Finding the best shares to buy on the ASX requires more than just scanning a screener or chasing whatever is up this week. We focus on companies with strong competitive positioning, visible earnings growth, and a catalyst to drive the share price higher over the next 12 months. Every stock on this list has been through a full research process covering financials, industry dynamics, valuation, and management quality.
We update this page regularly as new research is published. The five stocks below represent our most recent work, ordered from newest to oldest. Each summary covers the key points of the investment case, with a link to the full write-up for those who want the detail.
Last updated 5 June 2026.
| Stock | Rating | Price Target | Last Price | Upside | Div Yield |
| Metcash (ASX: MTS) | Buy | A$3.80 | A$3.05 | 24.6% | |
| Supply Network (ASX: SNL) | Buy | A$38.10 | A$30.93 | 23.2% | |
| PWR Holdings (ASX: PWH) | Buy | A$10.40 | A$8.89 | 17.0% | |
| Codan (ASX: CDA) | Buy | A$38.50 | A$43.80 | -12.1% | |
| Collins Food (ASX: CKF) | Buy | A$12.10 | A$8.18 | 47.9% |
Our Top 5 Stocks To Buy Right Now on the ASX
Table of Contents
Worley Ltd (ASX: WOR)
Buy, 12-month price target A$15.50 (27.2% upside), 4.1% forward dividend yield. Price target and upside based on prices at time of publication.
Worley is an Australian-headquartered global engineering and project services firm to the energy, chemicals and resources sectors, with around 50,000 staff across 50 countries. Management used its May 2026 Investor Day to set a medium-term target of double-digit EBITA growth through to FY30, anchored on two strategic shifts. The first is expanding into adjacent complex infrastructure markets like data centres, large-scale power, nuclear and industrial water. The second is capturing more of the project life cycle by moving from engineering-led delivery into procurement and construction.
The wider thesis is supported by a structurally larger addressable market. Cumulative 2026 to 2030 capex across the adjacent infrastructure segments Worley is targeting is 15 to 20 times larger than the existing core, with data centres alone representing approximately US$144 billion per year of global capex against a 20 to 30 per cent compound growth rate. The deeper thesis carries a near-term margin trade-off, but the A$125 million cost-out programme is sized to fully reverse the mix-shift dilution back to a 9.5 per cent group EBITA margin.
The stock trades on 10.2 times next twelve months EV/EBIT, a 21 per cent discount to its 5-year average and 14 per cent below global peers, against a 5-year average premium to peers of 4 per cent. With approximately 27 per cent upside to the institutional price target and a forecast dividend yield stepping from 4.1 per cent in FY26 to 5.1 per cent in FY28, the entry point looks attractive for investors with a multi-year horizon. Read the full article on Worley here.
WEB Travel Group (ASX: WEB)
Buy, 12-month price target A$4.70 (110.8% upside). Price target and upside based on prices at time of publication.
WEB Travel Group operates WebBeds, the world’s second-largest B2B accommodation wholesaler behind Expedia’s B2B segment. The platform connects hotels with travel providers including OTAs, traditional agents, airlines and tour operators. WEB was demerged from Webjet Limited in 2024, separating the B2B wholesale operations from the consumer-facing business (now Webjet Group, ASX: WJL). Market cap of approximately A$813 million with a 30 June fiscal year end.
The hotel bed wholesaling sector is growing at double-digit rates across every major player. WEB posted 17 per cent constant-currency TTV growth in 1H26, HBX is guiding 11 to 17 per cent, and Expedia B2B grew gross bookings 22 per cent in 1Q26. Near-term headwinds from the Middle East conflict and a stronger Australian dollar have compressed estimates by 6 to 18 per cent, but the Middle East represents less than 9 per cent of group TTV and the impact is cyclical rather than structural. Americas share gains continue to come through in results.
At 9 times forward earnings against a 16 times historical average, the market is pricing in a permanent impairment that the numbers do not support. The target of A$4.70 is derived from a blend of FY27 EV/EBITDA fundamental value (85% weight at 9.0x) and theoretical M&A (15% weight at 17.0x). The risk-reward at current levels looks compelling for investors willing to look through the near-term noise. Read the full article on WEB Travel Group here.
