If you are on the hunt for some big returns for your portfolio, then it could be worth looking at the two ASX 200 shares in this article.

That’s because analysts are tipping them to rise between 39% and 130% over the next 12 months.

Here’s what they are recommending:

Megaport Ltd (ASX: MP1)

The team at Morgans is positive on this cloud infrastructure company and believes it could be an ASX 200 share to snap up.

In response to recent updates, the broker has lifted its earnings estimates and valuation accordingly.

This has seen Morgans retain its buy rating with a new price target of $27.00. Based on its current share price of $19.38, this implies potential upside of 39% for investors.

Commenting on the company, Morgans said:

MP1 recently raised its FY27 EBITDA guidance by 25%. The compute and network businesses continue to deliver above expectations and MP1 announced three new AI infrastructure contracts with a Total Contract Value of ~A$1bn. Collectively these set a glide path for annualised EBITDA in excess of $850m. We upgrade our EPS forecasts materially. Our Target Price lifts to A$27 per share and we retain our BUY recommendation.

Mesoblast Ltd (ASX: MSB)

Another ASX 200 share that could rise materially according to analysts is biotechnology stock Mesoblast. 

Bell Potter is positive on the company and sees significant value in its shares at current levels.

This morning, it has retained its buy rating and $4.45 price target on Mesoblast shares. Based on its current share price of $1.94, this implies potential upside of approximately 130%.

The broker highlights that there are a number of important events on the horizon. 

The short term outlook for Mesoblast’s revenue growth remains highly attractive. Pivotal events for valuation are approaching, including the interim readout on the adult GvHD study (1QCY27) and the headline data from the chronic lower back pain trial (CLBP) due mid CY27. Both are substantially larger markets than paediatric GvHD, nevertheless the market remains cautious.

Bell Potter then adds:

MSB remains an enigma for most Australian long only institutions, despite having achieved multiple clinical trial successes, product approvals and revenues likely to exceed US$200m in FY27. We expect this information gap will close over the coming year as the company delivers on additional wins in the clinic. To this end, Dr Doug Beall is a leading investigator and KOL in the CLBP trial for Rexlemestrocel and is expected to present at the upcoming AGM. We maintain our buy rating and PT $4.45.

The post 2 ASX 200 shares tipped to rise 39% to 130% appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Buy, hold, sell: Orica, Bank of Queensland, Megaport shares
• Are Megaport shares a must-buy for the AI boom?
• 3 ASX 200 shares I’d buy and hold for the next decade
• Buy, hold, sell: Megaport, Northern Star, Woolworths shares

Motley Fool contributor James Mickleboro has positions in Megaport. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Fortescue Ltd (ASX: FMG) share price has been having a tough year.

The iron ore giant’s shares hit a new 52-week low this week following the release of a disappointing quarterly performance update.

So, with the company’s shares down almost 30% since the start of the year, are they not a bargain buy?

Is the Fortescue share price a bargain buy?

Unfortunately, a couple of Australia’s leading brokers don’t believe that now is the time to buy shares.

For example, a note out of Morgans reveals that its analysts have downgraded the miner’s shares to a trim rating with a reduced price target of $15.40 (from $18.70).

Based on the current Fortescue share price of $15.79, this implies potential downside of 2.5% for investors. 

Commenting on the quarterly update and downgrade, Morgans said:

We have long argued that investing material capital in near-term loss-making projects (magnetite and new energy) has not diversified Fortescue, and has instead left group earnings more exposed to the iron ore price. Magnetite adds more iron ore exposure but at a higher cost, while new energy investment, and US$0.9-1.3bn of FY27 decarbonisation spend, are funded from hematite cash flow. This dynamic is starting to show in the numbers. 

Fortescue flagged that net debt rose US$1.9bn in 1Q27, equal to the final dividend (US$1.0bn) plus quarterly capex (US$0.9bn), implying negative FCF for the quarter. We attribute this mainly to weaker hematite cash flow after the central buying group China Mineral Resources Group (CMRG) reportedly halted purchases of two of Fortescue’s products during the quarter, leaving shipments 6% and actual sales 14% below Visible Alpha (VA) consensus in 1Q27. On updated estimates we lower our rating to TRIM (from HOLD) with an A$15.40 target price (was A$18.70).

Bell Potter says hold

A note out of Bell Potter reveals that its analysts are a little more positive.

According to the note, the broker has responded to the update by retaining its hold rating with a reduced price target of $15.80 (from $17.10). This is broadly in line with the current Fortescue share price.

