This led to a 6% share price rise on opening.

At the time of writing, Navigator Global Investments shares are up 2% during today's session. 

The company remains down more than 17% year to date. 

What did the company report?

Today, the company reported: 

• Navigator's ownership-adjusted AUM increased by 9% to USD31.6 billion in Q3, up 16% over the last 12 months
• Total NGI Firm Level AUM2 increased by 17% to USD98 billion in Q3, up 20% over the last 12 months
• The Lighthouse Partners business remains the largest contributor, with AUM rising 8% during the quarter to a record US$18.7 billion. Over the past 12 months, that figure is up 17%

The company advised that growth was driven by a mix of inflows and investment performance across its platform.

The company expects strong asset growth (AUM) in Q3 FY26, putting NGI in a good position for FY27.

The company continues to expect FY26 adjusted EBITDA to be lower than FY25, driven by: 

• The timing of AUM growth recognised this quarter
• A higher proportion of inflows into lower fee-generating AUM
• The concentration of NGI's performance fee revenues, with the majority expected to crystallise in December

This announcement pleased investors, who were gobbling up shares in the company this morning.

What did Morgans have to say?

Following the release, the team at Morgans released updated guidance on Navigator Global Investments shares.

The broker said it was a broadly solid quarter, punctuated by a +9% increase in group Ownership adjusted AUM in a volatile market, and robust quarterly net flows into Lighthouse (+US$1.2bn). 

We update our NGI numbers for the quarterly and also following a broad review of our earnings assumptions. Our FY26F EPS estimate is revised down -3%, reflecting more conservative performance fee assumptions for the current year, while FY27F EPS moves up +2% on higher FUM estimates following today's update.

Upside and buy rating intact

It appears the company is quickly recovering from an early-year lull. 

Since late March, Navigator Global Investments shares have risen more than 23%. 

It seems that, based on Morgans' guidance, this recovery can continue. 

Morgans has retained its buy recommendation, along with a largely unchanged price target of $2.97. 

From today's current price target of $2.46, this indicates an upside potential of approximately 20%. 

The post What is Morgan's view on Navigator Global Investments shares after update 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 racing higher:

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global share price is up 7% to $2.45. This follows the release of a quarterly assets under management (AUM) update from the investment company this morning. Navigator Global revealed that AUM was US$31.6 billion at the end of March. This is up 9% over the quarter and 16% from last year. It advised that growth was driven by a mix of inflows and investment performance across its platform.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is up 6% to 72.5 cents. This has been driven by the release of a production update from the gold miner this morning. St Barbara revealed that it expects to increase its gold production to 200,000 ounces per year by 2030. This represents a compound annual growth rate of 59%. The company's managing director, Andrew Strelein, said: "St Barbara's recent breakthroughs with the Mining Lease Extension and now FID on the New Simberi Gold Project, the permitting of the Touquoy Restart and the impressive results of the 15-Mile Processing Hub Project Pre-Feasibility Study set up the Company for an attractive gold production CAGR of 59% lifting attributable production to over 190koz in FY30 and more than 200koz in FY31."

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is up 2% to $3.59. This morning, the lithium developer revealed that it has entered into a 40 million euros major project framework agreement with Siemens for the supply of engineering, automation, telecommunications, and building technology systems. Vulcan Energy's managing director and CEO, Cris Moreno, commented: "The signing of this framework agreement with Siemens AG builds on our established partnership with the broader Siemens group which shares Vulcan's commitment to innovation and sustainability. We are pleased to be working alongside Siemens who have a vast local presence and history working in the broader region, and bring decades of experience in delivering engineering, automation, telecommunications, and digital technology systems to similar types of industrial projects."

Zip Co Ltd (ASX: ZIP)

The Zip share price is up a further 11% to $2.58. This buy now pay later provider's shares have been racing higher since the release of its third-quarter update at the end of last week. Zip reported record cash EBTDA of $65.1 million for the third quarter, which represents a 41.5% increase on the prior corresponding period. In light of its stronger than expected performance, management now expects group cash EBTDA of at least $260 million for the full year. This is up from its previous guidance of approximately $248.6 million.

The post Why Navigator Global, St Barbara, Vulcan Energy, and Zip shares are racing higher today appeared first on The Motley Fool Australia.

In midday trade, the Navigator share price is up 6% to $2.43. That extends its weekly gain to almost 20%, placing the stock back near the upper end of its recent range.

The move follows a fresh update released to the market before the open.

Funds under management keep climbing

Navigator reported ownership-adjusted assets under management (AUM) of US$31.6 billion at the end of March, up 9% over the quarter and 16% across the past year.

Growth was driven by a mix of inflows and investment performance across its platform.

The Lighthouse Partners business remains the largest contributor, with AUM rising 8% during the quarter to a record US$18.7 billion. Over the past 12 months, that figure is up 17%.

Performance across key hedge fund strategies stayed positive, with several strategies delivering returns above benchmarks over both 1 and 5-year periods.

Net inflows also played an important role. Around US$1.2 billion came into the business during the quarter, with most directed toward managed account services.

