Guess which 3 ASX 200 shares were just upgraded by top brokers

Leading brokers forecast 12-month share price gains of up to 15% for these ASX 200 companies.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published April 30, 2024 11:35 am AEST

Three S&P/ASX 200 Index (ASX: XJO) shares just received significant upgrades from leading brokers.

One is an Australian real estate investment trust (REIT) specialising in owning and managing shopping centres.

Another is an Australian stock transfer company that provides corporate trust, stock transfer, and employee share plan services.

And the final one is the second-largest telecommunications company listed on the ASX.

Any guesses?

Well, I won't leave you hanging.

(Broker data courtesy of The Australian.)

Broker looking at the share price. — Image source: Getty Images

ASX 200 shares receiving broker upgrades

The first ASX 200 share to receive a broker upgrade is TPG Telecom Ltd (ASX: TPG).

TPG shares are up 3.4% at the time of writing, trading for $4.51 apiece. But JP Morgan sees more potential gains ahead.

The broker raised TPG to an 'overweight' rating with a $5.10 price target on its shares. That's more than 13% above the current TPG Telecom share price.

TPG shares already had a strong run yesterday, closing up 5.3%.

Investors were snapping up shares after the ASX 200 telco announced a regional network sharing agreement with rival Optus.

As the Motley Fool reported, Optus and TPG "signed agreements to create a regional multi-operator core network (MOCN) to extend TPG Telecom's 4G and 5G mobile networks".

The network sharing arrangement was said to enable TPG's mobile network to reach 98.4% of the Australian population.

The agreement still needs to be approved by regulators. Should that get the green light, TPG expects the regional MOCN to be operational by early 2025.

The TPG share price is down 13% in 2024.

The second ASX 200 share enjoying a broker upgrade is Computershare Ltd (ASX: CPU).

The Computershare share price is up 0.6% at the time of writing at $27.24. And Morgan Stanley believes that's still a potential bargain price.

The broker restarted Computershare at an 'overweight' rating with a $29.70 price target. That represents a potential 9% upside from current levels.

The Computershare share price is up 12% in 2024.

Which brings us to the third ASX 200 share earning a broker upgrade today, Vicinity Centres (ASX: VCX).

Vicinity Centre shares are trading for $1.91 at the time of writing, up 0.6% in intraday trading. And Barrenjoey foresees some sizeable potential gains from here.

The broker raised Vicinity Centre shares to an 'overweight' rating with a $2.20 price target. That represents a potential 15% upside from current levels.

The Vicinity Centre share price is down 7% in 2024.

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