CSL Ltd (ASX: CSL) shares remain one of the most debated blue-chip stocks on the ASX.

The biotechnology giant is trading around $112.04, which is a long way below the levels investors were used to seeing in past years. That alone makes the stock interesting, but it does not make the investment case simple.

Ord Minnett has recently reviewed its CSL model and maintained a hold recommendation on the stock. The broker’s concern centres heavily on the Vifor nephrology business and the uncertainty around CSL’s earnings outlook as management works to reset the company.

So, is the broker right to stay cautious?

The cautious case

Ord Minnett’s concern is not hard to understand.

CSL is best known for its Behring plasma products business, but the group also includes Vifor and Seqirus. Vifor is exposed to nephrology therapies, while Seqirus operates in vaccines.

The broker believes Vifor’s challenges are being underestimated by the broader market. It has highlighted the loss of exclusivity rights for Injectefer, which is used to treat iron deficiency anaemia, as generic versions enter the US market. It also points to Velphoro, a therapy used by chronic kidney disease patients on dialysis, being removed from the US federal government’s transitional drug add-on payment adjustment program from January 2027.

Ord Minnett expects these issues to pressure pricing and has assumed a fall in Vifor revenue and profit of US$355 million in FY27.

That is not a minor concern.

The broker’s Vifor revenue and operating profit forecasts for FY27 sit below consensus estimates. It also expects Vifor operating profit across FY27 to FY29 to be more than 10% below market expectations.

That cautious view, combined with what it sees as a middling outlook for Seqirus, has led Ord Minnett to cut its CSL group earnings per share estimates for FY27 and FY28.

Why I see it differently

I understand the hold rating. CSL is dealing with genuine moving parts, and investors should not pretend the reset is already complete.

But I think the more interesting question is whether the current CSL share price is already giving patient investors a reasonable chance to be rewarded.

In my view, it is.

CSL is not just Vifor. The Behring division remains the core of the business, and Ord Minnett itself appears to see a modestly brighter outlook for this key plasma products operation.

That is important because plasma is the heart of CSL’s long-term investment case.

This is a global business with scale, specialist manufacturing capability, regulatory experience, collection infrastructure, and deep relationships across healthcare markets. Those strengths are difficult to recreate.

I also think the market’s view of CSL has changed dramatically. Investors are no longer treating it like a flawless compounder. Expectations are lower, the valuation has reset, and management has a clearer challenge: rebuild confidence through execution.

That does not need to happen quickly to make the stock attractive. It needs to happen steadily.

A patient buy

I would rate CSL shares as a buy for patient investors.

The word patient is important. Vifor’s challenges, Seqirus’ mixed outlook, margin pressure, and management’s broader reset all mean the recovery case may take time.

But I think the share price already reflects a lot of disappointment. CSL still has a globally important plasma business, exposure to healthcare demand, and the potential to improve earnings over time if management executes well.

Ord Minnett may be right to flag the risks in Vifor. I just think the hold rating is too cautious when looking at the broader business and the current valuation.

Foolish takeaway

CSL is no longer the easy blue-chip story it once seemed to be. Investors now have to weigh a high-quality global healthcare franchise against real earnings uncertainty and a business reset that still needs proof.

That tension is exactly why the opportunity exists.

I would not ignore Ord Minnett’s concerns. Vifor could remain a drag, and CSL has work to do. But for investors willing to look beyond the next couple of reporting periods, I think the balance of risk and reward now looks attractive.

CSL shares may require patience, but I think they are worth buying at current levels.

The post Is this broker right about CSL shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Income can come from many different places on the ASX.

This variety can be useful for investors who want to build a passive income stream over many years.

With that in mind, here are three ASX dividend shares from different parts of the market that could be worth buying and holding.

Flight Centre Travel Group Ltd (ASX: FLT)

The first ASX dividend share to look at is Flight Centre.

It gives investors exposure to the travel market, operating across leisure travel, corporate travel, and online travel services.

Its income profile is likely to be more cyclical than many defensive dividend shares.

That is because travel demand can move with economic conditions, airfares, consumer budgets, and business confidence. But this same cyclicality can create strong cash flow when conditions are supportive.

For investors prepared to accept some variability in dividends, Flight Centre could offer income and recovery potential over the long term.

