Buy, hold, sell: Liontown, Collins Foods, and Goodman shares

Morgans has been looking at these shares this week. Is it bullish?

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The team at Morgans has been busy running the rule over the popular ASX shares in this article.

Let's find out if the three have been given buy ratings or something else this week. Here's what you need to know:

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Collins Foods Ltd (ASX: CKF)

Morgans is feeling positive about this KFC-focused quick service restaurant operator.

In response to a positive trading update, the broker has retained its buy rating and $10.60 price target on Collins Foods shares. It said:

CKF's AGM trading update was positive. Group sales rose 6.6% over the first 17 weeks of FY27, with Australia resilient and European SSS (same-store-sales) inflecting from the weak start over the last 4 weeks, which we view positively in a tough consumer environment. 

Trading strengthened through the last 4 weeks, with KFC SSS of +3.1% in AU, +3.1% in the Netherlands, driven by the new Halal-certified range, and -0.1% in Germany, a material improvement on the -7.8% (Netherlands) and -7.2% (Germany) start over the first 8 weeks. We retain our BUY rating and A$10.60 target price; Australia is resilient and Europe is re-accelerating.

Goodman Group (ASX: GMG)

The broker highlights that this industrial property giant delivered a result in line with expectations last month.

And while its result wasn't quite enough to justify a buy recommendation, the broker has retained its accumulate rating (between buy and hold) on Goodman shares with a $33.20 price target. It explains:

GMG's FY26 result (reported 20-August) was solid and in line at the headline, with OEPS of 129.9cps (+10.1% on pcp) matching both MorgansF and consensus. In terms of composition, development earnings (+34% on pcp) carried the result, offsetting softer Management and Property investment earnings. The market remains focused on the pending data centre pipeline, with WIP having increased 53% to $19.7bn (78% data centres) at an 8.2% yield on cost. 

Leasing is progressing alongside construction, but with only a single 50MW Tokyo lease signed, investors are looking for further hyperscale conversions. We remain positive on the medium-term earnings trajectory, underpinned by a funded development book, low gearing (6.5%, 19.5% look-through) and scarce metro land and power. We retain our ACCUMULATE rating with a $33.20/sh TP.

Liontown Ltd (ASX: LTR)

This lithium miner reported operating earnings that were softer than consensus estimates but in line with Morgans' expectations.

And with its outlook in FY 2027 unchanged, the broker has retained its accumulate rating on Liontown shares with a $1.40 price target. It said:

FY26 underlying EBITDA missed consensus estimates but was in line with MorgansF, while underlying NPAT beat expectations as the company swung to a net profit from a loss in FY25. FY27 outlook was unchanged with guidance already provided at the 4Q26 result and today's release contained no material updates on the Kathleen Valley expansion timeline or ramp-up. FID for the expansion is expected by the end of 1Q27. Maintain ACCUMULATE with a A$1.40ps target price.

Motley Fool contributor James Mickleboro has positions in Collins Foods and Goodman Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Collins Foods and Goodman Group. 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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