Buy, hold, sell: Develop Global, Metcash, and Treasury Wine shares

There are so many ASX shares to choose from it can be hard to decide which ones to buy over others.

To narrow things down, let's take a look at three popular shares and see if analysts think they are buys, holds, or sells. Here's what they are saying:

Develop Global Ltd (ASX: DVP)

The team at Bell Potter is positive on this mining and mining services company. In response to news of an underground mining contract from OceanaGold, the broker has retained its buy rating with an improved price target of $5.20.

The broker also likes the company due to its Woodlawn project, which it believes could drive a re-rating of its shares. It said:

DVP enters an important phase of its Woodlawn commercialisation journey with commissioning to be completed in the March 2026 quarter. We expect demonstration of earnings and FCF expansion from Woodlawn to drive a re-rate for DVP; spot copper, zinc and silver prices are currently ahead of our FY26 forecasts, presenting upside to valuation and earnings expectations the longer they remain ahead of forecasts. Near-term catalysts include Sulphur Springs financing completion and processing plant construction commencement and further external DMS contract wins.

Metcash Ltd (ASX: MTS)

This wholesale distributor recently released its half year result for FY 2026. While Ord Minnett wasn't overly impressed with the performance of its hardware and liquor divisions, it remains positive on valuation grounds. It has a buy rating and $4.00 price target on the company's shares. The broker said:

Metcash posted first-half FY26 earnings short of market expectations, driven partly by the earlier recognition of restructuring costs than consensus had forecast. The key food business met forecasts, but the hardware and liquor divisions fell short of expectations. […] Post the result, we have cut our EPS estimates by 8.0%, 9.2% and 8.3% for FY26, FY27 and FY28, respectively, primarily due to the challenges facing the liquor and hardware operations. This leads us to cut our target price on Metcash to $4.00 from $4.60, but we maintain our Buy recommendation on valuation grounds.

Treasury Wine Estates Ltd (ASX: TWE)

A recent update from this wine giant disappointed analysts at Morgans. Although the broker was expecting a bad update, it was even weaker than feared.

Given its poor performance in the US, its weakening balance sheet, and high level of earnings uncertainty, the broker rates it as a hold with a $5.25 price target. It said:

As we feared, but even weaker than expected, TWE's trading update meant that consensus estimates were far too high. Its US performance was particularly disappointing given of all the capital spent in recent years. Gearing is now well above TWE's target range and will remain high for the next couple of years. While we made large downgrades to our forecasts only two weeks ago following the goodwill write-down, TWE's new trading update has seen us make another round of material revisions. We stress that earnings uncertainty remains high. It will take time for new management to deliver more acceptable returns and for TWE to rebuild credibility with the market. We maintain a HOLD rating.

The post Buy, hold, sell: Develop Global, Metcash, and Treasury Wine shares appeared first on The Motley Fool Australia.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2025