While earnings season always brings volatility, the S&P/ASX 200 Index (ASX: XJO) is actually 1.6% higher than a month ago.
This means there are plenty of ASX 200 shares that came out the other side well ahead of expectations.
Three such companies that are enjoying a bull run are:
- Woolworths Group Ltd (ASX: WOW)
- Northern Star Resources Ltd (ASX: NST)
- Woodside Energy Group Ltd (ASX: WDS)
These ASX 200 giants now sit close to 52-week highs.
Holders of these stocks might be considering taking profits, while prospective buyers might be concerned they missed their opportunity.
Here is what experts are saying about these ASX 200 stocks in March.
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Woolworths continues massive recovery
Late last year, Woolworths shares were trading below $26 per share.
Yesterday, the supermarket giant closed at $36.90.
That's good for a recovery of 42% in less than 6 months.
Woolworths shares got a massive boost last month after the company released its half-year financial report.
The ASX 200 company has seen its share price rise 17% since that release.
Recent guidance from brokers indicates Woolworths shares are now trading close to fair value.
A note from Bell Potter following earnings results included an updated price target of $38.25.
That's roughly 3.6% higher than yesterday's closing price, although the recently upgraded dividend may entice some investors.
Gold still the standard
Northern Star Resources shares have continued to ride the wave of investor confidence in gold.
Gold shares have continued to climb as a safe-haven asset amid global geopolitical uncertainty.
The materials sector in general was an earnings season winner.
Northern Star Resources shares are now up 75% in the last 12 months, even with a small dip yesterday.
The ASX 200 stock closed trading yesterday at $30.71.
A recent share price target from Bell Potter indicates the share price could reach $35 in the next year, which would be a further 13% climb.
Woodside hits multi-year highs
Woodside Energy shares closed yesterday at $30.48, which is yet another fresh multi-year high.
Sentiment amongst some experts indicates this could continue as oil prices have spiked to a 4-year high amidst escalating conflict between the United States, Israel, and Iran.
However, target prices from brokers vary significantly.
RBC recently retained its buy rating on Woodside shares with a 12-month price target of $31.50.
Citi has a hold stance with a target of $28, and Ord Minnett has a sell rating on Woodside shares with a price target of $24.
