Goldman Sachs upgraded its 12-month share price forecasts on BHP Group Ltd (ASX: BHP) and Fortescue Ltd (ASX: FMG) this week.

As many commodity prices race higher, taking mining stocks with them, Goldman is among many brokers updating their price targets.

Goldman’s new targets reveal it thinks one of these ASX 200 mining giants will rip, while the other will dip in the new year ahead.

Let’s review.

Forecast for BHP vs. Fortescue shares in 2026

BHP is the largest ASX 200 mining share with diversified operations encompassing iron ore, copper, and met coal.

The miner also has a nickel mining operation in care and maintenance since mid-2024, and is building a potash project in Canada.

Fortescue is the second-largest ASX 200 mining share.

It’s a pure-play iron ore business with a young green energy division focused on hydrogen and ammonia.

Why are BHP and Fortescue shares rising in 2026?

Of course, the iron ore price heavily impacts both BHP and Fortescue share prices.

Over the past 12 months, the iron ore price has risen by 7% amid uncertainty in China’s economy.

Meanwhile, the copper price has streaked ahead.

Copper futures are up 37% over the past 12 months and reached a record above US$6 per pound last week.

This is highly relevant to the BHP share price, given the miner is now the world’s largest copper producer.

The met coal price has also lifted 27% and potash has lifted 24% over the past 12 months.

While BHP’s nickel operations are on hold, a 13% annual lift in the nickel price also bodes well for the share price.

BHP intends to review its decision to temporarily suspend Western Australia Nickel within 12 months.

As for share price growth, BHP hit a two-year high of $49.75 per share on Thursday.

Meanwhile, Fortescue shares hit an 18-month high of $23.38 on 11 December.

The Fortescue share price traded close to that level this week.

The ASX 200 mining share reached $23.10 on Thursday and $23.35 in the previous week.

So, which will rip and which will dip?

Goldman is among three brokers who think the BHP share price will return to the $50-plus range in the new year.

This is significant because the BHP share price has not been above $50 since January 2024.

In fact, the all-time record high for BHP shares is just over that threshold at $50.84, reached on 28 December 2023.

Last week, Bank of America reiterated its buy rating on BHP shares and raised its 12-month price target from $49 to $56.

Also last week, Barclays maintained a hold rating on BHP shares with a price target of $50.22.

This week, Goldman Sachs maintained a buy rating on BHP and lifted its target from $48.10 to $57.70.

That’s the highest BHP share price target we have seen to date.

In short, Goldman foresees that the BHP share price will rip in 2026.

The new target price implies a potential upside of about 18% from where BHP shares closed yesterday.

With Fortescue shares, Goldman Sachs foresees a dip in 2026.

This week, Goldman Sachs reiterated its hold rating on Fortescue shares.

The broker raised its 12-month price target from $19.30 to $22.70.

This implies a minor downside of 0.5% from where Fortescue shares closed on Friday.

The post BHP vs. Fortescue shares: Goldman Sachs says 1 will rip and 1 will dip appeared first on The Motley Fool Australia.

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• Fortescue shares vs. BHP: Which delivered superior returns in 2025?

Bank of America is an advertising partner of Motley Fool Money. 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. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Barclays Plc. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

There is a wide range of ASX shares that could deliver market-beating returns in the coming months and years. We don’t have to go with the most well-known blue chips, tech shares or exchange-traded funds (ETFs) to achieve the desired return.

Analysts are always on the lookout for businesses that seem undervalued relative to their prospects, which could happen to be the case with any company in the S&P/ASX 300 Index (ASX: XKO).

While the ASX shares below may not be the most popular investment ideas, analysts think they’re buys and could rise from here.

News Corp (ASX: NWS)

News Corp is the business behind a number of newspapers, including The Wall Street Journal, The Australian, Herald Sun, The Daily Telegraph, The Times, and The Sun. It also owns News.com.au, HarperCollinsPublishers, MarketWatch, and Dow Jones, as well as stakes in REA Group Ltd (ASX: REA) and Realtor.com.

Broker UBS currently has a buy rating on News Corp, with a price target of $64.50, implying a solid rise over the next 12 months. The broker said the ASX share’s FY26 first quarter was “good” with revenue and operating profit (EBITDA) slightly ahead of expectations, with “notable outperformance from Move and News Media”, reflecting healthy operating conditions going into FY26.

