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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
According to a note out of
Credit Suisse, its analysts have initiated coverage on this online furniture and homewares retailer’s shares with an
outperform rating and $12.54 price target. The broker believes the company is well-positioned in a large and growing furniture and homewares market which is shifting online. Credit Suisse sees scope for 13% of industry sales to be made online by FY 2025. This puts Temple & Webster in a position to grow its sales at a rapid rate over the coming years. The Temple & Webster share price is fetching $10.71 this morning.
Image source: Getty Images
At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.
This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.
With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:
Tassal Group Limited(ASX: TGR) is now the most shorted share after its short interest rose slightly to 9.9%. This seafood company has been targeted by short sellers due to weak salmon prices and concerns over the Australia-China trade war.
Could the Resmed (ASX:RMD) share price face a similar selloff to Kogan?
Kerry Sun | April 26, 2021 2:29pm |
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The
ResMed Inc(ASX: RMD) share price is as choppy as they come. Its shares have experienced multiple V-shaped recoveries starting with the initial COVID-19 selloff in March last year.
Why it could be sink or swim for ResMed
ResMed will announce its third-quarter FY21 (3Q21) financial and operational results on Thursday, 29 April after the New York Stock market closes.
ResMed has played a critical role through the global pandemic, providing ventilators, masks and circuits to countries in need around the world. This has likely accelerated its earnings, like many other ASX healthcare and tech shares.
Top brokers name 3 ASX shares to buy next week fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
Kogan (ASX:KGN) share price crashes 13% on Q3 update
James Mickleboro | April 23, 2021 1:50pm |
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In afternoon trade, the ecommerce company’s shares are down 13% to $10.80.
This means the Kogan share price is now down 58% from its 52-week high.
Why is the Kogan share price crashing lower?
Investors have been heading to the exits in their droves today after Kogan became the latest ecommerce company to release a disappointing third quarter update.
This follows similarly poorly received releases by
Temple & Webster Group Ltd(ASX: TPW) earlier this week.
What did Kogan report?
For the third quarter of FY 2021, Kogan reported gross sales growth of ~47% and revenue growth of ~65% across its businesses.