It was a depressing return to red territory for the S&P/ASX 200 Index (ASX: XJO) and many ASX shares this Tuesday.

After kicking off the trading week on a positive note yesterday, investors couldn’t keep up the momentum, with the index opening in the red this morning and staying that way all session. By the time the markets closed up shop, the ASX 200 had lost 0.39% and finished up at 8,657.8 points.

The US markets were closed for the Memorial Day public holiday last night, so the small gains we saw ‘Stateside last Friday are still holding.

So, without further ado, it’s now time to take stock of how the various ASX sectors fared amid today’s frosty trading conditions.

Winners and losers

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Aussie Broadband. The Motley Fool Australia has recommended Aussie Broadband. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Artificial intelligence (AI) has created a strange moment for the technology sector.

On one hand, it could unlock enormous productivity gains and new revenue opportunities. On the other, it has raised serious questions about which software businesses are genuinely durable.

If AI can complete more work with fewer human users, then traditional seat-based software models may face pressure.

That is one reason investors have become more selective with technology shares.

But not every ASX tech share is equally exposed. Some companies provide mission-critical systems, operate in specialist markets, or have the data and workflows needed to make AI an advantage rather than a threat.

Two names that stand out are listed below.

Pro Medicus Ltd (ASX: PME)

Pro Medicus is one ASX tech share that looks well placed in an AI-driven world.

The company provides medical imaging software through its Visage platform. Its customers include large hospitals, radiology groups, and healthcare networks, particularly in the United States.

This is not software that sits on the edge of a business. It is used in critical clinical workflows where speed, reliability, and image quality matter. Medical teams need to view, manage, and interpret large volumes of imaging data efficiently.

That gives Pro Medicus a strong position. Healthcare systems are producing more imaging data, not less. AI may help with parts of diagnosis, workflow prioritisation, and productivity, but that still increases the need for powerful platforms that can handle the data and integrate into hospital systems.

In other words, AI could make the imaging ecosystem more demanding, not simpler.

Pro Medicus also benefits from long contracts and high switching costs. Once a major healthcare network adopts its platform, moving away is not a quick or low-risk decision.

The share price often trades on high expectations, so volatility is always possible. But as healthcare becomes more digital and data-intensive, Pro Medicus looks like the type of software business that could become more important over time.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne is another ASX tech share that could be better positioned than many in the AI shakeout.

The company provides enterprise software to customers such as councils, universities, government agencies, and large organisations. These customers use its systems to manage core functions across finance, payroll, assets, students, property, and other essential workflows.

Essentially, this means TechnologyOne is not selling a lightweight productivity tool that can be easily swapped out. Its software is deeply embedded in complex organisations where reliability, compliance, and accountability matter.

The company also appears to be leaning into AI rather than waiting to be disrupted by it. Its SaaS+ model is designed to take more responsibility for customer outcomes, while its AI products aim to simplify processes and make enterprise data more useful.

That could be important as organisations look for technology partners that can help them do more with less.

The risk for software companies is that AI turns some products into commodities. TechnologyOne’s defence is its sector focus, long customer relationships, and ownership of critical workflows.

Its shares are rarely cheap, and expectations are high. But if AI becomes a tool that strengthens essential enterprise platforms, TechnologyOne could remain one of the ASX’s more resilient technology names.

The post 2 ASX tech shares that could survive the AI shakeout appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Pro Medicus and Technology One. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Technology One. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

PEXA Group Ltd (ASX: PXA) shares are having a tough time on Tuesday.

In afternoon trade, the ASX 200 tech share is down 6% to $10.76.

While this is disappointing for shareholders, it could have created a buying opportunity for the rest of us.

That’s the view of analysts at Ord Minnett, which see significant value in the property settlement technology company’s shares.

What is the broker saying about this ASX 200 tech share?

