S&P/ASX 200 Index (ASX: XJO) shares closed the session on Wednesday down 0.78% to 7,257.1 points.
With the official reporting season now over, we look at 10 ASX 200 shares that brokers say are a buy following their earnings updates.
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10 ASX 200 shares impressing the experts
Accent Group Ltd (ASX: AX1)
Morgans raised its rating on this ASX 200 retail share to add, with a 12-month price target of $2.40. The footwear retailer reported a net profit after tax (NPAT) of $89 million for the 53 weeks ending 2 July, up 182% on FY22. The Accent share price closed at $2.03, down 0.49%, yesterday.
Pro Medicus Ltd (ASX: PME)
Goldman Sachs retained its buy rating and upped its 12-month price target from $76 per share to $80 per share following the medical imaging company's FY23 report. Pro Medicus revealed a 36.5% bump in NPAT in FY23 to $60.5 million. The Pro Medicus share price fell 0.27% on Wednesday, closing at $72.96.
JB Hi-Fi Limited (ASX: JBH)
JP Morgan raised its rating on this ASX 200 electronics and entertainment retailer to overweight with a 12-month share price target of $52 per share. JB Hi-Fi reported an NPAT of $524.6 million in FY23, down 3.7%. The JB Hi-Fi share price closed at $45.74 yesterday, down 0.18%.
NIB Holdings Limited (ASX: NHF)
Goldman also has a buy rating on this ASX 200 insurance share and a 12-month price target of $8.75. This follows NIB's full-year report in which it revealed a 43% increase in NPAT at $191 million. This resulted in one of the biggest dividend boosts of the season for investors. NIB shares closed at $7.76, down 2.39%.
Super Retail Group Ltd (ASX: SUL)
Morgans has a buy rating on this ASX 200 retail share with a 12-month price target of $15. The owner of BCF, Rebel, and Super Cheap Auto reported record sales and an 11% surge in NPAT to $263 million in FY23. Not to mention a 60% bump to its final dividend at 60 cents per share. Super Retail shares finished the session down 0.78% to $12.80 on Wednesday.
CSL Limited (ASX: CSL)
Citi retained its buy rating on CSL shares with a slightly lower price target of $325 per share. CSL reported a 20% increase in net profit after tax before amortisation (NPATA) in constant currency terms at US$2.86 billion for FY23. The CSL share price lifted 0.13% on Wednesday, closing at $271.20.
Allkem Ltd (ASX: AKE)
Goldman Sachs retained its buy rating on this ASX 200 mining share with a 12-month price target of $17.20. The lithium miner reported a group NPAT of US$525 million from continuing operations, up 57% on FY22. The Allkem share price closed at $14.11, down 0.84% for the day.
Lovisa Holdings Ltd (ASX: LOV)
Morgans has an add rating on this budget jewellery chain with a 12-month price target of $27.50. Lovisa reported an NPAT of $68.2 million in FY23, up 16.7% on FY22. The Lovisa share price closed at $20.94 today, down 4.43%.
Polynovo Ltd (ASX: PNV)
Morgans raised its rating on this ASX 200 healthcare share to buy with a 12-month price target of $1.88. Polynovo reported a 58.8% increase in revenue in FY23 and a net loss after tax of $4.93 million. The Polynovo share price fell 1.85% on Wednesday, closing at $1.325.
NextDC Ltd (ASX: NXT)
Goldman Sachs has a buy rating on this ASX 200 tech share with a 12-month price target of $15.80. The company reported record earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $193.7 million, up 15% year over year for FY23. The NextDC share price closed at $13.06, down 1.36%.
