Investors that are on the lookout for some big returns might want to check out these ASX 200 shares listed below.
That's because analysts are tipping their shares to deliver returns of between 15% and 50% for investors over the next 12 months.
Here's what you need to know about them:
GUD Holdings Limited (ASX: GUD)
Analysts at Morgans see plenty of value in this ASX 200 share at current levels.
GUD Holdings owns a portfolio of companies in the automotive aftermarket and accessories sector. Its brands hold market leadership positions in all categories in which they operate. These brands include Ryco Filters, Wesfil, Narva, Projecta, DBA, and Xtreme Clutch.
Morgans was pleased with the company's recent investor update, noting that management is guiding to earnings growth in FY 2024 despite the tough economic environment.
As a result, it has put an add rating and $13.71 price target on its shares. This implies potential upside of 24% for investors over the next 12 months.
Karoon Energy Ltd (ASX: KAR)
Another ASX 200 share that could rise strongly from current levels according to Morgans is Karoon Energy. It is an international oil and gas exploration and production company with assets in Brazil.
Morgans likes the company due to its production growth potential, strong balance sheet, and attractive valuation. It also highlights "potential catalysts just around the corner with Karoon flagging at its recent result that it plans to shortly update the market with more detail on its growth plans, Bauna's outlook, and its ESG approach."
The broker currently has an add rating and $2.80 price target on its shares. This suggests that they could rise by a sizeable 52% between now and this time next year.
TechnologyOne Ltd (ASX: TNE)
Finally, Goldman Sachs thinks that TechnologyOne could be an ASX 200 share with the potential to generate big returns. It is an enterprise software company providing a global SaaS ERP solution that transforms business and makes life simple for users.
Goldman highlights that "despite TNE's improving underlying growth and above-trend PBT outlook, the stock has de-rated from 25.5x to 23.5x NTM EV/EBITDA over the last 12 months while tech peers have re-rated."
In light of this, the broker thinks now is the time for investors to pounce on its shares. Particularly given that its analysts "forecast a mid-to-high teens (~16%) FY23-26E PBT CAGR (vs low-to-mid teens historically) with potential upside on achievement of TNE's 115% NRR target (vs ~110% GSe) or UK success."
The broker has a buy rating and $18.10 price target on its shares. This implies approximately 15% upside for investors.
