S&P/ASX 200 Index (ASX: XJO) shares are 1% higher at 8,797 points on Wednesday.Â
However, the market has fallen into the red over 12 months, down 0.6%, amid rising oil prices and interest rates.
The Reserve Bank of Australia (RBA) lifted the official cash rate from 4.35% to 4.6% yesterday.
Experts say another rate rise may be required in November to combat persistently high inflation.
Inflation rose from 3.5% over the 12 months to July to 4% last month, according to data released today.
Amid the market weakness, brokers have raised their ratings on several ASX shares this week.
Let’s see a sample.
Capricorn Metals Ltd (ASX: CMM)
The Capricorn Metals share price is $15.22, up 1.9% today.
Over the past month, this ASX 200 gold share has fallen 8%.
Bell Potter upgraded Capricorn Metals shares to a buy rating this week.
The broker raised its 12-month price target from $18.05 to $18.10.
This implies a potential 19% upside ahead.
Evolution Mining Ltd (ASX: EVN)
The Evolution Mining share price is $13.40, up 1% today.
Over the past month, this ASX 200 mining share has fallen 10%.
UBS upgraded Evolution shares to a buy call this week.
The broker increased its 12-month price target from $15.20 to $16.
This suggests a potential 19% gain ahead.
REA Group Ltd (ASX: REA)
The REA share price is $156.16, up 4.9% today.
Over the past month, this ASX 200 communications share has dropped 12%.
Bell Potter upgraded REA to a hold recommendation with a price target of $148.
This suggests a potential 5% downside ahead.
Healius Ltd (ASX: HLS)
The Healius share price is 42 cents, up 1.7% today.
Over the past month, this ASX 200 healthcare share has fallen 2%.
RBC Capital upgraded Healius shares to a hold rating with a 12-month price target of 42 cents.
This implies the stock is fully valued.
Alliance Aviation Services Ltd (ASX: AQZ)
The Alliance Aviation Services share price is 54 cents, up 6.9% today.
Over the past month, this ASX industrials share has fallen 18%.
Morgans upgraded Alliance Aviation Services shares to a buy rating on Monday.
The broker has a 12-month price target of 85 cents.
This indicates potential capital gains of 57% over the next year.Â
Pinnacle Investment Management Group Ltd (ASX: PNI)
Pinnacle Investment Management shares are $13.30 apiece, down 4.7% today.
Over the past month, this ASX 200 financial share has declined 21%.
UBS upgraded the stock to a buy rating but reduced its price target from $18 to $17.
This suggest a potential 28% upside ahead.
The post 6 ASX shares upgraded by experts amid a weak market appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.