Tag: Stock pick

Sentiment can shift quickly in the share market, so it can always be worth staying up to date with what brokers are saying about ASX 200 shares.

With that in mind, let’s look at a number of ASX 200 shares that have been upgraded this week. Here’s what’s happening:

Codan Ltd (ASX: CDA)

The team at Macquarie has upgraded this metal detector manufacturer’s shares to an outperform rating with an increased price target of $44.20. Based on its current share price of $39.67, this implies potential upside of approximately 11.5% for investors.

Macquarie is feeling bullish on the company’s exposure to the booming unmanned aerial vehicle (drone) market.

News Corp (ASX: NWS)

Macquarie has also become positive on media giant News Corp. This week the broker has upgraded News Corp shares to an outperform rating with an improved price target of $46.25. Based on its current share price of $42.16, this implies potential upside of almost 10% over the next 12 months.

The broker believes the media conglomerate is successfully reinforcing the proprietary nature of its data. It highlights that News Corp’s earnings are benefiting as the company executes on content license deals with artificial intelligence (AI) companies.

In addition, Macquarie points out that the ASX 200 share is leaning into AI as a way to generate internal efficiencies.

Inghams Group Ltd (ASX: ING)

The team at Macquarie has been at it again, upgrading this poultry producer’s shares this week.

On Tuesday, Inghams released a trading update which revealed that sales volumes were up 1.1% for the first nine months of FY 2026.

As a result, management has been able to reaffirm its FY 2026 guidance for underlying EBITDA of $180 million to $200 million.

The company’s CEO and managing director, Ed Alexander, commented: “We are seeing improved operational performance and positive momentum from initiatives already delivered, while reaffirming our FY26 guidance in a challenging environment.”

In response to the update, Macquarie upgraded the ASX 200 share to a neutral rating (from underperform) with a $1.80 price target. This compares to the current Inghams share price of $1.90.

It also expects a dividend yield of approximately 5.2% over the next 12 months.

Macquarie believes that the company is positioned for growth thanks to better cost of production and improvements across its supply chain.

Elsewhere, Jarden has upgraded Inghams to an overweight rating with a $2.70 price target. Jarden also upgraded Brambles Ltd (ASX: BXB) shares to an overweight rating with a $25.15 price target.

The post 4 ASX 200 shares upgraded by brokers this week appeared first on The Motley Fool Australia.

More reading

• How high does Macquarie think Codan shares will go?
• Why Codan, Medallion, Megaport, and Mineral 260 shares are storming higher today
• Are Inghams shares a buy, hold or sell after jumping 15% this week?
• Why BHP, GQG, Inghams, and Symal shares are pushing higher today
• Why Dyno Nobel, Inghams, Metcash, and Strike Energy shares are charging higher today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Rio Tinto Ltd (ASX: RIO) shares are continuing their rally on Thursday afternoon. The miner’s shares are up another 1.36% to $191.57 at the time of writing, marking their highest-ever trading price. At one point this morning, the shares reached as high as $192.30 each.

After dipping to a 2026-low of $144.41 in March, Rio Tinto shares have rocketed 32% higher.

The shares are now up 29% for the year to date and are an impressive 59% higher than just 12 months ago.

The latest gains now put Rio Tinto in 8th place on the S&P/ASX 200 Index (ASX: XJO) by market capitalisation, 

What is pushing Rio Tinto shares higher?

Renewed confidence in the outlook for copper and iron ore – the two key commodities that Rio Tinto produces – has acted as a strong tailwind for the miner’s share price recently.

According to Trading Economics data, copper futures climbed to around US$6.6 per pound on Wednesday, hitting fresh all-time highs on stronger Chinese demand and growing supply concerns. 

Strong copper demand is linked to AI data centres, electrification, and renewable energy infrastructure. Meanwhile, on the supply side, disruptions to sulphuric acid availability, linked to the conflict between the US and Iran, raise concerns about tighter global supply.

Meanwhile, iron ore prices have also reached a multi-year high of around US$111.28 per tonne, according to Trading Economics data. The latest trading price represents a 5.6% increase over the past month and a 10% increase from this time last year.

But it’s not only surging prices that have ignited soaring investor sentiment. In April, the miner also posted an impressive production result for the first quarter of FY26.

