Category: Stock Market

The PEXA Group Ltd (ASX: PXA) share price is in focus after the company acknowledged a draft report from the NSW Independent Pricing and Regulatory Tribunal (IPART) proposing a 20% revenue reduction for regulated service fees, which could impact an estimated $70 million in revenue.

What did PEXA Group report?

• IPART draft report proposes reducing PEXA Exchange’s regulated revenue requirement by about 20%.
• This equates to an estimated $70 million reduction in revenue for PEXA.
• The draft report recommends fee reductions over one year, but PEXA is advocating for a four-year phase-in.
• No immediate changes to PEXA’s service fees; current arrangements remain in place for FY27.
• Potential changes would commence from 1 July 2027, spanning through FY31.

What else do investors need to know?

PEXA stated that the proposed changes are still at a draft stage and remain open to public consultation. The final IPART recommendations will be submitted to the Australian Registrars’ National Electronic Conveyancing Council (ARNECC) after this process. Importantly for investors, any changes to regulated Electronic Lodgement Network Operator (ELNO) service fees wouldn’t start until FY28. PEXA has highlighted the importance of phasing any reduction to allow the business time to adjust and maintain stability. An investor briefing will be held today at 9:30am (AEST), offering more detail on PEXA’s response and future plans.

What’s next for PEXA Group?

PEXA will take part in the public consultation process, including a scheduled public hearing on 21 July 2026 and the submission of its response before 14 August 2026. The Group will continue engaging with stakeholders and IPART to shape the final outcome of the fee review. In the meantime, PEXA is focused on advocating for a more gradual introduction of any price changes and remains committed to supporting its customers and the property settlement industry.

PEXA Group share price snapshot

Over the past 12 months, PEXA shares have declined 15%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 2% over the same period.

View Original Announcement

The post PEXA Group responds to IPART draft service fee review appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart 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 PEXA Group. The Motley Fool Australia has positions in and has recommended PEXA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Investors with a high tolerance for risk might want to hear what Bell Potter is saying about the ASX share in this article.

That’s because if the broker is on the money with its recommendation, this speculative ASX share could more than triple in value.

Which ASX share could be cheap?

Bell Potter is tipping Chalice Mining Ltd (ASX: CHN) shares to rocket from current levels.

The broker was pleased to see the company continuing to progress its 100%-owned Gonneville Pd-Ni-Cu Project in Western Australia.

It notes that Gonneville has emerged as the largest and lowest cost undeveloped palladium-nickel-copper reserve in the western world and a globally significant strategic minerals asset.

Commenting on recent work, it said:

Multiple workstreams are underway for the completion of the Gonneville Feasibility Study, which has a budget of $25m and is due for completion in 2HCY27. Ongoing activities include: a comprehensive 8-week pilot plant operation program to test the process route design; permitting and approvals, including the Environmental Review Documents (ERD) submission in 2HCY26; the investigation of multiple secondary funding options including with potential offtake partners.

CHN is also assessing strategic partnership and investment opportunities with several parties having commenced due diligence. Early indications on project financing are that up to 60- 70% of pre-production CAPEX could be funded with debt, including from sovereign/govt sources, due to the long-life, low cost and strategic nature of Gonneville.

Huge potential returns

According to the note, Bell Potter has retained its speculative buy rating and $4.00 price target on the ASX share.

Based on its current share price of $1.15, this implies potential upside of approximately 250% for investors over the next 12 months.

To put that into context, a $2,500 investment would be worth $8,750 by this time next year if Bell Potter has made the correct call.

Commenting on its buy thesis, the broker said:

CHN’s Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes. CHN is sufficiently funded to reach FID in 1HCY28. We retain our Speculative Buy recommendation on an unchanged Valuation of $4.00/sh.

The post Bell Potter says this cheap ASX share could rise almost 250% in just 12 months 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 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 an ASX 200 share to buy, then it could be worth considering Netwealth Group Ltd (ASX: NWL) shares.

