The Telix Pharmaceuticals Ltd (ASX: TLX) share price is in focus today after announcing a merger with ITM Isotope Technologies Munich SE, a global leader in therapeutic radioisotopes. The deal could create a radiopharmaceutical powerhouse, with combined estimated 2026 revenue over US$1.3 billion and deeper supply chain security for Telix’s growing pipeline.

What did Telix Pharmaceuticals report?

• Strategic agreement to acquire 100% of ITM for US$1.65 billion upfront (cash-free/debt-free)
• Post-adjustments, ~US$1.25 billion in Telix shares to ITM shareholders, plus up to US$700 million in milestone payments
• Pro forma combined revenue projected at over US$1.3 billion for 2026
• ITM achieved US$273 million revenue in 2025, with a 40% CAGR from 2021–2025
• Combined group expected to generate positive EBITDA from 2027 onwards

What else do investors need to know?

The merger positions Telix as a vertically integrated leader, with capabilities across radioisotope production, global manufacturing, and therapeutic development. ITM brings expertise in commercial-scale isotope production, including lutetium-177, actinium-225, and terbium-161, and serves over 65 countries.

ITM’s late-stage pipeline includes ITM-11, a novel candidate for treating neuroendocrine tumours, which has completed a Phase 3 trial. This potentially accelerates Telix’s entry into established commercial markets and complements its existing precision medicine platform.

The transaction is subject to shareholder and regulatory approval, with closing expected by the end of FY2026. Following completion, Telix shareholders will own about 76.3% of the combined group, and ITM shareholders the remaining 23.7%.

What did Telix Pharmaceuticals management say?

Telix Managing Director and Group CEO, Dr. Christian Behrenbruch, said:

This merger positions Telix at the forefront of the consolidation that is occurring as the industry matures. ITM is the leader in radioisotope production, with deep scientific expertise and a track record of value-adding innovation. We have enjoyed a close working relationship with ITM for many years and there is strong management alignment for the rationale behind this transaction. By combining our complementary strengths, we will create a company with commercial scale, world-leading supply and the most exciting theranostic drug portfolio in the sector. Importantly, this combination further expands our late-stage therapeutic pipeline with two completed Phase 3 trials and deepens radioisotope security, while bringing together the mission-critical capabilities needed to deliver radiopharmaceutical treatments to patients around the world.

What’s next for Telix Pharmaceuticals?

Telix expects the merger to drive new growth opportunities, deepen its global supply chain, and enhance its ability to deliver innovative cancer therapies. The launch of ITM-11, if approved, could open up additional high-margin revenues in targeted radionuclide therapy markets.

Management anticipates further cost savings, manufacturing efficiencies, and synergy benefits post-merger. An extraordinary general meeting is planned for November 2026 to seek shareholder approval.

Telix Pharmaceuticals share price snapshot

Over the past 12 months, Telix shares have risen 19%, outpacing the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.

View Original Announcement

The post Telix Pharmaceuticals: ITM merger builds a sector leader appeared first on The Motley Fool Australia.

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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 positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. 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.

It has been a tough 12 months for ASX financials stock Regal Partners Ltd (ASX: RPL). 

The specialist alternative investment manager has seen its share price fall more than 30% year to date. 

However, a new report from Ord Minnett points to a major rebound over the next year. 

The company manages a range of investment strategies covering hedge funds, growth equity, real & natural assets and credit & royalties on behalf of institutions, family offices, charitable groups and private investors.

Not just a dividend stock 

In recent months, this ASX financials stock has been highlighted for its generous dividend yield – and for good reason. 

It currently offers a very healthy dividend yield of 11.1%, after more than doubling its net profit over the past financial year.

However, recent share price weakness now makes it an attractive growth option as well. 

According to Ord Minnett, it delivered a strong first-half FY26 result (1H26), though attention focused mainly on the announced transition to retirement of founder and portfolio manager Philip King. 

Mr King is responsible for approximately 16% of RPL’s funds under management (FUM), or $3.4 billion, and will remain in his current roles until at least 30 June 2027. The extended handover period should help support continuity. RPL declared a fully franked interim dividend of 12 cents per share (cps) which was double last year’s interim. Financially, the result was robust. Normalised net profit after tax reached $93 million (guidance was for at least $90 million), more than double the prior corresponding period, and 3% ahead of consensus.

Flows remain strong

Ord Minnett also highlighted the standout contributor during the most recent half was performance fees which came-in at $119 million. 

This was above guidance for at least $115 million, and significantly higher than the $42 million generated in the first-half of FY25. “Performance fees may moderate in the second-half of FY26 given the amount of FUM that is at, or within, 5% of its high-water mark, has fallen by $1.1 billion in the six months to 30 June 2026.

This has likely declined further in July given softer investment returns from a range of long/short strategies. Flows remain strong. Net inflows totalled $300 million in July, with additional inflows during August across credit and listed investment company products. This momentum has prompted us to lift our expectations for CY26 net inflows to $2.2 billion, ahead of management’s guidance of $2 billion.

