18 Share Tips – 6th 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 Damien Nguyen of Morgans, Blake Halligan of Catapult Wealth and Nathan Lodge of Securities Vault 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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Damien Nguyen, Morgans

BUY RECOMMENDATIONS

BUY – Pinnacle Investment Management Group (PNI)

Pinnacle offers leveraged exposure to the growth of active funds management via its multi-affiliate model across equities and private credit, among other alternatives. With stakes in a range of boutique managers amid a scalable platform supporting distribution and infrastructure, the business benefits from diversified earnings and embedded operating leverage. Strong affiliate performance and offshore expansion provide catalysts for long term growth. We believe the stock is undervalued relative to its quality and growth profile. The shares have fallen from $25.33 on August 7 to trade at $18.41 on October 2.

BUY – REA Group (REA)

REA Group provides Australia’s leading digital real estate platform, with dominant market share and strong brand recognition. Its core Australian site benefits from an appealing and dynamic network and consistent product innovation. International expansion, particularly in India, adds a long runway for growth. We view the current price as an attractive entry point for long term investors seeking quality growth exposure. The shares have fallen from $263.16 on August 22 to trade at $225.80 on October 2.

HOLD RECOMMENDATIONS

HOLD – ResMed Inc (RMD)

ResMed remains a global leader in treating sleep disordered breathing and providing respiratory care. The company is supported by strong fundamentals and a growing software-as-a-service segment. However, investor sentiment has softened due to concerns around competition and broader negativity towards healthcare stocks. While long term prospects remain intact and downside appears limited, we suggest existing stockholders remain invested. Revenue of $5.1 billion in full year 2025 was up 10 per cent on the prior corresponding period.

HOLD – Woolworths Group (WOW)

The supermarket giant continues to be a defensive play in the retail sector, supported by strong market positions in food and general merchandise. However, recent performance has been mixed in response to margin pressure and subdued sales growth. Normalised group sales in full year 2025 were up 3.6 per cent on the prior corresponding period, but normalised group net profit after tax was down 17.1 per cent. Management has flagged fiscal year 2026 as transitional, but it may take time to restore momentum. We suggest income-focused investors hold the stock. The shares have fallen from a yearly high of $33.76 to trade at $26.53 on October 2.

SELL RECOMMENDATIONS

SELL – Commonwealth Bank of Australia (CBA)

CBA is a high quality bank with strong market share, but its valuation is stretched relative to peers. It trades on a significantly higher price-to-earnings ratio compared to global counterparts. Slowing credit growth, margin compression and rising household financial stress poses a risk to earnings. With limited upside and a premium valuation, we believe it’s prudent to lock in some gains and rotate into better value financials.

SELL – Wesfarmers (WES)

Wesfarmers has a strong portfolio of businesses, but near term risks are building. Lithium losses, margin pressure at the Bunnings hardware giant and a potentially softer consumer environment weigh on sentiment. The shares have risen from $68.53 on April 7 to trade at $91.45 on October 2. In our view, the stock trades at a premium to discretionary peers, and we see better opportunities elsewhere. The company’s growth outlook doesn’t support its current valuation. Investors may want to consider taking profits before moving the proceeds to more attractively priced alternatives.

Blake Halligan, Catapult Wealth

BUY RECOMMENDATIONS

BUY – Vanguard MSCI Australian Small Companies Index ETF (VSO)

VSO invests in small to medium sized companies listed on the ASX. Given many of Australia’s largest listed companies are considered either overvalued, or with limited upside, we see more growth opportunities in companies within the small to mid-sized sectors. Top VSO holdings included JB Hi-Fi and Technology One at August 31. What also appeals about VSO is exposure to a diversified portfolio, which spreads risk.

BUY – Steadfast Group (SDF)

Steadfast is the biggest general insurance broking and underwriting agency in Australasia, and is starting to grow across the globe. The company is steadily growing organically and via acquisitions. SDF can benefit from increasing insurance premiums without taking on the underlying insurance risk. Underlying net profit after tax of $295.5 million in full year 2025 was up 17.2 per cent on the prior corresponding period. The final fully franked dividend of 11.7 cents was up 14 per cent. The company has forecast underlying net profit after tax of between $315 million and $325 million in fiscal year 2026. We like the company’s outlook.

HOLD RECOMMENDATIONS

HOLD – Sonic Healthcare (SHL)

This global pathology services provider is regaining earnings momentum after COVID-19 related revenues eased. The company used its pandemic windfall to fund acquisitions, which, along with organic growth and cost reductions, are expected to drive strong earnings growth in coming years. With a commitment to steady dividends, SHL was recently trading on a solid dividend yield of about 5 per cent. The company generated revenue and profit growth in full year 2025, but the market generally considered the result below expectations.

HOLD – ResMed Inc (RMD)

ResMed makes medical devices to treat sleep disordered breathing, such as sleep apnoea. Many sleep disordered sufferers are yet to be diagnosed, which paints a brighter outlook for sales growth. Growing awareness, aided by new technologies and health trends, could further support demand for treating sleep disordered breathing. The stock is regarded as one of the highest quality healthcare companies and appears attractively valued after retreating from $45.07 on August 25 to trade at $40.85 on October 2.

