In that span, its share price has risen over 87%, including 37% in 2026. 

A new report from the team at Bell Potter suggests this growth is likely to continue thanks to several tailwinds. 

Company overview 

PYC is a clinical-stage biotechnology company developing multiple drug candidates for rare inherited diseases. 

The company has its HQ, lab facilities, and majority of staff based in Perth, WA, as well as personnel based in the US for clinical, regulatory, and manufacturing functions. 

The company develops novel drug candidates using its internal technology platform, consisting of targeted RNA therapies called antisense oligonucleotides and proprietary drug delivery technology referred to as cell penetrating peptides.

The team at Bell Potter believes its strong growth profile could lead to further growth in the next 12 months. 

Making progress

Bell Potter remains positive on this ASX stock. 

It has a speculative buy rating and increased price target of $3.00 (previously $2.30) on the company. 

Much of the optimism centres around its PYC-003 experimental drug candidate being developed to treat autosomal dominant polycystic kidney disease (ADPKD). 

The genetic condition that causes cysts to grow in the kidneys. 

Early safety results are encouraging, with only 10% of 50 single-dose subjects reporting treatment-related side effects, none serious, and no concerning kidney, liver, magnesium or potassium changes.

The big test now is whether PYC-003 actually works. 

Efficacy data from single-dose studies are expected in the next 1–2 months, while the more important 6-12 month repeat-dose results are expected in 2H 2027 and 1H 2028. 

With around 120,000 US Type 1 ADPKD patients, Bell Potter sees a potential US$12bn+ market, while PYC's ~$670m cash balance provides strong funding. 

In short, the safety story looks good, but clinical efficacy will determine whether the big potential becomes reality.

Strong upside 

If this ASX stock was to reach Bell Potter's target, it would be a further 30% increase from current levels. 

The next 12 months are likely pivotal for the biotech company. 

PYC is fast approaching a crucial window for this asset with upcoming efficacy data from single-dose studies in the next ~1-2 months and, more importantly, data from repeat-dose studies after 6-12 months of treatment expected in 2H CY27 and 1H CY28. It is these latter readouts which will be highly instructive for demonstrating whether PYC's compelling preclinical data package translates into improved clinical outcomes in patients. The company has a war chest of ~$670m cash as at 30-June-2026 for which it can freely prosecute its clinical development objectives across multiple assets well into the 2030s.

The post This exciting ASX biotech stock is up 37% year to date and tipped to keep rising appeared first on The Motley Fool Australia.

The mineral exploration company rose 10% on Monday, and is now up an impressive 770% in the last 12 months. 

Why is this ASX materials stock soaring?

Solstice Minerals is a Western Australian copper-gold explorer focused on its flagship 100%-owned Nanadie Copper-Gold Project (Nanadie). 

It has been one of the copper shares to exploded in the last year.

This has come because investors are simultaneously pricing in record copper prices, tightening supply and a structural demand boom. 

At the same time, AI data centres, electricity grids, EVs, renewables and broader electrification are creating a powerful long-term demand story for copper.

Additionally, U.S. tariff uncertainty has pulled large volumes of metal into America and further tightened availability elsewhere. 

ASX copper miners have relatively fixed operating costs. This means every extra dollar in the copper price can translate into disproportionately higher margins, cash flow and project valuations. 

This has resulted in investors aggressively rerating both established producers and smaller exploration/development stocks. 

Why this stock can keep rising

A new report from Bell Potter has suggested this ASX materials stock still has more room for growth. 

The report highlighted that When the company bought the Nanadie site, the estimated resource was 40.4 million tonnes at about 0.40% copper, plus gold and silver.

However, since then, drilling results suggest that Nanadie is much larger than previously thought.

The mineralised zone is now around 100-200 metres wide, has been drilled to about 840 metres downhole, and extends over at least 1.3 km of strike. It is still open, meaning it could become larger.

In simple terms, Nanadie was originally thought to be a modest copper deposit. Drilling is showing that it could be a much bigger and potentially higher-grade deposit.

If the resource continues to grow and the project can eventually be developed into a mine, the company could be worth substantially more than it is today.

Big upside and buy rating 

Based on this analysis, Bell Potter has initiated coverage on this ASX materials stock with a speculative buy rating and $3.25 valuation. 

From yesterday's closing price, this indicates an upside potential of approximately 32%. 

We initiate coverage of SLS with a SPECULATIVE BUY recommendation and a A$3.25/sh valuation. Nanadie is a genuinely large and still growing copper- gold system on granted mining tenure in a Tier-1 mining jurisdiction. We expect SLS will re-rate on release of ongoing exploration results and project development studies.

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Select Harvests is an integrated grower, processor and marketer of almonds owning and operating farming and processing assets in Australia. 

It offers a vertically integrated model with core capabilities in farming, processing and marketing.

The company has experienced some significant volatility over the past 12 months. Its share price has fluctuated between highs of $5.20 and lows of $3.50. 

It currently sits on the high end of this range, closing trading yesterday at $4.90. 

However, the team at Bell Potter believe it could be set for significant growth in the next year. 

Almond prices continue to strengthen 

According to a new report from Bell Potter, almond prices have continued to strengthen, implying upside to consensus FY27e expectations. 

US almond prices are up around 20% since SHV's 1H26 results, driven by smaller kernels and expectations that US production will again fall short of USDA forecasts.

While the price increase is unlikely to have much impact on FY26 earnings, it significantly improves the FY27 outlook. 

Bell Potter believes consensus pricing of around A$10/kg is too conservative compared with current spot prices of about A$12/kg.

Input costs are starting to ease, although Bell Potter remains cautious because the company has already locked in fertiliser costs for FY27 and water costs/requirements may remain elevated due to the drier seasonal outlook. They expect costs to move closer to long-term averages from FY28.

Based on this guidance, Bell Potter has increased its almond price assumptions, resulting in FY27 EPS being upgraded by 20% and FY28 EPS by 5%. 

