If you are on the lookout for some ASX shares to buy, it could pay to hear what Morgans is saying about the three in this article following recent updates.
Here's why it is bullish on these names:
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CAR Group Limited (ASX: CAR)
Morgans thinks this auto listings company's shares are good value. In response to its FY 2026 results, the broker has retained its buy rating with an improved price target of $34.00. This compares to its current share price of $28.54. It said:
CAR's FY26 result was solid overall and broadly in line with expectations. Double-digit constant-currency (c/c) growth in revenue and EBITDA across its offshore regions (US, LatAm, South Korea) was a highlight. Guidance implies double-digit revenue and EBITDA growth (c/c) is maintained into FY27, with investment in key growth regions/AI/product ongoing. We remain positive on CAR's investment thesis. Buy. Price target A$34.00 (previously A$33.40).
Meeka Metals Ltd (ASX: MEK)
This gold miner has caught the eye of Morgans. It was pleased enough with its quarterly update and expects the company to rebound after a tough second half. As a result, the broker has retained its buy rating with a 31 cents price target. This compares to its latest share price of just 11 cents. Morgans said:
We recently attended a site visit to MEK's Murchison Gold Project (MGP) following the release of its 4Q26 result. Whilst the Q4 result rounded out a tougher 2H26, we think MEK is well positioned to rebound in FY27 as Andy Well continues to ramp up in H1, followed by first ore out of Turnberry in Q3. The site visit took us underground at Andy Well, through the adjacent processing plant, and to the concluding open pit operations at Turnberry.
We view the transition to a pure owner-operator underground model as a clear point of differentiation for MEK as it enters FY27. Following an analyst change, we retain a BUY rating with a TP of A$0.31 per share.
SGH Ltd (ASX: SGH)
A third ASX share that has been given a buy rating by Morgans is diversified investment company SGH. The broker has a $50.00 price target on its shares, which compares favourably to its current share price of $41.02.
Commenting on its recommendation, Morgans said:
SGH's share price closed down 10% following the release of forward guidance, which sees EBIT forecast to be flat or increase low single-digits through FY27. While management is firm in their aspiration to compound EBIT/EPS 10% (pa) through the cycle, this is unlikely in FY27 as growth in the 12-months ahead remains more incremental, than transformational, and M&A (c.50% of their growth target) is elusive.
Given we suspected FY27 would be a year of consolidation, we are prepared to look through to the growth in FY28 (FY28 EBITg: 14%) coming from Crux, potential property realisations, and M&A. Buy retained, with a $50/sh price target.
