A bunch of ASX All Ords shares were upgraded in March to the most positive rating you can get on CommSec, which is a 'strong buy'.
The ratings on CommSec are based on the consensus view of analysts covering the stock.
Let's take a look at a few who were elevated to a strong buy call.
7 ASX All Ords upgraded to a strong buy rating in March
South32 Limited (ASX: S32)
South32 shares were upgraded to strong buy on 8 March.
Today the South32 share price is $3.05, up 1.5%.
Morgans has an add rating and a 12-month share price target of $4.10 on the ASX All Ords mining share. This implies a potential upside of 34% for investors.
Morgans says:
S32 has transformed its portfolio by divesting South African thermal coal and acquiring an interest in Chile copper, substantially boosting group earnings quality, as well as S32's risk and ESG profile.
Qantas Airways Limited (ASX: QAN)
The consensus analyst rating on Qantas shares changed to a strong buy on 7 March.
The ASX All Ords travel share is currently trading at $5.49, up 0.79%.
Goldman Sachs reckons it can go a lot higher than this. The broker has a 12-month share price target of $8.05 on Qantas. This implies a potential upside of 46%.
In a note, the broker said the company's 1H FY24 earnings provided "another proof point on reset earnings capacity".
Johns Lyng Group Limited (ASX: JLG)
Johns Lyng shares were upgraded to a strong buy on 5 March.
The Johns Lyng share price is currently $6.19, down 3.5%. My colleague Tristan has been buying the stock after seeing the company's FY24 first-half results.
According to CommSec, Johns Lyng is delivering superior earnings growth:
Over the last 3 years, earnings growth has averaged 24.84% annually at JLG. This is better than the industry average growth of 2.15%. For fiscal years 2024 and 2025, analysts are estimating that average annualized growth will be weaker than during the last 3 years.
Clinuvel Pharmaceuticals Limited (ASX: CUV)
The consensus analyst rating on Clinuvel Pharmaceuticals shares changed to strong buy on 15 March.
The ASX All Ords share is currently changing hands for $15.21, up 5.9%. Morgans has an add rating and a $22 share price target on the stock.
The company itself reckons it's going for cheap, too, and announced a share buyback in mid-March. Clinuvel is aiming to buy back up to 1.5 million shares over the next 12 months.
Management said the recent share price decline had taken the stock to a market valuation that was "no longer commensurate with the performance and expected outlook for the company".
MMA Offshore Limited (ASX: MRM)
The consensus analyst rating on MMA Offshore shares changed to a strong buy on 28 March.
The share price of the ASX All Ords marine services provider is currently steady at $2.61.
MMA reported one of the biggest profit jumps of the last earnings season with a 339% rise in underlying net profit after tax (NPAT) to $39.5 million in 1H FY24.
Last week the ASX All Ords share rocketed 10% on a $985 million cash bid from Cyan MMA Holdings.
Janison Education Group Limited (ASX: JAN)
The consensus analyst rating on Janison Education shares changed to a strong buy on 15 March.
Shares in the ASX All Ords education technology provider are currently trading at 29 cents, down 3.33%.
According to CommSec, Janison's earnings growth is well ahead:
Over the last 3 years, earnings growth has averaged 55.13% annually at JAN. This is better than the industry average growth of -1.26%. For fiscal years 2024 and 2025, analysts are estimating that average annualized growth will be weaker than during the last 3 years.
Ventia Services Group Limited (ASX: VNT)
The consensus analyst rating on Ventia shares changed to a strong buy on 5 March.
Shares in the ASX All Ords infrastructure maintenance services provider are currently $3.88, up 0.78%.
Ventia delivered a strong set of FY23 results, including a 12.5% increase in net profit after tax and amortisation (NPATA) to $202 million. It's now guiding 7% to 10% growth in NPATA for FY24.
According to CommSec, the company's earnings growth is notable:
Over the last 3 years, earnings growth has averaged 30.50% annually at VNT. This is better than the industry average growth of 2.15%. For fiscal years 2024 and 2025, analysts are estimating that average annualized growth will be weaker than during the last 3 years.
