On Friday, the S&P/ASX All Ords Index (ASX: XAO) finished up 0.47% at 9,003.7 points.

On Friday afternoon, Morgans updated its ratings on three ASX All Ords shares.

Let’s take a look.

Minerals 260 Ltd (ASX: MI6)

The Minerals 260 share price closed at 62 cents, up 3.3% on Friday and up a whopping 425% over 12 months.

Minerals 260 is building one of Australia’s largest near-term gold mines, Bullabulling, in Western Australia.

The miner updated the Mineral Resource Estimate (MRE) and released the Pre-Feasibility Study (PFS) for the project this week.

The MRE increased a sizeable 38% to 190Mt at 1.0g/t Au for 6.2Moz.

On Friday, Morgans maintained its buy recommendation with a 12-month target of $1.38 target.

This suggests potential upside of 120% over the next 12 months.

The broker said:

MI6 has released its maiden Ore Reserve and PFS, confirming Bullabulling as one of Australia’s premier undeveloped gold projects.

The study outlines ~150kozpa production over the first decade, a 43% IRR, A$2.3bn NPV and a two-year payback period.

Importantly, the PFS was completed largely on the previous 4.5Moz resource base, with the upgraded 6.2Moz MRE providing scope for further reserve growth, mine plan optimisation and increased scale through the DFS.

Adairs Ltd (ASX: ADH)

The Adairs share price closed at $1.49, down 2.9% today and down 31% over 12 months.

Morgans downgraded Adairs shares from a buy rating to an accumulate recommendation on Friday.

The broker has a 12-month target of $1.70, suggesting 14% potential upside from here.

Morgans said:

ADH provided a FY26 trading update, with Adairs performing ahead of expectations, Mocka largely in line, but ongoing weakness in Focus on Furniture continues to weigh on group earnings.

Group EBIT is expected to be down ~1.3%.

Given the ongoing weakness in Focus on Furniture and the extended remediation time required, the group intends to recognise an impairment charge of $62-28m ($56-60m after tax). This will be excluded from underlying earnings.

We have made downward revisions to our earnings in FY26/27/28.

James Hardie Industries plc (ASX: JHX)

The James Hardie share price closed at $35.05, up 0.6% today and down 17% over 12 months.

Morgans downgraded James Hardie shares to a trim rating on Friday.

The broker lowered its 12-month price target from $39 to $36.

This suggests a potential 3% upside in the new financial year.

The broker said:

The JHX share price is up 25% in three months, leaving the business trading on a PER (NTM) of 22x, back towards the pre-AZEK average multiple of 21x. JHX has FY27 guidance in the market for EBITDA growth 4-8% – an achievable ambition.

However, by Sep-26 investor attention will turn to 2028 earnings expectations, and with Consensus factoring in +22% EPS growth we see downside.

It is our expectation that any US housing recovery will progressively be pushed into FY29/30, with JHX eking out mid to high single digit growth over the medium term.

Given JHX is trading back at its average multiple, despite the AZEK acquisition, and combined with the potential downside revisions to consensus forecasts, we are moving to a Trim rating with a $36.00/sh price target.

The post Buy, hold, sell: James Hardie, Adairs, Minerals 260 shares appeared first on The Motley Fool Australia.

More reading

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• BHP shares may not double in 12 months but this ASX mining share could
• Are Adairs shares a buy, hold or sell after their trading update?

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 Adairs. The Motley Fool Australia has positions in and has recommended Adairs. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Once a week, I like to look at ASIC’s short position report to find out which ASX shares are being targeted by short sellers.

That’s because I believe it is worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, listed below are the 10 most shorted shares on the ASX this week according to ASIC.

