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Broker reiterates buy ratings on 2 ASX shares

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ASX shares Generation Development Group Ltd (ASX: GDG) and Airtasker Ltd (ASX: ART) just released quarterly updates. 

Following these results, the team at Morgans updated their guidance on both ASX shares. 

Here’s what the companies reported, and the broker’s updated view. 

Generation Development Group

Yesterday, Generation Development Group released a March 2026 quarterly update. 

This included:

  • Funds Under Management increasing to $34.8 billion, up 30% vs the PCP for its subsidiary Evidentia Group
  • FUM of $5.3 billion at 31 March 2026, up 35% on the prior year ended 31 March 2025 for Generation Life. 

It was reported earlier today that these results prompted a 22% share price crash yesterday. 

However this fall has now created a buy-low opportunity according to Morgans. 

The broker has lowered its price target to $6.16 (previously A$6.66). 

However from today’s stock price hovering around $3.62, this indicates an upside potential of 70%. 

We continue to be attracted to GDG’s exposure to structural growth areas, and its strong competitive positioning in these markets. With GDG trading at a >20% discount to our target price, we maintain our Buy recommendation.

Morgans isn’t the only broker with optimism around these ASX shares. 

Bell Potter also has a buy recommendation, along with a price target of $6.20. 

Airtasker

Airtasker is an online platform that connects people wanting to outsource tasks with people who are willing to do them for a fee. 

The company also recently released a quarterly update.

It reported: 

  • Australian Gross Merchandise Value (GMV) of $56.7m, up 17.8% on pcp
  • 3Q26 Group revenue was +~12% on the pcp to A$15.2m. 

On the back of Q3 performance, Airtasker re-affirmed FY26 guidance issued in February. 

Based on this guidance, the team at Morgans retained its buy recommendation, but slightly lowered its price target. 

Whilst our forecasts remain unchanged at this juncture, we adopt the new house risk-free rate of 4.6% (from 4.2%) into our valuation. Our price target is lowered to A$0.47 from A$0.51 as a result. We retain our BUY recommendation.

At the time of writing, Airtasker shares are down 3% today and are hovering around 25 cents per share. 

From this price, the updated target from Morgans indicates an upside potential of 88%. 

The post Broker reiterates buy ratings on 2 ASX shares appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker. The Motley Fool Australia has recommended Generation Development Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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