By Tom Sartor
02 December 2020, 9:00 AM
Morgans research analysts re set their sector views, strategies and best stock ideas ahead of an accelerating economic recovery into 2021. The November market bounce was stunning, but we remind investors to continually re asses their portfolio exposures and to prepare for ongoing opportunities as we expect bumps in the road ahead.
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By Tom Sartor
19 November 2020, 3:45 PM
1H21 underlying financials met the market’s expectations helped by thorough
disclosure through COVID.
All indications suggest 1Q21 will mark the low-point in activity, with resilient
margins and much stronger 2Q sample flows seen continuing into 2H21.
We forecast earnings to recover back to pre-COVID levels during 1H22,
contingent on avoiding further hard lockdowns in key geographies.
Our blended valuation is based on our FY22 forecasts and adjus...
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By Adrian Prendergast
16 November 2020, 2:25 PM
Given our macro view on sector rotation into cyclicals, and supported by our view on US dollar weakness in 2021, now appears a good time to invest in resources.
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By Adrian Prendergast
22 September 2020, 9:25 AM
We see the oil & gas sector as a Covid-exit trade that has so far been overlooked. Given market jitters around energy, we expect a broad sector re-rating to trail some other key Covid trades. This has left us favouring those oil & gas players with defendable (low risk) earnings platforms and healthy balance sheets.
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By Adrian Prendergast
20 August 2020, 8:51 AM
Another strong year for BHP, with strong iron ore prices and capital discipline again combining for a healthy result, albeit just short of expectations.
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By Adrian Prendergast
19 August 2020, 10:21 AM
Woodside Petroleum (ASX:WPL) has triggered the pre-emptive option on the sale of partner Cairn Energy's stake in its Senegal interests.
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By Adrian Prendergast
30 July 2020, 9:00 AM
1H20 result was ahead of consensus estimates, with ongoing iron ore strength helping Rio Tinto (ASX:RIO) to plug a gap left by lower aluminium and copper prices. We downgrade to a Hold rating on recent share price strength, while still considering RIO a core holding for a wide group of investor types.
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By Adrian Prendergast
21 July 2020, 10:38 AM
A good first half from Rio Tinto (ASX:RIO) overall, with solid volumes vs soft metal prices. Iron ore makes up 80% of EBITDA, but won't always be this strong. Does RIO use the opportunity to change its business?
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By Adrian Prendergast
14 July 2020, 2:40 PM
In this blog, I review my position ahead of the up coming June quarter result and half year earnings result. We maintain our ADD position, with a revised price target.
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By Adrian Prendergast
21 April 2020, 1:15 PM
We expect the panic selling to continue in oil futures markets and ETF’s and for it to extend into June. We have been waiting for this kind of oil price volatility (waiting for it to hit rock bottom) so we can gain conviction on our buy ideas, and it looks like it is quickly approaching.
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