Do you have space in your portfolio for some new ASX 200 shares?
If you do, then it could be worth looking at the three listed below that Bell Potter rates as buys.
Here's why the broker named them as best buys for 2025:
Brickworks Ltd (ASX: BKW)
This building materials and property development company could be an ASX 200 share to buy according to Bell Potter. Its analysts have a buy rating and $32.00 price target on its shares.
The broker believes that Brickworks is positioned for growth thanks to probable interest rate cuts in 2025. 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.
Perpetual Ltd (ASX: PPT)
Another ASX 200 share that could be a best buy in 2025 according to the broker is financial services company Perpetual. Bell Potter has a buy rating and $24.76 price target on its shares.
Although the company's disposal of the Corporate Trust (CT) and Wealth management (WM) businesses to KKR for $2.175 billion looks likely to collapse, the broker remains positive and sees significant value in its shares. It said:
We remain positive for three reasons. Firstly, although the demerger may not happen, CT & WM are good businesses which are growing, have relatively stable earnings, and are cash generative. Secondly, the new CEO Bernard Reilly has made it a priority to address the cost base. Clarity about costs should start to see forecasts rising. Thirdly, the shares are unloved and undervalued, with the asset management business having an implied valuation of 4.5-5.5x EBITDA. The recent share price movements highlight the upside from a small positive change in sentiment.
Boss Energy Ltd (ASX: BOE)
Finally, if you are interested in gaining exposure to uranium, then Boss Energy could be the ASX 200 share to do it with according to Bell Potter. It has a buy rating and $5.70 price target on its shares.
The broker believes it would be a great way to gain exposure to an upcoming uranium bull market. It explains:
Boss Energy's Honeymoon project recommenced production in April-24, with 1Q25 production and sales of 89klbs and 57klbs respectively. The Alta Mesa project with JV partner enCore energy in South Texas also recommenced production, with a target of reaching 1.5Mlbs pa by CY26 (BOE share 450klbs pa). We continue to see significant value in BOE, with optionality around expansion at Honeymoon via low-risk and cost regional resources at Jasons and Goulds Dam. With the inclusion of Alta Mesa, BOE boasts a geographically diversified multi-asset portfolio with several growth levers yet to be pulled, heading into a uranium bull market.
