Buy, hold, sell: SRG Global, Cochlear, NAB shares

S&P/ASX 200 Index (ASX: XJO) shares are 0.2% higher at 9,073.3 points on Thursday.

As earnings season continues, Morgans has updated its ratings and 12-month price targets following company reports.

Let’s take a look at the broker’s assessment of these ASX shares post-results.

SRG Global Ltd (ASX: SRG)

The SRG Global share price is $3.99, down 2.8% today and up 115% over 12 months. 

Over the past month, this ASX 200 industrial share has risen 13%.

Morgans kept a buy rating on this ASX 200 industrial share after reviewing the company’s FY26 report.

SRG delivered a strong FY26 with EPSA growth of +30%, largely consistent with its 5-year EPSA CAGR of +32%.

FY27 guidance was upgraded, and the momentum looks set to continue.

Organic growth is strong (2H EBITA +19%) and the order book has risen sharply (+20% in 6 months), providing robust visibility into FY27 and beyond.

Although SRG has re-rated, earnings momentum via organic and inorganic growth could see the company continue to compound +30% EPS growth over the next 3 years.

The broker raised its share price target from $4.20 to $4.70.

This implies a potential 15% upside from here.

Cochlear Ltd (ASX: COH)

The Cochlear share price is $137.26, down 0.1% today and down 55% over 12 months. 

Over the past month, this ASX 200 healthcare share has increased 15%.

Morgans retained a hold rating on this healthcare heavyweight share after its FY26 report.

FY26 result was mixed, with underlying NPAT of A$322m, 6% above our forecast, despite revenue of A$2,348m being broadly in line.

The result benefited from a stronger 2H, particularly Services and cochlear implant (CI) volumes, although margins remained under pressure.

Notably, Nexa adoption has been solid, capturing >95% of developed-market (DM) implants, but has yet to translate into an acceleration in underlying market growth.

FY27 NPAT guidance of A$330-350m implies only modest growth and not yet a material earnings inflection.

Morgans has a share price target of $138.42, which implies just 1% growth ahead.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is $38.33, down 1.5% today and down 9% over 12 months. 

Over the past month, this ASX 200 bank share has fallen 3%.

Morgans maintained a trim rating on the ASX 200 bank share after NAB’s 3Q FY26 update.

The broker said:

3Q26 cash profit growth trailed 2H26 consensus expectations, driven by slower revenue growth (particularly the relatively higher quality net interest income).

No change to FY26F EPS, but FY27/28F moderated on lower net interest income growth outlook.

DCF valuation declines -3% to $35.19/sh.

TRIM retained. Potential TSR c.-5% at current prices (including c.4.4% yield).

Morgans has a 12-month target of $35.19 on NAB shares.

This implies a potential 8% downside ahead.

The post Buy, hold, sell: SRG Global, Cochlear, NAB shares appeared first on The Motley Fool Australia.

More reading

• Why I’d buy CSL, Cochlear, and Pro Medicus shares
• Here are the top 10 ASX 200 shares today
• Buy $5,000 of Cochlear shares today and it could be worth this much in 12 months
• This high flying industrials stock just rocketed 9% on results and is expected to keep rising
• Is the NAB share price a buy for its 6% dividend yield?

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 positions in and has recommended Cochlear. The Motley Fool Australia has recommended Cochlear and Srg Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.