The S&P/ASX 200 Materials (ASX: XMJ) index has climbed over 10% in 2026. 

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is up just over 2% year to date, and one such ASX materials stock that has climbed this year is Imdex Ltd (ASX: IMD). 

It is an Australian mining equipment and technology company operating globally.

Its technology includes drilling optimisation products, cloud-connected rock knowledge sensors and data and analytics. These aim to improve the process of identifying and extracting mineral resources.

The Imdex share price has moved largely in line with the broader sector this year, rising 10.7%.

Yesterday the team at Bell Potter issued updated guidance on this ASX materials stock, indicating the rise could continue. 

Here's what the broker had to say. 

Exploration market outlook remains robust

Bell Potter noted that spending on exploration by major and intermediate mining companies is expected to rise by about 24% in 2026. 

This is a strong increase, similar to the growth seen in 2021–2022. Importantly, these larger companies usually make up around 80–85% of Imdex's revenue. 

In 2021 and 2022, their exploration spending grew by 26% and 29%. Subsequently, this helped drive revenue growth of 31% and 21% in those years.

According to Bell Potter, based on this pattern, the current forecast of 21% revenue growth for 2026 looks conservative. 

Imdex is also better positioned now because it offers more products and services after expanding its technology over the past three years.

IMD's greater share of wallet in this cycle, following the integration of several hardware and digital products acquired and internally developed over the past 3 years, positions the company well in an expanding market.

Buy rating unchanged for this ASX materials stock

Based on this guidance, the team at Bell Potter have reiterated a buy recommendation for Imdex shares. 

Furthermore, the broker has a $4.60 price target, which indicates a 20% upside from yesterday's closing price of $3.83. 

Additionally, Bell Potter said is is encouraged by the significant expansion in CY26 gold and copper major and intermediate exploration budgets, suggesting robust uptake of IMD drilling products, tools and software in the short-term. 

Together, with greater junior exploration activity, as a record wave of recently raised equity is deployed, IMD is well positioned to deliver strong revenue growth and operating leverage over the next twelve months. Notwithstanding these tailwinds, we express caution regarding first and second order impacts from the Iran war.

The post This ASX materials stock could rise 20% according to this broker appeared first on The Motley Fool Australia.

By the time trading wrapped up, the S&P/ASX 200 Index (ASX: XJO) had gained a pleasing 1.85%. That lifts the index up to 8,534.3 points.

This happy Wednesday for the local markets comes despite a far more bearish morning over on Wall Street.

The Dow Jones Industrial Average Index (DJX: .DJI) couldn't quite stick the landing, dropping 0.18%

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared even worse, falling by 0.84%.

But let's get back to the ASX now and dig into what was going on amongst the various ASX sectors today.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 to rise

The Australian share market looks set to rise again on Wednesday despite a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.4% higher. In late trade in the United States, the Dow Jones is down 0.05%, the S&P 500 is down 0.25%, and the Nasdaq is 0.1% lower.

Oil prices sink again

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a poor session on Wednesday after oil prices sank overnight. According to Bloomberg, the WTI crude oil price is down 8.6% to US$86.63 a barrel and the Brent crude oil price is down 8.4% to US$90.65 a barrel. Optimism over a resumption of supply from the Strait of Hormuz put pressure on prices.

ASX 200 shares going ex-div

Another group of ASX 200 shares are going ex-dividend today and could trade lower. This includes supply chain solutions company Brambles Ltd (ASX: BXB), appliance manufacturer Breville Group Ltd (ASX: BRG), waste management company Cleanaway Waste Management Ltd (ASX: CWY), and mining technology company Imdex Ltd (ASX: IMD). Breville is paying eligible shareholders a 19 cents per share fully franked interim dividend later this month on 27 March.

Gold price jumps

ASX 200 gold shares such as Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good session on Wednesday after the gold price jumped overnight. According to CNBC, the gold futures price is up 1.9% to US$5,201.7 an ounce. Easing inflation worries and US dollar weakness were drivers of this gain.

Buy Eagers Automotive shares

Eagers Automotive Ltd (ASX: APE) shares are good value according to analysts at Bell Potter. This morning, the broker has upgraded the automotive retailer's shares to a buy rating with a $28.50 price target. It said: "Our updated TP of $28.50 is >15% premium to the share price so we upgrade our recommendation from Hold to Buy. Yes, we acknowledge Eagers is consumer facing but we see resilience in the both the new and used vehicle market in Australia as well as Canada."