Rural Funds Group (ASX: RFF)

Another ASX dividend share to consider is Rural Funds.

It gives investors access to Australian agriculture through a portfolio of farming assets and water-linked properties.

This is a different kind of income investment. Rather than relying directly on supermarket sales, bank profits, or consumer spending, Rural Funds generates rental income from agricultural assets leased to operators.

The company’s assets sit in an essential part of the economy. Food production, agricultural land, and water rights all have long-term relevance, even though the sector can still be affected by weather, commodity prices, debt costs, and asset valuations.

This could make Rural Funds an interesting option for income investors wanting something outside the usual ASX dividend names.

Transurban Group (ASX: TCL)

A third ASX dividend share to look at is Transurban. It owns toll roads in major cities across Australia and North America. This includes CityLink in Melbourne, Cross City Tunnel in Sydney, and AirportlinkM7 in Brisbane.

These roads are used by commuters, freight operators, businesses, airport travellers, and households moving across key transport corridors. That gives the company exposure to urban mobility.

As cities grow and congestion remains a challenge, well-located roads can become highly valuable assets. Transurban’s roads can save drivers time, provide access to important routes, and support the movement of goods and people.

As a result, for investors wanting income from infrastructure, Transurban could be a strong ASX dividend share to buy and hold for years.

The post 3 ASX dividend shares to buy and hold for years of income appeared first on The Motley Fool Australia.

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

ASX tech stock Catapult Sports Ltd (ASX: CAT) continued its painful slide on Tuesday, falling 6% to $2.77 and hitting a fresh 52-week low.

The decline extends a difficult period for shareholders. The ASX tech stock is down 26% over the past month, has lost 33% in 2026, and has fallen 51% over the past year.

After such a dramatic sell-off, investors may be wondering whether things can get any worse.

Let’s take a closer look at what’s happening and what analysts think comes next.

Why are Catapult shares under pressure?

The recent weakness of the ASX tech stock reflects a combination of broader market sentiment and concerns around growth stock valuations.

Investors have become increasingly selective when assessing technology companies, particularly those trading on future growth expectations rather than near-term earnings. That shift has weighed heavily on sentiment across parts of the technology sector, including Catapult shares.

The company has also been caught up in broader risk-off trading, with investors rotating away from smaller growth companies despite continued operational progress.

As a result, the share price has continued trending lower even as the business expands its customer base and product offering.

Athlete performance technology

Catapult develops athlete performance and analytics technology used by professional sporting organisations around the world.

Its solutions allow coaches, sports scientists, and performance staff to monitor player workloads, track physical performance, reduce injury risks, and improve decision-making.

The company’s technology is deeply embedded across elite sport. Its products are used by teams in the AFL, NRL, Premier League, NFL, NBA, MLB, and international rugby competitions, among many others.

That broad customer footprint highlights one of the greatest strengths of this ASX tech stock.

Once teams integrate Catapult’s hardware, software, and historical performance data into their daily operations, switching to another provider becomes difficult and disruptive. This creates sticky customer relationships, recurring revenue streams, and a significant competitive moat.

What are the risks?

Despite its strong market position, the ASX tech stock still faces several risks.

The company remains heavily reliant on continuing to grow subscriptions and expand adoption of its products. Any slowdown in customer growth could affect investor confidence.

Like many technology businesses, Catapult also faces execution risk. Management must continue delivering product innovation while expanding internationally and maintaining customer retention.

Valuation expectations have also played a role in the recent sell-off of the ASX tech stock. Growth shares can experience significant share price volatility when market sentiment deteriorates, even when underlying business performance remains relatively solid.

What do analysts think?

Analysts remain surprisingly optimistic despite the sharp decline.

According to TradingView data, every analyst covering Catapult currently rates the ASX tech stock as either a buy or strong buy.

The average price target sits at $5.72 per share, implying upside of approximately 106% from current levels. The most bullish analyst forecast suggests the stock could climb as much as 193% over the next 12 months.

Morgans is among the more optimistic brokers. It currently has a buy rating and a $5.40 price target on the company. Based on the recent share price, that implies potential upside of almost 100%.

The post What next for this ASX tech stock after reaching new lows? appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther 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 Catapult Sports. The Motley Fool Australia has positions in and has recommended Catapult Sports. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.