Strategic platform and private markets stand out

In addition, the NGI Strategic platform moved higher, with AUM increasing 10% over the quarter to US$12.9 billion.

Within that, private markets stood out. AUM in that segment rose 20% to US$3.6 billion, supported by the addition of a Canada-based technology investor during the period.

Across the broader strategic platform, AUM growth over the past year has reached 57%, reflecting both new partnerships and market performance.

At the firm level, total AUM increased 17% during the quarter to US$98 billion.

Earnings outlook softens despite AUM growth

Despite the lift in AUM, the earnings outlook points to some pressure in the near-term.

Management expects FY26 adjusted EBITDA to come in below FY25 levels. That reflects the timing of inflows during the year and a greater weighting toward lower fee products within the mix.

Performance fees are also expected to normalise after stronger contributions in the prior period.

The update also pointed to ongoing demand from institutional investors seeking exposure to alternative asset classes.

Foolish bottom line

The latest move in the share price lines up with continued growth across the platform.

AUM expansion remains one of the key drivers for this business, particularly when it is supported by inflows instead of just market movements.

The strength in private markets and strategic partnerships is also drawing attention, given how quickly that segment has scaled.

After a solid run over the past week, investors appear more focused on AUM growth than Navigator's earnings outlook.

The post This ASX financial stock is jumping 6% today. Here's what just landed appeared first on The Motley Fool Australia.

Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:

DroneShield Ltd (ASX: DRO)

According to a note out of Bell Potter, its analysts have retained their buy rating and $4.80 price target on this counter-drone technology company's shares. Bell Potter has been looking at the counter-drone industry and highlights that the Middle East conflict is accelerating demand for the technology. The broker notes that lessons learned in Ukraine are being repeated, including the realisation that using up to US$4 million missiles to take down US$35,000 drones is unsustainable. In light of this, Bell Potter expects there to be broad adoption of C-UAS technologies alongside advanced hypersonic defence capabilities to improve on this equation. It feels that this bodes well for DroneShield given its strong position in the market and high-quality product portfolio. The DroneShield share price ended the week at $3.93.

Navigator Global Investments Ltd (ASX: NGI)

A note out of Morgans reveals that its analysts have retained their buy rating on this investment company's shares with a reduced price target of $2.98. Morgans I had spoken positively about the company's decision to acquire Georgian. It is a Toronto-based AI-focused growth equity firm. The broker thinks the deal is a strategic fit and will be earnings accretive. In addition, Morgans highlights that a recent selloff of Navigator Global shares appears to be linked to private credit concerns around its key strategic partner Blue Owl. However, Morgans thinks that the company's fundamentals are largely unchanged, creating a buying opportunity for investors. The Navigator share price was fetching $2.05 at Thursday's close.

Nufarm Ltd (ASX: NUF)

Another note out of Bell Potter reveals that its analysts have retained their buy rating and $3.60 price target on this agricultural chemicals company's shares. Bell Potter notes that we are entering the most material selling windows for Nufarm. The good news for Nufarm is that the majority of markets look supportive of reasonable demand levels of crop protection products. In addition, Bell Potter points out that upward movements in active ingredients and omega-3 indicators all look supportive of a reasonable pricing environment. It feels that this leaves Nufarm in a position to deleverage its balance sheet, which could be a positive share price catalyst. The Nufarm share price ended the week at $2.03.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

If you are, it could be worth checking out the ASX shares that analysts at Bell Potter and Morgans are recommending to clients.

Here's what you need to know:

Harvey Norman Holdings Ltd (ASX: HVN)

The first ASX share that is rated as a buy is Harvey Norman.

Bell Potter acknowledges that there are risks in the retail sector, particularly given the company's exposure to multiple product categories. However, it believes Harvey Norman's geographic diversification and property assets help balance these risks.

Importantly, the broker sees value emerging in its shares after a sharp decline. Furthermore, it highlights that Harvey Norman's international store expansion, ongoing store upgrades in Australia, and significant property portfolio could support earnings growth over time.

Bell Potter has a buy rating and $6.70 price target on its shares. It said:

While our preference skews to category specialists with balance sheet strength, we see HVN's well balanced geographical diversification somewhat offsetting the multi-category risks.

Following the sharp sell-off in the name since Oct-25, HVN's 1-year forward P/E of ~13x (as per BPe) appears attractive considering the new store driven growth in international retailing (UK, Malaysia, Croatia), refit program in Australia and opportunities to grow their real estate portfolio as Australia's single largest owner in large format retail with a global portfolio of ~$4.6b.

Navigator Global Investments Ltd (ASX: NGI)

Another ASX share that is rated as a buy by brokers is Navigator Global Investments.

Morgans believes the company's recent acquisition of Georgian strengthens its long-term growth outlook. Georgian is an AI-focused growth equity firm, which Morgans believes aligns with key investment trends and could support earnings growth in the coming years.

While the broker has trimmed its price target due to broader market valuation changes, it does not believe the company's fundamentals have deteriorated. In fact, recent market volatility may even be supportive of its alternative asset management business.

