True to form, the stock market is putting on a Santa Rally.
The S&P/ASX 200 Index (ASX: XJO) is now 2.6% up for December, and over in the US the S&P 500 Index (SP: .INX) is flying 1.7% higher.
Experts say the share market is always looking a half-year ahead, and it seems investors are convinced interest rate cuts are not far away.
In this buoyant mood with Christmas just 11 days away, what are the three best deals on the ASX right now?
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Doubled in the past year
The small-cap specialists over at LSN Emerging Companies Fund this week named MMA Offshore Ltd (ASX: MRM) as one that they continue to be bullish on, despite already having made plenty of money out of it.
Over the past 12 months, notwithstanding the dark economic clouds, the marine services provider has seen its share price more than double.
The recent news out of the annual general meeting kept impressing the LSN analysts.
"It indicated 1H24 EBITDA would be in the range of $55 million to $60 million, materially above expectations and 80-90% above 1H23, with all parts of the business… performing strongly."
It's a beneficiary of the global energy shortage, as that's the industry its clients are in.
"A combination of strong demand for offshore vessels and limited new supply of vessels in recent years is seeing day hire rates accelerate, driving strong profit growth."
Amazingly, all five analysts currently surveyed on CMC Invest rate MMA Offshore as a strong buy.
Almost doubled in 7 weeks
In the fintech world, Block Inc CDI (ASX: SQ2) shares have been breaking necks with their rapid rise.
Since the start of last month the stock price has rocketed an unbelievable 76%.
The team at QVG reckons Block Inc made an important pivot in recent months that's returned the business to the investors' good books.
"These products (e.g. the Square card reader terminal) have always promised lucrative economics at scale, but it hasn't been until recent history that the company has committed to a more [disciplined] investment in its cost base."
The fintech was also notorious for regularly issuing new stocks to staff, diluting existing shareholder value. But that's also stopped.
"They committed to a more cohesive organisational structure within Square, an absolute limit on headcount (below the current headcount) and, perhaps channelling Dr Evil, a $1 billion dollar buyback," read the QVG memo to clients.
"The 22% upgrade to CY24 EBITDA expectations didn't hurt either."
Much like MMA Offshore, all three analysts unanimously think Block Inc shares are a strong buy, according to CMC Invest.
One of the best deals for long-term investors
Resmed CDI (ASX: RMD) is apparently putting investor panic over GLP-1 weight loss drugs behind it, as the share price has popped more than 18% since 27 October.
Fairmont Equities managing director Michael Gable reckons this revival could catch fire because of the doubters having to cover their positions.
"We expect the shares to recover, fuelled by short covering," he told The Bull.
"ResMed revenue rose 16% in the first quarter of fiscal year 2024 compared to the prior corresponding period."
The professional community is still warm over the long-term prospects for the sleep apnoea device maker.
According to CMC Invest, 18 out of 24 analysts currently rate ResMed shares as a buy.
