The S&P/ASX 200 Index (ASX: XJO) spiked to an all-time high in early August. After falling from that peak, it remains up around 3% year-to-date.

Concerns about inflation, higher interest rates and a rising oil price saw stocks soften across much of the index.

Some ASX 200 shares, like Transurban Group Ltd (ASX: TCL) and Aurizon Ltd (ASX: AZJ) were smashed by the slump in sentiment, while others, such as APA Group Ltd (ASX: APA) bucked the trend and flew higher.

Here’s a breakdown of how each of these shares are tracking now, and what brokers tip next.

Hold APA shares

At the time of writing, APA shares are trading at $10.94 a piece. That’s a 6% increase over the past month and around a 21% increase for the year-to-date.

The shares stormed higher after the company reported its FY26 results in mid-August, which surpassed guidance.

APA reported an 8.3% increase in underlying EBITDA as part of its FY26 results this morning. It also announced a 3.2% increase in its free cash flow and 1.9% uplift in statutory revenue (excluding pass-through), and a 81.4% jump in statutory net profit.

Going forward, APA is also guiding a higher underlying EBITDA of between $2,260 million and $2,340 million for FY27.

The share price has climbed around 8% higher since its results announcement, but it looks like the shares could now be around fair value.

Market Index data shows the majority of brokers have a hold rating on APA shares. The average $9.65 target price implies a potential 12% downside at the time of writing.

Hold Transurban shares

Transurban shares have fallen around 8% over the past month, at the time of writing. The slump means the shares are now down around 3% for the year-to-date.

The shares started sliding after it posted its FY26 update. The toll road company reported a 7.5% increase in its proportional operating EBITDA and a 6.7% increase in its proportional toll revenue growth. EBITDA market also increased to 75.7%, up from 74.9% in FY25.

But it looks like investors are concerned about Transurban’s climbing debt-servicing costs and are now questioning whether its shares are now trading at over stretched valuations. The shares are now down around 6% since the results announcement.

Brokers are also reserved about the outlook for the shares. Market Index data shows that the majority have a hold rating on APA shares. The $13.95 average target price implies around a 2% upside ahead, at the time of writing.

Hold Aurizon shares

Aurizon shares crashed around 13% following its FY26 results last month. There has been a slight share price recovery, but they’re still down around 12% over the past month. 

The rail freight operator posted a 6% increase in revenue, a 9% increase in underlying EBITDA, and a 24% increase in underlying NPAT. Management also raised its full-year dividend 46% to 23 cents per share.

Going forward, Aurizon is guiding underlying EBITDA of $1,725–$1,775 million, with full-year dividends expected to be in the range of 23 to 24 cents per share. 

The company is targeting higher earnings in the Network and Bulk divisions, but it said Coal is expected to moderate due to lower contracted volumes. Containerised Freight is forecast to reach break-even on an EBITDA basis.

But it looks like investors are concerned about the cautious FY27 guidance figures and declining coal haulage expectations.

Brokers are also reserved. Again, Market Index shows that the majority of brokers have a hold rating on the shares. The $3.68 target price implies a downside of around 1% at the time of writing.

The post Here’s what brokers tip next for APA, Transurban, Aurizon shares appeared first on The Motley Fool Australia.

More reading

• Australian bond yields are back at 2011 levels. What does this mean for ASX shares?
• $1,000 buys 91 shares in an impressively reliable ASX dividend stock
• How much is needed in superannuation for $1,500 in weekly passive income?
• How to earn $10,000 in passive income a month with these ASX dividend shares
• Sell alert! Why this expert is calling time on CBA shares and this top ASX 200 stock

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

Xero Ltd (ASX: XRO) shares are edging higher on Thursday.

At the time of writing, the accounting software stock is up 0.82% to $81.37.

It has been a much better story over the past month, with Xero shares gaining around 14% after falling to a 7-year low of $61.45 in late July.

But even after that rebound, the stock is still down close to 30% since the start of 2026 and more than 50% below its 52-week high of $166.

So, can Xero shares continue their comeback?

Xero is still growing

The share price has taken a beating, but the business itself is still growing at a decent rate.

Xero reported FY26 operating revenue of NZ$2.75 billion, up 31%, while annualised monthly recurring revenue jumped 37% to NZ$3.27 billion.