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

By the time trading wrapped up today, the ASX 200 had given up a morning lead to close down 0.041%. That small drop leaves the index at 9,022.3 points.

This miserly session for the ASX follows an even nastier start to the American trading week on Wall Street in the early hours of this morning.

The Dow Jones Industrial Average Index (DJX: .DJI) was crushed, dropping 1.66%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared slightly better, but still lost 1.13% of its value.

But let's return to the local markets and take stock of how the different ASX sectors fared amid today's tough trading conditions.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Both companies released their H1 FY26 results yesterday, prompting buy recommendations from the broker. 

Here is what both ASX 300 companies reported. 

Imdex  

Imdex is an Australian mining equipment and technology company operating globally.

Its share price has been on a steady increase over the last 12 months, rising 30.7% in that span. 

This continued yesterday as its share price rose 2.5% on the back of its 1H FY26 results.

For the half year ending 31 December 2025, this ASX 300 company reported: 

• Revenue of $247 million, up 16% on prior corresponding period (pcp)
• EBITDA normalised $78 million, up 22% on pcp
• Interim dividend of 1.7 cps

Speaking on the results, Managing Director and Chief Executive Officer, Paul House, said:

I am delighted with the record 1H26 result, two things stand out to me. The first being our commitment to invest continually through the exploration cycle that continues to build on a portfolio of leading technology. The second being our unrivalled global network and team of IMDEX personnel around the world working relentlessly to deliver value for our customers. This combination has enabled IMDEX to once again outperform the market.

McMillan Shakespeare

It was a different reaction from the market after this ASX 300 company released its half-year results yesterday. 

Its share price fell more than 5% as investors were seemingly discouraged by the results. 

This ASX 300 company specialises in employee benefits. 

Its services include salary packaging, novated leasing, disability plan management and support coordination, asset management, and related financial products and services.

For the six months ending 31st December 2025, it reported: 

• Statutory net profit after tax (NPAT) up 9.7% to $49.6 million
• Underlying net profit after tax and amortisation (UNPATA) up 1.4% to $50.3 million
• Group revenue up 11.2% to $297.4 million
• Half-year fully-franked dividend of 62 cents

Bell Potter upgrades both ASX 300 companies

Bell Potter previously had a hold recommendation on both stocks, but has now upgraded both to a buy. 

Responding to the results from Imdex, Bell Potter said it was highly encouraged by the CY26 global gold and copper Major and Intermediate budgets announced to date, implying a significant uplift in exploration spend compared with CY25. 

Together, with greater Junior exploration activity, as a record wave of recently raised equity is deployed, we believe IMD will see robust demand growth for its products and services and operating leverage.

The broker has upgraded its share price target to $4.60 (previously $3.60). 

From yesterday's closing price of $4, this indicates an upside of 15%. 

Meanwhile, for McMillan Shakespeare shares, the broker was optimistic about future growth thanks to the company's disciplined cost control. 

We view the result as being classified by disciplined cost control. MMS could see as much as +8% benefit at EBITDA line from non-recurring costs and productivity alone. We upgrade to Buy on the depressed multiple and upgrade our EPS +2%/+0%/+0%.

The broker has an updated price target of $18.50 (previously $19.70). 

From yesterday's closing price, this indicates an upside of approximately 11.4%. 

The post Bell Potter just upgraded these ASX 300 shares to a buy after earnings results appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

At the time of writing, the mining technology company's shares are up almost 2% to $3.30.

This means that its shares are now up almost 40% since the start of the year.

But if you thought it was too late to invest, think again! That's because analysts at Macquarie believe the ASX tech stock could keep rising from here.

What is the broker saying about this ASX tech stock?

Macquarie notes that the company has announced acquisitions that will expand its market-leading product suite. It said:

Imdex will acquire 100% of Advanced Logic Technology (ALT) and its subsidiary, Mount Sopris Instruments (MSI) for €55.8m (~A$98.9m) upfront and performance-linked deferred components including ~A$4.5m and ~A$35.4m. The acquisition will be funded from existing cash and debt facilities, with proforma leverage ~1.1x post completion.