Target price rises 

The broker has subsequently raised its target price to $6.05 (previously $5.30). 

From current levels, this indicates an upside potential of 23% for this ASX consumer staples stock.

Almond prices are strengthening and the SHV share price has lagged this move, continuing to trade below its market backed asset value of ~$5.30ps. At spot almond price levels, we would estimate FY27e EPS in a range of 53-72¢ps based on production guidance comparable to FY26e (i.e. 28,000-31,000kt), a level materially higher than the current consensus EPS level of ~37¢ps. The longer-term almond thematic has always been the key attraction to SHV, however, there is the scope for a near term sugar hit should the current positive market backdrop remain in place.

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ASX energy shares have enjoyed strong returns in 2026, as robust commodity prices, strong demand and improving investor sentiment have boosted the sector.

However, it hasn't been all smooth sailing for the aforementioned stocks. 

Boss Energy has actually dipped 8% year to date. 

Meanwhile, Paladin Energy has risen 11% year-to-date.

For comparison, the S&P/ASX 200 Energy (ASX: XEJ) is up almost 30% year-to-date. 

Here is what's behind the optimism for these two ASX energy shares from Bell Potter. 

Investor day reaffirms confidence for Paladin 

In yesterday's report, Bell Potter said it remains positive on this ASX energy stock, with no changes to its modelling or earnings outlook following the company's investor day.

The company is focused on optimising production at Langer Heinrich, while progressing Paterson Lake South (PLS) toward potential production in 2031.

The broker highlighted that Paladin has strong exposure to rising uranium prices. 

Additionally, planned 30,000m of drilling in FY27 could expand resources and mine life, providing further upside. 

Overall, Bell Potter sees the investor day as confirmation of the existing investment case rather than a reason to change its forecasts.

Based on this guidance, the broker has a buy recommendation and $14.80 price target, indicating 31% upside from current levels. 

Bell Potter isn't the only broker with a positive outlook. 

Recently, Canaccord Genuity renewed its buy rating on Paladin Energy shares.

The broker raised its 12-month price target from $15.40 to $15.80.

Boss Energy also a buy

The team at Bell Potter has also retained its buy recommendation on Boss Energy shares. 

The broker commented on the new feasibility study (NFS) from the ASX energy company for its Honeymoon operation. 

According to the report, the new well design uses fewer wells and longer uranium recovery times, which management expects will improve recovery to 90% from 80%.

Overall, the new study improves operational efficiency and recovery, but comes with higher costs and capex.

We maintain our Buy recommendation. The Honeymoon NFS provides clarity on the cost outlook and a clear pathway to steady-state production. BOE has leverage to rising uranium prices, on which we hold a positive long-term view.

The broker has an updated price target of $1.70 on this ASX energy stock, indicating 18% upside from current levels. 

The post These 2 ASX energy shares have 18-31% upside according to Bell Potter appeared first on The Motley Fool Australia.

GrainCorp is an agribusiness and processing company with a history spanning more than 100 years. 

The company operates the largest grain storage and logistics network in eastern Australia.

GrainCorp also provides grain marketing services to all major grain-producing regions in Australia as well as to its overseas growers. 

Its share price is down almost 23% over the last year. 

However a new report from Bell Potter suggests it could be a value opportunity for this ASX 200 stock following an update. 

Strong update 

In yesterday's report, Bell Potter said that GrainCorp's earnings outlook is improving due to both higher crop volumes and stronger margins. 

The Australian Bureau of Agricultural and Resource Economics (ABARE) has upgraded its 2026-27 east coast winter crop forecast by 2.8mt, or 12%, to 26.6mt, with particularly strong improvements in NSW and Victoria. 

Although this remains below the previous year's crop, the forecast is around the five-year average.

According to the broker, the company may process less grain from the summer harvest than last year, but it is expected to make more money from each tonne it processes. 

The expected summer crop is falling from 4.6 million tonnes to 3.4 million tonnes, but the profit margin on processing oilseeds is looking much stronger. 

This improvement is partly because crops in the Northern Hemisphere are weaker while Australia's crop outlook is improving, creating more favourable pricing conditions for the ASX 200 company. 

So, while volumes are down, higher margins could more than make up for it and support stronger profits.

Big price target upgrade 

Based on this guidance, Bell Potter has upgraded its FY27 EBITDA estimate by 15% and raised its target price from $5.90 to $7.15 per share. 

From current levels, this indicates a 14% upside. 

The ABARE crop report is positive and likely to lead to consensus upgrades. However, the margin backdrop at this point, in terms of both grain basis and oilseed crush margins, looks possibly the strongest it has for three years. To us this is key, as consensus FY27e expectations (which this crop estimate underwrites) looks to be carrying forward the margin environment of FY25-26e, which was materially weaker. This implies that there is both volume and margin upside potential within consensus FY27e expectations.

The post This ASX 200 stock just got a big upgrade from Bell Potter appeared first on The Motley Fool Australia.

But even extending a lens to just the ASX 300 can lead to more growth-focused opportunities.

That is exactly the case with ASX 300 stock Catalyst Metals Ltd (ASX: CYL). 

Company overview 

Catalyst Metals is a mid-tier Australian gold producer and developer. It holds 100% ownership of two key projects.

The first is the Plutonic Gold Operation in Western Australia, an operating, multi-mine gold production centre targeting 100,000 to 110,000 ounces of gold in FY26.

The second is the Bendigo Gold Project in Victoria, an advanced exploration project.

Its share price has hovered between $4.40 and $9.80 over the past 12 months. Right now, it sits in between these yearly highs and lows. 

However the team at Bell Potter is bullish this ASX 300 stock could explode over the next 12 months.

The broker provided updated guidance on the company following its FY26 results. 

Solid results 

According to Bell Potter, this ASX 300 stock delivered a solid FY26 operational result. It reported revenue of A$632m, EBITDA of A$303m and NPAT of A$171m. 