In UBS’ view, Dow Jones remains “the key to a meaningful NWS stub re-rate, more so than other segments like Move”. The broker explained:

Key catalysts we are waiting for include: 1) acceleration in both rev and EBITDA growth at Move as we start to see first signs of green shoots, with further US rate cuts likely to support adjacency products and leads uptake; and 2) announcement of further AI deals.

We reiterate our Buy rating; with short- and medium-term drivers intact, we view NWS’s fwd EBITDA of 12x and PE of 28x as attractive vs the past five-year average.

UBS predicts the company could generate US$1.08 of earnings per share (EPS) in FY26 and then $1.29 in FY27.

Insurance Australia Group Ltd (ASX: IAG)

IAG is one of Australia’s largest insurance businesses with brands like NRMA, SGIO, SGIC, ROLLiN’, and NZI.

UBS has a buy rating on the business, with a price target of $9.10. That also implies a rise of more than 10% in the next 12 months.

The broker noted that the ASX share has fully integrated its recently acquired RACQ Insurance business into its group reinsurance cover, confirming this will support targeted reinsurance synergies.

IAG’s whole of account quota share has been expanded by 2.5% to 35% of gross earned premium (GEP) – IAG expects this to further reduce earnings volatility by sharing premiums and losses with reinsurers.

UBS predicts that the business could generate $1 billion of net profit in FY26.

Judo Capital Holdings Ltd (ASX: JDO)

Judo is a financial institution focused on providing loans to small and medium businesses. It also offers term deposits as a form of funding its loans.

UBS rates Judo as a buy, with a price target of $2.20, implying a strong return over the next year if the market agrees with the broker’s optimism.

The broker thinks the ASX share is well placed to meet FY26 targets.

Judo’s net interest margin (NIM) – the profit it makes on its lending in percentage terms – guidance of over 3% is based on funding mix improvements, mainly relating to its deposit offering. The business is offering more term deposit durations, including five, seven, and eight-month terms.

UBS also noted that new business origination “looks strong” for the company, with agriculture and regional lending doing a lot of the heavy lifting for its growth.

Judo is expecting operating leverage to be a “multiplier” as it continues to scale with capacity.

The broker forecasts that the ASX share could make a net profit of $131 million in FY26 and $166 million in FY27.

The post Brokers rate these 3 ASX shares as buys in January appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison 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.

When high-quality or fast-growing businesses drop well below their previous highs, it can create an attractive setup for patient investors. Especially when the underlying growth story hasn’t disappeared, but sentiment has.

Right now, there are a couple of ASX shares that still trade under $30 per share, despite once commanding far higher prices. They aren’t guaranteed winners, but they are the kind of wealth-builders that can surprise on the upside when conditions improve.

Here are two that stand out.

Life360 Inc (ASX: 360)

Life360 Inc has built a global platform around family safety, location sharing, and digital peace of mind. It operates a subscription-based model with strong network effects, meaning the product becomes more valuable as more people use it.

Despite continuing to grow its user base and improving monetisation, Life360 shares are currently trading at $29.62. That’s a long way below their 52-week high of $55.87.

This pullback reflects a broader derating of growth stocks rather than a collapse in the company’s fundamentals. Markets have become far more demanding when it comes to profitability, margins, and cash flow, and that shift has weighed heavily on technology names.

However, Life360’s long-term opportunity remains substantial. The company is still early in its global growth journey, with significant scope to lift average revenue per user and expand its subscription base over time.

Bell Potter sees a lot of value in its shares. It has a buy rating and $52.50 price target on them.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne is a very different type of business, but one that also fits the fallen favourite profile.

The enterprise software provider has spent decades building mission-critical systems for governments, councils, and large organisations. Its shift to a SaaS model has delivered recurring revenue, high customer retention, and strong long-term growth. These are traits the market once rewarded very generously.

Today, TechnologyOne shares are changing hands at $27.23, well below their 52-week high of $42.88. That decline has been driven by slightly softening (but still quick) growth and broader weakness across technology stocks, rather than a breakdown in the business itself.

With long-term contracts, sticky customers, and predictable cash flows, TechnologyOne remains a high-quality operator. If sentiment toward profitable software stocks improves, it wouldn’t be surprising to see the market reassess how much it is willing to pay for that stability and growth.

Morgan Stanley is bullish on TechnologyOne. It has an overweight rating and $36.50 price target on its shares.

The post Still under $30, these wealth-builders may not stay cheap for long appeared first on The Motley Fool Australia.