Big upside for ASX financials stock

Based on this guidance, Ord Minnett slightly lowered its price target on this ASX financials stock. However, significant upside remains. 

The broker now has a price target of $4.90 (previously $5.40). 

We maintain a Buy recommendation. Despite the leadership transition risk, RPL is trading on an attractive FY27 price to earnings multiple of circa 8x, and on our numbers, offers around 14% per annum growth in EPS over FY26–29.

From current levels, this indicates 118% upside potential. 

The post Ord Minnett tips this ASX financials stock to double within the next 12 months  appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell 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.

Goodman Group vs Nextdc shares: Which ASX stock with AI exposure comes out on top?

If you’re on the hunt for ASX stocks with exposure to the booming demand for AI infrastructure, Goodman Group (ASX: GMG) and Nextdc Ltd (ASX: NXT) are both front-runners. But they’re very different plays: one is Australia’s leading industrial property trust, while the other is the country’s top home-grown data centre operator. Let’s break down their businesses, fundamentals, valuation, and recent price moves to help you decide where you might want to put your money.

The case for Goodman Group

Goodman Group is Australia’s largest real estate investment trust (REIT) and operates an integrated property business across 14 countries. It specialises in owning, developing and managing industrial and commercial properties—including logistics hubs, warehouses, and, increasingly, cutting-edge facilities geared towards cloud infrastructure and AI.

A few fundamentals stand out for Goodman Group:

• A hefty market capitalisation of $53.42 billion, putting it among the ASX heavyweights.
• A P/E ratio of 19.42, which looks reasonable for a global property group exposed to future tech trends.
• The dividend yield sits at 1.16% with unfranked payouts, and its dividends have held steady at $0.15 per half-year for several years running.

Goodman’s scale means it can win huge development projects—like new hyperscale data centres and logistics hubs—that directly benefit from AI’s ever-growing appetite for space, power and connectivity.

The case for Nextdc

Nextdc is the quintessential ASX data centre stock—with a core focus on building and operating state-of-the-art infrastructure tailored specifically to cloud, digital services, and, increasingly, AI workloads. Its flagship data centres are critical to the digital economy, providing secure, high-speed connections for both Aussie and global tech companies.

Three things jump off the page with Nextdc:

• It’s much smaller than Goodman, with a market cap of $8.40 billion—arguably a more ‘pure play’ on AI and cloud megatrends.
• The P/E ratio is a sky-high 93.36, reflecting hefty expectations for future growth rather than immediate profits.
• Nextdc pays no dividend, preferring to reinvest heavily into expanding its footprint and ramping up capacity to capture the next wave of AI and cloud demand.

If you’re backing the digital economy and big data, Nextdc gives you direct exposure to the backbone infrastructure that makes AI possible.

Valuation comparison

Here’s how these two stack up on key numbers:

Metric	Goodman Group	Nextdc
Market Cap	$53.42 billion	$8.40 billion
P/E Ratio	19.42	93.36
Dividend Yield	1.16% (unfranked)	0.00%
Earnings per Share	1.329	0.122
Year-to-Date Return	-16.20%	-7.65%

The clear contrasts? Goodman is much larger and stands out for its steady (if modest) dividend—though it’s unfranked. Nextdc is valued much more optimistically on earnings, as often happens with “growth at all costs” tech infrastructure stocks.

Recent share price performance

Let’s look at the past month: from 18 August to 17 September 2026.

Goodman Group’s shares started this window at $30.47 and finished at $26.00—a drop of about 14.7%. That’s consistent with its negative year-to-date return of -16.20%.

Nextdc began the period at $14.73 and ended at $11.06, marking a fall of about 24.9%. However, its year-to-date return is somewhat better at -7.65%, suggesting earlier 2026 gains have softened the blow.

So, while both have fallen in the short run, Goodman’s decline has been less severe over the recent month, but Nextdc has fared a bit better year-to-date.

Which is the better buy?

Here’s how I see it. Goodman Group looks like the safer, lower-multiple choice, offering big scale and a steady, if low, dividend. It’s exposed to data centre and AI-driven property demand, but as just one part of a broader real estate strategy. Its valuation looks reasonable, but recent price falls reflect market caution toward property and infrastructure assets.

Nextdc, on the other hand, is a genuine pure-play on AI and cloud infrastructure. It’s priced for high growth—with that towering P/E and no dividend—because investors expect surging demand to boost profits down the road. But it’s riskier: one slip in execution or a slower ramp-up in demand and that valuation could compress quickly.

If I had to choose today, my pick would be Nextdc. Despite a steeper recent correction, I think it offers the most upside for those seeking direct, higher-octane AI exposure, provided you can stomach short-term volatility. Goodman is a solid anchor for a more conservative portfolio, but if it’s AI infrastructure ‘oomph’ you’re after, I’d lean towards Nextdc

The post Goodman Group vs Nextdc: Which stock is the better buy today? appeared first on The Motley Fool Australia.

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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 positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Goodman Group. 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.