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 Michael Gable of Fairmont Equities, Toby Grimm of Baker Young, and Philippe Bui of Medallion Financial Group 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.
Michael Gable, Fairmont Equities
BUY RECOMMENDATIONS
BUY – Cauldron Energy (CXU)
CXU is a uranium explorer in Western Australia. I remain bullish about the long term prospects for uranium. In late April, Cauldron was awarded two EIS (exploration incentive scheme) co-funded grants of up to $217,750 by the Western Australian Government for uranium exploration at its Yanrey project. On July 22, the company announced a drill campaign had returned high grade uranium results at the Manyingee north deposit, extending known mineralisation to the north and south. The shares have risen from 4 cents on June 2 to trade at 16 cents on July 23. If the uranium mining ban in Western Australia is lifted and uranium prices increase, Cauldron’s share price could be significantly re-rated.
BUY – Rio Tinto (RIO)
Copper equivalent production was up 3 per cent in the first half of 2026 when compared to the prior corresponding period. Global iron ore sales in the second quarter were up 5 per cent year-on-year. Pilbara sales were up 7 per cent and lithium production rose 20 per cent. Results met or exceeded expectations of most analysts. A rare buy signal recently appeared on the daily relative strength index (RSI), which is a momentum indicator. The price pullback that started in June is mostly over and is transitioning to a more favourable risk/reward ratio, in my view.
HOLD RECOMMENDATIONS
HOLD – Woodside Energy Group (WDS)
I have previously recommended this major oil and gas producer as a buying opportunity. The shares responded to the recent escalation in the Middle East conflict. Upwards momentum has seen the shares increase from $27.43 on June 25 to trade at $31.86 on July 23. The US strategic petroleum reserve was recently at a 43-year low, so, in my view, it will be difficult to keep a lid on crude oil prices As the biggest energy stock on the ASX, we expect buying support to continue increasing for WDS.
HOLD – Genesis Minerals (GMD)
Genesis is a gold miner focusing on the Lenora and Laverton districts of Western Australia. The gold price overshot earlier this year and has undergone a consolidation. This has also led to a pullback in the share price. Gold prices appear to be stabilising and central bank buying of gold is starting to resume. I see substantial upside from GMD’s merge with Vault Minerals, which is in close proximity, as the deal offers unique operational synergies and potential share price upside. The transaction is targeted to be implemented in November.
SELL RECOMMENDATIONS
SELL – ASX Limited (ASX)
The ASX operates Australia’s primary securities exchange. However, a recent share price recovery has left the stock trading above consensus valuation targets. With market volumes and corporate activity still appearing weak amid increasing technology costs, I believe the risk is to the downside. The ASX has settled legal action with the Australian Securities and Investments Commission (ASIC). The Federal Court ordered ASX to pay a $20.5 million penalty and $3 million in ASIC costs after ASIC alleged the ASX had made misleading statements about the progress of the CHESS replacement project.
SELL – Orora (ORA)
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In April, this packaging company downgraded fiscal year 2026 earnings guidance for its Saverglass business. The conflict in the Middle East and weaker customer confidence is also impacting performance. The shares are entrenched in a downtrend and this further heightens the risk of lower share price levels, in my view. The shares were priced at $2.34 on February 25, three days prior to the start of the war in Iran. The shares were trading at $1.462 on July 23. Other stocks appeal more in challenging times across the globe.
Toby Grimm, Baker Young
BUY RECOMMENDATIONS
BUY – Auckland International Airport (AIA)
The owner of New Zealand’s premier airport has been impacted by the conflict in Iran and limited new aircraft availability. Also, technical issues have contributed to softer passenger growth. We view capacity constraint and geopolitical issues as temporary. AIA is a tier one infrastructure asset. Owning the airport land adds appeal to this quality stock that was recently trading below fair value. AIA offers strong medium term recovery potential, so we believe it presents as an opportunity to accumulate stock at these levels.
BUY – SGH Limited (SGH)
This diversified company has businesses across industrial services, energy and media. Continuing demand for mining and infrastructure construction underpin a positive outlook for the WesTrac, Coates Hire and Boral businesses. SGH also has a 30 per cent interest in Beach Energy. In our view, SGH is a high quality, long term cyclical stock supported by structural themes. Potential exists for capital returns, either via a dividend or buy-back, when it reports full year results in August.
HOLD RECOMMENDATIONS
HOLD – Aurizon Holdings (AZJ)
Aurizon is Australia’s largest rail freight operator. Total containerised freight for the 10 months to April 30 was up 13.2 per cent compared to the prior corresponding period. Growth was driven by new and existing customers. The company re-affirmed full year 2026 guidance. Group underlying EBITDA is forecast to range between $1.68 billion and $1.75 billion. Coal and bulk EBITDA are expected to be higher. The stock was recently trading on an appealing dividend yield. The shares have risen from $3.26 on July 28, 2025 to trade at $4.355 on July 23, 2026.