Morgans has put a buy rating and $2.98 price target on its shares. It said:

NGI has acquired Georgian, a Toronto-based AI-focused growth equity firm. This deal appears to be a strategic fit for NGI, meeting its flagged acquisition criteria and being earnings accretive. We forecast NGI FY26F/FY27F/FY28F EPS to increase by ~1%-3% following the transaction. However, our target price reduces to A$2.98 (from A$3.35), reflecting a meaningful contraction in global peer trading multiples and our application of a more conservative valuation multiple to NGI (12.5x PE versus 15x previously).

NGI's recent sell-off appears to be mainly tied to Private Credit concerns around its key strategic partner Blue Owl. We think NGI's fundamentals are largely unchanged, and current market volatility is arguably conducive to its stable of alternative asset fund managers. We rate NGI a Buy.

The post Why these ASX shares are rated as buys in April appeared first on The Motley Fool Australia.

Three ASX shares that brokers have named as buys this week are listed below. Here's why their analysts are feeling bullish on them right now:

Aristocrat Leisure Ltd (ASX: ALL)

According to a note out of Macquarie, its analysts have retained their outperform rating and $63.00 price target on this gaming technology company's shares. The broker has been looking at recent US casino gaming data and was pleased to see year on year growth. This is despite operating in a potentially softer consumer backdrop. In light of this, the broker continues to forecast solid growth from Aristocrat over the medium term. So, with its shares de-rating significantly this year and its valuation at a multi-year low, the broker thinks investors should be snapping them up while they are down. The Aristocrat Leisure share price is trading at $46.55 this afternoon.

Catapult Sports Ltd (ASX: CAT)

A note out of Bell Potter reveals that its analysts have retained their buy rating and $4.75 price target on this sports technology company's shares. This follows the release of its investor day event presentation which outlined its medium-term growth targets. Bell Potter highlights that the key target is annual contract value (ACV) of US$200 million+ in two to three years. This in theory will be achieved by reaching 5,000 pro teams (vs ~4,000 now) and ACV per pro team of ~US$40,000 (vs ~US$30,000 now). The broker believes that this is achievable given the increase in solutions it offers due to acquisitions and new product development. Bell Potter is forecasting ACV of US$207 million in FY 2029, which is consistent with Catapult's target. The Catapult share price is fetching $3.50 at the time of writing.

Navigator Global Investments Ltd (ASX: NGI)

Analysts at Morgans have retained their buy rating on this investment company's shares with a trimmed price target of $2.98. According to the note, the broker was pleased with the company's acquisition of Georgian, which is a Toronto-based AI-focused growth equity firm. It thinks the acquisition is a strategic fit and will be earnings accretive. Outside this, it highlights that a recent selloff of Navigator Global shares appears to have been tied to private credit concerns around its key strategic partner Blue Owl. However, Morgans thinks that the company's fundamentals are largely unchanged. The Navigator share price is trading at $2.17 on Wednesday.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Financials (ASX: XFJ) index remains flat year to date. 

This week, two ASX financial stocks have received positive outlooks from brokers. 

Here's what's behind the optimistic view. 

Navigator Global Investments Ltd (ASX: NGI)

Navigator Global Investments is a holding company. 

It is an alternative asset management firm with diverse partnerships across investment styles, product types, and client bases. Navigator Global Investments has around US$73 billion in assets under management and is currently partnered with 11 businesses.

It has fallen 28% year to date, however a key announcement could be good news for the ASX financials stock according to Morgans. 

The company released an announcement on Monday that it has entered into an agreement to acquire a strategic minority ownership interest and a preferred economic interest in Georgian and its affiliates ("Georgian").

Georgian is a Toronto, Canada based AI-focused growth equity firm with USD $5.9 billion in assets under management. 

Stephen Darke, NGI CEO, commented, 

Our strategic partnership with Georgian is the latest example of NGI executing our strategy to provide growth capital to leading alternative investment firms globally. Artificial intelligence will be one of the dominant investment themes of the next century, and in Georgian we have found an aligned partner that is a true pioneer in the field.

Following the announcement, the team at Morgans updated its outlook on this ASX financials stock. 

Morgans said it expects EPS to increase by 1-3% following the transaction. 

It also rates Navigator Global Investments shares a buy, however reduced its price target to $2.98 (previously $3.35). 

From yesterday's closing price of $2.12, this indicates an upside of approximately 40%. 

Cuscal Ltd (ASX: CCL)

Cuscal Ltd is a payment and regulated data services provider in Australia. The group offers a comprehensive suite of payment infrastructure solutions to a diversified client base.

In a note out of Bell Potter yesterday, the broker updated its outlook on this ASX financials stock after the Reserve Bank of Australia announced surcharging on debit and credit cards should end from 1 October 2026. 

This could impact Cuscal margins removing a key revenue mechanism tied to merchant card payments.

However, Bell Potter said its buy rating and target price is unchanged. 

We view the outcome today as a mild indirect positive for CCL whose customer base are price takers with low exposure to credit and view subscription-based models are an emerging second leg of growth.

