Does the broker rate them as buys, holds, or sells? Let's find out:

Evolution Mining Ltd (ASX: EVN)

This gold miner delivered a solid quarterly update this week despite battling bad weather and maintenance impacts.

In response, Morgans has upgraded Evolution Mining's shares to an accumulate rating with a $16.10 price target. Commenting on the company, the broker said:

Gold production met expectations despite weather and maintenance impacts, with weaker copper and higher AISC driven by Ernest Henry disruptions. Strong 4Q26 expected to achieve FY26 guidance. Achieves net cash position with an updated capital management policy expected at its FY26 result in August. We upgrade to an ACCUMULATE (from HOLD) following recent weakness across the gold sector which we believe has uncovered value in a high-quality name, despite a strong share price reaction post the result.

Netwealth Group Ltd (ASX: NWL)

Another ASX share that Morgans has been looking at is Netwealth. In response to the investment platform provider's quarterly update, the broker has retained its accumulate rating with a $29.00 price target.

The broker notes that although Netwealth's fund under administration (FUA) fell short of expectations, this was due to market weakness. And with the market rebounding this month, it believes its FUA will have improved in the fourth quarter. It explains:

NWL's 3Q26 net-flows of $3.96bn came in modestly ahead of expectations, however market volatility during the period eroded this solid performance to see 3Q26 FUA ending the quarter flat QoQ at A$125.8bn, (vs. Consensus A$129.8bn). Despite ongoing volatility and uncertainty tied to a US/Middle East conflict and a potential resolution, market momentum has recovered from peak pessimism in the March Quarter, with the ASX All Ordinaries +5.6% month-to-date in April'26, which will have seen FUA growth momentum improve post quarter end.

Looking through this near-term volatility NWL remains on track [to] deliver solid growth FY26F and well placed to capitalise on the long runway of opportunity ahead. We retain our ACCUMULATE rating, with a Price target of $29.00/sh.

Nufarm Ltd (ASX: NUF)

Finally, Morgans was pleased with this agricultural chemicals company's guidance for the first half of FY 2026. It notes that its earnings are slightly ahead of expectations and its balance sheet deleveraging is far better than expected.

As a result, it has reaffirmed its buy rating with a $4.05 price target. It said:

Pleasingly, NUF's 1H26 EBITDA guidance was slightly higher than expected and it has had a strong 1H. Importantly, its leverage guidance is materially better than expected. Initial outlook comments for the 2H26 were positive and a new A$50m cost out program has been announced.

Given the appreciation in active ingredient and fish oil prices, NUF's previous FY26 guidance could prove to be conservative. NUF is our key pick of the ag and chemical sector. The company is materially undervalued and we reiterate our BUY rating with a new price target of A$4.05.

The post Buy, hold, sell: Evolution Mining, Netwealth, and Nufarm shares appeared first on The Motley Fool Australia.

The agricultural chemicals company's shares ended the day 11% higher at $2.47 following the release of a trading update.

But if you thought the gains were over, think again.

That's because Bell Potter is tipping this ASX 200 share to continue to rise over the next 12 months.

What is the broker saying about this ASX 200 share?

Bell Potter was pleased with the company's update and highlights that its earnings guidance and balance sheet deleveraging were ahead of expectations. It said:

NUF has provided a positive trading update with underlying 1H26 uEBITDA expected in a range of $239-244m (vs. BPe of $231m and VA of $240m) and representing +16-19% YoY growth. The performance is driven by improved margins in crop protection, growth in the traditional hybrid seeds platform and a stronger performance in the Omega-3 and biofuel platforms

Net debt at 1H26, which is traditionally the seasonal peak, is expected at ~$1.23Bn, which is down $130m YoY and at 3.6x T12M EBITDA is down materially from the 4.6x T12M EBITDA reported at 1H25. This is an improvement from previous expectations of 1H26 net debt to be similar to 1H25 levels.

In addition, it was pleased to see that momentum was continuing. The broker adds:

Positive trading momentum has continued into April across all regions and the group is targeting an additional $50m in costs savings following a strategy refresh (following the change in CEO). The savings are on top of the run rate $50m in cost outs that were delivered in FY25 and realised over 2H25/1H26.

Nufarm shares tipped to rise

According to the note, the broker has retained its buy rating and $3.60 price target on the company's shares.

Based on where the ASX 200 share is currently trading, this implies potential upside of 46% for investors over the next 12 months.

Explaining its bullish stance and buy recommendation, Bell Potter said:

We are now in or approaching the most material selling windows for NUF and the majority of markets look supportive of reasonable demand levels of crop protection products and the most recent trading update confirms improved margin trends.

In addition, upward movements in active ingredients (glyphosate >30% gains in recent weeks) and omega-3 indicators all look to support a more favourable pricing backdrop for 2H26e. The potential for a faster selling window and restart of omega-3 oil sales have the scope to assist in deleveraging the NUF balance sheet further, which is already slightly ahead of schedule.

The post Why this ASX 200 share could be heading 40%+ higher appeared first on The Motley Fool Australia.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 set to open flat

The Australian share market looks set for a subdued session on Thursday despite a relatively good night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning. In late trade in the United States, the Dow Jones is down 0.25%, the S&P 500 is up 0.6% and the Nasdaq is 1.2% higher.

Buy Evolution Mining shares

Bell Potter thinks investors should be buying Evolution Mining Ltd (ASX: EVN) shares. This morning, the broker has retained its buy rating on the gold miner's shares with a trimmed price target of $16.45. It said: "EVN offers effectively unhedged gold and copper exposure via a portfolio of high quality, long-life assets in Tier 1 jurisdictions, overseen by a high-quality management team. EVN has stated its intention to pass growing free cash flows on to shareholders."

