Three S&P/ASX 200 Index (ASX: XJO) stocks just had their outlooks boosted by top brokers.
One is a property developer.
One is leading the technology charge in the logistics space.
And the third is focused on mortgage lending insurance.
And if the brokers have this right, all three ASX 200 stocks could deliver some healthy returns in the year ahead.
(Broker data courtesy of The Australian.)
Three ASX 200 stocks with boosted outlooks
The first ASX 200 stock getting a sizeable broker upgrade is WiseTech Global Ltd (ASX: WTC).
Shares in the logistics software provider are up 0.3% at the time of writing to $92.75. That sees the WiseTech share price up 21% in 2024. The stock also trades on a slender, fully franked trailing dividend yield of 0.2%.
CLSA forecasts a lot more outperformance to come. The broker raised WiseTech shares to a buy rating with a $112.00 price target. That’s almost 21% above current levels.
The WiseTech share price could catch some tailwinds next week when the stock joins the exclusive S&P/ASX 50 Index. That move is part of the S&P Dow Jones Indices June quarterly rebalance.
Which brings us to the second ASX 200 stock earning a broker upgrade, property investor, developer and manager Dexus (ASX: DXS).
The Dexus share price is down 0.9%% at time of writing at $6.48 a share. That sees the share price down 15% in 2024. Dexus shares trade on a partly franked trailing dividend yield of 7.7%.
Jarden Securities believes shares are trading at a bargain. The broker raised Dexus to a neutral rating with a $7.60 price target. That’s more than 17% above current levels.
Rounding off the list of ASX 200 stocks earning broker upgrades is Lenders Mortgage Insurance provider Helia Group Ltd (ASX: HLI).
The Helia share price is rocketing 12.6% in morning trade today. Shares are currently swapping hands for $3.76 apiece. That leaves the Helia share price down 15% in 2024. The stock trades on a partly franked trailing dividend yield of 7.9%.
If you were watching the charts yesterday, you may have noticed that the Helia share price ended the day down a precipitous 20.9%, at $3.34 a share. The stock crashed after the company announced Commonwealth Bank of Australia (ASX: CBA) plans to review the lender’s mortgage insurance (LMI) contract it has with Helia.
Macquarie believes today’s rebound has further to run. The broker raised the ASX 200 stock to an outperform rating with a $3.90 price target.
The post Why these 3 ASX 200 stocks just scored sizeable broker upgrades appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
See The 5 Stocks
*Returns as of 5 May 2024
More reading
- 5 things to watch on the ASX 200 on Thursday
- Why Beach Energy, Core Lithium, Helia, and Red 5 shares are dropping today
- ASX 200 stock plunges 15% on CBA deal news
- These four ASX All Ords shares just earned hefty broker upgrades. Here’s why
- Why these 2 ASX 200 shares just scored broker upgrades
Motley Fool contributor Bernd Struben 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 Macquarie Group and WiseTech Global. The Motley Fool Australia has positions in and has recommended Macquarie Group and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Leave a Reply