Brokers have been running the rule over a large number of ASX 200 shares in recent weeks.
Three shares that are highly rated and feature on best idea lists are named below. Here's why they could be great options:
Neuren Pharmaceuticals Ltd (ASX: NEU)
Bell Potter thinks that Neuren Pharmaceuticals could be an ASX 200 share to buy this month.
It is a growing biotechnology company that is busy developing treatments for rare diseases of the central nervous system.
The broker is feeling positive about the company's NNZ-2591 product, which has a significant market opportunity. It explains:
In the last six months, NNZ-2591 reported highly encouraging Phase 2 data in two rare diseases. NEU will once again have first-to-market opportunities in these two rare diseases, assuming future Phase 3 trials are successful. While short-term news will continue to be impacted by Acadia's commercialisation of NEU's first drug, called Daybue, we maintain our BUY recommendation for investors who have a longer 2 to 3-year investment horizon.
Bell Potter has a buy rating and $28.00 price target on its shares. This suggests that upside of 50% is possible for investors from current levels.
Perpetual Ltd (ASX: PPT)
Analysts at Bell Potter are also feeling bullish about Perpetual and see it as an ASX 200 share to buy in August.
The broker believes that the market is undervaluing the remaining business following the sale of its Corporate Trust and Wealth management businesses to private equity firm KKR. It said:
Perpetual announced a disposal of the Corporate Trust (CT) and Wealth Management (WM) businesses to KKR for $2.175bn. This price was ahead of our expectations ($1.5-1.9bn), and should result in a cash payment to shareholders of between $804m-1,104m or $6.95- 9.55 per share, dependent upon the assumptions, particularly tax and deal costs. We estimate the residual asset management business is being valued at between $1.3-1.6bn or between 3.5x-5.5x EBITDA. We believe this is too low for an international asset manager. Valuing the residual asset management business on 6.3x FY25 would imply a value of $2.1bn or $18.17/per share.
Bell Potter has a buy rating and $27.60 price target on its shares. Based on its current share price, this implies potential upside of 28% for investors.
Woodside Energy Group Ltd (ASX: WDS)
A final ASX 200 share that has been tipped as a top buy is Woodside Energy.
Morgans is a big fan of the energy giant and believes its shares are undervalued at current levels following a pullback. As a result, it thinks now is an opportune time to invest. The broker said:
A tier 1 upstream oil and gas operator with high-quality earnings that we see as likely to continue pursuing an opportunistic acquisition strategy. WDS's share price has been under pressure in recent months from a combination of oil price volatility and approval issues at Scarborough, its key offshore growth project. With both of those factors now having moderated, with the pullback in oil prices moderating and work at Scarborough back underway, we see now as a good time to add to positions. Increasing our conviction in our call is the progress WDS is making through the current capex phase, while maintaining a healthy balance sheet and healthy dividend profile.
Morgans has an add rating and $35.00 price target. This suggests that upside of 27% is possible from current levels.
