Brokers have reduced their ratings on several ASX shares this week.

Let's review. 

NextDC Ltd (ASX: NXT)

The NextDC share price is $5.48, down 4.8% today.

Over the past month, this ASX tech share has more than halved in value.

Morgan Stanley downgraded NextDC shares to a hold rating today.

The broker slashed its 12-month price target from $19 to $6.70.

This still suggests a potential 22% upside ahead.

Ampol Ltd (ASX: ALD)

The Ampol share price is $38.99, down 2.2% today.

Over the past month, this ASX energy stock has lost 12% of its valuation.

RBC Capital downgraded Ampol shares to a hold rating on Monday.

The broker trimmed its 12-month price target from $46.50 to $44.50.

This implies a potential 14% upside ahead.

Cleanaway Waste Management Ltd (ASX: CWY)

Cleanaway Waste Management shares are steady at $3 on Friday.

Morgans downgraded Cleanaway Waste Management shares from buy to hold.

The broker has a share price target of $3.10, suggesting 3% upside ahead.

Cleanaway has agreed to a takeover by EQT Infrastructure for $3.095 per share.

Regis Resources Ltd (ASX: RRL)

The Regis Resources Ltd share price is $6.07, down 4.9% today.

Over the past month, this ASX 200 gold mining stock has fallen 24%.

Morgans downgraded Regis Resources shares to a hold rating on Wednesday.

The broker has a 12-month price target of $6.46.

This implies a potential 4% upside ahead.

FleetPartners Group Ltd (ASX: FPR)

The FleetPartners share price is $5.12, down 0.4% today.

Over the past month, this ASX 200 financial stock has risen 10%.

Ord Minnett downgraded FleetPartners shares to a hold rating on Tuesday.

The broker has a target price of $5.30, which implies 3% upside ahead.

Clinuvel Pharmaceuticals Ltd (ASX: CUV)

Clinuvel Pharmaceuticals shares are $7.02, down 0.7% on Friday.

Over the past month, this ASX healthcare stock has fallen 15%.

Morgans downgraded Clinuvel shares to a hold call this week.

The broker slashed its 12-month price target from $10 to $7.

This implies a potential 1% downside ahead.

The post 6 ASX stocks receiving analyst downgrades this week appeared first on The Motley Fool Australia.

What did FleetPartners report?

• Received four non-binding, conditional acquisition proposals from separate parties, including SG Fleet, Element, ORIX, and a Sumitomo-led consortium.
• Latest proposal from the Sumitomo Consortium values FleetPartners at $3.85 per share in cash.
• Board agreed to provide all parties—including Sumitomo Consortium—with limited commercial and financial due diligence access.
• No dividends or other distributions to be declared, proposed or paid after the date of the proposal, as a condition of the consortium's offer.
• Board remains open to engaging with new or revised proposals that benefit shareholders.

What else do investors need to know?

FleetPartners has made it clear that each proposal remains indicative and subject to further due diligence and negotiation. The Company's board has not recommended any proposal at this stage, nor has it entered into binding agreements with any party.

Discussions are ongoing, and all potential transactions are subject to mutually accepted confidentiality agreements and further assessment. FleetPartners emphasised that there is no certainty any offer—including the latest consortium proposal—will proceed to a binding agreement.

What's next for FleetPartners?

The board will continue to assess and engage with all interested parties to pursue outcomes in the best interests of shareholders. FleetPartners has reminded investors that shareholders do not need to take any action at this time.

Looking ahead, the company will provide updates in line with ASX continuous disclosure requirements as the process develops. Shareholders are encouraged to stay tuned for further information as offers progress.

FleetPartners share price snapshot

Over the past 12 months, FleetPartners shares have risen 51%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.

View Original Announcement

The post FleetPartners shares in focus after multiple takeover offers appeared first on The Motley Fool Australia.

What did FleetPartners report?

• The Board received indicative, non-binding, and conditional proposals from SG Fleet, Element, and ORIX to acquire 100% of shares in FleetPartners.
• FleetPartners will grant initial limited commercial and financial due diligence access to these bidders, pending confidentiality agreements.
• The Board may also allow due diligence access to other credible bidders should additional proposals arise.
• No binding offers have been submitted at this stage.
• Shareholders are not required to take any action currently.

What else do investors need to know?

The Board's decision follows its evaluation of each proposal, with input from professional advisers and feedback from shareholders. The limited due diligence access aims to allow interested parties to refine their proposals on a more informed basis.

FleetPartners has emphasised that it will continue to engage with SG Fleet, Element, ORIX, and any other parties that may submit worthwhile proposals. However, there is no certainty that a binding offer will eventuate or that any transaction will ultimately take place.

What's next for FleetPartners?

The company's Board will keep assessing potential proposals or alternatives, always with shareholders' best interests in mind. FleetPartners will update the market in line with its continuous disclosure obligations as developments unfold.

For now, shareholders are advised not to take any action until a binding offer is announced or further details are provided.

FleetPartners share price snapshot

Over the past 12 months, FleetPartners shares have risen 55%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 3% over the same period.

View Original Announcement

The post FleetPartners opens due diligence to would-be buyers as Board considers proposals appeared first on The Motley Fool Australia.

What did FleetPartners report?

