S&P/ASX 200 Index (ASX: XJO) shares are down 0.6% to 8,677.3 points on Thursday.

Among the 11 market sectors of the ASX 200, consumer staples is in the lead today, up 1.3%.

The materials and mining sector is the laggard, down 1.6%.

Morgans has released some new notes and ratings for investors to consider.

Let’s take a look.

Megaport Ltd (ASX: MP1)

The Megaport share price is $19.76, down 6.2% today and up 33% over 12 months. 

Morgans has a buy rating and 12-month price target of $27 on this ASX 200 tech share. 

This implies a potential 37% upside ahead.

The broker said: 

MP1 recently raised its FY27 EBITDA guidance by 25%.

The compute and network businesses continue to deliver above expectations and MP1 announced three new AI infrastructure contracts with a Total Contract Value of ~A$1bn.

Collectively these set a glide path for annualised EBITDA in excess of $850m.

We upgrade our EPS forecasts materially. Our Target Price lifts to A$27 per share and we retain our BUY recommendation.

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is $6.40, up 0.4% today and down 12% over 12 months. 

Morgans has a hold rating and 12-month price target of $6.40 on this ASX 200 financial share.

This suggests the bank stock is fully valued.

The broker said: 

We expect a mid-single digit decline in 2H26 earnings (ex notable costs).

Target price reduced to $6.40/sh, as the outlook for ROTE improvement moderates.

At current prices, total potential TSR is c.4.6% (including c.6.3% cash yield).

Hence, we moderate our BOQ rating from ACCUMULATE to HOLD.

Orica Ltd (ASX: ORI)

The Orica share price is $22.85, down 1.9% today and up 7% over 12 months. 

Morgans has an accumulate rating and 12-month price target of $26.52 on this ASX 200 materials share. 

This implies a potential 16% upside ahead.

The broker said: 

ORI has updated the market on its US AN sourcing, non-core land sale, recent acquisitions, cost out program and FY26 business performance. The important point is that the broader business continues to perform strongly, in line with its expectations.

ORI will report its FY26 result on 12 November.

We have trimmed our FY27 NPAT forecast by 3.6% reflecting increased AN sourcing costs in the US, more gradual recovery in Indonesia coal production, plant turnarounds and higher interest costs given the Deer Park sale isn’t going through.

We move to an ACCUMULATE rating with a revised price target of A$26.52.

The post Buy, hold, sell: Orica, Bank of Queensland, Megaport shares appeared first on The Motley Fool Australia.

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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 Megaport. 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.

Lovisa Holdings Ltd (ASX: LOV) shares have crashed into the red in Thursday lunchtime trade.

At the time of writing, the Australian jewellery chain’s shares are down just over 9% to $22.45 a piece.

It’s been a pretty rocky road for the company’s share price over the past year. After suffering a strong sell-off in November last year, and again in February, the ASX consumer discretionary shares have experienced several peaks and troughs.

Over the past 12 months, the shares have fluctuated anywhere between $19.30 and $39.33 each. They’re now down around 23% for the year to date, and 39% lower than this time last year.

Why are Lovisa shares crashing today?

Today’s share price decline appears to be the result of the company’s latest update to the ASX.

Ahead of the market open this morning, Lovisa announced a change to its senior executive lineup.

It said that its group chief financial officer, Chris Lauder, has resigned. He will serve his six-month notice period, and his final day will be Wednesday, the 7th April 2027.

The company confirmed that he is fully supporting an orderly transition and said that it is in search of a successor.

“Lovisa has a very strong global finance team, and the Board will appoint a successor following a global search process,” the company said in its ASX statement.

“A further announcement will be made when a successor is appointed.”

It’s not uncommon for investors to sell up their shares in an ASX company during leadership changes. There are often concerns about increased uncertainty about the company’s near-term direction, and the risk that the changes suggest hidden problems.

The announcement follows a strong FY26 result in August

Today’s news follows the company’s FY26 results, which it posted to the ASX in late August. 

Lovisa confirmed its total revenue increased 17.6% to $938.8 million, while comparable-store sales rose 2% for the year.

The company saw a 14.1% increase in its EBIT, and NPAT climbed 10.7%. The company generated a 21% increase in its operating cash flow, and shareholders also received a boost. Its 86-cent per share full-year dividend represents an 11.7% increase from FY25.

