These ASX 200 shares could rise 20% to 40%

Are you wanting to supercharge your portfolio returns in 2026?

If you do, then it could be worth checking out the ASX 200 shares named below.

That’s because analysts have put buy ratings on them and are tipping potential upside of at least 30% over the next 12 months.

Here’s what they are recommending:

Flight Centre Travel Group Ltd (ASX: FLT)

The team at Morgans sees a lot of value in this travel agent giant’s shares. Particularly following the announcement of the acquisition of UK based online cruise agency Iglu.

It highlights that Iglu operates in a high growth and high margin segment of the travel industry. This bodes well for Flight Centre’s future growth. It said:

In our view, Iglu is a strategically sound acquisition for FLT’s Leisure business unit, given the cruise sector is a high growth and high margin segment within the travel industry. The acquisition multiple was reasonable for an online business and, importantly, is immediately EPS accretive.

FLT’s strong balance sheet can comfortably fund this acquisition and its capital management strategy. We have upgraded our forecasts to reflect the acquisition of Iglu. Despite recent share price appreciation, FLT’s fundamentals remain attractive and we retain a Buy recommendation with a new A$18.38 price target.

Morgans has a buy rating and $18.38 price target, which suggests that upside of 20% is possible from current levels.

WiseTech Global Ltd (ASX: WTC)

Bell Potter thinks that this beaten down ASX 200 tech share could be destined for a big rebound in 2026.

Especially with the broker expecting a significantly improved performance in the second half of FY 2026. It said:

WiseTech has also had a large pullback in its share price but this has been more driven by company specific issues like slowing growth in the core business, management and board upheaval and insider trading allegations against CEO and founder Richard White. These issues, however, are starting to subside and focus is returning to the outlook for the core business which is improving with the launch of new products, a new commercial model and the integration of a large acquisition (e2open).

These initiatives are all expected to help drive a much stronger 2HFY26 result relative to 1HFY26 and then the first full year of benefits will be evident in FY27. All of these changes/initiatives are not without risk and there is still some risk of a soft downgrade to revenue guidance in FY26 at the half year result but the 12-month outlook is positive in our view.

Bell Potter has a buy rating and $100.00 price target on its shares. This implies potential upside of 43% for investors over the next 12 months.

The post These ASX 200 shares could rise 20% to 40% appeared first on The Motley Fool Australia.

More reading

• 5 amazing ASX 200 shares I want Santa to bring me for Christmas
• Is WiseTech a buy, sell or hold in 2026?
• I think these ASX blue chips shares are primed for a major rebound in 2026
• 2 ASX 200 shares with massive upside potential according to brokers
• $5,000 to spare? I’d buy these 5 ASX 200 shares before the end of 2025

Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.