The company also added 506,000 customers during the year, taking its global customer base to 4.92 million.

Average revenue per customer rose 23% to NZ$55.44, while adjusted EBITDA increased 18% to NZ$757.4 million.

Net profit went the other way, falling 27% to NZ$167.4 million, with costs from the Melio acquisition weighing on the result.

Still, management expects another strong year ahead.

FY27 revenue guidance sits between NZ$3.62 billion and NZ$3.73 billion, which points to growth of around 30% at the midpoint.

And Xero still has plenty of room to grow. The company has previously estimated its total addressable market at around 100 million small and medium-sized businesses.

That compares with fewer than 5 million customers today.

What do the brokers think?

Despite the weak share price, several brokers still see plenty of upside.

Citi has a buy rating and $113.60 price target, while Morgan Stanley is even more bullish with a $130 target.

UBS sits at $127, Ord Minnett at $110, and Morgans at $111.

But there are some more cautious views as well. RBC Capital has a hold rating and $85 target, while Jefferies has a $77 target.

According to TipRanks, the average 12-month price target is $99.29.

That would put the shares around 22% above where they trade today.

Is the comeback getting started?

I think there’s still a bit more to prove before this rally can really get going.

Xero needs to keep growing while integrating Melio and making sure higher costs don’t eat too far into earnings.

However, the rebound from its $61.45 low is at least a sign that investors are starting to take another look at the stock.

At $81 a pop, Xero shares certainly look more appealing than they did when they were swapping hands for close to $200.

If the company delivers on FY27 guidance and keeps making progress in the US, the shares should keep climbing.

The post This ASX 200 tech giant is down 30% in 2026. Can it make a comeback? appeared first on The Motley Fool Australia.

More reading

• How I’d use ASX shares to build wealth outside my superannuation
• Xero shares jump 33% from a 7-year low: Buy, sell or hold?
• Are these ASX tech stocks finally a buy again?
• Why I think Xero and WiseTech shares are strong buys
• Here are the top 10 ASX 200 shares today

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Aaron Teboneras 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 Jefferies Financial Group and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Nine Entertainment Co. Holdings Ltd (ASX: NEC) share price is in focus after WIN Group announced it has increased its economic interest in Nine Entertainment to 31.18%, following on-market purchases of 47 million shares since April 2026. WIN Group’s voting power in Nine has also risen to 25.94%.

What did Nine Entertainment report?

• WIN Group acquired 47,012,885 Nine shares on market between 27 August and 3 September 2026.
• WIN Group’s aggregate economic interest increased from 28.22% to 31.18%.
• Voting power for WIN Group rose from 22.98% to 25.94%.
• No changes were made to WIN Group’s existing cash-settled equity swap position in Nine.
• Total shares held by WIN Group now stand at over 411 million.

What else do investors need to know?

Nine Entertainment disclosed these substantial shareholdings after receiving a formal update from WIN Group, led by Bruce Gordon through Birketu Pty Ltd and WIN Corporation Pty Ltd. The acquisitions reinforce WIN Group’s position as the largest shareholder in Nine, and mark a notable increase from its previously disclosed position in April 2026.

The move was disclosed in accordance with Takeovers Panel Guidance Note 20, ensuring the market is kept informed on changes that could affect control or influence within the company. Nine released the information to the ASX to maintain transparency and comply with regulatory requirements.

What’s next for Nine Entertainment?

Looking ahead, investors will be watching whether WIN Group continues to consolidate its interest in Nine Entertainment Co. Any further increases in shareholding or moves relating to the company’s strategic direction could influence future governance and business decisions.

The company plans to keep shareholders and the market informed about any future changes to major shareholdings, in line with its ongoing disclosure obligations.

Nine Entertainment share price snapshot

Over the past 12 months, Nine Entertainment shares have declined 41%, trailing the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.

View Original Announcement

The post WIN Group increases Nine Entertainment stake past 31% appeared first on The Motley Fool Australia.

More reading

• 40 ASX shares with ex-dividend dates next week
• 11 ASX 200 shares with reaffirmed buy ratings post-results
• Here are the top 10 ASX 200 shares today
• Nine Entertainment posts higher FY26 earnings and boosts digital focus

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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nine Entertainment. 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.