The top ten most shorted ASX shares

• Lotus Resources Ltd (ASX: LOT) continues its run as Australia’s most shorted share with short interest of 22.8%. The ASX uranium developer suspended its shares last month while it prepares an update on its Kayelekera Project. Lotus shares are due to return to trade on 16 July.
• Domino’s Pizza Enterprises Ltd (ASX: DMP) has seen its short interest ease again to 13.9%. Short sellers are betting heavily against the pizza chain operator’s turnaround plans.
• DroneShield Ltd (ASX: DRO) has short interest of 11.9%, which is down slightly since last week. Short sellers have been targeting the counter-drone technology company after it revealed an ASIC investigation into some announcements and insider share sales.
• Telix Pharmaceuticals Ltd (ASX: TLX) has short interest of 11.9%, which is down slightly since last week. This radiopharmaceuticals company has seen its short interest ease since announcing the successful outcome of a Type B meeting with the US FDA.
• Boss Energy Ltd (ASX: BOE) has short interest of 11.8%, which is down week on week again. There are concerns over this uranium miner’s production outlook. An update is due by the end of August.
• 4DMedical Ltd (ASX: 4DX) has seen its short interest rebound to 11.5%. This medical technology company’s shares trade on sky-high multiples. It appears that short sellers believe this valuation is excessive.
• Flight Centre Travel Group Ltd (ASX: FLT) has 11.4% of its shares held short, which is flat week on week. Short sellers may be expecting the travel agent giant’s near term performance to be negatively impacted by the Middle East conflict.
• Paladin Energy Ltd (ASX: PDN) has 11.4% of its shares held short, which is down week on week. Short sellers appear to be betting against the uranium bull market.
• CAR Group Limited (ASX: CAR) has short interest of 11.3%, which is down since last week. This may be due to fears that higher interest rates could slow the growth of the automotive market and listing volumes.
• Treasury Wine Estates Ltd (ASX: TWE) has seen its short interest ease to 10.9%. The wine giant, which owns the Penfolds brand, is facing tough trading conditions because of the cost of living crisis.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

More reading

• ASX 200 energy shares rebound after US-Iran peace deal falls apart
• 3 ASX shares I’d buy with $5,000 this week
• Here are the top 10 ASX 200 shares today
• Up 1,636%, but can 4DMedical shares reclaim their record high?
• 9 ASX 200 shares with reiterated buy calls this week

Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises and Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, DroneShield, Telix Pharmaceuticals, and Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has recommended CAR Group Ltd, Domino’s Pizza Enterprises, Flight Centre Travel Group, and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

On Friday, the S&P/ASX 200 Index (ASX: XJO) had a strong session and charged higher. The benchmark index rose 0.5% to 8,806 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set for a positive start to the week following a solid session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 43 points or 0.5% higher. In the United States, the Dow Jones rose 0.3%, the S&P 500 climbed 0.4%, and the Nasdaq pushed 0.3% higher.

Oil prices ease

ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a subdued start to the week after oil prices eased on Friday night. According to Bloomberg, the WTI crude oil price was down 0.95% to US$71.41 a barrel and the Brent crude oil price was down 0.4% to US$76.01 a barrel. This couldn’t stop oil prices from recording a decent weekly gain amid rising tensions in the Middle East.

Buy Mesoblast shares

Mesoblast Ltd (ASX: MSB) shares could be in the buy zone according to Bell Potter. This morning, the broker has essentially upgraded the biotechnology company’s shares to a buy rating (from speculative buy) with a $4.45 price target. This is almost double its current share price. It said: “MSB is expected to commence submission of the various modules of the Biological Licence Application for Rexlemestrocel-L in heart failure and commence recruitment of the adult study in GvHD (for Ryoncil). We expect MSB will also engage in preliminary discussions with distributors for Rexlemestrocel-L in the chronic lower back pain indication, ahead of the phase 3 readout in mid CY27. Investment thesis: TP $4.45 (unchanged) There are no changes to earnings and we retain our $4.45 target price and Buy rating. As MSB is generating strong revenue growth the Speculative risk rating is no longer warranted.”

Gold price falls

It could be a soft start to the week for ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) after the gold price softened on Friday night. According to CNBC, the gold futures price was down 0.65% to US$4,113.7 an ounce. Increased interest rate hike bets have been weighing on the precious metal.

Buy Aroa shares

Bell Potter also sees major upside in Aroa Biosurgery Ltd (ASX: ARX) shares at current levels. This morning, the broker has retained its buy rating and $1.09 price target on the biotechnology company’s shares. It commented: “Beyond the clinical readouts, 2H CY26 should bring further clarity on the reimbursement environment. Key watchpoints should include the final PFS and OPPS rules following CMS’s proposal to retain the current flat-rate methodology for CY27, while any revised DFU/VLU LCDs could further raise the evidence threshold and narrow the reimbursable product set.”

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

More reading

• ASX 200 energy shares rebound after US-Iran peace deal falls apart
• How much do I need in my superannuation to get $50k per year in passive income?
• Here are the top 10 ASX 200 shares today
• ASX 200 snaps its losing streak as miners and banks rally
• Mesoblast shares: Q4 earnings top projections

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. 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.