6 ASX shares upgraded and downgraded by the experts this week

S&P/ASX 200 Index (ASX: XJO) shares are down 0.4% to 9,115.6 points on Thursday.

Meanwhile, brokers have altered their ratings on several ASX shares this week. 

Let's take a look at those stocks.

Qantas Airways Ltd (ASX: QAN)

The Qantas share price is $9.86, down 1.1% today and up 1% over 12 months.

Over the past month, this ASX travel share has shot 15% higher.

Morgans downgraded Qantas shares to a buy rating this week.

The broker cut its 12-month price target from $10.60 to $9.60.

This implies a potential 3% downside ahead.

Morgans analyst Christopher Creech noted resilient travel demand and higher fares were partly offsetting higher fuel costs.

Creech said:

1H27 fuel costs have increased to ~$3.75bn from $3.6bn at the FY26 result, reflecting elevated oil prices and jet fuel crack spreads.

Despite the higher fuel burden, travel demand remains resilient … as QAN continues to offset cost pressures through higher fares and strong load factors.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is $12.09, down 2.5% today and down 1% over 12 months.

Over the past month, this ASX consumer discretionary share has ripped 18%.

Morgan Stanley downgraded Flight Centre shares to a hold rating yesterday.

The broker cut its 12-month price target from $15 to $13.50.

This suggests a potential 11% upside ahead.

Monadelphous Group Ltd (ASX: MND)

The Monadelphous share price is $34.53, down 1% today and up 29% over 12 months.

Over the past month, this ASX industrials share has risen 12%.

Bell Potter upgraded Monadelphous shares to a buy call on Tuesday.

The broker raised its 12-month price target from $31 to $36.

This indicates a potential 5% upside ahead.

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup share price is $11.24, down 2.3% today and up 34% over 12 months.

Over the past month, this ASX industrials share has fallen 1%.

Canaccord Genuity downgraded Smartgroup shares to a hold rating yesterday.

The broker increased its price target from $10.90 to $11.20.

This implies a potential 1% downside ahead.

Codan Ltd (ASX: CDA)

The Codan share price is $56.86, down 1.8% today and up 71% over 12 months.

Over the past month, this ASX tech share has fallen 16%.

UBS upgraded Codan shares to a buy recommendation on Tuesday.

The broker has a 12-month price target of $70.35.

This indicates possible gains of 25% over the next year. 

FDC Consolidated Holdings Ltd (ASX: FDC)

The FDC share price is $3.70, up 1.8% on Thursday and up 10% over 12 months.

Over the past month, this ASX industrials share has edged 4% lower.

Morgans upgraded the construction and building services contractor to a buy call yesterday.

The broker shaved its 12-month price target from $4.27 to $4.25.

This suggest a potential 14% upside ahead.

The post 6 ASX shares upgraded and downgraded by the experts this week appeared first on The Motley Fool Australia.

Motley Fool contributor Bronwyn Allen 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 recommended Flight Centre Travel 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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