Oil prices mixed

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a subdued session on Thursday after oil prices traded mixed. According to Bloomberg, the WTI crude oil price is up 0.1% to US$91.30 a barrel and the Brent crude oil price is down 0.1% to US$88.12 a barrel. Traders appear to be waiting to see what happens with US-Iran peace talks.

Nufarm shares rated as a buy

Nufarm Ltd (ASX: NUF) shares could continue to rise after surging 11% on Wednesday. That's the view of analysts at Bell Potter, who have put a buy rating and $3.60 price target on the agricultural chemicals company's shares. It said: "NUF has provided a trading update, highlighting +16-19% YoY growth in 1H26 uEBITDA and a deleveraging of the balance sheet slightly ahead of expectations."

Gold price softens

ASX 200 gold shares including Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a soft session on Thursday after the gold price dropped overnight. According to CNBC, the gold futures price is down 0.65% to US$4,817.9 an ounce. Traders continue to wait for news from the US-Iran peace talks before making any major moves.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is up 7% to $14.16. Investors have been buying the gold miner's shares following the release of its quarterly update. The company reported March quarterly gold production of 170,000 ounces and copper production of 11,000 tonnes. This was achieved with an all-in sustaining cost (AISC) of $2,220 per ounce, which underpinned record quarterly net mine cash flows. At Mungari it generated $175 million and at Red Lake it generated $104 million in net mine cash flow. Evolution Mining's CEO, Lawrie Conway, said: "Evolution continues to generate significant cash flows from consistent operational delivery and disciplined capital allocation. We have rapidly deleveraged by more than 31% in just over two years, reaching a net cash position by the end of March."

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is up 8% to $2.17. This morning, the biotechnology company announced the acquisition of an exclusive worldwide license to a patented chimeric antigen receptor (CAR) technology platform for precision-enhanced augmentation of therapeutic mesenchymal lineage stromal cell (MSC) products. Mesoblast advised that it plans to incorporate the engineered CARs to further boost effectiveness of its products, with the goal of enhancing the target specificity and augmenting inherent properties of immunomodulation and tissue regeneration.

Nufarm Ltd (ASX: NUF)

The Nufarm share price is up almost 13% to $2.50. This follows the release of a trading update from the agricultural chemicals company this morning. Nufarm revealed that it expects first-half underlying EBITDA to come in between $239 million and $244 million. At the midpoint, that represents 17% growth on the prior corresponding period. This is being driven by better margins in Crop Protection, growth in Hybrid Seeds, and improved contributions from its omega-3 and bioenergy platforms.

Virgin Australia Holdings Ltd (ASX: VGN)

The Virgin Australia share price is up 8% to $2.54. This has been driven by the release of an update from the airline operator today. Virgin Australia advised that its FY 2026 financial guidance remains unchanged, with underlying EBIT and EBIT margin expected to improve in the second half despite a surge in fuel prices. While higher fuel costs are impacting its business, its hedging has helped offset much of the impact. It said: "For the remainder of 2HFY26, the Group is hedged 92% for Brent crude oil and 71% for refining margins. […]  This is expected to result in an increase of fuel costs for 2HFY26 of approximately $30-40m compared to previous expectations."

The post Why Evolution Mining, Mesoblast, Nufarm, and Virgin Australia shares are storming higher today appeared first on The Motley Fool Australia.

This comes after the agricultural chemicals company delivered a much stronger-than-expected market update.

In early morning trade, Nufarm shares are up a massive 13.96% to $2.53, putting the stock among the ASX's top performers for the session.

Even after today's rally, the shares remain down 35% over 12 months, showing how weak sentiment had become before this rebound started.

Today's rally suggests the market is reassessing earnings expectations and balance sheet risks after a difficult stretch for the business.

Let's take a closer look at the release.

A much stronger first half than the market expected

According to the trading update, Nufarm expects its first-half FY26 underlying EBITDA to come in between $239 million and $244 million.

At the midpoint, that represents 17% growth on the prior corresponding period, which is a significant improvement given the company's weaker recent history.

Management said the stronger result was driven by better margins in Crop Protection, growth in Hybrid Seeds, and improved contributions from its omega-3 and bioenergy platforms.

That mix is likely giving the market more confidence that the recovery is not coming from just one division.

The company also flagged positive trading momentum continuing into April, suggesting the stronger start to the half has carried into the current quarter.

Debt is falling and the strategy refresh adds another lever

Another major support for the share price was the continued reduction in debt.

Nufarm said net debt at 31 March had fallen to approximately $1.23 billion, down $130 million from a year earlier. Leverage also improved to around 3.6 times EBITDA.

Given how much of the past year has been dominated by balance sheet concerns, the update has landed well with investors.

The company also announced the first stage of a strategy refresh, targeting an additional $50 million in gross cost savings.

These savings are expected to come from asset optimisation, manufacturing, product footprint, and SG&A efficiencies, with benefits building progressively through FY27.

Foolish takeaway

The strongest part of today's update is that it improves confidence in both earnings and the balance sheet at the same time.

The first-half upgrade shows trading conditions are improving, while lower debt helps ease one of the market's biggest concerns around the stock.

The extra $50 million cost-out target also gives investors another reason to believe margins can rebuild through FY26 and into FY27.

After a rough year for the shares, attention may now start shifting from downside risks to Nufarm's recovery path.

The post Why Nufarm shares just exploded higher on Wednesday appeared first on The Motley Fool Australia.

Let's find out which stock it is recommending to clients this week.

Which ASX 200 stock?

The stock that Bell Potter thinks is dirt cheap is Nufarm Ltd (ASX: NUF).

