Author: openjargon

Recently trading for $158.69 apiece, Commonwealth Bank of Australia (ASX: CBA) shares have fallen 6.1% over the past 12 months.

For some context, the S&P/ASX 200 Index (ASX: XJO) has gained 1.4% over this same period.

Though we shouldn’t dismiss the two fully franked dividends the ASX 200 bank stock paid over the past year. CBA stock trades on a 3.2% fully franked trailing dividend yield.

But with economic headwinds brewing, Morgans’ Damien Nguyen expects CBA could continue to underperform the benchmark in the months ahead (courtesy of The Bull).

Should I sell CBA shares today?

“The CBA continues to deliver resilient earnings, strong capital levels and industry leading returns, reinforcing its position as Australia’s premier banking franchise,” Nguyen said.

He added:

However, the earnings growth outlook remains relatively modest as intense competition and margin pressure possibly weigh on profitability. Despite these headwinds, the stock trades at a significant premium to its peers and historical valuations.

Indeed, CBA shares trade on a price to earnings (P/E) ratio of around 24 times, the highest among the ASX 200 bank stocks.

Summarising his sell recommendation, Nguyen concluded, “With limited scope for earnings upgrades, we believe the share price leaves little room for disappointment.”

ASX 200 stock in energy transition crosshairs

Atop his sell recommendation for CBA shares, Nguyen also recommends selling ASX 200 energy infrastructure company APA Group (ASX: APA).

“This energy infrastructure business provides investors with stable, regulated cash flows and a defensive earnings profile,” he said.

“Total revenue was down 6.3% in full year 2026, but profit after tax was up 81.4%. Balance sheet leverage is significant, in our view, and funding costs can be a challenging headwind,” Nguyen added.

Summarising his sell recommendation on APA Group shares, he concluded:

The market is concerned that the shift away from gas may create uncertainty about future demand in the longer term. Although APA is pursuing energy transition opportunities, we believe these are unlikely to materially improve earnings in the near term. We believe investors can find better risk-adjusted opportunities elsewhere.

Also bearish on CBA shares

Sanlam Private Wealth’s Remo Greco also believes CommBank could be in for some growing headwinds (from The Bull).

“This leading Australian bank posted cash net profit after tax of $10.982 billion in full year 2026, up 7% on the prior corresponding period,” he said. “Revenue from ordinary activities of $30.153 billion was up 7%.”

As for his sell recommendation on CBA shares, Greco said:

Investors are concerned about slowing housing credit growth. Home loan applications fell about 15% since the federal budget in May and the company’s full year result in August.

Mortgage competition remains elevated. Investors may want to consider cashing in some gains until a clearer picture emerges about the state of Australia’s housing market, the outlook for interest rates and the broader outlook for credit growth moving forward.

The post Sell alert! Why this expert is calling time on CBA shares and this top ASX 200 stock appeared first on The Motley Fool Australia.

More reading

• How to earn $10,000 in passive income a month with these ASX dividend shares
• 3 strong ASX dividend shares with yields up to 7.7%
• Term deposits are paying more than ever. Are ASX dividend shares still worth it?
• Home values just fell for a fifth straight month. Which ASX shares are most exposed?
• When to sell your ASX shares? Warren Buffett has 3 answers

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

A new report from Bell Potter has projected a strong 12 months for ASX 200 stock Graincorp Ltd (ASX: GNC). 

GrainCorp is an agribusiness and processing company with a history spanning more than 100 years. 

The company operates the largest grain storage and logistics network in eastern Australia.

GrainCorp also provides grain marketing services to all major grain-producing regions in Australia as well as to its overseas growers. 

Its share price is down almost 23% over the last year. 

However a new report from Bell Potter suggests it could be a value opportunity for this ASX 200 stock following an update. 

Strong update 

In yesterday’s report, Bell Potter said that GrainCorp’s earnings outlook is improving due to both higher crop volumes and stronger margins. 

The Australian Bureau of Agricultural and Resource Economics (ABARE) has upgraded its 2026-27 east coast winter crop forecast by 2.8mt, or 12%, to 26.6mt, with particularly strong improvements in NSW and Victoria. 

