18 Share Tips – 9th 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 Mark Elzayed of Investor Pulse, Elio D’Amato of EnviroInvest 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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Mark Elzayed, Investor Pulse

BUY RECOMMENDATIONS

BUY – Macmahon Holdings (MAH)

MAH provides mining and engineering services. Against a backdrop of volatile commodity markets and persistent anxiety about capital over-runs, Macmahon distinguishes itself through operational discipline. Revenue of $1.3 billion in the first half of fiscal year 2026 was up 11 per cent on the prior corresponding period. What stood out for us was the return on average capital employed of 21.2 per cent. Capital efficiency signals a business managing cost pressures and project execution more effectively than many peers. Add in a $25.6 billion tender pipeline reveals rare forward visibility in a sector often defined by short cycles and uneven order flow. Importantly, that pipeline reflects active, high probability opportunities rather than aspirational targets. Balance sheet management further reinforces the investment case.

BUY – Aussie Broadband (ABB)

This telecommunications company continues to build a credible long term growth case as it pushes further into scale and diversification. First half group revenue of $637.8 million in fiscal year 2026 was up 8.4 per cent compared to the prior corresponding period. Underlying EBITDA of $74.7 million grew 13.5 per cent. We’re impressed with the operational leverage beginning to emerge. ABB recently acquired AGL Energy’s, telecommunications business, adding an estimated 350,000 broadband services and mobile connections to ABB’s customer base. It recently entered into a binding agreement to acquire 100 per cent of Nexgen Investment Group, a provider of advanced business communication solutions. The deals strengthen ABB’s small-to-medium sized enterprise business offering. 

HOLD RECOMMENDATIONS

HOLD – Genesis Minerals (GMD)

Despite the recent volatility across the global software sector, we remain positive about this accounting software provider. What keeps us confident is the company’s evolution from a traditional system of record into a higher margin system of action, embedding itself deeper into customer daily workflows. The integration of Melio, a business-to-business payments platform, represents a material step forward in the US, with management targeting EBITDA breakeven by the second half of fiscal year 2028.  The global rollout of JAX, its artificial intelligence financial agent, alongside the expanded Expensify partnership strengthens Xero’s position in spending management and automation. 

HOLD – Wesfarmers (WES)

Despite the recent market turbulence, we continue to hold this industrial conglomerate, reflecting group resilience amid consistency among its core retail divisions. The recent first half result for fiscal year 2026  reinforced our view, with statutory net profit after tax of $1.603 billion up 9.3 per cent on the prior corresponding period. Bunnings and Kmart Group sustained sales momentum by leaning into their low price positioning at a time when household budgets remain under pressure. Wesfarmers chemicals, energy and fertiliser division has also become a more meaningful contributor, helped by firmer lithium prices and the ramp up of the Covalent Lithium refinery, which is now producing battery grade lithium hydroxide.

SELL RECOMMENDATIONS

SELL – Harvey Norman Holdings (HVN)

Much of the operational recovery now appears reflected in the retail giant’s share price. Fiscal year 2025  results and early fiscal year 2026 trading updates confirmed solid aggregated sales growth, aided by an improving UK performance and continuing strength in Europe. Yet after a material re-rating over the past year, we see limited room for positive surprises. Competition in the consumer electronics category is intense. While the dividend yield remains appealing, consumer discretionary sector headwinds leave valuation multiples looking extended, in our view.

SELL – Washington H. Soul Pattinson and Company (SOL)

SOL is a diversified investment house. It invests across a range of industries and asset classes, including listed equities. SOL has long earned its place in Australian portfolios because of its enviable dividend record and conservative stewardship. Even so, we see grounds for a tactical exit. The valuation has moved to a premium relative to underlying asset momentum, with the price-to-earnings ratio sitting well above its longer term average. Recent reporting points to moderation across the core holdings of New Hope Corporation, TPG Telecom and Brickworks. Softer global coal prices are tempering the exceptional cash generation previously delivered by New Hope, while TPG continues to navigate an intensely competitive telecommunications landscape. Absent a meaningful acquisition to reignite growth, the fading post-merger enthusiasm around the Brickworks restructuring could leave the shares marking time.

Elio D’Amato, EnviroInvest

BUY RECOMMENDATIONS

BUY – NextDC (NXT)

NextDC develops and operates data centres across Australia. Net revenue of $189.2 million in the first half of fiscal year 2026 rose 13 per cent on the prior corresponding period. Underlying EBITDA of $9.9 million was up 9 per cent. NXT sources renewable energy for its facilities and designs highly efficient cooling systems, reducing carbon intensity per megawatt. Digital infrastructure is energy intensive, but efficient operators are poised  to benefit. Structural demand and execution momentum, in our view, support further upside. 

BUY – Worley (WOR)

Worley provides engineering and project services across energy, chemicals and resources. Aggregated revenue of $6.3 billion in the first half of fiscal year 2026 was up 5.4 per cent on the prior corresponding period. Underlying earnings before interest, tax and amortisation of $377 million was up 0.3 per cent. More than half of new awards were linked to sustainability and energy transition work. Legacy hydrocarbons exposure remains, but capital is increasingly directed to low carbon infrastructure. With strong backlog 

HOLD RECOMMENDATIONS

HOLD – Australian Ethical Investment (AEF)

AEF is a pure play ethical funds manager, with sustainability embedded in its investment mandate. Funds under management (FUM) reached $14.08 billion at December 31, 2025, up 6.2 per cent on the prior corresponding period. Revenue remains tied to FUM growth amid scale and cost discipline stabilising margins after integration expenses. The environmental thesis is core — capital allocation decisions are explicitly screened for climate, biodiversity and social impact outcomes. However, earnings remain market sensitive. Inflows grew over the period, but in our opinion, the company’s valuation reflects its brand strength.