It is a leading supplier of off-patent agricultural chemicals, seeds, and seed treatments globally. Bell Potter notes that it has a marketing presence in over 30 countries and sales in over 100 countries.

The broker believes that recent datapoints are favourable ahead of peak sales windows. It said:

Bulk feed grade oil ex-Peru has climbed US$1,000/t in recent weeks. Pricing for Peruvian feed grade oil is now at US$4,400-4,500/t well above the US$2,600/t level from a year ago. Importantly, these moves have occurred prior to the announcement of the Peruvian anchovy catch quote of 1.91mt for the upcoming Northeast season, which is down -36% YoY and to a 3-year low (from 1.91mt to 3.0mt in 2025).

At the very least we would see the rising price indicators for omega-3 oils and weaker supply providing a supportive backdrop for NUF to sell through existing inventory (US$90m) and more likely to drive an improved operating performance.

In addition, crop monitoring reports have been positive, which bodes well for demand for Nufarm's products. It adds:

Europe: The most recent JRC Mars crop monitoring report highlighted that winter crops are restarting vegetative growth under favourable conditions, supported by adequate soil moisture and mild late-winter temperatures in many regions. COCEREAL forecasts point to a +0.2% YoY uplift in acreage, with a rotation towards oilseeds (+3.1% YoY) from grain (-0.5% YoY).

North America: The planting intentions report highlighted a modest YoY decline in CY26 (down -0.7% YoY) with a rotation from wheat and corn to Soybean. Canadian plantings were up modestly (up +0.4% YoY), with a rotation to barley and canola.

Big potential returns

According to the note, the broker has retained its buy rating and $3.60 price target on the ASX 200 stock.

Based on its current share price of $2.23, this implies potential upside of over 60% for investors over the next 12 months.

Commenting on its buy recommendation, Bell Potter said:

We are now beginning to enter the most material selling windows for NUF and the majority of markets look supportive of reasonable demand levels of crop protection products. In addition, upward movements in active ingredients (glyphosate +14% in recent weeks) and omega-3 indicators all look to support a reasonable pricing environment.

The potential for a faster selling window and restart of omega-3 oil sales have the scope to assist the deleveraging of the NUF balance sheet which would likely be a positive share price catalyst.

The post Guess which ASX 200 stock might be dirt cheap and could rise 60%? appeared first on The Motley Fool Australia.

Will the market be able to bounce back on Tuesday? Here are five things to watch:

ASX 200 set to open flat

The Australian share market looks set to open flat on Tuesday despite a decent start to the week in the US. According to the latest SPI futures, the ASX 200 is poised to open the week right where it ended the last one. In late trade on Wall Street, the Dow Jones is up 0.35%, the S&P 500 is up 0.45%, and the Nasdaq is 0.55% higher.

Oil prices rise

It could be a good session for ASX 200 energy shares Karoon Energy Ltd (ASX: KAR) and Santos Ltd (ASX: STO) after oil prices rose again overnight. According to Bloomberg, the WTI crude oil price is up 0.8% to US$112.44 a barrel and the Brent crude oil price is up 0.3% to US$109.35 a barrel. Oil prices pushed higher after Donald Trump reiterated threats to bomb Iranian infrastructure.

Lovisa given hold rating

The Lovisa Holdings Ltd (ASX: LOV) share price is close to fair value according to analysts at Bell Potter. This morning, the broker has retained its hold rating on the fashion jewellery retailer's shares with a heavily reduced price target of $24.00 (from $33.50). It said: "We highly rate LOV's strong gross margin outlook, long term store opportunity upside, further prospects arising from changes in the competitive dynamics in US/UK/South Africa, together with strong execution and leadership. On the flipside, we see elevated risks within the core Australian market with a fast-growing competitor and factor in further declines in comparable store sales for the region."

Gold price edges higher

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Ramelius Resources Ltd (ASX: RMS) could have a positive session on Tuesday after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.1% to US$4,684.1 an ounce. Traders were buying gold as Trump's deadline for Iran neared.

Nufarm named as a buy

The team at Bell Potter has named Nufarm Ltd (ASX: NUF) shares as a buy with a $3.60 price target. This implies potential upside of over 70% for investors. Commenting on the agricultural chemicals company, it said: "We are now beginning to enter the most material selling windows for NUF and the majority of markets look supportive of reasonable demand levels of crop protection products."

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:

DroneShield Ltd (ASX: DRO)

According to a note out of Bell Potter, its analysts have retained their buy rating and $4.80 price target on this counter-drone technology company's shares. Bell Potter has been looking at the counter-drone industry and highlights that the Middle East conflict is accelerating demand for the technology. The broker notes that lessons learned in Ukraine are being repeated, including the realisation that using up to US$4 million missiles to take down US$35,000 drones is unsustainable. In light of this, Bell Potter expects there to be broad adoption of C-UAS technologies alongside advanced hypersonic defence capabilities to improve on this equation. It feels that this bodes well for DroneShield given its strong position in the market and high-quality product portfolio. The DroneShield share price ended the week at $3.93.

Navigator Global Investments Ltd (ASX: NGI)

A note out of Morgans reveals that its analysts have retained their buy rating on this investment company's shares with a reduced price target of $2.98. Morgans I had spoken positively about the company's decision to acquire Georgian. It is a Toronto-based AI-focused growth equity firm. The broker thinks the deal is a strategic fit and will be earnings accretive. In addition, Morgans highlights that a recent selloff of Navigator Global shares appears to be linked to private credit concerns around its key strategic partner Blue Owl. However, Morgans thinks that the company's fundamentals are largely unchanged, creating a buying opportunity for investors. The Navigator share price was fetching $2.05 at Thursday's close.