Ord Minnett has been pleased with the company’s performance in FY 2026, highlighting that a recent trading update revealed ongoing momentum in Australian property transaction volumes. It said:

Pexa Group reiterated its FY26 guidance in a strong March-quarter trading update that highlighted ongoing momentum in Australian property transaction volumes. Domestic volumes are tracking well ahead of internal expectations, with total transactions up 7.3% year on year (YoY). This compares with prior assumptions for a modest decline in second-half volumes, and marks a robust start to the second half of FY26. ‍

The strength was evident across key transaction categories, including transfers, refinances and other transactions, all recording solid year-on-year growth. National market penetration remained stable at around 90%, consistent with recent periods. Operationally, the Australian business continues to perform well, supporting confidence around earnings delivery in the near term.

However, the broker does concede that there are emerging risks that investors need to be aware of. It adds:

That said, there are emerging risks to fourth-quarter activity, including consecutive interest rate increases, softer auction clearance rates and the potential for tax reform affecting investment properties.

Big potential returns

According to the note, the broker has a buy rating and $20.00 price target on its shares.

Based on its current share price, this implies potential upside of approximately 85% for investors over the next 12 months.

Commenting on its buy recommendation, Ord Minnett said:

The UK business showed mixed trends, although currency movements provided a short-term tailwind by reducing losses in the segment. Remortgage instruction volumes were strong as borrowers moved to lock in fixed rates ahead of anticipated interest rate rises, although some market share softness was evident. Importantly, many of these instructions are expected to convert to completions in the first quarter of FY27, providing some forward earnings support.

Despite these positives, the review of integrated property accounting service prices by the NSW Independent Pricing and Regulatory Tribunal (IPART) remains a key near-term overhang for investors, with a final report not due until September. Resolution of the pricing review is likely to be the catalyst required to unlock investor confidence in Pexa’s prospects and valuation upside. We maintain our Buy recommendation and target price of $20.00.

The post Ord Minnett says this ASX 200 tech share could rise 85% appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PEXA Group. The Motley Fool Australia has positions in and has recommended PEXA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Boab Metals Ltd (ASX: BML) today announced it had entered into a contract with GR Engineering Services Ltd (ASX: GNG) for the engineering, procurement and construction at its Sorby Hills silver-lead project in the Kimberley region of Western Australia.

Working towards production

It’s the latest in a long line of milestones the ASX mining company has been ticking off at the project, where it expects to start commercial concentrate production in the second half of 2027.

Boab signed a deal with Sandfire Resources Ltd (ASX: SFR) back in April 2025 to buy the DeGrussa Processing plant, with the deal subject to a number of conditions, including Boab making a final investment decision and gaining regulatory approval for the Sorby Hills mine.

Boab said this week:

On 18 May the Company announced that all conditions precedent to the acquisition had been satisfied and the transaction completed on Friday 22 May 2026. Located in the Meekatharra region of Western Australia, the world-class DeGrussa Copper Mine was built and operated by Sandfire as their flagship project between 2011-2024. The DeGrussa Processing Plant includes a primary crusher, ore storage bin, ball mill, SAG mill, flotation circuit, concentrate and tailings thickeners and an extensive list of new spares all fit-for-purpose for the proposed Sorby Hills process plant flowsheet and sized to achieve the targeted 100ktpa concentrate production rate.

Boab said early engineering works and the ordering of long lead time items had now started for the Sorby project, and “construction teams will be mobilised to the respective sites in the coming weeks”.

Shares looking cheap

Shaw and Partners released a new research note this week on Boab Metals, stating that they had visited the project.

They added:

The early site works are complete, with a key piece of enabling infrastructure, the site-access road, in place. The site camp is under construction and the ground works for the process plant and non-process infrastructure is underway. Early mining activities at the B pit have also commenced where the cover is being removed and used for on-site construction materials. A key take-away from our site visit was the strong support Boab and the Sorby Hills Project are receiving from the local community. Sorby Hills will replace Argyle Diamonds as a key employer in the region.

Shaw said the economics of the project were materially enhanced at the spot silver price compared to the price used in the assumptions used by the company.

Shaw and Partners has a price target of $1.70 on Boab Metals shares, compared with 40 cents currently.

Boab Metals was added to the All Ordinaries Index at its March 23 rebalance.

The post Looking to 4x your money? Shaw and Partners has tipped this miner for big things appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Buy, hold, sell: Catapult, Guzman Y Gomez, and Wesfarmers shares

The team at Morgans has been busy looking at a number of popular ASX shares this week.

