Can these red hot ASX 200 stocks keep rising?

While earnings season always brings volatility, the S&P/ASX 200 Index (ASX: XJO) is actually 1.6% higher than a month ago. 

This means there are plenty of ASX 200 shares that came out the other side well ahead of expectations. 

Three such companies that are enjoying a bull run are:

• Woolworths Group Ltd (ASX: WOW)
• Northern Star Resources Ltd (ASX: NST)
• Woodside Energy Group Ltd (ASX: WDS)

These ASX 200 giants now sit close to 52-week highs. 

Holders of these stocks might be considering taking profits, while prospective buyers might be concerned they missed their opportunity. 

Here is what experts are saying about these ASX 200 stocks in March. 

Woolworths continues massive recovery

Late last year, Woolworths shares were trading below $26 per share. 

Yesterday, the supermarket giant closed at $36.90. 

That’s good for a recovery of 42% in less than 6 months. 

Woolworths shares got a massive boost last month after the company released its half-year financial report.

The ASX 200 company has seen its share price rise 17% since that release. 

Recent guidance from brokers indicates Woolworths shares are now trading close to fair value. 

A note from Bell Potter following earnings results included an updated price target of $38.25. 

That’s roughly 3.6% higher than yesterday’s closing price, although the recently upgraded dividend may entice some investors. 

Gold still the standard

Northern Star Resources shares have continued to ride the wave of investor confidence in gold.

Gold shares have continued to climb as a safe-haven asset amid global geopolitical uncertainty. 

The materials sector in general was an earnings season winner. 

Northern Star Resources shares are now up 75% in the last 12 months, even with a small dip yesterday. 

The ASX 200 stock closed trading yesterday at $30.71. 

A recent share price target from Bell Potter indicates the share price could reach $35 in the next year, which would be a further 13% climb. 

Woodside hits multi-year highs

Woodside Energy shares closed yesterday at $30.48, which is yet another fresh multi-year high.

Sentiment amongst some experts indicates this could continue as oil prices have spiked to a 4-year high amidst escalating conflict between the United States, Israel, and Iran.

However, target prices from brokers vary significantly.

RBC recently retained its buy rating on Woodside shares with a 12-month price target of $31.50.

Citi has a hold stance with a target of $28, and Ord Minnett has a sell rating on Woodside shares with a price target of $24.

The post Can these red hot ASX 200 stocks keep rising? appeared first on The Motley Fool Australia.

More reading

• Want to receive the BHP, Rio Tinto, and Woodside dividends? Here’s what you need to do
• 5 things to watch on the ASX 200 on Wednesday
• Here’s why the Woodside share price surged 12% in February
• 3 ASX 200 energy shares just given new 12-month price targets post-results
• Here’s how Woolworths shares smashed Coles shares in February

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Woolworths Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.