This follows US President Donald Trump claiming a peace agreement with Iran could be reached this weekend.

Meanwhile, brokers have indicated new confidence in several ASX 200 shares.

Let's check them out.

Deep Yellow Ltd (ASX: DYL)

The Deep Yellow share price is $1.41, up 3.3% today.

Over the past month, this ASX 200 uranium share has fallen 22%.

Jefferies upgraded Deep Yellow shares to a buy rating on Monday.

The broker has a 12-month price target of $1.90.

This suggests a potential 35% upside ahead.

TPG Telecom Ltd (ASX: TPG)

The TPG share price is $3.70, down 0.1% today.

Over the past month, this ASX 200 telecommunications share has fallen 9%.

JP Morgan upgraded TPG Telecom shares to a hold rating this week.

The broker has a 12-month price target of $3.70.

This implies the stock is fully priced.

Graincorp Ltd (ASX: GNC)

The Graincorp share price is $5.20, up 1.6% today.

Over the past month, this ASX 200 consumer staples share has dropped 15%.

Ord Minnett upgraded Graincorp shares from an accumulate to buy rating this week.

The broker said:

We note that at the first-half FY26 results release on 14 May, there were growing concerns for the FY27 crop due to significant areas of northern NSW and Queensland not having sufficient soil moisture profiles to plant and a weather forecast suggesting a dry winter and the chance of El Nino.

Relieving rains of the past two weeks, however, have washed away these fears.‍ The FY27 crop is likely to be smaller than FY26, but it is now unlikely to be the disaster it was shaping up to be.

In Ord Minnett's view, this makes the 21% retracement in the GrainCorp share price since 14 May seem like a significant overreaction.

The broker has a 12-month price target of $7.25 on Graincorp shares.

This suggests a potential capital gain of almost 40% over the next year.

Vysarn Ltd (ASX: VYS)

The Vysarn share price is 98 cents, down 0.5% today.

Vysarn delivers production services to the resources, utilities, and construction sectors.

Morgans upgraded this ASX materials small-cap share after Vysarn announced an acquisition.

The broker lifted its rating from speculative buy to buy.

It also raised its target price from 90 cents to $1.10.

This implies a potential 12% upside ahead.

Morgans said:

VYS is acquiring NewGround, adding highly accretive (~25% EPS) annuity-style earnings that, alongside greater customer-base diversification in the industrial division, materially increases earnings visibility.

The limited upfront cash component of $8.3m preserves balance sheet flexibility, providing further capacity to continue building out its integrated water-services platform via acquisitions.

Incorporating NewGround from early October, we raise our EPS forecasts in FY27 and FY28 by +19 and +24% respectively.

Reflecting the improvement in earnings quality and reduced volatility, we upgrade VYS from Speculative Buy to Buy.

While the Kariyarra asset management business carries a binary outcome, at the current share price, investors are getting this optionality for free.

The post 4 ASX shares upgraded by brokers this week appeared first on The Motley Fool Australia.

An ASX small-cap share typically has a market capitalisation of between approximately $300 million and $2 billion.

The S&P/ASX Small Ords Index (ASX: XSO) is down 9.8% versus a 2.3% dip in the S&P/ASX All Ords Index (ASX: XAO) year to date.

However, Morgans sees opportunity with these three ASX small-cap shares.

Let's find out why.

Tasmea Ltd (ASX: TEA)

The Tasmea share price is $8.14, down 1.1% today and up 94% in the calendar year to date (YTD).

Tasmea is a skilled services company that provides essential maintenance, engineering, and specialised project services.

The company operates in many industries, including mining, oil and gas, waste and water, power and renewable energy, and defence.

Morgans has a buy rating on this ASX small-cap share in the industrials sector.

In a new note, the broker raised its 12-month share price target substantially from $5.25 to $9.15 following acquisition news.

Morgans said:

TEA has agreed to acquire Victorian specialist electrical contractor Maxim Group for up to $254m (~5.4x FY26F EV/EBIT).

The deal is ~31% EPS accretive, scales TEA's Electrical segment to >$100m EBIT and diversifies earnings away from resources into data centres, infrastructure and Battery Energy Storage Systems (BESS).

