[BUY] BlueScope Steel (ASX: BSL) – Capex Peaks and Cash Flow Inflects
ASX: BSL▼ -0.90%
BlueScope Steel (ASX: BSL) at A$32.00, on 6x forward EBITDA against steel peers near 7x. Capex has peaked and free cash flow inflects. Buy, about 18% upside.
ASX Research
[BUY] Aristocrat Leisure (ASX: ALL) – A Billion-Dollar Interactive Path
ASX: ALL▲ +0.94%
Aristocrat Leisure (ASX: ALL) at A$61.40, charting a path to US$1bn in Interactive revenue by FY29 as iGaming and iLotteries scale. Buy, around 14% upside.
[BUY] ResMed (ASX: RMD) – Growth Levers in Place for a Re-Rate
ASX: RMD▲ +0.71%
Buy ResMed at A$26.68 with a A$46.70 target and 75% upside. The GLP-1 fear is fading, new growth levers are scaling, and it trades below medtech peers.
[BUY] Collins Foods (ASX: CKF) – Qld and WA Exposure Outweighs the Wage Cost Squeeze
ASX: CKF▼ -0.90%
Collins Foods (ASX: CKF) at A$8.27 trades ~20% below its historical PE. Qld/WA exposure plus a kiosk rollout offset wage pressure. 29% upside, Buy.
[BUY] WEB Travel Group (ASX: WEB): Near-Term Headwinds Create a Value Entry Point
ASX: WEB▼ -0.55%
BuyWEB Travel Group runs WebBeds, a global platform that connects hotels with travel agents, airlines and tour operators who sell their rooms to...
[BUY] Nick Scali (ASX: NCK): Margins, Growth and a Franked Yield
ASX: NCK▼ -1.43%
BuyNick Scali sells premium imported furniture through more than 60 Nick Scali stores in Australia and New Zealand, plus Plush Sofas stores and a...
[SELL] Macquarie Group (ASX: MQG) Why a 21% Rally Into Earnings Looks Stretched
ASX: MQG▲ +1.25%
Macquarie has rallied more than 21% in the past month, pushing the multiple to 24x forward earnings against a 10-year average of 16x. We walk through why the valuation looks stretched, the bull-case rebuttals (Aligned Data Centers, Qube), and why FY26 result on 8 May is the decision point.
[BUY] PWR Holdings (ASX: PWH) – De-risked and Returning to Growth
ASX: PWH▼ -0.17%
HoldPWR Holdings is a Gold Coast company that designs and makes advanced cooling systems for Formula 1, aerospace and defence, and emerging...
[BUY] BHP (ASX: BHP) Escondida Expansion Cements the Copper Growth Story
ASX: BHP▼ -0.90%
BHP has submitted a larger expansion proposal for the Escondida New Concentrator (ENC) project in Chile, upsizing the plant by roughly 20% and...
[BUY] Metcash (ASX: MTS) – Well Placed for the Hardware Cycle to Turn
ASX: MTS0.00%
BuyMetcash is an Australian wholesale distributor supplying independent retailers across grocery, hardware and liquor.Institutional sell-side...