• Received a non-binding, indicative, and conditional offer from SG Fleet to acquire 100% of shares at $3.60 per share
• Deal is subject to due diligence and various regulatory approvals
• Offer price would be reduced by any future dividends paid by FleetPartners
• FleetPartners Board currently evaluating the proposal with advisors

What else do investors need to know?

SG Fleet's offer is not legally binding and comes with a suite of conditions, including thorough due diligence and regulatory approvals from bodies such as FIRB, ACCC, and NZCC. There is currently no guarantee that this indicative proposal will progress to a formal binding offer or result in a transaction.

FleetPartners shareholders are not required to take any action at this stage. The board emphasises its ongoing confidence in the company's current strategy and intention to continue delivering shareholder value.

What's next for FleetPartners?

The FleetPartners Board, alongside its financial and legal advisors, will assess the proposal and update shareholders as developments occur. For now, the company remains committed to its standalone strategy focused on growth and robust returns. FleetPartners has appointed UBS as its sole financial adviser and Herbert Smith Freehills Kramer as its legal adviser.

FleetPartners share price snapshot

Over the past 12 months, FleetPartners shares have risen 3%, slightly outperforming the All Ordinaries Index (ASX: XAO), which has risen 2% over the same period.

View Original Announcement

The post FleetPartners receives $3.60 takeover proposal from SG Fleet appeared first on The Motley Fool Australia.

At the time of writing, the FleetPartners share price is up 3.02% to $3.07.

The latest gain takes the ASX financial stock's rise in 2026 to around 9%.

FleetPartners provides vehicle leasing, fleet management, and salary packaging services across Australia and New Zealand.

Investors are responding to the company's third-quarter business update released this morning.

Here's what FleetPartners reported.

New business growth picks up

FleetPartners said new business written rose 8% during the 9 months to June compared with the same period last year.

Growth accelerated during the third quarter, with new business written up 24% from a year earlier. The company wrote $246 million of new business during the quarter.

FleetPartners also completed $14 million of sale-and-leaseback transactions, while its June pipeline was 27% above the average level recorded during the first half.

The stronger result has prompted management to upgrade its FY26 new business written outlook from marginal growth to high-single-digit growth.

The company said the economic environment remains challenging, but new customer wins, contract renewals, and continued growth from smaller fleet customers are supporting the pipeline.

Core income continues to rise

Assets under management or financed (AUMOF) increased 6% year to date, while core income grew 7%.

FleetPartners had around 67,000 funded vehicles at the end of June, up 2% from March.

The novated leasing business also performed well, with new business written rising 20% from the prior corresponding period.

Management said stronger electric vehicle demand, increased sales activity, and the acquisition of Remunerator supported the growth.

The company still expects AUMOF to grow at a mid-single-digit rate in FY26, while its core margin should remain relatively stable.

Used-car market weighs on lease-end income

FleetPartners sold 1,618 vehicles during the quarter, a 31% reduction from the previous quarter. End-of-lease income came in at $8 million, while profit per unit fell to $4,951.

The company chose to hold back vehicles rather than accept weaker prices in a softer used-car market. Inventory increased by 448 units during the quarter as a result.

FleetPartners expects sales volumes and lease-end income to improve in the fourth quarter as the winter slowdown eases. However, lease-end income is still expected to remain below the levels recorded in the first two quarters.

Why are FleetPartners shares rising?

The upgrade to FY26 new business written is helping drive today's gain.

FleetPartners is also growing its funded asset base and core income, while its pipeline remains well ahead of the first-half average.

The used-car market is still weighing on lease-end income, although management avoided selling more vehicles into weaker pricing.

The final quarter will show whether better disposal volumes can lift lease-end income as management expects.

The post Why this ASX financial stock is moving higher today appeared first on The Motley Fool Australia.

Those reasons are the potential for more capital gains, along with very healthy dividends, now and into the future.

We'll go into more detail about where Macquarie sees both heading shortly.

Firstly, let's have a look at what FleetPartners reported last week.

Solid operating result

The vehicle leasing and fleet management company said in its statement to the ASX that its first half statutory net profit for the six months ending March 31 was up 7% on the previous corresponding period to $37.1 million.

The group delivered new business writings of $367 million for the half, down 1%, however the company said momentum was strong towards the end of the half, while the April figures were 27% higher than the monthly average for the first half.

FleetPartners said it had $4.5 million in net cash at the end of the half and no debt maturing until October 2028.

The company said it remained focused on its three main target markets:

In Large Fleets, the Group's value proposition and go-to-market strategy continue to resonate, underpinned by a customer partnership model that combines deep relationships, market-leading service and specialist expertise. In Small Fleets, our strategy remains centred around omni-channel distribution, with strong success in digital direct channels validating the scale of the addressable opportunity. In Novated, recent strategic initiatives, in conjunction with market demand for BEVs, have supported increased enquiry and order volumes in 2Q26. This has been complemented by the acquisition of Remunerator, which is performing in line with expectations. The Group is focused on increasing employer engagement and eligible employee penetration.

FleetPartners announced a $20 million share buyback on March 26, with just $900,000 worth of shares repurchased to date.

It also declared a fully-franked interim dividend of 11.9 cents per share payable on June 1, which represented a grossed-up yield of 13% at the time of publication.

On the outlook, the company said market conditions were challenging, and it expected "marginal growth" in new business writings.

Shares looking cheap

The analyst team at Macquarie ran the ruler over the FleetPartners result, and they liked what they saw.

