With most brokers taking a break over the holiday period, there haven't been many notes hitting the wires.
But never fear! Summarised below are three recent recommendations that remain very relevant today. Here's what brokers are saying about these ASX shares:
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Gentrack Group Ltd (ASX: GTK)
According to a note out of Bell Potter, its analysts retained their buy rating on this specialist software provider's shares with an improved price target of $13.90. This followed the release of a full year result for FY 2024 that was ahead of guidance, consensus estimates, and Bell Potter's own expectations. Looking ahead, the broker is positive on Gentrack's ability to maintain its customer win momentum in both the rest of the world and core markets. Bell Potter expects this to be supported by rapidly shifting energy consumption and production trends, which are driving increased complexity that legacy platforms can't handle. It notes that this will support higher NRR revenues, which will flow onto ARR. The Gentrack share price was trading at $11.16 on Friday.
Pinnacle Investment Management Group Ltd (ASX: PNI)
A note out of Morgans revealed that its analysts retained their add rating on this investment management company's shares with an improved price target of $27.25. This followed news that the company raised $400 million through an equity placement to support investments in two new offshore affiliate stakes. Morgans believes that Pinnacle's offshore presence has hit a critical mass, which provides validation the group can export the model and achieve success in offshore markets. And while it acknowledges that the company's shares appear somewhat expensive on near-term valuation multiples, it feels this is justified because of the strong expected growth that will be delivered over the medium term. The Pinnacle share price was fetching $24.06 at Friday's close.
Web Travel Group Ltd (ASX: WEB)
Analysts at Shaw and Partners retained their buy rating on this business to business travel technology company's shares with an improved price target of $6.60. This followed the release of the company's first half year results since the spinoff of its online travel booking business. According to the note, the broker was pleased with management's commentary on its outlook and particularly the reiteration of its medium term total transaction value target of $10 billion. It also highlights that another positive was the company's decision to return funds to shareholders via a $150 million share buyback. Overall, Shaw and Partners has lifted its earnings estimates and valuation accordingly, which it believes leaves its shares trading at an attractive level for investors. The Web Travel share price ended the week at $4.47.
