Reporting season is all but over, which means the brokers have had plenty of time to mull over the results and reassess which companies they think are undervalued at current prices.
I've selected three major companies that brokers have put a buy rating on over the past week or so.
Let's see who they like.
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Qantas Ltd (ASX: QAN)
The team at Morgan Stanley liked what they saw from the Qantas result and believes the national carrier can continue to perform.
They have called the pick one of their "highest conviction Australian industrials ideas", with a bullish price target to go along with it.
Why do they like the stock? In their own words:
The FY26 result reinforced our view that QAN can offset near term fuel pressure through pricing and capacity actions, while International earnings potential remains underappreciated. We see improving earnings quality, resilient demand and a clearer path to higher International margins.
Morgan Stanely said the airline was trading below the valuation level of its international peers by about 20%, despite its high returns.
The broker noted that there was some risk that jet fuel prices would remain elevated and fares would fail to offset the increase.
Morgan Stanely has a price target of $12.80 on Qantas shares.
Brambles Ltd (ASX: BXB)
UBS has had a look at information such as Nielsen data on fast-moving consumer goods sales to get a handle on the sort of demand Brambles might be enjoying.
The data is mixed, with US food and beverage sales down less than 1% from June to August, while European volumes were up 5% year on year in July.
In terms of the impact on Brambles' CHEP business, volumes were up 1% in the second half of FY26, "with -2% like-for-like volume more than offset by net new business wins''.
UBS said Brambles is currently trading at a discount to the ASX industrials, not including health and financials.
The broker's price target on Brambles is $24.50.
Pexa Group Ltd (ASX: PXA)
Property sales compliance platform Pexa is likely to be affected by the decline in property transactions resulting from the Federal Government's changes to capital gains tax and negative gearing rules.
Macquarie's recent research report on Pexa indicates that settlement activity in New South Wales and Queensland did indeed fall sharply in August compared with the same month a year ago.
The broker has not changed its price target on Pexa, however, meaning recent share price weakness theoretically means more upside for investors.
Macquarie's price target on Pexa is $13.90. Pexa is currently valued at $1.33 billion.
