This week, Morgans highlighted three ASX shares that it believes offer attractive upside.
The companies operate in funds management, uranium production, and wealth management, giving investors several different growth stories to consider.
Here is why the broker has buy ratings on all three.
Image source: Getty Images
Regal Partners Ltd (ASX: RPL)
Regal Partners is an alternative investment manager with exposure to strategies across private markets, credit, resources, and other specialist areas.
The company recently released its preliminary results for the first half of 2026, and Morgans described it as another good result.
Funds under management, performance fees, and net profit all increased during the period. However, the Regal Partners share price has fallen since the update.
Morgans believes the weakness may reflect slightly lower funds under management and management fee revenue than expected. However, the broker views that impact as relatively minor because fund performance is the more important indicator of future inflows and growth.
I think that distinction is important. Strong investment performance can attract new client money and increase performance fees, potentially supporting earnings over time.
The broker also believes the valuation remains relatively undemanding, with the shares trading on around nine times forecast 2027 earnings.
Morgans has retained its buy rating and reduced its price target from $4.20 to $4.00.
With Regal Partners shares trading around $2.68, the new target is approximately 49% above the current price.
Paladin Energy Ltd (ASX: PDN)
Paladin Energy received a positive response from Morgans after delivering a strong fourth quarter from its Langer Heinrich uranium mine.
Production was 6% ahead of both Morgans' forecast and market expectations. Sales also exceeded the broker's estimate by 16% and consensus expectations by 12%, while costs came in better than anticipated.
Paladin also exceeded its FY26 guidance targets for production, sales, and costs.
Morgans noted that the Langer Heinrich ramp-up is now formally complete, with full mining and processing operations achieved during the quarter.
I think reaching that point removes an important source of uncertainty. The investment case can now shift towards how consistently the mine performs and the cash flow it can generate as production settles into a more normal rhythm.
Uranium prices, operating performance, and contract terms will continue influencing results, so investors should still expect volatility.
But for now, Morgans has maintained its buy recommendation while lowering its price target from $13.05 to $12.50.
That target offers potential upside of approximately 37% from the current Paladin Energy share price of around $9.15.
Generation Development Group Ltd (ASX: GDG)
Generation Development Group provides investment bonds and wealth management services, including through Evidentia.
Morgans viewed the company's fourth-quarter update as strong, with record investment bond sales among the highlights.
The broker was also encouraged that Evidentia exceeded expectations following several consecutive periods in which its performance had disappointed.
I think that improvement could help rebuild confidence in the broader growth story. Generation Development Group can benefit as more financial advisers use its services and increasing amounts of client money move onto its platforms.
Following the update, Morgans raised its earnings per share forecasts by between 1% and 5% across its forecast period. The upgrades reflect higher sales and funds under management expectations across both key divisions.
The broker increased its price target from $6.28 to $6.89 and retained its buy rating, pointing to more than 20% potential total shareholder return upside.
Foolish takeaway
I think these three Morgans recommendations offer different reasons for investors to take a closer look.
Regal Partners appears inexpensive if fund performance continues supporting growth, while Paladin Energy has completed an important operational ramp-up. Generation Development Group has delivered stronger sales and an encouraging improvement from Evidentia.
Each company still carries risks, and broker price targets are never guaranteed. Even so, Morgans believes all three ASX shares offer enough growth and valuation upside to justify buy ratings this week.
