S&P/ASX All Ordinaries (ASX: XAO) shares are slightly down by 0.06% to 7,920.1 points in early trading on Tuesday. But some stocks are shining brightly under the spotlight of a broker upgrade today.
As reported in The Australian, here are 3 ASX All Ords shares that the experts have just upgraded.
Superloop Ltd (ASX: SLC)
Superloop shares are trading at $1.23 this morning, up 4.68%. The ASX All Ords telecommunications infrastructure share has just received an upgrade from top broker Morgan Stanley. It has raised its 12-month target price by 65% to $1.65. That's a potential 34% upside for investors who buy today.
The dispute between Superloop and its rival Aussie Broadband Ltd (ASX: ABB) continues today with Aussie lodging a notice of Federal Court proceedings seeking injunctions against Superloop's instruction that it sell down its stake from 19.9% to less than 12%.
Lifestyle Communities Ltd (ASX: LIC)
The Lifestyle Communities share price is steady at $15.52 in early trading today. Broker Moelis thinks the ASX All Ords property share has some good growth ahead of it. It has just commenced coverage of the stock with a buy rating and a 12-month share price target of $20. That's a potential 28.9% upside.
This morning Lifestyle Communities announced the completion of the retail component of its fully underwritten 1 for 6.08 pro-rata accelerated non-renounceable entitlement offer. The offer price was $16 per share and shareholders only took up 17.2% of the new shares available. The rest will be allocated to sub-underwriters. The new shares will settle on 20 March and commence trading on 22 March.
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price is $1.96, up 8.96% in early trading despite no news from the company today. But the ASX All Ords retail share has received an upgrade from Morgan Stanley today.
The broker has raised its rating to overweight and upped its target price by 33% to $2.20. That gives investors a potential gain of 39% over the next 12 months.