TEA will look to leverage its regional expertise as data centres increasingly move out of metropolitan areas.

Maxim's owner-led team is retained and aligned via scrip and a three-year earn-out.

We make meaningful EPS changes of +30-34% in each of FY27 and FY28. BUY maintained.

Vysarn Ltd (ASX: VYS)

The Vysarn share price is 94 cents, up 2.4% today and up 28% YTD.

Vysarn provides production-critical services to the resources, construction, and utilities industries. 

Morgans upgraded this ASX materials small-cap share after Vysarn announced it was buying an irrigations systems company.

The broker lifted its rating from speculative buy to buy, and raised its target price from 90 cents to $1.10.

The broker said:

VYS is acquiring NewGround, adding highly accretive (~25% EPS) annuity-style earnings that, alongside greater customer-base diversification in the industrial division, materially increases earnings visibility.

The limited upfront cash component of $8.3m preserves balance sheet flexibility, providing further capacity to continue building out its integrated water-services platform via acquisitions.

Incorporating NewGround from early October, we raise our EPS forecasts in FY27 and FY28 by +19 and +24% respectively.

Reflecting the improvement in earnings quality and reduced volatility, we upgrade VYS from Speculative Buy to Buy.

While the Kariyarra asset management business carries a binary outcome, at the current share price, investors are getting this optionality for free.

Tourism Holdings Ltd (ASX: THL)

The Tourism Holdings share price is $2.06, up 1.5% today and down 10% YTD.

Tourism Holdings rents and sells holiday campervans in Australia, New Zealand, and the US.

Morgans has a buy rating on this ASX industrials small-cap share with a $2.58 target.

In a new note, the broker said:

Unsurprisingly, given the conflict in the Middle East, THL has revised its FY26 NPAT guidance given weaker than expected RV sales.

The conflict, higher fuel prices and cost of living pressures push out the earnings recovery despite all of THL's internal initiatives to improve the business.

Tourism Holdings is also listed on the New Zealand Stock Exchange at NZ$2.47 per share.

Morgans notes that BGH Capital and the Trouchet shareholders have issued a revised takeover offer of NZ$3.10 for the company.

The post 3 ASX small-cap shares to buy: Morgans appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Megaport Ltd (ASX: MP1)

The Megaport share price is down over 10% to $7.47. Investors have been selling this network as a service provider's shares after it only reaffirmed its guidance for FY 2025. It seems that the market was expecting an upgrade or strong commentary on its FY 2026 outlook. Management advised that it continues to expect FY 2025 revenue of $214 million to $222 million. This represents a 9.6% to 13.7% year-on-year increase. EBITDA is still expected to be between $57 million and $65 million, which is flat to 14% higher year over year. Looking further ahead, management said that "early trends are indicative of a continuation of this revenue growth trajectory into FY26."

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down almost 3% to $2.72. This is despite there being no news out of the lithium miner. However, it is worth noting that Pilbara Minerals' shares have taken a beating this week. This latest decline means that they are now down by 11% since this time last week.

Vysarn Ltd (ASX: VYS)

The Vysarn share price is down 10% to 39 cents. This follows the release of the end-to-end water services provider's annual general meeting update this morning. Vysarn advised that it expects its earnings to fall half on half during the first half of FY 2025. This is due to ongoing conservatism within the Western Australian resources sector as a result of the broader global economic and political environment, and consequential uncertainty in commodity prices. However, it does expect a major improvement in the second half to drive sustained earnings growth in FY 2025.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 9.5% to $125.73. Investors have been selling this logistics solutions provider's shares after it downgraded its guidance for FY 2025. Due to distractions flowing from the recent media attention over ex-CEO Richard White's behaviour and the organisational changes that have subsequently been implemented, the commercial launch of its new Container Transport Optimization has been delayed. As a result, revenue and EBITDA are expected to be $1,200 million to $1,300 million and $600 million to $660 million, respectively, in FY 2025. The midpoint of these guidance ranges represents a downgrade of 5.7% and 7.4%, respectively, from its previous guidance.

The post Why Megaport, Pilbara Minerals, Vysarn, and WiseTech shares are falling today appeared first on The Motley Fool Australia.