ASX shares continue to show strength as the end of 2024 draws near, with the S&P/ASX 200 index (ASX: XJO) now up more than 8.5% for the year.
But not all growth is created equally. Nor are expert views on all stocks.
Brokers have changed their ratings on several companies this week, with NIB Holdings Ltd (ASX: NHF), Woolworths Group Ltd (ASX: WOW), and Hansen Technologies Ltd (ASX: HSN) all experiencing updates.
Here's what you need to know about each of these companies' latest outlooks and what these changes might mean for investors.
ASX shares rates as buys
ASX shares have done well this year, but tech stocks have done even better. Hansen, on the other hand, has been heavily sold for most of the year.
However, shares in the software services provider have surged from $4.30 in mid-September to $5.45 apiece before the open on Wednesday, lifting 10% in the past month alone.
RBC Capital Markets raised its rating on the ASX share to a buy and assigned a $6 price target, according to The Australian.
The company joins the consensus of broker estimates in rating Hansen a buy, according to CommSec.
Goldman Sachs also has a bullish view of Hansen.
The broker points to Hansen's high margins, stable earnings, and its strong position in essential industries like energy, water, and telecommunications as key strengths.
It sees the ASX share's defensive characteristics and strong growth outlook as justification for its confidence in the stock.
Not all sunshine and rainbows
On the flip side, health insurer NIB has been under sustained pressure this year, with its share price dropping roughly 20%.
As a result, brokers have delivered mixed ratings on the ASX share, reflecting a range of expectations.
Jefferies downgraded NIB to a hold this week and set a target price of $6.60.
Meanwhile, Macquarie offered a more bearish outlook, moving NIB to an underperform rating and setting a price target of $5.45, analogous to a 'sell' rating.
Despite these downgrades, consensus still rates the stock a buy, per CommSec data.
Goldman Sachs, again, is on the bullish side of the fence. It remains positive on the stock, maintaining its buy rating with a target of $6.75.
Meanwhile, who could glance over the recent downsides in Woolworths shares? Investors have booked a 20% loss this year to date, with shares sliding 10% this past month alone.
The ASX share's recent challenges, including a $1.5 billion writedown of its New Zealand business and a half-year net loss of $781 million, have weighed heavily on investor sentiment.
Furthermore, competition with Coles Group Ltd (ASX: COL) has intensified, adding pressure on Woolworths' market position.
Bell Potter initiated coverage on Woolworths this week with a hold rating and a target price of $31.75.
Shares in the supermarket finished the session on Tuesday at $29.57 apiece, within a small margin of Bell Potter's valuation, justifying the neutral view.
The broker joins the consensus view on Woolworths, which, according to CommSec, rates it a hold.
Foolish outlook
These broker adjustments may give investors value in understanding what the expert views are.
With Christmas just around the corner, it is paramount to think of the year ahead, including investment positioning.
Woolworths is down 17% in the last year, whereas NIB and Hansen are down 21% and up 6% respectively.