That’s because according to Bell Potter, there could be big returns on the cards for buyers at these levels.

What is the broker is saying?

Bell Potter has been busy updating its model to reflect mark-to-markets and appears confident its update next month will be positive. It said:

Despite earlier risk off, global equity markets recovered and posted outsized returns for the June quarter. We update our model to reflect strong positive mark-to-markets. NWL offers the highest and cleanest leverage across our platform coverage, which is one reason why we continue to favour the name into the trading update (16 July). We upgrade FUA forecasts +1%/+1%/+1% for 2026-28.

It then adds:

Our forecasts already captured the benefit of stronger markets in April, so revisions are a little more modest while our net inflow forecasts remain unchanged. We expect custodial FUA flows of $3.8B for the quarter (which usually build over the course of the year) and market movements of $6.4B. The run-rate has now improved for four consecutive quarters, although our $3.8B forecast implies a slowdown, against the usual seasonality.

Big potential returns

As mentioned at the top, Bell Potter believes this ASX 200 share could deliver big returns for investors over the next 12 months.

According to the note, the broker has retained its buy rating and $30.00 price target on Netwealth’s shares.

Based on its current share price of $21.76, this implies potential upside of 38% for investors over the next 12 months.

In addition, Bell Potter is forecasting a 2% dividend yield over the same period, bringing the total potential return to approximately 40%.

Commenting on the company and its buy thesis, it said:

Our Buy recommendation is unchanged. NWL no longer trades as a leveraged play on financial markets, which is interesting. Given its increased scale, we would expect the opposite, with free carry having a bigger impact than flows. A shift back into global growth assets should also be supportive. Although it hasn’t benefited from this either.

NWL reaffirmed EBITDA margin guidance despite weakness in March, and we count 23 advertised roles (quite large) skewed towards product and corporate, with a focus on senior hires. We have reset our margin expectations to 49.0%. This results in EPS changes of -2%/+0%/+0% for 2026-28.

The post Why this ASX 200 share could deliver a 40% return 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 Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a subdued session but managed to finish slightly higher. The benchmark index rose 1.6 points to 8,724.5 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to rise on Friday despite a mixed night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 52 points or 0.6% higher this morning. On Wall Street, the Dow Jones was up 2.15%, but the S&P 500 was flat and the Nasdaq fell 0.8%.

Oil prices fall

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices fell again overnight. According to Bloomberg, the WTI crude oil price is down 0.7% to US$68.10 a barrel and the Brent crude oil price is down 0.6% to US$71.13 a barrel. US-Iran peace deal optimism has weighed on oil prices.

Buy Netwealth shares

Bell Potter thinks Netwealth Group Ltd (ASX: NWL) shares are undervalued. This morning, the broker has retained its buy rating and $30.00 price target on the investment platform provider’s shares. This implies potential upside of approximately 38%. It said: “Our Buy recommendation is unchanged. NWL no longer trades as a leveraged play on financial markets, which is interesting. Given its increased scale, we would expect the opposite, with free carry having a bigger impact than flows. A shift back into global growth assets should also be supportive.”

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a good finish to the week after the gold price charged higher overnight. According to CNBC, the gold futures price is up 1.1% to US$4,126.1 an ounce. This was driven by the release of US payrolls data, which the market appears to believe wasn’t supportive of interest rate hikes.

Buy Chalice shares

Bell Potter has also recommended Chalice Mining Ltd (ASX: CHN) shares this morning. According to the note, the broker has reaffirmed its speculative buy rating and $4.00 price target on the mineral exploration company’s shares. It said: “CHN’s Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes. CHN is sufficiently funded to reach FID in 1HCY28.”

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

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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth 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 300 Index (ASX: XKO) uranium stock Bannerman Energy Ltd (ASX: BMN) has lost a fair bit of ground since the end of April.