Although this remains below the previous year’s crop, the forecast is around the five-year average.

According to the broker, the company may process less grain from the summer harvest than last year, but it is expected to make more money from each tonne it processes. 

The expected summer crop is falling from 4.6 million tonnes to 3.4 million tonnes, but the profit margin on processing oilseeds is looking much stronger. 

This improvement is partly because crops in the Northern Hemisphere are weaker while Australia’s crop outlook is improving, creating more favourable pricing conditions for the ASX 200 company. 

So, while volumes are down, higher margins could more than make up for it and support stronger profits.

Big price target upgrade 

Based on this guidance, Bell Potter has upgraded its FY27 EBITDA estimate by 15% and raised its target price from $5.90 to $7.15 per share. 

From current levels, this indicates a 14% upside. 

The ABARE crop report is positive and likely to lead to consensus upgrades. However, the margin backdrop at this point, in terms of both grain basis and oilseed crush margins, looks possibly the strongest it has for three years. To us this is key, as consensus FY27e expectations (which this crop estimate underwrites) looks to be carrying forward the margin environment of FY25-26e, which was materially weaker. This implies that there is both volume and margin upside potential within consensus FY27e expectations.

The post This ASX 200 stock just got a big upgrade from Bell Potter appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• This exciting ASX 300 stock has 89% upside: Broker
• Here are the top 10 ASX 200 shares today
• This ASX financials stock just soared 11% on results and is tipped to keep rising
• After crashing 6% on results, what is Bell Potter’s view on Domino’s shares?

Motley Fool contributor Aaron Bell 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.

If you are looking for big potential returns and have a high tolerance for risk, then it could be worth hearing what Morgans is saying about the speculative ASX shares named below.

Here’s what the broker is recommending:

EchoIQ Ltd (ASX: EIQ)

Morgans remains positive on this medical technology company following the release of its FY 2026 results and outlook for FY 2027.

In response, the broker has retained its speculative buy rating and $1.85 price target on its shares. Based on its current share price of $1.32, this implies potential upside of 40%. It commented:

The FY26 annual report confirms the numbers already flagged via quarterlies, but the real signal is the FY27 outlook section, which reads as almost entirely execution language now the balance sheet question is solved. 

The market is still waiting on an FDA decision for its Heart Failure (HF) application, which remains the key near-term catalyst and value inflection driver. Despite delays, we maintain a positive view on approval. Speculative Buy retained and A$1.85 p/s target price unchanged.

PeopleIn Ltd (ASX: PPE)

Another ASX share that Morgans is recommending is PeopleIn. 

It rates the workforce solutions company’s shares as a speculative buy with a $1.00 price target. Based on its current share price of 66 cents, this implies potential upside of approximately 50%. It commented:

PPE’s FY26 sees the completion of its portfolio simplification, with two subscale divisions divested (c.35% of the business) and the ongoing operations returned to growth. Group Normalised EBITDA of $19.0m (+1.6% pcp) was in line with MorgansF, while Normalised NPATA of $8.7m (+29.9% pcp) came in c.53% ahead on a lower underlying D&A (excl acquisitions amortisation). 

Debt continues to decline, with capital management centred on dividends/buybacks, along with incremental M&A. Second-half momentum was the feature, with 2H26 Normalised EBITDA up 19.0% on 2H25 and Engineering, Trades and Labour up 122.7%, as the Queensland infrastructure ramp began to convert. We retain our Speculative BUY with a revised A$1.00 target price (70% PER / 30% DCF).

Readytech Holdings Ltd (ASX: RDY)

Finally, although this mission-critical software provider’s results were a touch short of expectations, Morgans remains positive.

In response, the broker has retained its speculative buy rating with a $2.25 price target. Based on its current share price of $1.54, this implies potential upside of approximately 45%. Morgans commented:

RDY’s FY26 result came in towards the lower end of its revised FY26 guidance range, with revenue of $125m & EBITDA of $34.8m -1%/-4% lower than MorgF respectively, with contract implementation timing and customer churn across RDY’s legacy portfolio key headwinds during the period. 