The broker appears positive on the move and believes it will create some easy wins that accelerate growth and margins. It adds:

Expands the portfolio with complementary offerings. The acquired product portfolios are complementary and don't compete with existing IMD products. Around 20% of revenue is software with an 85% GM, while the hardware business is ~45%

Some easy wins to accelerate growth & margins. Leveraging IMD's global network is expected to generate quick wins, particularly in markets where the business currently has lower penetration. The approximately 45% gross margin in hardware has been partly driven by one-off sales revenue; however, transitioning to IMD's rental model is likely to deliver more sustainable and stronger margins over time.

Time to buy

According to the note, the broker has upgraded Imdex's shares to an outperform rating with an improved price target of $3.80.

Based on its current share price, this implies potential upside of 15% for investors over the next 12 months.

In addition, it expects a modest 1.1% dividend yield in FY 2026, growing to 2.9% in FY 2027.

Commenting on its outperform rating, Macquarie said:

Capital raising & drilling activity levels continue to improve – IMD's AGM noted an increase in rig utilisation in all regions. Current multiple ~11x EBITDA is near the top of its range, but we see potential for a re-rate if IMD can accelerate growth in its software business, both organic and M&A.

Valuation: TP +4% to $3.80ps (set near the top end of our valuation range), driven by incorporation of ALT & MSI into our forecasts. Catalysts: 1H26 result, ongoing improvement in raising and drilling activity, strategic M&A, building out software businesses.

The post Macquarie says this top ASX tech stock could rise 15% appeared first on The Motley Fool Australia.

But which ASX shares should you buy?

To narrow things down, let's see how Morgans rates the three popular shares named below. Here's what the broker is saying:

Collins Foods Ltd (ASX: CKF)

Morgans was pleased with this quick service restaurant operator's performance during the first half.

It notes that its profits were a strong beat thanks to strong execution and a lower-than-expected depreciation charge and tax rate.

In response to its results, the broker has retained its accumulate rating with an improved price target of $12.40. It said:

CKF's 1H26 NPAT was 12% higher than forecast and 30% up yoy. The strong headline beat was partly a function of solid operational execution and a return to positive LFL sales growth, but was significantly boosted by a lower-than-expected depreciation charge and tax rate. EBITDA was up 11% and 1% higher than forecast.

The value proposition inherent in the KFC brand has allowed it to outperform peers in a competitive and challenging QSR market in Australia and continental Europe. 1H26 margins improved, although we anticipate some downward pressure in Australia in the second half as commodity price inflation resumes. CKF upgraded its full year guidance. We have increased our NPAT estimates by 3% in each of the next three forecast years and our target price rises by 1% to $12.40.

Imdex Ltd (ASX: IMD)

This mining technology company has caught the eye of Morgans after announcing a couple of acquisitions.

And while it notes that these acquisitions may lead to earnings per share downgrades, the broker urges investors to not focus on this and instead to focus on the strength of the base business.

As a result, it has reaffirmed its accumulate rating with a $3.70 price target. It said:

The acquisition of two predominantly sensors businesses, in our view, is preferred against acquiring purely software businesses. IMD has paid a full price for ALT and MSI (~15x CY24 EBITDA), though with 55-60% exposed to mining exploration, both should be seeing substantial growth. Perhaps more importantly, IMD has now cleansed P&L costs below EBITDA which will likely trigger EPS downgrades. However, this disregards the strength of the base business, for which volumes have sequentially improved through 2Q, notwithstanding usual seasonal softness.

We cut our EPS forecasts by 5% in FY26 as we incorporate ALT and MSI and higher D&A, interest and tax. We also fully consolidate Datarock and Krux. In FY27 and FY28, cuts to our forecasts are marginal (1-2%) as we increase our revenue growth assumption in FY27 from +7% to +10%. Target price to $3.70 (from $3.80). Accumulate

Treasury Wine Estates Ltd (ASX: TWE)

This wine giant released an update this week which revealed that it was impairing the goodwill of its US assets.

While it was disappointed by this, it wasn't overly surprised. In light of this, it has retained its hold rating and $6.10 price target and eagerly awaits a trading update later this month. It said:

TWE has announced that it expects to recognise a non-cash impairment of at least all the goodwill of its US based assets (A$697.4m). While this is disappointing, it isn't a complete surprise given the company has new CEO and the US market remains challenging, in fact, category trends have deteriorated further. A further update on trading will be provided in mid-December.

We suspect that trading has been weaker than expected and wouldn't be surprised if consensus is too high. The 1H26 result will be particularly weak. We have made large revisions to our forecasts and stress that earnings uncertainty remains high. Consequently, we maintain a HOLD rating.