HOLD – Treasury Wine Estates (TWE)
Adverse category trends in the United States and China impacted this global wine company. Cyclically, it’s too early to call a bottom in wine sales and margins, but new management has announced significant steps to improve supply chain flexibility amid reducing exposure to commercial wine. We envisage a recovery from here. However, the new strategy carries execution risk and potentially limits earnings in good times. But, if successful, it should improve profitability if wine industry dynamics don’t recover as rapidly as hoped.
SELL RECOMMENDATIONS
SELL – Reece (REH)
This plumbing supplies company operates in Australia, New Zealand and the United States.
The stock has rallied from its lows in 2025 amid hopes of improved US trading and what was a strong Australian housing market. But the Australian market is now experiencing subdued housing conditions following proposed changes to capital gains tax and negative gearing announced in the Federal Budget. In our view, elevated interest rates in the US is a headwind to construction and renovation market demand. The stock was recently trading on a lofty price/earnings ratio of about 35 times and well above our valuation.
SELL – PEXA Group (PXA)
PEXA operates a leading digital property platform and settles most transactions in Australia. It also operates in the UK. In Australia, a draft report proposes about a 20 per cent reduction in PXA’s regulated revenue requirement via reductions to certain transfer transaction fees over a year. The independent Pricing and Regulatory Tribunal (IPART) in New South Wales is reviewing electronic lodgement network operator (ELNO) service fees. PEXA has submitted formal objections to the IPART draft proposal. We expect PXA to win some concessions, but revenues in the core division may come under pressure at a time when the housing market is materially softening.
The contributor, their employer, and their associates may hold interests in, receive benefits from, or have relationships with the securities mentioned that could influence the views expressed.
Philippe Bui, Medallion Financial Group
BUY RECOMMENDATIONS
BUY – 4DMedical (4DX)
4DMedical is an Australian respiratory imaging company. Its CT:VQ platform uses existing CT scans to improve evaluating lung function amid diagnosing conditions. Since CT:VQ obtained US Food and Drug Administration (FDA) clearance in 2025, the company has secured deployments with six leading US academic medical centres. A bipartisan bill in the US directing the Department of Veterans Affairs to establish a pilot program using 4D functional lung imaging software to identify respiratory disorders and lung disease is an encouraging development. The company is well capitalised and we remain content holders at current levels given several potentially positive catalysts.
BUY – Saluda Medical, Inc. (SLD)
Saluda is a clinical stage medical device company. It makes the Evoke spinal cord stimulator — the only closed loop device that automatically adjusts pain therapy in real time. Clinical results are strong, with 90 per cent of patients preferring it to traditional systems. The recent FDA approval of the CAP24 surgical paddle lead meaningfully expands the addressable market by 30 per cent. A commercial roll-out of CAP24 is expected later this year, adding a new revenue channel through surgical implants. Guidance has been upgraded twice since listing in December 2025, and the valuation is compelling at current levels, in our view.
HOLD RECOMMENDATIONS
HOLD – Tasmea (TEA)
Tasmea provides specialised trade services to the mining, resources and industrial sectors. First half underlying revenue in fiscal year 2026 grew by 31 per cent to $323.1 million and underlying earnings before interest and tax was up 36 per cent to $44.3 million. The fully franked interim dividend of 6 cents a share was up 20 per cent. The recent acquisition of JPS Group adds exposure to LNG and energy infrastructure. With full year guidance reaffirmed, earnings visibility is high.
HOLD – Megaport (MP1)
Megaport is a leading global network-as-a-service provider. The business is riding two powerful trends — the global data centre build and the shift to multi cloud. Global data centre capital expenditure is projected to reach $US1.7 trillion by 2030. Wholly owned subsidiary Latitude.sh recently signed three contracts, adding $A254 million in annual recurring revenue. Results in the first half of 2026 confirmed growth is high quality, with EBITDA up 28 per cent to $A35.3 million. The shares have soared since April, so much of the good news is now priced into the stock, in our view. We remain content holders at current levels.
SELL RECOMMENDATIONS
SELL – Treasury Wine Estates (TWE)
The winemaker is undertaking a major transformation program. It reported a statutory net loss after tax of $649.4 million in the first half of fiscal year year 2026, driven by non-cash impairments of US assets. It suspended the interim dividend in what it deemed a temporary measure to preserve capital and reduce leverage. In our view, the turnaround plan, which includes reducing non-core brands, presents a headwind, as they represent significant volume. A recovery will take time, so we see better opportunities elsewhere.
SELL – Bapcor (BAP)
Bapcor is an aftermarket automotive parts provider in Australia and New Zealand. It operates the Autobarn, Burson and Autopro brands. Macro headwinds for consumer discretionary products and weaker retail conditions are pressuring the business. Bunnings, owned by Wesfarmers, is expanding into the automotive category and is an intensifying competitive threat. The shares remain under pressure. The stock has fallen from $5.24 on July 7, 2025 to trade at 39.5 cents on July 23, 2026. Other stocks appeal more at this stage of the cycle.
The above recommendations are general advice and don’t take into account any individual’s objectives, financial situation or needs. Investors are advised to seek their own professional advice before investing. Please note that TheBull.com.au simply publishes broker recommendations on this page. The publication of these recommendations does not in any way constitute a recommendation on the part of TheBull.com.au. You should seek professional advice before making any investment decisions.
