18 Share Tips 8th July 2024 The Bull

18 Share Tips | 8th July 2024 | The Bull https://thebull.com.
au/18-share-tips/8-july-2024/
18 Share Tips – 8th July 2024

Author
ANTHONY BLACK
07 Jul 2024
Tom Bleakley, BW Equities
BUY RECOMMENDATIONS
BUY – Woodside Energy Group (WDS)
This energy giant has been benefiting from increasing crude oil prices. The company was recently
trading on an appealing dividend yield above 7 per cent. Also, WDS recently announced it had
achieved first oil from the Sangomar field in Senegal. Electric vehicle sales growth has been
slower than expected in the US. WDS shares have risen from $26.97 on June 24 to trade at
$29.22 on July 4. The shares are still trading well below $39 achieved in August 2023.
5d 1m 3m 6m 1y 2y 5y 10y Max
1 of 20 10/07/2024, 6:42 am
18 Share Tips | 8th July 2024 | The Bull https://thebull.com.au/18-share-tips/8-july-2024/
TRADE THESE SHARES
BUY – IperionX (IPX)
IPX is building its first titanium manufacturing facility in the US state of Virginia. Titanium is
used in military and aviation parts. About 70 per cent of the global titanium supply chain is
controlled by China and Russia. The company recently raised $A50 million, with the executive
chairman subscribing for $A6.1 million of stock at $A1.91, which shows confidence in the
company. The company is well managed. I own shares in IPX. The shares were trading at $2.39
on July 4.
5d 1m 3m 6m 1y 2y 5y 10y Max
2 of 20 10/07/2024, 6:42 am
TRADE THESE SHARES
HOLD RECOMMENDATIONS
HOLD – Lendlease Group (LLC)
This property developer and investment manager recently entered into an agreement to sell its
US military housing business for $A480 million, a premium to book value. The company is re-
focusing on its Australian operations and international investment management capabilities. The
company’s strategy includes recycling more than $4.5 billion in capital. We suggest holding for
now, but investors should monitor the news flow.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
HOLD – Zip Co (ZIP)
3 of 20 10/07/2024, 6:42 am
Shares in this buy now, pay later company have risen from 41 cents on July 7, 2023, to trade at
$1.66 on July 4, 2024. The company generated revenue of $219.2 million in the third quarter of
fiscal year 2024, up 26.6 per cent on the prior corresponding period. The revenue margin
improved to 9.1 per cent. Possible rising interest rates in Australia is a risk. Keep an eye on
company performance.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
SELL RECOMMENDATIONS
SELL – Goodman Group (GMG)
The share price of this integrated industrial property group has risen from $19.62 on July 7,
2023, to trade at $35.565 on July 4, 2024. In our view, the price has risen too rapidly and is
exposed to a correction if global economies falter. Investors may want to consider trimming
holdings into this run.
5d 1m 3m 6m 1y 2y 5y 10y Max
4 of 20 10/07/2024, 6:42 am
TRADE THESE SHARES
SELL – JB Hi-Fi (JBH)
Australian shoppers have been resilient despite stubborn inflation and cost of living increases.
JBH shares have risen strongly in the past 12 months. However, possible interest rate rises will
target discretionary spending. Investors may want to consider selling some of their holdings at
what we consider a good price.
5d 1m 3m 6m 1y 2y 5y 10y Max
5 of 20 10/07/2024, 6:42 am
TRADE THESE SHARES
Tony Paterno, Ord Minnett
BUY RECOMMENDATIONS
Top Australian Brokers
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• eToro - market-leading social trading platform - Read our review
• IC Markets - experienced and highly regulated - Read our review
• Quadcode Markets - multi-asset CFD broker - Read our review
BUY – Regal Partners (RPL)
RPL is a specialist alternatives investment manager. RPL recently announced it was acquiring
100 per cent of Merricks Capital, a private credit fund manager specialising in hard asset lending
across the agriculture, commercial real estate and industrial sectors. We upgrade our earnings
between 11 per cent and 23 per cent in response to the acquisition and increasing performance
fee expectations. The Merricks acquisition gives RPL further scale and diversification. RPL has
delivered a strong investment performance across several core funds.
6 of 20 10/07/2024, 6:42 am
delivered a strong investment performance across several core funds.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
BUY – Worley (WOR)
Worley is a global engineering and professional services company. At its investor day in May, the
company reported that its factored sales pipeline was up 14 per cent in the 2024 financial year to
March 31. It’s backlog, revenues expected to be recorded, was up 5 per cent in the 2024 financial
year to February 29. Management remained upbeat about the longer-term outlook. The stock
offers value as it’s fallen from $17.43 on January 2 to trade at $14.71 on July 4.
5d 1m 3m 6m 1y 2y 5y 10y Max
7 of 20 10/07/2024, 6:42 am
TRADE THESE SHARES
HOLD – Coles Group (COL)
Total group sales revenue of $10.033 billion in the third quarter of fiscal year 2024 was up 3.4
per cent on the prior corresponding period. The third quarter builds on an improving
performance posted at its first half results. In our view, the return of fresh food inflation should
give the market confidence that industry revenue growth will be high enough to support margin
expansion.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
