S&P/ASX 300 Index (ASX: XKO) shares are trading lower on Tuesday, down 0.9% to 7,010.9 points.
Meantime, brokers have upgraded an ASX 300 mining stock and two tech shares.
Let's check them out.
JPM: Go overweight on this oversold ASX 300 mining share
As reported in The Australian today, JPMorgan has raised its rating on mining share Alumina Limited (ASX: AWC) to overweight with a 12-month share price target of $1.
The Alumina share price is 75 cents on Tuesday, up 0.27%. This means there's a 33% potential upside available on this mining share over the next year if JPMorgan is right.
As reported not so long ago, Alumina shares haven't traded below $1 in a decade. They slipped into cents territory back in September and are down 51% in the year to date.
This ASX 300 mining share is a bit different. The company is a holding structure with one asset — a 40% stake in the world's largest alumina and bauxite producer, Alcoa World Alumina and Chemicals (AWAC).
In August, Alumina revealed a net loss after tax of US$43 million for 1H FY23. This was a big drop from the US$168 million net profit after tax (NPAT) reported for 1H FY22.
The CEO Mike Ferraro discussed several challenges, including troubles with annual permit renewals.
Jarden says buy on 2 ASX 300 tech shares
Our next ASX 300 company receiving a broker upgrade today is Data#3 Limited (ASX: DTL).
Jarden Securities has commenced coverage with a buy rating on the ASX 300 tech share.
The Data#3 share price is $7.90, up 0.57% at the time of writing. It is up 19% in the year to date.
Jarden has a 12-month share price target of $8.93.
This implies a potential 13% upside for ASX investors who buy Data#3 shares on Tuesday.
Jarden has also started coverage on a second ASX 300 tech share, Dicker Data Ltd (ASX: DDR).
The broker has given the stock an overweight rating. A target price was not published.
Dicker Data shares are trading for $11.63 on Tuesday, down 0.09%. They are up 14% in the year to date.