On 23 April, Bannerman shares closed trading for $4.74. Earlier this week, shares were changing hands for $3.14 apiece, putting the share price down 33.7% in just over two months.

While that’s been a painful slide for existing shareholders, Fairmont Equities’ Michael Gable believes this the retrace now presents an opportunity to buy Bannerman shares at a long-term bargain price (courtesy of The Bull).

Should I buy the ASX 300 uranium stock today?

“This uranium development company’s flagship Etango project is based in Namibia,” Gable said.

Citing the first reason you might want to buy Bannerman Energy shares today, he noted, “We believe the uranium sector presents a bright outlook as we expect demand to outpace supply for the next several years.”

Then there’s the recent joint venture agreement the ASX 300 uranium stock inked with the China National Nuclear Corporation, first announced to the market on 13 February.

Commenting on the JV Etango funding deal on the day, Bannerman Energy executive chairman Brandon Munro said:

By enabling the debt-free construction of Etango, this solution maximises flexibility and dramatically derisks the construction and ramp-up phases of project execution.

It also delivers us a Tier-1 cornerstone offtake partner on genuine and market terms, ensuring Bannerman remains strongly exposed to future uranium price upside potential.

Gable pointed out that the market doesn’t appear to be pricing in the benefits of the JV deal. He noted:

Despite BMN de-risking its main resource by announcing a joint venture with the China National Nuclear Corporation, the share price has retreated along with many other stocks in the market.

Which brings us to the third reason Gable has a buy recommendation on Bannerman Energy shares.

“In our view, this presents a buying opportunity as BMN should be leveraged to any upside in the uranium price,” he concluded.

What’s the latest from Bannerman Energy?

Bannerman released its March quarter update on 29 April.

Commenting on the progress being made at Etango, Bannerman CEO Gavin Chamberlain said:

Bannerman continued to progress Etango’s early works program during the March 2026 quarter, with key construction activities, detailed design and procurement advancing in line with schedule and budget.

The ASX 300 uranium stock reported that its site contractor workforce numbered more than 560 personnel at the quarter end, and the project’s bulk earthworks contract was 66.5% complete.

Turning to the balance sheet, as at 31 March, Bannerman Energy had a cash balance of $69.9 million and liquid assets of $12.7 million.

The post 3 reasons to buy this beaten down ASX 300 uranium stock today appeared first on The Motley Fool Australia.

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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 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.

National Australia Bank Ltd (ASX: NAB) shares have had a difficult year.

Down approximately 10% year-to-date, NAB has materially underperformed the broader ASX 200 in 2026. The company has shed billions in market capitalisation even as the bank continued to pay consistent fully franked dividends to its shareholders.

This week, Fairmont Equities’ Michael Gable added his name to the growing list of analysts expressing concern about the outlook, issuing a sell alert on NAB shares with a frank assessment of the risks building into FY27.

The question for the millions of Australians who own NAB shares, directly or through their superannuation funds, is whether those concerns are already reflected in the price or whether there is more pain ahead.

What the analyst said

Gable’s sell case rests on three specific concerns about NAB’s positioning heading into FY27.

The first is margin pressure.

Higher deposit competition continues to eat into the spread between what NAB earns on its lending and what it pays to depositors.

This is a structural headwind for all four major banks, and one that hits NAB particularly hard given its business banking focus.

The second is credit risk.

NAB’s first-half FY26 result saw the bank increase its collective provisions by $300 million. This is a signal that management is preparing for potential deterioration in credit quality across its business lending book as higher interest rates and a weaker economy take their toll.

The third concern goes to NAB’s core competitive advantage.

NAB has long been regarded as the premier business bank in Australia, with deeper relationships and stronger market share in commercial lending than any of its peers.

Gable cautioned that this strength is what makes NAB most exposed in the current environment.

He said:

In a weaker economy, NAB is particularly vulnerable to softer earnings growth due to its higher focus on business banking.

