A lot of results have been flooding in this week. So many, it can be hard to keep up, let alone look for buying opportunities.
The good news is that analysts at Morgans have been doing the hard work for you. Listed below are four ASX stocks that they are "happy to buy today" after reviewing the results release. They are as follows:
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Regal Partners Ltd (ASX: RPL)
Morgans thinks that this specialist alternative investment manager could be an ASX stock to buy following its results.
It notes that Regal Partners delivered a result ahead of both the broker's and the market's expectations. It said:
RPL's HY24 result beat both our expectations and those of consensus as management fee revenue and principal investing income continued to grow. The earnings trajectory for recurring management fees should continue to rise, as the business grows FUM to $16.5bn (HY24 Ave. FUM: $11.7bn), while further cost-outs (CY24: $3-4m) will likely increase underlying NPAT. We maintain our ADD rating.
Morgans has an add rating and $4.30 price target on its shares.
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
Dalrymple Bay Infrastructure could be an ASX stock to buy according to Morgans. It is the long-term operator of the Dalrymple Bay Coal Terminal in Queensland.
The broker was pleased with the company's performance and remains positive on its outlook. It said:
1H24 EBITDA growth was predictable as expected, but FFO beat on lower net interest costs than expected. Positive surprises were the 8X expansion cash received and previous NECAP spend yet to be added to the asset base. We maintain our ADD rating.
Morgans has an add rating and $3.28 price target on its shares. It is also forecasting 7%+ dividend yield in FY 2024 and FY 2025.
Tyro Payments Ltd (ASX: TYR)
The broker thinks that this payments company could be another ASX stock to buy.
Its analysts were impressed with the company's performance and margin improvements in FY 2024. Particularly given the tough operating environment. As a result, they have boosted their near term earnings estimates to reflect higher margin assumptions. They said:
While it remains a more difficult top line environment for TYR, this result demonstrated improved profitability through the benefits of TYR's pricing transformation program, and efficiency improvements. We increase our TYR FY25F/FY26F EPS by +15%-25% on improved EBITDA margin assumptions and lower D&A forecasts We maintain our ADD rating.
Morgans has an add rating and $1.46 price target on its shares.
Tasmea Ltd (ASX: TEA)
Its analysts are tipping this recently listed specialist maintenance services provider as an ASX stock to buy.
The broker was pleased to see the company achieve its prospectus forecasts and equally pleased to see the announcement of a new acquisition. It said:
TEA has announced its third acquisition since its Apr-24 IPO. TEA will acquire Future Engineering Group for $84.5m, with the transaction expected to deliver $15.5m of EBIT and be c.21% EPS accretive. The company has achieved its prospectus forecasts, with EBIT exceeding forecasts by 1.5% and NPAT exceeding forecasts by 10.3%. We maintain our ADD rating.
Morgans has an add rating and $2.25 price target on its shares.
