Are these ASX shares a buy, hold or sell according to Morgans after key updates?

Plenty of ASX shares are in the process of releasing quarterly updates and results. 

After more reports and key announcements this week, the team at Morgans have provided fresh guidance on these ASX shares. 

Let’s see if Morgans sees these ASX shares as a buy, hold or sell. 

6K Additive Inc (ASX: 6KA)

6K Additive is a US-based manufacturer, upcycling metal scrap into premium metal powders and alloying additives.

Yesterday, the company released Quarterly Activities and Cash Flow Report. 

The team at Morgans said the company delivered a strong March quarter update, with revenue up 88% to US$6.2m. 

This implies an annualised run-rate of ~US$25m, up from ~US$22m in 4Q25, driven by solid demand from both new and existing customers. The run-rate is also ahead of our CY26 revenue forecast of US$22.8m, with the company capturing market share and improving operational metrics. B

oth the Powder (+100%) and Alloy (+70%) products divisions delivered strong revenue growth on the pcp, with a higher order backlog supporting sales momentum over coming months.

Based on this guidance, Morgans said it thinks the company is well positioned to benefit from strong demand in metal additive manufacturing and US initiatives to reshore critical minerals, supported by its fully domestic powder production which reduces reliance on foreign-controlled feedstock. 

The broker has retained its speculative buy rating and $1.30 price target on these ASX shares. 

This target is approximately 71% upside from today’s share price. 

Atlas Arteria Ltd (ASX: ALX)

This ASX company is a global owner, operator, and developer of toll roads. 

It received an unsolicited, off-market bid earlier this week from infrastructure investor IFM Investors.

This sent the stock price surging 14% higher on Monday. 

The team at Morgans said given IFM’s existing large (and growing) stake in ALX and the OTPP poison pill we believe it unlikely that a counter-bidder will emerge. 

Hence, our assessment is that risk at current prices is skewed to the downside ($4.22/share) rather than upside ($5.10/share). TRIM into current share price strength.

ALX shares are currently exchanging hands for $4.84. 

Imricor Medical Systems Inc (ASX: IMR)

Imricor is a medical device company, which engages in the design, manufacture, and distribution of magnetic resonance imaging (MRI) compatible products for cardiac catheter ablation procedures.

The company just released a 1Q26 cash flow report.

Morgans said while sales remain modest the underlying cash burn was higher than the previous quarter and expected to normalise around US$6m. 

During the quarter one-off costs related to the purchase of 40 generators which were part of an in-house transitioning process. Cash at the end of the quarter was US$32.9m, representing 5.5 quarters of underlying cash burn.

We have made no changes to forecasts. However, a higher risk-free rate (house view), sees our DCF valuation reduce to A$2.63 (was $2.71). We maintain our SPECULATIVE BUY recommendation with numerous catalysts approaching.

This indicates a 35% upside from today’s stock price of $1.94. 

The post Are these ASX shares a buy, hold or sell according to Morgans after key updates? 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 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.