8 ASX shares upgraded by the professionals post-results this week

S&P/ASX All Ords Index (ASX: XAO) shares are up 0.01% to 9,199.6 points on Friday.

With earnings season over, brokers have been updating their ratings and 12-month price targets on hundreds of companies.

The following ASX shares are among those that received upgrades based on their latest financial results.

Telstra Group Ltd (ASX: TLS)

The Telstra share price is $4.80, up 0.8% today.

Over the past month, this ASX telco share has fallen 6%.

Citi upgraded Telstra shares to a buy recommendation with a 12-month price target of $5.25.

This implies a potential 9% upside ahead.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price is $11.62, up 3.2% today.

Over the past month, this ASX uranium share has ripped 21%.

Macquarie upgraded Paladin Energy shares to a buy rating on Wednesday.

The broker raised its 12-month price target from $12.95 to $13.85.

This implies a potential 19% upside ahead.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is $8.62, up 0.7% today.

Over the past month, this ASX financial share has fallen 14%.

JP Morgan upgraded Magellan shares to a hold rating this week.

The broker lifted its 12-month price target from $9 to $9.80.

This suggest a potential 13% upside ahead.

Centuria Capital Group (ASX: CNI)

The Centuria Capital Group share price is $1.26, up 1.6% today.

Over the past month, this ASX real estate investment trust (REIT) has slumped 16%.

MA Financial Group upgraded Centuria Capital Group shares to a buy call on Wednesday.

The broker lowered its 12-month price target from $2.18 to $1.83.

This indicates capital gains of 45% over the next year. 

IGO Ltd (ASX: IGO)

The IGO share price is $8.08, down 4% today.

Over the past month, this ASX lithium share has jumped 14%.

Goldman Sachs upgraded IGO shares to a buy rating yesterday.

The broker lifted its 12-month price target from $8.10 to $9.50.

This suggests potential capital growth of 17% over the next year. 

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup Corporation share price is $11.55, up 0.2% today.

Over the past month, this ASX industrials share has declined 13%.

Morgan Stanley upgraded Smartgroup shares to a buy rating yesterday.

The broker raised its 12-month price target from $11 to $13.

This implies a potential 13% upside ahead.

Centuria Industrial REIT (ASX: CIP)

The Centuria Industrial REIT share price is $2.94, down 0.5% today.

Over the past month, this ASX REIT has fallen 3%.

Morgans upgraded Centuria Industrial REIT shares to a buy call with a $3.25 target.

This suggest a potential 11% upside ahead.

South32 Ltd (ASX: S32)

The South32 share price is $5.22, up 0.1% today.

Over the past month, this ASX mining share has leapt 11%.

RBC Capital upgraded South32 shares to a buy recommendation this week.

The broker increased its 12-month price target from $5.30 to $5.50.

This implies a potential 5% upside ahead.

The post 8 ASX shares upgraded by the professionals post-results this week appeared first on The Motley Fool Australia.

Citigroup is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen has positions in Magellan Financial Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, JPMorgan Chase, Jefferies Financial Group, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Ma Financial Group, Macquarie Group, and Smartgroup. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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