4 ASX 200 shares just upgraded by brokers, one with 18% upside

Analysts have run the ruler over these stocks and come away more bullish.

| More on:
Two brokers pointing and analysing a share price.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Now could be a great time to buy some S&P/ASX 200 Index (ASX: XJO) materials and industrials shares, if brokers are to be believed.

Analysts have recently taken a fresh look at these companies, coming away with a more positive opinion on their stocks. In fact, one has been tipped to soar 18%.

Let's take a look at four ASX 200 shares that have been upgraded by brokers this week.

4 ASX 200 shares upgraded by brokers this week

Core Lithium Ltd (ASX: CXO)

First off the bat is ASX 200 battery materials favourite Core Lithium.

This year has been transformative for the company. It saw its maiden lithium shipment sail in January and kicked off spodumene production in February. Such happenings may have turned sentiment in the company's favour.

Indeed, broker JPMorgan appears more bullish on the stock than it previously was. It upped its outlook for the ASX 200 lithium share to neutral this week, The Australian reports.

ALS Ltd (ASX: ALQ)

Meanwhile, Goldman Sachs has initiated coverage of testing, inspection, certification, and verification services provider ALS.

The broker expects the company to benefit from the ongoing green metals trend, rating it a buy and tipping it to gain 16.2% to reach $12.56.

Seven Group Holdings Ltd (ASX: SVW)

Goldman Sachs has also slapped a buy rating and a $27.90 price target on industrials share Seven Group – representing a potential 17.8% upside.

The investment group holds major stakes in Boral Limited (ASX: BLD), Beach Energy Ltd (ASX: BPT), and Seven West Media Ltd (ASX: SWM).

Iluka Resources Limited (ASX: ILU)

Finally, critical minerals and rare earths minerals developer and producer Iluka Resources has also been the subject of a broker upgrade.

Barrenjoey upped its expectations for the ASX 200 share, The Australian reports. It's been tipped to gain 9% to trade at $12.

Motley Fool contributor Brooke Cooper 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.

More on Broker Notes

Two male ASX 200 analysts stand in an office looking at various computer screens showing share prices
Broker Notes

Morgans names 3 ASX stocks to buy following results

Here are three stocks that Morgans is feeling bullish on this week.

Read more »

Woman smiles at camera at she buys greens from the supermarket.
Broker Notes

Are Woolworths shares dirt cheap following the selloff?

Is now the time to pounce? Let's see what one leading broker thinks.

Read more »

A miner in a hardhat makes a sale on his tablet in the field.
Resources Shares

Buy this ASX stock for 'the best lithium mine in the world'

The experts at Blackwattle reckon the battery material will come back into vogue soon, and these are the shares to…

Read more »

Man smiling at a laptop because of a rising share price.
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

a miner wearing a hard hat smiles as he stands in front of heavy earth moving equipment on a barren mine site.
Materials Shares

Should you buy BHP shares following the miner's half-year results?

Should you be snapping up this mining giant's shares? Here's what this broker thinks.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Broker Notes

The best ASX shares to buy with $1,000 right now

Analysts at Morgans see these shares as top options this month.

Read more »

gambling asx share price fall represented by woman in soccer had looking frustrated at tablet screen
Share Fallers

This ASX stock has halved in 6 months. It could be a bargain buy

Remember, what the share price did in the past has nothing to do with what it could do in the…

Read more »

Happy couple with a car dealer.
Broker Notes

Goldman Sachs says buy despite this ASX 200 stock trading at a record high

Let's find out why.

Read more »