There are plenty of ASX 200 shares to choose from out there, but which ones could be buys?
Let's take a look at what one analyst is saying about three popular shares, courtesy of The Bull. Here's what you need to know:
Amcor (ASX: AMC)
This packaging giant's shares could be a buy according to Sanlam Private Wealth. It highlights its attractive discount and positive earnings growth outlook as reasons to be positive. It also appears to see it as an attractive option in volatile markets due to its defensive earnings. It said:
This global packaging maker is trading at a discount. We expect the company to generate value from the Berry Global acquisition in a deal it closed earlier this year. The company has guided for adjusted earnings per share of between 80 cents and 83 cents in fiscal year 2026. This represents constant currency growth of between 12 per cent and 17 per cent.
Amcor forecasts a significant increase in free cash flow of between $1.8 billion and $1.9 billion. The stock was recently trading on an attractive dividend yield of around 6 per cent. This stock appeals, particularly if the market becomes more volatile.
ANZ Group Holdings Ltd (ASX: ANZ)
Banking giant ANZ released its 2030 strategy recently and Sanlam Private Wealth is sceptical on its ability to deliver on its goals.
Due to this and its strong share price run, it thinks that ANZ shares are a sell at current levels. It explains:
ANZ's 2030 strategy has generated investor interest, but we believe it appears too aggressive. The Suncorp Bank acquisition needs to be successful. In our view, the ANZ doesn't have a positive track record in managing acquisitions, resulting in customer attrition. The bank has enjoyed a strong run, so we would be inclined to take some profits and monitor performance and developments from the sidelines as the ambitious 2030 strategy continues to unfold moving forward.
Origin Energy Ltd (ASX: ORG)
Finally, energy giant Origin has been a strong performer recently due to M&A speculation.
And while Sanlam Private Wealth sees positives from the potential deal, it isn't enough for a buy rating. Instead, it rates Origin shares as a hold currently. It said:
The Origin share price experienced a strong September quarter. This impressive gain was mostly driven by speculation that an investment bank had been appointed to oversee the potential sale of UK business Kraken Technologies, a division of Octopus Energy, a company in which Origin owns about 23 per cent.
Origin supports the confirmed separation of Kraken and Octopus, and, accordingly, we believe it will add value to the Australian company's share price. Origin's defensiveness also appeals in volatile markets.
