Elders Ltd (ASX: ELD)
Within the agribusiness sector, Bell Potter analysts have retained a buy rating for Elders Ltd, despite a reduced price target of $9.10 following a fiscal update. Earnings estimations fell short, yet soil conditions and livestock values suggest potential recovery. Trades are at $8.36.
NextDC Ltd (ASX: NXT)
UBS analysts continue to endorse NextDC Ltd with a buy rating and $20.10 price target after the company’s significant $1.3 billion capital raising initiative. This strategic move reflects robust and growing demand, hinting at a bullish outlook for the data centre operator. Shares were on halt at $16.71.
Northern Star Resources Ltd (ASX: NST)
Macquarie maintains an outperform rating and $17.00 price target on Northern Star Resources, in spite of a quarterly sales update that showed underwhelming gold sales and cash flow. However, a strong opening to the fourth quarter and high-grade ore availability are reasons for optimism. Current shares stand at $15.36.
Top Points to Note:
- Elders Ltd: Amidst financial uncertainty, there are positive signs in the agricultural environment that may see a turnaround for Elders.
- NextDC Ltd: Strong capital raising efforts are indicative of accelerated growth and demand for NextDC’s data centre services.
- Northern Star Resources Ltd: Despite a lackluster quarter, Macquarie’s confidence rests on promising early fourth quarter performance and gold mining prospects.
Insights/Analysis: Despite different challenges each company faces, brokers see long-term growth potential. Elders could benefit from improved agricultural conditions, NextDC is poised for expansion in the tech sector, and Northern Star may capitalize on lucrative gold veins.
Concluding Thought: While short-term performance can deter investors, it’s the recognition of underlying value and future prospects that these brokers highlight as reasons to consider these ASX shares for the buy list.