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

MotleyFool
02 May 2024

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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10