As earnings season rolls on, brokers are adjusting their outlooks on numerous ASX shares.
Two that have just received renewed buy ratings are Genesis Minerals Ltd (ASX: GMD) and DigiCo Infrastructure REIT (ASX: DGT).
Genesis Minerals is an Australian gold mining, project development, and exploration company.
Meanwhile, DigiCo is a data center REIT and developer operating across Australia and North America.
These ASX shares have performed very differently over the past 12 months. Genesis has risen over 100%, while DigiCo has fallen by 21% over the same span.
Despite this varying performance, brokers see upside for both ASX shares.
DigiCo a bounceback candidate
The team at Morgans provided updated guidance on this REIT following the release of its full-year results late last week.
The company reported FY26 underlying EBITDA of $127 million, surpassing its $125 million guidance, and declared a 12.0 cent per security distribution, in line with its forecast.
The broker said the reported signed Letters of Intent (LOIs) would take the Australian portfolio to full capacity – a strong demand signal that de-risks management's pathway to $250m of EBITDA.
However the ramp-up in earnings is back-ended, hence FY27 guidance was ~8% below MorgansF and ~13% below Consensus. Liquidity of ~$1.2bn funds the ~$1.2bn capex bill, with management calling out no need for additional equity. We still see clear value, but the cashflows are pushed out – this is now an FY28-into-FY29 story. Target price unchanged at A$3.60; reaffirm BUY.
From yesterday's closing price of $2.48, this price target indicates more than 45% upside.
Genesis Minerals had a "transformative" year
Following the release of FY26 results last week, the team at Bell Potter retained its buy recommendation on these ASX shares.
Genesis doubled EBITDA and paid its maiden dividend in FY26, as profit and cash soared on the back of stronger gold production.
According to Bell Potter, the company delivered FY26 revenue of A$1.74bn and NPAT of A$602m, broadly ahead of expectations, although EBITDA of A$803m was 20% below estimates due to higher costs and lower realised gold prices.
Production was solid, while the company maintained a strong net cash position of A$217m and declared its maiden fully franked dividend of 5.0cps.
FY26 was a transformative year for GMD, acquiring Magnetic and Vault (pending) that will transition GMD to a top 3 gold producer capable of producing 600-700kozpa. We view FY27 as the build year with standalone guidance as a placeholder for the Strategic Plan in 1H2027, where the long-term production and costs figures will be released.
Bell Potter has an updated price target of $9.00 on these ASX shares, which is 5% higher than current levels.
The post 2 ASX shares that could rise up to 45% following earnings results appeared first on The Motley Fool Australia.
Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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