They said the company was trading at an "undemanding multiple", and they have a price target of $3.41 on the company's shares compared with $2.87 currently.

On the dividend front, Macquarie is forecasting a dividend yield of 8.3% this financial year, followed by 8% and 7.5% the following years.

FleetPartners is valued at $601.5 million.

The post Macquarie has flagged this big ASX dividend payer to increase in value too appeared first on The Motley Fool Australia.

What did FleetPartners report?

For the six months to 31 March 2026, revenue rose 4% to $392.5 million, while statutory net profit after tax (NPAT) increased 7% to $37.1 million.

Earnings per share (EPS) also saw a strong lift, up 14% to 17.3 cents per share. On an underlying basis, net profit after tax excluding amortisation (NPATA) came in at $39.6 million, up 2% on the prior year.

Whilst the results may look underwhelming at first glance, they highlight the strength of FleetPartners' business model, which is built on recurring, lease-based income. Growth in the company's lease portfolio continued to underpin earnings, generating stable cash flows despite softer end-of-lease income during the period.

The acquisition of salary packaging provider Remunerator also contributed to performance, strengthening the group's position in the growing novated leasing market. Demand in this segment remains solid, particularly as electric vehicle incentives continue to drive uptake.

Management noted that while new business volumes were broadly flat, momentum improved toward the end of the half, with April pipeline activity reaching its highest level in 12 months.

FleetPartners continues to stand out for its cash generation and disciplined capital management. The company declared a fully-franked interim dividend of 11.9 cents per share, consistent with its target payout ratio of 60% to 70% of NPATA.

This sits alongside an ongoing share buyback program, reflecting confidence in both the balance sheet and future earnings. Cash conversion remained strong, highlighting the quality of earnings and the capital-light nature of the model.

The balance sheet also remains robust, with ample liquidity and diversified funding sources supporting future growth.

Outlook remains steady

Looking ahead, FleetPartners expects modest growth in new business writings through FY26, with margins remaining broadly stable. While macroeconomic conditions remain mixed, the company's limited exposure to fuel price volatility and its annuity-style income provide a degree of insulation.

Overall, the result reinforces FleetPartners' position as a resilient, cash-generative business, and these could be key factors behind the positive market reaction.

The post FleetPartners shares surge 6% on half-year results appeared first on The Motley Fool Australia.

This comes after the company revealed a new plan to return cash to shareholders.

At the time of writing, shares in the fleet management provider are up 5.51% to $2.49.

Let's unpack what the company released today.

FleetPartners announces $20 million share buyback

In its ASX announcement, FleetPartners confirmed that its board has approved an on-market share buyback of up to $20 million.

The company said the move reflects strong confidence in its balance sheet and its ability to continue generating cash in the future.

Management also noted that the buyback is consistent with FleetPartners' dividend policy, which targets a payout ratio of 60% to 70% of earnings.

The buyback will be carried out under the Corporations Act and ASX listing rule requirements. Management expects the program to begin no earlier than 14 days after today's announcement.

Why companies buy back shares

Share buybacks are often viewed positively by investors because they reduce the number of shares on issue.

When a company repurchases its own shares, it effectively spreads future profits across a smaller base of shareholders. This can lift earnings per share (EPS) over time and potentially support the share price.

Buybacks can also signal that management believes the company's shares are trading below their intrinsic value.

In FleetPartners' case, the move may also reflect growing financial confidence after several years of operational progress across its core businesses.

A closer look at FleetPartners

FleetPartners is a provider of fleet management services in Australia and New Zealand. The company helps businesses manage vehicle fleets through services such as vehicle acquisition, leasing, maintenance, and remarketing.

The group also provides novated leasing and salary packaging services to individual customers.

FleetPartners currently has a market capitalisation of about $537 million and roughly 216 million shares on issue.

The stock also offers an attractive dividend yield of around 5.46% based on the current share price.

However, shares have been under pressure recently. They have fallen about 8% over the past year and remain roughly 12% lower in 2026 so far.

What could happen next

The newly announced buyback could help support the FleetPartners share price in the coming months.

Capital management initiatives such as buybacks often attract investor interest. This could become even more significant if FleetPartners continues pairing the buyback with consistent dividends and solid cash generation.

If FleetPartners continues delivering stable earnings and strong cash flow, its capital return strategy could become a key driver of future shareholder returns.

The post Why investors are piling into this ASX stock today appeared first on The Motley Fool Australia.

At the time of writing, the FleetPartners share price is up 4% to $2.98 following the update.

What did FleetPartners report?

• Assets Under Management or Financed (AUMOF) reached A$2.30 billion, representing around 2% growth year on year (3% excluding FX movements)
• Core Income (net operating income pre End-of-Lease (EOL) and provisions ) grew 6%, driven by growth in average AUMOF
• The company has concluded its on-market share buyback program ($25.3 million was paid in 2H25) and is returning to dividend payouts
• The group's payout ratio for capital returns back to shareholders will increase from 55% – 65% of NPATA to a new range of 60% – 70% of NPATA

Acquisition of Remunerator

In addition to its strong underlying performance, FleetPartners also confirmed the strategic acquisition of Remunerator (expected to be completed in 1H26).

Remunerator is a salary packaging and novated lease provider, and it will be acquired for an upfront consideration of $31.4m, implying a 5.9x EBITDA multiple. There is a further $8m in deferred and contingent consideration.

