Buy, hold, sell: BHP, CSL, and Westpac shares

BHP Group Ltd (ASX: BHP), CSL Ltd (ASX: CSL), and Westpac Banking Corp (ASX: WBC) are three of the biggest names on the Australian share market.

They also give investors exposure to very different parts of the economy, spanning resources, healthcare, and banking.

But if I were looking at these ASX shares today, I would not treat all three the same.

Here is how I see each one.

BHP shares

BHP would be firmly in the buy category for me.

The mining giant gives investors exposure to some of the commodities I think could remain important for decades, particularly iron ore and copper.

Iron ore remains central to BHP's earnings, while copper could become an increasingly important part of the story as investment in electrification, power networks, renewable energy, and data centres supports demand.

I also like BHP's scale. Mining is inherently cyclical, and commodity prices can move sharply, but large, low-cost operations can leave a business in a stronger position when conditions become more difficult.

There will inevitably be periods when weaker commodity prices put pressure on earnings and dividends. That comes with investing in resources.

But for investors prepared to look through those cycles, I think BHP remains one of the ASX mining shares I would be most comfortable owning for the long term. For me, that makes BHP shares a buy.

CSL shares

CSL is another share I would be happy to buy.

The healthcare giant has been through a difficult period, with investors becoming much less enthusiastic about the stock than they were several years ago.

For me, that creates an opportunity. CSL still owns high-quality healthcare businesses with significant global operations. Its plasma therapies business remains the centrepiece, while vaccines and other specialised treatments add further diversification.

What I like here is the potential for earnings growth to improve as the company continues rebuilding margins and growing demand across its major businesses.

CSL also operates in areas where barriers to entry are high. Plasma collection networks, manufacturing expertise, regulatory approvals, and established healthcare relationships are difficult to replicate.

The recovery may still take time, and investors will want to see continued evidence that margins and profit growth are moving in the right direction.

Even so, I think the long-term opportunity looks attractive after the weakness in the share price. That leaves CSL shares as a buy for me.

Westpac shares

Westpac is where I become more cautious. It remains one of Australia's major banks and has a huge customer base across mortgages, deposits, and other financial services.

That gives the business plenty of stability, and I can understand why existing shareholders may be happy to continue holding it, particularly those focused on dividends.

My hesitation is around how much growth investors can reasonably expect from a mature Australian bank.

Westpac has substantial exposure to residential lending, where competition can be intense and growth depends heavily on the Australian housing and consumer markets. And with the housing market going through a weak period, Westpac's growth looks challenged to me.

For existing shareholders, I see no strong reason to sell. But if I were investing new money today, I would look for other opportunities.

That makes Westpac shares a hold for me.

Foolish takeaway

BHP and CSL are the two ASX shares here where I would be most comfortable putting new money to work.

They offer very different investment cases, but both have long-term growth drivers that I think can reward patient investors.

Westpac remains a solid business, and I would be comfortable continuing to own it. At current levels, though, I would rather hold than add.

The post Buy, hold, sell: BHP, CSL, and Westpac shares appeared first on The Motley Fool Australia.

Motley Fool contributor Grace Alvino has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended BHP Group and CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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. 2026