While these earnings were below Bell Potter's expectations, the EBITDA shortfall was largely due to a A$49m legal settlement; excluding this, underlying EBITDA of A$352m was only about 5% below forecast.

The company also made good progress on growth projects and exploration. 

The Trident underground resource increased to 1.1Moz at 5.4g/t, while the Cinnamon discovery provides additional exploration upside. Cash and bullion increased by A$101m to A$331m, with no debt, and liquidity was subsequently strengthened to A$531m after the revolving credit facility was doubled to A$200m.

Overall, Bell Potter's message is that FY26 was a building year: operational performance was broadly on track, the balance sheet strengthened, and significant investment was made in future production growth. 

The key upcoming catalyst is the September FY27 guidance and 10-year plan, which should provide greater clarity on how quickly Catalyst can move toward its ~200kozpa production ambition.

89% upside for this ASX 300 stock

Based on this guidance, Bell Potter has retained its buy recommendation along with an updated price target of $12.80. 

From current levels, this indicates an upside potential of 89%. 

FY26 was a significant year for CYL, building operationally and financially YoY, achieving guidance. Our FY27 outlook remains unchanged (128koz for $2,833/oz AISC), subject to the September 2026 guidance and strategy release.

The post This exciting ASX 300 stock has 89% upside: Broker appeared first on The Motley Fool Australia.

Investors were gobbling up this stock following its full-year results. 

During FY26, HMC Capital expanded across all major verticals. 

Included in the results yesterday:

• Operating EPS (pre-tax) of 40.4 cents per share, in line with FY26 guidance
• Underlying EPS (pre-tax) of 30.2 cents, excluding discontinued operations
• Fee-generating AUM grew 15% to $16.9 billion
• Recurring funds management revenue up 22% to $165.5 million
• FY26 dividend declared at 12.0 cents per share
• Tangible assets and undrawn debt capacity of $1.9 billion. 

Investors were seemingly pleased with this ASX financials stock as its share price rose over 11% on the back of the announcement. 

Despite the rise, HMC shares still sit well below yearly highs. In good news for prospective investors, the team at Bell Potter see yesterday's gain of a sign of what's to come in the next 12 months. 

Great results 

Bell Potter's view is very positive, essentially arguing that the FY26 result sets up a stronger FY27 and that there is further upside beyond current guidance.

This ASX financials stock delivered FY26 pre-tax EPS of 40.4c, slightly ahead of Bell Potter's expectations and well above consensus. 

More importantly, management guided to FY27 underlying EPS of at least 35c, versus 30.2c in FY26, implying roughly 16% underlying earnings growth.

The broker also highlighted that the balance sheet provides another potential upside lever. 

HMC has around $500m of undrawn debt capacity, while its FY27 guidance does not assume any further capital recycling. 

Given HMC has previously generated significant earnings from recycling its investments, Bell Potter believes there could be another $25–50m of underlying earnings upside if capital is deployed or recycled effectively.

As a result, Bell Potter has increased its FY27-FY29 post-tax EPS estimates by 25-30%.

Buy rating retained for this ASX financials stock

Based on this guidance, Bell Potter has retained its buy recommendation for this ASX financials stock. 

The broker has also upgraded its price target $4.20 (previously $3.85), which indicates an upside potential of approximately 29%. 

We recently upgraded HMC to Buy, with today's result giving us confidence that HMC is turning the corner from an earnings momentum perspective, and indeed HMC has articulated a clear message that earnings upside to items not included in guidance (eg capital recycling) exist. As headwinds turn to tailwinds, HMC screens inexpensively trading at just 9.3x 1yr forward underlying earnings.

The post This ASX financials stock just soared 11% on results and is tipped to keep rising appeared first on The Motley Fool Australia.

However COVID-era growth proved unsustainable and inflation, higher interest rates, weaker franchisee economics and disappointing international expansion hurt profits.

Fast forward to 2026, and Domino's shares have hovered around $20 per share – a huge pullback from pandemic levels. 

Yesterday, the popular pizza franchise released its full-year results, prompting a heavy sell-off among investors. 

What did Dominos report?

As reported by The Motley Fool yesterday, the company's FY26 results showed an 11% decline in revenue to $2,046.1 million and a statutory net loss after tax of $134.2 million.

Other results included: 

• Underlying NPAT: $121.6 million, up 4.0%
• EBITDA: $325.4 million (underlying, down 6.1%)
• Final dividend: 32.5 cents per share, unfranked (total FY26 dividend 57.5 cents, down 25.3%)
• Net tangible assets per share: $5.04. 

Investors were clearly not impressed with the result, as the share price dipped 6%. 

However, the team at Bell Potter has a more balanced view moving forward. 

What is Bell Potter's view on Dominos shares?

Bell Potter viewed Domino's result as broadly in line with expectations, with underlying NPAT of at the top end of guidance, supported by cost reductions and lower interest costs. 

Free cash flow of $164.1m was also strong, helped by lower capex, working capital improvements, capital management and favourable tax timing.

The main negative was weaker sales, with network sales down 4% and FY26 same-store sales growth (SSSG) declining 4.1%, led by Asia, ANZ and Europe. 

More concerning were the first eight weeks of FY27, when SSSG fell 5.8%, a significant deterioration from the -0.9% seen in FY26 and -1.3% in FY25, which likely contributed to the sharp share price decline.

Bell Potter has downgraded its revenue and EBITDA forecasts for FY27-29 to reflect the ongoing weak sales environment and softer consumer conditions, although it expects sales to recover to low single-digit growth by FY28. 

Despite the revenue downgrades, lower expected interest costs have led Bell Potter to raise its NPAT forecasts by 7%/6%/5% for FY27/28/29, respectively.

Hold recommendation for Domino's shares

Based on this guidance, the team at Bell Potter has retained its hold recommendation on Domino's shares. 

However, the broker raised its price target to $20.15 (previously $18.50). 

This updated target indicates roughly 7% upside. 

