These four ASX All Ords shares just earned hefty broker upgrades. Here's why

The ASX All Ords shares are forecast to surge as much as 98% over the year ahead.

| More on:
A young female investor sits in her home office looking at her ipad and smiling as she sees the QBE share price rising

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

These four ASX All Ords shares could help the All Ordinaries Index (ASX: XAO) achieve a strong year of returns.

That's according to Barrenjoey and Citi.

The brokers raised their outlook for the four companies, with the price target for one stock 98% above today's levels.

Which companies are we looking at?

Read on!

(Broker data courtesy of The Australian.)

Four ASX All Ords shares with improved forecasts

The first ASX All Ords share earning a broker upgrade is Mirvac Group (ASX: MGR).

Shares in the diversified property group are up 2.1% today, trading for $1.91 apiece. Despite that lift, the Mirvac share price remains down 7% in 2024. Mirvac shares trade on an unfranked trailing dividend yield of 5.1%.

And Barrenjoey foresees a significant upswing ahead for the company. The broker raised Mirvac stock to an overweight rating with a $2.10 price target. That's 10% above current levels.

The second ASX All Ords share with an improved broker outlook is property investor, developer and manager Dexus (ASX: DXS).

The Dexus share price is up 1.1% at the time of writing at $6.52 a share. Shares remain down 14% in 2024. Dexus shares trade on a partly franked trailing dividend yield of 7.7%.

Barrenjoey has a bullish outlook for the company. The broker raised Dexus to a neutral rating with a $7.50 price target. That's more than 15% above current levels.

Which brings us to the third ASX All Ords share getting a broker upgrade, Iluka Resources Ltd (ASX: ILU), the largest global producer of zircon.

Shares in the critical minerals miner are up 0.3% today at $6.39. Shares remain down 4% in 2024. Iluka Resources shares trade on a fully franked trailing dividend yield of 1.1%.

Citi foresees strong share price growth from here. The broker raised Iluka to a buy rating with a $7.80 price target. That's 22% above current levels.

Rounding off the list of ASX All Ords shares earning a broker upgrade is resource explorer FireFly Metals Ltd (ASX: FFM)

The FireFly share price is, well, flying higher today. Shares are up 16.1% at the time of writing, trading for 81 cents apiece. That sees the FireFly share price up 26% in 2024.

Investors enthusiasm has been stoked by this morning's announcement that FireFly has hit "more outstanding wide high-grade copper-gold intersections" from its drilling campaign at the Green Bay Copper-Gold Project, located in Canada.

Even after today's big boost, Barrenjoey thinks the stock can run a lot further from here. The broker started FireFly Metals at an overweight rating with a $1.60 target price. That's some 98% above current levels.

Should you invest $1,000 in Dexus right now?

Before you buy Dexus shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Dexus wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 7 February 2025

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Broker Notes

These ASX 200 shares could rise 10% to 40%

Analysts are tipping these shares to deliver big returns over the next 12 months.

Read more »

A woman presenting company news to investors looks back at the camera and smiles.
Broker Notes

Down 26%! Buy this ASX 200 stock while it's dirt cheap

Bell Potter thinks this blue chip has been oversold and is in the buy zone now.

Read more »

Rising share price chart.
Broker Notes

Morgans says these top ASX stocks could rise 15% to 20%

The broker thinks these shares could be heading higher from here.

Read more »

Man in mining hat with fists raised and eyes closed looking happy and excited about the Newcrest share price
Broker Notes

'Gamechanger': Top broker says this ASX mining share can rise over 100%

Big returns could be on the cards for buyers of this speculative mining stock according to Bell Potter.

Read more »

group of friends checking facebook on their smartphones
Broker Notes

How much could $5,000 invested in Telstra shares become in a year?

Do analysts think this telco giant could deliver good returns for investors?

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »