S&P/ASX 200 Index (ASX: XJO) shares are 0.09% lower at 9,011.9 points on Friday.

Here are some new ratings from the experts this week. 

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is $77.74, up 1.1% today and down 14% over 12 months.

Morgans reaffirmed its accumulate rating on this ASX 200 consumer discretionary share after the company’s FY26 results.

The broker said: 

WES’s FY26 result was broadly in line with expectations, although trading in early FY27 was slightly softer, with management also flagging higher capex in FY27.

Management noted that while consumer demand remains resilient, cost-of-living pressures persist and customers continue to be value-conscious.

… our target price rises to $85.00 (from $81.10) as we believe the increased investments WES is making in the near term will drive sustainable growth over the long term.

This is particularly evident across its retail businesses (Bunnings, Kmart Group, Officeworks and Priceline), where investment should strengthen customer value propositions in a subdued consumer environment and position the divisions to capture stronger growth when economic conditions improve.

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price is $252.66, up 1.3% today and up 14% over 12 months. 

Morgans has a hold rating on this ASX 200 bank share.

Analyst Damien Nguyen said (courtesy The Bull): 

Macquarie benefits from a diversified global business spanning asset management, infrastructure, commodities and investment markets.

Earnings momentum has improved as transaction activity and market conditions have stabilised, while long term growth opportunities remain attractive.

However, a stronger share price and a cyclical earnings profile suggest much of the recovery is already reflected in its valuation.

We view the stock as fairly valued and maintain a hold recommendation.

The shares have risen from $196.47 on March 3 to trade at $251.01 on August 27.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price is $3.24, down 0.8% today and down 13% over 12 months.

Morgans kept a trim rating on this ASX 200 consumer staples share after Endeavour’s FY26 report.

Morgans said:

There were no major surprises in EDV’s FY26 result after the company pre-announced its key numbers (sales, underlying EBIT and underlying NPAT) in early August.

However, the outlook for costs was greater than anticipated as EDV increases investment to execute its new strategy.

Management noted that competition remains intense in the Retail segment, particularly in the online channel, while Hotels sales growth softened in early 1H27 across all key categories (food & beverage, gaming and accommodation).

We expect FY27 to be a disruptive year as EDV implements its transformation initiatives.

Liquor demand also remains under pressure from elevated interest rates, ongoing cost-of-living pressures and a subdued consumer environment.

The post Buy, hold, sell: Wesfarmers, Endeavour, Macquarie 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 positions in and has recommended Macquarie Group and Wesfarmers. The Motley Fool Australia has recommended Macquarie Group and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Corporate Travel Management Ltd (ASX: CTD) shares returned to the ASX on Thursday after 13 months in suspension. The reopening was every bit as brutal as feared.

The stock last traded at $16.07 before the halt began in August 2025.

It reopened near $3.00 and fell away from there.

That represents a decline of roughly 80% for a business that carried a $2.2 billion market capitalisation prior to its trading pause.

Why Corporate Travel Management shares were suspended at all

In essence, Corporate Travel Management could not lodge audited accounts while an investigation into its billing practices ran its course.

At the centre of it was more than $250 million of client overcharging, including roughly £80 million tied to UK government contracts.

The ASX gave the company until 31 August to file or lose its listing altogether.

It filed on 2 September and resumed trading the following day.

What the delayed accounts eventually showed

FY25 was a horrible year for Corporate Travel Management.

The company reported a statutory loss of $348.5 million, driven by $357.7 million of goodwill impairments spread across Europe, Australia and North America.

However, FY26 was different.

In FY26, revenue and other income rose 4% to $669.9 million while underlying EBITDA climbed 36% to $113.6 million.

Statutory net profit after tax reached $17.7 million, a swing of more than $366 million in twelve months.

Total transaction value hit $9.8 billion across 18.3 million transactions, with volumes up 13%.

Chief executive Ana Pedersen said the following of the results:

While our earnings remain below historical levels and there is still work to do, FY26 demonstrates meaningful progress in stabilising the business, strengthening our foundations and positioning CTM for growth.

The liability still on the balance sheet

Despite this positive momentum, investors may want to remain cautious. Customer-related liability stood at $260 million at 30 June 2025 and was forecast at $234 million a year later.