The post Buy, hold, sell: Collins Foods, Imdex, Treasury Wine shares appeared first on The Motley Fool Australia.

These two companies have risen by more than 40% year to date. 

However, Bell Potter has a hold recommendation on both, and has just reduced its target price following key announcements from both companies.

Here's what the broker had to say. 

Southern Cross Electrical Engineering

Southern Cross Electrical Engineering is an electrical, instrumentation, communication and maintenance services company.

The ASX All Ords stock is up more than 55% in 2025. 

However yesterday, the company announced it was unsuccessful in its arbitration proceedings claiming against the CPB Dragados Samsung Joint Venture ("CDSJV"). 

What was the arbitration?

The company's subsidiary Heyday lost its arbitration against the CPB Dragados Samsung Joint Venture relating to claims for additional costs on the WestConnex M5 tunnel project in Sydney. 

The case hinged on strict time-bar clauses, which required claims to be lodged within specific deadlines. Despite substantial scope and schedule changes on the project, Heyday's remaining claims for about $22m were rejected.

In a report out of Bell Potter yesterday, the broker downgraded this ASX All Ords stock to a hold (previously buy). 

Although the broker did note it does not view the unfavourable arbitration update as a reflection of the company's current approach to project execution, given an outstanding track-record of project delivery since the dispute occurred and the likely internal response to improve risk management.

We caveat the Hold thesis with our ongoing positive view of the underlying business given the company's strong orderbook and tender pipeline and favourable structural drivers.

The broker also downgraded its target price to $2.35. 

It appears Bell Potter now sees the stock as fairly valued, as it closed yesterday at $2.39 each. 

Imdex

The company is an Australian mining equipment and technology company operating globally.

Its technology includes drilling optimisation products, cloud-connected rock knowledge sensors, and data and analytics to improve the process of identifying and extracting mineral resources.

Its share price has risen more than 40% since the start of the year.

The company recently announced its acquisition of Advanced Logic Technology S.A. and its subsidiary Mount Sopris Instruments Inc. 

These companies specialise in borehole geophysical imaging solutions, imaging probes and accompanying visualisation and data processing software.

Bell Potter believes the acquisitions strengthen IMD's earth science and digital analytics capabilities, but value creation depends heavily on achieving meaningful revenue growth from the acquired assets.

Value accretion from the ALT and MSI acquisitions is dependent on meaningful incremental revenue generation over the three year period post deal completion.

The broker has lowered its price target to $3.60 (previously $3.90) and maintained its hold recommendation on this ASX All Ords stock. 

From yesterday's closing price of $3.40, this indicates an upside of 5.88%. 

The post Why did Bell Potter just lower its view on these two ASX All Ords stocks? appeared first on The Motley Fool Australia.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to rise on Tuesday despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 23 points or 0.25% higher. In late trade in the United States, the Dow Jones is down 0.65%, the S&P 500 is 0.4% lower, and the Nasdaq has fallen 0.3%.

Oil prices charge higher

It could be a good session for ASX 200 energy shares Karoon Energy Ltd (ASX: KAR) and Santos Ltd (ASX: STO) after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 1.35% to US$59.33 a barrel and the Brent crude oil price is up 1.3% to US$63.20 a barrel. This was driven by supply concerns following an attack on a Black Sea terminal.

Collins Foods half year results

Collins Foods Ltd (ASX: CKF) shares will be on watch today when the quick service restaurant operator releases its half year results. A strong result is expected from the KFC operator, with management guiding to "year-on-year FY26 Group underlying NPAT (post AASB 16) growth in the low to mid-teens" on a percentage basis. KFC Australia same store sales are expected to increase 2.1% during the first half.

Hold Imdex shares

Imdex Ltd (ASX: IMD) shares are a fairly valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating on the mining product technology solutions provider's shares with a trimmed price target of $3.60 (from $3.80). It said: "Our Target Price is lowered to $3.60/sh after applying a higher WACC 8.7% (previously 7.8%). Value accretion from the ALT and MSI acquisitions is dependent on meaningful incremental revenue generation over the three year period post deal completion. For example, achieving 25% of the incremental revenue share earn-out cap (our base case) should deliver an implied acquisition multiple of 7.1x (EV / FY28 EBITDA), less than IMD's 9.6x (in FY28). Implied upfront valuation multiple is closer to 20.6x FY26 EBITDA."