Let’s see if the broker is bullish or bearish on these names. Here’s what it is saying:

Catapult Sports Ltd (ASX: CAT)

Morgans was pleased with this sports technology company’s performance in FY 2026, highlighting that its revenue and annualised contract value (ACV) were strong. But the biggest positive was arguably that operating leverage is starting to show.

In response, Morgans has retained its buy rating with a $5.40 price target. It said:

CAT’s FY26 result confirmed strong organic momentum, with revenue US$141m (+19% c/c) and closing ACV US$134m (+28% c/c) at the top of guidance, while Management EBITDA of US$25m (17.6% margin, +67% pcp) beat MorgansF. Operating leverage is now evident, with a 41% incremental margin (48% ex-acquisitions) in the period. ACV per pro team crossed US$30k for the first time whilst SaaS metrics improved. We trim FY27-FY29F Management EBITDA by 6-8% factoring in the result. Our price target is lowered to A$5.40 (from A$5.55) on these changes, offset to a degree by a valuation roll forward. BUY maintained.

Guzman Y Gomez Ltd (ASX: GYG)

The broker was pleased to see this quick service restaurant operator decide to close its US operations with immediate effect.

While this removes a potential growth engine, it also removes a loss-making part of the business that was weighing on its financial performance and simplifies its story.

Morgans has put a buy rating and $29.40 price target on Guzman Y Gomez shares. It said:

GYG announced the immediate exit of its US operations, a business that we forecast generated a significant FY26 underlying EBITDA loss and required materially more capital than could be justified by prospective returns. We view this as a positive catalyst, notwithstanding that the market has previously ascribed meaningful optionality value to the US as a long-term growth engine.

The exit removes a loss sooner than consensus anticipated and simplifies the story while the Australian operations are performing well and in line with expectations. Stripping out the US losses results in material upgrades to our EBITDA and NPAT forecasts. We maintain our BUY rating and upgrade our price target to A$29.40.

Wesfarmers Ltd (ASX: WES)

Morgans points out that the Bunnings and Kmart owner’s shares have pulled back meaningfully from their highs.

It believes this leaves Wesfarmers shares trading at more reasonable valuation. As a result, the broker has upgraded its shares to an accumulate rating with an $81.10 price target. It said:

WES’s share price has fallen 9% over the past 12 months and 7% over the past 6 months. The stock is now trading on a more reasonable 26.5x FY27F PE compared to a peak one-year forward multiple of ~37x in August 2025. We adjust FY26/27/28F group EBIT by +0%/+2%/+2%, primarily reflecting higher lithium earnings driven by updated price assumptions. Our target price increases slightly to $81.10 (from $80.50) and with a forecast 12-month TSR of 12%, we upgrade our rating to ACCUMULATE (from TRIM).

In our view, WES remains a high-quality business with a healthy balance sheet and a proven management team. Amid ongoing geopolitical uncertainty and cost-of-living pressures, its retail divisions (Bunnings, Kmart Group, Officeworks, Priceline) are well-placed to grow due to their strong value propositions. A sustained improvement in lithium prices should also support earnings over the medium term.

The post Buy, hold, sell: Catapult Sports, Guzman Y Gomez, and Wesfarmers shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Sports and Wesfarmers. The Motley Fool Australia has positions in and has recommended Catapult Sports. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

A US$7 billion takeover rumoured to be on foot in the US could give investors a better sense of the upside in Telix Pharmaceuticals Ltd (ASX: TLX) shares, according to the team at Morgan Stanley.

Takeover talks behind closed doors

Bloomberg News has reported that private equity-backed Curium Pharma has made an approach to Lantheus Holdings, which operates in the same drug compound field as Telix – radiopharmaceuticals for use in the treatment of prostate cancer.

Neither company is commenting on the supposed deal; however, Morgan Stanley said the rumoured deal numbers could be used to extrapolate a value for Telix.

Lantheus and Telix were both “key players” in the field of prostate cancer detection, Morgan Stanley said, with Lantheus through its Pylarify compound and Telix through Illuccix and Gozellix.

