While the market weakness we have experienced this week is disappointing, I believe it is an opportunity for investors to buy shares at more attractive prices.

Two ASX shares which have pulled back notably this week are listed below. Here’s why I would buy them:

Bravura Solutions Ltd (ASX: BVS)

The Bravura Solutions share price has fallen over 8% this week. This means its shares are now trading almost 27% below their 52-week high. I think this is a buying opportunity for long-term focused investors. Especially given Bravura’s strong growth potential and attractive valuation.

Bravura is provider of software products and services to financial institutions. These include major institutions such as BNP Paribas, Fidelity, and Mercer. Arguably the key product in its portfolio is the Sonata wealth management platform. This high quality platform allows its users to connect and engage with their clients anytime, anywhere, through computers, tablets, or smartphones. It also simplifies legacy client systems into one unified customer-centric solution.

Combined with recent acquisitions, which have opened it up to new and lucrative markets, I believe the future is very bright for this growing company.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is down over 11% since this time last week. I think this is an opportunity for investors to buy the shares of one of the most promising healthcare companies at a fairer price.

I’m a big fan of the infection prevention company due to the strong growth potential of its trophon EPR product and the upcoming launch of new products targeting unmet needs. In respect to the former, the trophon EPR disinfection system for ultrasound probes is regarded as the best in its class. At the end of the first half its installed base stood at 22,500. This represents just under 19% of its global market opportunity. I believe this footprint can grow materially in the future and drive strong unit sales and recurring revenues from the consumables it requires.

Furthermore, the company has revealed that the secretive new products it has under development have similar market opportunities. In light of this, I think Nanosonics is in a fantastic position to deliver strong sales and earnings growth over the next decade.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd and Nanosonics Limited. The Motley Fool Australia has recommended Bravura Solutions Ltd and Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a large number of broker notes this week.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Harvey Norman Holdings Limited (ASX: HVN)

According to a note out of Citi, its analysts have retained their buy rating and lifted the price target on this retailer’s shares to $4.50. The broker was pleasantly surprised with Harvey Norman’s sales growth during April and May. And while it isn’t clear whether its bottom line is growing as strongly, Citi appears confident that the company will deliver a solid full year result in August. I agree with Citi and feel Harvey Norman could be a decent option.

Newcrest Mining Limited (ASX: NCM)

Analysts at UBS have retained their buy rating and $35.00 price target on this gold miner’s shares. This follows the release of drilling results from Red Chris and Havieron this week. UBS was pleased with the results from Havieron and believes they are strong enough for management to seriously consider mining the orebody. It doesn’t feel this potential has been priced into its shares. I think UBS makes some good points and Newcrest could be worth considering if you’re looking for exposure to gold.

Opthea Ltd (ASX: OPT)

A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and $5.20 price target on this biotech company’s shares. This follows the release of data from its study evaluating OPT-302 in the treatment of Diabetic Macular Edema. Goldman notes that the data was unconvincing and has raised more questions than answers. Nevertheless, the broker believes the near-term story remains broadly unchanged. This is because OPT-302 has already demonstrated a statistically significant benefit in a larger trial for Wet Age-Related Macular Degeneration. This has a significant market opportunity. I agree with Goldman Sachs and think Opthea could be a top long term option.

More reading

• Keep a watch on these 3 ASX trends next week
• 3 gold mining shares that may be a buy today
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• Why the Newcrest share price is up today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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The Orcoda Ltd (ASX: ODA) share price is one of the few shining lights on the market today. Despite the ASX in a sea of red, Orcado shares are up 40.91% at the time of writing on the back of a contract win.

Despite this rise, however, Orcoda shares are still very much at the smaller end of the ASX spectrum. With shares last changing hands at 15.5 cents, the company’s market capitalisation currently stands at around $18 million.

Orcoda is a logistics solution provider that specialises in business efficiency and optimisation of processes. The company focuses on three key business sectors: healthcare, transportation and resources.

Why is the Orcoda share price defying gravity?

Shortly after the market closed yesterday, Orcoda announced that its subsidiary, Resource Connect Logistics, has signed a nine-year contract with the Mt Buller Ski Resort in Victoria.

The contract comprises a five-year term plus two additional two-year options. Under the arrangement, Resource Connect Logistics will provide guest transit services and rideshare services to Mt Buller Ski Resort customers during the annual ski seasons.

With this, Orcoda will be tasked with ensuring all customers are efficiently moved around the mountain during its seven days a week, two shifts per day operations.

The contract is expected to generate around $2 million to $3 million revenue per annum. And if it runs the full 9-year term, contract revenue value is estimated to be between $20 million and $30 million.

To put these figures into perspective, Orcoda generated $2.4 million revenue in FY19.

The company stated it will be using the technology it has developed for its resource projects and healthcare projects to deliver the Mt Buller project, along with specifically developed platforms for the ski resort.

The company will also work closely with its key supplier Busfleet who supplies Orcoda will all of its buses and drivers.

Management commentary

Commenting on the contract win, Orcoda managing director Geoff Jamieson said:

“Orcoda was awarded this long term contract to provide transport services by the Mt Buller Resort because Orcoda management have a proven history of effectively managing high volume transport requirements, with long term customers, across multiple industries, whilst utilising best in class efficiency and optimization software.”

“COVID-19 restrictions may have an effect on our achievements this ski season but the nature of this agreement should provide long term benefits to the customers of Mt Buller Resort and Orcoda stakeholders,” he added.

More reading

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• Keep a watch on these 3 ASX trends next week

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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