Are you on the lookout for big returns? If you are, then read on!
Listed below are a couple of ASX 200 shares that have been named as buys and tipped to rise more than 50% from current levels.
Here's what you need to know about them:
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Lifestyle Communities Ltd (ASX: LIC)
The first ASX 200 share that has been tipped to deliver big returns is Lifestyle Communities.
It is a developer, owner and manager of affordable independent living residential land lease communities. The company currently has 28 residential land lease communities under contract, in planning, in development, or under management.
The team at Goldman Sachs is very bullish on the company. This is due largely to structural growth in demand for land lease as the sector increases its penetration among retirees. In addition, the broker highlights that it sees scope for the company to fund a faster development pace through its capital recycling model. This could underpin strong earnings growth over the coming years.
Goldman currently has a conviction buy rating and $27.95 price target on its shares. Based on the current Lifestyle Communities share price of $14.45, this implies potential upside of 93% for investors.
Pilbara Minerals Ltd (ASX: PLS)
Another ASX 200 share that could have major upside ahead is Pilbara Minerals.
Pilbara Minerals is a leading lithium miner that owns 100% of the world's largest, independent hard-rock lithium operation. That operation, located in Western Australia's resource-rich Pilbara region, is the Pilgangoora Project, which produces a spodumene and tantalite concentrate.
Macquarie is feeling very bullish on Pilbara Minerals, This is due to its major production expansion plans and downstream activities.
In fact, the broker is so positive it currently has an outperform rating and $7.70 price target on Pilbara Minerals' shares. Based on its current share price of $4.89, this implies potential upside of 57% for investors.
