Why Vulcan (ASX:VUL) and these ASX shares are smashing the market in 2021
James Mickleboro | January 21, 2021 7:00am |
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While the
S&P/ASX 200 Index (ASX: XJO) has started 2021 in a positive fashion, its modest gain is nothing in comparison to some that have been made this year.
Three ASX shares which are on fire in 2021 are listed below. Here’s what you need to know about them:
The BrainChip share price has raced 48% higher since the start of 2021. This gain appears to be related to announcements late in the year that caught the eye of investors. The artificial intelligence technology company revealed that NASA has placed an order for its Akida Early Access Evaluation Kit. It also announced the signing of an intellectual property license agreement with Renesas Electronics America.
Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a large number of broker notes this week.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Australia and New Zealand Banking GrpLtd(ASX: ANZ)
According to a note out of
Morgans, its analysts have retained their
add rating and increased their price target on this banking giant’s shares to $26.00. The broker notes that APRA has removed dividend restrictions on the banks from 2021. It expects this to result in ANZ lifting its dividend payout ratio to upwards of 70% in the coming years. In light of this, Morgans is forecasting a $1.27 per share dividend in FY 2021 and a $1.50 per share dividend in FY 2022. Based on the current ANZ share price of $23.39, this represents 5.4% and 6.4% dividend yields, respectively.