Speaking about the update, Bell Potter said:

FMG has reported a suite of negative metrics in an out-of-cycle preliminary report updating performance for the September 2026 quarter. Total shipments were down 6% YoY to 46.8Mt (incl. 2.5Mt from Iron Bridge), with a scheduled port shutdown impacting volumes. Sales of 42.9Mt were 8% below shipments of 46.8Mt, with the 3.9Mt gap attributed to ongoing negotiations with China Mineral Resource Group (CMRG), China’s centralised ore buying agency. This is the first time FMG has disclosed a material discrepancy between shipments and sales. Price realisations also weakened to 82% (vs benchmark Platts 61%: US$80/dmt).

We had previously flagged risks to price realisations and we now make a greater allowance and for longer through our forecast period. EPS changes in this report are: FY27 -6%, FY28 -6% and FY29 -7%. We lower our NPV-based target price by 8%, to $15.80/sh and retain our Hold recommendation.

The post Is the Fortescue share price a bargain buy? appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Rural Funds Group, Imdex, Fortescue shares
• 5 things to watch on the ASX 200 on Friday
• Fortescue posts September 2026 quarterly earnings update
• NextDC, Generation Development, Fortescue shares hit 52-week low. Can they rebound?
• Fortescue vs PLS Group: Which ASX mining share is the better buy?

Motley Fool contributor James Mickleboro 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

S&P/ASX 300 Index (ASX: XKO) shares are down 3.6% over 12 months.

Here, three experts give us their views on three ASX 300 shares.

Rural Funds Group Ltd (ASX: RFF)

The Rural Funds share price is down 0.3% over 12 months.

Bell Potter reiterated its buy rating on this ASX 300 agricultural real estate investment trust (REIT) on Wednesday.

The broker has a 12-month price target of $2.55.

This implies potential capital gains of more than 120% ahead.

The broker commented:

Since providing disappointing FY27e AFFO guidance the share price of RFF has been under pressure, this is despite the favourable backdrop in agricultural land valuations and RFF having executed asset sales to create balance sheet capacity, with further sales planned.

During FY26 RFF contracted to dispose of $315m in assets at an 18% premium to BV. While this is a positive, there remains $356m worth
of assets under development or operated, where there is limited income being generated.

Execution of further asset sales, including mature and operated macadamia orchards and leasing of properties undergoing productivity enhancements would likely be catalysts for improved AFFO and the share price.

The 41% discount to Market-NAV and 34% discount to NAV are both all-time highs and material deviations from historical averages.

Imdex Ltd (ASX: IMD)

The Imdex share price is down 4.3% over 12 months.

Imdex provides cloud-connected devices and solutions that help mining companies uncover, define, and mine ore bodies.

Bell Potter has a hold rating and a $3.80 price target on this ASX 300 materials share. 

This implies a potential 13% upside ahead.

The broker said: 

We are becoming increasingly cautious of a deceleration in exploration activity growth from FY28, compounded by weakening Junior equity raisings, a resurgence of cost input inflation observed across the global mining industry, rising bond yields and a weakening gold price environment.

However, exploration activity appears supported in FY27 by a favourable trailing Junior equity raising trend and elevated CY26 budgeted spend by Majors and Intermediates.

Fortescue Ltd (ASX: FMG)

The Fortescue share price is down 18% over 12 months. 

Morgans put a trim rating and a $15.40 price target on Fortescue after its 1Q FY27 update yesterday.

This suggests a potential 2.5% downside ahead for the ASX 300 mining giant.

The broker said:

We have long argued that investing material capital in near-term loss-making projects (magnetite and new energy) has not diversified Fortescue, and has instead left group earnings more exposed to the iron ore price.

Magnetite adds more iron ore exposure but at a higher cost, while new energy investment, and US$0.9-1.3bn of FY27 decarbonisation spend, are funded from hematite cash flow. This dynamic is starting to show in the numbers.

Fortescue flagged that net debt rose US$1.9bn in 1Q27, equal to the final dividend (US$1.0bn) plus quarterly capex (US$0.9bn), implying negative FCF for the quarter.

We attribute this mainly to weaker hematite cash flow after the central buying group China Mineral Resources Group (CMRG) reportedly halted purchases of two of Fortescue’s products during the quarter, leaving shipments 6% and actual sales 14% below Visible Alpha (VA) consensus in 1Q27.

The post Buy, hold, sell: Rural Funds Group, Imdex, Fortescue shares appeared first on The Motley Fool Australia.

More reading

• Is the Fortescue share price a bargain buy?
• 5 things to watch on the ASX 200 on Friday
• Fortescue posts September 2026 quarterly earnings update
• NextDC, Generation Development, Fortescue shares hit 52-week low. Can they rebound?
• Is this cheap ASX dividend share one of the best income buys?

Motley Fool contributor Bronwyn Allen 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 Rural Funds Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.