Investors who like to pick individual ASX 200 shares tend to do so on their own time, and under their own steam. However, we also tend to like hearing about what the ASX experts and brokers are saying and doing, perhaps for inspiration and discussion more than anything.
With that in mind, let's discuss some recent broker rating changes today, and see what the experts are recommending investors do with some popular ASX shares.
According to a recent report in The Australian, ASX brokers have given no fewer than three ASX 200 shares an upgrade. We'll also touch on two other ASX stocks that got a downgrade from experts.
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3 ASX 200 shares that brokers just upgraded
First up is A2 Milk Company Ltd (ASX: A2M). A2 Milk has been in the wars for a few years now, with investors still waiting for the dairy company to regain its former heights. Those dreams may have been given a lifeline today, with ASX broker Bell Potter reportedly raising A2 Milk stock from a 'sell' rating to a 'hold'.
Bell Potter gave this ASX 200 share a 12-month price target of $6.10 as well. That would no doubt be a welcome change from the company's current price of $5.75.
Next up, we have the financial services company Insignia Financial Ltd (ASX: IFL).
Brokers at Barrenjoey have upgraded Insignia shares from 'equal-weight' to 'overweight'. This ASX expert has also given Insignia a 12-month share price target of $4.25. The Insignia share price has already rocketed close to 39% in 2024 to date. Given Insignia's current share price of $3.25, investors will no doubt cheer this rosy outlook from Barrenjoey.
Finally, broker Morgan Stanley has given BlueScope Steel Ltd (ASX: BSL) a second look. MS raised its rating on Bluescope to 'equal-weight' from its previous 'underweight' rating. That rating came with a 12-month price target of $22, which represents a decent improvement from this company's current $20.53 pricing.
Now the bad…
However, it's not all sunshine and roses for Bluescope. Two other brokers have simultaneously downgraded this company. Jarden Securities has cut its rating on Bluescope to 'neutral', with a share price target of $21.90.
CLSA was even more bearish, slapping Bluescope with an 'underperform' rating, replete with a price target of just $18.
Bluescope wasn't the only unlucky ASX 200 share to get a downgrade either.
Cettire Ltd (ASX: CTT) was in the firing line. Brokers at RBC cut their rating on this luxury retailer to 'underperform', giving Cettire a 12-month share price target of 90 cents. Cettire investors will no doubt be hoping that one isn't on the money, given that it would mean the company would drop nearly 40% from its current pricing.
Copper miner Sandfire Resources Ltd (ASX: SFR) is the unlucky recipient of a broker opinion today. ASX broker Macquarie has reportedly cut its rating on Sandfire shares down to 'neutral'. That comes with a 12-month share price target of $10.20.
