CSL Ltd (ASX: CSL) shares have staged an impressive recovery over the past three months, aided by a sharp jump this week following the company’s full-year results announcement.

The shares are still more than 25% down over a 12-month period however, begging the question, is there still more recovery to come?

It’s fair to say brokers are split on the question, with those surveyed having a wide range of views on where the shares will go over the next 12 months.

First let’s have a quick look at what CSL announced this week.

Steady results in reset year

The blood products company posted total revenue of US$15.8 billion, down 1%, and underlying net profit of US$3.1 billion, down 2%.

After significant one off costs and write downs were included, the company made a net loss of US$2.6 billion.

Interim Chief Executive Officer Gordon Naylor called FY26 a “reset” year for the company.

On the outlook, the company said it expected underlying net profit to grow by about 5% in FY27.

Wide range of views on CSL Shares

Among the brokers, UBS has the most bullish share price target for CSL at $181, compared to $163.51 late on Wednesday.

The broker said:

CSL has endured a challenging period that required significant restructuring to reduce costs and address the underperforming Vifor division. While more work remains, improving trends in the core plasma business suggest the worst is behind the group and that CSL is on track to return to at least market level growth. The separation of Seqirus is now complete, providing the incoming CEO with additional strategic flexibility.

Morgan Stanley also believes the price will appreciate, with a $172 price target.

They said:

On balance, we see the FY26 result and FY27 guidance as highlighting incremental improvement within CSL Behring, the key driver of group earnings growth over the medium to longer term. Our forecasts imply solid underlying NPATA/NPAT growth, supplemented by an ongoing buyback program.

Meanwhile, Bell Potter has a hold recommendation on CSL, with a price target of $150.

They said:

While the result today suggests the worst (by way of earnings declines) is in the rear-view for CSL, we find it difficult to justify a greater premium than is now being attributed relative to global biopharma peers.

And most bearish on CSL is Macquarie, which has a neutral rating and a price target of just $133.

They said:

Despite signs of stabilisation, we see ongoing uncertainty across core business segments (immunoglobulin, albumin) and medium-term competitive risks.

The post How much are CSL shares worth? 4 brokers have their say appeared first on The Motley Fool Australia.

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• CSL shares just had their best day in 20 years. What did I just miss?

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

The long-term buy and hold strategy in ASX shares has been a good one for investors for a long time.

A soft quarter becomes less important, and what matters instead is whether a business will still be comfortably growing its earnings in 2036.

Here are three ASX 200 companies I think comfortably pass that test.

Why I hold ASX shares for a decade

Time is one of the few advantages a retail investor has over a professional fund manager.

Nobody is grading my portfolio every quarter.

That freedom lets me own good businesses through the messy years when the market loses patience.

The three companies below each have a structural growth driver that should still be running long after this reporting season is forgotten.

Wesfarmers: the compounding machine

Wesfarmers Ltd (ASX: WES) may be the closest thing the local market has to a true compounder.

The company’s half-year result delivered revenue of $24.2 billion and net profit after tax of $1.6 billion, up 9.3%.

The interim dividend rose 7.4% to 102 cents per share.

Bunnings did the heavy lifting again, with higher sales across every product category, region and customer segment.

Managing director Rob Scott said:

The result reflects strong operational performance and disciplined execution of the Group’s strategies to create shareholder value.

The real appeal is capital allocation. Wesfarmers has repeatedly recycled cash out of mature businesses and into newer ones, moving from coal into lithium and health.

At today’s prices the stock is not cheap on a price-to-earnings ratio in the low 30s.

But I would rather pay up for a management team that has proven it can redeploy capital sensibly across multiple cycles.

The conglomerate reports its FY26 numbers on 27 August.

Goodman Group: an industrial landlord turned power broker

Goodman Group (ASX: GMG) has become one of the most important data centre developers in the world.

The company’s first-half result delivered $1.2 billion in operating profit. The group’s power bank also expanded from 5GW to 6GW.

By June 2026, more than $14 billion of its roughly $18 billion work in progress is expected to be in data centre projects.

Founder and CEO Greg Goodman said of the strategy:

Power, sites and capital are critical to being able to service demand and provide delivery certainty.

Goodman owns scarce, powered land in exactly the cities where artificial intelligence infrastructure needs to be built.

The units are down roughly 16% over the past year, which strikes me as an opportunity rather than a warning sign.

Goodman reports its FY26 result today.

CSL: a reset year with a long runway

CSL Ltd (ASX: CSL) just posted the ugliest headline number in its ASX history.

FY26 revenue slipped 1% to US$15.8 billion, and impairments of US$7.1 billion pushed the company to a US$2.6 billion statutory loss. Underlying NPATA still landed at US$3.1 billion.

Investors looked past the write-downs to FY27 guidance of roughly 5% underlying profit growth, comfortably ahead of the 2% consensus.

The shares surged 17.9% on results day.

Interim CEO Gordon Naylor framed the year as a clearing of the decks:

CSL is positioned for a return to sustainable growth, supported by solid plasma market fundamentals.

Plasma collection remains a true moat, because it takes years and enormous amounts of capital to build a competing network of donor centres.

On top of that, a US$1 billion buyback and a flat US$2.92 dividend suggest management believes the worst is now behind it.

The risks of buying these ASX shares today

None of this is free money.