Bell Potter has maintained its price target of $5.10 on this ASX financials stock, which indicates a potential upside of 28% from yesterday's closing price. 

The post Experts name 2 ASX financials stocks to watch closely appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

29Metals Ltd (ASX: 29M)

The 29Metals share price is down 31% to 42.7 cents. The catalyst for this has been the copper miner undertaking an equity raising. 29Metals revealed that it has raised $119 million from institutional investors at an offer price of 40 cents per new share. This represents a 35.5% discount to its last closing price of 62 cents. 29Metals' CEO, James Palmer, commented: "This equity raising is expected to allow us to maintain our commitments to our strategic growth objectives to accelerate value realisation across the portfolio. Specifically, the ongoing investment in Gossan Valley, progression of a Restart Definitive Feasibility Study at Capricorn Copper and drilling to test priority exploration targets across the portfolio."

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global Investments share price is down 3.5% to $3.10. This may have been driven by a broker note out of Morgans. According to the note, the broker has downgraded the investment company's shares to an accumulate rating (from buy) but with an improved price target of $3.71.

Praemium Ltd (ASX: PPS)

The Praemium share price is down 6.5% to 78.5 cents. This morning, this investment platform provider released its second quarter update. Praemium revealed a 14% increase in funds under administration to $70.5 billion. This may have been softer than the market was expecting. The company's CEO, Anthony Wamsteker, was pleased with the quarter. He said: "The December quarter continued to see strong inflows into Spectrum. We are pleased that the demand we're seeing reflects the strength of our offering and the opportunity to grow our market share in the HNW segment. Since launch we have achieved $1.4 billion in new business gross inflows."

Xero Ltd (ASX: XRO)

The Xero share price is down 4.5% to $99.43. This has been driven by broad weakness in the tech sector on Wednesday following a poor night of trade on Wall Street's Nasdaq index. It isn't just Xero that is falling today. Almost all tech stocks are being sold down. This has led to the S&P/ASX All Technology Index dropping 2.75% at the time of writing.

The post Why 29Metals, Navigator Global, Praemium, and Xero shares are sinking today appeared first on The Motley Fool Australia.

By comparison, the S&P/ASX 200 Index (ASX: XJO) rose 6.8% and produced total returns of 10.32%.

ASX financials were the third-best performer among the 11 market sectors last year.

Looking ahead, here are five ASX financial shares that the experts are backing for price growth in 2026.

5 ASX financial shares with new year buy ratings

Hub24 Ltd (ASX: HUB)

The Hub24 share price rose by 38% to finish 2025 at $96.25 per share.

Bell Potter has a buy rating on Hub24 shares with a price target of $125.

On Thursday, the investment and superannuation platform provider is trading at $95.53 per share, up 2%.

The broker's price target suggests potential gains of 31% in the new year.

Infratil Ltd (ASX: IFT)

The Infratil share price fell 15.8% in 2025 to close at $9.74 on 31 December.

Today, Infratil shares are $9.88 apiece, up 0.5%.

Morgans has just initiated coverage on this ASX financial share with an accumulate rating.

The broker has put a price target of $11.30 on the New Zealand-based investment company.

This suggests a potential 14% upside over the new year ahead.

Morgans said:

Infratil (IFT) is a high quality, concentrated structural growth investor targeting 11-15% pa post fee returns. IFT's investors have enjoyed c.18% pa returns over the last ~30 years.

Assuming delivery of target returns, post fees the Net Asset Value (NAV) should nearly double over the next five years and create substantial value for equity holders.

The share price is currently trading at a 30% discount to NAV.

Generation Development Group Ltd (ASX: GDG)

Retirement and investment solutions provider Generation Development Group was the best performer of the financials sector in 2025.

The Generation Development Group share price rose 66% to finish the year at $5.89.

Macquarie gives Generation Development Group shares an outperform rating with a 12-month price target of $6.70.

Today, the ASX financial share is trading for $5.90, up 0.3%.

The broker's target implies a potential upside of 14% for investors who buy the stock today.

Navigator Global Investments Ltd (ASX: NGI)

Navigator Global Investments shares increased 72% last year to close at $2.96 on 31 December.

Ord Minnett has a buy rating on this ASX small-cap financial share with a price target of $3.50.

Today, the alternative asset manager is trading at $2.98 per share, up 4.9%.

The broker's price target suggests potential gains of 17% in the new year.

Challenger Ltd (ASX: CGF)

Challenger shares also performed strongly last year, rising 57% to finish the year at $9.41 apiece.

Citi has a buy rating on this ASX financial share with a price target of $10.25.

Today, the Challenger share price is $9.39, down 0.2%.

The broker's price target implies a potential upside of 9% for 2026.

The post 5 ASX financial shares to buy in 2026 appeared first on The Motley Fool Australia.

The S&P/ASX 200 Financials Index (ASX: XFJ) slightly outperformed the ASX 200. 

It rose by just over 7%. 

There were a few ASX financials shares that had stellar years, bringing happy investors strong returns. 