SELL RECOMMENDATIONS

SELL – Lynas Rare Earths (LYC)

Lynas is the largest producer of rare earths outside of China. Concerns about the trade relationship between China and the United States has contributed to a strong increase in the Lynas share price. The shares have risen from $6.85 on April 2 to trade at $17.26 on October 2. The company recently raised $932 million from institutional investors and eligible shareholders. We believe the shares are overvalued. The only way we can see our fair value increasing to its current share price is through a takeover offer for Lynas, or Australia implementing a rare earths price floor. We can’t envisage either of our options happening anytime soon.

SELL – Tabcorp Holdings (TAH)

Shares in this wagering company have risen from 71 cents on August 26 to trade at $1.015 on October 2. The share price rise follows a stronger full year 2025 result released on August 27. Group revenue of $2.614 billion was up 11.8 per cent on the prior corresponding period. Net profit after tax, before significant items, was $49.5 million, an increase of 76.8 per cent. Sustaining revenue and profit growth is a challenge, particularly given the stiff competition in the online wagering market. We would be inclined to take advantage of share price gains and re-allocate the funds to what we consider better value opportunities. Tabcorp’s final 1 cent dividend was unfranked.

Nathan Lodge, Securities Vault

BUY RECOMMENDATIONS

BUY – Impact Minerals (IPT)

This mineral explorer is developing high purity alumina (HPA) via its Lake Hope project in Western Australia. It’s also exploring for nickel, copper, gold and silver across its broader tenement portfolio in New South Wales. Our bullish thesis for IPT rests on several pillars. HPA is a specialty product with growing demand in high-end electronics. If IPT can position itself as a low cost, scalable HPA producer, it could command a premium valuation. The company’s portfolio includes large, underexplored tenement holdings in prospective regions, including Broken Hill. The group posted a consolidated loss after tax of $9.018 million in fiscal year 2025. The company recently received firm commitments to raise $4 million. The shares were trading at less than a cent on October 2. A speculative buy for investors with an appetite for risk.

BUY – Nexus Minerals (NXM)

Nexus Minerals is an appealing speculative play in the Australian junior resources sector, with strong upside potential driven by its exploration pipeline. The company holds a portfolio of gold, copper and critical minerals assets across Western Australia, New South Wales and Victoria. Recent drilling success at the Payns prospect, featuring high grade gold intercepts, has re-invigorated market interest and supports a potential re-rating, particularly as exploration results continue to de-risk the resource base. The addition of a 15,000 square kilometres of greenfield tenure that’s targeting critical minerals in NSW also provides upside exposure beyond the gold sector.

HOLD RECOMMENDATIONS

HOLD – Castile Resources (CST)

Its flagship Rover 1 Project is in the Northern Territory. Rover 1 has the potential to produce gold, copper, cobalt, bismuth and magnetite, positioning the company within the precious metals and critical minerals space. A key strength for Castile is its existing pre-feasibility study at Rover 1, which remains valid under current assumptions. This technical foundation differentiates Castile from many juniors still at greenfield stages. The company’s vision aims to capture value not only from mining, but also from downstream processing, which adds longer term potential. Furthermore, the company maintains a lean balance sheet with minimal debt, providing some resilience in a volatile small market capitalisation resources sector.

HOLD – Javelin Minerals (JAV)

This explorer owns two gold projects in Western Australia’s eastern goldfields. The Coogee project covers 17 square kilometres of tenements and is located close to existing mining infrastructure. Recently, JAV signed a right to mine contract with MEGA Resources. MEGA will fully fund operations at the Eureka Gold project, near Kalgoorlie. Javelin will receive 50 per cent of the profit and $250,000 monthly cash pre-payments from first revenue. The move is part of Javelin’s push towards advancing near term development.

SELL RECOMMENDATIONS

SELL – Trigg Minerals (TMG)

Trigg Minerals is positioning itself as a critical minerals explorer and developer. It has high grade antimony projects in Australia and the United States. TMG is also advancing work on the Tennessee Mountain tungsten project. Its Achillies project in New South Wales is often highlighted as one of the highest grade and undeveloped antimony resources in Australia. Transitioning a high grade deposit to a producing mine involves permits, capital expenditure, environmental approvals, infrastructure and scale-up risks. Any delays, cost over-runs or permit setbacks can strain the valuation. The company’s shares have risen from 7.9 cents on September 10 to trade at 18.5 cents on October 2. Investors may want to consider cashing in some gains after a rapid rise.

SELL – Magnetic Resources NL (MAU)

This gold explorer is focused on developing the Lady Julie Gold project in Laverton, Western Australia. A $35 million placement was recently completed to advance the assets. The company recently announced that all mining leases covering Lady Julie had been granted and approved.  Recent drilling and resource upgrades have generated optimism, but advancing from the resource stage to mine development is capital intensive. The company posted total income of $199,242 in fiscal year 2025. It reported a loss after tax of $14.22 million. In the absence of a buffer against downside, the company relies on external funding, making it vulnerable to shifts in sentiment or tighter capital markets.

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