By Alex Lu
12 November 2020, 12:00 AM
Wesfarmers' (ASX:WES) trading update overall for October YTD was better than we expected. Bunnings and Officeworks were particularly strong with Catch also maintaining good momentum. LFL sales at Kmart and Target were solid, boosted by very strong online growth, although total sales were adversely impacted by government-mandated store closures in Melbourne.
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By Tom Sartor
30 July 2020, 10:30 AM
The lack of 1H21 guidance at the AGM was a surprise, however the 1Q trading update does imply ASL (ASX:ALQ) is tracking comfortably ahead of expectations. Our blended valuation is based on FY22 forecasts and adjusts.
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By Alex Lu
28 July 2020, 2:45 PM
Analysis on stocks within the Industrials sector ahead of the August 2020 reporting season.
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By Nathan Lead
14 July 2020, 9:44 AM
Aurizon Holdings (ASX:AZJ) will report its FY20 result on 10 August. As a result of Q4 volume weakness, we expect EBIT to be at the bottom end of the $880-930m guidance range. The forecast dividend yield of 5.9% (~70% franked, 100% earnings payout) continues to be appealing, as does the relative revenue resilience, investment grade balance sheet, and potential for further buybacks.
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By Nathan Lead
25 June 2020, 4:44 PM
In this update, I comment on Sydney Airport (ASX:SYD) and my perspective on their future outlook. Additionally, I talk about Transurban (ASX:TCL) and what their latest distribution and traffic update means for investors.
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By Nathan Lead
14 May 2020, 7:22 PM
Listen to analysis on APA Group (APA), Aurizon Holdings (AZJ), Cleanaway Waste Management (CWY) and Qube Holdings (QUB)
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By Nathan Lead
21 April 2020, 1:35 PM
Morgans Senior Analyst Nathan Lead comments on Sydney Airport (SYD) following its business update on 20 April.
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By Nathan Lead
02 April 2020, 1:45 PM
COVID-19 has significantly impacted traffic on TCL’s roads. We assume a full recovery does not occur until CY22.
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By Alex Lu
10 March 2020, 12:00 AM
Morgans Research Analyst Alex Lu shares some post reporting season comments on Woolworths Group (ASX:WOW), Coles Group (ASX:COL), Amcor (ASX:AMC) and Invocare (ASX:IVC).
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By Nathan Lead
24 February 2020, 12:30 PM
The 2H19 result was solid. Developments in commercial were positive. Delay in providing FY20 DPS guidance was a surprise (we ultimately expect 40 cps).
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