# Three ASX shares have just been given fresh buy recommendations from the team at Morgans.

*business · news · 2026-05-12 · The Motley Fool Australia*

## Key points

- HMC Capital is shifting to a more focused business model emphasizing FUM growth in key verticals.
- HMC Capital's HCW distributions are expected to recommence around FY27, supporting earnings forecasts.
- Magellan will transfer management of $5.3bn global equities funds to Vinva, reducing revenue by A$29m year one.
- Orica's 1H26 results beat expectations across all business units, enabling an increased dividend payout.

**Companies:** HMC Capital, Magellan Financial Group, Orica
**Countries:** Australia

[Read the full story on The Motley Fool Australia](https://www.fool.com.au/2026/05/13/three-asx-shares-with-fresh-buy-recommendations-to-target-this-week/)

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