18 Share Tips – 26th January 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 Remo Greco of Sanlam Private Wealth, Stuart Bromley of Medallion Financial Group and John Athanasiou of Red Leaf Securities 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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Remo Greco, Sanlam Private Wealth

BUY RECOMMENDATIONS

BUY – BHP Group (BHP)

The resources upgrade cycle continues to unfold as global growth conditions strengthen into 2026. Expected US interest rate cuts should stimulate global growth and put downward pressure on the US dollar. Commodity markets are already tight in terms of adequate supply, and this is already pushing mining stocks higher. This is a global theme. BHP fits the bill as global investors are drawn to earnings upgrades driving share price gains. Also, investors are exposed to a currency gain if the Australian dollar strengthens during 2026.

BUY – Reece (REH) 

The share price of this plumbing supplies company rebounded in November after Reece reported a better than expected trading result in the first quarter of 2026. However, the share price is still trading way below its January 2025 levels. Trading conditions involving the company’s US business may have bottomed. Group sales revenue of $2.407 billion in the first quarter of 2026 was up 8 per cent on the prior corresponding period. Store openings are making a good contribution, with the company adding five in Australia and 10 in the US during the quarter. The ongoing US store expansion enhances confidence in the business model, despite challenging trading challenges. We believe the worst is mostly behind REH.

HOLD RECOMMENDATIONS

HOLD – Sigma Healthcare (SIG) 

At its recent annual general meeting, this retail pharmacy franchisor and pharmaceutical wholesaler announced it would continue to roll out new stores domestically and internationally. It would revitalise the Amcal and Discount Drug Store brands. Chemist Warehouse network sales were up 17.9 per cent in the first quarter of 2026 and like-for-like sales were up 14.7 per cent. So far, SIG appears to be delivering on its lofty expectations.

HOLD – GQG Partners Inc. (GQG)

GQG is a boutique active asset manager specialising in managing global equities. Total funds under management of $US163.9 billion at December 31, 2025 were up from $US153 billion in the prior year. The company trades on a modest valuation and offered an attractive dividend yield above 10 per cent on January 22, 2026. The company delivered revenue and net profit growth at its latest 2025 half year result when compared to the prior corresponding period.

SELL RECOMMENDATIONS

SELL – ANZ Group Holdings (ANZ)

Investors responded positively after the bank unveiled its 2030 strategy in late 2025. The shares rose from $32.67 on September 24, 2025 to close at $38.85 on November 12. Given ANZ was the cheapest major bank in the sector with the highest yield, the bounce was understandable.The shares were trading at $36.34 on January 22, 2026. The 2030 strategy included ceasing the $800 million share buy-back and accelerating delivery of the ANZ Plus digital front end to all retail and business customers. Reducing duplication and simplifying the bank is part of the plan. We believe the ANZ is trading at a premium given the early stages of an ambitious strategy. We would be inclined to lock in some profits at these levels.

SELL – Medibank Private (MPL)

MPL is a private health insurer, operating in a fiercely competitive sector. Cost-of-living increases may pressure some policy holders to downgrade or cease their cover. We expect private health cover premiums to attract Federal Government scrutiny, while private hospitals are demanding a better deal from private health insurers. Medibank has performed well in the past few years, but the outlook appears challenging in a difficult economic environment. The shares have been under pressure since closing at $5.26 on August 21, 2025. The shares were trading at $4.64 on January 22, 2026.

Stuart Bromley, Medallion Financial Group

BUY RECOMMENDATIONS

BUY – NexGen Energy (Canada) (NXG)

NexGen continues its journey to become a long life and low cost uranium producer in mining friendly Canada, a geopolitically stable country. The company recently revealed the Patterson Corridor East discovery is expanding rapidly on multiple fronts. Vertical and lateral growth materially increases the mineralised footprint and leaves potential additional discoveries open at depth and along strike — precisely what the market wants from a basin-scale uranium play. With a large drilling program underway and broader uranium fundamentals improving, NXG remains well positioned among global peers.

BUY – Saluda Medical, INC (SLD)

Saluda is a commercial stage medical device company. In our view, it presents compelling exposure to structural growth in chronic disease management. The company’s closed loop spinal implant actively receives and manages nerve pain via electrical stimulation without external button pressing. SLD’s offering is gaining practitioner adoption, given SLD’s heavy focus on the big and lucrative US market. The company issued shares in the initial public offering (IPO) at $2.65 each prior to listing in December 2025 in what ended up as a poor period for IPOs across the board. Investors now have the chance to buy the stock at what we consider a cheap price. The shares were trading at $1.20 on January 22, 2026. With IPO funding going towards doubling the company’s salesforce, we expect Saluda to generate revenue growth as it builds a foothold in the space.

HOLD RECOMMENDATIONS

HOLD – Technology One (TNE)

Technology One remains a high quality, recurring revenue software business with product depth and customer loyalty. Near term momentum has been lacklustre, with growth rates moderating. The share price pull-back leaves TNE as a hold, or even presents an opportunity to accumulate a longer term powerhouse during a period of sector- wide re-pricing. TNE remains a structural leader in enterprise applications and we don’t see this market strength ceasing any time soon.

