S&P/ASX 200 Index (ASX: XJO) shares are down 0.8% to 9,057.1 points as earnings season continues today.

After reviewing companies’ results, brokers have reduced their ratings on numerous ASX shares.

Let’s see a sample.

PLS Group Ltd (ASX: PLS)

The PLS Group share price is $5.23, down 1.2% today and up 123% over 12 months. 

Over the past month, this ASX 200 lithium share has ripped 23% higher.

Morgans downgraded PLS shares from hold to trim after the miner’s FY26 results.

The broker commented:

PLS delivered an in-line FY26 Underlying EBITDA result and surprised with a maiden 5cps fully franked final dividend (22% FCF payout).

We view PLS as fairly valued at current levels, with its premium to peers already reflecting the company’s best-in-class execution, balance sheet and growth optionality.

Depleted lithium inventories leave scope for short-term upside, though we see the medium-term outlook as more volatile given uncertainty around supply and demand drivers.

The broker retained its 12-month price target of $4.60, which implies a 12% downside ahead.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price is $12.31, down 2.1% today and up 64% over 12 months. 

Over the past month, this ASX 200 energy share has jumped 29%.

Morgans downgraded Paladin Energy shares from buy to accumulate due to recent share price strength.

Following the uranium miner’s FY26 report, the broker increased its target price to $14.10.

This suggests a potential 15% upside ahead.

Morgans said:

Cash is starting to flow — PDN delivered positive operating cash flow for the first full year since the restart, generating US$38m in FY26 and marking the transition from ramp-up story to steady-state and cash-generating producer.

Guidance beaten across the board — Langer Heinrich Mine (LHM) exceeded FY26 production, sales and cost guidance, providing further evidence that the operation can sustainably deliver and continues to build momentum as it enters more steady state operations.

Lovisa Holdings Ltd (ASX: LOV) 

The Lovisa share price is $27.14, down 1.7% today and down 34% over 12 months. 

Over the past month, this ASX retail share has soared 27%.

Morgans downgraded Lovisa shares, on valuation grounds, from buy to accumulate after the retailer’s FY26 report.

The broker reduced its 12-month price target to $31.

This implies a potential 14% upside ahead.

Ora Banda Mining Ltd (ASX: ORA)

The Ora Banda share price is $1.59, down 1.9% today and up 84% over 12 months. 

Over the past month, this ASX 200 gold share has ripped 42% higher.

MA Financial Group downgraded Ora Banda shares to a hold rating after the miner’s FY26 report.

The broker raised its 12-month price target from $1.40 to $1.60.

This implies a potential 1% upside ahead.

Sandfire Resources Ltd (ASX: SFR)

The Sandfire Resources share price is $23.47, down 2.8% today and up 85% over 12 months. 

Over the past month, this ASX 200 copper share has leapt 22%.

The Sandfire Resources share price struck a new record of $25 on the back of its FY26 report yesterday.

Morgans downgraded Sandfire Resources shares from accumulate to hold with a $23 target.

This indicates the stock is fully valued now.

The broker commented:

SFR resumed dividends with a 35cps final dividend (+86% vs expectations) and we see scope for this to build further as its cash balance continues to grow with no drawn debt, supported by a favourable base metals price environment.

SFR’s asset quality, management quality and balance sheet strength, alongside emerging growth optionality, underpin its case as a core copper exposure for long-term investors, though the stock appears fully valued at current prices.

Scentre Group (ASX: SCG)

The Scentre share price is $3.57, down 1.4% today and down 12% over 12 months. 

Over the past month, this ASX 200 real estate investment trust (REIT) has fallen 8%.

Jarden downgraded Scentre shares to a hold rating after reviewing the property group’s 1H FY26 results.

The broker has a $4.05 target, which suggests a potential 13% upside ahead.

Inghams Group Ltd (ASX: ING)

The Inghams share price is $2.05, up 2.3% today and down 26% over 12 months.

Over the past month, this ASX 200 consumer staples share has fallen 9%.

Jarden downgraded Inghams shares to a hold rating after the company’s FY26 results.

The broker’s target is $2.50, which implies a potential 22% upside ahead.

The post 7 ASX 200 shares downgraded by brokers this week appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Coles, Paladin Energy, and Woodside shares
• 3 ASX mining shares Bell Potter rates a buy
• Why I think the Lovisa share price is an excellent long-term buy right now
• How much superannuation is needed to target a $50,000 annual passive income?
• Here are the top 10 ASX 200 shares today

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

There are a lot of ASX shares out there for investors to choose from.

To narrow things down, let’s take a look at what the team at Morgans is saying about the three popular shares listed below. 

Here’s what it is recommending:

Coles Group Ltd (ASX: COL)

This supermarket giant delivered a result that was largely in line with expectations in FY 2026 despite a challenging operating environment. Morgans said:

COL’s FY26 result was broadly in line with expectations, with Supermarkets the key highlight while Liquor remained soft. Despite a challenging operating environment due to ongoing cost-of-living pressures, geopolitical uncertainty and increasing regulatory complexity, COL continued to gain market share in Supermarkets with momentum building across its digital business. COL also outlined several initiatives to support its next phase of growth. 

Alongside the ongoing development of its VIC automated distribution centre, the company plans to accelerate investment in stores, online capacity and technology, while repositioning its liquor offering with a greater focus on supermarket co-locations and a more integrated food and drinks proposition.