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Ramelius Resources Ltd (ASX: RMS) could have a decent session on Tuesday after the gold price pushed higher overnight. According to CNBC, the gold futures price is up 0.4% to US$4,271.5 an ounce. Gold hit a six-week high on increased US rate cut bets.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

It's the businesses that are overlooked by the market that could be the most undervalued.

Both of the companies I'll highlight in this article are well-liked by the fund manager L1 Capital. Both businesses are benefiting from the ongoing digitalisation of their respective markets.

Let's take a look at why both businesses are appealing businesses to own.

Imdex Ltd (ASX: IMD)

Imdex describes itself as a leading global mining technology company, which enables successful and cost-effective operations from exploration to production. It develops cloud-connected sensors and drilling optimisation products to improve the process of identifying and extracting mineral resources for drilling optimisation products to improve the process of identifying and extracting mineral resources for drilling contractors and resource companies globally.

Fund manager L1 said junior miner capital raising activity, a key leading indicator for exploration spending, continues to "trend positively" and has reached the highest levels since 2021.

The investment team believes this should provide a "strong tailwind" for the company as exploration activity increases after a period of weak underlying market conditions.

L1 also said that the ASX 200 share continues to execute well, reporting increased market share and resilient margins due to its leading product offering and strong cost management. The fund manager then said:

We still see positive tailwinds for the business, above and beyond the improving market environment, underpinned by further market share gains, margin expansion and digital penetration.

In the first quarter of FY26, Imdex reported 10% revenue growth of 10% year-over-year and 3% quarter-over-quarter. The gross profit margin and operating profit (EBITDA) margins continue to perform as expected.

Chorus Ltd (ASX: CNU)

Chorus is best known for being the builder and owner of a major fibre network in New Zealand. It continues to see strong growth for data. September 2025 data usage increased 10% year-over-year.

L1 notes that Chorus has benefited from several incremental but positive events.

In August, the ASX 200 share delivered a FY25 result and FY26 outlook that was broadly in line with expectations.

However, the FY26 guidance of 60 cents per share (up 4.3% year-over-year) was "modestly ahead" of market expectations and is well supported by ongoing discipline over the levels of sustaining capital expenditure. In the three months to September 2025, Chorus implemented speed boosts and also flagged price changes for 2026, which were also slightly ahead of market expectations.

L1 notes that Chorus has a dividend yield of around 7%. The fund manager concluded its thoughts on the ASX 200 share with the following:            

Chorus remains an attractive asset, with the business well placed to deliver robust earnings and dividend growth in the years ahead from a unique platform as a scarce, regulated, essential digital infrastructure operator.

The post 2 ASX 200 shares to buy with strong growth outlooks appeared first on The Motley Fool Australia.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to fall on Friday following a poor night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 35 points or 0.4% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.9%, the S&P 500 is down 0.95%, and the Nasdaq is 0.9% lower.

Oil prices fall again

It looks set to be a subdued finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 1.15% to US$57.60 a barrel and the Brent crude oil price is down 1.15% to US$61.20 a barrel. Oil prices fell despite news that India pay stop importing Russian oil.

Imdex shares downgraded

Imdex Ltd (ASX: IMD) shares could be fully valued now according to analysts at Bell Potter. This morning, the broker has downgraded the mining product technology solutions provider's shares to a hold rating (from buy) with a $3.90 price target. It said: "We downgrade our recommendation to Hold and maintain our TP of $3.90/sh. While we remain bullish on near-term exploration activity growth, as reflected in our 23% EPS CAGR estimate over FY25-27, we see IMD's 32.7x FY26 PE and 28.6x FY27 PE as fair value, with the company's valuation premium to peers at multi-year highs."

Gold price charges higher

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a good finish to the week after the gold price continued its record-breaking run overnight. According to CNBC, the gold futures price is up a further 2.55% to US$4,309 an ounce. This has been driven by a safe haven rush and increased US rate cut bets.

Buy Evolution Mining shares

Bell Potter thinks that Evolution Mining shares are good value despite rising strongly this year. In response to the gold miner's quarterly update, the broker has retained its buy rating with an improved price target of $12.35 (from $10.55). It commented: "EVN offers effectively unhedged gold and copper exposure via a portfolio of high quality, long-life assets in Tier 1 jurisdictions and overseen by a high-quality management team. EVN has stated its intention to pass growing free cash flows on to shareholders."