The Morgan Stanley team said the deal price implies a higher multiple than Telix is trading at currently, and if the multiple were applied to Telix, a share price of $18.40 to $18.95 would be on the cards.

Morgan Stanley has also factored in the revenue and R&D guidance for this year from Telix, “and risk-weighted contributions from late-stage candidates”, and has come up with a 12-month price target of $22.40 for Telix shares.

This compares with the current share price of $12.83.

Business travelling well

Telix Chief Executive Officer Christian Behrenbuch told the company’s annual general meeting last week that the company’s core commercial business was performing “extremely well”, with the company continuing to take market share in the US.

He added:

In Q1 2026, our Precision Medicine revenue was up 11% quarter-on-quarter to US$186 million with 5% volume growth. We affirm our full-year 2026 Group revenue guidance of US$950 million to US$970 million based on strong uptake of Gozellix and continued growth from Illuccix. This guidance also includes revenue from RLS Radiopharmacies. We also affirm our previously stated research and development (R&D) expenditure guidance of US$200 million to US$240 million, subject to achieving ongoing global commercial milestones.

Mr Behrenbuch said the US remained the company’s primary revenue driver, but added that it was also expanding internationally, with Illuccix now available in 22 countries.

He added:

In January, we announced acceptance of the New Drug Application (NDA) for Illuccix in China9, while in Japan we continue to progress a Phase 3 bridging study. We are also preparing to advance our NDA submission under Japan’s conditional approval framework, with the objective of enabling earlier commercial access.  

Mr Behrenbuch said Telix was continuing to advance its therapeutic pipeline, “with multiple late-stage studies gaining momentum”.

Telix is valued at $4.56 billion.

The post What does a takeover in the US tell us about the value of Telix shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has positions in Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lantheus and Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

S&P/ASX 200 Index (ASX: XJO) shares are down 0.4% to 8,655.2 points on Tuesday.

Among the 11 market sectors, consumer discretionary shares are in the lead, up 0.3%, while utilities are the laggard, down 1.9%.

Let’s find out how the experts rate three stocks across three different sectors today.

Argo Investments Ltd (ASX: ARG)

The Argo Investments share price is $8.80, down 0.1% today and 3% over the past six months.

Jed Richards from Shaw and Partners has a buy rating on this listed investment company (LIC).

He explained why on The Bull this week:

This listed investment company is trading at a material discount to its underlying asset value, offering an attractive entry point.

It provides broad diversity across leading Australian companies and pays a reliable fully franked dividend yield, which was recently above 4.4 per cent.

Recent results highlight steady income growth and a strong balance sheet. Its conservative style suits investors seeking income and stability.

Buying at a discount enhances long term return potential, while maintaining exposure to high quality Australian equities.

Amcor CDI (ASX: AMC)

The Amcor share price is $54.50, down 0.8% today and 17% over the past six months.

Richards gives Amcor shares a hold rating.

He said: 

This packaging giant continues to face pressure from elevated input costs, particularly linked to higher oil and plastic prices, which have impacted margins. Despite this, the company maintains strong global operations and continues to generate stable cash flow.

A weaker share price provides an attractive dividend yield for income investors.

Recent updates indicate increased costs have been passed through to customers.

Holding is appropriate given its defensive packaging exposure, but upside will likely depend on managing input costs.

Bapcor Ltd (ASX: BAP)

The Bapcor share price is 39 cents, up 1.3% today but down a demoralising 77% over six months.

Mark Elzayed from Investor Pulse has a sell rating on this consumer discretionary share.

Elzayed said: 

Bapcor is an aftermarket automotive parts provider in Australia and New Zealand. It operates the Autobarn, Burson and Autopro brands.

It reported improving sales from turnaround activities between February and April 2026. However, trading conditions had materially deteriorated since late March 2026 in response to the Middle East conflict and an increase in interest rates.

It has reduced fiscal year 2026 earnings guidance on what it provided on February 26, 2026. The company also flagged higher operating costs.

The share price remains under pressure. The stock has fallen from $5.22 on July 14, 2025 to trade at 38 cents on May 21, 2026.

