Attention S&P/ASX 200 Index (ASX: XJO) investors: These three stocks could be worth checking out right now. Theyâve each caught the eye of brokers, who have tipped them as buys. Letâs take a squiz at the trio of potential winners.
3 ASX 200 stocks upgraded to ‘buy‘ ratings
First out of the gate is the Aussie bourseâs biggest participant.
Morgans believes stock in $221 billion iron ore miner BHP Group Ltd (ASX: BHP) could have a bright future, slapping the company with an add rating, my Fool colleague James reports.
It comes on the back of the companyâs update on the March quarter, wherein its production came in lower than consensus expectations. Though, its full-year guidance remained largely unchanged.
The broker has a $50.40 price target on the BHP share price â a potential 15% upside.
Stock in accounting platform provider Xero Limited (ASX: XRO) has also been the target of a broker upgrade today.
UBS has raised its rating to a buy and slapped it with an improved $109 price target. That represents a potential 17% upside.
The broker is said to have big expectations for the companyâs free cash flow and growth.
The final share making the list is also the smallest, with a market capitalisation of just $1.7 billion.
Stock in ASX 200 infection prevention company Nanosonics Ltd (ASX: NAN) could be worth looking at, according to William OâNeil. The broker rates the share a new buy, the Australian Financial Review reports.
The Nanosonics share price has been on a roll lately, rising 30% so far this year. That was likely helped by the 167% jump in net profit after tax (NPAT) the company posted for the first half of financial year 2023, coming in at $10.4 million.
The post 3 ASX 200 stocks brokers just upgraded to âbuyâ appeared first on The Motley Fool Australia.
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More reading
- Top brokers name 3 ASX shares to buy today
- Down 8% in a week, is the BHP share price facing more headwinds in 2023?
- Investing in ASX 200 mining stocks? Here’s Citi’s latest iron ore price forecast
- Pro Medicus shares: Bull vs. Bear
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nanosonics and Xero. The Motley Fool Australia has positions in and has recommended Nanosonics and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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