8 of 20 10/07/2024, 6:42 am
HOLD – APA Group (APA)
APA is an energy infrastructure business. It’s poised to benefit from significant government and
industry investment in the transition to cleaner energy. But the pace of transition remains
uncertain. APA is focusing on re-investing in growth, which is needed to generate higher returns
for investors. The company recently announced it expects to recognise a pre-tax, non-cash
impairment of about $145 million in relation to the Moomba Sydney Ethane Pipeline. However,
there was no change to fiscal year 2024 distribution guidance or underlying EBITDA guidance.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
SELL – Wesfarmers (WES)
The company’s Bunnings hardware chain is a top retailer. Bunnings group revenue of $9.963
billion for the half year ending December 31, 2023, was up 1.7 per cent on the prior
9 of 20 10/07/2024, 6:42 am
billion for the half year ending December 31, 2023, was up 1.7 per cent on the prior
corresponding period. However, housing starts and approvals were recently at 10-year lows,
which impacts construction. Fiscal year 2025 consensus expectations of 4 per cent like-for-like
sales growth is unrealistic, in our view. WES investors may want to consider taking a profit.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
SELL – JB Hi-Fi (JBH)
The consumer electronics giant posted a better than expected first half result in fiscal year 2024,
in our opinion. Again, JBH proved its retailing credentials. The shares have risen from $43.31 on
July 7, 2023, to trade at $61.96 on July 4, 2024. In our view, the valuation is stretched at these
levels. Investors may want to consider cashing in some gains.
5d 1m 3m 6m 1y 2y 5y 10y Max
10 of 20 10/07/2024, 6:42 am
TRADE THESE SHARES
Michael Gable, Fairmont Equities
BUY RECOMMENDATIONS
BUY – Fortescue (FMG)
Shares in this iron ore producer have fallen from $27.30 on May 22 to trade at $22.63 on July 4.
We believe this is an attractive entry level. Weaker iron ore prices in 2024 have contributed to the
share price fall. In past years, FMG has often been oversold on weaker iron ore prices only to
bounce back. The share price charts are displaying signs that FMG shares should move higher
from these oversold levels.
5d 1m 3m 6m 1y 2y 5y 10y Max
11 of 20 10/07/2024, 6:42 am
TRADE THESE SHARES
BUY – Capricorn Metals (CMM)
CMM is a mid-tier gold producer with operations in Australia. We remain positive on the outlook
for gold in the next 12 months. CMM is a low-cost producer with plenty of cash in the bank.
Capricorn’s long-term chart suggests further upside from here. In our view, the shares are trading
at an attractive entry level.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
12 of 20 10/07/2024, 6:42 am
HOLD – Santos (STO)
We expect demand for oil and gas to increase during the next 12 months. Santos is well placed to
capture its fair share of demand. It recently signed an LNG supply contract with Hokkaido Gas
for 10 years, which starts in 2027. The share price chart was recently showing signs that buyer
demand is increasing. The shares have risen from $7.35 on June 18 to trade at $8 on July 4.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
HOLD – WiseTech Global (WTC)
WiseTech develops software for the global logistics industry. The business continues to grow, and
recent acquisitions are also progressing well. The addressable market for WTC remains an
appealing opportunity and we expect current rates of earnings growth to continue.
13 of 20 10/07/2024, 6:42 am
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
SELL – Platinum Asset Management (PTM)
This fund manager experienced net outflows of about $295 million in May 2024. The figure
includes net outflows from the Platinum Trust Funds of about $246 million. The shares have
fallen from $1.63 on July 7, 2023, to trade at $1.057 on July 4, 2024. The shares were priced at
$4.55 on July 5, 2021.
5d 1m 3m 6m 1y 2y 5y 10y Max
14 of 20 10/07/2024, 6:42 am
TRADE THESE SHARES
SELL – Collins Foods (CKF)
This fast food operator generated revenue from continuing operations of $1.488 billion in fiscal
year 2024, an increase of 10.4 per cent on the prior corresponding period. Same store sales grew
by 3.8 per cent at KFC Australia and by 4.9 per cent in KFC Europe. The shares have fallen from
$11.99 on January 2 to trade at $9.03 on July 4. Soaring cost of living increases may pressure the
company’s performance if customers cut back on fast food.
5d 1m 3m 6m 1y 2y 5y 10y Max
TRADE THESE SHARES
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The above recommendations are general advice and don’t take into account any individual’s
objectives, financial situation or needs. Investors are advised to seek their own professional
advice before investing. Please note that TheBull.com.au simply publishes broker
recommendations on this page. The publication of these recommendations does not in any way
constitute a recommendation on the part of TheBull.com.au. You should seek professional advice
before making any investment decisions.
16 of 20 10/07/2024, 6:42 am
R E L AT E D ART I C L E S
1 18 Share Tips – 6 June 2022
2 18 Share Tips – 11 March 2013
3 18 Share Tips – 3 August 2020
4 18 Share Tips – 20 February 2017
5 18 Share Tips – 1 July 2019
17 of 20 10/07/2024, 6:42 am
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18 Share Tips | 8th July 2024 | The Bull https://thebull.com.

