Canaccord Genuity has just published the latest edition of its Invest Now publication, in which it lists its “highest conviction investment ideas”.

They’ve named two new ASX 200 shares in this list, which I’ll get to shortly.

First, let’s look at their broader take on the economy.

Relief rally could be on the way

As a starter, they are basing their outlook on a solution to the Middle East conflict, which has been in a stalemate for some weeks now.

As they said:

A Middle East resolution in the relatively near future remains our central case. Both sides ultimately have strong incentives to negotiate a deal. There is still a decent but finite buffer of energy product reserves, but the clock is ticking on a deal being struck in coming weeks.

CG said that a truce would see a bigger “relief rally” in markets outside of the US, in their opinion, “however the global growth outlook has undoubtedly been tempered by the events in the Middle East, which should favour the tech-led US market at the margin once any short-term relief rally has faded”.

In Australia, CG said the underperformance of the local market versus global equities since the market’s February highs has been “stark”.

They said:

The initial period of relative underperformance in March was related to Australia’s perceived sensitivity to a global energy shock as the outbreak of the US-Iran war saw investors move to price significant downside risks for the global economy. While Australia is well ahead of its late March lows, the local rebound has been held back by a number of factors.

These include a lack of technology exposure, rising domestic macroeconomic concerns, and some disappointing earnings announcements.

ASX 200 shares to consider

In terms of the stocks they like in this scenario, they have added Aristocrat Leisure Ltd (ASX: ALL) and TechnologyOne Ltd (ASX: TNE) to their list.

They said their conviction in Aristocrat had improved materially since its “broadly in-line” first-half result.

They added:

The result suggests the business has returned to consistent execution and double‑digit earnings growth, while importantly demonstrating that it continues to gain share in US land-based gaming, which is key to our thesis. Pleasingly, iGaming momentum also remains strong as the high-growth segment scales towards its US$1bn FY29 revenue target.

With regards to TechnologyOne, they said it was a high-quality software business, “with a deeply embedded customer base across key verticals including government and education”.

They added:

The company’s operational momentum is strong, with FY26 tracking towards the top end of guidance and FY27 is shaping up as another ~20% profit before tax growth year. We remain confident in TNE’s resilience against AI disruption, runway for growth, supported by earnings upgrades from its AI tool Plus.

Other companies in CG’s favoured list locally include Alcoa Corporation (ASX: AAI), Evolution Mining Ltd (ASX: EVN), and Telix Pharmaceuticals Ltd (ASX: TLX).

The post Canaccord Genuity has just added these two ASX 200 shares to its best ideas list appeared first on The Motley Fool Australia.

More reading

• Which are the best ASX shares to buy now for FY27?
• 3 ASX 200 shares that could be too good to ignore in June
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• 3 ASX 200 tech shares to buy now: expert

Motley Fool contributor Cameron England has positions in Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Technology One and Telix Pharmaceuticals. The Motley Fool Australia has recommended Technology One and Telix Pharmaceuticals. 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 0.5% to 8,641.8 points on Friday.

Amid a highly volatile market, brokers downgraded several ASX 200 shares this week.

Let’s take a look at their new ratings and 12-month share price targets for six ASX 200 stocks.

CSL Ltd (ASX: CSL)

The CSL share price is $96, up 3.7% today.

The market’s biggest ASX 200 healthcare company has lost 44% of its valuation in the calendar year to date (YTD).

Jefferies downgraded CSL shares to a hold rating and slashed its price target from $195 to $108.

This still implies a potential 12% upside ahead.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price is $39.77, down 0.9% on Friday.

Over the past six months, this ASX 200 tech share has fallen 46%.

WiseTech Global is no longer the market’s biggest tech company. It handed over the reins to Xero Ltd (ASX: XRO) last month.

JP Morgan downgraded WiseTech shares to a hold rating with a $40 target this week.

This suggests the stock is already fully valued.

Telstra Group Ltd (ASX: TLS)

The Telstra share price is $4.95, down 0.3% today.

The ASX 200 telco share has fallen 9% over the past month.

Macquarie downgraded Telstra shares to a hold rating this week.

The broker shaved its 12-month price target from $5.64 to $5.57.

This suggests just a 2% potential upside left in the year ahead.

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is $12.90, down 3.2% today.

This ASX 200 gold mining share has fallen 11% YTD.

Goldman Sachs downgraded Capricorn Metals shares to a hold rating on Thursday.

The broker lowered its 12-month target from $17.60 to $16.90.

