A large number of results have been released this week. Some have gone down well with analysts, others have not.
Three ASX 200 stocks that have done enough to get a thumbs up from Morgans are listed below. Here's why its analysts are "happy to buy" these stocks following their results:
NextDC Ltd (ASX: NXT)
Morgans remains positive on this data centre operator. And while it notes that its guidance was softer than expected, it believes management is "laying the foundations for platform growth." It said:
NXT's FY24 result was slightly stronger than expected while FY25 guidance was slightly lower than expected due to a slower ramp-up in revenue and faster ramp-up in scale-up costs, positioning the business for significant expansion. We maintain our ADD rating.
In response to the company's results, the broker has retained its add rating with a trimmed price target of $20.50.
Flight Centre Travel Group Ltd (ASX: FLT)
Another ASX 200 stock that the broker remains positive on is travel agent Flight Centre. The broker was pleased with its results and believes that "margin improvement will underpin strong growth" in the coming years. Commenting on the company's results, the broker said:
FLT's FY24 result was in line with its recent update. The highlights were the increase in its revenue margin to 11.4% vs 10.4% in FY23, the 2H24 NPBT margin of 1.7% and strong operating cashflow up 170% on the pcp. FLT said that its outlook is positive however in line with usual practice, FY25 guidance won't be provided until the AGM in November. We maintain our ADD rating.
Morgans has an add rating and slightly reduced price target of $25.35 on its shares.
Karoon Energy Ltd (ASX: KAR)
A third ASX 200 stock that gets the thumbs up from analysts at Morgans is energy producer Karoon Energy.
While it didn't release the strongest half year result, the broker saw enough in it to remain positive. It was also pleased to see the company announce its first ever dividend. The broker said:
KAR posted a broadly steady 1H24 result, close to our estimates but appeared to come in below Visible Alpha consensus estimates. Management flagged additional maintenance planned for Bauna in an attempt to protect its flagship operation. KAR announced a maiden dividend of 4 cents per share fully franked, representing an annualised ~5% dividend yield. We maintain our ADD rating.
Morgans has put an add rating and $2.50 price target on its shares.