Nufarm Ltd (ASX: NUF)

Another note out of Bell Potter reveals that its analysts have retained their buy rating and $3.60 price target on this agricultural chemicals company's shares. Bell Potter notes that we are entering the most material selling windows for Nufarm. The good news for Nufarm is that the majority of markets look supportive of reasonable demand levels of crop protection products. In addition, Bell Potter points out that upward movements in active ingredients and omega-3 indicators all look supportive of a reasonable pricing environment. It feels that this leaves Nufarm in a position to deleverage its balance sheet, which could be a positive share price catalyst. The Nufarm share price ended the week at $2.03.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone right now:

Greatland Resources Ltd (ASX: GGP)

According to a note out of Citi, its analysts have upgraded this gold miner's shares to a buy rating with an improved price target of $16.00. The broker made the move following the release of further positive drilling results from Telfer. It highlights that there has been a significant increase in the West Dome open-pit resource, which was better than expected and lifts the mining life beyond consensus estimates. Another positive was a higher than expected grade from its underground resource. Combined with the O'Callaghans deposit, Citi believes the market isn't fully pricing in Greatland Resources' potential. The Greatland Resources share price ended the week at $12.85.

Nufarm Ltd (ASX: NUF)

A note out of Bell Potter reveals that its analysts have retained their buy rating and $3.60 price target on this agricultural chemicals company's shares. The broker highlights that we are entering the most material selling windows for Nufarm. The good news is that the majority of markets look supportive of reasonable demand levels of crop protection products. In addition, Bell Potter points out that upward movements in active ingredients and omega-3 indicators all look to support a reasonable pricing environment. It feels that this leaves Nufarm well-positioned to deleverage its balance sheet, which could be a positive share price catalyst. The Nufarm share price was fetching $2.03 at Thursday's close.

Santos Ltd (ASX: STO)

Analysts at Macquarie have retained their outperform rating on this energy producer's shares with an improved price target of $8.75. According to the note, the broker has boosted its earnings estimates for the energy sector to reflect higher oil and LNG prices. It highlights that the war in the Middle East is very unpredictable and further oil prices rallies are a possibility. Santos' earnings per share estimates have been materially increased through to FY 2028 compared to previous expectations. The Santos share price ended the week at $8.08.

The post Brokers name 3 ASX shares to buy right now appeared first on The Motley Fool Australia.

At the time of writing, the stock is up 2.72% to $1.89. The gain comes despite a continued broader downtrend, with Nufarm shares now down around 20% since the start of 2026.

Let's take a closer look at what was announced.

Strategic deal extended to 2050

According to the release, the company has strengthened its strategic collaboration with BP, expanding an existing agreement focused on biofuels.

The update centres on its Carinata business, which produces a non-food oilseed crop used as a feedstock for sustainable aviation fuel (SAF) and renewable diesel.

Under the revised terms, the marketing and offtake agreement has been extended to 2050, providing longer-term visibility over demand for Carinata oil.

The deal also supports the expansion of supply, backed by established grower networks and partnerships across multiple regions.

In addition, the agreement includes a funding model linked to milestone progress. This is intended to support ongoing investment in seed development, crop performance, and supply chain scaling.

Focus on scaling biofuels platform

Nufarm is positioning Carinata as a key pillar of its longer-term growth strategy, particularly as demand for lower-emissions fuels continues to build.

It noted that sectors such as aviation and heavy transport are increasingly turning to biofuels, given that they are more difficult to electrify.

Since the original agreement in 2022, the program has expanded beyond Argentina into Brazil, Paraguay, and Uruguay. It has also been introduced in Australia through existing grower and distribution networks.

Management highlighted that the crop can be grown on existing farmland as part of crop rotation systems. This allows farmers to generate additional income while contributing to emissions-reduction goals.

The company also highlighted lifecycle emissions benefits, noting that Carinata-based fuel delivers lower greenhouse gas emissions than traditional fossil fuels.

Shares remain under pressure

Despite the long-term nature of the update, the share price has seen only a small move.

From a technical view, Nufarm shares remain under pressure. The stock is trading closer to the lower end of its recent range, with momentum indicators such as the relative strength index (RSI) sitting in the mid-30s, pointing to weak buying interest.

The broader backdrop also remains challenging. Agricultural input companies have faced softer conditions in recent periods, alongside cost pressures and mixed demand across key markets.

Foolish Takeaway

Today's announcement reinforces Nufarm's strategy to build out its biofuels platform through long-term partnerships and scalable supply chains.

The extended agreement with BP provides improved visibility over future demand and supports continued investment in the Carinata business.

However, the limited response suggests investors are still weighing near-term pressures against longer-term opportunities, particularly given the stock's already heavy 2026 decline.

The post A major long-term deal is lifting this ASX stock today appeared first on The Motley Fool Australia.

Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone right now:

Catapult Sports Ltd (ASX: CAT)

According to a note out of Bell Potter, its analysts have retained their buy rating on this sports technology company's shares with a trimmed price target of $4.85. The broker has named Catapult as one of its preferred tech stocks amongst the mid caps. It highlights that the company is exposed to the pro sports technology market which was valued at US$36 billion in 2025 and is forecast to double to US$72 billion by 2030. In addition, the broker doesn't believe that AI is going to disrupt its business. Overall, if tech stocks rally, Bell Potter would expect Catapult to follow suit and be one of the better performers. This is because it believes there is a lack of other good quality tech stocks in the mid cap space. One slight negative is the potential for its shares to be kicked out of the ASX 200 index at the next rebalance. However, it believes this is largely priced in now. The Catapult share price is trading at $3.95 on Friday afternoon.