Roughly 78% of refunds are agreed or close to final, leaving about $55 million still to remediate.

Cash on hand is $106.9 million, supported by a $175 million committed facility from PEP Credit.

Dividends remain suspended, and the accounts carry a modified audit opinion.

These details will together keep a lot of institutional money out of Corporate Travel Management shares for now.

One piece of good news

The Department of Finance completed an independent review of the company’s Commonwealth travel arrangements on 31 August.

In its findings, it found no evidence of widespread or systemic overcharging on Australian government contracts.

That is important, because government work represents a meaningful slice of the revenue base.

Client retention held up elsewhere too.

The company secured $669 million of new business wins and $1.5 billion of re-tenders and renewals across FY26.

What has to go right for Corporate Travel Management shares

Three things need to go right for Corporate Travel Management shares for the company to recover.

Firstly, the remediation has to finish without the liability growing again.

Trading has to stabilise, and early FY27 is not encouraging on that front: July revenue came in near $53.3 million against $58.3 million in the same month last year.

The company also needs a clean audit opinion, and further guidance is not due until the annual general meeting in November.

Foolish takeaway

Corporate Travel Management shares are now priced as a distressed turnaround stock.

The company’s FY26 result shows an operating company that can still produce strong operational numbers.

However, what the results do not show does not describe is a settled balance sheet or a stable shareholder register.

Anyone buying here is betting that everything bad has now been disclosed.

I would want to see the FY27 accounts and an unqualified audit opinion before treating this stock as anything other than pure speculation.

The post Corporate Travel Management shares crashed 80% on their first day back. What happened? 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 positions in and has recommended Corporate Travel Management. The Motley Fool Australia has positions in and has recommended Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Megaport Ltd (ASX: MP1) is back on my radar after a pretty wild few months.

The S&P/ASX 200 Index (ASX: XJO) tech stock is up around 44% in 2026, but that figure hides just how much the share price has fluctuated.

Megaport traded below $7 in April, then surged past $20 and eventually hit a 52-week high of $22.98 last month. The shares have since fallen back to $16.93, although they are up 3.74% today.

I think that pullback has made the stock much more interesting.

Here’s why I think Megaport shares could still have much further to go.

FY27 could be a big one

Megaport’s FY26 result was strong, but it’s the outlook for FY27 that makes me particularly bullish.

Revenue increased 37% to $312.2 million, while EBITDA rose 24% to $77.1 million.

Management is now targeting FY27 revenue of between $620 million and $730 million, along with an EBITDA margin of 38% to 40%.

That would be a big jump from FY26, helped by the Latitude.sh acquisition and the expansion of Megaport’s compute business alongside its existing network operations.

There is also plenty of revenue already coming through the door.

Megaport has announced 3 major contracts worth a combined $506 million, which are expected to add around $129 million in annual recurring revenue (ARR).

There’s still plenty to deliver over the next 12 months, but I think those contract wins make the FY27 growth outlook very exciting.

Brokers are bullish

The broker outlook is another reason I think the recent pullback looks enticing.

TipRanks currently shows 9 buy ratings and no holds or sells among the ranked analysts covering the stock.

The average 12-month price target is $24.99, which is almost 50% above the current share price.

JPMorgan is the most bullish with a $28 target, while Macquarie is at $27.80, UBS is at $26.40, and Jefferies is at $26.

Morgans, Morgan Stanley, and RBC Capital all have $25 targets.

Even the lowest forecasts remain comfortably above today’s price, with Citi at $22.10 and Ord Minnett at $22.

Why it’s back on my buy list

What I like most here is that the share price has pulled back while the outlook for the business has improved.

Megaport shares are now more than 25% below their 52-week high, despite stronger FY27 guidance and several large contracts already secured.

Yes, there are still risks around spending and execution, but I think the current price looks much more attractive.

Add in the strong growth, AI exposure, and 50% broker upside, and I think Megaport is a bargain at these levels.

The post A 50% upside? This ASX 200 tech stock is back on my buy list appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of Motley Fool Money. JPMorgan Chase 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 JPMorgan Chase, Jefferies Financial Group, Macquarie Group, and Megaport. 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.