Buy, hold, sell: CBA, QBE, and Qantas shares

Let's see what analysts are saying about these shares.

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There are plenty of ASX shares for investors to choose from.

To narrow things down, let's see what analysts are saying about three popular shares, courtesy of The Bull. Here's what they are recommending:

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Commonwealth Bank of Australia (ASX: CBA)

The team at Medallion is siding with the majority of brokers by declaring CBA shares as sell.

While acknowledging that CBA is the highest-quality Australian bank, it feels that its valuation is stretched.

Medallion also highlights that its shares are trading at a significant premium to peers despite having similar earnings growth outlook. It said:

CBA remains the highest quality franchise among Australia's major banks, but the valuation now looks stretched. The stock trades on a price-to-earnings multiple well above its peers despite similar earnings growth prospects. The recent annual dividend yield around 3 per cent is modest compared with other income opportunities.

With credit growth slowing and net interest margins stabilising, we believe earnings momentum is unlikely to justify such a premium valuation. After a strong share price run, investors may want to consider taking profits and reallocating capital to more attractively valued opportunities.

QBE Insurance Group Ltd (ASX: QBE)

Over at DP Wealth Advisory, its analysts have named this insurance giant as a hold this week.

It acknowledges that QBE is a well-managed company, but has concerns over challenging trading conditions. It explains:

QBE is a well managed global business with a strong return on equity and improving profit margins. Adjusted return on equity was 19.8 per cent in full year 2025 compared to 18.2 per cent in the prior corresponding period. Gross written premiums grew 7 per cent. Insurance companies rely on investment returns, which is challenging in a volatile global market. We retain a hold recommendation given QBE is trading near a 12 month consensus valuation.

Qantas Airways Ltd (ASX: QAN)

Finally, due to the prospect of jet fuel prices steering higher for longer, the team at DP Advisory is staying clear of Qantas shares for the time being.

As a result, it has named the Flying Kangaroo as a sell this week and believes there are better options out there for investors. It said:

Qantas is a well managed domestic and international airline, holding a 70 per cent market share in Australia. The shares were trading at $10.65 on February 25, a day prior to the company posting its first half year result in fiscal year 2026. The stock was trading at $8.46 on March 19. Qantas announced on March 13, 2026 that it had settled a class action for $105 million regarding flight credits during COVID-19. The company has hedged jet fuel supply prices in the shorter term, but I'm concerned about the impact of possibly higher crude oil prices over the longer term.

I'm also mindful of the expense involved in Qantas upgrading its airline fleet after years of under investment by previous management as well as COVID-19. Qantas has a high fixed cost base. In my view, it's a cyclical stock due to its reliance on consumer and business sentiment. Other stocks appeal more at this point.

Motley Fool contributor James Mickleboro 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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