HOLD – Hazer Group (HZR)

Hazer is commercialising technology that produces low emissions hydrogen and graphite using natural gas or biogas, with iron ore as a catalyst. For the six months ending December 31, 2025, the company’s funding position of $17.2 million, included $14.8 million in cash and $2.4 million in grant funds. A 27 per cent reduction in operating costs reflected a leaner structure. The KBR alliance secured its first joint project, and the process design package nears completion. Commercial traction is building, but revenue scale remains early stage.

SELL RECOMMENDATIONS

SELL – Whitehaven Coal (WHC)

Revenue of $2.5 billion in the first half of fiscal year 2026 was down from $3.4 billion in the prior corresponding period, reflecting a fall in average realised prices. Underlying EBITDA of $446 million was down from $960 million. The company reported an underlying net loss after tax of $19 million, despite moderately lower costs of $135 a tonne compared to the prior corresponding period. While markets may tighten cyclically, global decarbonisation targets and a capital flight from thermal coal remain structural risks. In my view, earnings are leveraged to a commodity facing long term demand erosion.

SELL – Li-S Energy (LIS)

Li-S Energy continues progressing its lithium-sulphur battery technology, securing a $7.8 million grant  under the Australian Renewable Energy Agency’s (ARENA) program to support phase 4 feasibility and scale-up studies. The company commissioned Australia’s first lithium metal foil line and is targeting future capacity of up to 1 GWh per year. However, at December 31, 2025 cash stood at $17.4 million, which I believe will only fund development for between one and two years. Commercial revenues remain early stage, with further capital likely required for manufacturing scale-up, in my view. Promising technology, but execution and funding risk remain high.

John Athanasiou, Red Leaf Securities

BUY RECOMMENDATIONS

BUY – WiseTech Global (WTC)

WTC develops and provides software solutions to the global logistics industry. Artificial intelligence (AI) continues to be embedded across its software, which is likely to cut 2000 jobs in fiscal years 2026 and 2027. AI enhances productivity across CargoWise logistics datasets and global integrations. First half revenue in fiscal year 2026 exceeded expectations. Synergies from e2open were delivered 18 months early and customer retention remains about 99 per cent. With dominant network effects across more than 190 countries, improving cost discipline and scalable growth opportunities, WiseTech offers a structurally de-risked path to margin expansion.

BUY – Xero (XRO)

This accounting software provider has been sold off, but fundamentals remain strong. Its capital light, subscription based model provides recurring revenue, pricing power and operating leverage. Subscriber growth in Australia, New Zealand and the UK is resilient amid expanding margins through improving cost discipline. The US market remains under-penetrated, offering options over the long term. Artificial intelligence is likely to enhance Xero’s product suite, improving workflow automation and stickiness rather than disrupting revenue. Recently trading below prior multiples, the risk/reward is attractive for long term investors. This is a profitable, global software platform with scale, and current weakness presents an accumulation opportunity for those looking beyond short term sentiment.

HOLD RECOMMENDATIONS

HOLD – Commonwealth Bank of Australia (CBA)

CBA remains the highest quality bank, supported by scale, technology leadership and a dominant retail franchise. Credit quality is stable, arrears are contained and capital levels are strong. Recent half year results in fiscal year 2026 beat expectations, which the market welcomed. However, much of this quality is already reflected in its premium valuation. With loan growth moderating and net interest margins normalising, earnings growth is likely to be steady as opposed to spectacular. The dividend supports total returns, making it a reliable core holding. Upside is limited at current prices. However, existing investors should maintain exposure, while new capital may find better growth or valuation opportunities elsewhere.

HOLD – Goodman Group (GMG)

Goodman Group offers high quality exposure to industrial property and data infrastructure globally. Structural tailwinds from e-commerce logistics and data centres support long term growth, while development margins remain robust. The capital management platform provides recurring earnings visibility. However, after a share price recovery, the valuation was recently stretched relative to near term earnings, and higher interest rates and construction costs temper development returns. The long term growth story is intact, but short term catalysts are limited, in our view. Existing investors can consider holding for now, while new entrants may wait for a more attractive entry point.

SELL RECOMMENDATIONS

SELL – Suncorp Group (SUN)

Suncorp provides insurance products and services. While premium rate increases have helped, we believe margin expansion is peaking. Earnings are exposed to claims inflation, natural catastrophe volatility and regulatory scrutiny. Half year results to December 31, 2025 highlighted these risks. Profit after tax of $263 million was down from $1.1 billion in the prior corresponding period. Cash earnings were hit by higher natural hazard costs and the interim dividend was reduced. Much of the recent improvement reflects cyclical conditions rather than structural change. In our view, the valuation is vulnerable given competitive pricing pressure and rising affordability concerns. 

SELL – Guzman Y Gomez (GYG)

GYG is a Mexican themed restaurant chain. We retain a sell rating despite Australian brand strength. Expansion in the United States is in its early stages and carries execution risk. Challenges include increasing labour costs, operating costs and competition. Revenue and profit growth were overshadowed by share price weakness after the company released its first half result in fiscal year 2026 on February 20. In our view, investors are paying a premium for ambitious long term store targets. In a higher cost-of-capital environment, the valuation leaves little margin for error.

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.