These ASX 200 shares could rise 20% to 40%

Analysts think these shares could deliver big returns for investors.

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If you're looking for big returns for your portfolio, then now could be a good time to check out the ASX 200 shares listed below.

That's because brokers are tipping them to rise by 20% to 40% from current levels. They are as follows:

Orora Ltd (ASX: ORA)

Goldman Sachs believes that this packaging company could be an ASX 200 share to buy.

The broker currently has a buy rating and $3.40 price target on its shares. If Goldman is on the money with its recommendation, it will mean a very big return of 25% before dividends. And if you throw in the 5%+ dividend yields the broker expects each year through to FY 2026, the total 12-month return stretches beyond 30%.

Goldman recently said: "We are Buy rated on the stock and believe the current market implied valuation of Saverglass provides a favourable risk-reward skew."

Ramsay Health Care Ltd (ASX: RHC)

This private hospital operator could be an ASX 200 share to buy according to analysts at Ord Minnett.

The broker currently has an accumulate rating and $68.00 price target on its shares, which suggests potential upside of 20% for investors.

While Ord Minnett acknowledges that the company is facing major post-COVID headwinds, it feels that this is fully priced in (and more) and that its shares are too cheap to ignore at current levels.

South32 Ltd (ASX: S32)

If you're not against investing in the mining sector, then South32 could be one to consider. That's the view of analysts at Morgans, which see a huge amount of value in its shares at current levels.

The broker currently has an add rating and $4.10 price target on the diversified miner's shares. This implies potential upside of 37% for investors from current levels.

It has been pleased with the way management has transformed its portfolio. It commented: "S32 has transformed its portfolio by divesting South African thermal coal and acquiring an interest in Chile copper, substantially boosting group earnings quality, as well as S32's risk and ESG profile."

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Orora. 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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