The copper miner posted a 9% year-on-year increase in copper equivalent production in the first quarter of FY26. Iron ore production in the Pilbara region also jumped 13%, making it the second-best Q1 production since 2018, despite weather disruptions and reduced shipments.

Rio Tinto also said it is focusing on production expansion across its core commodity assets. 

Can the shares keep climbing higher?

The majority of analysts currently hold a buy or strong buy rating on Rio Tinto shares, but after the latest rally, most target prices represent a downside at the time of writing.

Market Index data shows that most brokers have a buy rating on the shares, and the $166.26 average target price implies a potential 13% downside over the next 12 months, based on the share price at the time of writing. However, it’s important to note that the data hasn’t been updated since the 4th of May. Back then, Rio Tinto shares were around $20 less than the current trading price.

TradingView data reflects something similar. Seven out of 15 analysts have a buy or strong buy rating on the shares. Another seven have a hold rating, and one has a strong sell rating on the miner’s stock.

The average $166.35 target price implies a potential 13% downside at the time of writing. Although the maximum $193.78 target price still implies the shares could climb another 1%.

Overall, it’s clear that the long-term outlook for the copper (in particular) and iron ore markets is strong, and Rio Tinto’s production is climbing steadily. 

Some state that Australia is in the early stages of a new mining boom, driven mostly by a transition to green energy. 

If that does come to fruition, I expect Rio Tinto shares could very well keep climbing higher. 

The post Rio Tinto shares hit fresh all-time high. Can they keep going? appeared first on The Motley Fool Australia.

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• How much do I need to invest in ASX shares for $500 a month of passive income?
• Copper is going ballistic. Which ASX shares are riding the boom?
• Why the ASX 200 is being smashed today
• ASX 200 mining shares smash multi-year highs as key commodity prices rise

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record a small decline. At the time of writing, the benchmark index is down 0.2% to 8,612.8 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Bapcor Ltd (ASX: BAP)

The Bapcor share price is down 19% to 41.7 cents. Investors have been selling this auto parts retailer’s shares following the release of another disappointing update. Bapcor advised that its performance in the second half of FY 2026 has been negatively impacted by the Middle East conflict. As a result, it now expects underlying EBITDA in the range of $144 million to $150 million. This is down from its previous guidance of $150 million to $160 million. Bapcor’s CEO and managing director, Chris Wilesmith, said: “We are pleased with the positive momentum of the turnaround, which has been delivered through decisive actions we’ve taken to improve pricing, stock availability and team engagement. This is despite the challenging external environment which was not contemplated when we began this turnaround, and which has slowed the rate of improvement contemplated in our previous guidance.”

Coles Group Ltd (ASX: COL)

The Coles share price is down 3% to $20.52. This morning, the supermarket giant provided an update on proceedings brought against Coles by the Australian Competition and Consumer Commission. This was in relation to 245 products on the company’s Down Down promotional program between February 2022 and May 2023. While price increases resulting from supplier cost price increases were commercially justifiable, the Federal Court found that Coles misled consumers with its Down Down tickets. It said: “The Court found that, after a cost price increase, a minimum price establishment period of 12 weeks was required before promoting products on its Down Down program. As a result, the Court found the Down Down tickets were misleading.”

Graincorp Ltd (ASX: GNC)

The Graincorp share price is down 14% to $5.34. This has been driven by the agribusiness and processing company’s first-half results. For the six months ended 31 March, GrainCorp reported underlying EBITDA of $136 million. This was down 33% from $202 million in the prior corresponding period. GrainCorp’s managing director and CEO, Robert Spurway, said: “GrainCorp’s 1H26 result reflects a disciplined performance in a challenging global grain market. Oversupply of grain and associated low pricing have compressed margins across the supply chain and reduced grower selling activity, limiting available volumes and increasing competition for grain brought to market.”

Xero Ltd (ASX: XRO)

The Xero share price is down 7% to $75.22. This follows the release of the cloud accounting platform provider’s FY 2026 results. Although Xero outperformed on most metrics, its profits were a miss due to higher R&D capitalisation. Outside this, it was another impressive period for Xero, driven partly by a strong performance in the key US market. Xero reported a 31% increase in operating revenue to $2.75 billion, an 18% lift in adjusted EBITDA to $757.4 million, and a 37% jump in annualised monthly recurring revenue (AMRR) to $3.27 billion.