This still implies a healthy potential upside of 29% ahead.

Find out why the gold price has fallen since the Iran war began here.

IGO Ltd (ASX: IGO)

The IGO share price is $8.96, down 3.2% today.

This ASX 200 lithium share has risen 9% YTD.

JP Morgan downgraded IGO shares to a hold rating this week.

However, the broker lifted its 12-month price target from $8.50 to $9.50.

This indicates capital gains of 7% over the next year. 

Harvey Norman Holdings Ltd (ASX: HVN) 

The Harvey Norman share price is $4.43, up 0.8% on Friday.

This ASX 200 consumer discretionary share has taken a big tumble in 2026.

The furniture retailer has lost 37% of its valuation YTD.

Macquarie downgraded Harvey Norman shares to a hold rating this week.

The broker slashed its price target from $6.60 to $4.50.

This suggests potential capital growth of just 2% over the next year. 

The post 6 ASX 200 shares downgraded by analysts this week appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares that could be too good to ignore in June
• Here’s what brokers tip for CSL shares over the next 12 months
• Why Telstra and these defensive ASX dividend shares could be top buys
• 3 ASX 200 tech shares to buy now: expert
• 3 ASX 200 shares reporting major insider buying and selling

JPMorgan Chase is an advertising partner of Motley Fool Money. 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 CSL, Goldman Sachs Group, JPMorgan Chase, Jefferies Financial Group, Macquarie Group, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Harvey Norman, Macquarie Group, Telstra Group, and WiseTech Global. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Perpetual Ltd (ASX: PPT) is giving investors something else to consider after a rough start to 2026.

The financial services group is higher on Friday after announcing a new acquisition and an update on its debt position.

At the time of writing, the Perpetual share price is up 2.13% to $15.84.

It was stronger earlier in the session, reaching $15.96 in morning trade before some investors took profit.

The move offers some relief after a difficult run for the stock.

Even after today’s gain, Perpetual shares are still down around 15% in 2026.

Perpetual makes a new acquisition

According to the release, Perpetual has entered a share sale deed to acquire 70% of Interfi Systems Pty Ltd.

Interfi is a loan servicing technology business with around $55 billion in assets under administration (AUM).

The company provides loan administration, arrears management, recovery, collections, and special servicing services.

Perpetual said the deal is part of its plan to grow its Corporate Trust business and expand its Digital and Markets division.

The acquisition price was not disclosed.

Perpetual said the deal will be funded from internally generated cash flows and is expected to be completed before the end of June.

The company also has an option to acquire the remaining 30% of Interfi shares by FY31.

Interfi founder and Managing Director Michael Dilworth will continue with the business.

Why investors are buying

The market appears to be focusing on both sides of today’s update.

On the acquisition side, Interfi gives Perpetual more exposure to loan servicing technology, which sits alongside its existing corporate trust operations.

Management expects the acquisition to contribute to growth in the Corporate Trust Digital and Markets division in FY27 and beyond.

Chief Executive Bernard Reilly said the deal supports Perpetual’s aim of building a broader digital ecosystem and automating end-to-end loan functions.

The balance sheet update is also likely helping sentiment.

Perpetual said its gross debt is expected to fall by about 15% over the six months to 30 June.

Gross debt stood at $742 million at 31 December 2025.

Debt remains a key focus

Perpetual has been under pressure this year, and investors are still watching the balance sheet closely.

The company has been trying to tidy things up after several years of deals and corporate changes.

Its wealth management, asset management, and corporate trust operations have all been under the microscope as investors look for a simpler business.

So, the lower debt guidance is a welcome sign, especially after such a difficult run for the share price.

The post This beaten-down ASX stock just jumped on a $55 billion deal appeared first on The Motley Fool Australia.

More reading

• Perpetual to acquire Interfi majority stake; debt reduction underway
• Why Australia’s $4 trillion superannuation pool is creating a once-in-a-generation opportunity for these ASX stocks
• Why these 2 ASX superannuation stocks could quietly build serious wealth
• Perpetual 1H26 earnings: strategy shift and Wealth Management sale

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 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.

Picking a share that’s undervalued and enjoying the subsequent share price gains is what every investor is after, but it’s easier said than done.

I’ve had a look at the broker reports published this week and selected three that make a good case for potentially lucrative upside in the shares covered.

Let’s look at what they’re saying.

Seek Ltd (ASX: SEK)

Shares in the employment website and technology company have struggled over the past 12 months, shedding about 45% of their value over the period.

