There are lots of ASX shares to choose from on the Australian share market.
So, to narrow things down, let's see what Morgans is saying about the three in this article.
Are they buys, holds, or sells? Here's what it is recommending:
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Deterra Royalties Ltd (ASX: DRR)
Morgans is a fan of this mining royalties company. It was pleased with Deterra Royalties' FY 2026 results and the quality of its earnings.
As a result, the broker has retained its buy rating with a $4.85 price target. It said:
A FY26 result that offered few surprises, but highlights DRR's quality earnings. EBITDA was -1% yoy, while underlying NPAT was +14% yoy. Final dividend of A 10.8cps trailed our estimate by 4%. A good business with an irreplaceable royalty at Mining Area C, and steady progress developing Thacker Pass (lithium royalty), but earnings growth from here is reliant on expanding its portfolio. We maintain a BUY rating, with a A$4.85 target price. DRR could benefit from a growing number of investors seeking inflation protection while also offering an above-market yield.
GQG Partners Inc (ASX: GQG)
This fund manager's half-year results were a touch short of the broker's expectations.
In response, Morgans has retained its accumulate rating (between buy and hold) with a trimmed price target of $1.52. It also highlights the potential for a significant dividend yield in the near term. It said:
GQG's 1H26 NPAT of US$228m, was -1% on the pcp, but +2% above consensus (US$225m). We would summarise this result as resilient margins in a tough operating environment, offset by the key concern that GQG's investment performance is materially lagging its benchmarks on both a 1 and 3-year basis. In a shock, management also flagged GQG is now overweight technology and semiconductor stocks, except within its emerging markets portfolio.
We leave GQG FY26F EPS forecasts largely unchanged, but lower outer years 3%–5% on reduced net flow assumptions; our GQG price target falls to A$1.52 (from A$1.66). The near-term operating environment remains difficult for GQG; however, we think it's hard not to see long-term value in the franchise at current levels, trading on ~7x FY1 PE with a ~>10% dividend yield. ACCUMULATE.
TPG Telecom Ltd (ASX: TPG)
Morgans notes that this telco delivered half-year results and full-year guidance that were largely in line with expectations.
In light of this, the broker has responded by retaining its accumulate rating and $4.00 price target on TPG Telecom's shares. It commented:
TPG's 1H26 results and reiteration of full-year guidance were largely in line with expectations. For us the highlights were: a clean and easily digestible set of accounts that sets the path for growth; double-digit growth in FCF to equity; and an 11% YoY increase in the dividend to 10cps, which is now 25% franked. We make immaterial forecast changes, retaining our $4 target price and our Accumulate recommendation.
