UPDATE: Amcor has just been upgraded to a buy rating, while National Australia Bank faces a sell rating after disappointing earnings. This news is critical for investors looking to navigate the ASX 200 shares amidst shifting market conditions.
Morgans, a leading financial services firm, has announced these pivotal changes following the recent quarterly updates. Amcor (ASX: AMC) reported a solid performance for 1Q26, aligning with expectations despite a challenging volume environment. The company’s management has reaffirmed its FY26 underlying EPS guidance of US$80-83cps, contributing to Morgans’ decision to raise its price target to $15.20.
Morgans emphasized the positive outlook, stating,
“With a 12-month forecast total shareholder return of 25%, we upgrade our rating to BUY.”
The company’s valuation is currently attractive, trading at 10.4x FY26F PE with a 6.1% yield. This upgrade signals potential positive catalysts such as upcoming quarterly results and successful asset sales.
In stark contrast, National Australia Bank (ASX: NAB) has been dealt a harsh blow. Morgans did not hold back in criticizing NAB’s full-year results, noting that 2H25 earnings fell short of expectations, leading to a sell rating and a price target of $31.46. The report highlighted that while NAB is experiencing loan growth, its earnings outlook is dim due to rising costs and deteriorating asset quality. Morgans stated,
“The 2H25 result does not justify current pricing. SELL retained at current prices.”
Meanwhile, Woodside Energy Group (ASX: WDS) remains a strong buy according to Morgans. The firm reaffirmed its buy rating and $30.50 price target, citing best-in-class execution on projects like Scarborough and Sangomar. The growth forecast for the company remains robust, with net operating cash flow projected at US$9 billion by 2032, signaling a promising future for investors.
As the markets react to these developments, investors are urged to assess their portfolios carefully. The contrasting fortunes of Amcor, NAB, and Woodside present unique opportunities and challenges in the current economic climate. Keep an eye on upcoming earnings reports and market trends that could further influence these ratings.
Stay tuned for further updates as this story develops.
