It's been a turbulent week for ASX shares. The S&P/ASX 200 Index (ASX: XJO) shed more than 2% across Tuesday and Wednesday, before rebounding on Thursday.
Interestingly, data shows September is often a volatile month for ASX shares as investors react to earnings results.
However, broker Morgans increased its price target on two.
Lets see what the broker had to say.
COG Financial Services Ltd (ASX: COG)
COG Financial Services Ltd (ASX: COG) is Australia's leading finance broker aggregator and equipment leasing company for small to medium-sized businesses.
The company has two segments, its Finance Broker & Aggregation business and its Lending business.
It avoided Wednesday's market slump, racing 7% higher followed by a gain of more than 5% on Thursday.
These were two more days in the green for a company that has seen its share price rocket 100% in the last year.
Morgans believes this is set to continue.
The broker increased its price target to $2.14 (previously A$1.98) on earnings changes.
It was optimistic on the acquisition of salary packaging and novated leasing (NL) business, EasiFleet by COG Financial Services.
This appears a solid deal in our view. We see EasiFleet as a good strategic fit for COG (giving its NL operations greater scale and geographic presence), whilst the financial metrics also appear attractive (high-single-digit accretion, below peer trading multiple paid).
On the back of the deal, Morgans increased FY26F/FY27F EPS by +7-9% respectively reflecting the incorporation of the EasiFleet acquisition into its projections.
The upgraded price target indicates a potential rise of 7%.
Regis Resources Ltd (ASX: RRL)
Regis Resources Ltd (ASX: RRL) is a gold production and exploration company based in Western Australia.
Like many gold stocks, it has enjoyed a strong year.
At the time of writing, it is up 173.86% in the past 12 months.
Morgans believes the growth isn't finished yet for this ASX share.
The broker has updated its valuation for Regis Resources following an updated gold price deck.
Following the material increase in spot gold prices we have updated our spot price scenario assumption to US$3,250/oz (previously US$3,000/oz).
Its new target price of $5.80ps (previously A$5.00) suggests this ASX share could rise 20.33%.