The post Why Bapcor, Coles, Graincorp, and Xero shares are tumbling today appeared first on The Motley Fool Australia.

More reading

• Coles share price ‘down down’ after Federal Court rules shoppers were deceived
• Why Graincorp, Air New Zealand and Megaport shares are turning heads on Thursday
• Why Megaport shares and Xero shares are making big moves on Thursday
• Why on earth is the Bapcor share price crashing 21% on Thursday?
• Why Xero shares are falling despite a big jump in revenue

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Eagers Automotive Ltd (ASX: APE) and Technology One Ltd (ASX: TNE) shares look well-placed to outperform in the months ahead.

That’s according to Catapult Wealth’s Blake Halligan, who tipped both S&P/ASX 200 Index (ASX: XJO) stocks as buys this week (courtesy of The Bull).

Here’s why.

Should you buy Technology One shares today?

“TNE delivers software-as-a-service (SaaS) solutions to government and business,” Halligan noted.

“The company is emerging as one of the first SaaS names to flag a discrete artificial intelligence revenue stream, embedding AI across all 20 products,” he added.

Summarising his bullishness on Technology One shares, Halligan concluded:

Recent updates point to accelerating momentum. We expect upcoming half year results on May 19 to beat expectations on new customer wins and AI product rollouts. Expansion in the UK remains a key long term growth opportunity.

How the ASX 200 tech stock is embracing AI

On 18 February, Technology One shares closed up 1.1% after the company increased its full-year FY 2026 profit and revenue growth forecasts, noting that AI was driving its confidence in the future.

Commenting on the upgraded guidance, Technology One CEO Ed Chung said:

SaaS+ and our products turbocharged through AI are our not so secret weapons, giving us the confidence to increase PBT growth to 18% to 20%, upgraded from our prior range of 13% to 17%, as well as guiding to ARR growth of 16% to 18%. We are targeting the top end of the guidance range for both PBT and ARR.

Which brings us to…

Eagers Automotive shares eyeing EV sales boost

Atop his buy recommendation for Technology One shares, Halligan also expects Eagers Automotive shares to outperform.

“Eagers is Australia’s largest automotive retailer,” Halligan said. “In recent months, APE has benefited from a sharp uplift in electric vehicle demand, with EV sales across Australia booming in March.”

Explaining his buy recommendation on the ASX 200 stock, Halligan said:

APE posted revenue of $13 billion in full year 2025, up 16.5% on the prior corresponding period. The company grew its share in the new vehicle market to 13.9%, up from 11.5% in full year 2024.

Elevated fuel prices and ongoing dealership acquisitions support increased exposure to APE.

Eagers has also been on the acquisition path.

On 1 April, the company reported that it had acquired Audi Centre Melbourne and Audi Richmond from Zagame Automotive Group, as well as making a 49% investment in east coast-based Grand Motors Group.

Eagers Automotive shares closed up 3.7% on the day.

The post Why Eagers Automotive and Technology One shares just got a big buy call appeared first on The Motley Fool Australia.

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• Is the TechnologyOne share price an opportunity too good to pass up?
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• Buy, hold, sell: ANZ, Eagers, and Woolworths shares
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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Technology One. The Motley Fool Australia has recommended Eagers Automotive Ltd and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Coles Group Ltd (ASX: COL) share price is down 3.3% to $20.44 after an explosive Federal Court ruling.

The court found Coles misled shoppers on products promoted via its ‘Down Down’ discount program between February 2022 and May 2023.

You can read the full judgement here.

Let’s dig into the details.

Coles share price falls close to 52-week low

The Coles share price traded at an intraday low of $20.32 this morning, not far off its 52-week low of $20.10 set in February, as investors weighed the impact of the court’s ruling.

The Australian Competition and Consumer Commission (ACCC) launched the legal proceedings against Coles in September 2024.

The ACCC alleged that Coles deceived customers by marking 245 products as discounted shortly after their regular prices were materially increased.

The watchdog said Coles raised the prices by at least 15% for a short time before placing them on a ‘Down Down’ promotion.

