STOCK PRICE FORECASTING – AUSTRALIA

ASX tipped to hit 8300 this year, defying rate talk

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Original article by Joanne Tran
The Australian Financial Review – Page: 29 : 7-May-24

The benchmark S&P/ASX 200 reached a record high of 7,896.9 points in early April; despite the recent pullback it has still gained about 0.6 per cent so far in 2024. UBS equity strategist Richard Schellbach is amongst the market watchers who are bullish about the outlook for the ASX 200, forecasting that it will top 8,000 points by the end of this year. VanEck Australia in turn has a year-end target of 8,300 points, while David Bassanese from Betashares expects the index to reach 8,250 by the end of 2024.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, UBS HOLDINGS PTY LTD, VANECK AUSTRALIA PTY LTD, BETASHARES CAPITAL LIMITED

Brokers go all in on Rio, tipping 20pc share price jump

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Original article by Alex Gluyas
The Australian Financial Review – Page: 27 : 9-Apr-24

The consensus of analysts is that Rio Tio’s shares will significantly outperform those of rival BHP over the next year. Rio Tinto’s stock is tipped to gain 20 per cent, compared with expectations of a six per cent rise in BHP’s share price. Analysts cite factors such as Rio Tinto’s rising copper production via the Oyu Tolgoi mine in Mongolia, as well as its large aluminium business. Meanwhile, BHP is facing a massive lawsuit over the collapse of a tailings dam in Brazil.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP

RBA forecast to lift rate for 10th straight time

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Original article by Cecile Lefort
The Australian Financial Review – Page: 23 : 6-Mar-23

Futures pricing suggests that Australian equities will gain 0.9 per cent when the market opens on Monday. The local bourse is expected to be bolstered by a positive lead from Wall Street, which rallied in response to the latest US economic data. Meanwhile, financial markets have priced in a 96 per cent chance that the Reserve Bank of Australia will increase the cash rate by 25 basis points to 3.6 per cent on Tuesday. However, most economists now expect the cash rate to peak at 3.85 per cent in the June quarter.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, RESERVE BANK OF AUSTRALIA

Citi upgrades Australian, Euro stocks

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Original article by Alex Gluyas
The Australian Financial Review – Page: 27 : 10-Jan-23

Citigroup has upgraded its rating on Australian equities to ‘neutral’ and expects the benchmark S&P/ASX 200 to reach 7,400 points in 2023. Citi also cautions that there is downside risk to consensus earnings forecasts of four per cent for the calendar year. Meanwhile, Citi has upgraded its rating for European shares to ‘overweight’, but its recommendation on US shares has been downgraded to ‘underweight’.

CORPORATES
CITIGROUP INCORPORATED,STANDARD AND POOR’S ASX 200 INDEX

Jury’s out on where to get best profit growth this year

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Original article by Alex Gluyas
The Australian Financial Review – Page: 12 & 16 : 4-Jan-23

The S&P/ASX 200 shed 5.5 per cent in 2022, ending the year at 7,038.7 points. Data from Bloomberg shows that energy, utilities and materials were the only sectors that posted gains for the calendar year. UBS equity strategist Richard Schellbach expects the benchmark index to end 2023 at 7,250 points, while AMP forecasts that it will finish the year at 7,600. In contrast, Credit Suisse expects the S&P/ASX 200 to retreat in 2023, ending the year at just 6,700.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX,BLOOMBERG LP,UBS HOLDINGS PTY LTD,AMP LIMITED – ASX AMP,CREDIT SUISSE (AUSTRALIA) LIMITED

Many mining stocks overvalued, warns UBS

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Original article by Tom Richardson
The Australian Financial Review – Page: 27 : 14-Dec-22

Shares in BHP have gained 36 per cent in US dollar terms since the end of October. However, UBS analyst Lachlan Shaw says the firm believes that the stock has risen too quickly in a short period of time. UBS has a ‘sell’ rating on BHP and rival iron ore producers Rio Tinto and Fortescue Metals Group. The firm also expects the iron ore price to trade at around $US100 a tonne over the first half of 2023, compared with about $US112/tonne at present; it is then forecast to fall to around $US95 a tonne in the December 2023 quarter. UBS is more upbeat about commodities such as gold, coal, zinc and lithium.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, UBS HOLDINGS PTY LTD

Resources set to drive ASX to 8000 at year’s end

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Original article by William McInnes
The Australian Financial Review – Page: 28 : 9-Jul-21

Mike Aked of global investment manager Research Affiliates says Australia’s benchmark S&P/ASX 200 Index could rise above 8,000 points by the end of 2021. He expects the resources sector to drive the local market higher, on the back of the continued strength of commodity prices. Financial stocks have been the main driver of the local bourse’s recent rally, although the materials sector has surged in the last several weeks amid a rebound in the prices of commodities such as iron ore and copper.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, RESEARCH AFFILIATES LLC

CBA breaks through $100 for first time

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Original article by Cliona O’Dowd
The Australian – Page: 13 & 16 : 27-May-21

Shares in the Commonwealth Bank of Australia reached a record intra-day high of $100.20 on 26 May, ending the session at $99.58. CBA’s share price has risen by 12 per cent so far in May, giving it a market capitalisation of $176.7bn. It is now the biggest stock on the local bourse, and the world’s 11th largest bank in terms of market capitalisation. Brett Le Mesurier of Velocity Trade expects CBA shares to trade at around $100 in the near-term, but Dean Fergie of Cyan Investment Management says the stock could rise further.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, VELOCITY TRADE, CYAN INVESTMENT MANAGEMENT PTY LTD

Budget 2021: Stock winners and losers

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Original article by David Rogers
The Australian – Page: 24 : 13-May-21

Macquarie Equities has identified stocks that are likely to benefit from measures in the federal government’s May 2021 Budget. The extension of the instant asset write-off for businesses should boost the sales of companies such as JB Hi-Fi and Wesfarmers, while CSR, CIMIC and Seven Group are among the stocks that should benefit from the government’s move to ramp up infrastructure investment and provide further stimulus for the housing sector. Meanwhile, travel-related stocks were sold down on 12 May after the government signalled that Australia’s international borders will not re-open for some time.

CORPORATES
JB HI-FI LIMITED – ASX JBH, WESFARMERS LIMITED – ASX WES, CSR LIMITED – ASX CSR, CIMIC GROUP LIMITED – ASX CIM, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, MACQUARIE EQUITIES LIMITED

Options for investors as bourse nears record high

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Original article by David Rogers
The Australian – Page: 20 : 9-Apr-21

Australia’s benchmark S&P/ASX 200 is within striking distance of its record high of 7,197.2 points, set in February 2020. The index reached an intra-day high of 7,012.4 points on 8 April, having gained 60 per cent since falling to a pandemic-induced low in March 2020. The index has gained three per cent in the month to date, compared with an average gain of 2.5 per cent in April. Pieter Stoltz of UBS expects cyclicals and value stocks to outperform the broader sharemarket in the near-term; he also likes stocks with overseas earnings and those with exposure to the housing and mining services sectors.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, UBS HOLDINGS PTY LTD