I think it is fair to say that we all love to see our portfolio generating big returns. But which ASX 200 shares could help you achieve this over the next 12 months?
Well, read on because the three shares listed below have been named as buys by analysts and tipped to rise 20% to 50% between now and this time next year.
Here's what you need to know about these shares:
Last week, Goldman Sachs urged investors to load up on this beaten-down ASX 200 share while its shares are cheap. Commenting on the language testing and student placement company, the broker said:
With valuation near all-time lows (25x P/E vs 45x historically), and share px -17% in the last month, we would argue the market has priced these cuts already given VA Consensus is relatively flat. We are nearing the base for FY25E earnings and are now capitalising what we see as trough earnings/growth at a historically low multiple. IEL's structural growth outlook and business quality remain unchanged in our view.
Goldman reiterated its buy rating with a trimmed price target of $25.30. This implies a potential upside of approximately 54% for investors over the next 12 months.
Bell Potter believes that big returns could be on offer from this rapidly growing location technology company's shares following recent weakness in the tech sector.
Particularly after upgrading its estimates to reflect a very strong trading update this month. Commenting on the update, the broker said:
We have upgraded our revenue forecasts in 2024, 2025 and 2026 by 1%, 3% and 5% on the back of increases in our subscription revenue forecasts – driven by increases in our paying circles forecasts – and also our advertising forecasts. We now forecast 2024 revenue of US$370m which is in the middle of the US$365-375m guidance range.
Bell Potter has a buy rating and a $16.25 price target on the ASX 200 share. This suggests a potential upside of ~27% for investors.
The team at Morgans thinks that this retail conglomerate could be an ASX 200 share to buy.
The broker believes the company is outperforming its rivals thanks partly to its strong brands (BCF, Supercheap Auto, Rebel, and Macpac) and loyalty program. It said:
In our opinion, the business is outperforming the competition across most of its retail operations as it leverages its brand equity, strong omnichannel credentials, well subscribed loyalty programmes and extensive network of stores.
Morgans has an add rating and a $17.50 price target on Super Retail's shares. This implies a potential upside of 20% for investors. It also expects a generous 6%+ dividend yield in FY 2024.