Life360 Inc (ASX: 360)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $50.00 price target on this family safety technology company's shares. The broker believes that Life360 is well-placed for strong long-term growth. It also highlights that the Life360 platform has defensive qualities and generates proprietary data from its user base of almost 100 million people. In light of this, it feels it would be difficult for AI to disrupt or replace the company's business model. The Life360 share price is fetching $22.01 at the time of writing.

Nufarm Ltd (ASX: NUF)

Another note out of Bell Potter reveals that its analysts have retained their buy rating and $3.60 price target on this agricultural chemicals company's shares. The broker has been looking at industry data and believes it is favourable. As a result, it expects Nufarm's upcoming half-year results to demonstrate a continuation of the margin recovery story that became evident last year in the crop protection business. It is also anticipating a material turnaround in omega-3 earnings based on improved pricing indicators. So, with its shares trading at 6x forward EBITDA, compared to 8x for peers, Bell Potter sees a lot of value on offer here. The Nufarm share price is trading at $2.11 this afternoon.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

That's because if analysts at Bell Potter are on the money with their recommendation, mouth-watering returns could be on offer with this share over the next 12 months.

Which ASX 200 share?

The share that Bell Potter is tipping as a buy is agricultural chemicals company Nufarm Ltd (ASX: NUF).

Bell Potter has been looking at industry data and believe it could be supportive of a recovery in margins. It said:

Recent peer reporting has highlighted continued margin recovery, with trade flows indicating a solid level of inventory rebuild ahead of major selling windows. Key points: Quarterly reporting: Key highlights from reporting season include: (1) average reported selling prices were down -2% YoY and volumes were up +2% YoY; and (2) gross margins (where reported) were up +120bp YoY.

Sector trade flows: Sector trade flows globally have continued to demonstrate reasonable levels of demand, with trade flows ex-China down -1% YoY and imports into major NUF markets up +11% YoY, driven by a +23% YoY uplift in the EU+UK and a +8% YoY uplift in North American import activity.

In addition, the broker highlights that omega-3 pricing indicators have been positive and weather has been favourable, which are good news for the ASX 200 share. It adds:

Pricing indicators for omega-3 oil have remained firm, with Peruvian omega-3 oil up +5% YoY, feed grade oil up +10% YoY and high-grade fishmeal up +35% YoY. These figures are comparable to pricing indicators reported by Austevoll through 1Q26, with high double-digit uplifts relative to the lows seen through 2Q25-4Q25 (i.e. 24-46% gains).

Recent rainfall has improved soil moisture profiles in Australia, EU soil moisture looks stronger in western and southern Europe than eastern Europe and three month outlooks are generally supportive. US drought monitors are better than a year ago with generally normal conditions in most belts forecast.

Big potential returns

According to the note, Bell Potter has retained its buy rating and $3.60 price target on Nufarm's shares.

Based on its current share price of $2.09, this implies potential upside of over 70% for investors over the next 12 months.

Commenting on its buy recommendation, the broker said:

We expect 1H26e to demonstrate a continuation of the margin recovery story that became evident in 2H25 in the crop protection business (and reported by peers), with a material turnaround in Omega-3 earnings (reflected in improved pricing indicators). The foundations for 2H26e selling windows look positive with the potential for prolonged Middle East conflict to elevate crop protection pricing. Demonstrating progress on deleveraging of the balance sheet in FY26e is a key catalyst to NUF bridging the gap to sector multiples (Sector at 8.0x FY26e EBITDA vs. NUF at 6.0x).

The post Looking for big returns? This ASX 200 share could rise 70% appeared first on The Motley Fool Australia.

Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone right now:

Maas Group Holdings Ltd (ASX: MGH)

According to a note out of Morgans, its analysts have upgraded this construction materials, equipment and service provider's shares to a buy rating with a $5.10 price target. This follows news that Maas has agreed to sell its construction materials (CM) division, pivoting the business to focus on digital, AI, and electrification infrastructure. Morgans highlights that the sale and a $100 million investment from Firmus will leave Maas with a $550 million cash balance, which management believes it can reinvest to deliver a 20% return on capital (ROC). Overall, at the current valuation, Morgans believes there is a meaningful margin of safety for investors. The Maas share price is trading at $3.99 on Friday.

NextDC Ltd (ASX: NXT)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $22.30 price target on this data centre operator's shares. The broker highlights that Singtel and KKR have acquired ST Telemedia Global Data Centres for approximately S$13.8 billion ($15.5 billion). It estimates that this represents a 20x EV/EBITDA multiple, which is significantly greater than its 14.8x estimate for NextDC. In light of this, the broker continues to believe that NextDC shares are undervalued at current levels, making now an opportune time for investors to open positions. The NextDC share price is fetching $12.70 at the time of writing.

Nufarm Ltd (ASX: NUF)

Analysts at Bell Potter have retained their buy rating and $3.60 price target on this agricultural chemicals company's shares. According to the note, the broker was pleased with Nufarm's annual general meeting presentation. It highlights that management's comments were positive and point to a strong year. In addition, Bell Potter points out that Nufarm's shares continue to trade at a material discount to global peers despite favourable indicators for omega-3 returns in FY 2026 and demand indicators in the higher margin northern hemisphere crop protection markets looking generally supportive. The Nufarm share price is trading at $2.13 this afternoon.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

However, with the ASX 200 stock trading at $2.26 today, Bell Potter believes the outlook may be improving for investors.

Here's what the broker is saying following Nufarm's recent annual general meeting (AGM) update.

What is the broker saying?

