Are you on the hunt for big returns? If you are, then the ASX 200 shares listed below could be right up your street.
That's because they have been named as buys by brokers this month and tipped to storm materially higher. They are as follows:
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Light & Wonder Inc (ASX: LNW)
Analysts at Macquarie Group Ltd (ASX: MQG) think that this beaten down ASX 200 share could deliver big returns over the next 12 months.
In response to the gaming technology company's second quarter update, the broker has retained its outperform rating with a reduced price target of $180.00. Based on its current share price of $118.75, this implies potential upside of 51%.
Macquarie continues to believe that Light & Wonder will deliver strong earnings growth through to at least 2028. As a result, it expects the market to eventually re-rate its shares to higher multiples. It said:
It is easy to be cautious on LNW in the near term (i.e., guidance risks, litigation & leverage), but stepping back, we forecast 16% average annual EPSA (FY25-28E) with the stock trading on 12.5x 12m fwd P/E. With price discovery moving to Australia, a re-rate is likely. Retain Outperform.
Telix Pharmaceuticals Ltd (ASX: TLX)
Bell Potter continues to believe that this radiopharmaceuticals company's shares are being severely undervalued by the market.
Last week, the broker retained its buy rating on the ASX 200 share with a trimmed price target of $33.00. Based on its current share price of $17.64, this implies potential upside of almost 90%.
Its analysts acknowledge that there have been a number of dark clouds in 2025, but it believes this is an overreaction and has created a buying opportunity ahead of some potential big news. It said:
The period since 1 January has been difficult – despite record sales (all to easily forgotten in the current circumstance). The triple whammy of the complete response letter on Pixclara, the SEC investigation on the prostate cancer therapies and now the increase in opex beyond market expectation are not easily ignored.
Despite these events, the catalysts described above are highly compelling as we set out in our note of 10 July. The data supporting the approval of Zircaix is gold standard and we believe the BLA is likely to receive approval. ccRCC is an attractive market (TAM~US$500m) with margins likely to be more lucrative than the current GP margin for the group. For these key reasons, we retain our BUY recommendation. PT modestly lowered from $34.00 to $33.00.
