18 Share Tips – 13th October 2025

Welcome to this week’s edition of 18 Share Tips – our weekly selection of top ASX shares, chosen by leading analysts, that we think are worth considering.

This week Andrew Wielandt of DP Wealth Advisory, Elio D’Amato of EnviroInvest and Tony Paterno of Ord Minnett share their ‘Buy’, ‘Hold’ and ‘Sell’ recommendations.

Please note these share tips are simply recommendations and are in no way intended as financial advice.  These share tips are general advice and don’t take into account any individual’s financial situation. Investors are advised to seek professional financial advice before investing.

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Andrew Wielandt, DP Wealth Advisory

BUY RECOMMENDATIONS

BUY – Firetrail Australian Small Companies Fund – Active ETF (FSML)

This active exchange traded fund focuses on smaller ASX-listed companies. It generally holds between 30 and 60 companies, aiming to outperform the ASX Small Ordinaries Accumulation Index over the medium to long term. The ongoing management expense ratio is 0.85 per cent per annum. Key holdings included Life360, Genesis Minerals and Channel Infrastructure NZ at August 31, 2025. The fund returned 11.03 per cent, after fees, for the month ending August 31, 2025, outperforming the ASX Small Ordinaries Accumulation Index by 2.62 per cent. We expect FSML to continue performing well. The fund has risen from $1.55 on April 9 to trade at $2.27 on October 9.

BUY – Bravura Solutions (BVS)

The company provides software solutions to the wealth management, life insurance and funds administration industries. Recurring revenue of more than 60 per cent adds to its appeal. In a recent update, management upgraded earnings due to a stronger British pound and from generating more work. Forecast earnings per share growth in 2026 and an attractive return on equity paints a bright outlook.

HOLD RECOMMENDATIONS

HOLD – VanEck Australian Subordinated Debt ETF (SUBD)

Listed in October 2019, SUBD holds a portfolio of subordinated bonds, issued predominantly by Australian banks and insurers. The bonds are all investment grade, either rated A or BBB, with an average maturity of eight years. The ETF’s appealing income return was above 5.7 per cent in the 12 months to September 30, 2025. However, it’s important to note that distributions may retreat if the Reserve Bank of Australia’s cash rate falls. I hold this ETF in my self managed super fund.

HOLD – Data #3 (DTL)

Data #3 provides information technology services and solutions. It has a close working relationship with Microsoft, and is a trusted partner across a range of sectors, including government, education and business. A shift to artificial intelligence solutions, such as Copilot, presents DTL with significant project work and hardware upgrade opportunities. Gross sales of $3 billion in fiscal year 2025 were up 9 per cent on the prior corresponding period. We retain a hold recommendation as it was recently trading above consensus valuations.

SELL RECOMMENDATIONS

SELL – Viva Energy Group (VEA)

Viva operates a fuel and retail convenience network of almost 900 stores across Australia. It supplies fuels and lubricants to almost 1500 service stations. It also owns and operates the Geelong refinery. The share price is under sustained pressure in response to weaker sales and lower than usual refining margins in the first half of fiscal year 2025. A 27 per cent fall in tobacco sales, due to an increase in illicit sales, is also hurting the business. The shares have fallen from $2.74 on January 3 to trade at $1.78 on October 9.

SELL – Perpetual (PPT)

This diversified financial services company provides asset management, private wealth and trustee services to Australian and international clients. Active fund managers have been under pressure in the past few years due to the rise in passive investing. PPT reported an underlying profit after tax of $204.1 million in fiscal year 2025, down 1 per cent on the prior corresponding period. This was partially due to net outflows in the asset management business. A statutory loss after tax of $58.2 million was impacted by non-cash impairments of $134.6 million. The company’s shares have fallen $24 on February 20 to trade at $20.04 on October 9. Other financial services companies have delivered stronger performances in a solid performing market.

Elio D’Amato, EnviroInvest

BUY RECOMMENDATIONS

BUY – Energy Action (EAX)

EAX is carving out a niche as a corporate energy advisor and carbon management facilitator. Its fiscal year 2025 results revealed earnings per share of 5.2 cents compared to 1.9 cents in the prior corresponding period, signaling strong growth in its core services business. Its three revenue streams, energy procurement, energy management and solar PV are aligned with the decarbonisation trend. Its low price/earnings ratio underscores upside potential if it can scale up and manage debt. The risk is execution, small size and cash flow volatility, but structural tailwinds justify a buy, in our view.

BUY – Infratil (IFT)

Infratil continues to deliver via its infrastructure investments in renewables, digital platforms and critical services located around the world. A recent disclosure included a renewables valuation workshop that it presented to investors and analysts in September. It benefits from momentum in the clean energy sector, with markets materially re-rating infrastructure exposed to low carbon assets. It’s profitable, growing and pays a small dividend yield. Infratil’s balance sheet and scale give it options to back future transitions. We see clear upside, so it merits investors considering a buy.

