7 ASX 200 shares upgraded by brokers following earnings updates

Which seven ASX 200 companies have received a positive broker re-rating?

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S&P/ASX 200 Index (ASX: XJO) shares closed the session on Wednesday up 0.4% to 7,148.4 points.

We have seen a mixed bag of reports this earnings season.

These 7 ASX 200 shares have been positively re-rated by brokers today after releasing their results.

As per The Australian, here are the changes.

7 ASX 200 shares getting the thumbs up from brokers

Megaport share price to rise 50%, says Macquarie

ASX 200 technology share Megaport Ltd (ASX: MP1) received one of the most bullish 12-month price target updates today.

The Megaport share price closed the session at $12, down 1.24%.

Macquarie has raised its rating to outperform with an $18 share price target.

This implies a potential 50% upside on today's closing share price.

But Morgans has gone the opposite way.

It has cut its rating to hold with a vastly lower share price target of $13 for Megaport.

Megaport released its full-year FY23 results yesterday.

The ASX 200 share is up 95% in the year to date.

Citi raises Hub24 price target 18%

ASX 200 financial share Hub24 Ltd (ASX: HUB) has more room for growth, according to Citi.

The Hub24 share price closed at $30.99, down 0.67%.

Citi has increased its rating to buy with an 18% higher share price target of $35.60.

So, we're talking a potential upside of 15% over the next 12 months (if Citi is right!)

However, not all brokers are with Citi on this one.

Morgans and Jefferies cut their ratings to hold, and Macquarie cut Hub24 shares to neutral. Their price targets are $32.80, $31.08, and $33.60, respectively.

This follows Hub24 releasing its full-year FY23 results yesterday.

The ASX 200 share is up 15% in the year to date.

Alumina shares have 13% upside potential

Citi has raised its rating to neutral on ASX 200 mining share Alumina Limited (ASX: AWC).

The Alumina share price closed at $1.15 today, down 4.96%.

Although the broker is neutral on the stock, its 12-month share price target of $1.30 shows there's room for growth.

This follows Alumina releasing its full-year FY23 results yesterday.

The Alumina share price is down 23% in 2023 so far.

An ingenious investment idea?

Our next broker upgrade goes to Ingenia Communities Group (ASX: INA).

The Ingenia share price finished at $4.03, down 4.5% on Wednesday.

JP Morgan has upped its rating to neutral with a $4.30 share price target.

This implies a potential 7% upside on today's closing share price.

The lifestyle and retiree communities developer revealed its full-year FY23 earnings yesterday.

The ASX 200 share is down 10% in the year to date.

15% upside on Nanosonics, says Bell Potter

ASX 200 healthcare share Nanosonics Ltd (ASX: NAN) is set to rise over the next 12 months, according to Bell Potter.

The Nanosonics share price closed the session today at $4.10, down 8.89%.

The broker has increased its rating to hold, and raised its share price target by 17% to $4.85.

This implies a potential 15% upside on today's closing share price.

Nanosonics released its full-year FY23 results yesterday.

The ASX 200 share is down 3% in 2023 to date.

Monadelphous shares to outperform, says Macquarie

Macquarie reckons Monadelphous Group Ltd (ASX: MND) shares will outperform their ASX 200 peers over the next 12 months.

So that's exactly the new rating it's giving the stock, along with a $14.50 share price target.

The Monadelphous share price closed today at $14.37, up 6.6%.

The engineering services provider released its full-year FY23 numbers yesterday.

The ASX 200 share is up 11% in the year to date.

Westfield owner not looking so hot

ASX 200 property share Scentre Group (ASX: SCG) has also received a broker re-rating.

But it's not at all inspiring.

The Scentre share price closed the session today at $2.70, down 1.46%.

CLSA has raised its rating to reduce with a $2.70 share price target.

So, the broker foresees no share price growth from here over the next 12 months.

The Westfield shopping mall owner released its half-year results yesterday.

The real estate stock is down 5% in the year to date.

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bronwyn Allen has positions in Alumina and Macquarie Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended JPMorgan Chase and Megaport. The Motley Fool Australia has recommended Hub24, Macquarie Group, Megaport, and Nanosonics. 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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