Without SSSG, operating leverage remains limited; and without leverage, temporary cost-out measures can only support earnings for so long before underlying operating profits come under pressure. We therefore remain HOLD rated pending clearer evidence of a sustained improvement in trading.

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Regal Partners provides investment management services. It offers access to a diverse range of strategies covering hedge funds, private markets and real assets.

Over the last 12 months, it has experienced some volatility, and is down 3% in that span. 

However, following the release of full-year results, the team at Morgans have an improved outlook on the ASX 300 stock moving forward. 

What did this ASX 300 stock report?

In strong news out of the company, Regal Partners reported normalised NPAT of $93.3 million for the half, more than doubling the previous year. Funds under management rose to $21.4 billion, supported by record net inflows.

Other results included: 

• Normalised fully diluted earnings per share of 21.4 cents, up 104%
• Fully franked interim dividend of 12 cents per share declared for 1H26
• Balance sheet with approximately $290 million in capital post-dividend. 

The stock price has climbed more than 6% since Monday when these results were announced. 

The team at Morgans believe this is a sign of what's to come over the next 12 months. 

What did Morgans have to say?

The team at Morgans said this ASX 300 stock has delivered another solid result. 

It was moderately above prior guidance (NPAT of "at least $90m" in July-26), resulting in Normalised NPAT increasing 108% (vs pcp) to $93.3m, supported by performance fees which increased 180% (vs pcp) to $119m. 

Importantly, the largely recurring management fees increased 14% (vs pcp), while the business trades on <10x PER. Phil King's intended retirement is likely to continue weighing on the market, something we believe investors will overcome as the deep bench gains in profile (and presumably performance persists). On this basis, we retain our Buy recommendation with a $4.25/sh price target (previously $4.00).

Based on this updated price target, the broker sees approximately 50% upside from current levels. 

Elsewhere, Bell Potter has retained its buy rating and $4.80 price target on the company, suggesting 70% upside. 

Don't forget the dividend 

If 50% upside isn't enough, this ASX 300 stock also offers a very attractive dividend yield. 

Bell Potter is forecasting fully franked dividends per share of 19 cents in FY 2026, 20 cents in FY 2027, and then 22 cents in FY 2028. 

This represents yields of 6.7%, 7.1%, and 7.8%, respectively.

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Two that have just received renewed buy ratings are Genesis Minerals Ltd (ASX: GMD) and DigiCo Infrastructure REIT (ASX: DGT). 

Genesis Minerals is an Australian gold mining, project development, and exploration company.

Meanwhile, DigiCo is a data center REIT and developer operating across Australia and North America.

These ASX shares have performed very differently over the past 12 months. Genesis has risen over 100%, while DigiCo has fallen by 21% over the same span. 

Despite this varying performance, brokers see upside for both ASX shares. 

DigiCo a bounceback candidate

The team at Morgans provided updated guidance on this REIT following the release of its full-year results late last week. 

The company reported FY26 underlying EBITDA of $127 million, surpassing its $125 million guidance, and declared a 12.0 cent per security distribution, in line with its forecast.

The broker said the reported signed Letters of Intent (LOIs) would take the Australian portfolio to full capacity – a strong demand signal that de-risks management's pathway to $250m of EBITDA. 

However the ramp-up in earnings is back-ended, hence FY27 guidance was ~8% below MorgansF and ~13% below Consensus. Liquidity of ~$1.2bn funds the ~$1.2bn capex bill, with management calling out no need for additional equity. We still see clear value, but the cashflows are pushed out – this is now an FY28-into-FY29 story. Target price unchanged at A$3.60; reaffirm BUY.

From yesterday's closing price of $2.48, this price target indicates more than 45% upside. 

Genesis Minerals had a "transformative" year

Following the release of FY26 results last week, the team at Bell Potter retained its buy recommendation on these ASX shares. 

Genesis doubled EBITDA and paid its maiden dividend in FY26, as profit and cash soared on the back of stronger gold production.

According to Bell Potter, the company delivered FY26 revenue of A$1.74bn and NPAT of A$602m, broadly ahead of expectations, although EBITDA of A$803m was 20% below estimates due to higher costs and lower realised gold prices. 

Production was solid, while the company maintained a strong net cash position of A$217m and declared its maiden fully franked dividend of 5.0cps. 

FY26 was a transformative year for GMD, acquiring Magnetic and Vault (pending) that will transition GMD to a top 3 gold producer capable of producing 600-700kozpa. We view FY27 as the build year with standalone guidance as a placeholder for the Strategic Plan in 1H2027, where the long-term production and costs figures will be released.

Bell Potter has an updated price target of $9.00 on these ASX shares, which is 5% higher than current levels. 

The post 2 ASX shares that could rise up to 45% following earnings results  appeared first on The Motley Fool Australia.

According to a new report from Bell Potter, there is one dividend stock in particular that investors should be aware of. 

Why earnings season matters for income investors

Earnings season is an especially important time for dividend investors because a company's results can reveal far more than just whether it beat or missed analysts' expectations. 

For income-focused investors, earnings reports provide a fresh look at the strength of the business, the sustainability of its cash flow, and, ultimately, its ability to keep paying and growing its dividend.

While dividend announcements often get the most attention, the numbers behind them matter just as much. 

Revenue and profit trends, free cash flow, debt levels, and management's outlook can all provide clues about whether a company has the financial capacity to maintain its payout through different economic conditions. 

Why this dividend stock stands out

For investors looking to add a dividend stock to their portfolio, Regis Resources Ltd (ASX: RRL) is worth considering. 

Regis Resources is an established multi-mine gold producer and one of the largest ASX-listed gold producers with an all-Australian asset base. 

It released full-year results last Friday, which included a record net profit after tax of $715 million. 

This ASX gold stock has now risen more than 100% over the last year. 

Even more importantly for dividend investors, it declared fully franked final dividends of 20 cents per share, including a 5 cent special dividend.

According to Bell Potter, the record distributions reflect the implementation of Regis' new dividend policy. 

