S&P/ASX All Ords Index (ASX: XAO) shares finished higher on Tuesday amid an 0.25% lift in interest rates as the Iran war raged on.
The Reserve Bank of Australia said the board decided to raise rates due to a recent inflation uptick and higher oil prices resulting from the war.
This was the second rate rise of 2026 so far, with the cash rate now 4.1%. The RBA also lifted rates by 0.25% last month.
In a statement, the board said:
While inflation has fallen substantially since its peak in 2022, it picked up materially in the second half of 2025. Information since the February meeting suggests that some of the increase in inflation reflects greater capacity pressures.
In addition, the conflict in the Middle East has resulted in sharply higher fuel prices, which, if sustained, will add to inflation. Short-term measures of inflation expectations have already risen.
As a result, the Board judged that there is a material risk that inflation will remain above target for longer than previously anticipated.
The RBA's inflation target band is 2% to 3%, and the board is aiming to reach 2.5% over time.
While the ASX All Ords index gained value yesterday, several shares tumbled to 52-week lows.
Do they present a buying opportunity? Let's find out.
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ASX All Ords shares trading at 52-week lows
Megaport Ltd (ASX: MP1)
The Megaport share price fell to a 52-week low of $7.26 on Tuesday.
The ASX All Ords tech share is down 26% over 12 months.
This month, Canaccord Genuity retained its buy rating with a 12-month price target of $14.30.
Citi also kept its buy rating on the ASX All Ords tech share; however, it reduced its target from $15.75 to $14.65.
This implies a more than 100% potential upside from yesterday's low.
Pinnacle Investment Management Group Ltd (ASX: PNI)
The Pinnacle Investment Management Group share price fell to a 52-week low of $13.15 yesterday.
Morgans sees the valuation tumble for this investment management company as a buying opportunity.
The broker upgraded the ASX All Ords financial share from accumulate to buy last month after reviewing the company's 1H FY26 results.
Morgans said:
PNI's 1H26 NPAT (~A$67m, -11% on the pcp) came in -4% below consensus, but it was more in line excluding one-offs (e.g. mark-to-market investment impacts).
Overall, we saw the 1H26 result as compositionally stronger than the headline numbers suggested, and positively accompanied with a move-the-dial acquisition.
The broker reduced its 12-month share price target from $26.30 to $23.21.
This suggests a potential 77% upside from the stock's 52-week low on Tuesday.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price fell to a 52-week low of $6.41 yesterday.
The ASX All Ords retail share is down 61% over 12 months.
Last week, Macquarie reiterated its buy rating on Temple & Webster shares with a price target of $13.70.
This implies a potential capital gain of 110% over the next 12 months.
Bell Potter also has a buy rating with a $13 price target on the ASX All Ords retail share.