Summarising his sell recommendation, he concluded:

Despite a significant share price fall, NAB valuations aren’t cheap, leaving the stock exposed to downside risk.

The numbers behind the concern

NAB’s first-half FY26 result, released on 4 May, told a story of a bank managing its way through difficult conditions rather than growing through them.

Cash earnings (excluding notable items) rose just 2.3% year-on-year to $3.59 billion, while underlying profit was up 6.4%.

The credit impairment charge of $706 million was partially tied to potential stress from the Middle East conflict.

The bank maintained its interim dividend at 85 cents per share, a sign of stability but also confirmation that earnings growth has slowed to a level that does not support a dividend increase.

The consensus analyst picture is bleak relative to NAB’s recent history.

Of the nine most recent rating calls, four are sell, three are hold, and two are buy. This is an unusually bearish spread for one of Australia’s largest companies.

The bull case for NAB shares still exists

Not every analyst shares Gable’s view.

UBS retains a buy rating on NAB shares with a price target of $48.50, implying upside of approximately 35% from current levels.

The broker cited NAB’s improving net interest margin and business banking position as reasons the selloff has overshot.

At approximately 15 times forecast FY26 earnings, NAB is also considerably cheaper than CBA, which trades at approximately 26 times.

The consensus forecast for the FY26 dividend is $1.70 per share, fully franked.

This implies a forward grossed-up yield of approximately 6.4% at current prices, which remains attractive on an absolute basis for income investors.

That yield, and the relative valuation discount to CBA, forms the core of the remaining bull argument.

The honest assessment for NAB shares

The headwinds Gable identifies are material.

Margin pressure, rising provisions, and business banking credit risk are real concerns, and were reflected in the bank’s own first-half result.

However, a 10% share price this year already prices in a meaningful amount of that negative expectation.

The gap between UBS’s $48.50 target and the current price suggests the market has, if anything, possibly overreacted.

But that conclusion depends on whether credit quality holds up and whether NAB’s business banking franchise continues to outperform its peers even in a weaker economy.

Foolish takeaway

NAB shares are not obviously cheap even after a 10% fall.

The headwinds the bank faces into FY27 are material. But a cheaper entry point, a fully franked yield approaching 6.5%, and a valuation discount to CBA all suggest the market has already priced in a significant portion of the bad news.

Investors who already hold NAB shares for income purposes have a defensible reason to stay patient.

Investors considering a new position should weigh the attractive yield against the credit quality uncertainty that FY27 will ultimately resolve.

The post A leading analyst is forecasting growing headwinds for NAB shares. Should investors be worried? appeared first on The Motley Fool Australia.

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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 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.

ASX wine stock Treasury Wine Estates Ltd (ASX: TWE) looked as though it was finally turning a corner.

After gaining around 7% over the past month, investors were starting to believe the worst might be over. Instead, the ASX wine stock slipped another 3.2% to $4.50 on Thursday, extending its six-month decline to 14% and its 12-month loss to a hefty 43%.

So, what stopped the recovery in its tracks?

Patchy consumer demand

The $4 billion ASX wine stock has spent much of the past year battling headwinds on several fronts.

Investors have become increasingly concerned about patchy consumer demand, a slower-than-expected recovery in China, and weaker discretionary spending as households continue to feel the pressure from higher living costs.

Premium wines like Treasury Wine’s brand Penfolds may command attractive margins, but they are hardly immune when consumers tighten their belts.

Thursday’s decline also appeared to reflect a degree of profit-taking after the recent rally rather than any material negative announcement.

Reasons for optimism remain

In fact, management delivered a reasonably encouraging update at its recent investor day. Treasury Wine reaffirmed FY26 EBIT guidance of $480 million to $490 million and indicated FY27 earnings should be at least comparable as Penfolds completes its inventory rebalancing in China.

Management also highlighted the TWE Ascent transformation program, which is targeting $100 million in annual cost savings. The first benefits are expected to flow through in FY27, with the full financial impact building over the following two to three years.

