S&P/ASX 200 Index (ASX: XJO) shares are 0.4% higher at 9,099.7 points on Tuesday.
Let's check out some new ratings on three ASX shares.
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Cleanaway Waste Management Ltd (ASX: CWY)
The Cleanaway Waste Management share price is $2.41, up 0.2% today and down 17% over 12 months.
Last week, Cleanaway announced a CFO transition and reaffirmed its FY26 earnings outlook.
Following this, Nathan Lead from Morgans maintained his buy rating on the ASX 200 industrials share.
Lead said:
… CWY informed the market that it expects its underlying EBIT for FY26 to be approximately $470m (around the mid-point of its guidance range). This is a touch better than our previous forecast ($465m) and Visible Alpha consensus ($468m).
We update our FY26 forecast to reflect this update, adding 1% to our FY26F EBIT, which leverages into a c.2% uplift to FY26F EPS.
Cleanaway Waste Management will release its full-year FY26 results on 20 August.
Aurizon Holdings Ltd (ASX: AZJ)
The Aurizon share price is $4.24, up 0.8% today and up 30% over 12 months.
Toby Grimm from Baker Young has a hold rating on Australia's largest rail freight operator.
On The Bull this week, Grimm said:
Total containerised freight for the 10 months to April 30 was up 13.2 per cent compared to the prior corresponding period. Growth was driven by new and existing customers.
The company re-affirmed full year 2026 guidance. Group underlying EBITDA is forecast to range between $1.68 billion and $1.75 billion. Coal and bulk EBITDA are expected to be higher.
The stock was recently trading on an appealing dividend yield.
The shares have risen from $3.26 on July 28, 2025 to trade at $4.355 on July 23, 2026.
Aurizon will release its full-year FY26 results on 17 August.
James Hardie Industries plc (ASX: JHX)
James Hardie shares are $26.66 apiece, up 0.5% today and down 1% over 12 months.
Morgans upgraded James Hardie shares to a hold rating after reviewing the building materials suppliers' latest numbers.
Analyst Liam Schofield said:
JHX has delivered a strong set of results for 1QFY27, beating consensus (and MorgansF) EBITDA forecasts by c.9% at the mid-point and prior guidance by c.10%.
The outperformance was largely attributed to execution and above-market growth, rather than an improving US housing market.
The result sets our baseline expectations higher, whilst we expect the business to follow the traditional earnings seasonality (bigger Jun/Mar quarters).
This result is better than expected. Higher growth in FY27 reduces the heavy lifting required in FY28 to achieve consensus' US$1.45/sh EPS forecast.
