S&P/ASX All Ords Index (ASX: XAO) shares are up 0.93% to 8,450.5 points on Thursday amid several broker upgrades.
Let's take a look at four of them.
Brokers say buy these 4 ASX All Ords shares
Morgan Stanley raises share price target on ASX 200 bank share
As reported in The Australian, Morgan Stanley has raised its 12-month share price target on ASX 200 bank share Macquarie Group Ltd (ASX: MQG).
The new target price is $250 per share, up from $234 per share.
Macquarie shares are trading at $232.95, up 2.12% on Thursday. Therefore, the new share price target implies a potential 7.3% upside for investors who buy Macquarie today.
The broker maintains an overweight rating on the bank stock.
Morgan Stanley analyst Andrew Stadnik explained:
We think Macquarie offers multi-year double digit earnings growth, justifying the recent re-rating.
The faster Fed cut gives us more confidence in global M&A recovery and we think the street is missing Macquarie's operating leverage plus new growth options.
The US Federal Reserve cut official interest rates by 50 basis points last week. This was a larger-than-expected cut and the first one since early 2020. The ASX All Ords rose by 0.63% on the day of the news.
Broker says buy on ASX All Ords retail share
Bell Potter has restarted coverage on ASX All Ords consumer discretionary share JB Hi-Fi Ltd (ASX: JBH).
The broker has a buy rating on JB Hi-Fi shares and a 12-month price target of $87.
JB Hi-Fi shares are trading at $80.99, up 3.03%. Thus, the new target implies a potential 7.4% upside.
Go overweight on Premier Investments shares
JP Morgan has raised its rating on Premier Investments Limited (ASX: PMV) to overweight.
The broker has a 12-month share price target of $34.50 on Premier Investments.
The ASX All Ords retail share is currently trading at $31.41, up 2.61%.
Broker gives thumbs up on repackaged Web Travel business
Barrenjoy has commenced coverage on the newly configured business, Web Travel Group Ltd (ASX: WEB).
The original company, Webjet Ltd, announced the demerger of its business-to-consumer (B2C) operations, which includes the GoSee and Trip Ninja brands, into a separate listing last week.
The new listing is called Webjet Group (ASX: WJL). It's trading at $1 today, up 1.21%.
The original company will focus entirely on the B2B travel arm, WebBeds. The company has been renamed Web Travel Group Ltd and carries the original ASX company ticker of WEB.
Barrenjoy has given Webjet Travel Group shares an overweight rating and a share price target of $8.
Webjet Travel Group shares are trading for $7.32, up 2.45% today.