Bell Potter highlights that comments made at Nufarm's AGM point to a strong start to the new year, with management reaffirming guidance and highlighting improving conditions across key markets. The broker said:

NUF'S AGM comments were positive pointing to a strong year. We note two key AGM comments as well as recent movements in indicators:

Reaffirmation of guidance: NUF has made a positive start to the year. Reaffirming all elements of the guidance statement at the time of the FY25 result, which were: (1) Expect strong FY26e underlying EBITDA growth under normal conditions; (2) Crop protection EBITDA continuing to grow, moderating on the +18% YOY growth in FY25; (2) Seed technologies growth in EBITDA from hybrid Seed and targeting a $30m YOY improvement in the emerging platforms; and (4) Expect positive free cashflow in FY26e and net debt/EBITDA of ~2.0x (vs. 2.7x in FY25).

Bell Potter also believes FY26 is shaping up as a year of solid earnings growth, supported by a sharper focus on cash generation and balance sheet repair. It adds:

FY26 a strong year of growth: FY26 promises to be a year of strong growth in profitability. With NUF focused on free cash flow generation and delivering a significant reduction in leverage by year end.

Early indicators look supportive

The broker also highlighted early activity indicators that suggest demand conditions are improving, particularly in the higher-margin northern hemisphere crop protection markets. Bell Potter said:

Early activity indicators: In general, initial acreage reports in the northern hemisphere have been supportive of demand for crop protection products and this is indicative of increased import activity into these markets, where YTD volumes are demonstrating double digit YoY gains. Australian soil moisture profiles are below average as is the three-month outlook. Omega-3 pricing indicators remain at levels broadly consistent with those seen at the FY25 result and demonstrating double digit YoY gains.

Is it time to buy this ASX 200 stock?

According to the note, the broker has retained its buy rating on Nufarm's shares with a price target of $3.60. Based on its current share price of $2.26, this implies potential upside of 59% for investors over the next 12 months.

Commenting on its buy recommendation, Bell Potter said:

Our Buy rating is unchanged. NUF continues to trade at a material discount to global peers (crop inputs ~9.3x FY26e EBITDA and seeds at ~10.0x FY26e EBITDA), despite favourable indicators for omega-3 returns in FY26e and demand indicators in the higher margin northern hemisphere crop protection markets looking generally supportive.

The post Bell Potter says this ASX 200 stock could rise 50%+ appeared first on The Motley Fool Australia.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 to fall

The Australian share market looks set to fall on Thursday following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 35 points or 0.4% lower this morning. In late trade in the United States, the Dow Jones is up 0.4%, but the S&P 500 is down 0.4% and the Nasdaq is down 1.4%.

Oil prices rise

ASX 200 energy shares including Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Thursday after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 3.1% to US$65.15 a barrel and the Brent crude oil price is up 3.2% to US$69.47 a barrel. Traders were buying oil in response to reports that US-Iran talks are collapsing.

Neuren shares on watch

Neuren Pharmaceuticals Ltd (ASX: NEU) shares will be on watch today after the pharmaceuticals company released an announcement after the market close on Wednesday. That announcement reveals that Neuren has received US FDA meeting feedback for NNZ-2591 clinical development in hypoxic ischemic encephalopathy (HIE) and Pitt Hopkins syndrome. It said: "We received useful guidance from FDA for our programs in Pitt Hopkins syndrome and HIE and are incorporating the feedback into our plans, although we were disappointed that in both cases the guidance was received as Written Responses Only and was delayed relative to FDA's goal dates."

Gold price rises

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a decent session on Thursday after the gold price edged higher overnight. According to CNBC, the gold futures price is up 0.35% to US$4,951.7 an ounce. Traders have been buying the precious metal after a significant pullback earlier this week.

Buy Nufarm shares

Nufarm Ltd (ASX: NUF) shares could be undervalued according to analysts at Bell Potter. This morning, the broker has retained its buy rating and $3.60 price target on the agricultural chemicals company's shares. It said: "NUF continues to trade at a material discount to global peers (crop inputs ~9.3x FY26e EBITDA and seeds at ~10.0x FY26e EBITDA), despite favourable indicators for omega-3 returns in FY26e and demand indicators in the higher margin northern hemisphere crop protection markets looking generally supportive."

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

The strong rise capped off a sluggish week for the local bourse, which lifted 0.73% over the five trading days.

ASX shares were depressed earlier in the week after the Reserve Bank confirmed what we all expected — a hold call on interest rates.

Meanwhile, the US Federal Reserve cut rates by 0.25% for the third time in four months to support a slowing economy.

Looking ahead to 2026, brokers are issuing notes on which ASX shares to buy for the new year.

Here are a few examples.

ASX shares to buy for 2026

IGO Ltd (ASX: IGO)

The IGO share price closed at $7.12, up 2% on Friday and up 46.5% in the year to date (YTD).

Macquarie says IGO shares are a buy and the company is its key pick in the lithium segment.

Improving lithium prices prompted Macquarie to upgrade its assumptions for IGO's earnings.

In a note last week, the broker said:

Incorporating updated commodity prices, FX and changes to our Kwinana costs assumptions drives 14-78% earnings uplift to FY26-FY28 while EPS are also increased by 1-6% for FY29 and FY30E.

Nufarm Ltd (ASX: NUF) 

Nufarm is a chemical and seed-technology company with customers all over the world.

The Nufarm share price closed at $2.20, down 0.9% yesterday and down 39% in 2025.

Morgans has a buy rating on this ASX agriculture share.

Following the company's FY25 results, Morgans said:

While NUF's FY25 result was weak, it was slightly above guidance.

Now that there is certainty on Seed Technologies future, industry operating conditions have improved and there is a clear pathway to deleveraging the balance sheet, we upgrade NUF to a Buy recommendation and A$3.20 price target.

Morgans has a 12-month price target of $3.20 on Nufarm shares.

Ramsay Health Care Ltd (ASX: RHC)

The Ramsay Health Care share price closed at $35.48, up 0.31% on Friday and up 4% in the YTD.

