There are a lot of options on the ASX 200 index for investors to choose from.
But which ones are buys right now? Let's see what analysts at Morgans are saying about three popular stocks.
Image source: Getty Images
Breville Group Ltd (ASX: BRG)
Morgans was impressed with the appliance manufacturer's performance in FY 2025.
However, that isn't enough for a buy rating. The broker highlights that there is significant earnings uncertainty in FY 2026 due to US tariffs.
As a result, it has held firm with its hold rating with an improved price target of $36.05. It said:
BRG delivered a strong FY25 result, hitting the top-end of guidance and delivering ~15% NPAT growth on the pcp. Despite an otherwise positive result, featuring continued strong double digit coffee growth and broad-based region contributions, FY26 represents elevated earnings uncertainty as BRG navigates its US tariff manufacturing transition. While we see long-term value in the name, near-term earnings visibility is relatively low with a reset period ahead (MorgansF FY26F EBIT of -2%). Hold.
Goodman Group (ASX: GMG)
Unlike Breville, Morgans is confident in this ASX 200 stock's earnings growth outlook.
In light of this and its exposure to the booming data centre market, the broker thinks that investors should accumulate Goodman shares and has a $38.40 price target on them. It said:
GMG continues its growth trajectory, with FY26 guidance to see EPS increase 9% (vs pcp). The data centre buildout gathers pace and now represents 57% of Work In Progress (WIP) and will likely drive a higher production rate over the medium term (a key driver of development earnings). We continue to see the opportunity in GMG, which offers one of the highest quality exposures amongst our REIT coverage. So, whilst upside is limited, GMG offers long run exposure to a substantial data centre deployment and the stock remains a core portfolio holding, hence the ACCUMULATE recommendation and $38.40/sh price target.
Inghams Group Ltd (ASX: ING)
Finally, this ASX 200 stock disappointed with its full year results after a difficult fourth quarter.
Nevertheless, with the poultry producer's shares down heavily, the broker is starting to see value emerging. But not quite enough to warrant a buy rating. It has upgraded its shares to a hold rating with a $3.03 price target. It said:
ING's FY25 result came in at the lower end of guidance and missed consensus estimates after a challenging 4Q25. FY25 was impacted by one less trading week vs the pcp, weakness in all channels given cost of living pressures and the new Woolworths (WOW) contract. The Wholesale price was also extremely weak. FY26 guidance was materially weaker than expected. ING expects a challenging 1H26, followed by solid growth in the 2H26. More normalised operating conditions should eventuate in FY27. We have made significant revisions to our forecasts.
After the severe share price reaction, we upgrade to a Hold rating. With a weak 1H26 result, ING is lacking near term catalysts, however we have seen the company recover from these issues in the past. ING's attractive fully franked dividend yield will also likely provide some degree of share price support.
