These ASX 200 shares could rise 25% to 35%

Analysts believe these shares could rise strongly from current levels.

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If you want to take your investment portfolio to the next level, then it could be worth checking out the ASX 200 shares listed below.

That's because they have been named as buys and tipped to rise between 25% and 35% from current levels.

Here's what analysts are saying about these ASX 200 shares:

Bank of Queensland Ltd (ASX: BOQ)

Analysts at Ord Minnett think that investors should be buying this regional bank's shares this month. Particularly given the broker's belief that bank margins could soon improve from loan and deposit re-pricing.

Last week, its analysts named Bank of Queensland as their preferred regional bank and reiterated their accumulate rating and $8.00 price target on its shares.

Based on the current Bank of Queensland share price of $5.88, this implies a potential upside of 36% for investors over the next 12 months.

In addition, the broker is forecasting some big dividend yields for the ASX 200 share. It has pencilled in fully franked dividends of 35 cents per share in FY 2024 and then 42 cents per share in FY 2025. This equates to very attractive dividend yields of 6% and 7.1%. This stretches the total potential 12-month return well beyond 40%.

South32 Ltd (ASX: S32)

Another ASX 200 share that could offer big returns for investors is diversified mining giant South32.

That's the view of analysts at Morgans, which note that South32 has recently transformed its portfolio, "substantially boosting group earnings quality." In addition, it highlights that its portfolio now contains "metals enjoying solid price strength."

Morgans has an add rating and a $4.10 price target on South32's shares. Based on the latest South32 share price of $3.29, this suggests that a potential upside of 25% is possible for investors from current levels.

Telstra Group Ltd (ASX: TLS)

Over at Morgan Stanley, its analysts believe that telco giant Telstra could be a top option for income investors right now.

In fact, its analysts are tipping very large returns over the next 12 months for investors purchasing shares at current levels.

According to a recent note, the broker has an overweight rating and a $4.75 price target on the ASX 200 share. Based on the current Telstra share price of $3.76, this implies a potential upside of 26% for investors between now and this time next year.

In addition, it expects a 4.8% dividend yield in FY 2024, which stretches the total potential return beyond 30%.

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. 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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