The ACCC claimed the Down Down prices were higher than, or the same as, the price at which each product had been previously sold before the increase.

Therefore, the ACCC claimed that the discounts were illusory and misleading, and in breach of Australian consumer law.

Coles denied any wrongdoing.

Court findings

The hearing involved an agreed list of 12 sample products from the 245 specified by the ACCC.

Two products were marketed twice on the Down Down program, leading to 14 case studies being considered.

The court found that Coles increased the prices on all 12 items because suppliers had requested a rise to offset higher costs.

In the judgement, Justice Michael O’Bryan said:

… Coles increased the prices in a commercially justifiable manner.

Coles did not select an artificially high ‘Was’ price for the sample products in order to increase the perceived discount on the Down Down ticket.

However, Justice O’Bryan concluded that customers would only view the discounts as genuine if the increased prices had remained in place for a reasonable period before being reduced in a Down Down promotion.

Justice O’Bryan determined that a reasonable period was 12 weeks.

Based on this evaluation, Justice O’Bryan concluded that Coles made misleading representations in 13 of the 14 case studies.

He noted that several products had been marketed at higher prices for just four weeks or less before being discounted.

On that basis, I have concluded that 13 of the 14 Down Down tickets … were misleading because the relevant products were not sold at the ‘Was’ price stated on the ticket for a reasonable period and, as a consequence, the discount represented on the ticket was not genuine.

It follows that … Coles engaged in conduct in trade or commerce that was misleading…

In a short statement, Coles said it was “reviewing the judgement”.

What did the ACCC say?

In a statement, ACCC Chair Gina Cass-Gottlieb said:

The ACCC brought this case in the public interest because we considered that Coles’ pricing practices within its ‘Down Down’ program made it harder for customers to identify genuine value for money while shopping for household essentials.

We had received complaints by consumers about the ‘Down Down’ discounting claims made by Coles.

We understand how important it is for consumers to get value for their supermarket purchases, and decided to take action to test the discounting practices in Court.

This case has increased transparency and accountability in relation to Coles’ Down Down program.

Former ACCC chair, Allan Fels AO, told abc.net.au that the case was “a huge blow to Coles”.

Fels said:

For Coles the damage is immense. There will be substantial fines, a class action for damages, reputational loss for the business.

No penalties or court orders relating to the findings today have yet been set.

The parties will be back in court on 10 June.

The ACCC also launched separate proceedings against Woolworths Group Ltd (ASX: WOW).

The Federal Court has reserved its judgement in that matter.

The post Coles share price ‘down down’ after Federal Court rules shoppers were deceived appeared first on The Motley Fool Australia.

More reading

• Why Bapcor, Coles, Graincorp, and Xero shares are tumbling today
• How much do I need to invest in ASX shares for $500 a month of passive income?
• How big will the Coles and Woolworths dividends be in 2027?
• 3 ASX retail shares exposed to a drop in consumer spending
• 5 ASX 200 shares downgraded by experts this week

Motley Fool contributor Bronwyn Allen 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 positions in and has recommended Woolworths Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX Ltd (ASX: ASX) shares are pushing higher on Thursday after the market operator named its next boss.

At the time of writing, the ASX share price is up 2.28% to $58.65. By comparison, the S&P/ASX 200 Index (ASX: XJO) is down 0.08% on the back of market jitters.

The move adds to a stronger year for shareholders. ASX shares are now up 13% in 2026, although they remain down 19% over the past 12 months.

Here’s what has investors paying attention today.

A new boss is coming

In its ASX announcement, ASX said Anthony Attia has been appointed Managing Director and Chief Executive Officer.

He is expected to start on 1 September 2026, subject to the relevant authorisations to work in Australia.

Attia brings nearly 30 years of experience across exchanges and market infrastructure businesses in Europe and the United States.

Most recently, he was global head of derivatives and post trade at Euronext.

Before that, he held senior roles at Intercontinental Exchange and NYSE Euronext.

ASX has been dealing with a difficult period of late, including heavy technology spending and regulatory scrutiny.

A new CEO with deep exchange experience should give investors something positive to focus on.

Pay details

The appointment also comes with a sizeable pay package.

According to the release, Attia will receive fixed remuneration of $2 million a year, along with a short-term variable reward target of $1.7 million.

