3 ASX All Ords shares just rerated by top brokers

Top brokers just amended their forecasts for these three ASX All Ords shares. But why?

| More on:
Three people in a corporate office pour over a tablet, ready to invest.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

With the All Ordinaries Index (ASX: XAO) up a healthy 0.3% in afternoon trade on Wednesday, we turn our attention to three ASX All Ords shares that were just rerated by leading brokers.

Two received upgrades, while one was downgraded.

(Broker data courtesy of The Australian.)

Two ASX All Ords shares getting broker upgrades

The first ASX All Ords shares earning a broker upgrade today is Infomedia Ltd (ASX: IFM), a software-as-a-service (SaaS) provider for the auto parts and servicing industry.

The Infomedia share price has been on a downward trend since 10 April but remains up 9.0% in 2024.

Shares are down 1.75% today, trading for $1.57 apiece. At that price, Infomedia shares trade on a fully franked trailing dividend yield of 2.6%.

Bell Potter sees significant upside potential for the company. The broker raised Infomedia shares to a buy rating with a $1.90 price target. That's 21% above current levels.

The second ASX All Ords share getting a broker upgrade is Cooper Energy Ltd (ASX: COE).

Shares in the oil and gas stock are getting hammered today, down 8.2%, trading for 20 cents apiece.

This follows a 4.4% fall yesterday when Cooper Energy released an investor briefing.

On the positive front, the company reaffirmed its FY 2024 guidance. Management is forecasting production of 60.5 TJe/d to 64.0 TJe/d, with production expenses to fall between $57 million and $63 million. Capital expenditure is expected to be $240 million to $280 million.

Canaccord appears to believe the big two-day sell-off is unwarranted. The broker raised Cooper Energy to a buy rating with a 28-cent price target. That represents a potential 40% upside from current levels.

Despite the recent retrace, the ASX All Ords share remains up 57.7% in 2024.

And one stock downgraded

Which brings us to the ASX All Ords share getting a broker downgrade, Whitehaven Coal Ltd (ASX: WHC).

Shares in the ASX coal stock are taking a beating today, down 2.9% to $8.01 apiece.

Longer-term, the Whitehaven share price is up an impressive 37.8% over 12 months. The coal miner also pays some juicy dividends. At the current price, this ASX All Ords share trades on a fully franked dividend yield of 6.1%.

While CSLA cut Whitehaven to an accumulate rating, the broker's $9.70 price target represents a 21% potential upside from current levels.

As always, if you're unsure of how or where to invest your money, seek expert advice.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Infomedia. The Motley Fool Australia has recommended Infomedia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Share Market News

Guess which ASX All Ords share is raising $1.1 billion to back generative AI

The ASX All Ords company announced a billion dollar capital raising. Here’s why.

Read more »

Teamwork, planning and meeting with doctors and laptop for medical, review and healthcare. Medicine, technology and internet with group of people for collaboration, diversity and support in hospital
Healthcare Shares

This ASX All Ords stock is rocketing 20% after accepting a takeover offer

These two diagnostics companies are planning to merge their operations.

Read more »

Two people comparing and analysing material.
Opinions

Are BHP or Wesfarmers shares a better buy?

Should investors be more interested in the owner of Bunnings or Australia’s biggest miner?

Read more »

Woman with a moving box on her head.
Opinions

1 ASX small-cap stock that could benefit from the rental crisis

Noticed the rental market shortage? This may be an opportunity for this ASX small-cap share.

Read more »

A happy boy with his dad dabs like a hero while his father checks his phone.
Opinions

I'd use the Warren Buffett method and buy these 2 ASX shares

Warren Buffett’s advice has steered me to these stocks.

Read more »

A woman jumps for joy with a rocket drawn on the wall behind her.
Broker Notes

This speculative ASX stock could almost double in value

Bell Potter thinks investors could almost double their money with this high risk option.

Read more »

A happy construction worker or miner holds a fistfull of Australian money, indicating a dividends windfall
Share Market News

These ASX 200 mining stocks could rise 30% to 60%

Big returns could be on offer with these miners according to analysts.

Read more »

Scared, wide-eyed man in pink t-shirt with hands covering mouth
Share Market News

These are the 10 most shorted ASX shares

Let's see which shares short sellers are targeting this week.

Read more »