Lower planned investment into FY27 and an improved cost base stemming from the group’s FY26 efficiency program should see the pathway back towards improved growth and margins as achievable, underpinning FY27 guidance of revenue of ~$128-132m (+2.4-5.6% YoY) & cash EBITDA margins of 15-17%. We trim EBITDA forecasts by -3-4% in FY27-FY29F, with our SPEC BUY retained.

The post Morgans says these speculative ASX shares could rise 40% to 50% appeared first on The Motley Fool Australia.

More reading

• 3 ASX shares with fresh buy ratings and big upside from Morgans
• 2 ASX shares tipped by brokers to return 49% to 68%

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

Sonic Healthcare Ltd (ASX: SHL) shares were stationary at $19.54 during Tuesday trading, but the ASX healthcare share has had a rough run. Sonic is down 11% over the past month, 14% year to date and 18% over the past 12 months.

That weakness could be catching the attention of passive income investors. But can this healthcare giant also deliver meaningful earnings growth?

Growth remains a key attraction

Sonic Healthcare is the largest private medical laboratory and pathology services operator in Australia, the United Kingdom, Germany and Switzerland. It is also a major provider of diagnostic imaging in Australia and the country’s largest medical centre operator.

The company’s FY26 result was impressive despite ongoing economic uncertainty. Revenue rose 13% to $10.9 billion, underlying EBITDA climbed 11% to $1.9 billion, while underlying earnings per share (EPS) increased 14% to $1.256.

There are reasons to believe demand can continue growing. Sonic operates in markets with ageing and growing populations, potentially supporting long-term demand for pathology, diagnostics and medical services.

Acquisitions provide another avenue for growth. The $10 billion ASX healthcare share has focused on expanding its European operations, with acquisitions helping increase its scale and potentially improve profit margins.

For investors, sustained profit growth is particularly important because earnings ultimately fund dividends.

A compelling dividend history

There aren’t many ASX companies with a dividend track record quite like Sonic Healthcare’s.

The ASX healthcare share has paid dividends since 1994 and has increased its payout almost every year since then. The only exceptions were 2011 and 2012, when Sonic maintained its dividend.

In FY26, Sonic continued its progressive dividend policy, increasing the payout by 1 cent per share to $1.08. Based on the current share price, that represents a dividend yield of approximately 5.4% before franking credits, or around 7% including franking credits.

That’s an attractive income proposition if Sonic can continue growing earnings and supporting its progressive dividend policy.

What do brokers think?

Sonic isn’t universally viewed as a buy. TradingView data shows 10 of 18 brokers rate the ASX healthcare share a hold, while four rate it a buy or strong buy and four have a sell or strong sell recommendation.

The average 12-month price target is $22.11, implying potential upside of roughly 13% from the current share price.

Bell Potter is more bullish. The broker maintained its buy rating after reviewing Sonic’s FY26 results, although it reduced its 12-month price target from $28.75 to $27.50.

Even after that downgrade, the target implies potential upside of around 40%.

Is Sonic Healthcare a buy?

At roughly 16 times earnings, Sonic Healthcare doesn’t appear excessively valued given its defensive operations, impressive dividend history and potential for long-term earnings growth.

The combination of a 7% fully franked-equivalent yield and potential earnings growth makes Sonic an ASX healthcare share income-focused investors may want to consider.

The post Could this 7%-yielding ASX healthcare share be a growth winner? appeared first on The Motley Fool Australia.

More reading

• Why this ASX healthcare share is a retiree’s dream for FY27
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• 37 ASX shares going ex-dividend next week
• How much superannuation is needed to target a $50,000 annual passive income?
• 3 top Australian shares to buy for passive income

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

September could be a good time to look at the income side of your portfolio.

But which ASX dividend shares could be worth considering this month?

Three shares that I think could be strong picks for passive income are listed below. Here’s what you need to know about them:

APA Group (ASX: APA)

APA Group could be an ASX dividend share to consider in September. It owns and operates a large portfolio of energy infrastructure assets across Australia.