The acquisition will be funded by a combination of cash and debt.

Management expects the acquisition to be EPS accretive pre-synergies, and the rationale is that Remunerator broadens FleetPartners' range of customer offerings whilst also expanding its growth channels.

What next for FleetPartners?

Management struck a relatively upbeat tone for FY26 despite trading conditions expected to be challenging through 1H26. They highlighted:

• A continued disciplined approach to opex management with $95m – $96m expected in FY26 (implying a 2% – 3% increase)
• Core margins to remain stable relative to AUMOF growth
• End of lease income to also remain stable, with higher units sold in FY26 expected to offset a decline in profit per unit

FleetPartners share price snapshot

Over the past 12 months, the FleetPartners share price has increased 8%, reflecting renewed confidence in the company's post-transformation outlook. With a clearer earnings base, reinstated dividends, and a positive medium-term outlook, investors appear cautiously optimistic about the year ahead.

The post FleetPartners shares jump 4% on FY25 earnings appeared first on The Motley Fool Australia.

The team at Macquarie said they expected new vehicle demand to continue improving after growing 0.7% year over year in October, with a forecast that volumes will grow by the low to mid-single digits in the second half of calendar 2025.

Car sellers in the spotlight

Macquarie has an outperform rating on dealers Eagers Automotive Ltd (ASX: APE) and Autosports Group Ltd (ASX: ASG), but said on balance they prefer Eagers.

As they said in their note to clients:

Eagers is our preference given the scale of its organic and inorganic growth opportunities. Its acquisition of CanadaOne provides a platform for further North American inorganic growth, in what is a highly fragmented market.  

The Macquarie team expect Eagers' organic growth to be bolstered by the strength of electric vehicle BYD sales in Australia, as well as from an agreement struck as part of the CanadaOne deal to collaborate with Japan's Mitsubishi Corporation.

Eagers recently announced it would buy a 65% stake in CanadaOne for $1.04 billion.

Macquarie has a price target of $29.98 on Eagers stock and $3.63 for Autosports Group.

Aftermarket sales strong

In the 4X4 accessories market, the Macquarie team has an outperform rating on Amotiv Ltd (ASX: AOV) and ARB Corporation Ltd (ASX: ARB), saying Amotiv's valuation is attractive and its FY26 guidance is "achievable".  

They added:

We remain positive on ARB's offshore growth opportunities, with export segment sales growth of 16.4% in FY25 increasing to 17.6% in its recent first quarter AGM update.

They have a price target of $44.90 on ARB shares and $11.66 on Amotiv shares.

In the automotive financing sector, the Macquarie team likes three companies, in descending order of preference: Fleetpartners Group Ltd (ASX: FPR), SmartGroup Corporation Ltd (ASX: SIQ), and McMillan Shakespeare Ltd (ASX: MMS).

Their price targets for the companies are $3.68, $8.99, and $19.69, respectively.

In other automotive news, used car digital platform company Carma Ltd (ASX: CMA) listed on the ASX this week after raising $100 million at $2.70 per share.

The shares have traded lower since their Wednesday listing and are now changing hands for $2.45.

Carma is differentiated from its peers in the sector by offering a testing and reconditioning service for cars sold on the platform, ensuring customers can buy with confidence.

As well as selling cars to retail customers, the platform also conducts wholesale auctions.

The post Macquarie has singled out the automotive stocks they say are worth a look appeared first on The Motley Fool Australia.

Shares in the vehicle fleet leasing and management company closed yesterday trading for $2.76. In morning trade on Thursday, shares jumped to $3.03 each, up 9.8%. After some likely profit-taking, shares are changing hands for $2.91 apiece in afternoon trade, up 5.4%.

For some context, the ASX 300 is down 0.5% at this same time.

Here's what looks to be spurring investor interest today.

ASX 300 industrials stock attracting more interest from Mitsubishi

As the Motley Fool reported this morning, Fleetpartners revealed that Mitsubishi Motors Corp (TYO: 7211) has increased its holding in the company to 19.93%.

Mitsubishi shelled out $3.10 per share for its increased holdings. That's more than 12% above Wednesday's closing price for the ASX 300 industrials stock.

Investors will also have taken note that this represents a material increase from Mitsubishi's prior holding of about 5.01% of Fleetpartners stock. The Japanese company acquired that stake in June 2024.

Despite the sizeable increase, the company said that it had no current intention to acquire control of or make a takeover offer for the ASX 300 industrials stock.

The original stake

As mentioned, Mitsubishi acquired its initial 5.01% stake in the ASX 300 industrials stock on 9 June 2024.

At the time, Tatsuo Nakamura, executive vice president of Mitsubishi Motors, said:

Australia is one of our core markets, and we have made this investment to further expand our sales channels and business opportunities in the country. We look forward to working with Fleetpartners to grow our businesses.

Fleetpartners' CEO Damian Berrell also sounded a positive note on Mitsubishi's big share purchase at the time.

"We're a strong supporter of market consolidation and would be open to any form of market consolidation," he said.

"Provided that it's accretive to our investors and the synergies would certainly justify it," he added.

With today's big surge higher for the ASX 300 industrials stock, it would appear that investors believe that Mitsubishi Motors' latest major purchase of Fleetpartners shares will indeed add value to the company.

