The team at Morgans has been running the rule over a number of ASX shares this week.

Let’s see if it is bullish, bearish, or something in between. Here’s what the broker is saying:

Pro Medicus Ltd (ASX: PME)

Morgans remains positive on this medical imaging technology company after reviewing its financial model. This week, the broker has reaffirmed its accumulate rating and $230.00 price target on Pro Medicus shares. It said:

We have identified an error in the previously published financial summary tables, where a number of figures did not pull through correctly from our underlying model. The error was presentational only. The underlying financial model is unchanged, with no impact on any forecast, assumption or valuation input. No change to our ACCUMULATE rating or A$230.00 DCF-based target price.

ResMed Inc. (ASX: RMD)

The broker has been looking at ResMed’s decision to sell one of its software businesses. Morgans supports the decision and believes ResMed remains well-placed for growth through to FY 2028.

In response, it has retained its buy rating with a $40.97 price target. It explains:

MatrixCare will be divested for US$490m cash (c9x earnings), crystallising a disappointing financial outcome (paid US$750m (25x) in 2018) for a business that expanded software capabilities but delivered modest earnings growth. Strategically, however, we believe the transaction makes sense, as it simplifies the portfolio and retains Brightree and MEDIFOX DAN, while exiting a lower-growth, non-core software business. Importantly, net proceeds will largely be returned to shareholders via an accelerated share repurchase (ASR), which should substantially offset earnings dilution from both the MatrixCare disposal and the recently completed Noctrix acquisition, while FY26 guidance has been reaffirmed. We make modest adjustments to FY26-28 forecasts, with our target price moving to A$40.97 (from A$41.72). BUY.

Worley Ltd (ASX: WOR)

Morgans isn’t feeling as positive on this engineering company. It thinks investors should probably keep their powder dry for the time being due to challenging trading conditions. As a result, it has put a hold rating and $10.80 price target on its shares. It said:

The late June trading update lifted the FY26 Middle East impost to $60m EBITA (from $30-40m) and quantified the 2H FX impact as $50m. Medium term, WOR should see some earnings support from Middle East repair activity and a broader uplift in global upstream hydrocarbon spending driven by renewed energy security concerns. However, consensus already embeds strong growth into FY27 (Visible Alpha EBITA +12% YoY) which is well above industry forecast growth rates. With capex expectations continuing to soften in the key Energy end-market and the order book likely to roll over at the FY26 result, we retain our conservative view. We reduce our EBITA forecasts by 8-9% across our forecast period and cut our target price to $10.80 (from $11.80). HOLD maintained.

The post Buy, hold, sell: Pro Medicus, Worley, and ResMed shares appeared first on The Motley Fool Australia.

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

A 10-year investment period changes the way I look at ASX shares.

I am less interested in what might move next month and more interested in whether the business can become much larger, stronger, or more valuable over time.

The three ASX 300 shares below all look capable of doing that, in my opinion.

Catapult Sports Ltd (ASX: CAT)

Catapult Sports is one of the more interesting growth shares on the ASX.

The company provides technology used by elite sports teams to track athlete performance, manage workload, analyse video, and improve decision-making.

That may sound niche, but I think the long-term opportunity is attractive.

Professional sport keeps becoming more data-driven. Clubs and leagues are spending more on tools that can help them reduce injuries, improve training, support coaching decisions, and find small performance advantages.

What I like about Catapult Sports is that its products can become part of the way teams operate. Once performance staff, coaches, and athletes are using the platform, the relationship can become deeper and stickier over time.

This is still a growth business, so investors should expect some volatility. Catapult needs to keep converting its customer base and recurring revenue into stronger profits.

But over 10 years, I think the company has a genuine chance to become a much larger global sports technology business.

SiteMinder Ltd (ASX: SDR)

SiteMinder is another ASX 300 share I would be happy to buy and hold.

The company provides software for hotels, helping them manage bookings, distribution channels, direct sales, payments, and online visibility.

I like this business because it sits behind a problem that hotel operators face every day.

Hotels need to sell rooms across multiple platforms, manage pricing, reduce friction, and compete for guests in a digital travel market. That can be difficult, especially for smaller and independent operators. SiteMinder gives hotels the tools to handle more of that complexity in one place.

