AGL Energy Ltd (ASX: AGL), Cochlear Ltd (ASX: COH), and WiseTech Global Ltd (ASX: WTC) shares have all slumped lower over the past month, likely due to macroeconomic headwinds, weaker energy prices, and shifts in investor sentiment.

Here’s the latest out of the ASX 200 shares, and what brokers expect next.

Brokers rate AGL shares as a SELL

AGL shares are down around 0.1% to $8.31 at the time of writing on Wednesday morning. The ASX energy shares are now down around 4% over the past month and 11% lower year to date.

Over the past month, AGL shares have come under pressure from softer wholesale electricity prices and government regulation changes have also added a layer of uncertainty.

Mild weather, higher renewable energy generation, and battery storage growth are pushing wholesale electricity prices lower and reducing high-price spikes.

At the same time, the government is trying to push for lower costs by introducing price caps and limiting price increases. This could put pressure on AGL’s margins going forward.

Brokers are mostly bearish on the outlook for the power company going forward. Market Index data shows the majority of brokers have a sell rating on AGL shares, and the $9.70 average target price implies a downside of around 16%, at the time of writing.

Brokers rate Cochlear shares as a HOLD

Cochlear shares have also slipped further into the red on Wednesday morning. At the time of writing, the shares are down around 0.2% to $129.99 each. The shares are down 7% over the past month and 50% lower year to date.

The shares fell around 14% in late September after the company announced to the ASX that it had received a class action claim filed against it in the Supreme Court of Victoria. 

The claim is on behalf of persons who acquired interests in Cochlear shares between 15 August 2025 and 21 April 2026 (inclusive). It relates to Cochlear’s forecast of underlying net profit for FY26. 

Cochlear said it denies the allegations set out in the claim and will be defending the proceedings. But the news rattled investor confidence and the shares have continued falling ever since.

The update comes off the back of ongoing operational headwinds. Looking ahead to FY27, the ASX healthcare company expects low-single-digit constant currency revenue growth and an underlying net profit between $330 million and $350 million. 

According to Market Index data, the majority of brokers have a hold rating on Cochlear shares. The $126.24 average target price implies a downside of around 3% at the time of writing.

Brokers rate WiseTech shares as a BUY

WiseTech shares are also down on Wednesday morning. At the time of writing, the shares have fallen around 0.5% to $31.79 each. Over the past month WiseTech shares have tumbled 12%, and they’re also down 54% for the year-to-date.

There hasn’t been any price sensitive news out of the company over the past month to explain the latest selloff. 

But it’s been well-documented that the business has been smashed by a combination of headwinds over the past few months. Including an overall investor rotation away from tech shares, a series of regulatory investigations, and governance concerns. 

The company’s FY26 results announcement in August didn’t help confidence either. On the surface the earnings result was positive, and earnings were in line with analyst expectations. But its EBITDA figures came in short of market forecasts and investors rushed to sell up.

But it looks like the experts are still confident that WiseTech shares can bounce back over the next year. Market Index data shows all brokers have a strong buy rating on the shares. The $58.07 target price implies an upside of around 82% at the time of writing.

The post AGL, Cochlear, WiseTech shares: Buy, hold, sell appeared first on The Motley Fool Australia.

More reading

• How much passive income can I earn from a $950,000 superannuation balance?
• Here are the top 10 ASX 200 shares today
• 3 defensive ASX shares I’d buy in a market sell-off
• How much superannuation do I need to earn $56,000 per year in passive income?
• Tech shares shine while ASX 200 plunges to 4-month low

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

The Wesfarmers Ltd (ASX: WES) share price has come back sharply from its highs.

At around $75.86 on Wednesday, the shares are now roughly 20% below their 52-week peak.

That is a meaningful pullback for one of the ASX’s best-known blue chips. But has it gone far enough to create a top buying opportunity?

Here is how I see it.

Why I like Wesfarmers

Wesfarmers owns a collection of businesses that already have strong positions in their respective markets.

Bunnings remains the standout for me. Its scale, brand strength, and dominant position in home improvement give Wesfarmers a business that would be extremely difficult to replicate.

Kmart has also become an increasingly important part of the group, with its value-focused offering giving consumers a reason to keep shopping even when household budgets are under pressure.

Officeworks adds another established retail business, while Wesfarmers also has exposure to industrial and other operations.

That mix means the company is not relying on a single product or customer group to drive earnings.

I also like the way Wesfarmers has approached capital allocation over many years. Management has shown a willingness to invest where it sees attractive returns and move away from businesses where the opportunity becomes less compelling.

For a long-term investor, I think that discipline is a major part of what makes Wesfarmers stand out.

The earnings outlook still looks healthy

The recent weakness in the Wesfarmers share price would concern me more if analysts were also expecting profits to fall.

