No one rings a bell at the start of a bull market — but the best time to buy is often when great companies are still trading well below their highs.
Right now, several high-quality ASX 200 shares are sitting well off their 52-week peaks, despite their solid long-term fundamentals. For patient investors, this could be a rare chance to buy in before sentiment turns.
Here are three beaten-down shares that analysts think could be worth snapping up. They are as follows:
Image source: Getty Images
CSL Ltd (ASX: CSL)
This global biotech leader's shares are down 18% from their 52-week high.
Interestingly, this is despite the company's outlook looking more positive than it has in years.
After battling higher costs for a number of years, CSL's key plasma therapies business is being tipped for a period of margin expansion and strong earnings growth. Combined with its pipeline of potentially lucrative products, this bodes well for the medium term.
Goldman Sachs is bullish on the company and expects double-digit earnings growth for the next few years. For this reason, it recently put a buy rating and $307.30 price target on its shares.
Treasury Wine Estates Ltd (ASX: TWE)
Another beaten down ASX 200 share that could be a buy according to analysts is Treasury Wine. This wine giant's shares are down 29% from their 52-week high.
While the company's performance has been a touch mixed in recent years, things are looking increasingly positive. That's because Treasury Wine is executing a strategic shift toward premium wines, focusing on higher-margin products and international growth — especially in the US and Asia.
And with China now open to Australian wine and demand growing strongly, it is no wonder that Goldman Sachs is predicting double-digit earnings growth through to at least FY 2027.
The broker has a buy rating and $12.90 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
Finally, WiseTech could be an ASX 200 share to buy according to analysts. Especially with its shares down 33% from their 52-week high due to concerns over product delays and the behaviour of its founder.
While the headlines haven't been pretty, there's no denying that this logistics solutions technology company is well-positioned for strong growth thanks to its flagship platform, CargoWise. It is used by freight forwarders and supply chain operators worldwide to manage complex international shipping operations.
Bell Potter is bullish and believes the company's strong growth will continue for years to come. It has put a buy rating and $112.50 price target on its shares.
