Three market-dominating S&P/ASX 200 Index (ASX: XJO) shares have just earned upgrades from top brokers.
One is a top Aussie coal miner.
The second is a leading integrated property group.
And the third is a $12.7 billion airline.
Which companies are we talking about?
Read on!
(Broker data courtesy of The Australian.)
Three ASX 200 shares earning upgrades
The first ASX 200 share earning an upgrade today is Goodman Group (ASX: GMG), the largest real estate investment trust (REIT) in Australia.
The Goodman share price is up 2.6% in late morning trade today at $36.77. That puts Goodman shares up an impressive 80% in 12 months. Goodman shares also trade on an unfranked trailing dividend yield of 0.8%.
And JPMorgan forecasts more gains ahead for this high-flying ASX REIT. The broker raised Goodman shares to an overweight rating with a $40 price target. That represents a potential upside of just under 9% from current levels.
Goodman reported its full-year FY 2024 results on 15 August. Among the highlights, operating profit was up 15% year on year to $2.05 billion.
Moving on to the second ASX 200 share earning a broker upgrade today, we have Qantas Airways Ltd (ASX: QAN).
Shares in Australia's biggest airline are down 0.8% at the time of writing, changing hands for $8.06 apiece. That leaves Qantas shares up 68% in 12 months. Qantas' management has opted for on-market share buybacks amid the airline's return to profitability. Qantas has yet to return to dividend payments, which were suspended in 2020 following the outbreak of the global pandemic.
Citi believes Qantas shares can continue to fly higher over the year ahead. The broker raised its price target by 24% to $8.20 a share. That's a little less than 2% above the current share price.
Qantas reported its FY 2024 results on 29 August. Highlights included a 10.7% year on year increase in revenue to $21.9 billion.
Which brings us to the third market-dominating ASX 200 share receiving a broker upgrade, Whitehaven Coal Ltd (ASX: WHC).
Shares in Australia's biggest pure-play coal stock are down 0.9% today, trading for $6.93 apiece. This brings the Whitehaven share price down 5% in 12 months. Whitehaven stock also trades on a 2.9% fully franked trailing dividend yield.
Goldman Sachs sees brighter days ahead for Whitehaven. The broker raised the ASX 200 coal share to a buy rating and upped its price target by 23% to $7.90 a share. That represents a potential upside of 14% from current levels.
Whitehaven reported its FY 2024 results on 22 August. Though revenue was down 37% from the prior year, it still reached $3.8 billion.
