If you are hunting for some new portfolio additions, then it could pay to hear what Morgans is saying about the three ASX shares in this article.
Does the broker rate them as buys, holds, or sells? Let's dig deeper into things:
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Aeris Resources Ltd (ASX: AIS)
Morgans is feeling positive about this copper miner and has named it as a buy this week with a 70 cents price target.
Although its production was softer than expected during the third quarter, the broker was pleased with its cost performance and cash flow generation. It said:
Copper production missed on lower Tritton grades but this was offset by a solid cost performance and strong cash flow (+72% qoq), materially strengthening the balance sheet and funding flexibility. Tritton is set up for a stronger 4Q26, while Constellation, Golden Plateau and the Peel acquisition underpin a longer-term production and mine life extension story. Maintain BUY rating with an unchanged A$0.70ps Target Price.
ANZ Group Holdings Ltd (ASX: ANZ)
This banking giant delivered a decent half-year result according to Morgans. However, it isn't enough for a positive rating. Instead, the broker has upgraded ANZ's shares to a trim rating (between sell and hold) with an improved price target of $31.85. It said:
1H26 revenues were flat on an underlying basis, but cost decline and credit impairment charges were better than expected. Target price increased 4% to $31.85/sh, given 3-6% earnings upgrades and decision to recommence neutralising the DRP. Upgraded from SELL to TRIM, given potential TSR at current prices of c.-6%.
Bega Cheese Ltd (ASX: BGA)
Morgans was pleased to see this diversified food company retain its guidance for FY 2026 despite cost pressures from the Middle East conflict.
In addition, it highlights that management has lifted its medium-term earnings target and provided a five-year plan.
As a result, it has retained its accumulate rating with a $6.50 price target. The broker said:
We attended BGA's Investor Day. Despite the cost pressures associated with the conflict in the Middle East, BGA reiterated its FY26 EBITDA guidance. It also upgraded its FY28 EBITDA target and provided an FY31 EBITDA target for its next 5-year strategy. BGA's targets underpin solid earnings growth profile across the forecast period, whilst maintaining a strong balance sheet.
Our FY26 forecasts remain unchanged, while in FY27 and FY28, we have reduced NPAT for higher D&A associated with BGA's capital growth projects. We maintain an Accumulate rating with a new price target of A$6.50. BGA remains well placed given its portfolio of iconic household brands, its focus on developing higher margin products with functional health benefits, its expansion into growth channels both domestically and overseas and network optimisation plans.