Fleetpartners shares remain down about 1% since this time last year. But shares have rebounded strongly from the recent 9 April closing lows of $2.40, now up more than 21%.

What does Fleetpartners do?

If you're not familiar with the ASX 300 stock, Fleetpartners provides vehicle leasing, fleet management, heavy commercial vehicles, salary packaging, and novated leasing services.

The company listed on the ASX on 22 April 2015.

The post Why did the ASX 300 industrial stock jump 10% today? appeared first on The Motley Fool Australia.

Under Australian corporate law, if an entity moves beyond 19.99% ownership of a listed entity, it must launch a full takeover bid.

Mitsubishi said in a statement released on Thursday that it had increased its stake in the vehicle leasing and fleet management company as of September 17.

In June last year, Mitsubishi Motors acquired 5.01% of FleetPartners' total issued shares. With the aim to continue to strengthen the strategic relationship between the organisations and expand operations in Australia and New Zealand, Mitsubishi Motors has increased its investment to 19.93%. As part of the acquisition of the shares, Mitsubishi Motors represented to shareholders it has no current intention to acquire control or make a takeover offer for FleetPartners.

FleetPartners, in its own statement to the ASX, said Mitsubishi had bought the new shares at $3.10, a significant premium to the company's share price of $2.91, which was up 5.6% on the day. ASX data shows that 31 million FleetPartners shares were traded on Wednesday, compared with the usual volume of about 636,000 shares.

FleetPartners also has a share buyback underway, worth up to $25.3 million over the second half of the year.  

FleetPartners operates in sectors including novated leasing, business vehicle leasing, and fleet management.

Tatsuo Nakamura, Executive Vice President of Mitsubishi Motors, said: "Australia and New Zealand are core markets for Mitsubishi Motors, and our strengthened relationship with FleetPartners reflects our continued investment and strategic commitment to these regions. We look forward to continuing to work with FleetPartners to collectively grow our businesses".

Over the past year, FleetPartners shares have traded between $2.38 and $3.37.

Profit performance moderates

In May, the company released its results for the first half of the year to the end of March, reporting a net profit of $38.9 million, down 7%.

The company's assets under management increased 6% to $2.3 billion, and the company finalised its Accelerate business transformation program during the half.

The company said at the time that as it moves forward and as the benefits of that program were realised, "it expects to achieve continued asset growth, reflective of the combined strength of recent tender wins, and new and existing customer activity".

FleetPartners has not paid a dividend since January 2019.    

The post FleetPartners shares jump on Mitsubishi interest appeared first on The Motley Fool Australia.

That's because the team at Macquarie Group Ltd (ASX: MQG) believes that it could be destined to deliver market-beating returns for investors over the next 12 months.

Let's see which ASX stock the broker is currently tipping as a buy to clients.

Which ASX All Ords stock?

The stock in question is Fleetpartners Group Ltd (ASX: FPR).

FleetPartners is a leading provider of vehicle leasing, fleet management, heavy commercial vehicles, salary packaging, and novated leasing.

Macquarie notes that the ASX All Ords stock recently released its third quarter update. It was pleased with the company's performance, highlighting that it was a strong period for tender wins. It said:

3Q25 business update: AUMOF (+5%), despite a 17% decline in NBW. FPR noted the period was one of the group's "most successful tender periods, with a high number of mandate wins, despite disruption." Accelerate program completed with $6m+ annualised cost savings.

And while there are some concerns over arrears, Macquarie appears confident that this will be largely resolved by the time its results are released. It adds:

Arrears remain elevated as a result of "temporary administrative impacts associated with cutover to the Accelerate platform". FPR expects the level of arrears to largely be resolved by FY25 results. The underlying portfolio quality "remains strong."

Big potential returns

According to the note, Macquarie believes the ASX All Ords stock is cheap at current levels and sees potential for it to rise strongly between now and this time next year.

In response to the third quarter update, the broker has retained its outperform rating with a trimmed price target of $3.68.

Based on its current share price of $2.88, this implies potential upside of 28% for investors over the next 12 months. No dividends are expected over the forecast period.

Commenting on its outperform rating, the broker said:

Outperform. FPR is trading at an undemanding multiple (<10x PE). Operating conditions support earnings and are largely offsetting ongoing normalisation of EOL. The buyback is supporting EPS performance.

Valuation: TP -2.3% to $3.68 (previously $3.77), reflecting business roll forward, earnings changes and updated share count. Catalysts: AUMOF growth boosting underlying earnings performance, as margin have largely stabilised.

The post Macquarie forecasts 28% upside for this ASX All Ords stock appeared first on The Motley Fool Australia.

But broker Macquarie is forecasting ho-hum dividend yields from the big four banks this year.

Specifically, 2.8% for Commonwealth Bank of Australia (ASX: CBA) shares, 4.6% for National Australia Bank Ltd (ASX: NAB) shares, 4.8% for Westpac Banking Corporation (ASX: WBC) shares, and 5.7% for Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares, based on stock prices at the time of writing.

Macquarie also has uninspiring ratings on these ASX bank stocks — namely a neutral rating on ANZ and NAB shares and an underperform rating on CBA and Westpac shares.

The broker also expects the share prices of all four big bank stocks to fall over the next 12 months.

If you want to heed Macquarie's advice and avoid the bank stocks for now, what should you buy instead?

Investing in the ASX financial sector is still a sound option, given it's the market's second biggest sector and is known for good dividends.