ASX also plans to seek shareholder approval for a long-term variable award with a face value of $2 million.

On top of this, Attia is entitled to restricted shares worth up to $6.3 million.

The company said the restricted shares recognise incentives he will give up by leaving his current role.

There will also be a short handover period before Attia takes over the helm. Current ASX CEO Helen Lofthouse will leave on 29 May 2026, while Darren Yip, group executive markets and listings, has been appointed interim CEO to support the transition.

Foolish Takeaway

Investors appear to be welcoming the appointment, with ASX finally giving the market a clearer leadership path.

Attia brings plenty of exchange experience, which should help. But investors will still want to see progress on the bigger issues facing the business.

That means keeping costs under control, improving its technology delivery, and rebuilding confidence with investors, customers, and regulators.

From here, the market will be watching whether the new boss can put ASX back on steadier ground.

The post ASX shares rise as investors welcome a major leadership change appeared first on The Motley Fool Australia.

More reading

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• ASX shares climb after CEO news. Here’s what investors are watching
• 3 ASX 200 financial shares to sell: experts
• This ASX copper stock could be cheap compared to BHP and Rio Tinto shares

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 recommended Intercontinental Exchange. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX tech stock Megaport Ltd (ASX: MP1) is blasting higher on Thursday.

During afternoon trade, the Megaport share price is surging 35% to $13.31 after the company unveiled a massive trio of contract wins tied to the booming artificial intelligence (AI) sector.

The rally continues an extraordinary run for investors. The $2 billion ASX tech stock is now up 88% over the past month and 7% over the past 12 months, outperforming the benchmark S&P/ASX 200 Index (ASX: XJO), which has climbed roughly 4% over the same period.

So, what just sent Megaport shares into overdrive?

Major contracts, recurring revenue

Megaport revealed it has secured three major customer contracts worth a combined US$182.9 million, or approximately A$254 million in total contract value.

Even more importantly, the ASX tech stock expects the deals to generate around US$65.2 million (A$90.6 million) in annual recurring revenue (ARR).

That instantly grabbed investor attention. Recurring revenue is highly prized in the tech sector because it creates predictable cash flow and stronger long-term earnings visibility. In Megaport’s case, the business managed to lock in the contracts for fixed periods. Two of them are running for 36 months, and another is spanning 24 months.

The company also highlighted that the revenue is contracted regardless of actual customer usage, further strengthening the reliability of future earnings.

AI appeal

Investors appear especially excited because the contracts are tied directly to AI infrastructure demand.

Megaport said the agreements are with two US-based technology providers powering AI applications. One of the customers is already an existing client, suggesting the company is successfully upselling larger services across its global platform. That could be a very bullish sign for future growth opportunities.

To support the contracts, Megaport plans to invest heavily in high-performance hardware, including Nvidia Corp (NASDAQ: NVDA) GPUs, networking equipment, compute infrastructure, and storage. The ASX tech stock expects to spend roughly US$101 million (A$140.3 million) in capital expenditure to deliver the projects.

Backed by existing cash reserves

Importantly, management of the ASX tech stock said existing cash reserves alongside a newly upsized AUD$150 million debt facility will fund the investment. That eased concerns about the need for a potentially dilutive capital raising.

Megaport also noted the hardware won’t simply become obsolete when the contracts expire. Instead, the company expects to redeploy the infrastructure into the company’s Latitude.sh platform. This potentially will generate additional long-term revenue streams beyond the initial customer agreements.

Deployment of the equipment is scheduled to begin during the first half of FY27.

What else should investors know?

Despite the blockbuster announcement, the ASX tech stock reaffirmed its FY26 revenue and EBITDA guidance for the expanded group. This is excluding the impact of the new contracts.

However, the company warned that the additional investment could lift FY26 capital expenditure by as much as A$140.3 million. It said that this will depend on equipment delivery timing.

Management plans to provide more details on the financial impact and broader outlook at its full-year results in August 2026.

For now, though, investors appear focused on one thing: Megaport has just landed major AI-linked contracts with locked-in recurring revenue. And the market clearly likes what it sees.

The post Why is this ASX tech stock rocketing 35% today? appeared first on The Motley Fool Australia.

