As top brokers have started to pick up two ASX stocks, the market has started to bounce back to an ideal condition from a sluggish start. The 2 stocks are in a top position in the last 11 years. One stock, which is performing excellent today is Sensex Energy Ltd(ASX: SXY), and it has surged 10.5% to 32 cents after Credit Suisse upgraded the stock to outperform. Yesterday, the energy company announced a $50 million deal of selling its Roma North processing facility to Jemena and fall in a gas tolling agreement.
Credit Suisse says, “We now see SXY as resilient to sub-A$50/bbl oil prices under our base case CapEx assumptions. FY20 earnings are ~7.5% lower to account for toll.”
Another stock which is in the eyes of leading brokers to buy is Nearmap Ltd (ASX: NEA). Its share price jumped 7.3% to $3.96. The first stock is up 204% in just two years and the 2nd stock is up 954% in last four years. Macquarie Group Ltd (ASX: MQG) is at third position with outperfom rating and $4.22 share price. These two stocks are not the only ones to buy; there are many more. Avanza global has a team of expert stockbrokers which have uncovered other groups of ASX stock. These stocks are suitable for outperforming.
A leading broker said, “The aggregate market opportunity equates to >A$3.0bn p.a. in NEA’s existing markets. Australia, NEA’s original & most mature market, has achieved ~17% penetration, but the key US growth opportunity remains largely untapped (~1% penetration).”