This includes gas pipelines, processing assets, storage facilities, electricity transmission assets, and other infrastructure that helps move energy from where it is produced to where it is needed.

That gives APA Group a different profile to many other income shares. Its assets are tied to the movement of energy, which remains essential for households, businesses, and industry.

A large portion of APA Group’s earnings is supported by long-term contracts and regulated assets. This can provide a level of income visibility that is attractive for dividend investors.

Energy markets are changing, but Australia will still need reliable infrastructure for a long time.

Based on current estimates, APA Group offers a FY 2027 dividend yield of approximately 5.4%.

Charter Hall Long WALE REIT (ASX: CLW)

A second ASX dividend share for income investors to look at is Charter Hall Long WALE REIT.

This real estate investment trust (REIT) owns a portfolio of properties leased to government, corporate, and major tenant customers.

As its name suggests, a key feature is its long weighted average lease expiry. That means many of its properties are leased for long periods, which can provide better visibility over future rental income.

The portfolio includes assets across areas such as government, social infrastructure, industrial, convenience retail, and other essential or mission-critical properties.

Charter Hall Long WALE REIT has not been immune to higher interest rates and property market pressure. But its long leases and quality tenant base remain attractive features for income investors.

For FY 2027, the market is expecting Charter Hall Long WALE REIT to offer a dividend yield of roughly 7.3%.

HomeCo Daily Needs REIT (ASX: HDN)

Finally, HomeCo Daily Needs REIT is an ASX dividend share to consider.

The property company owns convenience-focused assets across neighbourhood retail, large-format retail, health, and services.

These are properties linked to things people keep using. Its tenants include supermarkets, pharmacies, healthcare providers, pet stores, childcare operators, and other daily-needs businesses.

That does not make the REIT risk-free, but it does give its portfolio a practical defensive quality.

People may delay big purchases when household budgets are tight, but groceries, healthcare, medicines, and essential services remain part of everyday life.

This can help support rental income and dividends through different market conditions.

At current levels, HomeCo Daily Needs REIT is expected to offer a FY 2027 dividend yield of around 7.7%.

The post 3 strong ASX dividend shares with yields up to 7.7% appeared first on The Motley Fool Australia.

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At age 64, you’re approaching the final few years before you can retire and enjoy the superannuation you’ve worked hard to accumulate.

But do you know if you actually have enough money in your account to live the retirement lifestyle you’ve planned?

Or how your super compares to others the same age?

Here’s a breakdown of the average superannuation balance for Australians aged 64, and how much you actually need to retire well.

How does yours stack up?

The average superannuation balance for Australian men aged 64 in FY27

There aren’t exact figures for the average balance at age 64, but the Association of Superannuation Funds of Australia (ASFA) provides a bracket which can be used as a starting point.

The data shows that the average Australian male aged 60 to 64 has around $395,852 in their superannuation.

But as age 64 is right at the top of that age bracket, it can be helpful to look at the one above too.

ASFA’s data shows that the average superannuation balance for Australian men aged 65-69 is $448,518.

And the average superannuation balance for Australian women at age 64

Women in the same age bracket have a lot less. The average balance for Australian women aged 60 to 64 is around $313,360. That’s a gap of around $83,000 compared to men the same age.

For the age bracket above, the gap is a little lower. The average superannuation balance for women aged 65 to 69 is $392,274. That represents a gap of around $56,000 when compared to men in the same age bracket.

The gap is mostly due to women taking extended periods out of the workforce, during which time they receive little to no compulsory employer superannuation. 

How does your super balance stack up with men and women the same age as you?

And most importantly, how does your balance compare with what you actually need to retire comfortably?

How much super do I actually need to retire comfortably?

ASFA estimates that it’ll cost single Australians around $55,923 per year to retire comfortably. Couples living together will need to have closer to $78,566 per year combined to finance a comfortable retirement.

These figures also assume you’ll start your retirement at age 67. It also assumes that you’ll receive a part Age Pension around this time and that you own your home outright.