HOLD RECOMMENDATIONS

HOLD – Meridian Energy (MEZ)

Meridian is a pure renewables generator based in New Zealand. All its electricity is generated from wind, hydro and solar. It’s recently closed a joint venture for the Te Rahui solar farm and launched a $A250 million green bond to fund its decarbonised growth. Recent financials are challenged by negative margins and hydrology risk. However, the environmental story is strong, but the valuation is already rich, in our view, and upside is moderate.

HOLD – LGI Limited (LGI)

LGI recovers biogas from landfill before converting it to renewable electricity and environmental products for sale. In its fiscal year 2025 result, LGI posted strong revenue growth. However, profit growth, in our view, was marginally underwhelming. It does pay a small dividend, but the valuation appears stretched at this point. The share price has performed, but given execution risk, we retain a neutral stance. The company offers a bright outlook if it can generate increasing scale.

SELL RECOMMENDATIONS

SELL – New Hope Corporation (NHC)

The coal producer reported a strong performance in fiscal year 2025. It delivered increased production and an appealing final fully franked dividend of 15 cents a share. But, in our view, coal faces secular decline pressures and policy risk is intensifying. In our opinion, upside from capital returns and cyclical gains is modest relative to long term structural risks.

SELL – Pure Hydrogen Corporation (PH2)

The objective of this clean technology company is to become a leader in developing low and zero emissions vehicles and energy products. It recently executed a letter of intent with US truck distributor GTS Group to support the roll-out of hydrogen-powered heavy vehicles in North America. However, PH2 remains a loss-making company, with high dilution risk, in our view. Also, in our opinion, its pivot to spin out gas assets suggests management is hedging its hydrogen bet. But questions remain on the viability of hydrogen as an energy source, with significant investment elsewhere. Perhaps PH2 will make progress with its strategy. But we believe downside and dilution risks exceed the outlook at this point.

Tony Paterno, Ord Minnett

BUY RECOMMENDATIONS

BUY – MyState Limited (MYS)

MYS is a national diversified financial services group. Brands include MyState Bank, Auswide Bank, Selfco and TPT Wealth. The company managed $12.9 billion in home loans at the time of reporting its full year results in August. It had 275,000 customers across Australia’s eastern seaboard. MyState delivered an inline profit result and final dividend in fiscal year 2025. We expect MyState to extract increasing synergies from the Auswide merger in fiscal years 2027 and 2028. Also, integration costs should subside. MYS is an attractive income stock, and should deliver a fully franked dividend yield above its peer banks and the small capitalisation market during the next three years.

BUY – Qube Holdings (QUB)

Qube provides integrated import and export logistics services in Australia. Underlying revenue of $4.46 billion in fiscal year 2025 was up 27.3 per cent on the prior corresponding period. The dividend of 9.8 cents was up 7.1 per cent. Given recent share price weakness, we have upgraded Qube to a buy rating, noting the company’s diversified earnings across segments and geographies assists in cushioning the impacts of specific customer contract losses. The strong balance sheet and elevated capital expenditure program supports earnings forecasts moving forward.

HOLD RECOMMENDATIONS

HOLD – Bega Cheese (BGA)

The profitability of this dairy and food company has recovered as the gap between farmgate milk prices and global commodity prices has narrowed. However, increases in the farmgate milk price may limit further profit gains from the bulk segment. BGA guided for normalised EBITDA to range between $215 million and $220 million in fiscal year 2026, up from $202 million in fiscal year 2025. The company maintains its long term focus on achieving its fiscal year 2028 target of more than $250 million in earnings and a return on funds employed exceeding 10 per cent.

HOLD – Shaver Shop Group (SSG)

SSG maintains a strong market position in the personal care segment, generating appealing returns on invested capital. The gross margin of 45.5 per cent in fiscal year 2025 was up 110 basis points on the prior corresponding period. Earnings before interest and tax of $22.5 million was up 2.4 per cent. We expect earnings to consolidate around current levels.

SELL RECOMMENDATIONS

SELL – James Hardie Industries PLC (JHX)

JHX is a building products maker. The share price responded positively when the company recently announced an improving performance for siding and trim sales. Improving preliminary second quarter results announced on October 7 are subject to adjustment and will be officially confirmed in November, along with the company outlook. Group net sales of $US900 million in the first quarter of fiscal year 2026 were down 9 per cent on last year’s prior corresponding period. Net income of $US62.6 million was down 60 per cent. Softer conditions in the US building market were well flagged and remains a challenge. The shares jumped from $30.87 on October 6 to trade at $33.25 on October 9. However, the shares have fallen from $54.50 on January 20.

SELL – Lynas Rare Earths (LYC)

Lynas is the only commercial producer of separated light and heavy rare earth oxides outside of China. The company recently raised $932 million from institutional investors and eligible shareholders to accelerate growth from additional balance sheet strength. However, the company announced in August that it’s uncertain whether construction of its heavy rare earths processing facility in the US state of Texas will proceed. The company’s shares have risen from $6.85 on April 2 to trade at $20.03 on October 9. We believe the shares are overvalued for a company with weaker earnings in fiscal year 2025 when compared to the prior corresponding period. Investors may want to consider cashing in some gains at these levels.

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