Let's look at three and investigate if they are likely to repeat their strong performance in 2026. 

Consolidated Operations Group Limited (ASX: COG)

Consolidated Operations Group shares were among the best performing in the entire sector over the last year. 

The company is Australia's leading finance broker aggregator and equipment leasing company for small to medium-sized businesses. 

The company has two segments, its finance broker & aggregation business and its lending business.

Its share price is up almost 100% across the last year. 

Is it time to buy, hold, or sell after this impressive gain?

Estimates from brokers indicate it still has more room to run. 

Late last year, Morgans placed a price target of $2.63 on these financials shares and Bell Potter, a buy rating and $2.70 price target. 

These targets indicate a further upside from yesterday's closing price of around 29% to 33%. 

The cherry on top is the expected 3.8% to 4.5% dividend yield over the next two years. 

Ma Financial Group (ASX: MAF)

This financials stock has enjoyed a rise of 85% over the last 12 months. 

It is a diversified financial services company, specialising in managing alternative assets, lending, corporate advisory, and equities.

This has been driven by strong growth in assets under management (AUM).

Investors also reacted positively to the acquisition in late November of Hyperdome Town Centre shopping centre for $678.7 million.

Estimates from analysts indicate these ASX financials shares are now trading close to fair value. 

TradingView has a 12 month price target of $11.27, which is roughly 25% higher than its current share price. 

Navigator Global Investments (ASX: NGI)

Navigator Global Investments shares were another stock market winner in 2025. 

Its share price is up 86% from this time last year. 

The company believes its strong financial performance can continue, with management targeting to double its EBITDA to over US$200 million by 2030.

Estimates from the team at Morgan reinforce that these ASX financials shares can keep rising. 

In December last year, the broker initiated coverage with a buy rating and $3.45 price target.

This indicates a further 15% upside. 

The post Can these high flying financials shares from last year do it again? appeared first on The Motley Fool Australia.

They have just been given buy ratings and are tipped to rise meaningfully from current levels. Here's what the broker is saying about them:

Navigator Global Investments Ltd (ASX: NGI)

Morgans believes that this alternative asset management company's shares are undervalued.

It highlights that despite rising over 70% this year, its shares are still trading at just 13x estimated FY 2026 earnings.

This comes at a time when management is aiming to double its earnings over the next five years, which implies a compound annual growth rate (CAGR) of 15%. It said:

Navigator Global Investments (NGI) is an alternative asset management firm focused on partnering with leading global alternative managers, with exposure to 11 boutique firms across hedge funds, private markets, structured credit, macro, commodities and derivatives. NGI operates a simple and effective model: it takes minority stakes in high-quality, high-margin alternative managers and supports their growth with capital and strategic services. The model creates a highly diversified earnings base with strong growth potential through adding scale (new partnerships) to the existing platform.

NGI has a strategic ambition to double EBITDA over five years, implying ~15% CAGR. We believe the business has the operating structure and expertise, is self-funding, and has a large addressable market for acquisitions to achieve this target. Earnings resilience is a key feature supported by high diversity in its Assets under management (AUM) across asset classes, managers, investment strategies, and investor channels. At ~13x FY26F PE, we see this earnings durability and growth potential as undervalued.

Morgans has initiated coverage on the ASX stock with a buy rating and $3.45 price target. This implies potential upside of 17% for investors from current levels.

Polynovo Ltd (ASX: PNV)

Another ASX stock that Morgans has put a buy rating on is Polynovo.

It is a medical technology company aiming to simplify the management of acute complex wounds with its NovoSorb BTM product. This is a dermal scaffold for the regeneration of the dermis when lost through surgery, trauma or burn.

Morgans has turned more positive on the company after it strengthened its board and finally appointed a new leader. It was also pleased to see that its recent trading update suggests that the company is on to achieve its revenue forecast in FY 2026. It said:

Following changes to its Board and with the appointment of a new CEO, we see more stability and focus returning to the PNV business. The 1Q26 trading update sees group sales up 33% and gives us confidence our full-year revenue forecast (up ~17%) is on track. We sit below revenue consensus but in line with EBITDA. We have made no changes to forecasts. However, we have removed our discount to the target price which now sits at A$2.03 (was A$1.69). We have moved our recommendation up to BUY from SPECULATIVE BUY.

As mentioned above, Morgans has a buy rating and $2.03 price target on its shares. This suggests that upside of 68% is possible between now and this time next year.

The post Why Morgans just put buy ratings on these ASX stocks appeared first on The Motley Fool Australia.

Navigator Global Investments is a diversified alternative asset management company that partners with a variety of institutional asset managers operating across different investment styles, product types, and client bases.

It has around US$73 billion in assets under management and is currently partnered with 11 businesses.

Yesterday, it closed trading at $2.94, and is now up 24.58% in just the last month. 

In a fresh note out of Ord Minnett, it appears the broker sees plenty more upside in this ASX financials stock following Navigator Global Investments' recent investor day. 

Ord Minnett said the recent investor day underscored the immense growth opportunity that the asset manager has in front of it.

