18 Share Tips – 23rd March 2026

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 Philippe Bui of Medallion Financial Group, Andrew Wielandt of DP Wealth Advisory and Tony Locantro of Alto Capital 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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Philippe Bui, Medallion Financial Group

BUY RECOMMENDATIONS

BUY – Saluda Medical, Inc (SLD)

SLD is a commercial stage medical device company targeting the global chronic pain market with its Evoke spinal cord stimulation platform. Revenue was up 17 per cent in the first half of 2026 when compared to the prior corresponding period as adoption accelerates in the US pain management market. Operating leverage should drive meaningful margin expansion. Given a large addressable market and clinical traction, the company has the potential to grow into a much bigger medical technology business. At current prices, Saluda appears attractively valued, in our view.

BUY – Carma (CMA)

Carma is a technology-driven platform aiming to modernise Australia’s $70 billion used car market. The business raised about $100 million at its initial public offering to expand inventory, logistics and marketing. CMA’s vertically integrated model of sourcing, re-conditioning and selling vehicles online enables Carma to capture margin across the entire value chain. Early investment has been focused on building scale and brand recognition, positioning the company for strong operating leverage as volumes increase. The used car market remains highly fragmented, so it gives Carma a significant opportunity to gain market share. If execution remains strong, revenue growth could accelerate rapidly, making the current valuation look modest.

HOLD RECOMMENDATIONS

HOLD – Capstone Copper Corp. (CSC)

The company provides exposure to one of the strongest long term commodity themes — increasing copper demand driven by electrification, energy transition and global infrastructure investment. The company produces about 200,000 tonnes of copper equivalent annually, and has a pipeline of expansion projects capable of materially increasing production over time. With copper supplies expected to tighten structurally in coming years, Capstone is well positioned to benefit from higher long term prices. While capital expenditure remains elevated during the expansion phase, the growth outlook is compelling. Investors already positioned in the stock should continue to hold exposure to what we regard as an appealing long term copper growth story.

HOLD – Greatland Resources (GGP)

GGP offers exposure to the Havieron gold-copper project in Western Australia, widely regarded as one of the most significant gold discoveries in recent years. The project hosts a large multi-million ounce resource and has the potential to become a long life, low cost mining operation. Given gold prices remain strong amid company development progressing steadily, GGP is moving closer to becoming a meaningful producer. The strategic value of Havieron continues to attract strong market interest. While the share price has already responded to this potential, further resource growth and development progress could continue to support the investment case.

SELL RECOMMENDATIONS

SELL – Commonwealth Bank of Australia (CBA)

CBA remains the highest quality franchise among Australia’s major banks, but the valuation now looks stretched. The stock trades on a price-to-earnings multiple well above its peers despite similar earnings growth prospects. The recent annual dividend yield around 3 per cent is modest compared with other income opportunities. With credit growth slowing and net interest margins stabilising, we believe earnings momentum is unlikely to justify such a premium valuation. After a strong share price run, investors may want to consider taking profits and reallocating capital to more attractively valued opportunities.

SELL – Bapcor (BAP)

Bapcor is an aftermarket automotive parts provider. It operates the Autobarn, Burson and Autopro brands.

Earnings momentum has deteriorated. While the automotive aftermarket is generally defensive, Bapcor’s competitive position appears to have weakened and an earnings recovery may take time. The shares have fallen from $5.22 on July 14, 2025 to trade at 62.5 cents on March 19, 2026. Investors may be better served redeploying capital into stronger businesses with clearer growth momentum.

Andrew Wielandt, DP Wealth Advisory

BUY RECOMMENDATIONS

BUY – Munro Global Growth Fund Complex ETF (MAET)

Funds under management, including it’s unlisted managed fund, exceed $1 billion. This exchange traded fund focuses on global companies involved in high performance computing, digital enterprise, climate, innovative health and security. Also, the ETF focuses on capital preservation. Main investments in its February 2026 report included Nvidia, TSMC, Amazon and Alphabet. During the past five years, the fund has returned 9.1 per cent per annum. I hold MAET in my self managed super fund. I like the fund’s historical record and outlook.

BUY – Betashares S&P/ASX Australian Technology ETF (ATEC)

This exchange traded fund invests in Australian technology companies. Across global exchanges, technology companies have been under pressure in response to the interruption and impact of artificial intelligence. Companies held in this ETF include Computershare, WiseTech Global and Xero. Performance has been sub-optimal in the past 12 months, but has returned more than 9 per cent per annum in the past three years. ATEC had net assets of more than $483 million at March 18, 2026. An opportunity exists on a weaker share price and potentially improving technology stocks moving forward. 

HOLD RECOMMENDATIONS

HOLD – QBE Insurance Group (QBE)

QBE is a well managed global business with a strong return on equity and improving profit margins. Adjusted return on equity was 19.8 per cent in full year 2025 compared to 18.2 per cent in the prior corresponding period. Gross written premiums grew 7 per cent. Insurance companies rely on investment returns, which is challenging in a volatile global market. We retain a hold recommendation given QBE is trading near a 12 month consensus valuation.