Investors were clearly happy with the result, and the share price spiked to a six-month high soon after the announcement. 

The peak didn’t last for long, though, and the shares soon tumbled downwards again.

What do the experts think of Lovisa shares?

Market Index data shows that, at the time of writing, the majority of brokers have a buy rating on the shares. The $29.09 average target price implies an upside of around 28%, at the time of writing.

The team at Morgans said Lovisa’s FY26 results were strong, with net profit coming in ahead of consensus estimates. They added that Lovisa has ambitious expansion plans, with significant white space for continued network expansion. 

Morgans added that ongoing investment will be needed to expand Lovisa’s multinational network, but the company has the capacity to fund this, and that it expects strong returns. 

Morgans has an accumulate rating and a $31 target price.

Morgan Stanley is more bullish. The broker has a $33.50 target price and said it sees a compelling bull case for the stock based on expansion in the total addressable market, extended store roll-outs, and an increasingly diversified business.

The post Why are Lovisa shares crashing 9% today? appeared first on The Motley Fool Australia.

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

S&P/ASX 200 Index (ASX: XJO) shares are down 0.5% to 8,681 points on Thursday.

Among the 11 market sectors of the ASX 200, consumer staples is in the lead today, up 1.4%.

The materials and mining sector is the laggard, down 2.3%.

Let’s check out some new ratings from the experts.

IDP Education Ltd (ASX: IEL)

The IDP Education share price is $2.12, up 1.9% today. 

Ord Minnett has a buy rating on this ASX 200 consumer discretionary share. 

In a new note, the broker said: 

IDP Education Limited provides student placement services in Asia, Australasia, and internationally. 

IDP Education (IDP) disclosed that it has rejected two unsolicited and non-binding takeover approaches from Blackstone Singapore Pte Ltd, which is part of the global private equity firm Blackstone Inc. The latest proposal offered $2.50 per share in cash.

On our numbers, the bid equates to an FY27 price-to-earnings multiple of approximately 13.2x, but this is on depressed earnings.

Unsurprisingly, IDP’s Board has unanimously rejected the proposal, stating that it “substantially undervalues IDP and is not in the best interest of shareholders”.

The Directors highlighted that it considers the approach highly opportunistic, given the international education sector is facing significant headwinds (we point to policy uncertainty and weaker student visa issuance across key markets), which have temporarily depressed valuations.

Further, it does not factor in the upside from IDP’s multi-year transformation program.

Macmahon Holdings Ltd (ASX: MAH)

The Macmahon Holdings share price is $1.14, up 2% today. 

Ord Minnett has a hold rating on this ASX 200 materials share. 

The broker commented: 

Macmahon Holdings Limited engages in the process of surface mining, underground mining and mining support, and civil infrastructure services to mining companies in Australia and Southeast Asia.

Macmahon Holdings (MAH) has agreed to acquire Aspect Engineering Solutions in a transaction valued at an enterprise value to earnings before interest and tax (EV/EBIT) multiple of approximately 5–6x, depending on the final earn-out.

The deal will be funded from existing cash reserves and includes an upfront payment of $30 million, annual retention payments of $6million over five years, and performance-based earn-outs of $15–30 million.

MAH can choose to settle the retention and earn-out payments in shares rather than cash.

The acquisition looks financially attractive.

After incorporating the acquisition costs and earnings contribution from Aspect into our numbers, our EPS estimates are revised higher by 3% in FY27 and 6% in FY28. Our target price increases to $1.10 from $1.00 following the positive earnings changes.

Transurban Group (ASX: TCL)

The Transurban share price is steady at $12.96 on Thursday.

Morgans has a trim rating on this ASX 200 industrials share. 

The broker said: 

TCL has increased its exposure to the Sydney market via acquisition of additional equity stakes in key tollroads.

While we view positively the deployment by TCL of capital into markets and assets that it knows well, we struggle to see the cashflow benefit for investors at the acquisition price paid particularly in the context of the higher rate environment.

Target price -50 cps to $12.03/s as a result of the forecast update and adjusting our DCF discount rate higher to part-risk for the rise in risk-free rates.

We retain a TRIM rating at current prices, given potential TSR of -3%.

The post Buy, hold, sell: IDP Education, Macmahon Holdings, Transurban shares appeared first on The Motley Fool Australia.

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