S&P/ASX 200 Index (ASX: XJO) shares are up 0.4% to 8,719.6 points on Tuesday.

Let’s check out some new ratings on these three ASX 200 shares (courtesy The Bull).  

NextDC Ltd (ASX: NXT)

NextDC shares are $10.62 apiece, down 0.2% today.

Arthur Garipoli from Dolphin Partners has a buy rating on this ASX 200 tech share. 

Garipoli said: 

This data centre operator delivered total revenue of $496.5 million in fiscal year 2026, up 16 per cent on the prior corresponding period.

Underlying EBITDA of $248.8 million was up 15 per cent.

Underlying EBITDA is expected to range between $385 million and $410 million in fiscal year 2027.

NXT has invested heavily in infrastructure during the past three years.

The recent share price decline enables longer term investors to gain entry into a growth stock with structural tailwinds.

Cleanaway Waste Management Ltd (ASX: CWY)

Cleanaway Waste Management shares are $2.65, down 0.6% on Tuesday.

Steven Springford from Catapult Wealth has a hold rating on this ASX 200 industrials share. 

He said: 

This waste management company received a conditional, non-binding indicative proposal from EQT Infrastructure at $3.13 cash a share less the cash amount of any dividends. The proposal values Cleanaway at about $9.4 billion.

There’s no certainty the proposal will proceed… In our view, investors should continue holding and potentially receive the proceeds, which may also include a special fully franked dividend.

Cleanaway released an update yesterday saying that EQT had confirmed nothing had arisen during its due diligence that would prevent it from going ahead with the purchase, and it does not intend to vary any terms of its proposal.

Cleanaway received EQT’s conditional, non-binding indicative offer to buy 100% of its shares on 13 August.

Yesterday, Cleanaway said: “EQT is continuing to progress its confirmatory due diligence and the parties are working towards the negotiation and execution of an implementation deed.”

New Hope Corporation Ltd (ASX: NHC)

The New Hope Corporation share price is $5.78, down 0.7% today.

Garipoli gives this ASX 200 coal share a sell recommendation.

He explained: 

New Hope is a thermal coal producer.

Underlying EBITDA of $514.3 million in full year 2026 was down 32.8 per cent on the prior corresponding period.

Net profit after tax of $161 million fell 63.4 per cent. The profit result was below broker estimates.

Heightened costs contributed to the fall in profit.

The shares have performed well in calendar year 2026, so investors may want to consider pocketing some gains.

The post Buy, hold, sell: New Hope, Cleanaway Waste Management, NextDC shares appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• Tech shares shine while ASX 200 plunges to 4-month low
• Top ASX shares to buy in October 2026
• 5 leading ASX shares I’d buy and hold until 2040
• Buy, hold, sell: Premier Investments, New Hope, Xero shares

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.

Nobody knows when the next serious market sell-off will arrive.

But I think it is worth owning ASX shares that I would still feel comfortable holding if share prices suddenly fell 20% or 30%.

For me, that means looking for strong competitive positions, dependable demand, and businesses that can keep moving forward even when the economic backdrop becomes less friendly.

These are three ASX shares that fit that description.

Cochlear Ltd (ASX: COH)

Cochlear would be one of my first choices. It is a global leader in implantable hearing solutions, operating in a healthcare market where the underlying need does not disappear because economic conditions weaken.

That gives Cochlear a degree of resilience I like.

There is also a long-term growth story behind the defensive qualities. Ageing populations and greater awareness of hearing loss should continue expanding the number of people who could benefit from treatment.

Cochlear also has a strong record of product development, which helps it keep improving the technology available to patients and healthcare professionals.

A market sell-off could still drag Cochlear shares lower. But I would be comfortable looking through that volatility and sticking with the long-term investment case.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is an ASX share that gives me a different kind of confidence.

This conglomerate’s portfolio includes businesses such as Bunnings, Kmart, Target, Silk Laser, Priceline, and Officeworks, giving the company exposure to categories that remain important to Australian consumers through different parts of the economic cycle.

I particularly like the strength of Bunnings. Its scale, brand recognition, and position in home improvement make it difficult to replicate, while Kmart has built a strong value proposition that can remain relevant when household budgets are under pressure.