Lots of ASX financial shares also offer appealing potential upside over the next 12 months, according to the broker.

14 ASX financial shares set to outperform: broker

According to a new note, Macquarie has given an outperform rating to 14 of the ASX financial shares under its coverage.

Some of them are offering more potential share price growth than others.

Here are some examples.

Liberty Group (ASX: LFG)

The broker has a 12-month price target of $4.40 on this ASX financial share.

The Liberty share price finished yesterday's session at $3.12.

The broker's forecast implies a potential 41% upside from here.

QBE Insurance Group Ltd (ASX: QBE) 

Macquarie has a share price target of $23 on this insurance giant.

QBE shares closed at $22.37 on Thursday, implying an almost 3% upside on offer to investors from here.

GQG Partners Inc (ASX: GQG) 

Macquarie has a share price target of $2.90 on GQG.

The GQG share price at the market close yesterday was $2.24.

The broker's forecast implies a potential 29% upside ahead.

Pinnacle Investment Management Group Ltd (ASX: PNI)

Macquarie has a 12-month target of $27.37 on Pinnacle Investment shares.

Pinnacle Investment shares closed at $19.92 yesterday, suggesting a possible 37% upside from here.

Navigator Global Investments Ltd (ASX: NGI)

The broker has a 12-month target of $2.37 on this ASX financial share.

Navigator shares closed at $1.75 on Thursday, indicating a potential 36% capital gain ahead.

Fleetpartners Group Ltd (ASX: FPR)

Macquarie has a 12-month target of $3.77 on the stock of this car fleet management company.

Fleetpartners shares closed at $2.99 on Thursday, implying 26% potential growth over the next year.

Qualitas Ltd (ASX: QAL)

The broker has a target price of $3.10 on this alternative real estate investment manager.

Qualitas shares closed at $2.74 yesterday, suggesting a potential 13% capital gain ahead.

AMP Ltd (ASX: AMP)

The broker has a 12-month target of $1.34 on this ASX financial share.

The AMP share price closed at $1.31 yesterday.

The broker's forecast implies AMP shares are almost fully valued, with just 2% potential growth ahead.

The post 8 alternative ASX financial shares to buy instead of bank stocks: broker appeared first on The Motley Fool Australia.

No one knows better how a company is actually faring financially than the people who count the money as it rolls in and out. As such, when these insiders buy up shares, it is a useful sign to the markets that said company might represent a buying opportunity.

So today, let's talk about three ASX financial shares that are currently experiencing this very situation.

Three ASX financial shares that insiders are buying

Fleetpartners Group Ltd (ASX: FPR)

First up, we have fleet vehicle leasing company Fleetpartners. An ASX filing from 5 February last week shows that board member and non-executive director Mark Blackburn recently picked up a big tranche of shares.

According to the filing, Blackburn purchased an additional 10,989 Fleetpartners shares on 3 February last week. Blackburn indirectly purchased these shares in an on-market trade at an average price of $2.73 each through a superannuation fund, implying a total buy value of roughly $30,000.

This takes Blackburn's total stake in Fleetpartners to 22,929 shares, which would be worth around $64,660 at the current share price (at the time of writing) of $2.82.

Fleetpartners shares have had a rough 12 months, with the company down 13.5% since this time last year.

Hearts and Minds Investments Ltd (ASX: HM1)

Next, let's discuss ASX listed investment company (LIC) Hearts and Minds Investments. An ASX notice from last week revealed that Hearts and Minds board member and director Guy Fowler OAM has recently made a big investment in the company.

The ASX filing shows that Fowler indirectly bought (again, through a super fund) an additional 63,920 Hearts and Minds shares on 3 February in an on-market trade. The director paid an average price of $3.26 for these shares, implying a buy value of $208,597.

This takes Fowler's stake in Hearts and Minds to just under 1.39 million shares, which would be worth approximately $4.74 million at the current share price of $3.41.

The Hearts and Minds share price has risen by 31.8% over the past 12 months.

BKI Investment Company Ltd (ASX: BKI)

Finally, we have another LIC to discuss in BKI Investments. This offshoot of Brickworks Ltd (ASX: BKW). In BKI's case, we have a 4 February ASX filing that reveals independent non-executive director Ian Thomas Huntley has recently gone on a bit of a buying spree.

The notice tells us that Huntley indirectly picked up an additional 286,000 BKI shares over 29, 30 and 31 January last month, through a private company called Huntley Group Investments Pty Ltd.

Huntley spent a total of $498,679 on these shares, implying an average buy price of $1.74 per share. This takes Huntley's total investment in BKI up to 11.87 million shares, or $20.3 million.

BKI Investments shares have stagnated over the past 12 months, slipping by 3.01% since this time last year.

The post 3 ASX financial shares being bought up by insiders appeared first on The Motley Fool Australia.

One is an online travel company that is tipped for gains of more than 44%.

The other is a vehicle fleet leasing and management company that could soar 17% from current levels.

Which promising ASX All Ords shares are we talking about?

Read on!

(Broker data courtesy of The Australian.)

Two promising ASX All Ords shares

The first ASX All Ords share tipped for some seriously outsized gains is online travel agency business Webjet Group Ltd (ASX: WJL).

As you're likely aware, Webjet was recently spun off from Web Travel Group Ltd (ASX: WEB). Webjet began trading as an independent entity on 23 September.