The policy targets a payout between 25% and 50% of the "Group Cash Increase" over the preceding half-year (cash and bullion increase net of dividends and tax). For FY26, this ratio was 39%, equating to a fully franked 4.3% yield. 

Capital growth also a factor

While strong yields are great news for dividend stocks, some can provide the exciting combination of passive income and capital growth. 

That appears to be the case for Regis Resources. 

Bell Potter has upgraded its price target on this dividend stock to $9.35 (previously $8.45). 

The broker also has a buy recommendation. 

From yesterday's closing price, this indicates an upside potential of 10% to go alongside the yield fetching over 4%. 

While this lifts operating costs it also increases gold price leverage and Resource value extraction. Free cash flows continue to support dividends and the capacity to pursue both organic and inorganic growth options. 

Overall, we remain positive towards RRL's all-Australian, multi-mine asset portfolio, its leverage to the gold price and its fully unhedged, debt free balance sheet. Our NPV-based valuation lifts 11%, to $9.35/sh. We retain our Buy recommendation.

The post The fantastic dividend stock with upside investors should be targeting this week appeared first on The Motley Fool Australia.

• Whitehaven Coal Ltd (ASX: WHC)
• Bega Cheese Ltd (ASX: BGA)
• Temple & Webster Group Ltd (ASX: TPW). 

Bega Cheese shares enjoyed big gains on the back of positive results. 

Meanwhile, Whitehaven Coal and Temple and Webster results seemingly left investors hoping for more. 

Full results for each can be found here: 

• Whitehaven Coal Results
• Bega Cheese Results
• Temple and Webster Results.

Following the releases, brokers have been quick to update their guidance on these ASX shares. 

Here's the latest guidance. 

Temple & Webster gets a big downgrade 

Bell Potter released updated guidance on Temple & Webster shares following the results. 

The brokers' view is that Temple & Webster's FY26 revenue came in at the bottom of its $665–675m guidance range, while EBITDA was towards the top end. 

However, FY27 has started weakly, with checkout revenue growth of only 13% compared with a challenging +28% prior-year comparison. Despite this, contribution margin has remained resilient at around 17% of revenue.

Bell Potter expects EBITDA margins to fall from the ~6% achieved in 4Q26 as lower revenue reduces fixed-cost leverage. Temple & Webster has also lowered its FY27 EBITDA guidance to $33-40m from the previously targeted $40m. 

Based on this guidance, the broker has a hold recommendation and lowered its price target to $4.50 (previously $7.00). 

Bega keeps on booming 

Bega shares rocketed 10% on earnings results, and Bell Potter is optimistic the growth can continue. 

The broker highlighted the strong revenue, EBITDA and NPAT growth in the latest results. 

Bell Potter retained its buy recommendation and raised its price target to $8.05 (previously $7.75). 

This indicates an upside of 21% from current levels. 

Trading at 10.5x FY26e EBITDA, BGA is at a reasonable discount to listed FMCG and Dairy exposures globally, while offering compound double digit EPS growth through to FY29e.

Whitehaven Coal shares fairly valued

Whitehaven Coal shares have experienced significant volatility over the last 12 months, and the team at Morgans see little upside moving forward. 

The broker said the company delivered a mixed result, with EBITDA broadly in line with consensus expectations, although underlying NPAT missed slightly. 

A 6c dividend was declared, consistent with consensus. The effects of poor coal prices in the 1H provided a significant headwind for the full-year result. FY27 guidance was softer than expected, with production growth appearing limited given the unchanged upper end of group guidance, while both costs and capital expenditure expectations have moved higher. 

We move to a HOLD rating (previously BUY) due to recent share price strength and valuation updates, with a reduced target price of A$8.05ps (previously A$8.50)

Whitehaven Coal shares closed trading yesterday at $7.63 each. 

The post Buy, hold, sell: Bega Cheese, Temple & Webster and Whitehaven Coal shares after results appeared first on The Motley Fool Australia.

Investors were gobbling up shares in the company following a result that included double-digit revenue growth and ongoing store expansion. 

A new report from Bell Potter suggests this could be a sign of what's to come over the next 12 months. 

What did the company report?

As reported by Laura Stewart yesterday, the company reported a 12.9% rise in revenue to $376.1 million for FY26, with underlying NPAT up 16.3% to $40.5 million.

Other results included: 

• Underlying net profit after tax (NPAT) of $40.5 million, up 16.3%
• Statutory NPAT of $18.2 million, down 21.6% due to non-cash impairments
• Gross margin of 62.5%, up 1.4 percentage points
• Underlying EBIT of $64.0 million, up 17.2%
• Final fully franked dividend of 17 cents per share (FY total dividends: 43.0 cps). 

Prior to yesterday, this ASX consumer discretionary stock had faced several sector-related headwinds. 

However, it seems the tide could be turning. 

Bell Potter renewed confidence

Following the release, Bell Potter provided updated guidance on this ASX consumer discretionary stock. 

The broker saw the FY26 result as a clear beat, with revenue above guidance and EBIT at the top end, while FY27 trading has started positively despite tough comparables. 

Group retail sales were up 9%, with particularly strong like-for-like growth. 

The biggest positive was the FY27 store-opening guidance of 16-20 stores, well above Bell Potter's prior estimate. 

They have lifted their forecast to 17 net new stores, putting the core Universal Store network on track to reach around 100 stores by FY28.

Upgraded target price for this ASX consumer discretionary stock

Based on this guidance, Bell Potter retained its buy recommendation. 

It also lifted its price target to $9.70 (previously $9.30). 

From yesterday's closing price, this indicates a further 17% upside. 

Our TP increases by ~4% to $9.70/share given our modest earnings revisions and time creep. We remain supportive of UNI's continued ability to gain market share in a niche streetwear/womenswear category as the overall retail sector goes through a cyclical low point in FY27. We see this backed by UNI's continued execution to attract the selective youth customer spend.

At 15x FY27e P/E and continuing to offer ~9% EBIT growth over FY27-29e (BPe), we retain our optimistic views on UNI as a high quality retailer with a healthy balance sheet and maintain our BUY rating.