More reading

• How I’d go about finding undervalued ASX shares to buy and hold forever in 2026
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Motley Fool contributor James Mickleboro has positions in Life360 and Technology One. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360 and Technology One. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Elsight Ltd (ASX: ELS) has gone from under-the-radar to one of the most talked-about tech stocks on the ASX.

The drone connectivity specialist is extending its rally today as buying momentum continues to build.

At the time of writing, Elsight shares are up 5.51% to $4.02. Earlier in the session, the stock briefly touched $4.03, the highest level it has ever traded.

The move caps off an extraordinary run. Elsight shares are up almost 45% over the past month and more than 1,032% over the past year, making it one of the strongest performers on the ASX.

What does Elsight do?

Elsight is a technology company focused on secure communications for drones and unmanned systems.

Its core product, called Halo, allows drones to stay connected over long distances by combining multiple networks, including cellular, satellite and radio links, into one stable connection.

This type of technology is critical for drones used in defence, public safety, industrial inspections and emergency services. It allows drones to fly beyond the operator’s line of sight while maintaining reliable control and live data feeds.

Strong momentum behind the scenes

Over the past year, Elsight has delivered a string of positive updates, including growing customer adoption, expanding international partnerships and improving financial performance.

The company reported record revenue in 2025 and also reached cash flow positive, marking an important milestone.

Recent contract wins, particularly in the US and Europe, have helped reinforce confidence that Elsight’s technology is gaining real commercial traction.

Management buying shares sends a clear signal

Over the past year, multiple Elsight directors have bought shares on market, often at prices well below current levels. These purchases have not been one-off trades, but a series of repeat buys across different points in the rally.

Most recently, executive director David Furstenberg and non-executive chairman Ami Shafran both bought 20,425 shares each in early February 2025 at around 36.8 cents per share. Earlier purchases were also made throughout 2024, with directors buying shares in the 30 to 50 cent range, long before the stock’s recent surge.

Non-executive director Howard Digby has also been an active buyer, adding shares on several occasions during 2024 at prices between 35 cents and 44.5 cents.

Keep in mind that this buying activity stands out given how much the share price has since risen.

What investors should keep in mind

Despite the impressive gains, Elsight remains a small, fast growing tech stock, and that comes with risk.

The share price has moved very quickly, so periods of volatility should be expected. The company is also not widely covered by major brokers, meaning sentiment can shift sharply on news flow.

Still, the broader outlook is hard to ignore. With drone usage expanding globally and secure connectivity becoming essential, Elsight appears well placed in a growing market.

The post This ASX drone tech stock just hit a record high. Here’s why investors are piling in appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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.

The Australian share market may be closing in on its record high, but that doesn’t mean that there aren’t big potential returns out there.

For example, listed below are three ASX 200 shares that could have major upside potential according to analysts. Here’s what you need to know:

Breville Group Ltd (ASX: BRG)

Breville’s growth story is often misunderstood as cyclical or discretionary. While it does sell consumer appliances, the business is better viewed as a premium product company with global reach.

Breville has spent years refining its design, engineering, and brand positioning, allowing it to sell higher-value products rather than competing on volume alone.

As Breville deepens its presence in North America and Europe, incremental growth does not require reinventing the business. New product launches, category expansion, and distribution leverage can all contribute to earnings growth without dramatic increases in cost.

And while US tariffs could pose a short-term risk, this appears to have been priced in now.

Macquarie is bullish on this ASX 200 stock. It has an outperform rating and $39.20 price target on its shares. This implies potential upside of 25% for investors from current levels.

Lovisa Holdings Ltd (ASX: LOV)

Another ASX 200 share that could have plenty of upside is growing retailer Lovisa.

Its fast-fashion jewellery model is built around speed, store productivity, and global rollout, rather than relying on any single region or trend. That structure gives Lovisa flexibility to keep expanding even when individual markets slow.

As long as Lovisa can continue opening stores at attractive returns and managing inventory tightly, earnings growth will follow. And small improvements in store performance or international penetration can compound meaningfully over time.

Macquarie is also positive on this one. It has an outperform rating and $37.30 price target on its shares. This suggests that they could rise 21% between now and this time next year.

NextDC Ltd (ASX: NXT)

Finally, NextDC could be an ASX 200 share to buy for big potential returns.

It develops and runs data centres that underpin cloud computing, enterprise IT, artificial intelligence, and data-intensive workloads. While near-term earnings can be influenced by build cycles and capital investment, the long-term demand drivers remain firmly in place.

As NextDC’s newer facilities mature and customer demand catches up with capacity, operating leverage can begin to show. Revenue growth does not need to accelerate dramatically for margins to improve as fixed costs are absorbed.

