S&P/ASX 200 Index (ASX: XJO) shares are down 0.66% to 8,629.1 points on Friday.
Brokers have indicated continuing confidence in several ASX 200 shares this week.
Let’s take a look.
BHP Group Ltd (ASX: BHP)
The BHP Group share price is $61.52, down 2% today.
BHP shares hit a new record price of $65.04 on Wednesday.
On Thursday, BHP and other ASX 200 iron ore mining shares fell heavily on news of ramped-up production at Simandou.
The Simandou iron ore project in Africa is the world’s largest untapped, high-grade iron ore deposit.
Morgan Stanley reiterated its buy rating on BHP shares on Monday.
The broker has a price target of $67.50, suggesting almost 10% upside remains.
Megaport Ltd (ASX: MP1)
Megaport shares are flying on Friday, up 9.6% to $18.18 apiece.
The Megaport share price is the fastest riser of the entire ASX 200 today.
In earlier trading, the ASX 200 tech share reached a new 52-week high of $21.16.
Megaport shares came out of a trading halt today after the company completed the institutional component of a $827.3 million fully underwritten entitlement offer.
Earlier this week, Megaport announced four new AI infrastructure contracts worth approximately $458.9 million.
The contracts require approximately $369.5 million of capital expenditure, hence the capital raise.
UBS renewed its buy rating on Megaport shares today.
The broker raised its 12-month price target from $16.70 to $24.20.
This suggests a potential 33% upside ahead.
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is $165.48, up 3.9% today.
Over the past month, this ASX 200 healthcare share has soared 21%.
Macquarie maintained its buy rating on Pro Medicus shares with a $221 target this week.
This suggest a potential 34% upside ahead.
Find out why another expert considers Pro Medicus shares the ‘most defensively positioned software business’ on the ASX.
AMP Ltd (ASX: AMP)
The AMP share price is $1.51, up 2.2% today.
This ASX 200 financial share has fallen 17% in the calendar year to date (YTD).
Citi renewed its buy call on AMP shares with a $1.80 target this week.
This implies potential capital growth of 19% over the next year.
IAG Australia Group Ltd (ASX: IAG)
The IAG share price is $7.55, up 0.1% today and down 5.5% YTD.
UBS reiterated its buy rating on IAG shares with an $8.80 target on Monday.
This implies a potential 17% upside ahead.
Qantas Airways Ltd (ASX: QAN)
The Qantas share price is $9.19, up 0.4% today.
This ASX 200 airline share has lifted 9% over the past month.
Goldman Sachs renewed its buy rating on Qantas shares with a $12.25 target.
This implies potential capital growth of 33% over the next year.
South32 Ltd (ASX: S32)
The South32 share price is $4.64, down 2.2% today.
Over the past month, this ASX 200 mining share has ripped 14% higher.
Morgan Stanley reaffirmed its buy rating on South32 shares with a $4.85 target.
This suggests a potential 4% upside ahead.
The post 7 ASX 200 shares with strengthened buy ratings this week appeared first on The Motley Fool Australia.
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More reading
- BHP shares hit a record high this week. Is the rally about to crack?
- Why Chalice Mining, CSL, Megaport, and Pro Medicus shares are racing higher
- 3 ASX 200 stocks racing higher in this week’s slumping market
- Up 183% since April, why the Megaport share price is tipped to keep charging higher
- How to become rich by investing in ASX shares
Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Macquarie Group, and Megaport. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended BHP Group and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.