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Share tips 2024: this week’s stock tips


Share tips 2024: MoneyWeek’s roundup of the top share tips this week – here’s what the experts think you should buy


Five to buy
One to sell
The rest…

BY KALPANA FITZPATRICK
LAST UPDATED 14 JUNE 2024
If you’ve been keeping a close eye on share tips 2024, then don’t miss this weekly round up of the top stocks to consider for your portfolio each week.

The MoneyWeek share tips 2024 guide pulls together some of the best UK stocks from some of the top share tipsters around.

As well as the UK financial pages, we look at publications across the pond for investors who want to diversify their holdings internationally.

From investing in UK equities, European stocks, to finding the best performing stocks in the S&P 500 – here are our top share tips of the week.

Share tips 2024: top picks of the week
FIVE TO BUY

  1. QinetiQ (LON: QQ)
    The Telegraph
    QinetiQ’s shares have doubled since 2017. The defence contractor’s upgraded guidance, rising revenue, stable profit margin and potential for future acquisitions reflect its solid financial position. With Nato members expected to increase defence spending and a modest price/earnings (p/e) ratio, the company’s capital growth potential and share buyback programme make it an attractive investment. Some investors may be tempted to sell after large gains, but it’s “more logical” to keep buying. 451p
  2. Sanderson Design Group (LON: SDG)
    The Sunday Times
    Sanderson Design Group, a luxury interior-furnishings business hit by the housing market slowdown, has made significant improvements despite challenging conditions. It has increased inventory, boosted margins, and pocketed record licensing revenues from its designs. It has a solid balance sheet and has seen strong growth in the US. Falling inflation and increased consumer confidence after the general election could help the stock. 106p
  3. Oakley Capital Investments (LON: OCI)
    The Mail on Sunday
    Private equity has a bad reputation, but Oakley Capital Investments is different. It focuses on helping companies grow by working with management and taking a conservative approach to debt. It has a portfolio of 28 companies, and recently invested in a French healthcare consultancy and a German broadband business. Oakley’s shares are a “bargain”, with the group’s investments valued at 693p a share. The stock has risen by 18% in two years and there is further to go. 490p
  4. On the Beach (LON: OTB)
    Shares
    Investors are taking notice of On the Beach (OTB) after positive first-half results and an analyst upgrade. The online package holiday provider trades at just 8.6 times its September 2025 forecast earnings and is returning to meaningful dividend payments. There is potential for further market-share growth in the long-haul and premium holiday markets. OTB has also secured a partnership with budget carrier Ryanair, and consumers’ appetite for travel is expected to remain healthy. OTB is a “big value opportunity” for investors. 142p
  5. Paragon Bank (LON: PAG)
    Investors’ Chronicle
    Paragon’s strong interim results bode well. With robust deposit growth, a higher net interest margin, and improving mortgage and commercial lending, underlying pre-tax profit at the specialist lender rose by 13.5% to £146m. Signs of recovery have prompted Paragon to upgrade lending and net-interest margin guidance for the year. It’s “difficult to argue with the quality of the earnings and the expected shareholder returns”. 749p

ONE TO SELL

  1. Petrofac (LON: PFC)
    Investors’ Chronicle
    Petrofac has missed a coupon payment and is in default. The energy engineering and services company is seeking a cash injection of $300m to avoid insolvency, but not all lenders support the rescue package. Liabilities amount to $1.7bn, and Petrofac experienced a $222m cash outflow in 2023. Despite an $8bn order backlog, new contracts, and the wider industry’s rude health, Petrofac’s future looks uncertain. “Most investors probably left the sinking rig some time ago,” but those that didn’t will hope there’s something to salvage now its shares are no longer suspended. 22p

THE REST…
Taylor Wimpey (LON: TW)
The Telegraph
Housebuilder Taylor Wimpey’s outlook is “increasingly upbeat”, with falling inflation, expected interest-rate cuts and a faster-growing economy, leading to higher profitability and dividend growth. Given the 6.3% dividend yield, solid balance sheet and strong competitive position, Taylor Wimpey looks appealing. Buy (152p)

National Grid (LON: NG)
This is Money
National Grid is raising £7bn through a rights issue to support a £60bn plan to upgrade its energy-transmission networks. The ambitious proposals reflect a shift towards wind, solar and nuclear power. The underwritten issue ensures National Grid will receive the funds to fuel its growth. Shareholders could end up with 30% more stock in a business with a “decent record, a strong growth agenda, and attractive dividends”. 871p

Currys (LON: CURY)
Shares
Shares in Currys recently surged by 32%, with investors buoyed by the turnaround potential of the electrical retailer and upgraded pre-tax profit guidance. CEO Alex Baldock attributes the success to strengthening performance in the UK, Ireland and the Nordics, with sales and margins improving. Despite the recent rally, Currys’ shares are still trading at a low 8.5 times earnings. Keep buying (80p).

Dr. Martens (LON: DOCS)
Investors’ Chronicle
Dr. Martens’ sales for the year ended in March fell 12%, leading to a 43% drop in pre-tax profit to £97.2m. The boot maker slashed the dividend, while North America remains challenging. The firm expects a difficult year. Despite a new CEO and cost cuts, “the road to recovery looks long and exhausting”. Sell (86p).

1 Comment

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