Research

Our banks analyst Nathan Lead recently had a close look at the valuations of the banks to see if their recent share price strength could be justified by fundamentals.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

In its latest retail sales release, the ABS implied that Taylor Swift’s seven concerts in Sydney and Melbourne boosted retail sales by 20 basis points in February 2024.

Morgans research analysts re-set their sector views, strategies and best ideas as dynamic forces continue to challenge markets.

We have updated our earnings estimates and target prices for all the companies in our consumer discretionary universe following the trading updates provided during the recent AGM season and recent movements in FX rates.

Today, Tuesday the 28th of February, we are happy to buy Dalrymple Bay (ASX:DBI), TPG Telecom Limited (ASX:TPG), Stanmore Resources (ASX:SMR), Bega Cheese (ASX:BGA), Airtasker Limited (ASX:ART), Waypoint REIT (ASX:WPR), Ai-Media (ASX:AIM), and Kina Securities Ltd (ASX:KSL).

Today, Tuesday the 14th of February, we are happy to buy Endeavour Group (ASX:EDV), Aurizon Holdings (ASX:AZJ), JB Hi-Fi (ASX:JBH) and Beach Energy (ASX:BPT).

The stocks we are happy to buy today, Thursday the 24th of February 2022.

The stocks we are happy to buy today, Monday the 29th of August 2022.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month time frame.

With the election out of the way and Labor's more disruptive reforms defeated, market sentiment has clearly taken a turn for the better.

We see a strong chance of FY19 results beating low expectations, but market estimates for FY20 look too heroic, leaving scope for some disappointment versus very stretched valuations.

In our reporting season preview we noted that the spread in consensus forecasts was very narrow and the potential for beats and misses versus market expectations was lower than normal.

There was a lot to like about the February reporting season.

The first half reporting season kicks off later this week, and according to the latest Thomson Reuters earnings estimates, EPS for the S&P/ASX200 is forecast to grow by 7.0% in FY18, down from the 11.3% in FY17.

If you have a large stockmarket shock as we have had in the last couple of days, the market will vary in a broad range in order to discover the prices that people want to buy at and sell at.

Investors are waiting for a circuit-breaker.

Stock investors have enjoyed an extended bull market since March 2009.

Our daily best calls through reporting season, August 2022 on Wednesday, 31 August 2022.

We preview the FY22 results of the five gaming stocks in our universe that report in August.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Our best ideas are those that we think offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence. They are our most preferred sector exposures.

Dive into our series of videos where our analysts uncover stocks set to surprise investors in February, along with key emerging themes. Stay informed as ASX-listed companies unveil their half-yearly results with Morgans by your side.

Explore our latest edition of The Month Ahead where we spotlight three standout companies from the recent reporting season: The Lottery Corporation, Smartgroup, and Ventia. Gain valuable insights and fresh perspectives to enhance your investment strategy.

Why now is the time to seize undervalued assets and navigate market volatility. In April 2023, we spotlight three top-tier stocks, including Macquarie Group, ResMed, and Microsoft, presenting compelling value propositions after recent price declines.

In May we spotlight Aurizon, CSL Limited, and NEXTDC. From rail freight operations to biotechnology advancements and data centre infrastructure, these selections promise growth potential and strategic insights. Our expert analysts uncover why these companies stand out.

We preview the banks 1H23 reporting season, with expectations of solid-to-strong 1H23 growth but with a weakening earnings outlook from 2H23 onwards.

Morgans analysts preview the results for 150 stocks under coverage that report in February and call out likely surprise and disappoint candidates.

Discover the potential of small-cap stocks in June 2023! Explore our expert insights into rising trends and promising investment opportunities in Flight Centre, Super Retail Group, Objective Corporation, and Dalrymple Bay Infrastructure. Stay ahead of the curve with our comprehensive analysis.

Discover the power of strong leadership in equity investment! This month we look at four companies led by visionary leaders, poised to drive long-term shareholder value. From Endeavour Group's retail dominance to Goodman Group's global presence, unlock investment opportunities with our expert analysis.

Get ready for the upcoming reporting season with our expert insights! Discover top stock picks and strategic analysis for navigating market volatility and uncovering potential opportunities.

Strong FY18 led by A2 Platinum market share wins.

Woolworths (WOW) has announced its intention to combine Endeavour Drinks and ALH Group (to be called Endeavour Group) ahead of a possible demerger in CY20.

The A2 Milk Company (ASX:A2M) has maintained guidance at its AGM.

Explore August's insights for September's opportunities. Discover resilient retail earnings and the post-COVID travel sector recovery. Stay ahead with our top picks and expert analysis.

Zip Co's (ASX:Z1P) reported 1H21 NPAT loss of ~A$453m was impacted by a number of one-off items

Discover the latest additions to Morgans' research coverage as we introduce new companies to our clients. In October, we initiated coverage on CSR Limited, PolyNovo, and True North Copper. Find out why these companies made it to our radar and how they could impact your investment portfolio.

