Buy, hold, sell: New Hope, BOQ, Santos shares

Find out which shares brokers are most positive on.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) has fallen further into the red on Wednesday. At the time of writing, the index is down around 1%, with declines across the majority of shares.

Inflation concerns, fears about more interest rate increases, and rising oil prices are spooking investors this week.

New Hope Corporation Ltd (ASX: NHC), Bank of Queensland Ltd (ASX: BOQ), and Santos Ltd (ASX: STO) are just some of the many companies under pressure today.

Let's take a look at how their shares are tracking and what brokers tip next.

A man in his 30s with a clipped beard sits at his laptop on a desk with one finger to the side of his face and his chin resting on his thumb as he looks concerned while staring at his computer screen.

Image source: Getty Images

Hold New Hope shares

New Hope shares have fallen around 1.5% and are trading at $6.02 per share at the time of writing. After a rocky start to 2026, the thermal-coal miner's shares are now up around 49% for the year to date.

New Hope's operational picture has strengthened over the past couple of quarters, and its latest quarterly update in mid-August shows an increase in saleable coal production, higher coal sales, and an improved underlying EBITDA. 

The company also expects its Bengalla mine to return to its targeted production rate, and a ramp-up of production at its New Acland mine.

Brokers are mostly optimistic about the outlook for New Hope. But after the latest price rally, some are concerned that the shares are now fully priced. Market Index data shows the majority have a hold rating on the ASX shares. The $5.67 target price implies around a 6% downside, at the time of writing.

Hold BOQ shares

BOQ shares were caught up in an ASX bank stock sell-off throughout August. Investors have become spooked about how banks will cope with falling mortgage demand, a weaker housing market, higher inflation, and renewed concerns about interest rate hikes.

The intermediate bank's shares have had a volatile run this year. They've fluctuated anywhere between a high of $7.43 and a low of $5.91. 

At the time of writing, BOQ shares are down slightly, around 0.1%, and trading at $6.56 a piece. The shares are now around 1% lower year to date.

In early August, BOQ announced a $295 million capital return to shareholders and a fully-franked special dividend of 15 cents per share.

The bank also reported a $47 million pre-tax ($33 million post-tax) impairment charge. This was related to technology and other asset reviews and will be recognised as a notable item in its FY26 results. BOQ is expected to post its full-year FY26 results in mid-October.

Investors weren't thrilled with the update, and its shares tumbled around 6% shortly following the results announcement.

And it looks like the shares are still trading above fair value. According to Market Index, the majority of brokers have a hold rating on the shares. But the $6.06 average target price still implies a potential downside of around 8%, at the time of writing.

Buy Santos shares

Santos shares have trended higher so far in 2026, as recurring tensions between the US and Iran continue to fuel concerns over global oil supplies and support energy prices. 

Then, in mid-August, the shares spiked to a four-year high of $8.45 per share after the company posted its FY26 results.

Santos reported a 2% year-on-year increase in sales revenue to US$2.62 billion. Production volumes were also higher, up 1.7% to 48 million barrels of oil equivalent (mboe).

But the oil and gas giant also posted a 19% decline in its half-year statutory net profit after tax (NPAT), which fell to US$355 million. 

At the time of writing, Santos shares are down around 0.3% and changing hands at $8.26 per share. The share may have softened slightly today, but over the past month, Santos shares are up around 8%, and they're 34% higher year to date.

And going forward it looks like they could climb even higher. Market Index shows that all brokers have a strong buy rating on the shares. And the $8.57 average target price implies a potential 4% upside, at the time of writing.

Motley Fool contributor Samantha Menzies 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.

More on Broker Notes

Woman and man worker in quarry on excavation machine looking at a clipboard.
Broker Notes

Up 57%! Should I still buy Rio Tinto shares today?

A leading analyst provides his forecast for Rio Tinto’s rocketing shares.

Read more »

A guy shrugs his shoulders, not sure which is the right decision.
Broker Notes

Buy, hold, sell: South32, Australian Finance Group and Magellan shares

One downgrade, one warning, one buy.

Read more »

A man in a business suit slides down the handrails of a bank of steel escalators, clutching his documents and telephone.
Broker Notes

9 ASX shares downgraded by experts post-results this week

Brokers have downgraded WiseTech, Ampol, Perseus Mining, Harvey Norman, and others.

Read more »

Woman using her laptop with her feet up.
Broker Notes

Buy, hold, sell: Wesfarmers, Endeavour, Macquarie shares

Analysts rate this ASX 200 retail and industrial conglomerate, liquor retailer, and investment bank.

Read more »

A boy dressed in a business suit and old-fashioned flying helmet and goggles is lifted by a bunch of red helium balloons over a barren desert landscape.
Broker Notes

8 ASX shares upgraded by the professionals post-results this week

Brokers raised their ratings on Telstra, Paladin Energy, Magellan, and other shares this week. 

Read more »

Stacked gold bricks.
Broker Notes

Up 83%! 4 reasons I'd still buy this $8 billion ASX 200 gold stock today

A leading expert forecasts more outperformance from this surging ASX gold stock.

Read more »

Two work colleagues looking at a laptop and discussing something.
Broker Notes

Buy, hold, sell: Flight Centre, Qantas, and Wesfarmers shares

Is Morgans positive on these shares? Let's find out.

Read more »

A woman in a red dress holding up a red graph.
Broker Notes

2 ASX small caps which could deliver 50% to 90% returns

Recent share price weakness could be a buying opportunity.

Read more »