Webjet shares are up 1.1% in morning trade today, changing hands for 90 cents apiece.

That puts shares up 12.5% from the closing price on its first day of trading.

And RBC sees a lot more potential gains on offer for this ASX All Ords share.

The broker started Webjet at an outperform rating with a $1.30 price target on its shares. That represents a potential upside of more than 44% from current levels.

Webjet hasn't released any price-sensitive news since listing. But we won't have to wait long for those first results.

Webjet is hosting a webcast briefing tomorrow, 20 November. Managing director Katrina Barry and CFO Layton Shannos are scheduled to review the company's half-year results and outlook into 2025.

Which brings us to the second ASX All Ords shares tipped for some solid gains, Fleetpartners Group Ltd (ASX: FPR).

Shares in the vehicle fleet leasing and management company are up 0.7% at the time of writing, trading for $3.12 each. That puts the share price up 13% over 12 months.

And Macquarie thinks the year ahead will bring more gains for shareholders.

The broker raised Fleetpartners to an outperform rating with a $3.65 price target. This represents a potential upside of 17% from current levels.

Fleetpartners reported its full-year results yesterday.

Investors were clearly pleased, sending the ASX All Ords share up 4.7% by the closing bell.

Highlights from the 12 months included a 21% year on year increase in new business writing to $924 million, and record assets under management or financed of $2.3 billion.

Net profit after tax (excluding amortisation) declined 1% from FY 2023 to $87.7 million impacted by a 6% increase in the company's operating expenses.

The ASX All Ords share also may have gotten a boost with the announcement of a new first-half 2025 share buyback of up to $30 million.

The post 2 ASX All Ords shares just upgraded by top brokers (one with 44% upside!) appeared first on The Motley Fool Australia.

The outperforming company in question is Fleetpartners Group Ltd (ASX: FPR).

Shares in the vehicle fleet leasing and management company closed Friday trading for $2.96. In late morning trade today, shares are swapping hands for $3.25 apiece, up 9.8%.

Here's what's stoking investor interest.

ASX All Ords share on the growth path

The ASX All Ords shares is flying higher today on the back of the company's full-year FY 2024 results.

On the growth front, Fleetpartners reported $924 million of new business writing, up 21% from FY 2023.

Management attributed this success to "the strong execution of Strategic Pathways", alongside ongoing improvements in the supply of new vehicles. Strategic Pathways refers to the company's strategy to drive increased growth.

The company also reported record assets under management or financed of $2.3 billion, 11% higher than in September 2023.

In other core financial metrics, net operating income (pre end of lease income and provisions of $158.7 million) was up 5% year on year. End of lease income was down 4% to $70.6 million.

Meanwhile, net profit after tax (excluding amortisation) of $87.7 million slipped 1% from FY 2023.

Full-year profits were impacted by a 6% increase in operating expenses to $89.2 million, though management flagged that expenses came in at the lower end of expectations amid the company's ongoing focus on cost management.

The ASX All Ords share also announced a 1H 2025 share buyback of up to $30 million.

Since launching its share buyback program in FY 2021, Fleetpartners noted that it has returned $225 million to shareholders and cancelled 90 million shares. That represents 29% of the shares on issue when the buyback program kicked off.

Now what?

Looking to what could impact the ASX All Ords share in the year ahead, the company reported it is in a strong position from a financial and strategic perspective. Fleetpartners has no net debt, with net cash of $31.3 million.

"New business writing is showing significant strength, which is expected to support continued asset and revenue growth in future periods," management stated.

For FY 2025, management added:

The group plans to continue its focus on EPS [earnings per share] growth through disciplined capital management, including on-market share buy-backs and investment in strategic opportunities such as Accelerate, that are expected to deliver strong returns and sustainable EPS benefits for shareholders.

With today's gains factored in, the ASX All Ords share is up 15% over 12 months.

The post Guess which ASX All Ords share is soaring on 21% FY 2024 growth appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up almost 10% to $1.25. This is despite there being no news out of the uranium miner on Monday. Though, it is worth noting that most ASX uranium stocks are racing higher today. This could have been driven by short sellers buying back shares to close positions after some sizeable declines in recent weeks. For example, Deep Yellow shares are still down 18% since this time last month despite today's rebound.

Fleetpartners Group Ltd (ASX: FPR)

The Fleetpartners share price is up 7.5% to $3.18. This follows the release of the vehicle leasing, fleet management, and salary packaging company's full year results this morning. Fleetpartners, formerly known as Eclipx, reported new business writings of $924 million for the 12 months. This represents a 21% increase on FY 2023 and was driven by the strong execution of Strategic Pathways, aided by continuing improvements in the supply of new vehicles. Net profit after tax excluding amortisation was down 1% to $87.7 million but cash earnings per share increased 9%.

New Hope Corporation Ltd (ASX: NHC)

The New Hope share price is up 3% to $4.84. This has been driven by the release of the coal miner's first quarter update. For the three months ended 31 October, New Hope reported a 41% increase in underlying EBITDA to $304.6 million. This was driven by a combination of production growth, higher realised prices, and lower unit costs at the Bengalla mine. Management also released its guidance for FY 2025 and revealed that it expects to deliver strong growth in production and lower unit costs.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is up 8% to 54 cents. This morning, this gold miner announced that the New Zealand Parliament has passed the second reading of the Fast-track Approvals Bill. This brings the regulatory process one step closer to becoming law. CEO Damian Spring said: "Straight off the back of our successful PFS release, and its strong financial results, we're encouraged to see advancements in consenting certainty. This development is a significant step in attracting foreign investment and reinvigorating resource banking in NZ. With strong funding and support from key stakeholders, we remain well-positioned to advance the project towards a Final Investment Decision (FID) by mid-2025."

