If you are looking for some new portfolio additions, then read on.
That's because analysts at Morgans have been busy updating their recommendations for the ASX 200 shares in this article.
Is it bullish, bearish, or something in between? Let's find out.
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Netwealth Group Ltd (ASX: NWL)
Morgans was pleased with this investment platform provider's half-year results, noting that its profit was ahead of expectations. It was also pleased to see that its guidance for FY 2026 has been reiterated.
In response, the broker has retained its accumulate rating with a $29.00 price target. It said:
NWL reported 1H26 Revenue +24.7%; EBITDA +24.0%; and Underlying NPAT +19.8% on pcp, delivering strong momentum across the group, which was ahead of expectations. FY26 EBITDA margin guidance was reiterated for, implying 2H26 is expected to see a step-up in investment vs 1H26 ahead of the formal launch of its Broker/iHIN offering in 3Q26. Netflow guidance was also reaffirmed, with the group confident of momentum into FY27 as it looks to further scale its offering. We make minor changes to our NPAT forecasts of +3%/-1%/-3%, overall, this sees our price target move to A$29.00/sh, and we retain our ACCUMULATE rating.
PLS Group Ltd (ASX: PLS)
Another ASX 200 share that delivered a solid result was PLS, which was formerly known as Pilbara Minerals. Morgans was pleased with its stronger than expected earnings and plans to restart the Ngungaju operation.
However, due to its current valuation, the broker has retained its hold rating and $4.60 price target. It explains:
1H26 result: solid result. Key positives: underlying EBITDA beat, Ngungaju plant restart confirmation and growth project studies brought forward. Key negatives: no dividend despite strong liquidity but ultimately this was not expected by most of the market. We maintain our HOLD rating with an unchanged A$4.60ps target price.
Regis Resources Ltd (ASX: RRL)
This gold miner delivered a half-year result slightly ahead of expectations. But the highlight was a significantly larger than expected dividend.
However, due to recent share price strength, Morgans has downgraded the ASX 200 share to an accumulate rating (from buy). It said:
RRL reported its 1H26 result which demonstrated a series of modest beats across both EBITDA and NPAT, complimented by dividend payment of A$0.15ps. Key positive: Introduction of a structured capital management framework, with semi-annual distributions targeted at 25–50% of cash build, provides improved visibility on shareholder returns and better aligns with RRL's leveraged exposure to the gold price.
The 15cps fully franked dividend materially exceeded both MorgansF and consensus expectations and reinforces the strength of current cash generation. Key negative: No material negatives from the result. Operational and financial metrics were largely pre-reported, and delivery was consistent with guidance.