Better options exist elsewhere, in our view.

The post Buy, hold, sell: Argo Investments, Amcor, Bapcor shares appeared first on The Motley Fool Australia.

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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 positions in and has recommended Amcor Plc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

GR Engineering Services Ltd (ASX: GNG) shares are having a big session on Tuesday after the engineering contractor was named across several fresh project updates.

At the time of writing, the GR Engineering share price is up 5.76% to $5.51.

Earlier today, the stock climbed as high as $5.62, marking a new all-time high.

Some profit-taking has since come through, but it has still been a strong day for shareholders.

GR Engineering shares are now up around 24% in 2026 and 92% over the past year.

The latest move comes as investors react to more contract work across the mining and processing sector.

Here’s what was announced.

More work at Laverton

GR Engineering said it has locked in an engineering, procurement and construction contract with Brightstar Resources Ltd (ASX: BTR).

The contract relates to Brightstar’s Laverton Processing Plant in Western Australia.

The company was appointed as the preferred contractor for the project on 17 February, and early works and long-lead item procurement have already commenced.

The contract sum is $110 million.

Brightstar also released its own update today, confirming a final investment decision for its Goldfields Project.

The company said construction of the 1.5 million tonne per annum Laverton plant has now been approved.

It also said first gold remains on track for June 2027.

Sorby Hills adds another contract

The Laverton contract was not the only update involving GR Engineering today.

Boab Metals Ltd (ASX: BML) also confirmed that it has executed an EPC contract with GR Engineering for its Sorby Hills silver-lead project.

Sorby Hills is located in the Kimberley region of Western Australia.

The contract covers the disassembly, refurbishment, and relocation of the existing DeGrussa processing plant to Sorby Hills.

Once moved, the plant will be reconstructed and commissioned to suit Boab’s requirements.

Boab said the EPC contract has a value of $109 million.

Early engineering works and ordering of long-lead items have started, with construction teams expected to mobilise in the coming weeks.

The company said on-site development at Sorby Hills is ramping up, with commercial concentrate production still on track for the second half of 2027.

Why the new work stands out

The market appears to be rewarding the size and spread of the new work.

GR Engineering has now been linked to about $219 million of EPC contract work across the Laverton and Sorby Hills updates.

That is a decent amount of new work for a business that was worth about $887 million before today’s rise.

It also comes during a busy run for the contractor, with recent work tied to the Dayhurst Expansion Project, Tower Hill Project, and Beetalo Basin.

The latest contracts also show GR Engineering is still finding work as miners move projects closer to construction.

The post Record high: This ASX stock is surging on new project wins appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Aaron Teboneras 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Wesfarmers Ltd (ASX: WES) shares are marching higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) conglomerate – whose retail subsidiaries include Bunnings Warehouse, Kmart Australia, Officeworks, and Priceline – closed yesterday trading for $75.80. In afternoon trade on Tuesday, shares are changing hands for $77.36 apiece, up 2.1%.

For some context, the ASX 200 is down 0.4% at this same time.

With today’s intraday gains factored in, Wesfarmers shares are now up 8.4% since last Monday’s close.

Despite that recent outperformance, the ASX 200 stock remains down 6.5% over the last 12 months, trailing the 3.6% one-year gains delivered by the benchmark index.

Though we shouldn’t discount the two fully-franked dividends totalling $1.42 a share that Wesfarmers paid to eligible stockholders over the year. Wesfarmers trades on a 1.8% fully-franked trailing dividend yield.

Which brings us back to our headline question.

With both Wesfarmers dividends and profits on the rise over the half-year (H1 FY 2026), should you buy the ASX 200 stock today?

Wesfarmers shares: Buy, hold or sell?

Investor Pulse’s Mark Elzayed recently analysed the outlook for Wesfarmers stock (courtesy of The Bull).

“Wesfarmers is a diversified industrial conglomerate,” he said. “It owns market leading businesses, including Bunnings, Kmart and Officeworks, generating resilient earnings, even in softer economic conditions.”

Explaining his current hold recommendation for Wesfarmers shares, Elzayed said:

We believe it makes sense to hold Wesfarmers given it generated net profit after tax of $1.603 billion in the first half of 2026, up 9.3% on the prior corresponding period. Revenue of $24.2 billion was up 3.1%.

