$5,000 to invest but unsure which ASX 200 shares to buy?
Well, the three shares in this article could be looking cheap after significant pullbacks.
Here’s what you need to know about them:
Collins Foods Ltd (ASX: CKF)
The first ASX 200 share to look at is Collins Foods.
The KFC restaurant operator’s shares are down approximately 20% this year, which has left it looking much cheaper than it did not long ago.
Collins Foods is not the kind of business that grabs attention like a high-growth technology stock. It operates in quick-service restaurants, where convenience, brand strength, and repeat customer behaviour are important.
Its core KFC operations give it exposure to one of the most recognised food brands in the world. That can be valuable during tougher economic periods, when consumers may still want affordable takeaway options but become more selective about bigger discretionary purchases.
Bell Potter is bullish on Collins Foods and has a buy rating and $10.80 price target on it.
Lovisa Holdings Ltd (ASX: LOV)
Another ASX 200 share that looks cheap after a selloff is Lovisa.
Its shares are down approximately 37% over the past 12 months, which is a sharp fall for a company that has delivered extraordinary growth over the long term.
Lovisa’s story is not just about selling affordable jewellery. It is about a retail model that can be rolled out across many countries with relatively small-format stores, fast product rotation, and a brand that appeals to fashion-conscious shoppers.
That gives the company a very different growth profile from many local retailers. Its opportunity is global, and management has already shown it can open stores across multiple regions.
Morgans thinks the company has a bright future. It recently put a buy rating and $32.50 price target on its shares.
ResMed Inc. (ASX: RMD)
A third ASX 200 share to consider is ResMed.
The sleep treatment company’s shares are down almost 30% over the past 12 months, which is a notable pullback for a global healthcare leader.
ResMed’s products sit in an area of healthcare that is still underpenetrated. Sleep apnoea remains widely undiagnosed, despite its links to fatigue, cardiovascular risk, and broader health outcomes.
That gives the company a long-term demand driver that is not tied to the economic cycle in the same way as retail or housing. People may delay some purchases when money is tight, but healthcare needs do not disappear.
Ord Minnett is a big fan of the company. Last week, it put a buy rating and $38.35 price target on its shares
The post 3 cheap ASX 200 shares to buy with $5,000 appeared first on The Motley Fool Australia.
Should you invest $1,000 in Collins Foods right now?
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* Returns as of 20 Feb 2026
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- How to invest in ASX shares when you don’t know what to buy
- Where to invest $2,000 in ASX 200 shares in June
Motley Fool contributor James Mickleboro has positions in Collins Foods, Lovisa, and ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Collins Foods and Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.