Wesfarmers also has a long history of allocating capital across different businesses and industries. That flexibility is valuable during weaker markets. A strong balance sheet and patient management can create opportunities when other companies are forced to pull back.

For me, that makes Wesfarmers the sort of business I would be happy to keep holding even if sentiment towards the broader market turned sharply negative.

Woolworths Group Ltd (ASX: WOW)

Woolworths would be my third ASX share pick.

Grocery spending is one of the more defensive parts of the economy because households still need food and everyday essentials regardless of what markets are doing.

That gives Woolworths a steady demand base through periods when consumers may be cutting back elsewhere.

Its scale also works in its favour. Woolworths operates one of the country’s largest supermarket networks, with the purchasing power, distribution infrastructure, and customer reach that come with that position.

The business still needs to execute well, particularly around pricing, costs, and competition. But if the share market were falling because investors were worried about the economic outlook, Woolworths is the sort of company I would be comfortable continuing to own.

Foolish takeaway

A market downturn would probably send all three share prices lower. That would not automatically make me want to sell them.

What I care about is whether the businesses themselves can keep strengthening while the market works through the turbulence.

Cochlear, Wesfarmers, and Woolworths all give me reasons to believe they could. That is why I would be comfortable owning them before, during, and after the next sell-off.

The post 3 defensive ASX shares I’d buy in a market sell-off appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Goodman, Wesfarmers, BHP shares
• Buy, hold, sell: Megaport, Northern Star, Woolworths shares
• A leading fund just bought these top ASX 200 shares
• Wesfarmers vs Woolworths: Which ASX dividend share looks better this month?
• How to build a $52,000 passive income with ASX shares

Motley Fool contributor Grace Alvino has positions in Wesfarmers. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear and Wesfarmers. The Motley Fool Australia has recommended Cochlear and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

If you are looking to bring your portfolio to life, then it could be worth considering the ASX healthcare stock in this article.

That’s because if Bell Potter is on the money with its recommendation, it could double in value between now and this time next year.

Which ASX stock?

The stock that has caught the eye of Bell Potter is Aroa Biosurgery Ltd (ASX: ARX).

It is a commercial stage medical device company that operates within the wound care and soft tissue reconstruction sector. 

Bell Potter highlights that the company has reported positive peer-reviewed results from its published Symphony randomised controlled trial in diabetic foot ulcers (DFUs). It said:

Symphony plus standard of care (SOC) increased complete wound closure at 12 weeks to 45.6% versus 23.6% with SOC alone, a 22pp benefit (p=0.008). The benefit importantly remained significant after adjustment for baseline wound area and ulcer recurrence, with consistent per-protocol findings. Estimated mean time to closure was also 7.8 days shorter at 67.4 days. These results establish substantive clinical evidence expected to support Symphony’s outpatient adoption in both chronic and complex wounds.

The broker believes these results and economics reshape the opportunity. It adds:

The results arrive as reimbursement reform increases scrutiny of both clinical evidence and treatment economics. Provider uncertainty and wastage restrictions are disrupting the market, creating opportunities in the institutional channels that ARX is targeting. 

Symphony’s competitive pricing, shelf-stable format and range of SKUs support its positioning as provider margins, logistics and wound-matched sizing become increasingly important to product selection.

Big potential returns

According to the note, the broker has retained its buy rating and $1.09 price target on the ASX stock. 

Based on its current share price of 50.5 cents, this implies potential upside of approximately 115% for investors over the next 12 months.

Commenting on its investment thesis and valuation, Bell Potter said:

Myriad remains the established near term growth driver, while Symphony provides access to a significant outpatient opportunity supported by a stronger clinical evidence base. Against an estimated US$1bn addressable market, our Symphony revenue forecasts remain modest at NZ$1.5m in FY27 and NZ$2.0m thereafter, leaving meaningful upside as adoption gains traction. 

ARX continues to screen attractively on 1.6x consensus CY26 EV/revenue, a ~40% discount to the broader peer average and ~61% to domestic peers. We see scope for this gap to narrow through continued direct sales growth, with the November H1 result the next catalyst in assessing commercial progress. We maintain our Buy rating and $1.09 target price.

The post Top broker says this ASX stock could rise 115% appeared first on The Motley Fool Australia.

More reading

• Morgans says these ASX shares could return 48% to 95%
• 7 ASX healthcare stock picks from Bell Potter

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.