Jabin Hallihan from Family Financial Solutions says this ASX financial share is a buy.

On The Bull, Hallihan said strong fundamentals and margin recovery supported long-term growth for the private hospital operator.

Ramsay's shares remain undervalued relative to our fair value estimate of $54, as we expect profitability to improve through higher indexation, digital efficiencies and easing wage pressures.

Capstone Copper Corp CDI (ASX: CSC)

The Capstone Copper share price closed at $14.93, up 3.7% yesterday and up 47% for the year.

Macquarie has a buy rating on the ASX copper share with a 12-month price target of $17.

In a note last week, the broker said Capstone is its preferred copper exposure.

The red metal's price has lifted 38% in the YTD amid increasing demand due to the clean energy transition.

The broker said:

We increase CSC EPS 9%/18% in CY25/26e due to Cu price upgrades, remaining our preference in the Cu space due to its strong organic growth profile and attractive relative value.

The post Wondering which ASX shares to buy for 2026? Experts weigh in appeared first on The Motley Fool Australia.

Morgans has updated its ratings and 12-month price targets on three ASX agriculture shares following their FY25 reports.

Let's take a look.

Nufarm Ltd (ASX: NUF) 

Nufarm is an agricultural chemical and seed-technology company with clients all over the world.

The Nufarm share price is $2.39, down 2.85% today and down 34% in the year to date.

Morgans has a buy rating on Nufarm shares with a 12-month price target of $3.20 following the company's FY25 results.

The broker commented:

While NUF's FY25 result was weak, it was slightly above guidance.

A solid Crop Protection result was overshadowed by a poor Seed Technologies performance. Gearing was far too high at 2.7x, however it was better than feared. Outlook comments were upbeat.

In FY26, material earnings growth and a reduction in leverage ratios is expected. We have upgraded our forecasts. Now that there is certainty on Seed Technologies future, industry operating conditions have improved and there is a clear pathway to deleveraging the balance sheet, we upgrade NUF to a Buy recommendation and A$3.20 price target.

Elders Ltd (ASX: ELD)

Elders supplies all types of farming products, as well as advisory, financial, and real estate services.

The Elders share price is $7.28, up 0.14% on Tuesday and up 1% for 2025.

Recently, the broker retained its buy rating on Elders after the company released its FY25 results.

Morgans says there are many drivers in FY26 that should enable Elders to deliver strong growth.

The broker upgraded its price target on the ASX agriculture share from $8.50 to $8.65.

Morgans commented:

ELD's FY25 result was in line with its guidance. As was well guided too, the 2H25 was weak due to drought.

Outlook comments were optimistic, the 1Q26 is off to a strong start and FY26 should benefit from a positive rainfall outlook, higher selling prices, acquisitions and the transformation projects.

Graincorp Ltd (ASX: GNC)

Graincorp offers grain handling, storage and logistics services, as well as trading and marketing. It also processes oilseeds to produce vegetable oils and other food products.

The Graincorp share price is $8.09, up 0.4% today and up 9.6% in the year to date.

Morgans thinks this ASX agriculture share has been oversold following an 8.4% decline over the past month.

The broker maintained an accumulate rating on Graincorp shares with a new price target of $9.05 following the company's FY25 results.

Morgans said:

While it can be argued that the FY25 P&L result was lower quality due to one-offs, operating cashflow was materially stronger than expected, underpinning GNC's strong core cash position.

This allowed the company to reward shareholders with an attractive final dividend.

In line with the recent outlook commentary from its international peers, GNC said that the margin environment will likely remain subdued in FY26. Consensus estimates were therefore too high.

Importantly, payments to the insurer will no longer occur in big crop years, allowing GNC's strong fixed cost leverage to return when crop production issues around the world ultimately eventuate.

The post 3 ASX agriculture shares just re-rated by experts appeared first on The Motley Fool Australia.

The fast-rising stock in question is agricultural chemical and seed technology company Nufarm Ltd (ASX: NUF).

Nufarm shares closed up 8.02% yesterday, trading for $2.56 apiece. This marked the second day of stellar gains for the ASX 300 stock, with Nufarm shares closing up 10.8% on Wednesday.

That big boost followed on Wednesday morning's release of Nufarm's full-year FY 2025 results. And it now sees Nufarm shares up 24.88% since 7 November's closing bell.

Despite those strong gains, the Nufarm share price remains down 27.68% year to date.

But looking to the year ahead, the analysts at Macquarie Group Ltd (ASX: MQG) expect further gains from the agricultural company.

Here's why.

Macquarie lifts price target for ASX 300 stock

In FY 2025, Nufarm reported underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) of $302.5 million. While that was down 3% from FY 2024, investors were clearly pleased with the result following on a weak first-half (H1 FY 2025) report.

Nufarm's Crop Protection segment performed strongly, with underlying EBITDA up 18% year on year. Earnings from the company's Seed Technologies business, however, plunged 78%. That was driven by losses in Omega-3, impacted by a decline in fish oil prices.

Looking ahead, the ASX 300 stock expects to post earnings growth in FY 2026.

And the team at Macquarie believe that's achievable.

The broker noted:

Positive FY26 outlook for strong EBITDA growth (we forecast 25% EBITDA growth to $377m). This includes ongoing solid growth in Crop Protection driven by + mix and stronger vols. Agchem prices showing some improvement off a low base and same for fish oil prices.

Nufarm's management also said they expect earnings growth to see the company's leverage come down to 2.0 gearing level by end of FY 2026.