In response to the release, Morgans has retained its accumulate rating (between buy and hold) with an improved price target of $25.40. It adds:

We adjust FY27/28/29F underlying EBIT by +1%/+2%/+2%. Our target price increases to $25.40 (from $24.60) and we maintain our ACCUMULATE rating.

Paladin Energy Ltd (ASX: PDN)

This uranium producer’s FY 2026 results impressed Morgans. It highlights that the Langer Heinrich Mine outperformed guidance for production, sales and costs. The broker said:

Cash is starting to flow – PDN delivered positive operating cash flow for the first full year since the restart, generating US$38m in FY26 and marking the transition from ramp-up story to steady-state and cash-generating producer. Guidance beaten across the board – Langer Heinrich Mine (LHM) exceeded FY26 production, sales and cost guidance, providing further evidence that the operation can sustainably deliver and continues to build momentum as it enters more steady state operations. 

However, due to recent share price strength, the broker has downgraded Paladin Energy’s shares to an accumulate rating with an improved price target of $14.10. It adds:

Following recent share price strength, we move to an ACCUMULATE (previously BUY) with an increased price target of A$14.10ps.

Woodside Energy Group Ltd (ASX: WDS)

Energy giant Woodside outperformed expectations in the first half of FY 2026 according to Morgans. 

It highlights that stronger than expected realised prices underpinned an earnings beat. It said:

WDS delivered a 1H26 EBITDAX beat (+6%) and inline underlying NPAT result (+1%). Underlying NPAT of US$1,334m ~1% ahead of consensus and ~3% ahead of MorgansF, was driven by stronger realised pricing (+20% yoy) and trading activity. Costs were inside the ranges pre-announced with the Q2 report. The interim dividend of US57cps (+8% YoY) was held at an 80% payout of underlying NPAT despite gearing (20.6%) sitting marginally above the 10-20% target range. A H2 skew in production and realised prices will help, while management also announced a US$350m pa cost savings target from 2028. 

However, due to its current valuation, the broker has held firm with its hold rating and $32.20 price target. It concludes:

We maintain our HOLD rating and A$32.20 target price.

The post Buy, hold, sell: Coles, Paladin Energy, and Woodside shares appeared first on The Motley Fool Australia.

More reading

• 7 ASX 200 shares downgraded by brokers this week
• 3 ASX mining shares Bell Potter rates a buy
• 5 things to watch on the ASX 200 on Thursday
• How much do I need to retire on $120,000 a year at 55?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. 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.

The Clinuvel Pharmaceuticals Ltd (ASX: CUV) share price is in focus after the company posted its tenth straight annual profit and announced a stable, fully franked dividend of $0.05 per share for FY2026.

What did Clinuvel Pharmaceuticals report?

• Revenue declined slightly to $94.0 million, down 1% from FY2025.
• Net profit after tax was $33.9 million, a 6% decrease year on year.
• Cash reserves rose 12% to $252.1 million.
• Expenses held steady, dropping 0.5% to $53.5 million.
• Basic earnings per share slipped 6% to $0.68.
• A franked final dividend of $0.05 per share was declared, matching last year.

What else do investors need to know?

Clinuvel’s profit marks a decade of uninterrupted earnings, which the company credits to disciplined cost controls and strong treatment demand for SCENESSE®. While revenue declined marginally as US sales softened – partly due to competitor programs and a shift in US supply practices – European revenue growth offset this impact.

The balance sheet remains robust, with net tangible assets per share climbing 12%. Operating cash inflow was $36.9 million, and after prepaying income tax, cash reserves still finished notably higher. The steady dividend reflects a commitment to reward shareholders, equating to 9% of free cash generated for the period.

What did Clinuvel Pharmaceuticals management say?

Group Chief Financial Officer Mr Peter Vaughan said:

This position provides us with flexibility to pursue an expansion strategy, continue investing through market cycles in key strategic areas, and allocate capital based on opportunity rather than necessity. As CLINUVEL builds its operations and presence in the capital markets in the United States, we can do so from a position of strength.

What’s next for Clinuvel Pharmaceuticals?

Clinuvel aims to use its strong cash and asset base to drive further growth in North America and other markets. Management will continue to invest in core areas like R&D and the Phase III vitiligo program and expects steady business expansion through diversification.

The company remains confident in self-financing its strategy, thanks to disciplined spending and consistent cash flow. Shareholders can also look forward to continued dividends, subject to cash reserves and performance.

Clinuvel Pharmaceuticals share price snapshot

Over the past 12 months, Clinuvel Pharmaceuticals shares have declined 31%, trailing the All Ordinaries Index (ASX: XAO), which is flat over the same period.

View Original Announcement

The post Clinuvel Pharmaceuticals posts 10th consecutive profit and maintains dividend appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Whitehaven, Endeavour, Neuren Pharmaceuticals shares
• Corporate Travel Management reports FY25 and 1HY26 earnings
• Clarity Pharmaceuticals FY26 earnings: Revenue jumps, losses widen as clinical pipeline progresses
• Why is the ASX 200 falling to a 4-day low today?
• Do leading brokers rate Woolworths shares as a buy following its results?

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 summary of the company announcement. 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.