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

Three that have received upgrades are listed below. Here's why the broker has turned more positive on these shares:

Imdex Ltd (ASX: IMD)

This mining technology company's shares have been upgraded by Morgans recently. The broker has lifted them to an accumulate rating with a $3.80 price target.

Morgans believes that Imdex is positioned for strong growth in FY 2026. In fact, it believes the consensus estimate is too low and expects it to outperform. Particularly given how junior miners are spending heavily. It said:

Since the FY26 result, capital markets activity for junior miners – the key lead indicator for exploration spend – has accelerated to unprecedented levels. Though IMD is facing intense competition in sensors (Axis) and fluids (various private players), our raisings data suggests that FY26 consensus revenue growth of +10% is too low. Our data indicates that ALQ's geochemistry volumes, for which IMD's sensors have historically had a 95% correlation (IMD no longer discloses sensor volumes consistently), will be around +20-30% for the December half and the exit rate is closer to +30-40%.

For IMD, we assume +16% revenue growth in FY26 to account for competition. At NPAT, we increase our forecasts by +3% in FY26 and +7-9% in each of FY27-28. Our target price rises to $3.80 (from $3.45) which represents 30x PE (FY26 adjusted EPS). We note this is a peak historical multiple but is still a PEG of 1x as we forecast ~30% EPS growth. Upgrade to Accumulate.

Pro Medicus Ltd (ASX: PME)

Another ASX 200 share that has been upgraded by Morgans is health imaging technology company Pro Medicus.

While its analysts acknowledge that its shares trade on sky-high multiples, they believe this is justified given its quality. As a result, they have upgraded its shares to a hold rating on valuation grounds this week. They said:

PME continues to trade on elevated multiples, even at our target price with FY26F PE of ~200x, EV/EBITDA ~130x, and PEG ratio of 5x. While these metrics reflect the company's exceptional quality and growth profile, they also imply limited valuation support in the absence of new large contract announcements which is an opaque and often protracted process. At current levels, the risk-reward profile justifies a more balanced stance.

Buyers on weakness, trimmers on strength. Following a model roll forward, the valuation increases marginally to A$290 (from A$285) and our recommendation on Pro Medicus upgrades to HOLD (from TRIM), as the share price has now retraced to neutral territory versus our target price. This move is entirely valuation-driven, with no changes to our forecasts or model assumptions.

Transurban Group (ASX: TCL)

Finally, a third ASX 200 share that has been upgraded by Morgans this month is Transurban.

The broker lifted its recommendation on the toll road operator's shares to hold with a $13.39 price target. It made the move after reviewing its latest traffic data. Morgans explains:

We update our model for TCL's September quarter traffic data and US$ bond issue. 12 month target price lifts 51 cps to $13.39/s, due to c.3% forecast free cash flow upgrades reflecting mild upgrades to EBITDA (especially Brisbane and North America) and adjustments to capital management and debt service assumptions. We upgrade from TRIM to HOLD given the potential TSR (0%) at current prices.

The post Morgans just upgraded these ASX 200 shares appeared first on The Motley Fool Australia.

This gives shareholders the opportunity to see how companies they own or are interested in are performing.

Last week, REA Group Ltd (ASX: REA) hosted its AGM. 

This week, we will hear from several more ASX 200 companies.

9 ASX companies in Macquarie Group Ltd (ASX: MQG)'s coverage universe are set to report. What are Macquarie's price targets on those stocks?

Telstra Ltd (ASX: TLS)

Australia's leading telecommunications company, Telstra, is set to hold its AGM on 14 October. 

Telstra shares have risen 20% for the year to date.

Macquarie has an outperform rating and price target of $5.04 on Telstra shares.

Commonwealth Bank of Australia (ASX: CBA)

Australia's largest bank, CBA, will hold its AGM on 15 October. 

CBA shares have risen 10% for the year to date.

Macquarie currently has an underperform rating and price target of $106 on CBA shares. 

Lottery Corporation Ltd (ASX: TLC)

ASX 200 consumer discretionary stock Lottery Corporation will also host its AGM on 15 October.

Lottery Corporation shares have risen 12% for the year to date.

Macquarie currently has a neutral rating and price target of $5.50 on Lottery Corporation shares.

ARB Corporation Ltd (ASX: ARB)

ASX 200 consumer discretionary company ARB Corporation will hold its AGM on 16 October. 

ARB shares have declined 3% for the year to date. 

