10 ASX 200 shares attracting buy ratings following their FY23 reports

The experts are tipping share price growth for these companies following the release of their financial reports.

busy trader on the phone in front of board depicting asx share price risers and fallers

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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.

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%.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bronwyn Allen has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, JPMorgan Chase, Lovisa, PolyNovo, Pro Medicus, and Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool Australia has recommended Accent Group, Jb Hi-Fi, Lovisa, NIB Holdings, and Pro Medicus. 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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