Broker Notes: Why analysts name Origin Energy, GPT and Airtasker to buy now?
$Origin Energy Ltd (ORG.AU)$: UBS retains a buy call on Origin.
Origin Energy's contract to purchase 250,000 tons of liquefied natural gas annually from Cameron LNG is now in the money, UBS analyst Tom Allen says in a note. The 20-year contract, agreed in 2023, is based on a Henry Hub indexation and fixed tolling fee. "Origin hedges this capacity with a matching supply contract to ENN (for 280,000 tons) which expires December 2023," Allen says. "Our outlook for global LNG expects supply to be exceptionally tight in 2024, which may provide Origin some upside exposure to this contract, also not in our sum of the parts."
$GPT Group (GPT.AU)$: GPT is upgraded to buy from neutral by Citi with a A$4.90 target price.
GPT is now trading at an around 35% discount to net tangible assets and on a forward price-to-earnings multiple of 12.4 times "which in out view is starting to present a reasonable margin of safety in the implied share price relative to book value net tangible assets," analyst Howard Penny says.
$Airtasker Ltd (ART.AU)$: Morgans maintains an add recommendation and A$1.05 target price on the stock.
Airtasker's overall resilience and its achievement in recording positive annual earnings in Australia have set up the online task marketplace for a strong FY 2023, Morgans analyst Steven Sassine says. He tells clients in a note that Airtasker's A$19.4 million in Australian Ebitda was his key takeaway from its FY 2022 result. He points out that this covered the full cost of the group's global head office.
Origin Energy's contract to purchase 250,000 tons of liquefied natural gas annually from Cameron LNG is now in the money, UBS analyst Tom Allen says in a note. The 20-year contract, agreed in 2023, is based on a Henry Hub indexation and fixed tolling fee. "Origin hedges this capacity with a matching supply contract to ENN (for 280,000 tons) which expires December 2023," Allen says. "Our outlook for global LNG expects supply to be exceptionally tight in 2024, which may provide Origin some upside exposure to this contract, also not in our sum of the parts."
$GPT Group (GPT.AU)$: GPT is upgraded to buy from neutral by Citi with a A$4.90 target price.
GPT is now trading at an around 35% discount to net tangible assets and on a forward price-to-earnings multiple of 12.4 times "which in out view is starting to present a reasonable margin of safety in the implied share price relative to book value net tangible assets," analyst Howard Penny says.
$Airtasker Ltd (ART.AU)$: Morgans maintains an add recommendation and A$1.05 target price on the stock.
Airtasker's overall resilience and its achievement in recording positive annual earnings in Australia have set up the online task marketplace for a strong FY 2023, Morgans analyst Steven Sassine says. He tells clients in a note that Airtasker's A$19.4 million in Australian Ebitda was his key takeaway from its FY 2022 result. He points out that this covered the full cost of the group's global head office.
$National Australia Bank Ltd (NAB.AU)$, $Monadelphous Group Ltd (MND.AU)$
Buy: Also known as strong buy and "on the recommended list." Needless to say, buy is a recommendation to purchase a specific security.
Sell: Also known as strong sell, it's a recommendation to sell a security or to liquidate an asset.
Hold (Neutral): In general terms, a company with a hold recommendation is expected to perform at the same pace as comparable companies or in line with the market.
Underperform: A recommendation that means a stock is expected to do slightly worse than the overall stock market return. Underperform can also be expressed as "moderate sell," "weak hold," and "underweight."
Outperform: Also known as "moderate buy," "accumulate," "add," and "overweight." Outperform is an analyst recommendation meaning a stock is expected to do slightly better than the market return.
Buy: Also known as strong buy and "on the recommended list." Needless to say, buy is a recommendation to purchase a specific security.
Sell: Also known as strong sell, it's a recommendation to sell a security or to liquidate an asset.
Hold (Neutral): In general terms, a company with a hold recommendation is expected to perform at the same pace as comparable companies or in line with the market.
Underperform: A recommendation that means a stock is expected to do slightly worse than the overall stock market return. Underperform can also be expressed as "moderate sell," "weak hold," and "underweight."
Outperform: Also known as "moderate buy," "accumulate," "add," and "overweight." Outperform is an analyst recommendation meaning a stock is expected to do slightly better than the market return.
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