The analyst team at Jarden thinks the shares are oversold and bases this opinion on a “proprietary tracker” it has built to assess how Seek is faring.

In short, they think the company is well-positioned.

As they said:

We believe Seek can easily achieve its ‘low double digit’ yield growth guidance for FY26 … 2H26’s strong momentum gives us confidence that Seek can achieve its ‘high single digit’ % yield growth ambition in ANZ, with upside risk. Our proprietary tracker indicates that Seek has maintained its year-on-year pricing growth from 1H26 into 2H26.

Jarden notes that it believes the Australian labour market is past its peak, which will be a headwind for the company.

Jarden has a price target of $23.25 on Seek shares, down from $23.50, but still well above the current price of $13.07. If achieved, the price target would constitute a 77.8% gain.

Propel Funeral Partners Ltd (ASX: PFP)

Propel just announced three acquisitions in New Zealand, which will cost it $9.1 million and expand its network into regional markets.

Together, the companies being acquired generate about $4 million in revenue from more than 700 funerals annually and operate from four locations.

The company also gave guidance on its expected performance this year, saying revenue would be in the range of $225 to $230 million compared to last year’s $225.8 million, while EBITDA would be in the range of $54.5 to $56.5 million, compared to last year’s $56.2 million.

Macquarie downgraded its outlook for the company across the next three years, but still has a share price target of $5.50, well above current levels of $3.24. If achieved, the price target would constitute a 69.8% gain.

IperionX Ltd (ASX: IPX)

This company this week published a definitive feasibility study for its Titan critical minerals project in the US, which said the project could be developed over two stages for US$381.3 million.

The mine, which would produce titanium, zircon, and heavy rare earth concentrate, was expected to have a mine life of 14 years and to earn US$2.8 billion in EBITDA over that period.

Bell Potter, in a report issued this week, has a speculative buy rating on the shares, with a price target of $8.25 compared to the current price of $5.43.

If achieved, the price target would constitute a 51.9% return.

Bell Potter said the company now had the opportunity to forge ahead with funding and partnership discussions.

The post Brokers name 3 ASX shares poised for 52% to 78% gains 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.

The S&P/ASX 200 Index (ASX: XJO) is ending the week in a subdued manner. In afternoon trade, the benchmark index is down 0.6% to 8,634.4 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price is down 1.5% to $161.30. This may have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has retained its underweight rating on CBA’s shares with a reduced price target of $125.00. The broker has named Australia’s largest bank as its least favoured major bank. Morgan Stanley’s price target implies potential downside of 22% from current levels.

PLS Group Ltd (ASX: PLS)

The PLS share price is down over 3% to $5.93. Investors have been selling the lithium miner’s shares despite there being no news out of it today. However, it is worth noting that most lithium stocks are falling on Friday. In addition, PLS recently reported some heavy insider selling, as we covered here.

Resolute Mining Ltd (ASX: RSG)

The Resolute Mining share price is down 6% to $1.12. Investors have been selling the gold miner’s shares today after it released a disappointing update on its Syama operation. That update revealed that production during the second quarter of FY 2026 has been impacted by logistical and supply chain disruptions. As a result, Resolute Mining now expects Syama’s second-quarter gold production to be around 30,000 ounces. This is well short of its original expectation of 40,000 ounces to 45,000 ounces. The company’s CEO, Chris Eger, said: “Recent performance at Syama has been below expectations despite the significant changes implemented in Mali. These issues are well understood, and our focus is on stabilising operations and restoring consistent performance. Importantly, the broader business continues to perform well. The Company remains cash generative, supporting ongoing investment in growth, including the Doropo development, which continues to progress to plan.”

Silver Mines Ltd (ASX: SVL)

The Silver Mines share price is down 3.5% to 13.5 cents. This morning, this silver developer announced that it has entered into an option underwriting agreement with Petra Capital to fully underwrite the exercise of unlisted options. It said: “The Company has decided to enter into the Underwriting Agreement for the purpose of providing certainty that it will raise additional funds of $7,556,782.”

The post Why CBA, PLS, Resolute Mining, and Silver Mines shares are dropping today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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.

With only a few hours left before Friday’s closing bell, the S&P/ASX 200 Index (ASX: XJO) is down 1.3% for the week, but don’t blame these three surging ASX 200 stocks.

One of this week’s top performers is a global wine company, one is a technology-linked health imaging company, and the third is heavily involved in the AI revolution.

So, which ASX shares are leaping higher in this week’s slumping market?

Read on!

