There are a lot of ASX shares out there to choose from.
To narrow things down, let's see what analysts at Ord Minnett are saying about the three popular options named below.
Here's what you need to know:
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ARB Corporation Ltd (ASX: ARB)
Ord Minnett remains positive on this 4×4 auto parts manufacturer despite weak new vehicle sales.
It has a buy rating and $31.00 price target on its shares. The broker is focusing more on the longer-term outlook, which it believes is positive. It said:
New vehicle sales have been impacted by inconsistent supply from manufacturers throughout the March quarter. Elevated fuel prices in March may adversely impact demand for ARB's Australian aftermarket operations. Longer term, the outlook for ARB is positive, with robust demand for its products, a healthy order book, and new vehicles and products being released globally. Earnings growth should be driven by new and refurbished stores, offshore expansion, and strategic partnerships with original equipment manufacturers (OEM). We maintain a Buy rating on ARB.
Aurizon Holdings Ltd (ASX: AZJ)
The broker is less positive on this rail freight operator. It has put a hold rating and $3.50 price target on its shares.
While the broker likes the company, it feels that its shares are fully valued now. Ord Minnett said:
Post the result, we raised our EPS estimates by 2.7%, 3.5% and 0.9% for FY26, FY27 and FY28, respectively. These earnings upgrades led us to increase our target price on Aurizon to $3.50 from $3.10, although we maintained our Hold recommendation on valuation grounds.
Goodman Group (ASX: GMG)
Another ASX share that Ord Minnett has been looking at is Goodman Group.
In response to a major data centre deal with DataBank in the US, the broker retained its hold rating and $29.15 price target on Goodman's shares. It said:
The deal is a win for Goodman, allowing to realise circa $235 million of development earnings before interest tax (EBIT) in the second half of FY26, and introduces DataBank's valuable intellectual property into its data-centre business.
We note Goodman and DataBank are looking at developments in other capacity-constrained (typically because of power supply issues or planning restrictions) markets in the US, with the model based on combining the Australian company's development pipeline and American group's operational capability and customer base. Ord Minnett made no changes to its earnings estimates post the deal, but highlights that Goodman will have to make more of these type of deals to meet market expectations for FY26 earnings. We maintain our target price of $29.15 and a Hold recommendation on Goodman.