Wesfarmers carries a premium valuation that leaves little room for a consumer downturn.

Goodman is making enormous capital commitments into a data centre market that could eventually oversupply.

Meanwhile, CSL still has to prove Vifor can stabilise after guiding to a roughly 25% revenue decline.

Foolish takeaway

I am not trying to pick the best performers of the next 12 months, but to own businesses that will be much larger in 2036 than they are today.

Wesfarmers, Goodman Group and CSL each have a credible path to that outcome.

For patient investors interested in long-term compounding, that is the bar these ASX shares need to clear.

The post 3 ASX 200 shares I’d buy for the next decade appeared first on The Motley Fool Australia.

More reading

• How much are CSL shares worth? 4 brokers have their say
• Here are the top 10 ASX 200 shares today
• CSL shares: 1 number that investors shouldn’t ignore
• These 3 ASX 200 shares look like classic Warren Buffett investments
• CSL shares rebound 79% from multi-year low: Here’s what brokers tip next

Motley Fool contributor Mark Verhoeven 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 CSL, Goodman Group, and Wesfarmers. The Motley Fool Australia has recommended CSL, Goodman Group, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

I’m sure most readers would love to have an annual passive income return of $40,000 in their superannuation.

For people already getting $40,000 per year in passive income, I reckon receiving an additional $40,000 per year would also be very welcome.

So, what would it take to unlock that river of dividends via superannuation? That’s what I’ll look at in this article.

Superannuation could be the best place to invest for passive income these days following taxation changes to trusts, residential property and capital gains tax.

Owning dividend-paying investments in superannuation means investors won’t lose as much of the return to tax as they would if the investment was in their own name. During the accumulation phase, superannuation has a lower tax rate for income than full-time working individuals, while in retirement the tax rate for income could be 0% for many retirees, depending on the size of their superannuation balance.

With that in mind, I think superannuation is an excellent place to unlock $40,000 per year.

Generating $40,000 of annual passive income

It’ll take a sizeable sum to unlock tens of thousands of dollars of dividends each year.

There’s no single dollar target required because it really depends on what sorts of investments Aussies choose and the dividend yield that comes with that.

For example, if an investor had all of their money in iShares S&P 500 ETF (ASX: IVV), you’d have a dividend yield of around 1%. With a dividend yield of 1%, someone would need a $4 million portfolio to make $40,000 per year in passive income.

The IVV ETF is not the choice I’d make for passive income, though it does have other benefits.

Instead, I’d focus on building a portfolio with a dividend yield of at least 4%, if not more.

With a 4% dividend yield, an investor could generate the desired passive income from a $1 million portfolio.

If an Australian’s portfolio had a 5% dividend yield, they would only need $800,000 for that income.

With a 6.5% dividend yield, an Australian’s portfolio goal would be close to $615,000.

As you can see, the higher the dividend yield, the smaller the portfolio needs to be to achieve the income target.

But, higher dividend yields may be riskier and/or deliver less capital growth for investors.

So, the choices investors make could greatly influence how reliable that passive income is. Not every investment with a high dividend yield may sustain its dividends over the longer term.

ASX dividend shares I’d consider for superannuation

If Australians are willing to accept a lower dividend yield, then it’s hard to look past Washington H. Soul Pattinson and Co. Ltd (ASX: SOL). That’s an investment conglomerate that owns a diversified portfolio of defensive assets, enabling it to pay a reliable and growing dividend. Its payout has grown every year since 1998, though the grossed-up dividend yield is only 3.3%, including franking credits, at the time of writing.

But, there are plenty of businesses with higher dividend yields that I think are compelling.

For example, Centuria Industrial REIT (ASX: CIP) and Dexus Industria REIT (ASX: DXI) are both real estate investment trusts (REITs) with dividend yields of between 5% and 7%. They provide exposure to industrial property, which is benefiting from compelling rental tailwinds.

I also like portfolio investments that can provide diversification and good dividend yields for superannuation investors.

Some of my favourite portfolio-based investments that come to mind include MFF Capital Investments Ltd (ASX: MFF), WCM Quality Global Growth Fund (ASX: WCMQ), WCM Global Growth Ltd (ASX: WQG), Future Generation Australia Ltd (ASX: FGX), Future Generation Global Ltd (ASX: FGG) and L1 Long Short Fund Ltd (ASX: LSF). All of these names have a track record of increasing payouts to shareholders, with dividend yields between 4% and 7%.

There are a number of other attractive ASX shares to consider, in my view, for passive income.

The post How much is needed in superannuation to target a $40,000 annual passive income? appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares look like classic Warren Buffett investments
• Is $2 million really the new superannuation target?
• I’d buy 36,519 shares of this ASX stock to aim for $1,000 a month of passive income
• Buy, hold, sell: Centuria Industrial REIT, Endeavour, Wildcat Resources shares
• How much do I need to retire on $100,000 a year at 60?

Motley Fool contributor Tristan Harrison has positions in Future Generation Australia, Future Generation Global, L1 Long Short Fund, Mff Capital Investments, Washington H. Soul Pattinson and Company Limited, Wcm Global Growth, and Wcm Quality Global Growth Fund. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited and iShares S&P 500 ETF. The Motley Fool Australia has positions in and has recommended Mff Capital Investments and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.