Treasury Wine Estates Ltd (ASX: TWE)

Our first outperformer is Treasury Wine.

Shares in the global wine company closed last week trading for $4.24. At the time of writing, Treasury Wine shares are changing hands for $4.63 apiece. That sees this ASX 200 stock up 9.2% for the week.

Treasury Wine shares closed up an impressive 13.1% on Thursday after the company announced details of its five-year transformation plan at its 2026 Investor Day.

Investors reacted positively, with the company aiming for $100 million in annualised cost reductions.

Management provided full-year FY 2026 earnings before interest, tax, and significant items (EBITS) guidance in the range of $480 million to $490 million.

Treasury Wine also said it expects to return to revenue growth from FY 2028.

Megaport Ltd (ASX: MP1)

Megaport shares are also enjoying a strong run, with today marking only the second day this week that the ASX 200 stock has traded.

Shares in the AI-focused network services company closed on Monday trading for $16.61.

Megaport shares entered a trading halt on Tuesday while the company conducted a $518 million capital raising via a fully underwritten entitlement offer.

This morning, the stock recommenced trading on the ASX after announcing that it had successfully completed the institutional part of that capital raising.

Management expects the upcoming retail component of the capital raise to bring in another $309 million. The company plans to use the funds, in part, to pursue its global growth ambitions following a series of new AI infrastructure contracts.

“This exceptional outcome reflects the strong support of our institutional shareholders and their confidence in our strategy,” Megaport CEO Michael Reid said.

Following this news, the Megaport share price is up 8.4% today at $18.01. That sees shares up 16% since last Friday’s close.

Which brings us to…

Pro Medicus Ltd (ASX: PME)

Pro Medicus shares are lifting off this week following two new contract announcements.

Shares in the health imaging company closed last Friday trading for $132.26. At the time of writing, shares are swapping hands for $163.82.

That puts this ASX 200 stock up 23.9% in this week’s sinking market.

Pro Medicus shares closed up 9.2% on Monday after the company reported inking a new five-year contract renewal with Allegheny Health Network, valued at $28 million.

“AHN has now renewed for a third contract term, reflecting the strength of our long-standing partnership and the value our platform continues to deliver across their organisation,” Pro Medicus CEO Sam Hupert said.

The post 3 ASX 200 stocks racing higher in this week’s slumping market appeared first on The Motley Fool Australia.

More reading

• Up 183% since April, why the Megaport share price is tipped to keep charging higher
• ‘Game on!’ Why Megaport shares are rocketing 27% today
• Megaport completes $518m institutional entitlement offer
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Bernd Struben 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 Megaport and Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Civmec Ltd (ASX: CVL) has given investors another reason to chase its already strong share price run.

The engineering and construction group climbed to a new record high of $1.84 during early morning trade after releasing an order book update.

At the time of writing, the Civmec share price is up 5.44%. By comparison, the S&P/ASX All Ords Index (ASX: XAO) is hovering 0.64% lower at 8,860 points.

The move adds to a big 12 months for shareholders, with Civmec shares now up around 75% over the past year.

The stock has also gained 26% in 2026, helped by strong demand across resources, infrastructure, energy, and maintenance work.

Let’s take a closer look at the release.

Order book hits record $1.5 billion

According to the announcement, recent contract wins and extensions have taken Civmec’s order book to a record $1.5 billion.

The work comes from several parts of the business, including resources, infrastructure, energy, and maintenance.

Civmec said the new orders are expected to be delivered across FY27 and FY28.

Iluka and Perth Park contracts in focus

A large part of the update comes from work tied to Iluka Resources Ltd (ASX: ILU) and the Perth Park project.

At Iluka’s Eneabba Rare Earths Refinery in Western Australia, Civmec has secured extra structural, mechanical, piping, electrical, and instrumentation installation work.

The new scope builds on work Civmec was already doing at the site.

It also covers installation across key refinery process areas, with the project expected to support Iluka’s move toward commissioning from CY2027.

Civmec also pointed to the Perth Park project at Burswood Peninsula.

The alliance between Civmec, Seymour Whyte, and Aurecon has now been awarded the major construction contract.

The project runs from planning and design through to construction delivery, with the precinct expected to be substantially complete in late 2027.

Civmec said only its share of the alliance contract has been included in the order book.

Foolish Takeaway

Civmec is not a stock every ASX investor will know well, but the share price run is getting harder to miss.

The company provides construction and engineering services to the energy, resources, infrastructure, marine, and defence sectors.