More reading

• Why Codan, Medallion, Megaport, and Mineral 260 shares are storming higher today
• Why Graincorp, Air New Zealand and Megaport shares are turning heads on Thursday
• Why Megaport shares and Xero shares are making big moves on Thursday
• Megaport secures $254 million in contracts, boosts ARR and outlook
• After a 50% surge, could this ASX tech stock still double?

Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport and Nvidia. The Motley Fool Australia has recommended Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Thursday. In afternoon trade, the benchmark index is down 0.1% to 8,621.3 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Codan Ltd (ASX: CDA)

The Codan share price is up 3% to $39.67. This has been driven by a bullish broker note out of Macquarie this morning. According to the note, the broker has upgraded the technology company’s shares to an outperform rating with a $44.20 price target. The broker is feeling bullish on the company’s exposure to the booming UAV market.

Medallion Metals Ltd (ASX: MM8)

The Medallion Metals share price is up 4.5% to 45.5 cents. This morning, the gold developer released positive drilling results from the Kundip Mining Centre, which is part of its Ravensthorpe Gold Project in Western Australia. Management revealed that drilling has returned multiple high-grade results at Kundip. Commenting on the results, Medallion’s managing director, Paul Bennett, said: “As expected, drilling at Kundip continues to yield some impressive grades over mineable widths. This drilling is targeting the early stages of the mine plan at both Gem and Harbour View, where the intention is to establish production horizons on both lodes within what we believe are the best parts of the deposits.”

Megaport Ltd (ASX: MP1)

The Megaport share price is up 35% to $13.27. Investors have been scrambling to buy the network solutions company’s shares after it announced another major contract win for its Latitude.sh business. It has secured three major GPU, CPU, network, and storage contracts across two customers with a combined total contract value (TCV) of approximately US$182.9 million (A$254 million). Megaport’s CEO, Michael Reid, said: “We are at the forefront of an accelerating inflection point across the industry. As use cases shift from AI foundation models to inference and the edge, Megaport is becoming an essential platform for powering the applications of tomorrow with globally distributed, automated infrastructure.”

Minerals 260 Ltd (ASX: MI6)

The Minerals 260 share price is up 4% to 88.5 cents. This morning, this gold miner announced binding agreements with Geko Explore to secure joint venture interests across approximately 350km2 of highly prospective tenure. These are contiguous with its 4.5Moz Bullabulling Gold Project in Western Australia. Minerals 260’s managing director, Luke McFadyen, said: “The joint ventures with Geko Explore represent another significant step in realising the growth and value potential of the Bullabulling Gold Project. The transaction consolidates the most prospective exploration tenements surrounding Bullabulling not already owned by Minerals 260 and unlocks a new pipeline of compelling exploration targets.”

The post Why Codan, Medallion, Megaport, and Mineral 260 shares are storming higher today appeared first on The Motley Fool Australia.

More reading

• Why is this ASX tech stock rocketing 35% today?
• Why Graincorp, Air New Zealand and Megaport shares are turning heads on Thursday
• Why Megaport shares and Xero shares are making big moves on Thursday
• Megaport secures $254 million in contracts, boosts ARR and outlook
• After a 50% surge, could this ASX tech stock still double?

Motley Fool contributor James Mickleboro has positions in Megaport. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Megaport. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Air New Zealand Ltd (ASX: AIZ), Graincorp Ltd (ASX: GNC) and Megaport Ltd (ASX: MP1) shares are grabbing financial headlines today.

Two of the ASX heavyweights are trailing the 0.2% losses posted by the S&P/ASX 200 Index (ASX: XJO) during the Thursday lunch hour, while one is rocketing higher.

Here’s what’s capturing investor interest.

Megaport shares rocket on big contract wins

Megaport shares are on fire today.

Shares in the ASX 200 tech stock are up a whopping 33.8% today, changing hands for $13.18 apiece. That sees the share price up 96.4% since the stock plumbed one-year closing lows on 10 April.

The company is making waves after announcing this morning that it had secured three new contracts with two United States based technology providers involved in AI applications. The total contract value (TCV) was reported to be $254 million.

Two of the fixed-term contracts run for three years, while one runs for two years.

The company said this will required around $140 million in new capital investment.

