These 4 ASX shares just got upgraded to a ‘buy’ rating

The anticipated recovery in the real economy, vaccine rollout, and rising interest rates have seen a rapid rotation to cyclical sectors while beating up tech and growth-related ASX shares.

Here are 4 ASX shares that have been upgraded to a buy or equivalent rating on Wednesday. 

The Carsales share price has been far from inspiring this year but likely caught up in the recent tech-driven selloff. Morgan Stanley thinks that new car sales volumes have turned positive in 2021, which should lift the company’s revenue and bottom line. The broker rates the company as ‘overweight’ with a $23.00 share price target. This represents a 25% upside to…