Brokers have released new research reports on three very different companies this week, but the common thread is a forecast of solid share price appreciation.

Let’s see who the brokers like.

Alliance Aviation Services Ltd (ASX: AQZ)

Morgans has belatedly run the ruler over Alliance’s FY26 results and has increased their price target on the company as a result.

The broker said the company achieved its FY26 guidance despite a mixed set of numbers, including second-half revenue coming in $19 million below their expectations.

This was due to weaker-than-expected wet lease revenue, partially offset by a strong performance from contracts, with contract revenue 9% ahead of Morgans’ estimates.

Looking forward, Alliance has resigned its largest wet lease contract, securing more favourable terms.

Morgans said:

While the fleet commitment reduces from 30 to 23 aircraft through FY27, AQZ expects materially improved profitability, margins and cash generation from the revised contract.

The broker said the company’s strategic reset had “materially improved the investment case”.

They added:

The renegotiation of its largest wet lease contract, fleet transition and renewed focus on balance sheet repair provide a clearer pathway to improved profitability, cash flow generation and deleveraging over the next 12-24 months. That said, FY27 remains a critical execution year. Delivery of margin guidance, restructuring benefits, fleet optimisation initiatives and leverage targets will be key to rebuilding investor confidence and supporting share price appreciation.

Morgans has a price target of 85 cents on Alliance shares compared to 51 cents at the time of writing.

Premier Investments Ltd (ASX: PMV)

Premier recently reported its full-year results, with revenue slipping 2.8% to $808 million and net profit falling 10.3%.

The retailer maintained a strong dividend payout, however, and said the start to FY27 had been steady with sales within 1% of the same period the previous year.

Macquarie analysts said in a new research note on the company that the result was in line with recently lowered profit guidance and that sales were broadly in line with their expectations.

The analysts said they were positive about Smiggle repositioning itself in the market to focus on older tweens and said the Peter Alexander store rollout program was strong.

Macquarie has a price target of $15.70 for Premier shares, compared with $11.82 at the time of writing.

Minerals 260 Ltd (ASX: MI6)

Macquarie said in its research note on Minerals 260 that the company’s Bullabulling Gold Project was the third-largest undeveloped project in Australia and the only large-scale, long-life asset not owned by a producer.

Macquarie added:

MI6 currently trades on an Enterprise Value to Resource ounce of $321/oz, a 31%/41% discount to ASX listed gold developers/ producers. We see scope for the stock to re-rate as the project is de-risked through FID, construction, commissioning and steady state production.

Macquarie has a price target of $1.30 on Minerals 260 shares compared to 85 cents at the time of writing.

The post 3 ASX shares tipped to return 38% to 60% 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 positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Macquarie Group and Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

RBC Capital Markets has initiated coverage of Macquarie Group Ltd (ASX: MQG) shares, with a bullish price target, saying the financial giant is “reinventing itself”.

Macquarie tipped for steady growth

The broker has issued a new research note on Macquarie, and said they expected the company to deliver mid-to-high single-digit earnings growth into FY29, “underpinned by operating leverage across asset management and personal banking”.

RBC said on the outlook for Macquarie:

Our ~6.5% FY26-29 earnings compound annual growth rate (CAGR) sees us ahead of consensus. What’s more, we think earnings risks are skewed to the upside given ongoing volatility in commodity markets, and potential for large asset sales. Macquarie is reinventing itself – pivoting towards recurring private markets asset management and domestic banking growth, while building out global energy trading and capital markets capabilities that provide earnings upside. The shift is away from balance sheet-intensive asset development and towards capital-light private credit and funds management.

RBC said the recent changes at Macquarie had been substantial, with the company refocusing on higher return on equity divisions and prioritising recurring revenue growth.

The commodities and global markets division would account for 39% of FY27 profit, RBC said, with the broker expecting about 8% commodity revenue CAGR from FY26 to FY29.

