Buy, hold, sell: Amcor, ANZ, and Macquarie shares

If you are in the market for some blue chip additions to your portfolio, then it could be worth hearing what Morgans is saying about the three listed below.

Let’s see if the broker is bullish on bearish on these big names right now:

Amcor (ASX: AMC)

This packaging giant could be undervalued according to Morgans. Its analysts have put a buy rating and $15.20 price target on its shares.

The broker highlights the low multiples its shares trade on, its positive growth outlook, and its generous dividend yield as reasons to buy. Morgans said:

Our target price is maintained at $15.20 and with a 12-month forecast TSR of 25%, we upgrade our rating to BUY (from ACCUMULATE). Following AMC’s solid 1Q26 result, management’s increased confidence in delivering FY26 synergy targets, and the reaffirmation of FY26 guidance, we believe the outlook remains positive. Trading on 10.4x FY26F PE with a 6.1% yield, we view the valuation as attractive. Potential positive catalysts include meeting or exceeding expectations in upcoming quarterly results and the successful completion of additional asset sales.

ANZ Group Holdings Ltd (ASX: ANZ)

This banking giant’s recent second half results disappointed Morgans.

The broker responded by retaining its trim rating (between hold and sell) on ANZ’s shares with a $33.09 price target. It feels that its shares are expensive after a strong gain. Morgans explains:

Ex $1.1bn of significant items, 2H25 profit declined 7% vs 1H25, with a -3% decline in pre-provision profit (revenue +2%, costs +6%) and a doubling of credit impairment charges. Earnings were materially below market expectations, albeit consensus may not have fully adjusted for the significant items. We have downgraded our FY26-28F cash earnings by 1-2%. However, 12 month target price lifts 29 cps to $33.09/sh due to CET1 capital outperformance in 2H25. We recommend clients TRIM into share price strength, with the share price and implied valuation multiples trading at or around all-time highs.

Macquarie Group Ltd (ASX: MQG)

Finally, Morgans has been looking at this investment bank. It was a little disappointed with its performance in the first half of FY 2026.

In light of this and its fair valuation, the broker has put a hold rating and $215.00 price target on its shares. It commented:

MQG’s 1H26 NPAT (A$1.65bn) was +3% on the pcp, but -9% below company-compiled consensus ($1.81bn). Whilst acknowledging there were some explainable items driving this miss, e.g. increased investment spend in CGM, factors like green asset impairments and non-repeated prior year gains also came into play. Purely on face value, it was another headline result miss for MQG, albeit full year guidance commentary appears relatively unchanged. We make mild downgrades to our MQG FY26 earnings of -2%, with future year earnings slightly lifted (+2% to 4%) on a broad review of our earnings assumptions. Our PT is reduced to ~A$215 (previously ~A$223). We maintain our HOLD recommendation on MQG, believing the stock is currently fair value trading on 19x PE.

The post Buy, hold, sell: Amcor, ANZ, and Macquarie 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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Amcor Plc and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.