9 ASX All Ords shares elevated to 'strong buy' status in April

MotleyFool
2024-05-02

It was a poor month for S&P/ASX All Ords (ASX: XAO) shares in April, with a 2.72% fall.

But analysts think these nine ASX All Ords shares have a bright future ahead.

Market analysts on CommSec upgraded all of them to a strong buy rating last month.

9 ASX All Ords upgraded to a strong buy rating in April

Suncorp Group Ltd (ASX: SUN)

The consensus rating on Suncorp shares was upgraded to strong buy on 29 April.

The Suncorp share price is currently $16.32, up 0.46%.

Goldman Sachs has a buy rating and a 12-month share price target of $17.54 on the ASX All Ords banking and insurance stock.

The broker says Suncorp is well-positioned for growth in today's buzzing general insurance market. Insurers are benefiting from strong renewal premium increases and higher investment yields. 

Silver Lake Resources Ltd (ASX: SLR)

Silver Lake shares were upgraded to strong buy on 26 April.

Today, the ASX All Ords gold share is trading for $1.42, up 3.04%.

A strong gold price has pushed many ASX gold stocks higher in recent months. Silver Lake was among the top 5 best performing shares last month.

Australian Unity Office Property Fund (ASX: AOF)

This ASX All Ords real estate share was upgraded to a strong buy rating on 19 April.

Today, the Australian Unity Office Property Fund share price is $1.26, down 1.94%.

Chalice Mining Ltd (ASX: CHN)

Chalice Mining shares were upgraded to strong buy on 19 April.

Today, the Chalice Mining share price is $1.10, down 6.81%.

The ASX All Ords mining share fell 2.02% on Tuesday after the company released an update.

The miner reported $107 million in cash and investments and a $7 million spend in the March quarter, down 55% on the December quarter.

The company also updated its Gonneville Project high-grade sulphide mineral resource estimate to 59Mt @ 2.0g/t 3E2, 0.20% Ni, 0.21% Cu, 0.019% Co.

Macquarie Technology Group Ltd (ASX: MAQ)

Shares in this data centre operator were upgraded to a strong buy rating on 19 April.

Today, the ASX All Ords tech share is $80.27, down 0.86%.

Last month, Macquarie completed an institutional placement to raise $100 million at $72.50 per new share.

Goldman Sachs has a buy rating on the stock with a 12-month share price target of $93.

LGI Ltd (ASX: LGI)

LGI shares were upgraded to strong buy on 18 April.

Today, the landfill gas-to-power generation stock is up 3.45% to $3.00.

The company released a new investor presentation last month.

GUD Holdings Limited (ASX: GUD)

GUD Holdings shares were upgraded to strong buy on 8 April.

Shares in the automotive aftermarket distributor are up 0.20% to $10.22 today.

Bell Potter has a buy rating and a 12-month share price target of $12.80 on GUD.

Hasting Technology Metals Ltd (ASX: HAS)

The consensus rating on Hastings Technology Metals was upgraded to strong buy on 3 April.

Today the ASX All Ords rare earths share is trading at 33 cents, down 2.99%.

The explorer released its quarterly activities report on Tuesday.

A highlight of the March quarter was signing a binding term sheet with Baotou Sky Rock for an integrated processing and offtake arrangement.

Mesoblast Ltd (ASX: MSB)

Mesoblast shares were upgraded to strong buy on 2 April.

Today, the ASX All Ords healthcare share is $1.06, down 4.09%.

Mesoblast released its quarterly update on Tuesday. It reported royalty receipts of US$1.7 million and an operating cash outflow of US$11.6 million for the March quarter.

Mesoblast also announced the exit of chair Joseph R. Swedish, who will be replaced by Jane Bell AM.

Bell Potter has a speculative buy rating on Mesoblast.

The broker recently raised its 12-month share price target to $1.40.

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