The team at Morgans has been busy running the rule over a number of ASX shares this week.

But does the broker rate them as buys? Let’s see what it is recommending:

Aristocrat Leisure Ltd (ASX: ALL)

Morgans has made minor revisions to its estimates ahead of this gaming technology company’s results next month.

However, it remains very positive and has retained its accumulate rating on Aristocrat Leisure’s shares with a slightly trimmed price target of $69.00. This implies potential upside of approximately 17% for investors. It said:

With G2E in Las Vegas this week, and ahead of its FY26 result on 12 November, we have made minor revisions to our earnings forecasts. We lower our FY26-27 fee per day and North American outright unit forecasts and our FY26 Product Madness bookings. We also lift our AUD/USD assumption and increase our buy-back assumptions. 

Our NPATA forecasts fall by c.1% across FY26-27F. EPSA is broadly unchanged in FY26 and up c.1% in FY27, reflecting higher buy-backs. Our 12-month target price decreases to A$69.00 (prev. A$70.00). We maintain our Accumulate recommendation.

Liontown Ltd (ASX: LTR)

Another ASX share that Morgans has been looking at is lithium miner Liontown.

In response to its production expansion announcement, the broker has retained its accumulate rating with a $1.10 price target. This suggests that upside of almost 40% is possible for investors. It commented:

LTR has approved the A$389m Kathleen Valley Expansion, targeting ~780ktpa of spodumene concentrate from FY30, with steady-state production in line with our expectations but unit costs above MorgansF and consensus. 

Our target price falls to A$1.10ps (from A$1.40ps) on a slower FY28-FY29 ramp-up and higher near-term capex and costs, with falling lithium prices and execution now the key risks. We maintain our ACCUMULATE rating with a A$1.10ps target price.

Navigator Global Investments Ltd (ASX: NGI)

This global investment company’s shares could be worth considering according to Morgans.

In response to news that Navigator Global is selling its stake in Invictus Capital Partners, the broker has retained its buy rating with a $3.04 price target. This implies potential upside of 27% for investors from current levels. It said:

NGI has agreed to sell its stake (21%) in Invictus Capital Partners to New York Life Investment Management (NYLIM). The sale will take place in several stages. The sale crystallises a premium of up to ~8% to cost on the initial 12.7% stake, while NGI keeps its carry and future upside through a residual 8.3% stake. Management expects the retained stake could be worth meaningfully more, on a pro-rata basis, when it is transferred in 2031, helped by the NYLIM partnership. 

In our view, the sale shows the optionality and embedded value in NGI’s portfolio. We have left our earnings forecasts unchanged for now and will wait for more detail from NGI at its February result. That timing matches the expected transaction completion in the first quarter of 2027. We see long-term value in the NGI story and maintain our BUY recommendation and target price of A$3.04.

The post Buy, hold, sell: Aristocrat, Liontown, and Navigator Global shares appeared first on The Motley Fool Australia.

More reading

• Forget PLS, this ASX lithium stock could rise 80%
• 5 things to watch on the ASX 200 on Thursday
• Barrenjoey tips this ASX financial stock to rise 73%
• Liontown Resources approves $389m Kathleen Valley lithium expansion
• Here are the top 10 ASX 200 shares today

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.

If you are searching for big returns, then it could be worth hearing what Bell Potter is saying about the S&P/ASX 200 Index (ASX: XJO) share in this article.

That’s because the broker believes it could deliver a total return of around 50% over the next 12 months.

Which ASX 200 share?

The share that Bell Potter is recommending to clients is Netwealth Group Ltd (ASX: NWL).

It is an investment platform provider used by over 4,000 financial advisers and with over $135 billion in funds under administration (FUA).

Bell Potter has updated its forecasts to reflect weaker equity markets. It said:

We update our model to reflect equity market movements and comment on net flow expectations. Consensus forecasts appear too high, implying the upper end of the $18-20bn guided range is achieved over the last 6 weeks of 1Q. This compares to $14bn run rate over the first 7 weeks. Equity markets have also weakened since the trading update, with September the second worst performing month this year behind March.The local share market declined by -4%. We make no EPS changes, having already factored in the negative mark-to-market impact of the drawdown.

The broker also highlights that it thinks consensus estimates for net inflows is too high and is forecasting inflows of $3.2 billion for the first quarter. It adds:

Guidance stands between $18-20bn. This is subject to sentiment and the economic and regulatory environment. Our 1Q net inflow forecast is $3.2bn vs. $3.5bn consensus. NWL reported $1.4bn of net inflows between 30 June and 21 August with a one-off institutional outflow worth $0.6bn. That equates to a $1.2bn monthly run rate. Our estimate assumes a $1.4bn exit rate vs. $1.7bn consensus. Flows have been running around that range already before MS Wealth contribution.

However, despite this, the broker remains very positive on the ASX 200 share and sees recent share price weakness as a buying opportunity.

Big potential returns

According to the note, the broker has retained its buy rating on the ASX 200 share with a trimmed price target of $25.00 (from $30.00).

Based on the current Netwealth share price of $16.69, this implies potential upside of 50% for investors between now and this time next year.