Explore the insights from the Morgans Institutional Conference on the evolving corporate landscape in Australia. Discover the growth trajectories and strategies of Corporate Travel Management (CTD), Eagers Automotive (APE), and Monash IVF Group (MVF).

Zip Co's demonstrated robust 3Q21 performance, showcasing impressive growth across revenue, merchants, and customers, with the standout success of Quadpay in the US market, positioning the company for long-term success in the dynamic buy now, pay later landscape.

Dive into Afterpay's 3Q21 highlights, from robust sales growth and global expansion to strategic moves like a potential US listing, providing a snapshot of the fintech giant's dynamic trajectory

FY21 management NPAT (US$284m) was down ~7.5% on pcp, but broadly in-line with Bloomberg Consensus (US$281m) and company guidance (-8%).

Aristocrat Leisure's (ASX:ALL) proposed acquisition of UK-listed Playtech for an enterprise value of A$5.0bn will give ALL immediate scale and capacity in the fast-growing online real money gaming (RMG) space.

Explore Perpetual's robust 1Q22 performance, marked by positive growth in Asset Management, Corporate Trust, and Perpetual Private, along with upgraded earnings and an undemanding valuation.

Overall a marginally softer 3Q21 than we expected, but Viva Energy Australia (ASX:VEA) remains in a strong position leveraged to the NSW and VIC reopenings.

Insurance Australia Group (ASX:IAG) reveals its 5-year strategy, maintaining medium-term targets for cash ROE; scepticism remains on customer growth, but Morgans maintains an ADD rating, citing IAG's potential for improved profitability at ~13x FY23F earnings.

GrainCorp (ASX:GNC) exceeds FY21 expectations, benefiting from a record east coast grain crop and strategic initiatives, paving the way for an upbeat FY22 outlook, earnings upgrades and a solid operating environment.

Woodside Petroleum (ASX:WPL) plans a $5 billion investment in New Energy post-BHP Petroleum merger, targeting hydrogen, green ammonia, and solar, with ESG gains but potential capital efficiency and competitive risks, maintaining an Add rating.

In FY22, Wesfarmers (ASX:WES) exceeded expectations with a strong performance from Kmart Group, surpassing projected Dividend Per Share (DPS) and achieving a notable increase in Return on Equity (ROE) by 330 basis points. While facing challenges, the company's robust retail performance and optimistic outlook position it as an attractive investment opportunity.

Explore the current resource market dynamics and strategic insights, revealing opportunities amid a selloff, preferred sector exposures, and valuable commodity insights for investors navigating the evolving landscape of China's growth and resource equities.

Inghams' exceeding 1H24 expectations, sustained recovery momentum, and a comprehensive view of its undemanding valuation, offering investors a well-rounded perspective on the poultry producer's current standing.

Ramsay Health Care's investor day spotlighted digital aspirations and strategic manoeuvres. Explore promising growth in Australia, the delicate balance of operating leverage, and adjustments to FY24-26 earnings.

Explore Commonwealth Bank's 1Q24 update, revealing stable performance, and uncover the insights into fiscal projections with potential cash EPS downgrades for FY25-26F.

ALS's FY23 success, surpassing earnings expectations with a 13.0% NPATA increase to $1,327M, sets the stage for a resilient future, navigating FY24 with optimism and retaining an Add rating despite adjustments.

Explore how Nufarm outperformed peers in FY23, the strategic moves that shaped their financials, and what lies ahead in FY24.

GrainCorp's (ASX:GNC) FY23 result was down on the record pcp however it still posted a commendable result with strong operating cashflow and a large core cash position the key highlights.

Technology One's (ASX:TNE) result was slightly better than expected with revenue momentum being the highlight.

Brickworks (ASX:BKW) has released a trading update ahead of today’s AGM.

Medibank (ASX:MPL) had hosted its AGM, with the company re-affirming key FY24 guidance metrics.

Delve into three stocks undervalued after 2023's turbulence: Lovisa, ResMed, and Treasury Wine Estates. From fashion elegance to medical innovation and luxury wines, seize the opportunity with these promising investments.

Explore Webjet's (ASX:WEB) robust 1H24 report and optimistic outlook despite recent challenges. Discover how record bookings and strong cash flow position the company for growth. With ample market share opportunities, learn why Webjet is a compelling investment choice.

We review recent NBN and mobile pricing trends, update our forecasts for recent events including 5G spectrum auction, and highlight our move to a mildly underweight sector view on telecommunications.

Unlock the growth potential of Aurizon Holdings (ASX:AZJ). Explore projections, dividends, and investment insights in our latest analysis. Discover why Aurizon Holdings could be your next strategic investment.

Domino's Pizza (ASX:DMP) has announced radical action to reduce its cost base in the face of ongoing pressures from inflation...