After its latest rise, Civmec has a market capitalisation of about $937 million. It also trades on a price-to-earnings (P/E) ratio of about 25 times.

That means the stock is no longer trading like an overlooked small cap. But investors will now want to see how much of that order book can turn into profit.

The post This ASX stock just hit a record high. Here’s why investors are buying appeared first on The Motley Fool Australia.

More reading

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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 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.

The Megaport Ltd (ASX: MP1) share price is on fire today.

Shares in the S&P/ASX 200 Index (ASX: XJO) network services company closed on Monday trading for $16.61.

The ASX 200 tech stock then entered a trading halt on Tuesday while Megaport conducted an $827 million capital raising via a fully underwritten entitlement offer.

This morning, the stock recommenced trading on the ASX after announcing that it has successfully completed the institutional component of that capital raising.

Following this news, the Megaport share price is up to $18.13 in late morning trade on Friday. That sees shares up 9.1%, despite the broader 0.6% decline on the ASX 200 today.

It also means that investors who managed to snap up shares at the intraday lows of $6.40 on 13 April are now sitting on gains of 183.3%. That’s enough to turn a $6,000 investment into $16,997. In less than two months!

We’ll look at Citi’s latest forecast for the surging tech stock below.

But first…

What did the ASX 200 tech stock announce?

The Megaport share price is surging after the company said it raised approximately $518 million from its institutional entitlement offer.

The company will issue approximately 36.2 million new shares at $14.30 each. That’s 13.9% below Monday’s closing price, and 21.1% below the current price.

Management said the company will proceed with the retail offer, which will provide retail stockholders the opportunity to invest at the same discounted institutional offer price. The company expects the retail component of the capital raise to bring in $309 million.

The company plans to use the new capital to fund its global growth plans. On Monday, for example, Megaport announced that it had signed four new AI infrastructure contracts valued at $459 million.

“This exceptional outcome reflects the strong support of our institutional shareholders and their confidence in our strategy,” Megaport CEO Michael Reid said.

Looking ahead, Reid added:

By combining Megaport’s global footprint of more than 1,100 data centres in 31 countries with Latitude.sh’s platform capabilities, we are building a Globally Distributed AI Inference Cloud designed to support AI at global scale.

We now look forward to our retail shareholders having the same opportunity to participate on a pro rata basis. We’re just getting started. Game on!

What is Citi forecasting for the Megaport share price now?

Following a series of recent AI contract wins, and with Megaport’s strengthened balance sheet leaving it well-funded to take on more AI-related contracts, Citi upgraded its target for the Megaport share price by 41% to $22.10 (courtesy of The Australian Financial Review).

That represent a further potential upside of almost 22% from current levels.

The broker foresees strong earnings growth for the ASX 200 tech share, boosting its FY 2027 earnings before interest, taxes, depreciation and amortisation (EBITDA) forecast for the company by 73% to around $255 million.

The post Up 183% since April, why the Megaport share price is tipped to keep charging higher appeared first on The Motley Fool Australia.

More reading

• ‘Game on!’ Why Megaport shares are rocketing 27% today
• Megaport completes $518m institutional entitlement offer
• 5 things to watch on the ASX 200 on Friday
• Up 148% since April, should I still buy Megaport shares today?
• How high does Macquarie think Megaport shares will go?

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Bernd Struben 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 Megaport. 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.

G50 Corp Ltd (ASX: G50) has piqued the analyst team at Morgans, which has initiated coverage with a speculative buy recommendation.

Drilling success builds confidence

The company’s flagship asset is the Golconda project in Arizona, where it recently reported that drilling had confirmed “significant mineralisation” over 1.3km and at depths of up to 400m.

Some of the more significant results included 16.8m at 4.34 grams per tonne of gold from 216.4m, and 13.4m at 1.63 grams per tonne of gold and 30.99 grams per tonne of silver from 192.9m.

The company said:

Drilling was highly successful and definitively met the objectives confirming strike, depth and lateral extensions to the known mineralisation at Golconda. Drilling also continued to test the high priority gallium target with all holes reporting significant and consistent shallow intercepts. The continued work on gallium at Golconda supports the company’s strategy for potential future development of a strategic domestic gallium supply, integrated within a primary precious and base metals project.

G50 Managing Director Mark Wallace said the drilling almost doubled the drill-tested strike length at Golconda.