Investors initially welcomed those updates, sending the ASX wine stock almost 10% higher immediately after the investor day.

Why the long-term story remains intact

Treasury Wine still owns one of the strongest portfolios of premium wine brands in the industry. Its stable includes Penfolds, 19 Crimes, Wolf Blass, Lindeman’s, and Squealing Pig, giving the company exposure to both luxury and mainstream consumers across multiple global markets.

Management of the ASX wine stock continues to shift the business towards higher-margin premium wines, reducing its reliance on lower-priced, more competitive products.

China could also become a meaningful growth driver again. The removal of tariffs on Australian wine has reopened an important export market. While the recovery has been slower than many investors hoped, stronger demand would provide a significant earnings tailwind.

Combined with Treasury Wine’s broad international distribution network, the company is less dependent on any single market than many of its peers.

Risks remain

The investment case of this ASX wine stock is not without challenges. Consumer demand remains uneven, competition is intense, and the recovery in China still needs to prove itself.

If spending on premium wines remains subdued or Chinese sales disappoint, earnings growth could again fall short of expectations.

What do analysts think?

Despite recent weakness, brokers remain constructive. Citi continues to rate Treasury Wine a buy with a $5.50 price target, implying upside of around 22% from current levels.

Morgans is even more optimistic on the ASX wine stock. Following the company’s investor day, the broker reiterated its buy recommendation and lifted its target price to $5.95 per share. That suggests Treasury Wine shares could climb roughly 32% over the next 12 months.

For now, investors appear torn between encouraging long-term fundamentals and near-term uncertainty. The next few earnings update next month may determine which story ultimately wins.

The post This ASX wine stock looked ready to recover. Why did it stumble again? 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 Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Commonwealth Bank of Australia (ASX: CBA) shares remain one of the most widely held investments on the ASX.

The bank last traded around $161.14, which places it around the middle of its 52-week range of $146.98 to $185.59. That means investors are currently looking at a share price that is below recent highs, but still far from distressed levels.

So the question is simple: should investors buy, hold, or sell CBA shares in July?

My view is that CBA is a buy.

Why I still like CBA

CBA continues to stand out as the highest-quality bank in Australia, in my view.

It has a dominant retail franchise, a very large and stable deposit base, and a strong digital banking platform that supports customer retention and efficiency. These are not new advantages, but they are the kind that tend to compound over long periods.

Banking is a competitive industry, but scale and trust still matter. I think CBA has both in abundance.

Even in a more uncertain economic environment, customers still need mortgages, transaction accounts, savings products, credit cards, and business banking services. CBA sits at the centre of that system.

Earnings and valuation

According to CommSec consensus estimates, CBA is expected to generate earnings per share of $6.54 in FY26 and $6.72 in FY27.

Based on the current share price of $161.14, that puts the bank on a price-to-earnings ratio of around 25 times FY26 earnings and 24 times FY27 earnings.

That is not a cheap valuation. However, I think it is important to separate valuation from quality. CBA consistently trades at a premium because investors are willing to pay for stability, profitability, and lower risk compared to other banks.

In that context, I think the valuation is justified rather than extreme.

Income appeal

CBA also remains attractive for income-focused investors.

While its dividend yield is not the highest in the banking sector, CBA’s dividends are typically supported by strong earnings and a conservative approach to capital management.

That combination of income and safety is a key reason many investors continue to hold the stock even after strong share price performance in recent years.

Key risks

No investment is without risk, and CBA is no exception.

The biggest risks remain around housing market conditions, credit quality, regulatory pressure, and the broader economic cycle. If unemployment were to rise significantly or property prices were to weaken materially, bank earnings would likely come under pressure.

There is also the risk that investors are already paying a premium for quality, which could limit near-term capital upside.

Foolish takeaway

I think CBA shares are a buy in July.

The valuation is not cheap, but I think it is fair for the quality of the business. CBA remains the dominant banking franchise in Australia, with strong earnings power, a reliable deposit base, and a long track record of navigating different economic cycles.