The post Why this ASX consumer discretionary stock could be the pick of the sector  appeared first on The Motley Fool Australia.

As reported by James Mickleboro, the gold miner reported record FY26 profit and increased its dividend, backed by strong gold and copper output.

Other key results included: 

• Statutory profit after tax rose 59% to $1,475 million
• Underlying EBITDA increased 44% to $3,171 million with 57% margin
• Group cash flow jumped 76% to $1,389 million
• Final fully franked dividend of 21 cents per share, up 62%
• Total FY26 dividend of 41 cps, returning ~$833 million to shareholders. 

What did management say?

Commenting on the results, Evolution Mining's Managing Director and CEO, Lawrie Conway, said:

Our record results reflect the quality of our assets and, above all, the efforts of the entire Evolution team. We are delivering on our commitment to shareholders. The record financial performance is on the back of safe, consistent and reliable operational delivery, complemented by our disciplined approach to cost and capital management. Our high-margin business is generating significant cash flow with a record Group cash flow of nearly $1.4 billion.

It was a subdued response from investors, with the ASX 200 stock rising just over 0.2% on the back of the announcement. 

However, Evolution Mining shares have risen 73% over the last 12 months. 

In good news for prospective investors, Bell Potter sees more upside for this ASX 200 stock. 

Here's what the broker had to say. 

FY26 financial results sets fresh records

The team at Bell Potter said this ASX 200 stock delivered a record FY26 result, with revenue of A$5.56bn, underlying EBITDA of A$3.17bn and net profit of A$1.56bn, despite falling short of Bell Potter's forecasts. 

The strong operational performance, combined with largely unhedged gold exposure, drove record earnings and free cash flow, while net gearing improved to 0% as EVN moved to A$19m of net cash. 

Management also increased its dividend payout target from ~50% to ~60% of group cash flow, supporting a total FY26 distribution of 41cps and signalling a greater focus on shareholder returns. 

FY27 guidance of 660-730koz of gold and 63-70kt of copper at AISC of A$1,795-1,995/oz was broadly in line with expectations, with higher growth capital reflecting investment in projects Bell Potter views as high-return and highly competitive for capital.

Buy recommendation in tact 

Based on this guidance, the team at Bell Potter retained its buy recommendation on this ASX 200 stock. 

It also increased its price target to $15.55 (previously $15.10). 

From yesterday's closing price, this indicates a further upside of almost 14%. 

EVN offers fully unhedged gold and copper exposure via a portfolio of high quality, long-life assets in Tier 1 jurisdictions, overseen by a high-quality management team. EVN has demonstrated its intention to increase shareholder returns and gold price exposure. Our NPV-based valuation lifts 3%, to $15.55/sh. We retain our Buy recommendation.

The post Why this ASX 200 stock is a buy after posting record results appeared first on The Motley Fool Australia.

Investors reacted very differently to these results, with Cogstate shares falling 2% and Pro Medicus shares rocketing over 11%. 

Following these results, the team at Bell Potter provided updated guidance on these healthcare companies. 

What did they report?

Cogstate posted record FY26 revenue of US$60.9 million, up 15%, and a net profit after tax of US$11.9 million, up 17%.

Meanwhile, Pro Medicus announced full-year revenue of $261.7 million, up 22.9%, with underlying NPAT rising 24.1% to $144.7 million. The company remains debt-free and has lifted its fully franked total dividend by 25.5% to 69 cents per share.

Cogstate and Pro Medicus' full results can be found here: 

• Cogstate results 
• Pro Medicus results. 

Both healthcare companies have had a very different 12 months. 

Cogstate shares are up 62% in the last year, while Pro Medicus are down 38% in the same span. 

Following yesterday's results, here is the latest guidance out of the team at Bell potter. 

Bell Potter's outlook for Cogstate

The broker Bell Potter viewed Cogstate's FY26 result positively, with revenue up 15% to $60.9m, ahead of expectations, while a strong 2H gross margin of 62% drove full-year EBITDA of $18.3m and NPAT of $11.9m, both above forecast. 

The company doubled its dividend to 4 cents per share and remained debt-free with $34.8m of cash. Cogstate now enters FY27 from a record base, supported by very positive sales prospects, expected revenue growth, and an intention to maintain FY26's EBITDA margins. 

Bell Potter has increased FY27-29 revenue forecasts by around $1m annually, reflecting stronger Clinical Trials activity and improved visibility, but higher operating costs more than offset this, resulting in around $1m lower NPAT forecasts in each year.

Based on this guidance, the broker retained its $3.70 price target and buy recommendation. 

This indicates an upside potential of more than 35%. 

Bell Potter's outlook for Pro Medicus 

Pro Medicus reported FY26 revenue and EBIT growth of 23% and 26%, respectively, with EBIT results modestly (1.5%) ahead of consensus earnings. 

Bell Potter said that as the group's revenue base expands, top-line growth is decelerating. However, margin expansion continues, driving the small earnings beat. 

The broker also highlighted that the company retained all six of its expiring contracts during FY26, which it believes were not subject to a competitive bidding process, based on factors such as client satisfaction with service levels and value.

The team at Bell Potter retained its buy recommendation and $226 price target for Pro Medicus shares after the company's results. 

From yesterday's closing price, the price target indicates 15% upside.

The post Healthcare results wrap: Are Cogstate and Pro Medicus shares a buy, hold or sell? appeared first on The Motley Fool Australia.

As the calendar ticked over to 2026, many of the biggest winners initially fell as valuations became stretched and gold experienced a sharp correction. 

However research from VanEck suggests ASX gold stocks are more resilient than investors might have thought. 

One ASX gold stock worth monitoring is Ausgold Ltd (ASX: AUC). 

It soared 24% yesterday after a key announcement to the ASX. 

What did the company announce?