The broker has a buy rating on the stock and has just raised its target price to $3.50 from $2.80.

Let's see what was behind the upgrade. 

Highlights from investor day 

The team at Navigator Global Investments reiterated that in FY25, ownership-adjusted AUM increased to US$27.7 billion, up 6% from the previous year.

The team at Ord Minnett also pointed out principals from partner firms referred glowingly to the company's assorted value-add levers, in particular, the Blue Owl Business Services Platform. 

Blue Owl's GP Strategic Capital platform offers minority equity and financing solutions to private capital managers.

Ord Minnett also pointed to organic growth and targeted acquisitions as key drivers of future growth. 

The combination of organic growth, supplemented by targeted US$80 million ($125 million) of strategic acquisitions from a large opportunity set, sees the business well-placed to achieve its 2030 target of a doubling of operating earnings (EBITDA) from 2025.

Other noted highlights included: 

• A strong endorsement of Navigator's offering from the principals of the 1315 Healthcare and Waterfall AM fund managers.
• Because Navigator's partners are highly diversified, aggregated performance fees are more consistent, and along with the high margins of alternative managers, this generates steady cash flows that investors are only just starting to value.
• The size of Navigator's acquisition target set, i.e. firms in the US$1–US$10 billion range, is significant at more than 8,000.

Ultimately, this diversification can help smooth earnings, and paired with high margins, creates steady cash flows that Ord Minnett believes the market hasn't fully valued until now.

This has positively influenced Ord Minnett's view of the company moving forward. 

Earnings forecasts and target price adjusted 

Following the investor day, Ord Minnett bumped up its earnings forecasts and price target for this ASX financials stock. 

We made minor adjustments to our earnings forecasts post the investor day, notably our EBITDA estimate for FY26 has increased by 3% to $106.5m, after adjusting our performance fee estimates for Lighthouse Partners.

Based on the new price target from Ord Minnett, the broker now sees an upside of 19.05% for this financials stock. 

The post Top broker says this skyrocketing financials stock is still a buy! 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:

Breville Group Ltd (ASX: BRG)

The Breville share price is up a further 4% to $31.80. Investors have been buying this appliance manufacturer's shares this week following the release of a bullish broker note out of Morgans. It has upgraded the company's shares to a buy rating with a $36.05 price target. The broker said: "We are encouraged by recent positive updates from peers who share key attributes with BRG, including strong new product innovation and geographic expansion (SharkNinja; SN-US), premium brand positioning (KitchenAid / Whirlpool; WHR-US) and growing coffee category exposure (both). We view recent weakness in BRG as an opportunity to build a position in a high-quality, well-managed business, with structural coffee tailwinds. Upgrade to BUY."

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up a further 4% to $12.76. This travel agent's shares have been rising this week following the release of a trading update at its annual general meeting. Commenting on its performance, Flight Centre's managing director, Graham Turner, said: "FY26 is off to a positive start, with first-quarter results and preliminary October trading data confirming momentum across both corporate and leisure segments." Turner also provided guidance for the full year, revealing that profit before tax is expected to be up 5.5% to 17.6% year on year.

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global Investments share price is up 6% to $3.07. This morning, this investment company released an investor day presentation. It spoke about its strategy that it expects to double its EBITDA to over US$200 million by 2030.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is up 5.5% to $7.26. This follows the release of a resource update this morning. The gold miner revealed that the probable open-pit ore reserves at Buckingham-Wellington have increased to 251,000 ounces from the prior estimate of 128,000 ounces. The company's CEO, Jim Beyer, said: "The consolidation of the Buckingham and Wellington open pits is an opportunistic and disciplined response to the current gold price, allowing us to bring forward and produce profitable ounces while maintaining flexibility in our long-term plan."

The post Why Breville, Flight Centre, Navigator Global, and Regis Resources shares are racing higher 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.

Four ASX shares that are rising more than most today are listed below. Here's why they are rising:

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global share price is up 2% to $1.80. This morning, this investment company revealed that it has entered into an agreement to acquire a strategic minority stake in 1315 Capital and its affiliates. The release notes that 1315 Capital is a private equity firm with over US$1 billion assets under management that provides growth equity and growth buyout capital to commercial-stage medtech and pharma outsourcing, healthcare services, medical technology, and health and wellness companies. They target markets where high-quality management teams can rapidly scale platform companies into large and important businesses that positively impact patients, physicians, and the broader healthcare system.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up almost 8% to $1.96. This is despite there being no news out of the lithium miner. However, a number of lithium miners are pushing higher today as investor sentiment improves. They may believe that this side of the market has been oversold in recent time and created a buying opportunity.

Smartpay Holdings Ltd (ASX: SMP)

The Smartpay share price is up 48% to 78.5 cents. Investors have been scrambling to buy the payments company's shares after it received a takeover approach from both Tyro Payments Ltd (ASX: TYR) and another third party. Tyro Payments' indicative proposal is to acquire 100% of the issued ordinary shares of Smartpay by way of scheme of arrangement for a price of NZ$1.00 (approximately A$0.90) per share. This comprises a majority of Tyro shares as well as cash consideration.