For long-term investors, I think it remains one of the most dependable ASX shares to own.

The post Should I buy, hold, or sell CBA shares in July? appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has positions in Commonwealth Bank Of Australia. 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.

CSL Ltd (ASX: CSL) has endured one of the most turbulent periods in its recent history. CSL shares are up around 25% over the past month, but still sit roughly 51% lower over the past 12 months.

That sharp rebound raises an obvious question: is this the start of a recovery—or just a temporary relief rally in a longer downtrend?

How did we get here?

Not long ago, CSL shares were viewed as one of the most reliable compounders on the ASX. It built its reputation on steady earnings growth, dominant global positions in plasma-derived therapies, and a track record of rewarding long-term shareholders.

But sentiment has shifted sharply. A combination of earnings downgrades, leadership transition, and roughly US$5 billion in non-cash impairments tied to the CSL Vifor acquisition has weighed heavily on confidence.

The result has been a share price collapse of more than 50% over the past year.

A strong business under pressure

Despite the price weakness of CSL shares, the underlying business remains highly defensive.

CSL is still the world’s second-largest plasma-derived therapies company. It operates in an industry with high barriers to entry, strict regulatory requirements, and long-established supply chains. These structural advantages are not easily replicated, even by well-funded competitors.

CSL’s latest update offered a clearer picture of current conditions. The company now expects FY26 revenue of approximately US$15.2 billion and underlying net profit after tax and amortisation (NPATA) of around US$3.1 billion, on a constant currency basis.

While these figures reflect continued growth, they also highlight near-term margin pressure and execution challenges.

The key pressure point

The biggest issue remains the US immunoglobulin business within CSL Behring. Demand continues to grow at a healthy mid-to-high single-digit rate, which is broadly in line with expectations.

However, supply constraints and pricing dynamics mean the healthcare company is not fully capturing that demand growth in real time. That timing mismatch has weighed on earnings momentum and investor sentiment on CSL shares.

What do analysts think?

Broker views are split. Morgans remains constructive on CSL shares, retaining a buy rating with a price target of $147.59, implying around 25% upside from current levels.

The team at Macquarie Group Ltd (ASX: MQG), however, is more cautious. It has a lower price target of $114 and maintains a neutral stance, citing uncertainty across CSL’s core plasma and albumin businesses, as well as ongoing competitive pressures.

Foolish takeaway

The debate now centres on timing rather than business quality. CSL remains a dominant global healthcare franchise with long-term structural advantages. But near-term earnings visibility is unclear, and investors may need patience before a sustained recovery takes hold.

Management has pointed to FY27 as a key inflection point. This is supported by leadership changes and expected improvements in the Behring division. For now, CSL sits in an awkward middle ground: a high-quality business going through a difficult reset.

Whether the recent rally of CSL shares marks the beginning of recovery—or just another bounce in a downtrend—will likely depend on what FY27 delivers.

The post CSL shares are up 25%: is it time to buy, hold or sell? 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 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.

S&P/ASX 200 Index (ASX: XJO) shares rose 2.77% and delivered total returns, including dividends, of 7% in FY26. 

The benchmark index hit a record 9,202.9 points on 26 February before finishing the year at 8,778.7 points on 30 June.

There are 11 market sectors within the ASX 200.

In this article, we name the top-performing shares by capital growth in each market sector. 

No. 1 shares of the ASX 200 market sectors 

These were the No.1 shares of each market sector based on 12-month share price growth (excluding dividends).

We have listed the sectors from strongest to weakest.

Six of the 11 sectors declined in value last year. 

Materials

The ASX 200 materials sector was the best performer by far. 

The S&P/ASX 200 Materials Index (ASX: XMJ) soared 47.48% and produced total returns of 52.11% in FY26. 

Australia is in the midst of a new mining boom with five key factors driving a new commodities supercycle.