Macquarie currently has an outperform rating and price target of $44.90 on ARB shares.

Aurizon Holdings Ltd (ASX: AZJ)

ASX 200 infrastructure stock Aurizon will also hold its AGM on 16 October 

Aurizon shares are flat for the year to date.

Macquarie currently has a neutral rating and price target of $3.34 on Aurizon shares.

Charter Hall Long WALE REIT (ASX: CLW)

ASX 200 REIT Charter Hall Long WALE REIT will host its AGM on 16 October.

Charter Hall Long WALE REIT shares have risen 13% for the year to date. 

Macquarie has an underperform rating and price target of $4.20 on Charter Hall Long WALE REIT shares.

Imdex Ltd (ASX: IMD)

ASX 200 materials stock Imdex will hold its AGM on 16 October.

Imdex shares have surged 54% for the year to date. 

Macquarie currently has a neutral rating and price target of $3.50 on Imdex shares.

Stockland Corporation Ltd (ASX: SGP)

ASX 200 real estate stock Stockland Corporation will hold its AGM on 16 October.

Stockland shares have risen 29% for the year to date. 

Macquarie currently has a neutral rating and price target of $6.16 on Stockland shares. 

Treasury Wine Estates Ltd (ASX: TWE)

Finally, ASX 200 consumer staples company Treasury Wine Estates will also host its AGM on 16 October. 

Treasury Wine shares have fallen 38% for the year to date. 

Macquarie currently has a neutral rating and price target of $8.00 on Treasury Wine Estates shares.

The post 9 ASX 200 stocks hold their AGMs this week. What are Macquarie's price targets? appeared first on The Motley Fool Australia.

To narrow things down, let's take a look at three shares that analysts at Morgans have put accumulate ratings on. They are as follows:

Capstone Copper Corp (ASX: CSC)

This copper miner is well-placed to benefit from rising copper prices according to Morgans.

And while it has taken its buy rating off the miner, it still thinks investors should accumulate its shares has put a new price target of $16.00 on them. It explains:

Copper prices are up +11.5% in the last month and CSC, in our view, remains the most leveraged to further price upside. Operations at Mantoverde and Pinto Valley are recovering from 3Q25 interruptions. A partial asset sell down at Santo Domingo is imminent. Higher near-term copper prices and a revised blended valuation lifts our Target Price to A$16.00ps (previously A$12.10ps). Move to an ACCUMULATE rating (previously BUY).

Imdex Ltd (ASX: IMD)

This global mining tech leader is another ASX share to look at according to the broker. It highlights that Imdex should benefit from record levels of exploration spending in the mining sector for junior miners.

Morgans has upgraded its shares to an accumulate rating with an improved price target of $3.80.

Commenting on the company's outlook, the broker said:

Since the FY26 result, capital markets activity for junior miners – the key lead indicator for exploration spend – has accelerated to unprecedented levels. Though IMD is facing intense competition in sensors (Axis) and fluids (various private players), our raisings data suggests that FY26 consensus revenue growth of +10% is too low. Our data indicates that ALQ's geochemistry volumes, for which IMD's sensors have historically had a 95% correlation (IMD no longer discloses sensor volumes consistently), will be around +20-30% for the December half and the exit rate is closer to +30-40%.

And while its shares trade on high earnings multiples, the broker feels this is justified given its growth potential. It adds:

For IMD, we assume +16% revenue growth in FY26 to account for competition. At NPAT, we increase our forecasts by +3% in FY26 and +7-9% in each of FY27-28. Our target price rises to $3.80 (from $3.45) which represents 30x PE (FY26 adjusted EPS). We note this is a peak historical multiple but is still a PEG of 1x as we forecast ~30% EPS growth. Upgrade to Accumulate.

James Hardie Industries plc (ASX: JHX)

Finally, Morgans reckons investors should accumulate this building materials company's shares and has put a $38.50 price target on them.

It was pleased with its quarterly update and improving outlook. Though, it concedes that there is some uncertainty in the housing market and concerns over corporate governance. The broker explains:

JHX materially beat its prior 2QFY25 forecasts (released 20-Aug-25), as demand proved more resilient, destocking less material and the outlook incrementally better. So, whilst the outlook for new construction remains challenging and deck, rail and accessories enter a seasonal slow period, today's announcement gives some indication the business may be approaching a cyclical low. It also suggests that the FY26 LTIs may prove to be a low hurdle.

