Buy, hold, sell: JB Hi-Fi, New Hope, and Qualitas shares

Are you hunting for new investment ideas? If you are, it could be worth listening to what Morgans is saying about the ASX shares in this article.

Does it rate them as buys, holds, or sells? Let’s find out:

JB Hi-Fi Ltd (ASX: JBH)

Morgans notes that retail giant JB Hi-Fi delivered a solid half-year result, which was largely in line with expectations. It was also pleased to see that margins were well-managed.

However, with January starting slowly and management sounding cautious, it has put a hold rating on JB Hi-Fi’s shares with a reduced price target of $87.00. It said:

JBH delivered a solid result, which was broadly in line with expectations. Sales were robust (+7.3%) driven by continued demand for consumer electronics and home appliances and executed well during key promotional sales events. Margins were well managed, resulting in EBIT growth of +8.1% yoy.

Trading in January has slowed from the 2Q, with management noting a cautious outlook given the retail market uncertainty and continued competitive environment. We have upgraded to a HOLD (from TRIM), and look for any weakness as a buying opportunity for this high quality retailer. Our target price falls from $95 to $87.

New Hope Corporation Ltd (ASX: NHC)

This coal miner’s half-year results weren’t too bad considering recent coal price weakness. Another positive is that Morgans believes that the company is positioned to achieve the top end of its New Acland 3 guidance range.

However, it is not enough for anything but a hold rating (down from accumulate) with an improved price target of $5.00. The broker explains:

Delivered underlying, unaudited EBITDA of $106.9 million in 2Q26, bringing 1H26 EBITDA to $214.8 million despite weakness in coal prices. NHC delivered a 2Q that positions it to ramp up its Bengalla operation to its 13.4Mtpa ROM coal production run rate in 2H26 and achieve upper end of New Acland 3 guidance range. We rate NHC a HOLD (previously ACCUMULATE) with a target of A$5.00ps (previously $4.55ps).

Qualitas Ltd (ASX: QAL)

Finally, this alternative investment company’s performance was positive thanks to residential and private-credit tailwinds.

And with its shares pulling back recently, the broker sees value on offer here. As a result, Morgans has retained its accumulate rating and $3.80 price target on its shares. It said:

QAL’s 1H26 result shows a platform accelerating on deployment, benefiting from both residential and private-credit tailwinds, and converting scale into higher recurring revenue, stronger margins and growing performance fees. This has seen Fee Earning FUM (FEF) increase 38% (vs pcp), while record deployment (+57% vs pcp) was largely driven by repeat borrowers (76%).

The continued demand for QAL’s funds resulted in higher quality result, with recurring base management fees +28% (yoy) and loan transaction fees up +69% (yoy). Running contrary to the strong operational performance, QAL’s share price has declined 14% over the past three months as sector multiples moderated. In light of this share price moderation we retain an Accumulate recommendation with a $3.80/sh target price.

The post Buy, hold, sell: JB Hi-Fi, New Hope, and Qualitas 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 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.