As reported yesterday by Laura Stewart, Ausgold Ltd (ASX: AUC) announced a recommended scheme of arrangement under which OceanaGold Corp (TSE: OGC) will acquire 100% of Ausgold, valuing each Ausgold share at an implied A$1.36 and the total company at approximately A$776 million. 

The scheme is subject to regulatory and court approvals, as well as an independent expert's conclusion that the deal is in shareholders' best interests.

For investors, this $1.36 price represented a 28% premium at the time. 

However, after the massive climb during Tuesday's session, the stock price is now hovering just below at $1.32. 

Following the announcement, the team at Bell Potter issued updated guidance on the ASX gold stock. 

Here is what the broker had to say. 

Downgraded outlook 

Bell Potter downgraded its outlook on this ASX gold stock to a speculative hold following OceanaGold's proposed ~$776m acquisition of AUC. 

The all-scrip deal (with up to A$194m cash consideration) is unanimously recommended by the AUC Board, with major shareholder Dundee Resources also intending to support it. 

Completion is targeted for December 2026, after which AUC shareholders would own ~6–8% of OceanaGold, gaining exposure to its four producing gold assets while retaining Katanning development upside with substantially lower funding and execution risk. 

Bell Potter views OceanaGold's strong balance sheet as sufficient to fund Katanning's ~$354m development cost and sees relatively low-medium risk of a competing bidder. 

The proposed transaction implies A$282/oz of resources, well above the A$202/oz average for selected Australian gold deals in 2024–25, supporting the view that the offer is attractive. 

Some upside remains

Based on this guidance, Bell Potter lowered its price target to $1.50 (previously $1.70) on this ASX gold stock. 

From yesterday's closing price, this indicates upside potential of 13%. 

We downgrade to a Hold recommendation and lower our valuation to $1.50/sh, a 10% premium to the initial offer price recognising that AUC is in-play and its share price should reflect OGC's share price and gold price movements. We see low-medium interloper risk.

The post Why did this ASX gold stock just soar 24% in a single session? appeared first on The Motley Fool Australia.

The fresh milk and infant formula company saw its share price fall over 3% during Monday's session, as investors exited their positions in the consumer staples stock.

What did A2 Milk report?

As reported by The Motley Fool yesterday, the company reported a 12.4% rise in revenue to NZ$1.97 billion and the declaration of both ordinary and special dividends.

Other results included: 

• EBITDA fell 2.5% to NZ$284.4 million, while underlying EBITDA rose 5.4% to NZ$307.6 million.
• Net profit after tax (NPAT) dropped 5.8% to NZ$207.5 million; underlying NPAT increased 7% to NZ$235.8 million.
• Ordinary dividends totalled 21 NZ cents per share, up 1cps; special dividend of 41.36cps also paid.
• Net cash closed at NZ$784.5 million, down 26.1% year on year.

It seems investors were left wanting more, as its share price fell on the results. 

This takes A2 Milk shares' year-to-date losses to almost 29%. 

Looking ahead

According to the release, A2 Milk's revenue and EBITDA are expected to grow in FY27, supported by increased contribution from product innovation and new markets, continued momentum in Other Nutritionals and Liquid Milk. 

Whilst a range of outcomes is possible depending on the rate of recovery in IMF, the Company currently expects the following in FY27 compared to FY26 (on a continuing operations basis):

• Revenue growth of mid single digit percent, with 1H27 revenue broadly in line with 1H26
• EBITDA margin percent to be approximately 15%, with 1H27 to be materially down on 1H26
• Depreciation and amortisation to be approximately $20 million
• Cash conversion to be approximately 70-80%
• Capital expenditure to be approximately $70 million. 

Bell Potter not convinced

Despite being heavily sold off, the team at Bell Potter are not convinced that A2 Milk shares can bounce back.

The broker released an updated outlook on the company following the results. 

Bell Potter viewed the FY26 result as broadly in line with expectations.

The key disappointment was weaker cash generation, with lease-adjusted operating cash flow falling to NZ$127.5m from NZ$195.7m.

Bell Potter said FY27 guidance is relatively soft, with revenue expected to grow at a mid-single-digit rate, 1H27 revenue broadly flat year-on-year, and EBITDA margins around 15%, below consensus expectations. 

Bell Potter has therefore reduced its FY27 and FY28 NPAT forecasts by 2% and 1%, respectively, mainly due to lower expected EBITDA. 

Limited upside

Based on this guidance, Bell Potter retained its buy recommendation on A2 Milk shares, and slightly increased its price target to $7.00. 

From yesterday's closing price, this indicates an upside potential of 7%. 

FY26 was in line with downwardly revised guidance, and opening FY27e guidance will likely see continued consensus downgrades, which are likely to reach ~18% over the past 3 months.

The post Are A2 Milk shares a buy, hold or sell following results? appeared first on The Motley Fool Australia.

With optimism around the situation in Iran, and cooling inflation, the ASX 200 has climbed over 5% since early June. 

For investors looking for high upside positions, three ASX shares have recently drawn big upside projections from experts. 

Let's see what brokers had to say. 

Premier Investments Ltd (ASX: PMV)

It has been a volatile year for Premier Investments. 

The Australian company owns and operates specialty retail brands.

The company has been heavily sold off since early July, falling over 16% in that span. 

One major catalyst for this share price fall was the announcement that profit is likely to come in weaker than expected. 

According to the release, its full-year sales are expected to come in at $795.5 million, down 2% on the previous year, while EBIT was expected to come in at $176 million, down from earlier guidance given in March of $183 million.

Despite this bad news, brokers now see the stock as being oversold. 

Premier Investments shares closed trading last week at $12.52 each. 

This is significantly below targets from brokers. 

Bell Potter has a recent share price target of $16.50, while Macquarie has a $15.70 target on these ASX shares. 

These targets indicate an upside ranging from 25% to 32%. 

Amotiv Ltd (ASX: AOV)

Another stock worth watching for a big second half of the year is Amotiv. 

The company is Australia and New Zealand's largest pure-play automotive aftermarket parts wholesaler and manufacturer.