18 Share Tips – 8th July 2024

Tom Bleakley, BW Equities

BUY – Woodside Energy Group (WDS)

TRADE THESE SHARES

BUY – IperionX (IPX)

TRADE THESE SHARES

HOLD – Lendlease Group (LLC)

TRADE THESE SHARES

HOLD – Zip Co (ZIP)

TRADE THESE SHARES

SELL – Goodman Group (GMG)

TRADE THESE SHARES

SELL – JB Hi-Fi (JBH)

TRADE THESE SHARES

Tony Paterno, Ord Minnett

Top Australian Brokers

• IG - Extensive product array and user-friendly platforms - Read our review

BUY – Regal Partners (RPL)

delivered a strong investment performance across several core funds.

TRADE THESE SHARES

BUY – Worley (WOR)

TRADE THESE SHARES

HOLD – Coles Group (COL)

TRADE THESE SHARES

HOLD – APA Group (APA)

TRADE THESE SHARES

SELL – Wesfarmers (WES)

TRADE THESE SHARES

SELL – JB Hi-Fi (JBH)

TRADE THESE SHARES

Michael Gable, Fairmont Equities

BUY – Fortescue (FMG)

TRADE THESE SHARES

BUY – Capricorn Metals (CMM)

TRADE THESE SHARES

HOLD – Santos (STO)

TRADE THESE SHARES

HOLD – WiseTech Global (WTC)

TRADE THESE SHARES

SELL – Platinum Asset Management (PTM)

TRADE THESE SHARES

SELL – Collins Foods (CKF)

TRADE THESE SHARES

• The Best CFD Trading Platform in Australia

1 18 Share Tips – 6 June 2022

2 18 Share Tips – 11 March 2013

3 18 Share Tips – 3 August 2020

4 18 Share Tips – 20 February 2017

5 18 Share Tips – 1 July 2019

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The Best ASX Mining Stocks to Buy

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