gain a higher share of total payments given its position as a leading BNPL player. It also points to Afterpay’s value proposition as being something more than just a payment provider. 

The coverage provided a target price of $124.00, which would represent an upside of ~20% compared to today’s prices. However, it is important to keep in mind that factors such as rising yields could continue to drag the tech sector and the Afterpay share price along with it. 

Afterpay being more than just credit 

Afterpay has a number of exciting plans for FY21. Besides its planned expansion into Europe and continued growth in the US, the company has announced a new app that could branch out existing revenues and products. 

Afterpay Money is a new stand-alone app built to help Australians manage their money. This app comes with classic banking features including a savings account and linked debit account. Users can have a salary paid into the account and add savings goals to better manage their money. While this is an app powered by Afterpay, the deposits will show up in the Westpac Banking Corp (ASX: WBC) balance sheet as part of its partnership. 

More reading

• Why Adairs, Afterpay, IAG, & Livetiles shares are sinking
• ASX 200 up 0.7%: Vocus jumps on takeover update, Afterpay crashes 9%
• The tech-heavy Nasdaq is now in a correction!
• Why the Afterpay (ASX:APT) and Zip (ASX:Z1P) share prices are under pressure again
• Why ASX 200 tech shares could be in for another wild session

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. 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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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Cochlear Limited (ASX: COH)

According to a note out of UBS, its analysts have retained their sell rating and $185.00 price target on this hearing solutions company’s shares. The broker acknowledges that clinics have adapted to the pandemic and expects the loss of deferred surgeries to be minimal. Furthermore, thanks to a recall from a key competitor, it believes Cochlear is winning market share. However, it still feels its shares are expensive and thus sees no reason to change its rating any time soon. The Cochlear share price is fetching $203.81 this afternoon.

Oil Search Ltd (ASX: OSH)

A note out of Macquarie reveals that its analysts have retained their underperform rating but lifted the price target on this energy producer’s shares to $4.10. According to the note, the broker has lifted its estimates to reflect higher oil prices thanks to OPEC holding firm with its production cuts. But it isn’t enough for the broker to become positive on Oil Search. It still doesn’t see value in its shares at the current level. The Oil Search share price is trading at $4.51 on Tuesday.

Virtus Health Ltd (ASX: VRT)

Analysts at Morgan Stanley have retained their underweight rating and lifted the price target on this fertility treatment company’s shares to $5.05. According to the note, the broker has been pleased with the strength of the IVF market, noting that Virtus Health reported strong fresh cycle growth during the first half. However, it appears concerned that government stimulus is propping this up and is waiting to see what happens when it stops. The Virtus Health share price is trading at $5.89 this afternoon.

More reading

• ASX energy shares are booming as OPEC cuts production
• 5 things to watch on the ASX 200 on Friday
• What’s up with the oil price right now?
• 2 strong ASX healthcare shares to buy this month
• Oil back to $100 per barrel? ASX energy shares could rocket

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. and Virtus Health 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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