WiseTech Global Ltd (ASX: WTC) shares have slumped further into the red in Thursday lunchtime trade.

At the time of writing, the shares are down around 0.2% to $34.58 a piece, extending yesterday’s losses. On Wednesday afternoon, the ASX tech shares closed around 8% lower.

The shares have recovered around 20% from a five-year low in late-June, but the recovery hasn’t been sustained and is nowhere near enough to recoup losses shed over the past year.

For the year to date, WiseTech shares are still down around 50%, and they’re almost 70% lower than this time last year.

Why are WiseTech shares struggling to rebound?

WiseTech shares have suffered a steep, sustained price decline over the past 12 months. The decrease has mostly been driven by a tech-sector-wide sell-off and an investor rotation to more stable assets amid global volatility earlier this year. 

The company recently faced headwinds following media reports that the Australian Federal Police is investigating founder Richard White over alleged trafficking matters. The matters relate to a former cleaner at WiseTech.

It has been claimed that White exploited a former cleaner’s immigration status and financial position and provided false information on a visa application. 

The company responded and said that the alleged investigation relates to Richard White in a personal capacity. It added that there is no suggestion in this media commentary of an investigation into WiseTech.

But it hasn’t stopped investors rushing to the exits.

The question now is, how low can WiseTech shares go?

Here’s what the experts think.

Broker forecasts for the ASX tech stock this year

WiseTech shares have suffered a continual tumble this year, but if broker forecasts are anything to go by, the end should be in sight.

Market Index shows that the majority of brokers (seven out of eight) have a buy rating on the shares. The average $72.80 target price implies a potential 111% upside over the next 12 months, at the time of writing.

TradingView data also shows potential for a strong upside ahead. Out of 15 analysts, 12 have a buy or strong buy rating on WiseTech shares. Another three have a hold rating. 

Their average target price is a little lower at $65.60, but that still implies a potential 90% upside at the time of writing. In fact, interestingly, the range between the minimum and maximum target price is huge, but they all agree there will be some element of upside ahead.

The more bullish analysts are tipping an enormous 248% upside to a maximum target price of $120.60. Even the minimum $37.89 target price implies a potential 10% upside at the time of writing.

Bell Potter is one broker who is optimistic about the shares. The broker has a buy rating and a $71.75 target price on the shares.

Analysts are clearly very optimistic about the outlook for WiseTech shares. But I think that the latest sell-off shows that investors are still nervous that the company can deliver.

Even so, WiseTech has a strong competitive advantage in the global logistics industry. I think the company’s future hinges primarily on its FY26 results. If the company manages to reach or exceed its upgraded guidance, I think we’ll see a turnaround in investor sentiment.

The post How low could WiseTech shares go? appeared first on The Motley Fool Australia.

More reading

• Why the WiseTech share price is sinking 7% today
• 2 ASX shares tipped to grow 50% or more in the next 12 months
• These ASX tech shares crashed hard. Could they double from here?
• Here are the top 10 ASX 200 shares today
• WiseTech shares surge 10% as Richard White steps back from chair role

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 WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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 0.7% to 8,726.2 points on Thursday.

With a new financial year now underway, perhaps you are looking for some fresh investment ideas.

Morgan Stanley reckons we shouldn’t go near these ASX 200 shares for now.

Here are five stocks with sell ratings from the broker at the start of FY27.

Fortescue Ltd (ASX: FMG)

The Fortescue share price is $18.30, down 0.5% today.

The ASX 200 mining share has risen 13% over 12 months.

Morgan Stanley reiterated its sell rating on Fortescue shares today.

The broker cut its 12-month price target from $18.85 to $17.25.

This implies a potential 5% downside ahead.

Westpac Banking Corp (ASX: WBC)

The Westpac share price is $36.09, down 0.4% today.

The ASX 200 bank share has risen 7.1% over the past year.

Morgan Stanley reiterated its sell rating on Westpac shares with a $31.50 target yesterday.

This implies a potential capital decline of 13% ahead.

Deterra Royalties Ltd (ASX: DRR)

The Deterra Royalties share price is $4.39, down 2.1% today.

The ASX 200 materials share has risen 12% over 12 months.

Deterra has a portfolio of 14 royalties and royalty-like offtake assets in seven nations.

It is invested in iron ore, lithium, mineral sands, copper, molybdenum, and gold.

Mining royalties are agreements in which a third party provides financing to a miner in exchange for a portion of future revenues or production.

Morgan Stanley downgraded the stock to a sell rating today.

The broker shaved its 12-month price target from $4.45 to $3.95.

This suggests a potential 10% downside ahead.

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price is $167.10, down 0.6% today.

CBA shares have dropped 6.6% over the past 12 months.

