If you are on the lookout for some investment opportunities this week, then it could be worth listening to what analysts at Morgans are saying about the three ASX 200 stocks listed below.
It believes these shares are buys following the release of their results this month. Here's what the broker is saying about these stocks:
BHP Group Ltd (ASX: BHP)
Morgans was impressed with this mining giant's performance in FY 2024 and particularly its strong EBITDA margins. It notes that this led to BHP delivering a result a touch ahead of expectations. The broker commented:
Another strong result from BHP, posting an FY24 EBITDA margin of 54%, close to its decade-average of 55% (10 percentage points above its next closest peer). Strong opex performance, with earnings coming in slightly ahead with a final dividend of US74 cents, for an annualised dividend yield of 5.6% fully franked.
Morgans has put an add rating and $48.30 price target on the ASX 200 stock.
Lovisa Holdings Ltd (ASX: LOV)
Another ASX 200 stock that gets the thumbs up from Morgans is Lovisa. It believes that a significant pullback has created a very attractive buying opportunity for investors. Especially after Lovisa delivered once of the strongest results of earnings season. It said:
There are not many global retailers achieving 17% sales growth and 21% EBIT growth in the current challenging consumer environment, but this is exactly what Lovisa did in FY24. A long period of stellar growth has trained investors to have very high expectations for the business and, while its comparable store sales growth should have been better in FY24, it has continued to deliver and will, in our opinion, continue to do so in the years ahead.
Morgans has an add rating and $36.50 price target on its shares.
Woodside Energy Group Ltd (ASX: WDS)
The broker believes there's a "a lot to be optimistic about" following this energy giant's half year results release this week. It notes that Woodside's result was well ahead of expectations. It said:
A strong 1H24 earnings and dividend result comfortably beating Visible Alpha consensus estimates. WDS maintained an 80% dividend payout ratio, for a solid 1H24 interim dividend of US69 cents. Strong inbound interest from potential partners on Driftwood LNG has given WDS confidence it can assemble a strong partnership on the project.
Morgans has put an add rating and $33.00 price target on the ASX 200 stock.