Spartan Resources Ltd (ASX: SPR)

The Spartan Resources share price is up 9% to $1.75. This follows news that the gold miner has agreed to merge with Ramelius Resources Ltd (ASX: RMS). It has accepted a deal that will see Ramelius acquire all outstanding Spartan shares for $0.25 in cash and 0.6957 new Ramelius shares per share. This valued the company at $1.78 per share, which represented a relatively modest 11.3% premium to its last close price but a 27.5% premium to its 30-day average price. Ramelius' managing director, Mark Zeptner, said: "With the Spartan Effect, Ramelius has a vision for the Combined Group to be a +500koz/pa producer in FY30."

The post Why Navigator Global, Pilbara Minerals, Smartpay, and Spartan shares are charging higher appeared first on The Motley Fool Australia.

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

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up almost 10% to $16.44. This morning, this corporate travel specialist released its half year results and reported a 6% decline in revenue to $342.8 million and a 33% decline in underlying net profit after tax to $38.7 million. However, this was largely expected as its European operations wound down one-off war-related projects from FY 2024. Investors appear more focused on its Rest of World segment excluding Europe, which delivered a 38% increase in underlying EBITDA growth of 38%. Management also spoke positively about the future and revealed that it is aiming to double its FY 2024 earnings in the next five years.

Light & Wonder Inc. (ASX: LNW)

The Light & Wonder share price is up 10% to $168.63. This follows news that the game developer has signed an agreement for an acquisition. Light & Wonder is acquiring the charitable gaming assets of Grover Gaming and G2 Gaming for a total consideration of US$850 million cash. This is subject to customary purchase price adjustments, and a four-year revenue based earn-out of up to US$200 million cash. CEO Matt Wilson said: "Grover Gaming is a leading player in charitable gaming, a category that has experienced significant growth in recent years. This transaction complements our position as the leading cross-platform global games company by adding another compelling regulated adjacency to our profile."

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global share price is up 17% to $1.92. This follows the release of the investment company's half year results. Navigator Global reported a 28% increase in revenue to US$92.3 million and a 16% lift in adjusted EBITDA to US$41.1 million. The company's CEO, Stephen Darke said: "Our first half results reflect an excellent performance from Lighthouse and highlights the importance of a diversification across NGI's scalable portfolio of alternative managers."

St Barbara Ltd (ASX: SBM)

The St Barbara share price is up 4% to 26.5 cents. This follows a strong rise in the gold price overnight and the release of the company's half year results. In respect to the latter, St Barbara posted an underlying loss after tax of $48 million for the half. This appears to have been better than some investors were fearing. St Barbara ended the year with cash on hand of $129.1 million excluding restricted cash.

The post Why Corporate Travel, Light & Wonder, Navigator Global, and St Barbara shares are racing higher appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:

APM Human Services International Ltd (ASX: APM)

The APM Human Services International share price is up 10% to $1.37. Investors have been buying the human services company's shares after it accepted a takeover offer. According to the release, APM has entered into a scheme implementation deed with Madison Dearborn Partners. Under the scheme, APM shareholders will receive $1.45 cash per share. The APM Independent Board Committee unanimously recommends that shareholders vote in favour of the scheme. This is in the absence of a superior proposal and subject to the independent expert's report.

Fletcher Building Ltd (ASX: FBU)

The Fletcher Building share price is up almost 4% to $2.95. This morning, this building materials company announced amendments to its banking agreements which will extend the tenor of its debt facilities. In addition, the amendments will allow Fletcher Building to rely on more favourable terms for covenant testing through to the end of calendar 2025 if required. The company's acting CEO, Nick Traber, said: "Given the current market environment and outlook, we have taken pre-emptive steps to reinforce the Company's resilience for the medium term to position ourselves to navigate the tougher trading conditions."

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global Investments share price is up 13% to $2.09. Investors have been buying this investment company's shares after it upgraded its earnings guidance for FY 2024. Full year adjusted EBITDA is now expected to be between US$85 million to US$89 million, representing an increase of between 76% and 84% on FY 2023's adjusted EBITDA. Management advised that strong profit distributions from its partner firms is driving a significant second half earnings uplift. The company's CEO, Stephen Darke, believes "this underscores both the resilience and earnings potential of NGI's diversified portfolio of global alternative investment managers."

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is up 6% to 21.2 cents. The catalyst for this has been an update on the Walyering-7 (W7) well within the Perth Basin. According to the release, W7 has intersected a high-quality conventional gas accumulation to the north-east of the currently producing Walyering gas field. A total of 23m of net gas pay with an average porosity of 16% has been measured.

The post Why APM, Fletcher Building, Navigator Global, and Strike Energy shares are storming higher appeared first on The Motley Fool Australia.

And that's exactly why the team at the Elvest Fund is bullish on three particular ASX shares.

All these stocks are already on the way up, thanks to their earnings trending higher:

Earnings driver #1: A huge takeover

Navigator Global Investments Ltd (ASX: NGI) recently reached a major corporate milestone.