The travel sector will always have cycles. Weak consumer spending, economic slowdowns, and global shocks can affect hotel demand.

But the long-term shift toward digital hotel commerce looks hard to reverse. I think more accommodation providers will need better technology to compete.

And if SiteMinder keeps expanding its platform and improving monetisation, I think it could be a rewarding 10-year holding.

Bega Cheese Ltd (ASX: BGA)

Bega Cheese is a very different type of ASX 300 share.

It is tied to food, dairy, branded products, and everyday consumer demand. That gives it a more defensive feel than many smaller growth shares.

What interests me is that the Vegemite owner appears to have a clearer earnings improvement pathway.

Its FY26 EBITDA guidance is $222 million to $227 million. Looking further out, the company has outlined an FY31 EBITDA target of more than $310 million.

That growth is expected to be supported by investment in areas such as milk-based beverages, yoghurt, and Tatura cream cheese capability.

There are still things to watch, including input costs, supermarket pricing pressure, execution, and competition.

But if management can deliver on its targets, Bega could look like a much stronger business in 10 years.

Foolish takeaway

I think these are the kinds of ASX 300 shares that can reward investors who are willing to look beyond the next earnings update.

Each business still has plenty to prove, which is why I would not treat any of them as risk-free blue-chip holdings. But that is also where the opportunity sits.

Catapult, SiteMinder, and Bega Cheese all have clear ways to become better businesses over time, whether through deeper customer relationships, stronger platforms, improved efficiency, or expansion into higher-value areas.

For a 10-year holding period, that is what I want to see. The share price may not reward investors evenly along the way, but I think the long-term direction looks attractive.

The post 3 ASX 300 shares I would buy and hold for 10 years appeared first on The Motley Fool Australia.

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

Evolution Mining Ltd (ASX: EVN) shares had a tough session on Thursday.

The gold miner’s shares ended the day almost 4% lower at $11.34 after investors reacted negatively to its fourth-quarter update.

While this is disappointing, Bell Potter thinks it could have created a buying opportunity for investors.

What is the broker saying?

Bell Potter was pleased with the company’s update despite production coming in softer than expected. It commented:

EVN released its June quarter 2026 production and cost report which, in our view, was a solid final quarter from EVN and was its second-best quarter of FY26. While both gold and copper production came in below our forecasts, Ernest Henry returned to full production following the weak March quarter and delivered its best quarterly performance of FY26. For the June quarter, group production was 179.7koz gold and 18.8kt copper (vs BPe 189.0koz gold and 19.6kt copper). 

The broker also highlights that the ASX gold stock has released part of its guidance for FY 2027, revealing that its costs are expected to rise and its investments will increase. However, it is comfortable with this. It said:

EVN released high-level elements of FY27 guidance. Overall, it pointed to steady production, but higher sustaining capital, higher AISC on general cost inflation and higher CAPEX on growth projects. It also flagged increased spending on exploration and on life-of-mine studies. While higher than our prior forecasts, we are comfortable the organic investment options are lower risk and higher returning than M&A in the current market. EVN has an excellent track record on this front, where returns on invested capital at Cowal, Ernest Henry and Mungari have been high.

Should you buy Evolution Mining shares?

According to the note, Bell Potter has retained its buy rating on Evolution Mining shares with a trimmed price target of $15.10 (from $16.45).

Based on its current share price, this implies potential upside of 33% for investors over the next 12 months.

In addition, Bell Potter is forecasting an attractive 4.4% dividend yield in FY 2027. This boosts the total potential return beyond 37%.

Commenting on its investment thesis, the broker said:

EPS changes on this update are -6% for FY26, -15% for FY27 and -4% for FY28. We have trimmed our production forecasts and increased our AISC forecasts in line with initial guidance for FY27. We have also lifted our capital expenditure assumptions in line with the outlook. As a result, we also trim our dividend forecasts on the lower free cash flow. 

EVN offers fully unhedged gold and copper exposure via a portfolio of high quality, long-life assets in Tier 1 jurisdictions, overseen by a high-quality management team. EVN has stated its intention to pass growing free cash flows on to shareholders.

The post Could Evolution Mining shares rise 33%? appeared first on The Motley Fool Australia.

More reading

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• 5 things to watch on the ASX 200 on Friday

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 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.