In addition, the broker is forecasting a fully franked 3.1% dividend yield in FY 2027 (and 3.6% in FY 2028 and 4.1% in FY 2029), which boosts the total 12-month return to over 50%.

Commenting on its buy recommendation, Bell Potter said:

Maintain Buy. Given interest rates, we have moved our valuation multiple to 2022-23 levels with a class action provision. Our flow expectations are below FY27 guidance. NWL has operated in similar environments, with large withdrawals and clients moving off platform. FY23 flows landed -10% below the guidance and growth was restored in 12mths. Our $17.9bn matches this experience. So far, we are 6mths into the cycle.

The post This ASX 200 share is tipped to return over 50% appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• 2 ASX shares highly recommended to buy: Experts
• Why are Netwealth shares crashing 6% on Friday?
• Netwealth faces class action after compensation payments
• 3 ASX shares down 40% to 80% I’d buy on the cheap

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

Stockland vs Vicinity Centres shares: Which ASX REIT comes out on top?

Many Aussie investors turn to A-REITs for solid income, dependable assets, and a defensive edge in uncertain times. If you’re tossing up between Stockland Corporation Ltd (ASX: SGP) and Vicinity Centres (ASX: VCX) shares, you’re comparing two giants of the local real estate investment trust landscape. Both offer exposure to property, but take different approaches. Let’s dig in and see which one might suit your portfolio best.

The case for Stockland

Stockland is one of Australia’s most diversified property names. Its main play is residential land and housing development, making it the country’s biggest in this space. According to its company profile, about a third of its funds come from this sometimes volatile segment, but the lion’s share flows in from commercial properties—predominantly retail, with a growing push into office and logistics assets. Stockland is reshaping its portfolio, trimming traditional retail and adding new growth opportunities like industrial properties.

Looking at the fundamentals:

• Market cap: $10.02 billion
• P/E ratio: 9.98
• Dividend yield: 6.16%

Earnings per share sits at $0.410, and the 2026 year-to-date return is a rough -25.8%. Of note, Stockland’s dividends remain unfranked and have fluctuated over the years, but the recent dividend per share is $0.25. What stands out for income seekers is that healthy yield, though the share price has seen some serious headwinds lately.

The case for Vicinity Centres

Vicinity Centres is an Australian REIT laser-focused on retail, being the country’s second-largest retail property manager by owned assets. Emerging from the merger of Federation Centres and Novion, Vicinity operates and manages a portfolio of about 50 shopping centres, including some prominent malls. Beyond retail, Vicinity is adding value by developing mixed-use spaces that bring together shopping, workspaces, and residential elements.

A glance at Vicinity’s key numbers:

• Market cap: $10.67 billion
• P/E ratio: 7.53
• Dividend yield: 5.46%

Its earnings per share comes in at $0.301, and its year-to-date return for 2026 is -6.5%. Dividends (also unfranked) have been consistent, with the most recent payout sitting at $0.12 per share. For those seeking retail exposure and a stable yield, Vicinity offers a pure-play approach.

Valuation comparison

Here’s a head-to-head look at some key valuation metrics:

Metric	Stockland	Vicinity Centres
Market cap	$10.02bn	$10.67bn
P/E ratio	9.98	7.53
Dividend yield	6.16%	5.46%
Earnings per share	$0.410	$0.301
Dividend per share	$0.25	$0.12
Year-to-date return	-25.79%	-6.48%

Note: Stockland’s P/E and EPS are arithmetically consistent; the same applies for Vicinity Centres, so these numbers align as expected. Franking is 0% for both—there’s no franking edge here.

Recent share price performance

Comparing recent share price action up to 25 September:

• As of 25 Sep 2026, Stockland closed at $4.02, down 1.95% for the day, continuing a steep decline YTD (-25.8%).
• On the same day, Vicinity Centres closed at $2.27, down 0.44%, with a YTD return of -6.5%.
• Vicinity has shown greater resilience over 2026, while Stockland has experienced heavier selling pressure.

Which is the better buy?

For me, Vicinity Centres stands out as the steadier option right now. The retail focus gives it a degree of predictability, and its recent share price performance has been much less volatile than Stockland. While Stockland offers a slightly higher dividend yield, the sharp -25.8% YTD share price decline suggests deeper market concerns—perhaps about its exposure to residential cycles or business mix changes. Vicinity’s P/E is a fair bit lower than Stockland’s, pointing to a less demanding valuation, especially for a business with more stable income and property assets.

Stockland’s diversified approach and higher yield might appeal to bolder investors prepared to ride out the volatility for long-term gains, but I’d lean toward Vicinity Centres for its greater consistency, resilience, and competitive yield at a lower earnings multiple. If I had to pick one ASX REIT for my own watchlist, it would be Vicinity—at least based on the numbers in front of me.

The post Stockland vs Vicinity Centres: Which ASX REIT is the better buy? appeared first on The Motley Fool Australia.

More reading

• 6 ASX 200 shares scoring renewed buy calls this week
• Vicinity Centres: 2026 Capability Showcase highlights Chadstone and Chatswood Chase
• Here are the top 10 ASX 200 shares today
• Stockland shares are sinking 4%. Is this $3.8 million CEO sale a warning sign?

Motley Fool contributor Laura Stewart 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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial draft. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.