S&P/ASX 200 Index (ASX: XJO) shares are 1% higher at 8,797 points on Wednesday.
However, the market has fallen into the red over 12 months, down 0.6%, amid rising oil prices and interest rates.
The Reserve Bank of Australia (RBA) lifted the official cash rate from 4.35% to 4.6% yesterday.
Experts say another rate rise may be required in November to combat persistently high inflation.
Inflation rose from 3.5% over the 12 months to July to 4% last month, according to data released today.
Amid the market weakness, brokers have raised their ratings on several ASX shares this week.
Let's see a sample.
Image source: Getty Images
Capricorn Metals Ltd (ASX: CMM)
The Capricorn Metals share price is $15.22, up 1.9% today.
Over the past month, this ASX 200 gold share has fallen 8%.
Bell Potter upgraded Capricorn Metals shares to a buy rating this week.
The broker raised its 12-month price target from $18.05 to $18.10.
This implies a potential 19% upside ahead.
Evolution Mining Ltd (ASX: EVN)
The Evolution Mining share price is $13.40, up 1% today.
Over the past month, this ASX 200 mining share has fallen 10%.
UBS upgraded Evolution shares to a buy call this week.
The broker increased its 12-month price target from $15.20 to $16.
This suggests a potential 19% gain ahead.
REA Group Ltd (ASX: REA)
The REA share price is $156.16, up 4.9% today.
Over the past month, this ASX 200 communications share has dropped 12%.
Bell Potter upgraded REA to a hold recommendation with a price target of $148.
This suggests a potential 5% downside ahead.
Healius Ltd (ASX: HLS)
The Healius share price is 42 cents, up 1.7% today.
Over the past month, this ASX 200 healthcare share has fallen 2%.
RBC Capital upgraded Healius shares to a hold rating with a 12-month price target of 42 cents.
This implies the stock is fully valued.
Alliance Aviation Services Ltd (ASX: AQZ)
The Alliance Aviation Services share price is 54 cents, up 6.9% today.
Over the past month, this ASX industrials share has fallen 18%.
Morgans upgraded Alliance Aviation Services shares to a buy rating on Monday.
The broker has a 12-month price target of 85 cents.
This indicates potential capital gains of 57% over the next year.
Pinnacle Investment Management Group Ltd (ASX: PNI)
Pinnacle Investment Management shares are $13.30 apiece, down 4.7% today.
Over the past month, this ASX 200 financial share has declined 21%.
UBS upgraded the stock to a buy rating but reduced its price target from $18 to $17.
This suggest a potential 28% upside ahead.