With digital infrastructure becoming more critical across industries, NextDC’s role may prove more valuable than the market currently prices in.

Morgans is a big fan and has a buy rating and $19.00 price target on its shares. This implies potential upside of approximately 45% over the next 12 months.

The post Why these ASX 200 shares could still have major upside in 2026 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Lovisa and Nextdc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It has been another busy week for many of Australia’s top brokers. This has led to the release of a number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone right now:

Catalyst Metals Ltd (ASX: CYL)

According to a note out of Bell Potter, its analysts have upgraded this gold miner’s shares to a buy rating with an improved price target of $13.50. This follows the release of a strong quarterly update which came in ahead of the broker’s expectations. Looking ahead, the broker feels that the company’s Plutonic operation will become a long-term production hub that underpins a significant increase in output. In fact, Bell Potter believes Catalyst Metals will increase its production to 200,000 ounces a year by FY 2029. This compares to its current guidance for FY 2026 of 100,000 ounces to 110,000 ounces of gold. Combined with its updated gold price forecast, the broker believes this gold miner’s shares offer significant value at present. The Catalyst Metals share price is trading at $8.82 on Friday afternoon.

Monadelphous Group Ltd (ASX: MND)

Another note out of Bell Potter reveals that its analysts have upgraded this diversified services company’s shares to a buy rating with an improved price target of $33.00. Bell Potter has been pleased with the company’s strong start to FY 2026. It notes that Monadelphous has won significantly more contracts than it was expecting. Financial year to date, Bell Potter estimates that the company’s contract award value is ~$1,400 million. This compares to $1,550 million in the whole of FY 2025. The good news is that the company’s current orderbook builds a strong foundation for earnings growth in the near-term that it feels is not reflected in consensus expectations. The Monadelphous share price is fetching $30.00 at the time of writing.

Zip Co Ltd (ASX: ZIP)

Analysts at Citi have retained their buy rating on this buy now pay later provider’s shares with a trimmed price target of $4.30. According to the note, the broker believes that data out of the United States points to a strong performance from Zip Co during the last quarter. Citi highlights that app downloads hit record highs during December, which bodes well for its transaction growth in the massive market. In fact, the broker is predicting total transaction value (TTV) growth of 43% in the second quarter. Though, it wouldn’t be surprised if Zip Co outperformed this. The Zip share price is trading at $3.09 this afternoon.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of Motley Fool Money. 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.

Natural gas prices have fallen sharply over the past month, catching many energy investors off guard.

The US natural gas benchmark is now trading near US$3.10 per MMBtu, down roughly 22% over the last 4 weeks. That move has pushed prices to their lowest levels in around 3 months and marks a swift reversal from the strength seen late last year.

So, what is happening, and what does it mean for ASX energy stocks?

Why natural gas prices are falling

The main driver behind the recent sell-off has been weaker demand.

Much of the US and Europe has experienced milder than normal winter weather, reducing heating demand during what is usually the strongest period of the year for natural gas consumption. That has left the market with less urgency to push prices higher.

US gas production continues to run near record levels, while storage withdrawals have come in well below expectations. The latest data showed inventories falling by just 71 billion cubic feet, well short of what the market had been expecting. As a result, storage levels remain comfortable, easing near-term supply concerns.

There has also been some softness on the export side. LNG feedgas flows have dipped in recent weeks as maintenance activity at export terminals reduced demand, adding to the short-term supply-demand imbalance.

What the outlook looks like

In the short term, many analysts expect natural gas prices to remain under pressure if mild weather continues and supply stays elevated.

Forecasts suggest global gas demand could pick up again in late 2026 and into 2027, supported by rising LNG exports, growing data centre power needs, and ongoing electrification. Some projections point to tighter market conditions next year if demand growth begins to outpace supply.

What this means for ASX energy stocks

For Australian energy companies, falling gas prices can be both positive and negative.

For Origin Energy Ltd (ASX: ORG), lower gas and LNG prices can pressure earnings from its LNG exposure, particularly through the Australia Pacific LNG project. At the same time, cheaper gas can help reduce input costs for its retail energy business.

For AGL Energy Ltd (ASX: AGL), lower wholesale gas prices can support margins for electricity generation and retail supply. However, softer energy prices can also limit revenue growth, especially in a competitive retail market.

Both companies are also influenced by domestic policy settings, including efforts to keep more gas available for local use, which can cap pricing power.

