3 new ASX winners and 2 losers from reporting season

One of the challenges of reporting season is it gives you very little room to catch your breath. By the time the ink has dried on one company's results, the market is already looking to see what the next cab off the rank is going to reveal.

It means it can be even harder than normal to keep track of where consensus sentiment has moved, especially given how volatile post-results trading has become. 

Here are some of the broker moves you may have missed this week. 

THE WINNERS 

1 - Netwealth Group (ASX: NWL)

• Broker: Macquarie
• Rating: Outperform 
• Price target: $31.50
• Upside potential: 45%

Investment platform Netwealth has been focused on technological enhancements and cost control, and is now shifting from "revenue-protecting" improvements to "revenue-generating" ones. 

Macquarie agree with the company's outlook for accelerating market share gains and revenue opportunity unlocks, and is targeting upside potential of 45% from current prices, despite a minor downgrade to its price target and EPS projections.  

It says the thesis is "robust EPS growth underpinned by strong fundamentals and broker opportunity tailwinds at an attractive valuation".

2 - Westgold Resources (ASX: WGX)

• Broker: UBS
• Rating: Buy
• Price target: $8.25
• Upside potential: 25.7%

Gold miner Westgold has been teasing potential expansions ahead of its 3-year outlook in September, and UBS says it can now see a pathway to +650kozpa production by FY30, which would make Westgold the 5th largest gold producer on the ASX. 

Capex remains a "key uncertainty" for the broker, but says its FCF remains positive to FY30, despite incorporating $1.8 billion growth capex. It has upgraded its price target from $7.75 to $8.25, and retained its Buy rating. 

3 - WiseTech Global (ASX: WTC) 

• Broker: Morgan Stanley
• Rating: Overweight
• Price target: $70
• Upside potential: 77%

Embattled tech stock WiseTech is never far from the headlines, and despite its FY26 results showing a 79% uptick in revenue, the stock dropped a headline-grabbing 10%. 

According to Morgan Stanley, "what was conspicuous in this WTC result, was a deceleration in revenue growth… and a greater focus on cost-out and efficiencies." 

"In our modelling, we have trimmed our revenue growth rates for the next few years … but we have actually upgraded our FY27-28e EBITDA and EPS forecasts."

It has retained its Buy rating and a price target of $70, even as it says the key question is whether WTC can reaccelerate revenue growth back to 20-30%. 

"These results have de-risked the WTC story...the missing ingredient is a return to high rev growth."

THE LOSERS

1 - Reece (ASX: REH)

• Broker: Macquarie
• Rating: Underperform
• Price target: $15.20
• Downside potential: -9.2%

Revenue was up while profits were down for Australia's leading plumbing supplier in FY26, with specific weakness in the US. 

According to Macquarie, outlook visibility is low and economic conditions in Australia muddy the picture further. It has downgraded REH to underperform, with a price target of $15.20, for 9.2% downside. 

"Valuation is full in the context of the risks to the AU outlook, in particular," it wrote. "The stock trades at a 10% discount to its five-year average, while earnings growth is pressured and market conditions are at risk."

"A solid ANZ pipeline should support 1H27 momentum, although lead indicators are weakening. Reece expects only modest US growth, with residential recovery dependent on improved affordability."

2 - Paladin Energy (ASX: PDN)

• Broker: Ord Minnett
• Rating: Sell 
• Price target: $9 
• Downside potential: -25.5%

Rising uranium prices have been a slight boon for the West Australian uranium producer, with FY26 sales revenue up 71% year-on-year. The miner is up 26% in the last month, leaving it at a higher multiple compared with sector peers. 

The miner is expected to remain cash flow negative until its Patterson Lake South project begins production in FY32, with more equity raises likely required. Ord Minnett is concerned on the funding required there, with development capex flagged at $1.7 billion. 

It has downgraded the stock to Sell, albeit it has lifted its price target from $8.50 to $9 on higher uranium prices, but still well below the current price of $12.08.