The S&P/ASX 200 Index (ASX: XJO) has sunk lower again in early morning trade on Wednesday. Here's how three major ASX shares, Woodside Energy Group Ltd (ASX: WDS), New Hope Corporation Ltd (ASX: NHC), and Flight Centre Travel Group Ltd (ASX: FLT) are tracking today, and what brokers expect next.
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Brokers rate Flight Centre shares as a BUY
Flight Centre shares have fallen around 1% to $10.16 in Wednesday morning trade. The ASX travel shares have now fallen around 26% since the company posted a weaker FY26 result in late-August. They're also down 32% for the year-to-date. Flight Centre hasn't posted any price-sensitive news since its results announcement.
The company faced several headwinds through its fourth quarter after conflict in the Middle East disrupted global travel plans. Its FY26 underlying profit before tax came in around 2% below market expectations and its leisure division missed consensus by about 8%.
The company also expects travel to be subdued through the first half of FY27 while the conflict still goes unresolved. Flight Centre expects corporate earnings to be more heavily weighted toward the second half, with first-half profit likely to come in below last year.
Investors aren't impressed, and Flight Centre's share price continues to be depressed.
But the experts are much more bullish. Market Index shows that the majority of brokers still have a strong buy rating. The $13.75 average target price implies an upside of around 35%, at the time of writing.
Brokers rate Woodside shares as a HOLD
Woodside shares are climbing higher on Wednesday, up around 0.5% to $32.92 at the time of writing. The ASX energy shares have now climbed nearly 7% higher in October so far, and they're up around 39% for the year-to-date.
There isn't any recent price-sentivie news out of the oil and gas major to explain this month's rebound. The increase in investor interest is mostly likely the result of a climbing oil price.
Trading Economics data shows that crude oil is close to US$95 per barrel, marking its fifth consecutive session of gains as conflict between ITan and Saudi Arabia intensifies further, renewing concerns about global oil supply out of the region.
Woodside shares are also gathering investor attention following the company's first-half FY26 update in August. The company reported a 13% increase in operating revenue, a 27% increase in NPAT, a 7% increase in underlying NPAT, and a huge increase in free cash flow to US$352 million.
This past year has been a great success story for Woodside shares, but it looks like the shares could now be at, or past, fair value.
Market Index data shows that all brokers have a hold rating on the shares. And thanks to the latest rally, the $28.51 average target price implies a downside of around 13%, at the time of writing.
Brokers rate New Hope shares as a SELL
New Hope shares are roughly flat, at $6 each, at the time of writing on Wednesday morning. The thermal coal miner's shares have had a rocky ride over the past 12 months, fluctuating between $3.77 and $6.61. But they're now up around 48% for the year-to-date.
The miner lost some investor confidence last month after it posted its latest coal production update. But it flagged that weaker coal prices hit earnings hard, with its underlying EBITDA falling 32.8% to $514.3 million. Net profit after tax (NPAT) also came in at $161 million, down 63.4% from the previous year.
The experts were also unimpressed, saying that the results came in below expectations.
Market Index shows that the majority of brokers now have a sell rating on New Hope shares. The $5.68 average target price now implies a downside of around 5%, at the time of writing.