That is not currently the case. Wesfarmers generated earnings per share (EPS) of $2.53 in FY26. Consensus forecasts indicate EPS could increase to $2.72 in FY27, $2.90 in FY28, and $3.11 in FY29.

By FY29, earnings would be around 23% above the FY26 level, which would give the business a reasonable base from which to grow.

The dividend is also expected to move higher alongside earnings. Consensus estimates point to dividends per share of $2.34 in FY27, $2.49 in FY28, and $2.71 in FY29.

For me, that adds another layer to the investment case. Wesfarmers is not just relying on share price appreciation to generate returns.

Is the valuation attractive enough?

This is where I would keep expectations sensible. At $75.86, Wesfarmers is trading on a P/E ratio of around 28 times estimated FY27 earnings.

That is still a premium valuation, so I would not describe the shares as cheap simply because they have fallen 20%.

But the picture improves as earnings grow. By FY29, today’s price would represent roughly 24 times forecast earnings.

I think that is easier to justify for a business with the quality of Bunnings, the momentum of Kmart, and a strong long-term record of capital allocation.

Foolish takeaway

I think Wesfarmers is becoming a much easier share to buy at around $76.

The valuation still asks investors to pay for quality, so I would not expect a bargain-style return simply because the shares are 20% below their high.

But I think the combination of strong businesses, steady earnings growth, and rising dividends makes today’s price look increasingly reasonable.

For me, that is enough to put Wesfarmers back near the top of my ASX buy list.

The post Down 20%: Is the Wesfarmers share price a top buy? appeared first on The Motley Fool Australia.

More reading

• How much passive income can I earn from a $950,000 superannuation balance?
• How much passive income can I make from a $100,000 ASX share portfolio?
• 3 defensive ASX shares I’d buy in a market sell-off
• Buy, hold, sell: Goodman, Wesfarmers, BHP shares
• Wesfarmers vs Woolworths: Which ASX dividend share looks better this month?

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

Bell Potter has recently started coverage of Sports Entertainment Group Ltd (ASX: SEG), and the broker believes big things are in store for the company.

New acquisition to drive growth

Sports Entertainment Group operates the SEN sports radio network across Australia, and also has operations in digital media, live events, television syndication, and talent management.

Bell Potter said the company offers an attractive proposition for advertisers.

As they said:

SEG has curated a portfolio capable of delivering a whole-of-sport strategy targeting a valuable cohort for advertisers at the top of the funnel, then additional value as content filters through operating channels/segments; this operating model delivered an underlying EBITDA contribution margin of 20.4% in FY26 versus group underlying margin of 14.8%.

Sports Entertainment Group also recently finalised the takeover of New Zealand group MediaWorks for $107.6 million.

The company said when announcing the takeover that they expected the acquisition to be materially earnings per share accretive before synergies were factored in.

Synergies were estimated at about $5 million per year.

Sports Entertainment Group said MediaWorks was New Zealand’s number-one audio business, with about 59% audience share in the 25-to-54 demographic.

Sports Entertainment Group Chief Executive Officer Craig Hutchinson said after the deal was finalised:

Today marks a landmark moment for Sports Entertainment Group. Completing the acquisition of MediaWorks which is New Zealand’s #1 audio business transforms SEG into a truly scaled, trans-Tasman media group reaching more than 5 million listeners across Australia and New Zealand. This is exactly the kind of strategically important and value driving transaction we have been building toward. Both businesses are performing strongly into Q1 FY27. We are already seeing the benefits of the combination in our advertiser conversations and digital platform integration planning. The MediaWorks management team, led by CEO Wendy Palmer, has been outstanding throughout this process and we look forward to building something exceptional together.

Media shares looking cheap

Bell Potter said in its research note on the company that it expected the company to generate a compound annual growth rate of 13% in EBITDA from FY26 to FY29.

The company was expected to benefit from NZ$50 million in tax losses held by MediaWorks, as well as a healthy calendar of major sporting events over the medium term.

Bell Potter also expected the company to restart dividend payments at the end of FY28.

The broker has a price target of 45 cents on Sports Entertainment Group shares, compared to 26.5 cents currently.

If achieved, this would constitute a 69.8% return. The company is valued at $84.8 million.

The post Top broker says this ASX stock could rise 70% appeared first on The Motley Fool Australia.

More reading

• AGL, Cochlear, WiseTech shares: Buy, hold, sell
• Down 20%: Is the Wesfarmers share price a top buy?
• Are CBA shares still worth buying near $150?
• Droneshield vs NextDC: Which ASX tech share is the better buy?
• How much passive income can I earn from a $950,000 superannuation balance?

Motley Fool contributor Cameron England 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.