He said:

Identifying significant precious metal intercepts within parallel veins is an exciting discovery for all involved. Golconda is a large-scale, polymetallic gold-silver-zinc project with significant potential. Growing geopolitical and commercial pressures are increasing interest in our Arizona-located project. Based on current mineralogy and metallurgical work, the G50 team is well-positioned to discover and potentially supply the Western world with secure strategic and precious metals.

Shares in this ASX gold developer are looking cheap

The Morgans team agreed that the project could meet the demand for strategic minerals.

The team said in their note to clients:

A US-centric asset portfolio (Golconda and White Caps) provides growing exposure to both precious metals (gold and silver) and critical metals gallium and antimony, both of which are being increasingly recognised as strategic commodities by the US given their importance across semiconductor, AI and defence related supply chains. We view the underlying gold exploration potential at Golconda to be capable of supporting meaningful resource growth over time, while the greater gallium and antimony exposure may provide optionality from both a strategic funding and permitting perspective as the US increasingly prioritises domestic critical mineral supply chains independent of China.

Morgans has a price target of $2.14 on G50 shares, compared to the current price of 79.5 cents.

The shares have traded as low as 11 cents and as high as $1 during the past 12 months.

G50 Corp is valued at $162 million.

The post This US-focused, ASX gold developer could surge more than 150%, Morgans says appeared first on The Motley Fool Australia.

More reading

• Up 183% since April, why the Megaport share price is tipped to keep charging higher
• Up 40%! What is Bell Potter saying about this popular ASX stock?
• 3 amazing ASX growth shares to buy with $15,000
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• 3 compelling reasons to buy Origin Energy shares today

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.

Kogan.com Ltd (ASX: KGN) shares have been strong performers in recent months.

Thanks to a marked improvement in the ASX stock’s performance, investors have bid the ecommerce company’s shares almost 40% higher since the middle of February.

Does this mean it is too late to invest? Let’s see what Bell Potter is saying about the company.

What is the broker saying?

Bell Potter was pleased with Kogan’s recent trading update, highlighting that its performance was tracking ahead of expectations. It said:

Kogan.com (KGN)’s FY26 to-date trading update (Jul-Apr) from a gross sales and adjusted EBITDA perspective was tracking ahead of Consensus/BPe (BPe below Consensus). KGN delivered gross sales growth of 18% for the first 10 months, while Adjusted EBITDA of $38m at an 8.5% margin (% of revenue) remained towards the top end of the margin guidance range of 6-9% for FY26.

The Feb-Apr non-seasonal period appears to have grown at 14% in gross sales at Kogan.com (Aus), which we see as a healthy outcome while cycling 22% comps in the pcp (based on BPe). NZ based Mighty Ape (MA) having completed majority of restructuring initiatives post-optimisation of the platform and inventory continues to expect reaching profitability on a run-rate basis in 2H26.

In response, the broker has boosted its earnings estimates. However, it has only done so conservatively given the importance of the EOFY period. It adds:

We make changes to our gross sales (GS), gross margin and EBITDA assumptions for Kogan.com factoring in the beats and the current run-rate, however with some conservatism for the EOFY seasonal period in May/Jun which cycles +27% GS in the pcp. With group revenue growth to-date tracking in line with BPe +6% for FY26, our revenue estimates remain largely unchanged as we factor in some cautiousness ahead given the current weak consumer spend environment. Our medium-term Adjusted EBITDA margins remain broadly unchanged towards the bottom end of KGN’s target margin range of 8-12%. The net result sees our NPAT forecasts +18%/+6%/+2% for FY26/27/28e.

Should you buy this ASX stock?

According to the note, Bell Potter has retained its hold rating on Kogan’s shares with an improved price target of $4.20 (from $3.80).

This implies only modest upside from its current share price of $4.11.

Commenting on its recommendation, the broker said:

Our PT +11% to $4.20 (prev. $3.80) driven by earnings upgrades and a roll-forward of earnings within our relative valuation (FY27e EBITDA), while our 10x target multiple remains unchanged. While KGN has seen beats in both 1H and 2H to-date, we remain cautious on the FY27 period across our overall Consumer Discretionary coverage to see some downside risk to the current growth rate in optimising for EBITDA margins within KGN’s target range of 8-12% in a challenging and competitive e-commerce landscape. We continue to view EBITDA margins as highly sensitive to the investment into sustaining the GS/customer/subscriber growth. At our revised PT of $4.20 the total expected return is <15% so we maintain our HOLD rating.

The post Up 40%! What is Bell Potter saying about this popular ASX stock? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro 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 Kogan.com. The Motley Fool Australia has recommended Kogan.com. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.