HOLD – Pro Medicus (PME)

The company provides medical imaging software and services to hospitals and healthcare groups across the world. The company retains best-in-class imaging software that should generate high margins and structural growth from  a steady flow of new contract wins amid bigger and longer contract renewals with existing customers. The significant share price retreat leaves PME as a hold, but also presents an opportunity to enter a top class business at an attractive price. 

SELL RECOMMENDATIONS

SELL – Myer Holdings (MYR)

The department store giant delivered disappointing results in full year 2025, in our view. Sales were weaker than expected. Earnings before interest and tax of $140.3 million, excluding significant items, were down 13.8 per cent on the prior corresponding period. MYR didn’t declare a final dividend. Ongoing cost challenges and pressures on discretionary spending have continued to weigh on investor sentiment. The shares have fallen from 96 cents on January 23, 2025 to trade at 48 cents on January 22, 2026. We see risk/reward skewed towards further downside rather than a stabilised rebound in the current cycle.

SELL – Domino’s Pizza Enterprises (DMP)

Domino’s may be a turnaround play if current cost cutting, franchise improvements and international expansion go to plan. But we see execution risk in Asia and Europe. The company posted a statutory net loss of $3.7 million in fiscal year 2025, which was impacted by one-off items. The shares have recovered from their lows, but are well below their highs of previous years. The company operates in a fiercely competitive sector, where margins can be pressured. Until DMP shows a sustained recovery, we prefer to sit on the sidelines. Other stocks appeal more at this stage of the cycle.

John Athanasiou, Red Leaf Securities

BUY RECOMMENDATIONS

BUY – Straker (STG)

The company provides next generation language services. In our view, Straker presents a speculative, but  appealing opportunity in the artificial intelligence (AI) space. The company is pivoting from traditional translation services to a high margin, AI-enabled platform model. A key catalyst includes the IBM partnership — a three-year renewal agreement positions Straker as a strategic AI language partner with access to more than 200 global enterprise clients. Transitioning to proprietary small language models provides high margin options, while a $70 million research and development fund in Japan provides upside without balance sheet risk. Positive cash flow is expected in full year 2026 and the company is debt free. 

BUY – Iress (IRE)

Its software powers financial platforms for broking houses, wealth managers and super funds, giving it high client stickiness and resilient cash flow. Recent strategic initiatives to focus on core operations and divest underperforming segments have stabilised margins and improved free cash flow, setting the stage for earnings consistency. Market sentiment remains subdued in response to residual concerns over legacy systems and integration risk, but much of that is already priced into the stock. Increasing digital financial services amid greater focus on compliance and automation positions Iress to capture market share. Iress is a quality business, offering predictable recurring revenue and defensive growth.

HOLD RECOMMENDATIONS

HOLD – Macquarie Group (MQG)

Macquarie continues to deliver strong diversified earnings across banking, asset management and commodities, but most of its quality is reflected in recent share prices. The balance sheet is robust and capital management is disciplined. But cyclical exposures, particularly in capital markets and commodity-linked divisions, leave limited upside in the near term, in our view. For existing shareholders, Macquarie remains a high quality core holding, offering attractive dividends and resilient earnings through cycles. However, we can’t immediately identify any catalysts justifying aggressive accumulation. Maintaining positions while awaiting potentially more attractive entry points is the prudent strategy. 

HOLD – BWP Group (BWP)

The real estate trust continues to offer defensive income characteristics via its long-dated leases, anchored by hardware giant chain Bunnings Warehouse. The portfolio offers reliable cash flow, low tenant risk and limited capital expenditure requirements, making it attractive in uncertain macroeconomic conditions. However, in our view, growth remains limited and asset valuations are sensitive to interest rates. While existing holders benefit from steady distributions and low volatility, new capital might achieve better risk-adjusted returns elsewhere. We recommend retaining exposure to BWP for income and stability as opposed to accumulating the stock.

SELL RECOMMENDATIONS

SELL – Boss Energy (BOE)

Boss Energy remains highly leveraged to uranium market sentiment, with its valuation reflecting optimistic production assumptions and pricing scenarios. Any operational delays or cost over-runs could impact returns. In our view, companies with clearer earnings visibility are a more appealing alternative. The stock has fallen from $4.48 on July 1, 2025 to trade at $1.78 on January 22, 2026. The shares may remain under pressure in what can be a volatile sector. 

SELL – Magellan Financial Group (MFG)

The fund manager invests in global equities. Magellan faces the challenges of fee pressure, potentially slower fund inflows and increasing competition from passive and low-cost global managers. In our view, growth catalysts are limited in the longer term. Returns can vary depending on market performance. Existing investors may consider reducing exposure, while new capital is better allocated to businesses with stronger earnings visibility. The shares have fallen from $12.18 on January 24, 2025 to trade at $9.14 on January 22, 2026.

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.