RBC said:

Near-term potential catalysts include the historically low EU gas storage levels and Qatar LNG outages, and longer-term potential catalysts include 1.5 million tonnes per annum of LNG offtake agreements (Texas LNG and AMIGO LNG) coming online from FY28E and data centre energy demand across constrained US power grids. We estimate every additional 10% commodity revenue growth adds ~3.5% to group FY27 earnings.

Macquarie Asset Management, which will account for about 28% of FY27 profit, “has lagged other divisions”, but is pivoting to private credit to unlock growth, RBC said.

Meanwhile, banking and financial services had been the most consistent compounder in the group, RBC said.

They added:

We forecast BFS divisional profit contribution to grow 15% in FY27E and then ease to 8-10% in FY28-29E as Australian mortgage system growth slows. However, given options to further reduce it cost-to-income ratio (54% in FY26, potentially heading 40% over time), we think BFS earnings growth may be able to surprise on the upside. MQG holds just 7.1% of Australian housing loans and 6.5% of deposits.

Macquarie shares looking like good value

RBC said the release of Macquarie’s first-half results on November 6 should be a catalyst for the stock, “as we see upside risks to consensus forecasts”.

RBC has a price target of $300 on Macquarie shares, compared with $244.60 at the time of writing.

Macquarie is valued at $91.89 billion.

The post How high could Macquarie shares go? RBC Capital Markets has its say 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 positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It hasn’t been a great year for The Lottery Corp Ltd (ASX: TLC) shareholders.

Its shares finished Monday down 0.62% at $4.78, leaving them just above their 52-week low of $4.75.

The stock has now fallen around 18% over the past 12 months and is down more than 7% in 2026.

Yes, that might have some investors wondering whether the recent weakness has created a buying opportunity.

After all, the company owns some of Australia’s best-known lottery brands and currently offers a fully franked dividend yield of around 3.5%.

But despite the lower share price, I won’t be buying.

Here’s why.

Higher rates are a concern

My biggest concern is what happens to consumer spending over the next 12 months.

The Reserve Bank of Australia (RBA) has already lifted interest rates 3 times this year, taking the cash rate to 4.35%.

And another increase looks likely today, with all 29 economists surveyed by Bloomberg expecting a 25-basis-point hike to 4.60%.

That’s not great news for households already dealing with higher mortgage repayments and rising living costs.

And this is where I see a potential problem for the company.

Lottery tickets are ultimately a discretionary purchase.

If households have less money after paying their mortgage and other bills, I think spending on lottery tickets could come under pressure.

With rates potentially staying higher into 2027, that’s a risk I’m not willing to ignore.

FY26 wasn’t exactly exciting

The company’s latest results haven’t given me much reason to rush in either.

FY26 revenue fell 2.7% to $3.58 billion, while underlying net profit after tax (NPAT) dropped 6.3% to $342.5 million.

Statutory net profit fell even further, declining 22.1% to $284.6 million.

To be fair, weak jackpot activity played a big part in the softer result.

There were no $100 million Powerball jackpots during the year, compared with 4 in FY25, while Oz Lotto had no $50 million jackpots.

Base games performed better, with turnover increasing 5.6%, while Keno revenue climbed 3% to $364.3 million.

But looking ahead, there are still a few things that concern me.

Lottery Corp expects operating expenses of between $305 million and $315 million in FY27, up from $296 million last year.

It also has a $1.145 billion payment coming up for its new Victorian lottery licence, which could put further pressure on the balance sheet.

None of this is enough to get me excited about buying the shares just yet.

Would I buy?

At $4.78, Lottery Corp shares are certainly more attractive than they were a year ago.

And there are still plenty of things to like about the business.

It owns some of Australia’s biggest lottery brands, generates strong cash flow, and maintained its fully franked 16.5-cent annual dividend.

But I don’t think the current economic environment is particularly favourable.

With earnings already moving backwards and household spending facing more pressure, I think there are better opportunities elsewhere.

For me, this is one ASX dividend share I’d stay away from for now.

The post This ASX dividend share is near a 52-week low. Would I buy? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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 The Lottery Corporation. The Motley Fool Australia has recommended The Lottery Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.