"NGI completed the acquisition of the Strategic Portfolio (3 January) from GP Strategic and provided an assets under management (AUM) update for the quarter ended 31 December," read an Elvest memo to clients.

The deal is a huge boost for its fortunes.

"NGI emerges from the transaction as a larger, more diversified business with a stronger balance sheet and an enhanced partnership with major shareholder, GP Strategic, a leading capital provider to US asset managers.

"The AUM update brought no surprises with Group AUM rising slightly to US$26.1 billion."

Although sparsely covered, NGI shares are rated as strong buy by both the analysts currently surveyed on CMC Invest.

Earnings driver #2: Huge jackpots

You may have heard that last week Powerball jackpotted to a massive $200 million.

These types of headline-grabbing events are a boon for lottery services providers, such as Jumbo Interactive Ltd (ASX: JIN).

"This should aid customer acquisition, online engagement and FY24 profitability."

The future looks bright for Jumbo Interactive, according to the Elvest memo.

"Looking ahead, specifically to FY25 and beyond, we forecast improving operating leverage as further increases in online penetration, lottery ticket price rises and flat Lottery Corporation Ltd (ASX: TLC) fees all combine to generate strong growth in Australian earnings."

The company also has a nice side hustle going overseas.

"Equally as promising is Jumbo Interactive's sharpened global expansion strategy, this time as a software vendor, rather than a retailer, in offshore markets."

Earnings driver #3: Huge disasters

The arrival of El Nino late last year was meant to put an end to the flooding disasters Australia suffered over the preceding years, but this summer the calamity has continued.

As a disaster insurance claims repairer, the Elvest team noted how the Johns Lyng Group Ltd (ASX: JLG) share price rose in January.

"Johns Lyng rallied in anticipation of further growth in their contracted catastrophe (CAT) work-in-hand, reflecting the recent spate of disaster events in eastern Australia."

But the company is not just relying on random natural events for earnings. It has other activities going on that are under their own control, such as strata work and overseas expansion.

"The business remains well positioned to grow its business as usual (BAU) earnings in both Australia and the US, and we see an upgrade to full year earnings forecasts at the 1H24 result as a possibility."

The post 3 ASX shares predicted to enjoy 'strong growth' in 2024 earnings appeared first on The Motley Fool Australia.

Four ASX shares that are acting as a drag on proceedings today are listed below. Here's why they are falling:

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is down a further 6.5% to 29.5 cents. This biotech company's shares have come under pressure this week after it announced another capital raising. Mesoblast raised $55 million from institutional investors at a 26% discount of $0.30 per new share. It is now seeking to raise $42 million from retail shareholders at the same price. Mesoblast's shares are down 22% in December.

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global share price is down 8% to $1.15. This is despite there being no news out of the investment company today. Not even some insider buying news has been enough to stop its shares from falling today. The company's CEO, Stephen Darke, bought 35,000 shares on-market for a total consideration of $43,400 on Thursday.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is down 2.5% to $1.51. This morning, Ord Minnett responded to the medical device company's latest sales update by retaining its lighten rating and $1 price target. Its analysts believe PolyNovo's shares are overvalued and feel the market is too optimistic on its growth outlook.

Skycity Entertainment Group Ltd (ASX: SKC)

The Skycity share price is down 2% to $1.69. Investors have been selling the company's shares after it released a trading update. Management revealed that it now expects to deliver normalised EBITDA of NZ$290 million to NZ$310 million in FY 2024. This compares to its previous guidance of just NZ$310 million.

The post Why Mesoblast, Navigator Global, Polynovo, and Skycity shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market's lead today are listed below. Here's why they are dropping:

Brambles Limited (ASX: BXB)

The Brambles share price is down 4% to $13.38. This appears to have been driven by a broker note out of Citi this morning. In response to its quarterly update, the broker has downgraded its shares to a sell rating with a reduced price target of $13.15.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is down 6.5% to $1.29. This is despite there being no news out of the uranium developer today. However, it is worth noting that a number of ASX uranium shares are falling on Friday. Investors could be taking some profit off the table after strong gains in recent months. The Deep Yellow share price remains up more than 150% over the last six months.

Navigator Global Investments Ltd (ASX: NGI)

The Navigator Global share price is down 5% to $1.25. This follows the release of the investment company's annual general meeting update. Management's reluctance to provide guidance at the event may have spooked some investors. It said: "Given the large number of variables which will determine the earnings of the NGI Strategic Portfolio partner firms, Navigator is not in a position to provide earnings guidance."

ResMed Inc. (ASX: RMD)

The ResMed share price is down 3% to $21.76. This is despite the sleep treatment company delivering a first-quarter result slightly ahead of expectations this morning. ResMed reported a 16% increase in revenue to US$1.1 billion and a 5% lift in income from operations. Goldman Sachs notes: "EBIT/EPS beat +3%/+2% as gross margins modestly improved from 4Q23 (+20bps)."

The post Why Brambles, Deep Yellow, Navigator Global, and ResMed shares are falling today appeared first on The Motley Fool Australia.