The green energy transition, artificial intelligence (AI) build-out, and central banks diversifying their reserves with gold drove strong commodity price rises in FY26.

The best performing share within the ASX 200 materials sector was gold explorer, Minerals 260 Ltd (ASX: MI6).

The Minerals 260 share price ripped 508% to finish at 73 cents per share on 30 June. 

Consumer Staples

The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) rose 10.09% and delivered total returns of 13.72%. 

Woolworths Group Ltd (ASX: WOW) was the top-performing consumer staples share of the year.

The Woolworths share price rose 28.67% to $40.03 in FY26.

Energy

The S&P/ASX 200 Energy Index (ASX: XEJ) rose 9.37% and delivered total gross returns of 14.51%.

ASX 200 coal  producer New Hope Corporation Ltd (ASX: NHC) recorded the strongest share price growth.

New Hope Corporation shares increased 44.32% to finish the year at $5.34 per share.

Utilities

The S&P/ASX 200 Utilities Index (ASX: XUJ) rose 5.89% and delivered a total return of 11.87%.

Energy infrastructure company APA Group (ASX: APA) was the best performer of the utilities sector. 

The APA Group share price ascended 24.11% to finish FY26 at $10.14.  

Industrials

The S&P/ASX 200 Industrials Index (ASX: XNJ) edged 1.69% higher and produced total returns of 5.24%.

ASX 200 defence share Electro Optic Systems Holdings Ltd (ASX: EOS) recorded the highest capital growth.

The Electro Optic Systems share price soared 261% to finish the year at $10.30. 

Financials

The S&P/ASX 200 Financials Index (ASX: XFJ) fell 1.89% in value, but dividends lifted the total return into the green at 1.69%. 

New Zealand-based infrastructure investment company, Infratil Ltd (ASX: IFT) was the best performer of the financials sector.

The Infratil share price lifted 28.8% to finish the year at $12.61.

Consumer discretionary

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) fell 3.56% and produced a total negative return of 1.21%.

The Eagers Automotive Ltd (ASX: APE) share price experienced the most growth in the consumer discretionary sector. 

The Eagers Automotive share price rose 21.83% to finish the year at $21.26. 

Real estate & REITs

The S&P/ASX 200 Real Estate Index (ASX: XPJ) dropped 5.32% and delivered a total negative return of 2.24%.

Property fund manager Charter Hall Group (ASX: CHC) outshone its property sector peers.

The ASX real estate investment trust (REIT) rose 19.12% to $22.66 on 30 June. 

Communications

The S&P/ASX 200 Communications Index (ASX: XTJ) tanked 12.4% and delivered a negative total return of 9.41%.

Telco stock Aussie Broadband Ltd (ASX: ABB) rose the most in FY26. 

The Aussie Broadband share price ripped 26.09% to $4.93 on 30 June.

Technology

The S&P/ASX 200 Information Technology Index (ASX: XIJ) dove 37.22%, with a total negative return of 36.97% in FY26. 

Codan Ltd (ASX: CDA) shares outperformed in the technology sector last year.

The Codan share price screamed 119.49% higher to $44.14 on 30 June.

Healthcare

Healthcare was the worst-performing sector of FY26.

The S&P/ASX 200 Health Care Index (ASX: XHJ) tumbled 37.4% and delivered a negative total return of 36.15%.

The 4DMedical Ltd (ASX: 4DX) share price was absolutely unstoppable in FY26. 

Shares in 4DMedical skyrocketed 1,786% to $4.53 on 30 June. 

The respiratory imaging tech company was not only the shining star of the healthcare sector.

It was also the No. 1 stock for capital growth overall in FY26.

 

The post Top ASX 200 share of each market sector in FY26 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 positions in and has recommended Aussie Broadband and Electro Optic Systems. The Motley Fool Australia has positions in and has recommended Apa Group. The Motley Fool Australia has recommended Aussie Broadband. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.