In order to fund a comfortable retirement, ASFA calculates that single Australians will need around $630,000 in their superannuation at age 67. Meanwhile, couples will need around $730,000 combined at the same age.

To reach this goal, at 64, all Australians should aim to have around $581,000 stashed away in their superannuation.

As you can see, the amount you need to retire comfortably is significantly higher than the average superannuation balances for either age bracket.

Help! I’ve fallen behind. What can I do to boost my balance before it’s too late?

At age 64, it’s not too late to boost your superannuation balance before you decide to stop working.

My first tip is to ensure that your super fund is performing well and that your investment strategy and risk profit are appropriate for your circumstances. 

Then you’ll need to add extra contributions wherever you can. Take advantage of concessional and non-concessional limits and any potential tax reduction that may come with it.

Also take advantage of any applicable government contributions that might help your personal circumstances. There is a downsizer contributions rule, a bring-forward rule, a government co-contribution rule, and many others.

Anything you do today can help boost your compound growth.

The post The average superannuation balance for 64 year olds in Australia in FY27 appeared first on The Motley Fool Australia.

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• By September 2027, $5,000 invested in Macquarie shares could turn into…
• 5 things to watch on the ASX 200 on Tuesday

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 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.

On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session and edged lower. The benchmark index fell 0.1% to 9,066.7 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 to sink

The Australian share market looks set for a disappointing session on Wednesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 78 points or 0.85% lower. In the United States, the Dow Jones fell 0.8%, the S&P 500 dropped 0.7%, and the Nasdaq sank 1%.

Oil prices jump

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Wednesday after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 5.7% to US$90.65 a barrel and the Brent crude oil price is up 5.1% to US$95.13 a barrel. This was driven by an escalation in US-Iran tensions.

Buy Catalyst Metals shares

Bell Potter thinks that Catalyst Metals Ltd (ASX: CYL) shares could be worth considering. This morning, the broker has retained its buy rating on the gold miner’s shares with a trimmed price target of $12.80 (from $13.25). It said: “FY26 was a significant year for CYL, building operationally and financially YoY, achieving guidance. Our FY27 outlook remains unchanged (128koz for $2,833/oz AISC), subject to the September 2026 guidance and strategy release. We lower our TP to $12.80/sh and retain Buy.”

Gold price tumbles

ASX 200 gold shares Westgold Resources Ltd (ASX: WGX) and Northern Star Resources Ltd (ASX: NST) could have a poor session on Wednesday after the gold price tumbled. According to CNBC, the gold futures price is down 2.4% to US$4,375 an ounce. A stronger US dollar and US treasury yields weighed on the precious metal.

Buy GrainCorp shares

Bell Potter is also tipping Graincorp Ltd (ASX: GNC) shares as a buy this week with an improved price target of $7.15 (from $5.90). Commenting on its recommendation, the broker said: “The ABARE crop report is positive and likely to lead to consensus upgrades. However, the margin backdrop at this point, in terms of both grain basis and oilseed crush margins, looks possibly the strongest it has for three years. To us this is key, as consensus FY27e expectations (which this crop estimate underwrites) looks to be carrying forward the margin environment of FY25-26e, which was materially weaker. This implies that there is both volume and margin upside potential within consensus FY27e expectations.”

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

More reading

• The average superannuation balance for 64 year olds in Australia in FY27
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• Santos shares rebound 8% in a month: Buy, sell or hold?
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• The ASX 200 is falling again. What’s behind the sell-off?

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.

A good investment portfolio should do more than just look good on the day it is created.

I think it should also be something an investor can comfortably hold when markets fall, individual shares disappoint, and the latest hot investment starts grabbing attention.

Here is how I would build one with a decade in mind.

Start with businesses I genuinely understand

I would begin with ASX shares where I can explain the investment case without needing a complicated spreadsheet.

Coles Group Ltd (ASX: COL), for example, sells products Aussies buy regularly. ResMed Inc. (ASX: RMD) provides treatment for sleep apnoea, while Macquarie Group Ltd (ASX: MQG) has built expertise across banking, asset management, commodities, and investment markets.

