Buy, hold, sell: CSL, Lynas, and Wesfarmers shares

There are a lot of ASX shares for investors to choose from on the Australian share market.

To narrow things down, let's see what analysts at Bell Potter are saying about the three popular shares listed below, courtesy of The Bull. Here's what you need to know:

CSL Ltd (ASX: CSL)

Despite trading on lower than normal multiples and having an attractive longer term product pipeline, the team at Bell Potter still only rates CSL shares as a hold this week. Following the biotech giant's half-year results, the broker said:

 This plasma and vaccines giant reported revenue of $US8.3 billion in the first half of 2026, down 4 per cent on the prior corresponding period. Underlying net profit after tax and amortisation (NPATA) of $US1.9 billion, excluding restructuring costs and impairments, was down 7 per cent. The company has maintained full year guidance, with revenue forecast to increase between 2 per cent and 3 per cent and NPATA between 4 per cent and 7 per cent at constant currency. CSL trades below its historical price/earnings ratio and peers. Longer term product pipelines remain attractive.

Lynas Rare Earths Ltd (ASX: LYC)

Bell Potter has named this ASX rare earths stock as a sell this week. It believes the company's shares are expensive (and volatile). And with execution risks remaining elevated, the broker thinks investors should keep their powder dry for the time being. It said:

While Lynas boasts strategic positioning in rare earths amid a positive long term theme, execution risks, in our view, remain elevated. The consensus among market watchers is for significant volatility ahead. Operational challenges, including power supply disruptions at the Kalgoorlie processing plant and geopolitical uncertainty, add further complexity. The share price has been volatile. It rose from $6.89 on February 12, 2025 to $21.64 on October 15. LYC was trading at $15.92 on February 12, 2026. There's no dividend yield.

Wesfarmers Ltd (ASX: WES)

Finally, Bell Potter has put a hold rating on Wesfarmers shares ahead of its half-year results.

The broker sees potential for a strong result to be a positive catalyst for its shares, but with a stretched valuation, it thinks investors should be waiting for a better entry point. It said:

The industrial conglomerate's interim results for fiscal year 2026 are scheduled to be released on February 19. The results could serve as a positive catalyst, with growth most likely led by Bunnings and Kmart Group. Wesfarmers posted statutory net profit after tax of $2.926 billion in full year 2025, an increase of 14.4 per cent on the prior corresponding period.

While its valuation remains stretched, operating momentum and productivity investments in digital and supply chain capabilities support earnings resilience. Capital management initiatives — such as a payout of $3.56 a share that includes special distributions — further enhances total return. The current valuation leaves a hold recommendation.

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

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Wesfarmers. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Lynas Rare Earths Ltd. The Motley Fool Australia has recommended CSL and Wesfarmers. 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