Looking for some new portfolio additions? If you are, it could be worth hearing what Morgans is saying about the three popular ASX shares listed below.
Does the broker rate them as buys, holds, or sells? Let's find out:
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Evolution Mining Ltd (ASX: EVN)
This gold miner delivered a solid quarterly update this week despite battling bad weather and maintenance impacts.
In response, Morgans has upgraded Evolution Mining's shares to an accumulate rating with a $16.10 price target. Commenting on the company, the broker said:
Gold production met expectations despite weather and maintenance impacts, with weaker copper and higher AISC driven by Ernest Henry disruptions. Strong 4Q26 expected to achieve FY26 guidance. Achieves net cash position with an updated capital management policy expected at its FY26 result in August. We upgrade to an ACCUMULATE (from HOLD) following recent weakness across the gold sector which we believe has uncovered value in a high-quality name, despite a strong share price reaction post the result.
Netwealth Group Ltd (ASX: NWL)
Another ASX share that Morgans has been looking at is Netwealth. In response to the investment platform provider's quarterly update, the broker has retained its accumulate rating with a $29.00 price target.
The broker notes that although Netwealth's fund under administration (FUA) fell short of expectations, this was due to market weakness. And with the market rebounding this month, it believes its FUA will have improved in the fourth quarter. It explains:
NWL's 3Q26 net-flows of $3.96bn came in modestly ahead of expectations, however market volatility during the period eroded this solid performance to see 3Q26 FUA ending the quarter flat QoQ at A$125.8bn, (vs. Consensus A$129.8bn). Despite ongoing volatility and uncertainty tied to a US/Middle East conflict and a potential resolution, market momentum has recovered from peak pessimism in the March Quarter, with the ASX All Ordinaries +5.6% month-to-date in April'26, which will have seen FUA growth momentum improve post quarter end.
Looking through this near-term volatility NWL remains on track [to] deliver solid growth FY26F and well placed to capitalise on the long runway of opportunity ahead. We retain our ACCUMULATE rating, with a Price target of $29.00/sh.
Nufarm Ltd (ASX: NUF)
Finally, Morgans was pleased with this agricultural chemicals company's guidance for the first half of FY 2026. It notes that its earnings are slightly ahead of expectations and its balance sheet deleveraging is far better than expected.
As a result, it has reaffirmed its buy rating with a $4.05 price target. It said:
Pleasingly, NUF's 1H26 EBITDA guidance was slightly higher than expected and it has had a strong 1H. Importantly, its leverage guidance is materially better than expected. Initial outlook comments for the 2H26 were positive and a new A$50m cost out program has been announced.
Given the appreciation in active ingredient and fish oil prices, NUF's previous FY26 guidance could prove to be conservative. NUF is our key pick of the ag and chemical sector. The company is materially undervalued and we reiterate our BUY rating with a new price target of A$4.05.