Commenting on the contract wins sending Megaport shares flying today, CEO Michael Reid said:

We are at the forefront of an accelerating inflection point across the industry. As use cases shift from AI foundation models to inference and the edge, Megaport is becoming an essential platform for powering the applications of tomorrow with globally distributed, automated infrastructure.

Air New Zealand shares sink on surging fuel costs

Air New Zealand is also turning heads today after the ASX airline stock reported on the significant impact of surging jet fuel prices following the outbreak of the Iran war.

In news also likely to alarm Qantas Airways Ltd (ASX: QAN) shareholders, Air New Zealand revealed that jet fuel prices have surged from around US$85 to US$90 per barrel before the conflict to trade in the range of US$160 and US$230 per barrel in the last 10 weeks.

As such management now expects the airline to post a full year FY 2026 loss before tax between $340 million to $390 million.

Air New Zealand shares are down 4.2% at time of writing, trading for 42 cents each.

Which brings us to…

 Graincorp shares plunge on profit decline

Joining Air New Zealand and Megaport shares in the headlines today, investors are tuning into Graincorp following the ASX 200 agribusiness and processing company’s half year results (H1 FY 2026).

Graincorp shares are down a sharp 13.2% at time of writing, trading for $5.40 apiece.

Investors are reaching for their sell buttons after the company reported 32.7% year-on-year decline in underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) to $136 million.

On the bottom line, underlying net profit after tax (NPAT) of $33 million was down 52.2% from H1 FY 2025.

Looking ahead, the ASX 200 stock reaffirmed full year FY 2026 underlying EBITDA guidance in the range of $200 million to $240 million.

Management expect to achieve underlying NPAT in the range of $20 million to $50 million.

The post Why Graincorp, Air New Zealand and Megaport shares are turning heads on Thursday appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Commonwealth Bank of Australia (ASX: CBA) shares are trading in the green on Thursday lunchtime. 

At the time of writing, the major bank’s shares are up 0.75% to $154.82 a piece.

The rise is welcome news for investors, but there is a long way for the shares to go before they’ve recovered to levels seen just a week ago.

CBA shares spiked to $179.23 on Thursday last week before tumbling around 2%. The sell-off accelerated this week. By the close of the ASX on Tuesday, the shares had shed another 2.5%. Yesterday, the shares crashed by over 10%.

CBA shares have now fallen 16% over the past month, are down 4% year to date, and are over 7% lower than this time last year.

Now many are asking: Is the latest fall from grace an opportunity for buyers to get into the bank stock for cheap? Or is this the correction analysts have anticipated for some time now?

What caused this week’s sell-off?

The banking giant posted its third-quarter capital update ahead of the market open on Wednesday morning.

For the three months ended 31st March, the bank reported that its operating income was flat, with higher net interest income offset by lower other operating income.

The bank posted an unaudited cash NPAT of $2.7 billion, which is 1% lower than the quarterly average for the first half of FY26.

Elsewhere, its net interest income rose 1% due to lending and deposit volume growth and higher deposit margins. But this was partially offset by lending competition, a shorter quarter, and a lower New Zealand dollar.

The bank also announced that its loan impairment expense was $316 million for the quarter, and that it has raised the forward-looking component of collective provisions by $200 million to account for greater geopolitical and economic risks.

It looks like investors were spooked by the results. Many flocked to sell up their shares and take the latest gains off the table.

Have CBA shares now bottomed?

It’s been the consensus for some time that CBA’s shares are significantly overvalued relative to its peers. Analysts have also previously commented that the bank’s bumper price tag isn’t supported by its business fundamentals. 

Today’s data on Market Index shows that even after this week’s crash, brokers still have a strong sell rating on the stock. 

The brokers tip a potential downside of another 20% to an average 12-month target price of $123.90 at the time of writing. This is a decline from the average 12-month target price of $129.82 that brokers had on the stock last week. 

TradingView data shows some analysts are even more pessimistic about the trajectory for CBA shares over the next 12 months. Out of 16 analysts, 14 have a sell or strong sell rating on the stock. Some think the shares could crash another 42% to as little as $90 each over the next 12 months.

If analyst predictions are anything to go by, it looks like CBA’s share price could crash again. 

The post Are CBA shares a buy after the latest sell-off? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.