Foolish bottom line

Natural gas prices have fallen by around 22% over the past month due to weaker demand and ample supply. While that creates short-term pressure, longer-term demand trends suggest the market could tighten again.

Keep in mind that energy stocks remain exposed to swings in gas prices and weather patterns, making the sector one to watch closely in 2026.

The post Natural gas prices have fallen 22% in a month. Here’s what is driving the drop appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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.

The S&P/ASX 200 Index (ASX: XJO) is having a good finish to the week. In afternoon trade, the benchmark index is up 0.45% to 8,902.7 points.

Four ASX shares that have failed to follow the market higher on Friday are listed below. Here’s why they are ending the week in the red:

Australian Ethical Investment Ltd (ASX: AEF)

The Australian Ethical share price is down 1.5% to $4.91. Investors have been selling this fund manager’s shares after it released a trading update. Australian Ethical revealed that its funds under management (FUM) dropped 1% in the December quarter to $14.08 billion. This was driven by positive retail and wholesale net flows, which were offset by negative investment performance and institutional outflows during the period. The company’s managing director, John McMurdo, said: “Despite challenging investment market conditions, it’s been a pleasing first half of the year.”

Northern Minerals Ltd (ASX: NTU)

The Northern Minerals share price is down 5.5% to 3.5 cents. This is despite the heavy rare earths company releasing an update on preliminary laboratory metallurgical test work. Northern Minerals’ managing director and CEO, Shane Hartwig, said: “Achieving the positive preliminary metallurgical results for the Wolverine – Dazzler blend test work marks an important milestone in the Company’s development of Dazzler as a potential additional source of heavy rare earth feed material for Browns Range.”

PLS Group Ltd (ASX: PLS)

The PLS share price is down over 4% to $4.62. This may have been driven by profit taking from some investors following very strong gains over the past 12 months. Earlier this week, Morgans put a hold rating and $4.55 price target on the lithium miner’s shares. It said: “We upgrade our recommendation to Hold, reflecting improving lithium market fundamentals that will materially strengthen PLS’ earnings and cash flow generation.” The broker sees more value in Mineral Resources Ltd (ASX: MIN) and other ASX lithium shares at current levels. You can read about its Mineral Resources recommendation here.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 1.5% to $23.68. Investors have been selling Woodside and other ASX energy shares on Friday. This was in response to a sharp pullback in oil prices overnight due to easing US-Iran tensions. Both Brent and WTI crude oil prices were down over 4% during Thursday night’s session.

The post Why Australian Ethical, Northern Minerals, PLS, and Woodside shares are falling today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Australian Ethical Investment. The Motley Fool Australia has recommended Australian Ethical Investment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Plenty of ASX 200 mining shares have hit multi-year highs over the past fortnight as several key commodity prices continue to soar.

Some commodities have risen by more than 25% and even up to 70% over the past month alone.

This has led to many brokers updating their ratings and 12-month share price targets on several leading ASX 200 miners.

Let’s take a look.

BHP Group Ltd (ASX: BHP)

The ASX 200 iron ore and copper mining giant hit a two-year high of $49.75 per share yesterday.

Last week, Jason Fairclough at Bank of America reiterated his buy rating on BHP shares.

He raised his 12-month share price target from $49 to $56.

A $56 share price would be a record for BHP shares. The current record is $50.84, reached on 28 December 2023.

This week, Goldman Sachs maintained a buy rating on the market’s largest ASX 200 mining share.

The broker lifted its price target from $48.10 to $57.70.

Also this week, Macquarie reiterated its hold rating on BHP and raised its price target from $43 to $48.

Morgan Stanley reiterated its buy rating on BHP shares with a price target of $48.

Yesterday, Ord Minnett reiterated its buy rating and lifted its price target from $48 to $49.

Fortescue Ltd (ASX: FMG)

The Fortescue share price hit a 52-week high of $23.38 on 11 December.

The ASX 200 mining share has been trading very close to this level recently.

This week, Jarden reiterated its sell rating on Fortescue shares and raised its price target from $16 to $17.

Goldman Sachs reiterated its hold rating and raised its target from $19.30 to $22.70.

Macquarie retained its sell rating with a revised price target of $21, up from $19.50.

Mineral Resources Ltd (ASX: MIN)

This ASX 200 iron ore and lithium mining share reached a 52-week high of $62.86 on Thursday.

This week, Bell Potter maintained its buy rating and raised its price target from $59 to $68.

Goldman Sachs maintained its sell rating but raised its target from $35 to $43.

Macquarie maintained its hold rating and raised its price target from $51 to $56.