The post Why Deep Yellow, Fleetpartners, New Hope, and Santana shares are storming higher appeared first on The Motley Fool Australia.

The Japanese automotive giant announced on Monday that it has acquired the position in FleetPartners to expand its sales presence in Australia.

The ASX All Ords stock is up 36% in the last 12 months and is currently swapping hands at $3.59 per share. Let's take a look.

Mitsubishi likes this ASX All Ords stock

FleetPartners shares hit the headlines this week after Mitsubishi Motors acquired a 5% stake in the company on 19 June 2024.

Founded in 1987, the FleetPartners boasts a fleet of around 90,000 vehicles. The ASX All Ords stock provides fleet management services to corporations in Australia and New Zealand.

The automotive player's move is said to align with its strategy to expand business operations in Australia. Mitsubishi Executive Tatsuo Nakamura said Australia is a key zone for the company's growth plans.

Australia is one of our core markets, and we have made this investment to further expand our sales channels and business opportunities in the country. We look forward to working with FleetPartners to grow our businesses.

Meanwhile, FleetPartners' CEO Damian Berrell said he wasn't against market consolidation as long as it benefitted the ASX All Ords stock.

"We're a strong supporter of market consolidation and would be open to any form of market consolidation provided that it's accretive to our investors and the synergies would certainly justify it," Berrell said, according to The Australian Financial Review.

Analysts at MST Marquee originally fuelled speculation about potential acquisition activity. The firm argued that SmartGroup Corporation Ltd (ASX: SIQ) could merge with FleetPartners at a 10-15% premium.

It said such a merger could deliver "earnings accretion of 20%," per the AFR. As to today's announcement, there is no saying what it means for FleetPartners' fundamentals.

Despite recent market fluctuations, analysts remain optimistic about FleetPartners. Morgan Stanley recently increased its price target on the stock to $3.90 per share.

According to my colleague Bernd, the broker maintains an 'overweight' rating on the ASX All Ords stock. This suggests an 11% upside from current levels.

The consensus of analyst estimates on FleetPartners is a buy according to CommSec. There is 1 sell and 1 hold rating against 4 buy recommendations.

Foolish takeaway

Mitsubishi's investment has focused attention on this ASX All Ords stock. Many investors are questioning what this means for growth in the vehicle leasing sector.

In the last 12 months, FleetPartners shares are up 36%. This is ahead of the S&P ASX 200 Index (ASX: XJO) by more than 28% in that time.

The post Guess which ASX All Ords stock Mitsubishi just bought 5% of? appeared first on The Motley Fool Australia.

One operates in the credit-impaired consumer debt segment.

The second is a biopharmaceutical company.

The third provides vehicle fleet leasing, fleet management, and diversified financial services.

And the fourth is a New Zealand-based building and materials company.

Any guesses?

Keep those in mind.

(Broker figures courtesy of The Australian.)

ASX 300 shares getting re-rated

The first ASX 300 share getting re-rated is Credit Corp Group Ltd (ASX: CCP)

The Credit Corp share price is up 4.0% in intraday trading at $15.47 a share. That sees the stock up more than 23% over six months.

And Macquarie believes it's still undervalued after that strong run. The broker raised Credit Corp to an 'outperform' rating with an $18.32 price target. That represents a 19% potential upside from current levels.

Credit Corp shares also have a strong history of delivering reliable passive income. Over the past 12 months, the company has paid out 62 cents a share in fully franked dividends. That equates to a current trailing yield of 4.0%.

Which brings us to the second ASX 300 share getting a broker re-rate today, Neuren Pharmaceuticals Ltd (ASX: NEU).

The Neuren Pharmaceuticals share price is up 6.1% in intraday trading at $20.22 a share. Shares are now up a whopping 42% over six months.

And according to JP Morgan it still looks like a bargain at these levels.

The broker gave Neuren an 'overweight' rating and a $23.60 price target, representing a potential 17% upside from current levels. The company does not pay dividends at this time.

Also getting re-rated

Also getting re-rated today is ASX 300 share FleetPartners Group Ltd (ASX: FPR).

The FleetPartners share price is down 4.1% today at $3.31 a share. However, shares remain up 19% over six months.

And Morgan Stanley thinks today's sell-down is likely misguided. The broker increased its price target for FleetPartners by 22% to $3.90 a share and maintained its 'overweight' rating. That represents a potential 18% upside from current levels.

FleetPartners shares last delivered dividends in 2018.

Rounding off the list, the fourth ASX 300 share getting re-rated today is Fletcher Building Ltd (ASX: FBU).

(Did you guess all four?)

The Fletcher Building share price is down 3.0% today at $2.79 a share. The stock has tumbled 35% over six months.

Fortunately, Morgan Stanley believes the worst of the pain should be over.

While the broker cut its price target by 23% to $2.84 a share, Morgan Stanley maintained its 'equal-weight' rating.

Fletcher Buildings suspended its interim dividend payment for FY 2024 due to challenging trading conditions.

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