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.

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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.


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.

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