PLS Group Ltd (ASX: PLS)

The ASX 200’s largest pure-play lithium share hit a two-and-a-half-year high of $5.04 yesterday.

This week, Bell Potter upgraded its rating to hold and lifted its price target from $2.65 to $4.55.

Macquarie kept its hold rating but lifted its price target from $3.80 to $4.50.

South32 Ltd (ASX: S32)

ASX 200 diversified mining share South32 hit a near two-year high of $4.17 yesterday.

South32 is exposed to nine commodities, including silver via its Cannington mine and aluminium.

This week, UBS maintained its hold rating with a price target of $3.50.

Morgan Stanley reiterated its buy rating with a target of $3.45.

Goldman Sachs maintained its hold rating but raised its target from $2.90 to $3.40.

Macquarie reiterated its buy rating and lifted its target from $3.70 to $4.20.

Newmont Corporation CDI (ASX: NEM)

This ASX 200 large-cap gold mining share reached a new record of $172.60 on Wednesday.

Citi reiterated its buy rating and lifted its target price from $160 to $177.

Goldman Sachs reiterated its buy rating and lifted its target price from $154.50 to $185.10.

Sandfire Resources Ltd (ASX: SFR)

The ASX 200’s largest pure-play copper share reached a record $19.61 yesterday.

This week, Goldman Sachs reiterated its hold rating but lifted its target price from $12.30 to $16.20.

Canaccord Genuity kept its hold rating too, but lifted its target from $15 to $19.25.

Morgan Stanley reiterated its sell rating with an $11.45 target.

The post Brokers issue new price targets on soaring ASX 200 mining shares appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen has positions in BHP Group and South32. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

With just a few hours before Friday’s closing bell, the S&P/ASX 200 Index (ASX: XJO) is up a welcome 2% for the week, with plenty of help from these four surging ASX 200 stocks.

We’ve got a fairly diverse batch of market leaders this week.

Here’s why investors have been buying these ASX shares.

ASX 200 stocks storming higher this week

The first outperforming stock on my list for the week is IperionX Ltd (ASX: IPX).

Shares in the titanium products producer closed last Friday trading for $6.37. At the time of writing, shares are changing hands for $7.16 each. That sees this ASX 200 stock up 12.3% for the week.

IperionX shares have been key beneficiaries of the United States’ push to strengthen the defence-related supply chains for critical materials.

IperionX shares are marching higher again today after the company announced it had received the final US$4.6 million payment from the US$47.1 million US government funding package to support the development of titanium manufacturing within the US.

Which brings us to the second ASX 200 stock racing higher this week, Whitehaven Coal Ltd (ASX: WHC).

Shares in the coal miner closed last Friday trading for $7.83 and are currently trading for $8.82. This puts the Whitehaven share price up 12.7% for the week.

There were no price-sensitive announcements from the company this week. But the outlook for long-term coal demand is getting a big boost from China.

According to Trading Economics:

Coal prices rose toward US$110 per ton, climbing toward one-month highs as China prepares to launch more than 100 coal-fired power generators that are expected to supply electricity across the globe this year.

Moving on to the third ASX 200 stock smashing the benchmark this week, we have Iluka Resources Ltd (ASX: ILU).

Shares in the miner closed last week at $6.18. Shares are currently swapping hands for $7.06 each. That sees the Iluka Resources share price up 14.2% for the week.

With no fresh news out this week, Iluka also looks to be benefiting from the Western world’s push to secure crucial rare earths supplies outside of China. Iluka produces zircon and high-grade titanium dioxide feedstocks, and the company owns a rare earths refinery project in Western Australia.

Which brings us to…

Leading the charge

The top performing ASX 200 stock on my list for the week is Light & Wonder Inc (ASX: LNW).

Shares in the gaming technology company closed last week trading for $154.70. In afternoon trade today, shares are changing hands for $179.72 apiece. This sees the Light & Wonder share price up 16.2% for the week.

Light & Wonder shares closed up 18% on Monday after announcing an end to the legal actions lodged by rival gaming company Aristocrat Leisure Ltd (ASX: ALL) in Australia and the United States.

Light & Wonder admitted it had erroneously used some of Aristocrat’s maths information to develop its Dragon Train and Jewel of the Dragon games. The company agreed to pay Aristocrat Leisure US$127.5 million to settle the matter.

The post 4 ASX 200 stocks smashing the benchmark this week appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today

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 Light & Wonder Inc. The Motley Fool Australia has recommended Light & Wonder Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.