S&P/ASX 300 (ASX: XKO) shares are down 0.016% on Tuesday as earnings season continues.
Meantime, brokers are rethinking their recommendations and 12-month price targets after analysing company results.
Here are 3 ASX 300 shares that have received upgrades from broker Bell Potter following their recent earnings reports.
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Bell Potter upgrades 3 ASX 300 shares following results
Seven Group Holdings Ltd (ASX: SVW)
Bell Potter has maintained its buy rating on Seven shares but increased its 12-month price target to $46.
The ASX 300 industrial share is currently trading for $39.95, down 1.53% on Tuesday.
Seven Group reported a 10% lift in revenue to $10.6 billion and a 14% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) of $1.9 billion.
Net profit came in at $850 million, a 30% increase. This surpassed the broker's forecast of $822 million and partly contributed to its decision to raise the price target for this ASX 300 share.
The broker said:
As well as this, SVW's business and investments are market leaders in their respective industries, with scale, brand and industry expertise underpinning commercial advantages that are hard to replicate by competitors. Bell Potter remains positive on the near-term outlooks for mining production, engineering construction and transitional energy markets, hence the buy rating is maintained.
Life360 Inc (ASX: 360)
Bell Potter has maintained its buy rating on Life360 shares but has upped its 12-month price target from $19 to $20.50.
The ASX 300 technology share is currently trading for $19.15, down 1.64% on Tuesday.
In its second-quarter update, the location-tracking software company reported a 20% bump in revenue at US$84.9 million. Annualised monthly revenue lifted 23% to US$304.8 million.
Life360 also reported positive adjusted EBITDA of US$11 million and a net loss of US$11 million.
Bell Potter noted that Life360 beat market expectations on revenue and total paying circles. It also said Life360 had upgraded its guidance for both revenue and EBITDA for the full year.
Temple & Webster (ASX: TPW)
Bell Potter has maintained a hold rating on Temple & Webster shares but has raised its price target from $11.40 to $12.20.
The ASX 300 consumer retail share is currently trading for $11.47, up 0.26% on Tuesday.
Temple & Webster reported record revenue of $498 million, up 26%. However, EBITDA fell 43% to $8.4 million, and net profit after tax (NPAT) was down 78% to $1.8 million.
The online furniture retailer said active customer numbers lifted 31% over the year to a record 1.1 million.
The broker said it upped the 12-month share price target because of near-term earnings upgrades factored in from Temple & Webster's 26% revenue growth rate so far in FY25.
The broker added:
The hold rating is maintained as at the price target of $12.20 the total expected return for investors is below 15%.
