Buy, hold, sell: AGL, Coles, and PLS shares

There are a lot of shares to choose from on the ASX 200 index.

To narrow things down for investors, let’s see what analysts are saying about these popular options.

Are they buys, holds, or sells? Let’s find out.

AGL Energy Limited (ASX: AGL)

The team at Ord Minnett is feeling bullish on this energy giant. It has a buy rating and $13.00 price target on its shares.

The broker sees potential for AGL’s earnings to rise from higher Victorian wholesale prices. It said:

The company has demonstrated solid momentum over recent times with the Tilt renewable asset sale, flexible capacity development at Bayswater, progress in its Western Australia operations and a series of power purchase agreements (PPAs), and we see further drivers to come from revaluation of its 20% stake in energy management platform Kaluza, a closure of Energy Australia’s Yallourn power station that will push Victorian wholesale prices, and thus AGL earnings, higher, and repricing of Tomago supply contracts.

Post the investor day, we have raised our FY26 EPS estimates by 6.1% to incorporate wider electricity margins partially offset by higher growth capital expenditure, while our forecasts for FY27 and FY28 are trimmed 0.5% and 0.2%, respectively.

Coles Group Ltd (ASX: COL)

Over at Morgans, its analysts have been pleased with the supermarket giant’s performance in FY 2026, despite softer than expected liquor sales.

However, due to recent share price strength, the broker thinks its shares as fairly valued. As a result, it has a hold rating and $22.90 price target on its shares. Morgans feels that investors should wait for a better entry point. It said:

COL reported a solid 1Q26 sales trading update driven by growth in its Supermarkets division. However, Liquor sales were softer than expected as consumers remain focused on value. Management indicated that Supermarkets sales growth in early 2Q26 has remained broadly in line with 1Q26, at ~4.8%. With Woolworths’ (WOW) Australian Food sales up ~3.2%, COL continues to outperform, although the gap is narrowing. The liquor market remains challenging.

We decrease FY26-28F underlying EBIT by 1%, mainly on the back of lower Liquor forecasts due to the ongoing softness in the market. Our target price declines to $22.90 (from $23.45) and we maintain our HOLD rating. While Supermarkets momentum remains positive heading into the key Christmas trading period and execution continues to be strong, trading on 23x FY26F PE with a 3.6% yield, we view COL as fully valued. We would look to reassess our view should the share price weaken further.

PLS Group Ltd (ASX: PLS)

Morgans has also been looking at lithium giant PLS Group, which was formerly known as Pilbara Minerals.

It thinks its shares are overvalued following a strong gain. As such, it has put a sell rating and $3.10 price target on them. It said:

Strong 1Q26 result with production, costs and revenue ahead of expectations. PLS continues to engage with the government following the Australia-US critical minerals framework. Management stipulated its preference for shared infrastructure initiatives over potential price floors. Following recent share price strength we believe PLS is now trading well ahead of fundamentals and we therefore move to a SELL rating.

The post Buy, hold, sell: AGL, Coles, and PLS shares appeared first on The Motley Fool Australia.

More reading

• 10 best ASX 200 large-cap shares of 2025
• Analysts are urging investors to buy these ASX dividend shares
• Top retirement shares for Australian investors to buy now
• An ASX dividend stalwart every Australian should consider buying
• My 10 top stocks to buy to start the New Year off right

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.