The businesses themselves can be complex, but I want the reason for owning them to remain clear.

That makes it easier to judge whether something has genuinely changed when the share price falls.

Give the ASX portfolio several ways to succeed

I would also spread my investments across ASX shares that make money in different parts of the economy.

A portfolio dominated by one industry can perform brilliantly when conditions are favourable, but it can become uncomfortable very quickly when that sector struggles.

I would want exposure to areas such as healthcare, financial services, consumer spending, technology, infrastructure, and resources.

An exchange-traded fund (ETF) could make this easier. The Vanguard Australian Shares Index ETF (ASX: VAS), for example, provides exposure to hundreds of Australian shares through one investment.

I could then add individual shares where I have particularly strong conviction.

Leave room for growth

I think a 10-year portfolio should contain businesses that have somewhere to go.

That does not necessarily mean choosing the fastest-growing companies today.

I would look for businesses that can keep entering new markets, adding products, improving their operations, or becoming more important to customers. This might include ASX shares like Breville Group Ltd (ASX: BRG) or TechnologyOne Ltd (ASX: TNE).

A company that can repeatedly find sensible places to reinvest its money has a much better chance of being worth considerably more a decade from now.

I would also be careful not to fill the portfolio entirely with businesses that already depend on everything going right. Some balance between established companies and higher-growth opportunities can make the journey easier to tolerate.

Avoid constantly rebuilding it

There will always be reasons to change an ASX portfolio.

I would certainly sell if the investment case genuinely deteriorated. But I would not want ordinary volatility to turn a 10-year strategy into a series of short-term decisions.

Regularly adding money, reinvesting dividends, and allowing strong businesses to develop would be far more important to me than continually searching for something better.

Foolish takeaway

I think the best long-term ASX portfolio is one that gives an investor enough confidence to remain patient.

For me, that means understandable businesses, sensible diversification, room for growth, and a strategy simple enough that I do not feel compelled to keep changing it.

If I can build that portfolio and still feel comfortable owning it through difficult markets, I think I have given myself a strong chance of being pleased with the result 10 years from now.

The post How to build an ASX portfolio you can stick with for 10 years appeared first on The Motley Fool Australia.

More reading

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• How much superannuation do I need to earn $90,000 per year in passive income?
• Why I think the VAS ETF is a top pick for beginners and experienced investors
• Up 12%: Is there still value in Coles shares?

Motley Fool contributor Grace Alvino has positions in Vanguard Australian Shares Index ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Macquarie Group. 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 rose 1% during the August earnings season and are up 4% in the calendar year to date (YTD).

Brokers have been updating their ratings and 12-month share price targets after reviewing the FY26 results of hundreds of companies.

Let’s see what Bell Potter and Morgans thinks of these 3 ASX shares.

Liontown Ltd (ASX: LTR)

The Liontown share price leapt 27% during earnings season and is down 22% YTD.

Bell Potter has a buy rating on this ASX 200 lithium share after reviewing Liontown’s FY26 report.

The broker maintained its 12-month share price target at $1.90.

This implies a potential near-50% upside from here.

Analysts Stuart Howe and Ritesh Varma said:

We still believe that LTR’s EV is lagging the recent recovery in lithium markets and expected tight fundamentals.

The last time LTR was trading at its current EV (early December 2025), SC6 prices were US$1,150/t and net debt was $274m.

Since then, the Kathleen Valley underground ramp-up has been further derisked and spot SC6 prices are above US$2,300/t.

While we expect lithium markets will be volatile, market fundamentals remain strong.

Over FY27, LTR will continue to ramp up and de-risk Kathleen Valley, a highly strategic asset in terms of scale, long project life and location in a tier-one mining jurisdiction.

Austal Ltd (ASX: ASB)

The Austal share price ascended 15% during earnings season and is down 38% YTD.

Bell Potter has a hold rating on this ASX 200 industrials share following Austal’s FY26 results.

The broker reduced its 12-month share price target from $5 to $4.70.

