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Top broker says BWX (ASX:BWX) share price is a buy

The BWX share price could be heading higher from here…
The post Top broker says BWX (ASX:BWX) share price is a buy appeared first on The Motley Fool Australia. –

The BWX Ltd (ASX: BWX) share price certainly has been on form in 2021.

Since the start of the year, the personal care products company’s shares have risen a sizeable 19% to $4.95.

Can the BWX share price keep climbing from here?

The good news for investors is that one leading broker believes the BWX share price can keep on rising.

According to a note out of Bell Potter, its analysts have retained their buy rating and lifted their price target on the company’s shares to $6.10.

Based on the current BWX share price, this implies potential upside of 23% over the next 12 months.

Why is Bell Potter bullish?

Bell Potter was pleased with BWX’s solid performance in FY 2021, particularly given the COVID-19 headwinds it was facing.

In case you missed it, BWX reported a 3.4% increase in revenue to $194.1 million and an 11.6% lift in EBITDA to $34.5 million. This was in line with management’s guidance for FY 2021.

Although Bell Potter acknowledges that the company is facing near term uncertainty, it remains very positive on its outlook. This is due to improving trading conditions in the US, margin expansion, and its acquisition of Go-To Skincare.

It commented: “Looking through near-term uncertainty we remain positive on the outlook for BWX, with improving conditions in North America, distribution gains and expanding margin outlook from BWX’s new facility all on track to deliver for the company over the next 12-24 months.”

“Factoring in changes from BWX’s result, and the Go-To Skincare acquisition and BWX’s Equity raising, we upgrade our EBITDA forecasts by +15.2% and +24.3% in FY22/FY23e respectively, driving no material change to our EPS in FY22e and an upgrade of +2.9% in FY23. We Maintain our Buy recommendation on BWX, with a revised price target of $6.10ps,” the broker concluded.

The post Top broker says BWX (ASX:BWX) share price is a buy appeared first on The Motley Fool Australia.

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

Before you consider BWX, you’ll want to hear this.

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

The online investing service he’s run for nearly 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 are better buys.

*Returns as of August 16th 2021

More reading

2 beauty ASX shares delivering attractive growth

Why the BWX (ASX:BWX) share price is moving higher today
Why Blackmores, BWX, Fortescue, & Wesfarmers shares are dropping

BWX (ASX:BWX) share price slips 6% on placement update
BWX (ASX:BWX) share price halted following FY21 results and Go-To acquisition

Motley Fool contributor James Mickleboro 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 owns shares of and has recommended BWX Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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