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

Do you have room for some new additions to your portfolio?

If you do, let’s see what Morgans is saying about the ASX shares listed below and whether you should be considering a position in them this month.

Here’s what the broker is saying:

ANZ Group Holdings Ltd (ASX: ANZ)

Morgans was relatively pleased with this banking giant’s performance during the first quarter.

While the bank is making strong progress with its cost reductions, the broker highlights that its guidance for the full year remains the same.

As a result, it hasn’t seen anything to make it more positive and has put a sell rating and $32.65 price target on ANZ’s shares. It said:

On face of it, the 1Q26 trading update suggested ANZ was tracking ahead of 1H26 growth expectations. However, the beat was driven mostly by the speed of cost-out and will unlikely affect consensus expectations as ANZ retained its FY26 cost guidance of c.$11.5bn. We make minor adjustments to FY26-28F EPS, reflecting 1Q26 Markets revenue strength, impairment charges lower than expected (but off an already low base), and higher shares on issue (DRP uptake was higher than assumed). 12-month target price $32.65 (+8 cps).

We estimate ANZ is trading on 1.8x P:TBV, 16x PER, and 4.1% cash yield (partly franked), all stretched against historical trading ranges. Given the recent share price strength, we downgrade our rating from TRIM to SELL.

Breville Group Ltd (ASX: BRG)

Morgans is far more positive on this appliance manufacturer.

After a better than expected half-year result, the broker has put a buy rating and $40.65 price target on its shares. This implies potential upside of approximately 50% from its current share price. It said:

1H26 was better-than-feared, with double-digit sales growth (+10%) largely offset by tariff costs (~130bp GM impact) to deliver a flat NPAT outcome (+1% on pcp). Crucially, FY26 EBIT growth guidance provides much-needed earnings visibility, alleviating some concerns for an extended transition year and improving our confidence for a resumption of sustainable EPS growth from FY27+.

We continue to be impressed by BRG’s strong operational execution, green shoots in Food Prep, and powerful medium-term tailwinds (geographic expansion, espresso tailwinds, NPD, Best Buy developments). Buy maintained.

Macquarie Group Ltd (ASX: MQG)

Finally, Morgans is a fan of this investment bank and was pleased with its performance during the third quarter.

However, due to its current valuation, it only has a hold rating and $223.00 price target on its shares. It commented:

MQG has hosted its annual operational briefing, together with releasing its 3Q26 update.  On the 3Q26 update, we saw this as a solid performance overall, benefitting from market-facing businesses (CGM and Macquarie Capital) seeing results “substantially up” on the pcp.

Additionally, there was an underlying upgrade to CGM guidance, albeit this has been offset, to some degree, by an expected higher FY26 tax rate. We lift our MQG FY26F/FY27F EPS by +2%/+4% reflecting the more positive CGM commentary, blunted somewhat by higher expected tax. Our target price rises to ~$223 (from A$214). We maintain our HOLD recommendation.

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