Last week I looked at a couple of ASX 200 shares that Bell Potter has named as best buys for 2025. You can read about the first two here.
Now let's take a look at a couple more that have made its list for the year ahead. They are as follows:
Brickworks Ltd (ASX: BKW)
The first ASX 200 share that could be a top buy in 2025 is building products company Brickworks.
Bell Potter believes that the company is well-placed to benefit from interest rate cuts next year. It explains:
We see BKW as a high delta exposure to interest rate cuts and by extension a stock to own as we edge closer to the cycle pivot point (Bell Potter's base case for our first cut is 1H CY25). Specifically, we see a scenario unfolding where BKW could realise double digit mark-to-market NTA growth p.a. quite comfortably in coming years through positive revals (i.e. cap rate reversal), ongoing property development and rent reversion (BKW remains ~28% underrented and 50% short-WALE), as well as continued SOL outperformance. This is a growth story we think few ASX-200 industrials can currently match.
The broker has a buy rating and $32.00 price target on its shares.
Polynovo Ltd (ASX: PNV)
Bell Potter is also feeling very bullish about Polynovo and thinks it could be an ASX 200 share to buy in 2025.
It describes itself as a disruptive medical technology company making products that simplify the management of acute complex wounds, redefining healing with meaningfully differentiated patient outcomes across multiple wound etiologies.
After treating 50,000+ patients across 41 countries, Polynovo notes that it is investing for growth via new products, indications, and markets with a view to treat millions more.
Commenting on its bullish view of the stock, the broker said:
PolyNovo is a leader in the market for dermal replacement wound care products in the United States. Novosorb has gained excellent traction in the US hospital sector over recent years which has seen dozens of surgeons commence using the product for complex wound repair.
FY25 revenues are likely to grow at >30% off a revenue base of $110m and the company is also expected to generate earnings and record its first full year of cash flow positive operations. In the clinic, PNV is expected to report headline data from the clinical trial in full thickness burns and this will likely lead to an upgrade in the registration from a 510K to a pre market approval (PMA) and improved pricing.
Bell Potter has a buy rating and $3.00 price target on its shares.