Commenting on the Nufarm's debt outlook, Macquarie said:

NUF sees path back to 2.0x gearing range in FY26 (2.7x in FY25) as passed peak capex (<$200m in FY26 or -c$50m vs pcp), less Omega 3 cash drag (not producing new crop in FY26 and selling out of existing inventory) and cost saves targeting $50m benefits. 1H26 net debt to increase seasonally back to 1H25 levels but with lower gearing (we fct 3.9x 1H26e vs 4.5x pcp) and then it's all about delivery in key 2H26 period.

With this in mind, Macquarie maintained its neutral rating on the ASX 300 stock. But the broker did raise its 12-month price target to $2.77, up from the prior $2.55 a share.

That's more than 8% above Thursday's closing price.

The post Up 26% in 2 weeks, here's Macquarie's upgraded price target for this resurgent ASX 300 stock appeared first on The Motley Fool Australia.

Three that went down well with analysts at Morgans are listed below. Here's why the broker has upgraded them:

James Hardie Industries plc (ASX: JHX)

Morgans was pleased with James Hardie's update and particularly its outlook. It notes that the building materials company has provided an outlook that was more positive than expected.

In light of this and its undemanding valuation, the broker has upgraded the ASX 200 share to a buy rating with a $35.50 price target. It said:

Whilst the headline 2QFY26 result was largely released in early Oct-25, the details and outlook were incrementally more positive than previously anticipated. Upgraded guidance reflects a c.6% organic decline (vs pcp), as a challenging environment sees volume declines exceed price increases. However, this is better than feared and may prove to be a bottoming in the cycle as demand stabilises.

JHX is trading on c.17.1x FY26F as the business navigates its acquisition missteps, earnings downgrades and a challenging consumer environment in North America (NA). However, at EPS of c.U$1.04/sh in FY26 we see upside from both earnings and an undemanding PER (ave PER. 20x). It is on this basis we upgrade to a BUY recommendation and $35.50/sh target price.

Nufarm Ltd (ASX: NUF)

Another ASX 200 share that has been given the thumbs up by Morgans is Nufarm. Although its performance in FY 2025 was weak, it was better than feared.

And with management expecting a strong year in FY 2026 and the deleveraging of its balance sheet, the broker thinks now is a good time to invest. It has upgraded its shares to a buy rating with a $3.20 price target. It said:

While NUF's FY25 result was weak, it was slightly above guidance. A solid Crop Protection result was overshadowed by a poor Seed Technologies performance. Gearing was far too high at 2.7x, however it was better than feared Outlook comments were upbeat. In FY26, material earnings growth and a reduction in leverage ratios is expected. We have upgraded our forecasts. Now that there is certainty on Seed Technologies future, industry operating conditions have improved and there is a clear pathway to deleveraging the balance sheet, we upgrade NUF to a Buy recommendation and A$3.20 price target.

TechnologyOne Ltd (ASX: TNE)

Finally, this enterprise software provider's shares were sold off this week despite delivering a result that was largely in line with expectations.

The broker thinks this has created an opportunity for investors and has upgraded the ASX 200 share to an accumulate rating with a $34.50 price target. It said:

TNE's FY25 result was largely in line with our expectations with the group delivering, PBT growth of +19% to $181.5m ahead of its 13-17% guidance range, and in line with consensus. The negative share price reaction appears to have been driven by softer than expected ARR/NRR print, which saw a 2% miss to ARR growth expectations vs consensus, despite this, the group continues to deliver, with ARR of $554.6m (+18% YoY), which along with its NRR growth of 115% continues to see TNE Ontrack to achieve its long-term ARR growth aspirations.

We modestly pare our EPS forecasts by 1-3% in FY26-28F. and move to an ACCUMULATE rating, with our target price $34.50 now reflecting a TSR of +19% following TNE's post result share price movement.

The post Morgans just upgraded these ASX 200 shares appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:

Meeka Metals Ltd (ASX: MEK)

The Meeka Metals share price is up 7% to 23 cents. This follows the release of drilling results from the gold miner's Andy Well Underground Mine. Commenting on the drilling, Meeka's managing director Tim Davidson said: "The high gold grades in this drilling are typical of the Andy Well mineralisation and are likely to extend the mining footprint by 450m to the south, a significant increase to the current mine plan. The high-grade gold remains open down plunge and we see strong potential to further expand the Resource and production plan in this area."

Nufarm Ltd (ASX: NUF)

The Nufarm share price is up 9% to $2.59. This appears to have been driven by the release of a number of bullish broker notes this morning. One of those came from Morgans. In response to its full year results, the broker has upgraded Nufarm's shares to a buy rating with a $3.20 price target. It said: "While NUF's FY25 result was weak, it was slightly above guidance. A solid Crop Protection result was overshadowed by a poor Seed Technologies performance. Gearing was far too high at 2.7x, however it was better than feared Outlook comments were upbeat. In FY26, material earnings growth and a reduction in leverage ratios is expected. We have upgraded our forecasts."

SKS Technologies Group Ltd (ASX: SKS)

The SKS Technologies share price is up 5% to $3.49. This follows the release of an update at the technology solutions provider's annual general meeting. Management revealed that it is forecasting revenue of around $320 million and a profit before tax of $28.8 million. This is being underpinned by "strong demand across all market sectors, with significant and accelerating growth forecasts in the data centre sector."

TechnologyOne Ltd (ASX: TNE)

The TechnologyOne share price is up 6% to $31.06. Investors have been flooding back into the beaten down tech sector today after Nvidia (NASDAQ: NVDA) released a stronger than expected quarterly update. This has eased concerns that there could be an AI bubble that is about to burst. At the time of writing, the S&P/ASX All Technology Index is up by a sizeable 3.3%.

The post Why Meeka, Nufarm, SKS, and TechnologyOne shares are storming higher appeared first on The Motley Fool Australia.