Guess which four ASX 300 shares were just re-rated by top brokers

Leading brokers have re-evaluated the prospects for these ASX 300 companies.

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Four S&P/ASX 300 Index (ASX: XKO) shares were just re-rated by top brokers.

One operates in the credit-impaired consumer debt segment.

The second is a biopharmaceutical company.

The third provides vehicle fleet leasing, fleet management, and diversified financial services.

And the fourth is a New Zealand-based building and materials company.

Any guesses?

Keep those in mind.

(Broker figures courtesy of The Australian.)

ASX 300 shares getting re-rated

The first ASX 300 share getting re-rated is Credit Corp Group Ltd (ASX: CCP)

The Credit Corp share price is up 4.0% in intraday trading at $15.47 a share. That sees the stock up more than 23% over six months.

And Macquarie believes it's still undervalued after that strong run. The broker raised Credit Corp to an 'outperform' rating with an $18.32 price target. That represents a 19% potential upside from current levels.

Credit Corp shares also have a strong history of delivering reliable passive income. Over the past 12 months, the company has paid out 62 cents a share in fully franked dividends. That equates to a current trailing yield of 4.0%.

Which brings us to the second ASX 300 share getting a broker re-rate today, Neuren Pharmaceuticals Ltd (ASX: NEU).

The Neuren Pharmaceuticals share price is up 6.1% in intraday trading at $20.22 a share. Shares are now up a whopping 42% over six months.

And according to JP Morgan it still looks like a bargain at these levels.

The broker gave Neuren an 'overweight' rating and a $23.60 price target, representing a potential 17% upside from current levels. The company does not pay dividends at this time.

Also getting re-rated

Also getting re-rated today is ASX 300 share FleetPartners Group Ltd (ASX: FPR).

The FleetPartners share price is down 4.1% today at $3.31 a share. However, shares remain up 19% over six months.

And Morgan Stanley thinks today's sell-down is likely misguided. The broker increased its price target for FleetPartners by 22% to $3.90 a share and maintained its 'overweight' rating. That represents a potential 18% upside from current levels.

FleetPartners shares last delivered dividends in 2018.

Rounding off the list, the fourth ASX 300 share getting re-rated today is Fletcher Building Ltd (ASX: FBU).

(Did you guess all four?)

The Fletcher Building share price is down 3.0% today at $2.79 a share. The stock has tumbled 35% over six months.

Fortunately, Morgan Stanley believes the worst of the pain should be over.

While the broker cut its price target by 23% to $2.84 a share, Morgan Stanley maintained its 'equal-weight' rating.

Fletcher Buildings suspended its interim dividend payment for FY 2024 due to challenging trading conditions.

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bernd Struben 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 JPMorgan Chase and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie 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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