Whilst the outlook has incrementally improved, JHX continues to navigate an uncertain housing market, while investor concerns around corporate governance remain largely unresolved. To this end, we retain our ACCUMULATE recommendation with a $38.50/sh price target.

The post Morgans says investors should accumulate these ASX shares appeared first on The Motley Fool Australia.

With reporting season over, ASX companies are slowly winding their way through the ex-dividend process.

After a company announces its financial results and dividend, ASX investors have a short window to buy the share with the payment attached.

On the ex-dividend date, the stock begins trading without the next dividend payment attached.

We typically see share prices fall on ex-div dates because the shares are inherently less valuable without the dividend included.

Ex-dividend dates provide two opportunities for investors.

You can buy an ASX share before its ex-dividend date, which gives you immediate entitlement to the next dividend payment.

Or, you can buy an ASX share on its ex-div date, when the share price typically falls, and take advantage of that dip.

As usual, we've seen plenty of examples of ASX shares falling on their ex-dividend dates this year.

Yesterday, South 32 Ltd (ASX: S32) shares closed 1.5% down after going ex-dividend.

The Super Retail Group Ltd (ASX: SUL) share price fell 4.2% on its ex-div date this month.

CSL Ltd (ASX: CSL) shares dropped 2.15% on their ex-dividend date.

The Pro Medicus Ltd (ASX: PME) share price fell 1.3% on its ex-dividend date.

Nine Entertainment Co Holdings Ltd (ASX: NEC) shares provide an extraordinary example, plummeting 36% on ex-div day.

However, this was more a reflection of the special dividend paid to Nine shareholders this time around after the sale of Domain.

Nine Entertainment is one of several companies that announced special dividends during the August earnings season.

9 ASX shares with ex-dividend dates next week

Here is a sample of the ASX shares going ex-dividend next week.

Further reading

If you own ASX shares and would like to review the earnings reports of your companies, please see our comprehensive calendar page.

The post 9 ASX shares going ex-dividend next week appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

But you don't have to settle for that.

Not when there are ASX 200 shares out there being tipped to generate even bigger returns.

Which ASX 200 share?

One share that could beat the market according to analysts at Bell Potter is Imdex Ltd (ASX: IMD).

It is a global provider of end-to-end mining product technology solutions. This includes proprietary products and technologies for mining exploration and development.

Bell Potter was pleased with the ASX 200 share's performance during FY 2025 given the tricky trading conditions. It said:

MD reported a resilient FY25 financial update amid challenging market conditions. Revenue was $431m (BPe $420m; VA $426m), down 3% YoY, uEBITDA was $126m (BPe $124m; VA $128m), down 3% YoY, and uNPAT was $43.2m (BPe $45.3m; VA $47.8m), down 8% YoY. The NPAT miss was largely due to a higher net interest expense than forecast. The robust 4Q FY25 Group revenue performance (strongest 4Q performance on record) was the key takeaway. ARPU and sensors on hire have exited FY25 low-to-mid-single digit higher than the PcP.

Looking ahead, the broker highlights that management's commentary has turned more upbeat, which bodes well for its performance in FY 2026. It said:

We have observed a noticeable shift in outlook commentary sentiment, with underlying exploration demand now expected to grow, partly due to rising demand for near-mine and brownfield exploration drilling. IMD is well-positioned to continue delivering robust revenue growth from Krux Analytics and Datarock (+86% and +63% growth in FY25, respectively) in FY26. Lastly, IMD remain focussed on deploying capital towards R&D and further acquisitions.

Buy recommendation

In response to the results, the broker has retained its buy rating on the ASX 200 share with an improved price target of $3.90 (from $3.05).

Based on its current share price of $3.43, this implies potential upside of approximately 14% for investors.

In addition, it is expecting a 1% dividend yield in FY 2026, taking the total potential return to 15%.

Commenting on its buy recommendation, Bell Potter said:

While IMD's FY26 PE multiple of 30.8x is elevated compared with historical levels and prior cycle-peaks, we acknowledge IMD's propensity to deliver robust improvements in profitability from operating leverage. FY25 exit rates are highly encouraging, and with a backdrop of increasing exploration activity, we would anticipate IMD's operating leverage to be a key driver of forthcoming consensus upgrades. We reiterate the Buy recommendation.

The post Top broker says this ASX 200 share can deliver a 15% return appeared first on The Motley Fool Australia.