What is Morgans saying about Helloworld, TPG Telecom, and Coles shares?

The S&P/ASX 200 Index (ASX: XJO) ended earnings season at a record high of 9,198.6 points, up 3.72% for the month.

Meanwhile, the professionals continue to assess companies’ earnings reports and re-rate ASX stocks accordingly.

Let’s take a look at what Morgans thinks of these three ASX companies following their results.

Helloworld Travel Ltd (ASX: HLO)

Helloworld reported a 12.1% lift in underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) to $30.5 million for 1H FY26.

The ASX travel share will pay a pay a fully franked interim dividend of 5 cents per share.

Post-results, Morgans maintained its buy rating on Helloworld shares, commenting:

HLO reported a strong 1H26 result which slightly beat expectations.

FY26 EBITDA guidance for 15-30% growth was reiterated. Its forward bookings remain strong.

Following the 1H26, we have upgraded our forecasts.

Given HLO’s undemanding trading multiples, improved trading conditions and contribution from new accretive acquisitions, we reiterate our BUY rating.

Coles Ltd (ASX: COL)

Coles reported a 12.5% lift in net profit after tax (NPAT), excluding significant items, to $676 million.

NPAT including significant items was $511 million, down 11.3%.

Those significant items totalled $235 million, or $165 million after tax, and were the result of a Federal Court judgment relating to Fair Work proceedings involving historical underpayment of workers.

Coles shares will pay a fully franked interim dividend of 41 cents per share, up 10.8% on last year.

Morgans said the 1H FY26 result was softer than expected but execution remained strong.

The broker upgraded the ASX consumer staple share from a hold to accumulate rating.

In our view, COL continues to perform well with key Supermarkets metrics such as customer scores, sales growth, cost discipline and store execution remaining solid.

We hence view the recent share price pullback as an attractive entry point.

The Coles share price has fallen 14.6% over the past six months.

Morgans maintained its 12-month price target of $22.90 on Coles shares.

TPG Telecom Ltd (ASX: TPG)

TPG Telecom reported an NPAT of $52 million for FY25, up from a loss of $140 million in FY24.

The company improved its operating free cash flow by 98.9% to $1,291 million.

TPG Telecom shares will pay a final dividend of 9 cents per share with 30% franking.

After reviewing the numbers, Morgans maintained its accumulate recommendation on the ASX telco share.

The broker said:

TPG’s FY25 result was in line with guidance and consensus expectations, as was its underlying EBITDA and capex guidance for FY26.

The highlight was continued strong mobile subscriber growth. For many years TPG/Vodafone has struggled to grow mobile market share.

However, over the course of 1HCY25 and 2HCY25 it has ignited growth and outpaced peers in terms of mobile subscriber growth.

Its network quality and brands are resonating with consumers and medium-term mobile growth could soon become a trend.

The broker increased its 12-month price target on TPG Telecom shares from $4.20 to $4.40.

The post What is Morgans saying about Helloworld, TPG Telecom, and Coles 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 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.