S&P/ASX 200 Index (ASX: XJO) shares are in the red on Thursday, down 0.09% to 8,714.9 points.
As the new financial year begins, brokers have signalled new confidence in several ASX shares.
Here are six stocks that have just been upgraded, and their 12-month share price targets.
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Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is $9.88, down 0.6% today and up 25% over 12 months.
RBC Capital upgraded the ASX energy share to a buy rating on Tuesday.
The broker lifted its 12-month price target from $11 to $13.50.
This implies a potential 37% upside ahead.
Graincorp Ltd (ASX: GNC)
The Graincorp share price is $4.83, down 0.6% today, and down 36% over 12 months.
Bell Potter upgraded the ASX 200 consumer staples share to a buy rating on Wednesday.
The broker increased its price target from $5.20 to $5.90.
This implies potential capital growth of 22% over the next year.
Karoon Energy Ltd (ASX: KAR)
The Karoon Energy share price is $1.36, down 4.6% today and down 30% over 12 months.
Morgans upgraded the ASX energy share to a buy rating on Tuesday.
The broker trimmed its 12-month price target from $1.90 to $1.77.
This implies a potential 30% upside ahead.
The broker said:
The last 30 days have been the toughest part of the rollercoaster, with KAR's share price -36% on an initial Middle East peace agreement and guidance downgrade.
The start to 2026 was always going to be a tough period for KAR: a) heavy H1 investment spend, b) key Bauna well restart (SPS-92) and c) conflict uncertainty.
Now at the end of H1, the first two of those three factors have been resolved, with KAR moving back into positive FCF generation with most of its 2026 capex now sunk.
KAR also announced the next phase of its on-market buyback starting in July 2026.
Stockland Corporation Ltd (ASX: SGP)
The Stockland share price is $4.04, down 0.5% today and down 28% over 12 months.
Citi upgraded the ASX 200 real estate share to a buy rating on Tuesday.
The broker bumped up its 12-month target from $4.30 to $5.10.
This suggests a potential 26% upside ahead.
DigiCo Infrastructure REIT (ASX: DGT)
The DigiCo share price is $2.50, down 2% today and down 23% over 12 months.
Jefferies upgraded the ASX real estate investment trust (REIT) to a buy rating with an improved $3 target.
This implies a potential 20% upside ahead.
Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is $1.18, up 1.7% today and down 74% over 12 months.
RBC Capital upgraded this ASX uranium share to a hold rating on Tuesday.
The broker raised its 12-month price target from $1.10 to $1.30.
This suggest a potential 10% upside ahead.