This suggests a potential 11% upside from here.

Analyst Baxter Kirk said: 

ASB pre-reported an EBIT loss of -$113m earlier this month, however, FY26 EBIT came in below this pre-report at -$125m.

ASB reported +11% YoY revenue growth to $2,029m 8% below BPe of $2,197m and consensus of $2,213m.

ASB typically does not provide guidance this early in the year…

The Board and management are committed to delivering a return to profitability in FY27e.

Management expects the operational and financial performance of the Australasia

Support segment to fall to some extent in the near term due to scheduled end of current contracts and closure of Austal Darwin.

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price jumped 16% during earnings season and is down 8% YTD.

Morgans downgraded this ASX 300 energy share from an accumulate to sell rating after its FY26 results.

The broker reduced its 12-month share price target from $1.40 to $1.30.

This implies a potential 10% downside from here.

Morgans said: 

Guidance rest and expectations move lower — FY27 guidance implies a ~15% production downgrade versus consensus even at the top end of the range, while C1 costs and AISC are ~15-18% above market expectations.

While FY26 was broadly in line, FY27 guidance is likely to drive a reset in earnings expectations.

Honeymoon new feasibility study — The updated feasibility study outlines a more achievable development pathway with improved unit economics and lower sustaining capital intensity; however, the 13.8Mlb production profile sits below the ~15.1Mlb assumed by consensus, shifting the debate towards whether improved margins can offset lower volumes.

The post Buy, hold, sell: Boss Energy, Austal, Liontown shares appeared first on The Motley Fool Australia.

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• Down 28% to 46%: Are these beaten-down ASX shares cheap buys?
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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.

Investors often focus on ASX 200 shares for the perceived security compared to ASX small-cap stocks. 

But even extending a lens to just the ASX 300 can lead to more growth-focused opportunities.

That is exactly the case with ASX 300 stock Catalyst Metals Ltd (ASX: CYL). 

Company overview 

Catalyst Metals is a mid-tier Australian gold producer and developer. It holds 100% ownership of two key projects.

The first is the Plutonic Gold Operation in Western Australia, an operating, multi-mine gold production centre targeting 100,000 to 110,000 ounces of gold in FY26.

The second is the Bendigo Gold Project in Victoria, an advanced exploration project.

Its share price has hovered between $4.40 and $9.80 over the past 12 months. Right now, it sits in between these yearly highs and lows. 

However the team at Bell Potter is bullish this ASX 300 stock could explode over the next 12 months.

The broker provided updated guidance on the company following its FY26 results. 

Solid results 

According to Bell Potter, this ASX 300 stock delivered a solid FY26 operational result. It reported revenue of A$632m, EBITDA of A$303m and NPAT of A$171m. 

While these earnings were below Bell Potter’s expectations, the EBITDA shortfall was largely due to a A$49m legal settlement; excluding this, underlying EBITDA of A$352m was only about 5% below forecast.

The company also made good progress on growth projects and exploration. 

The Trident underground resource increased to 1.1Moz at 5.4g/t, while the Cinnamon discovery provides additional exploration upside. Cash and bullion increased by A$101m to A$331m, with no debt, and liquidity was subsequently strengthened to A$531m after the revolving credit facility was doubled to A$200m.

Overall, Bell Potter’s message is that FY26 was a building year: operational performance was broadly on track, the balance sheet strengthened, and significant investment was made in future production growth. 

The key upcoming catalyst is the September FY27 guidance and 10-year plan, which should provide greater clarity on how quickly Catalyst can move toward its ~200kozpa production ambition.

89% upside for this ASX 300 stock

Based on this guidance, Bell Potter has retained its buy recommendation along with an updated price target of $12.80. 

From current levels, this indicates an upside potential of 89%. 

FY26 was a significant year for CYL, building operationally and financially YoY, achieving guidance. Our FY27 outlook remains unchanged (128koz for $2,833/oz AISC), subject to the September 2026 guidance and strategy release.

The post This exciting ASX 300 stock has 89% upside: Broker appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell 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.