HOLD – Challenger (CGF)

Challenger is an annuity provider, operating in an appealing space given the Federal Government’s focus on meeting the challenges of an ageing population. CGF posted record annuity sales of $3.8 billion in the first half of fiscal 2026, up 32 per cent on the prior corresponding period. Normalised net profit after tax of $229 million was up 2 per cent. Japanese life insurer TAL Dai-ichi holds a 19.9 per cent interest in CGF, which is positive for CGF. But the interest rate sensitive nature of the TAL business leaves me with a hold on CGF. 

SELL RECOMMENDATIONS

SELL – Qantas Airways (QAN)

Qantas is a well managed domestic and international airline, holding a 70 per cent market share in Australia. The shares were trading at $10.65 on February 25, a day prior to the company posting its first half year result in fiscal year 2026. The stock was trading at $8.46 on March 19. Qantas announced on March 13, 2026 that it had settled a class action for $105 million regarding flight credits during COVID-19. The company has hedged jet fuel supply prices in the shorter term, but I’m concerned about the impact of possibly higher crude oil prices over the longer term. I’m also mindful of the expense involved in Qantas upgrading its airline fleet after years of under investment by previous management as well as COVID-19. Qantas has a high fixed cost base. In my view, it’s a cyclical stock due to its reliance on consumer and business sentiment. Other stocks appeal more at this point.

SELL – ARN Media (A1N)

A1N is a radio and digital media company. It’s market capitalisation was about $104 million on March 19, 2026. However, daily share turnover is modest and a deterrent to many institutional investors seeking liquidity with their listed investments. The shares have fallen from 56 cents on October 29, 2025 to trade at 33.5 cents on March 19, 2026. Potential for rising interest rates may dampen consumer sentiment and therefore business spending on advertising. 

Tony Locantro, Alto Capital

BUY RECOMMENDATIONS

BUY – Kingston Resources (KSN)

Kingston Resources is advancing the Mineral Hill gold and base metals operation in New South Wales, where recent underground drilling has returned wide, high grade polymetallic intersections within the southern ore zone. The results confirm encouraging gold, copper, lead, zinc and silver mineralisation in areas planned for near-term underground stoping, strengthening the existing mineral resource model and supporting mine planning. Selling the Misima gold project strengthened its balance sheet. With improving operational momentum and leverage to multiple metals, Kingston offers potential for a re-rating as Mineral Hill ramps up.

BUY – Eagle Mountain Mining (EM2)

The company is advancing the Oracle Ridge copper project in the US state of Arizona, an historic mining district with established infrastructure and strong geological potential. The company recently announced that Japanese group Nittetsu Mining has completed due diligence on the project, with the parties progressing towards legal documentation for a potential joint venture. Subject to Nittetsu board approval, binding agreements could be signed in the coming months, representing significant validation of the asset. 

HOLD RECOMMENDATIONS

HOLD – Pacgold (PGO)

Drilling at the Alice River gold project in North Queensland highlights a large scale mineralised system across multiple prospects. Also, the company is resuming the White Dam gold project in South Australia after recently receiving approval for heap leach irrigation and re-processing of about 500,000 tonnes of previously stacked ore to improve gold recovery, representing a low cost opportunity to generate near term production. While these developments are encouraging, Alice River remains an evolving exploration story, supporting a neutral stance pending further drilling and operational results.

HOLD – Great Southern Mining (GSN)

Great Southern Mining is an exploration company with projects across Western Australia and Queensland. The company has recently started diamond drilling, supported by up to $337,500 in Western Australian government funding. GSN is targeting the Diorite Hill and Golden Boulder prospects. The drilling program will test deep structural targets and follow up encouraging shallow gold intercepts from previous campaigns. While exploration upside remains attractive, results are still early-stage, supporting a hold position while the current drilling program progresses.

SELL RECOMMENDATIONS

SELL – DroneShield (DRO)

DroneShield operates in the counter-drone defence technology sector, providing detection and mitigation systems used to protect military, government and critical infrastructure assets. The company has benefited from strong investor interest in defence and security technologies, with the share price rallying sharply over the past year in response to geopolitical tensions and intensifying defence spending narratives. While the long term outlook for counter-drone solutions remains compelling, DroneShield’s valuation increasingly reflects significant future growth expectations. Revenue remains contract-driven and can be uneven, with earnings visibility still developing as the company scales up globally. Following recent share price strength and a re-rating, the current risk-reward balance favours taking profits at present levels.

SELL – Liontown Limited (LTR)

LTR’s Kathleen Valley lithium project in Western Australia is one of the largest new hard-rock lithium operations globally. The company’s first half year result in fiscal year 2026 highlighted strong operational progress, with production ramping up and revenue increasing significantly from growing concentrate shipments. However, Liontown reported a net loss of $184 million, reflecting accounting charges and the ongoing costs associated with scaling up the operation. While the long term outlook for lithium demand remains encouraging, the current share price appears to reflect a large portion of the project’s future growth potential. With earnings still developing and the company transitioning through a capital intensive ramp-up phase, the risk-reward balance at current levels favours taking profits following the sector’s recent re-rating.

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.