7 ASX shares elevated to 'strong buy' ratings in July

CommSec data shows these stocks now have the strongest possible consensus buy recommendation.

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With one day of trading to go, S&P/ASX All Ordinaries Index (ASX: XAO) shares have had a very strong month.

The ASX All Ords index is up 2.03% since 1 July.

Let's take a look at some of the ASX shares that received broker upgrades this month.

These stocks now have the strongest possible consensus buy recommendation, according to CommSec.

7 ASX shares upgraded to strong buy ratings

Coronado Global Resources Inc (ASX: CRN)

This ASX 200 energy share closed at $1.36 on Tuesday, down 2.17%.

Coronado shares have lost 18.9% in value over the past 12 months.

The ASX coal miner released its Q2 FY24 results this month. Run-of-mine (ROM) coal production rose by 23.8% compared to the previous quarter to 7.4 Mt, while saleable production lifted 21.5% to 4.1 Mt.

Bell Potter has a buy rating on Coronado with a 12-month share price target of $1.85.

Qantas Airways Limited (ASX: QAN)

This ASX 200 travel share closed at $6.18 apiece on Tuesday, up 1.64%.

Qantas shares have fallen 5.4% over the past 12 months.

There was no price-sensitive news from Qantas this month.

Goldman Sachs has a buy rating on Qantas with a 12-month share price target of $8.05.

Healthco Healthcare and Wellness REIT (ASX: HCW)

This ASX real estate investment trust (REIT) closed yesterday at $1.18 per share, up 0.43%.

The HealthCo Healthcare and Wellness REIT's share price has descended 17.8% over the past 12 months.

The ASX REIT had no price-sensitive news for the market this month.

The team at Bell Potter believes the recent share price weakness makes the HCW REIT a good buy.

Bell Potter has a buy rating and a $1.50 price target on HCW REIT shares.

Dusk Group Ltd (ASX: DSK)

This ASX consumer discretionary share closed at 84 cents on Tuesday, up 0.6%.

The Dusk share price is down 31.7% over the past 12 months.

We got a trading update from the specialty candles and home fragrances retailer this month.

Dusk said total sales for 2H FY24 were 5.8% lower than the prior corresponding period (pcp) compared to a fall of 9.7% in 1H FY24. The company expects total sales of $126.3 million for FY24, down 8.2% on FY23.

Management expects underlying EBIT of $6.2 million to $6.4 million (down from $16.5 million in FY23).

Maas Group Holdings Ltd (ASX: MGH)

This ASX All Ords industrials share finished yesterday's session at $4.38, down 1.13%.

Maas Group shares have risen 63.4% over the past 12 months.

There was no price-sensitive news from the construction materials and services provider in July.

Tyro Payments Ltd (ASX: TYR)

This ASX All Ords financials share closed at 94 cents per share, down 0.53% on Tuesday.

Shares in the payments provider are down 32.9% over the past 12 months.

Tyro did not release any price-sensitive news this month. Morgans is bullish on Tyro, with a 12-month share price target of $1.47.

NRW Holdings Limited (ASX: NWH)

The NRW share price closed at $3.29 on Tuesday, down 2.08%.

Shares in the diversified contract services provider increased 19.65% over the past 12 months.

NRW Holdings updated its full-year FY24 guidance this month.

The company expects to achieve its highest-ever earnings before interest, taxes, depreciation, and amortisation (EBITDA) result in FY24.

The unaudited EBITDA is approximately $195 million, which is above the previous guidance of $175 million to $185 million.

Motley Fool contributor Bronwyn Allen has positions in Dusk Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. 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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