Morgan Stanley maintained its sell rating on CBA shares with a $125 target this week.

This suggests a potential 25% downside for FY27.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is $38.98, down 1.6% today and down 0.8% over 12 months.

Morgan Stanley kept its sell rating on NAB shares with a $34.50 target this week.

This implies an 11% downside from here.

The post Dump ’em! Morgan Stanley slaps sell ratings on 5 ASX 200 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 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.

S&P/ASX 200 Index (ASX: XJO) shares are down 0.5% to 8,737.7 points on Thursday.

Brokers have reduced their ratings on many ASX 200 shares this week.

Let’s take a look at their new ratings and 12-month share price targets.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $157.90, down 3.6% today.

Over the past 12 months, this ASX 200 mining share has climbed 47%.

Morgan Stanley downgraded Rio Tinto shares to a sell rating today.

The broker has a 12-month price target of $149.

This implies a potential 5% downside ahead.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is $10.15, down 3.6% today.

Magellan was one of the top 5 ASX 200 financial shares for capital growth in FY26, rising 13%.

The highlight of the year was Magellan’s proposed merger with boutique investment bank, Barrenjoey Capital Partners.

Magellan and Barrenjoey completed the merger on 1 July. 

Morgans downgraded Magellan shares to a hold rating on Monday.

The broker lifted its 12-month price target slightly from $11.19 to $11.29.

This implies a potential 11% upside ahead.

Magellan will ask shareholders to vote on a company rebrand to Barrenjoey Group at the AGM in October.

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is $5.48, up 0.2% today.

This ASX 200 consumer discretionary share has risen 2.1% over the past year.

Citi downgraded the stock to a sell rating with a $5 target this week.

This indicates a possible 8% decline ahead.

Transurban Group (ASX: TCL)

The Transurban share price is $14.69, up 0.2% today.

This ASX 200 industrials share has risen 9.5% over 12 months.

UBS downgraded Transurban shares to a hold rating with a $14.50 target.

This suggests a potential 1% downside ahead.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is $11.01, down 3.7% today.

This ASX 200 gold share has stormed 51% higher over the past year.

Macquarie downgraded Evolution shares to a hold rating yesterday.

The broker lowered its 12-month price target from $13 to $12.

This suggests potential capital growth of 8% over the next year. 

Worley Ltd (ASX: WOR)

The Worley share price is $10.78, up 0.5% today.

This ASX 200 industrials share has tumbled 18% over the past 12 months.

Ord Minnett downgraded Worley shares from accumulate to hold with a $12.70 target on Wednesday.

This still implies a potential 18% upside ahead.

The broker said:

There remains considerable uncertainty over short-term earnings for Worley and its peers.

More broadly, we highlight the change in Worley’s business mix, with a modest shift to engineering, procurement and construction (EPC) work, i.e. larger developments and responsibility for full project delivery, a business segment that is higher risk than traditional consultancy and advisory.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo share price is 89 cents, up 0.2% today.

Judo shares were sold off in June after the bank downgraded its profit guidance.

Ord Minnett downgraded Judo shares from a buy to a hold rating yesterday.

The broker slashed its 12-month price target from $2.40 to $1.60.

This implies a potential 80% upside ahead.

Ord Minnett commented:

We also cut our recommendation on Judo to Hold from Buy despite the apparent value on offer, given uncertainty around the company’s processes and the time it will take for management to rebuild market confidence.

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is $209.07, down 1.4% today.

Pro Medicus shares hit a 52-week low of $107.75 on 24 February. Since then, the ASX 200 healthcare share has ripped 94% higher.

Jefferies thinks the stock has overshot. The broker downgraded Pro Medicus shares to a hold rating yesterday.

The broker lifted its share price target substantially from $147 to $192.60.

But with Pro Medicus shares already trading well above that, the broker recommends investors sit tight.

Suncorp Group Ltd (ASX: SUN)

The Suncorp share price is $18.79, down 1% today.

This ASX 200 financial share has fallen 9.7% over 12 months.

Jarden downgraded Suncorp shares to a hold rating on Monday.

The broker raised its 12-month price target slightly from $19.10 to $19.60.

This implies a potential 4% upside ahead.

The post 9 ASX 200 shares downgraded by analysts this week appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares with 50% to 100% upside in FY27
• How to build $60,000 in annual passive income from ASX dividend shares
• China’s CPI and PPI data drops today. Here is the potential impact for these ASX shares
• I’d buy these 5 ASX dividend investments for retirement income
• 5 top ASX dividend shares to buy in July

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen has positions in Magellan Financial Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Jefferies Financial Group, Macquarie Group, The Lottery Corporation, and Transurban Group. 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 Transurban Group. The Motley Fool Australia has recommended Macquarie Group, Pro Medicus, and The Lottery Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.