Noting the increased passive income payout on the back of those half-year results, Elzayed concluded:

Bunnings and Kmart continued delivering strong sales growth. The group also lifted its fully franked interim dividend by 7.4% to $1.02 a share, highlighting confidence in cash generation and balance sheet strength.

What else did the ASX 200 stock report?

Wesfarmers shares closed down 5.6% on 19 February following the release of the company’s first-half results, despite the strong profit, revenue, and dividend growth Elzayed noted above.

Commenting on what helped drive that growth, Wesfarmers managing director Rob Scott said, “Wesfarmers’ increase in profit was supported by strong earnings contributions from our largest divisions – Bunnings, Kmart Group and WesCEF.”

Indeed, while the company is better known for its retail assets, Wesfarmers is also engaged in lithium mining.

At the half-year results, Scott noted:

WesCEF’s earnings benefited from a positive contribution from its lithium business, supported by the strong performance of the mine and concentrator and a significantly improved pricing environment later in the half.

The post With first half profits jumping to $1.6 billion, are Wesfarmers shares a buy today? appeared first on The Motley Fool Australia.

More reading

• Why Fisher & Paykel Healthcare, GR Engineering, Kogan, and Wesfarmers shares are pushing higher
• 5 things to watch on the ASX 200 on Tuesday
• Buying Wesfarmers shares today? Here’s the dividend yield you’ll get
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• Buy, hold, sell: L1 Long Short Fund, Metcash, and Wesfarmers shares

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. At the time of writing, the benchmark index is down 0.4% to 8,658.3 points.

Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are rising:

Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price is up 7% to $29.66. Investors have been buying this medical device company’s shares following the release of a strong FY 2026 result. Fisher & Paykel Healthcare reported a 14% increase in total operating revenue to NZ$2.31 billion and a 24% increase in net profit after tax to NZ$469.5 million for FY 2026. The company’s CEO, Lewis Gradon, said: “Our Hospital business performed strongly across the portfolio of therapies globally. We were especially encouraged by consumables growth, given it occurred during a period in which hospital admissions for seasonal respiratory illnesses in the United States and other major markets appeared to be subdued compared to the previous year. This suggests that changing clinical practice continues to be a strong growth driver.”

GR Engineering Services Ltd (ASX: GNG)

The GR Engineering Services share price is up 5.5% to $5.50. This morning, this engineering services company won an engineering, procurement and construction (EPC) contract from Boab Metals Ltd (ASX: BML). This is in relation to the Sorby Hills Silver-Lead Project, which is located 50 km from Kununurra in Western Australia. The company estimates that the contract is worth $109 million.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is up 16% to $3.99. The catalyst for this has been the release of a trading update from the ecommerce company this morning. For the 10 months ended 30 April, Kogan reported total gross sales growth of 13.2% to $875.6 million and a 25.4% increase in group adjusted EBIT to $26.9 million. This was driven by a strong performance from the core Kogan business and a much-improved performance from the Mighty Ape business. It said: “The Company delivered a Group Adjusted EBITDA margin of 8.6%, towards the upper end of previously provided FY26 guidance, which includes the impact of the turnaround of Mighty Ape. This performance was driven by strong profitability within Kogan.com, which achieved Adjusted EBITDA margin of 11.5%, together with materially improved performance at Mighty Ape in the most recent four months to 30 April 2026.”

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is up almost 2% to $77.14. This may have been driven by a broker note out of Morgans. It has upgraded the Bunnings owner’s shares to an accumulate rating (from trim) with a slightly improved price target of $81.10 (from $80.50). It said: “WES’s share price has fallen 9% over the past 12 months and 7% over the past 6 months. The stock is now trading on a more reasonable 26.5x FY27F PE compared to a peak one-year forward multiple of ~37x in August 2025.”

The post Why Fisher & Paykel Healthcare, GR Engineering, Kogan, and Wesfarmers shares are pushing higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Kogan.com and Wesfarmers. The Motley Fool Australia has recommended Kogan.com and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.