It recently released some impressive results, including reported revenue growth of 2.7% to $1.02 billion, with underlying net profit coming in at $120.3 million, up 1.3%.

These ASX shares closed trading last week at $6.72 each. 

However, Macquarie has a price target of $11.60 for Amotiv shares, indicating 72% upside potential. 

Life360 Inc (ASX: 360)

After tumbling more than 27% this year, experts think now could be the time to buy low on Life360 shares. 

For those unfamiliar, the company's core product is a private family and friends social networking app that allows users to communicate and share their locations. 

The product includes an emergency roadside assistance feature, driver monitoring and reporting, and direct navigation to a member's location without needing an address.

The company saw its shares heavily sold off last week after releasing quarterly results. 

However this has created a strong value opportunity for savvy investors. 

These ASX shares are now trading for approximately $23.50 each. 

However, following last week's results, Bell Potter retained its buy recommendation and placed a price target of $34.00 on these ASX shares. 

This indicates upside potential of 44%. 

The post 3 ASX shares tipped to explode up to 72% in the back half of 2026 appeared first on The Motley Fool Australia.

It climbed 13% in a single session following the release of its FY26 results.

The company is a national distributor and service provider to the Australian electrical market. 

Its core focus is power distribution, power monitoring, industrial control, renewables, test and measurement, and services, across power generation, commercial, hospitality, infrastructure, and sports and leisure facilities.

What did the company report?

As reported by The Motley Fool's Laura Stewart on Friday, the company posted record results for FY26, exceeding its own guidance. 

Results included: 

• Revenue of $414.3 million, up 16.8% on the prior corresponding period (pcp)
• Underlying EBITDA of $55.4 million, up 19.4%
• Underlying NPAT of $30.9 million, up 17.9%
• Fully franked dividends of 14.7 cents per share, up 16.7%
• Operating free cash flow (before interest and tax) of $46.8 million, with strong 84.4% conversion
• Net debt reduced to $16.4 million as at 30 June 2026. 

Investors were quick to buy up ASX industrials stocks, leading to a massive rise on Friday. 

Heading into a fresh week of trading, the team at Bell Potter believes there's more upside to come. 

Buy recommendation for ASX industrials stock

Bell Potter's report included an unchanged buy rating for this ASX industrials stock. 

The broker views IPG's FY26 result as a strong outcome, with underlying EBITDA of $55.4m, up 19% year-on-year and slightly ahead of both its estimate and consensus. 

Revenue increased 17% to $414m, driven by solid growth across IPD and CMI and particularly strong 35% growth in Ex Engineering, with Data Centre revenue up 27% to $71.5m. 

The broker said gross margin eased to 33.4% due to a higher mix of competitively priced orders, but EBITDA margin improved to 13.4%, while underlying NPAT rose 18% to $30.9m. 

Management entered FY27 with positive momentum and expects its businesses to continue benefiting from structural growth trends and ongoing investment, while maintaining a disciplined approach to capital allocation, organic investment and acquisitions.

Further upside ahead

Based on this guidance, the team at Bell Potter increased its price target on this ASX industrials stock to $6.50 (previously $6.20). 

From last week's closing price, this indicates an upside potential of 14%. 

IPG is well positioned to continue delivering strong earnings growth from booming investment in the Data Centre construction, complementing robust revenue growth across the CMI and EX Engineering businesses. Conversion of advanced M&A opportunities represents upside to near-term consensus earnings expectations.

The post This ASX industrials stock just rocketed 13% on results and is expected to keep rising appeared first on The Motley Fool Australia.

Investors were quick to exit their positions in the defensive telco company as its share price tumbled over 3% during Thursday's session. 

Telstra shares initially enjoyed strong momentum in the first few months of the year as investors pushed into defensive sectors.

However it has since lost ground and now is essentially flat year to date.

What did the company report?

Included in yesterday's report was: 

• Operating profit (EBIT) increased by 1.7% to $4 billion, 
• Net profit after tax (NPAT) rose 2.7% to $2.4 billion
• Earnings per share (EPS) increased by 5.3% to 19.9 cents. 
• Cash earnings grew 11.6% to $2.9 billion, and cash EPS rose 13.8% to 25.5 cents.

The main headline from the results was the dividend increase. 

The company announced a final dividend of 10.5 cents per share with 90.48% franking, up 10.5% from the 9.5 cents with 100% franking paid in FY25. 

Despite these results, investors were left disappointed as Telstra shares dropped over 3%. 

What is Bell Potter's view?

Following the results, the team at Bell Potter provided updated analysis on Telstra shares. 

The broker viewed Telstra's FY26 result as broadly in line with expectations, with cash EBIT and EBITDA meeting forecasts, although total income and NPAT were slightly softer. 

FY27 guidance was also broadly in line, but cash EBIT was modestly below expectations due to higher-than-expected BAU capex. 

Bell Potter has consequently downgraded cash EBIT forecasts by 3% in FY27 and 2% in FY28, while maintaining dividend forecasts and increasing expected franking to 90%. 

Limited upside for Telstra shares

Telstra shares closed trading yesterday at $4.84 each. 

However the team at Bell Potter sees little upside over the next 12 months. 

The broker has an updated one year price target of $4.80 (previously $5.10). 

This indicates that Telstra shares are essentially trading at fair value. 

Bell Potter also retained its hold recommendation. 

We have lowered the multiple we apply in our PE ratio valuation from 23.75x to 22.5x given the slightly disappointing guidance. 

We have also reduced the multiple we apply to the Mobile business in our sum-of-the-parts valuation from 8x to 7.75x given the potential threat/risk of increased competition, particularly if the ACCC declares one or more wholesale mobile services post the recently announced enquiry. 

The net result is a 6% decrease in our target price to $4.80 which is close to the current share price so we maintain our HOLD recommendation.

The post Are Telstra shares a buy, hold, or sell after their full-year results, according to this expert? appeared first on The Motley Fool Australia.