S&P/ASX 200 Index (ASX: XJO) shares closed higher on Thursday, up 0.27% to 8,618.4 points.
There are 11 market sectors comprising the ASX 200.
Let's take a look at some new ratings and 12-month price targets for four sector leaders.
ASX 200 sector leaders: Buy, hold, or sell?
Here's what the analysts at Morgans think of these four sector leaders.
1. Woodside Energy Group Ltd (ASX: WDS)
Oil & gas giant Woodside is the largest ASX 200 energy share with a market cap of $48 billion.
The Woodside share price closed at $25.55, up 0.59% yesterday and up 2.4% in the year to date.
Morgans has a buy rating on Woodside shares with a price target of $30.50.
The broker recently commented:
Growth to 2032 with net operating cash flow guided to ~US$9bn (+6% CAGR) with a pathway to ~50% higher dividends.
Execution remains best-in-class: Scarborough, Sangomar and Trion all tracking on time and budget. Louisiana progressing under de-risked funding structure.
2. Wesfarmers Ltd (ASX: WES)
Wesfarmers is the largest ASX 200 consumer discretionary share with a market cap of $93 billion.
The Wesfarmers share price closed at $82.01, up 0.35% yesterday and up 14.8% in 2025.
Morgans has a trim rating on Wesfarmers with a price target of $79.30 per share.
In a note, the broker explained:
While we continue to view WES as a core long-term portfolio holding with a diversified group of well-known retail and industrial brands, a healthy balance sheet, and an experienced leadership team with a strong track record of growth, trading on 35x FY26F PE we see the stock as overvalued in the short term.
3. Woolworths Group Ltd (ASX: WOW)
Woolworths is the largest ASX 200 consumer staples share with a market cap of $93 billion.
The Woolworths share price closed at $29.39, down 0.1% yesterday and down 3.5% in the year to date.
Morgans has a hold rating on Woolworths with a price target of $28.25.
The broker commented:
… we think the stock remains fully valued and prefer to wait for further evidence of improvement before reassessing our view.
4. Goodman Group (ASX: GMG)
Goodman Group is largest ASX 200 property share with a market cap of $60 billion.
The Goodman Group share price closed at $29.36, down 2.7% yesterday and down 18.5% in 2025.
Morgans has an accumulate rating on Goodman Group with a share price target of $36.30.
The broker says:
GMG continues to reiterate the immense data centre opportunity ahead – 5GW of potential capacity across key global gateway cities.
However, the longer time to develop these assets is seeing capital intensity increase as data centres form a larger proportion of work-in-progress (WIP).
… we attribute much of the recent share price decline to the shifting narrative around the outlook for hyperscale capex.
