Four All Ordinaries Index (ASX: XAO) shares just earned upgrades from top brokers. One ASX All Ords share is a major Aussie bank.
The second is an infrastructure maintenance services provider.
The third provides telecommunications and network services.
And the fourth ASX stock getting a broker upgrade produces fertilisers, explosives and chemicals.
A nicely diversified mix!
Here's what we know.
(Broker data courtesy of The Australian.)
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Four ASX All Ords shares with upgraded outlooks
The first ASX All Ords share that just got a broker upgrade is Bank of Queensland Ltd (ASX: BOQ).
The Bank of Queensland share price is up 3.6% today at $6.92 and up more than 25% over the past 12 months. Bank of Queensland shares also trade on a fully franked trailing dividend yield of 4.9%.
While Macquarie believes shares may be overvalued at current levels, the broker raised its target price for the Bank of Queensland share price by 10% to $5.50.
The second ASX All Ords share that just got a broker upgrade is Incitec Pivot Ltd (ASX: IPL).
The Incitec Pivot share price is up 4.4% today at $3.10. That puts shares back in the green for the full year, up 1%. Incitec Pivot shares also trade on a 4.7% unfranked trailing dividend yield.
And according to RBC, the stock could have a strong run ahead of it. The broker raised Incitec to an outperform rating with a $3.60 price target. That represents a potential upside of more than 16% from current levels.
This brings us to Ventia Services Group Ltd (ASX: VNT), the third ASX All Ords share getting a broker upgrade.
The Venetia share price is up 0.9% at the time of writing at $4.66 a share. That puts the Ventia share price up 67% over 12 months. Ventia shares also trade on a partly franked 4.0% trailing dividend yield.
And RBC believes there are more outsized gains to be had. The broker started Ventia Services at an outperform rating with a $5.25 price target. That represents a potential upside of almost 13% from current levels.
Service Stream Ltd (ASX: SSM) rounds off our list of ASX All Ords shares earning a broker upgrade.
The Service Stream share price is up 2.6% in early afternoon trade today at $1.58. This sees the Service Stream share price up 73% since this time last year. Service Stream shares also trade on a fully franked 2.9% trailing dividend yield.
And RBC thinks this company can deliver another year of strong performance. The broker started Service Stream at an outperform rating with a $1.75 price target. That's almost 11% above the current share price.
