ASX stocks have crept higher over the past month after a shocking period between mid-August and mid-September, when indexes tumbled.

The All Ordinaries Index (ASX: XAO) has climbed around 1% higher over the past month, and the S&P/ASX 200 Index (ASX: XJO) is up around 1.5% over the same period. 

The latest turnaround is great news for stressed investors.

However, not every ASX stock has followed the same trend. Some have continued tumbling.

But sometimes a share price pullback creates an opportunity for investors to buy shares in a good-quality company at a low price.

Here are two ASX stocks that have caught my eye recently. 

PLS Group Ltd (ASX: PLS)

PLS shares have fallen just shy of 30% at the time of writing to $2.90 per share. The shares are also now down 32% year to date.

The lithium miner’s shares started rebounding in August off the back of growing investor optimism that the lithium price recovery is improving, and then they rocketed higher again when the miner posted a strong FY26 result in mid-August.

PLS posted a 152% increase in revenue, a 59% increase in underlying EBITDA, and a swing into profit in NPAT (from a loss in the prior corresponding period).

But soon after the shares spiked in late August, they came crashing downwards.

There isn’t any price-sensitive news out of the company to explain the latest sell-off. It’s likely a combination of investors taking gains off the table and a softer lithium price.

As a pure-play lithium producer, the company is heavily tied to a fluctuating lithium price. 

And Trading Economics data shows that lithium prices have fallen sharply, from around CNY 160,000 per tonne in early September, to around CNY 102,000 this week. That’s around a 24% decrease over the past month alone, and comes amid growing concerns of softer demand combined with a market oversupply.

But brokers are still bullish that the ASX stock can rebound over the next 12 months. Market Index data shows that the majority have a buy rating on the shares, and the $5.14 average target price implies a 77% upside at the time of writing.

Paladin Energy Ltd (ASX: PDN)

Paladin Energy shares have fallen just over 28% over the past month, to a trading price of $7.29 at the time of writing. The shares are also now down 28% year to date, with the majority of that decline occurring since late August.

The ASX uranium stock has faced strong headwinds this year due to geopolitical uncertainty and a softer sentiment for uranium companies. 

Renewed conflict in the Middle East, higher inflation data, and concerns about further interest rate rises have also seen some investors reduce their exposure to higher-risk shares like Paladin Energy.

Last week, the miner also announced that its first-quarter FY27 output had dipped to 1 million pounds, further slashing investor confidence.

However, the uranium company maintained full-year FY27 guidance for its Langer Heinrich Mine. 

Paladin Energy is targeting annual uranium production of 5.1 to 5.6 million pounds for FY27, with a production ramp-up expected in the second half of the year when it mines higher-grade ores.

Investors might be spooked, but the experts are still confident in the ASX stock.

Market Index data shows the majority of brokers have a strong buy rating on Paladin Energy shares. The $13.07 average target price implies the ASX stock could rebound 79% over the next 12 months, at the time of writing.

The post 2 ASX stocks down 28% to 30% in a month I'd buy right now appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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.

Codan Ltd (ASX: CDA) has upgraded its profit and revenue outlook yet again, with strong demand for drone technology driving the increases.

Upgrade just a month after last update

The company last upgraded its profit outlook in late September, saying it would generate net profit of $160 million on revenue of $400 million to $410 million in the first half of this financial year.

Chief Executive Officer Alf Ianniello told the company’s annual general meeting on Tuesday that they now expected to do slightly better than this, with revenue expected to be $410 million to $420 million, and net profit expected to be not less than $162 million for the first half.

This profit level compares to $71.2 million in the first half the previous year, and a full year result for FY26 of $175.2 million.

Mr Ianniello said Codan was experiencing, “unprecedented levels and pace of demand for unmanned systems in conflict areas”, while outside of conflict areas the company’s communications division is expected to grow by about 20%.

The company’s Minelab metal detector business is tracking to book revenue for the first half which is slightly above that booked in the second half of FY26.

Mr Ianniello said of the outlook for the second half:

Regarding the full-year FY27 outlook for the Communications segment, while current indications are that the elevated sales order momentum may continue into the second half, order visibility in conflict regions is low and it is too early to determine whether the elevated demand and margin experienced in first-half FY27 will continue in second-half FY27. Balancing these factors, Codan is currently targeting full-year FY27 revenue growth for the Communications segment to be at the upper end of the previously announced 30% to 40% range compared to full-year FY26.

Shares performing strongly

Codan shares are currently up 86.8% over a one-year period and are changing hands for $62.69.

They recently hit a record high of $70.14.

Mr Ianniello said Codan was continuing to invest in the business, with $78 million spent on engineering over FY26, representing about 9% of group revenues.

He said:

This investment ensures the Group remains at the forefront of innovation and product development, supports our competitive positioning and drives our organic growth strategy. Our investment continues to be focused on future technologies including multi-waveform radios, AI-enabled dismounted soldier ecosystems, next-generation cloud-based command and control capabilities, and new detection products across recreational, gold and military markets. In FY26, ongoing innovation across our BluSDR range led to DTC securing its first orders for the sale of radios into multiple programs of record (PORs) for US military initiatives to drive sovereignty.

Codan is valued at $11.43 billion.

The post Codan has issued yet another profit upgrade appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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.

S&P/ASX 200 Index (ASX: XJO) shares are down 1% to 8,757 points on Tuesday.

Let’s take a look at some new ratings from the experts this week (courtesy The Bull).

Ramelius Resources Ltd (ASX: RMS)

The Ramelius Resources share price is $3.54, down 2.4% today and down 9% over 12 months. 

Michael Gable from Fairmont Equities has a buy rating on this ASX 200 gold mining share. 

Gable said: 

Gold prices appear to have bottomed after trading much higher in early 2026.

The share prices of various gold mining stocks have held up well, and this sign of strength is bullish.

I’m expecting gold mining stock prices to rally higher from here as they follow potentially higher gold prices.

RMS is an Australian gold producer with no debt and strong free cash flow.

It pays a fully franked dividend and has been buying back shares.

RMS is highly leveraged to an increasing gold price and the company’s outlook is bright.

Medibank Private Ltd (ASX: MPL)

The Medibank Private share price is $4.73, down 0.4% today and up 1% over 12 months. 

Andrew Wielandt from DP Wealth Advisory has a hold rating on this ASX 200 financial share. 

Wielandt said: 

Medibank remains one of Australia’s highest quality defensive businesses. The company benefits from a dominant position in private health insurance, recurring premium income and a strong balance sheet.

Population growth and an ageing demographic continue to provide long term support for the sector.

However, MPL now trades on a premium valuation relative to many other defensive businesses.

While the company remains well positioned, much of the good news is factored into the share price, leaving MPL a hold.

Washington H. Soul Pattinson and Co Ltd (ASX: SOL)

Washington H. Soul Pattinson and Co shares are $45.93, down 0.7% today and up 22% over 12 months. 

Toby Grimm from Baker Young has a sell rating on Soul Patts shares.

Grimm said: 

SOL merged with Brickworks in September 2025, a move that was strategically and financially beneficial, as shown by its strong net asset value and earnings and dividend growth in full year 2026.

SOL has a historic track record of solid returns, but we struggle to justify a recent premium without ascribing strong upside expectations for SOL’s unlisted investments.

SOL has significant exposure to private credit and data centre development, which has experienced diminishing market sentiment in recent months.

Following merger benefits and a stock trading above our $38.50 valuation, investors can consider taking profits at current levels.

The post Buy, hold, sell: Ramelius Resources, Medibank, Soul Patts shares appeared first on The Motley Fool Australia.

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