Aristocrat Leisure Ltd (ASX: ALL)
Buy, 12-month price target A$61.00 (33.0% upside), ~2.0% forward dividend yield. Price target and upside based on prices at time of publication.
Aristocrat Leisure is the global leader in land-based gaming content and cabinets, with a market share above 40 per cent in key jurisdictions. The company also operates Product Madness (social casino) and a growing real-money iGaming and iLottery segment. Listed on the ASX since 1996 with a September fiscal year end.
We rate Aristocrat a Buy with a 12-month price target of A$61.00, implying 33 per cent upside from current levels. The 1H26 result showed Gaming revenue growing 5 per cent on a normalised basis, with net machine adds tracking to the upper end of management guidance. The Board has lifted the on-market buyback to A$1 billion for FY26 and the interim dividend was increased to 50 cents per share, accelerating capital returns well beyond the prior pace.
On consensus estimates, the forward P/E compresses from 27 times today to roughly 14 times by FY28 as earnings growth catches up. This does not require multiple expansion, just delivery on the existing growth trajectory. For a business with this quality of franchise and capital allocation discipline, 14 times forward earnings represents a meaningful discount to global gaming peers. Read the full article on Aristocrat Leisure here.
Nick Scali Ltd (ASX: NCK)
Buy, 12-month price target A$20.10 (38.9% upside), ~5.0% fully franked forward dividend yield. Price target and upside based on prices at time of publication.
Nick Scali is Australia’s premium furniture retailer, operating more than 60 stores under the Nick Scali brand and approximately 70 under the Plush Sofas banner. The business carries ANZ gross margins above 65 per cent, a level that is structurally above most Australian retail peers and reflects a direct-from-manufacturer sourcing model that bypasses the discount brackets where margins compress. The 1H26 result confirmed the margin advantage is holding even through active promotional periods.
The stock has re-rated significantly from its February 2026 post-result levels, bringing the forward P/E back to approximately 14 times FY27 earnings. At that multiple, with a forward fully franked yield approaching 5 per cent and early traction in the UK expansion visible through 32 per cent like-for-like growth in refurbished UK stores, the risk-reward is materially more attractive than it was at A$24. The dividend is well-supported by A$101 million in FY25 free cash flow. Read the full article on Nick Scali here.
ResMed Inc (ASX: RMD)
Buy, 12-month price target A$46.20 (60.8% upside). Price target and upside based on prices at time of publication.
ResMed is the world’s largest manufacturer of devices and masks used to treat obstructive sleep apnea, the breathing disorder that affects close to a billion people globally. The company is dual-listed on the ASX and NYSE, reports in US dollars on a 30 June fiscal year, and has grown to be the global market leader in sleep apnea devices through the AirSense range of CPAP devices and the AirFit and AirTouch mask families.
The 3Q26 result showed that top-line growth continues to compound through the GLP-1 overhang that had dominated the narrative through 2024 and 2025. Gross margins are stepping up around 600 basis points to FY28 as input cost normalisation, manufacturing footprint optimisation and a richer mask mix flow through to the P&L. The structural growth story remains intact, with an undertreated patient pool in the hundreds of millions and a software-as-a-service business that helps durable medical equipment providers manage patient compliance and reimbursement.
The stock trades below the medtech peer mean despite holding the number one global share position in obstructive sleep apnea devices. At a price target of A$46.20, the implied upside is approximately 60 per cent from current levels, anchored by an earnings growth profile that should re-rate the multiple as the GLP-1 overhang fades. Read the full article on ResMed here.
How We Pick Stocks for This List
Our selection process draws on institutional-grade research combined with our own analysis of each company’s competitive positioning, earnings trajectory, and valuation. We focus on ASX-listed businesses with clear catalysts, strong or improving returns on capital, and management teams with a track record of execution. Every stock on this list carries a Buy rating with a defined price target and investment thesis.
We are not trying to pick the next speculative runner. The companies featured here are profitable, have established market positions, and offer a risk-reward profile that we think makes sense for investors looking to build long-term wealth through Australian equities. We refresh this list as new research is completed, typically every few weeks.
If you would like to discuss any of these names or how they might fit within your portfolio, request a callback or call us on 1300 889 603.
