If you are looking for some big returns to supercharge your investment portfolio, then read on.
That's because analysts at Morgans have just named two ASX 200 shares as buys with the potential to rise strongly from current levels.
Here's what the broker is recommending:
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Amcor (ASX: AMC)
Morgans sees a lot of value in this packaging company's shares following its 5:1 share consolidation.
In response to the consolidation, the broker has retained its buy rating and updated its price target to $76.00. Based on its current share price of $63.76, this implies potential upside of almost 20% between now and this time next year.
It highlights that the ASX 200 share is trading on very low forecast earnings multiples with a generous forward dividend yield. It said:
Following AMC's recent 5:1 share consolidation, we update our per share estimates (EPS and DPS) to reflect the new share count. Our underlying earnings forecasts change marginally (between 0-1%), largely reflecting updates to FX assumptions. Our target price increases to $76.00 (from $15.20 previously) following the share consolidation.
With a 12-month forecast TSR of 21%, we maintain our BUY rating. Following AMC's solid 1Q26 result, management's increased confidence in delivering FY26 synergy targets, and the reaffirmation of FY26 guidance, we believe the outlook remains positive. Trading on 10x FY27F PE with a 5.8% yield, we continue to view the valuation as attractive. AMC is due to report its 1H26 result in early February.
Cleanaway Waste Management Ltd (ASX: CWY)
Another ASX 200 share that Morgans is positive on this week is waste management leader Cleanaway.
It has upgraded its shares to a buy rating with a $3.11 price target. This implies potential upside of 23% for investors over the next 12 months before dividends.
Morgans sees scope for even more upside should Cleanaway become a takeover target in the future. In light of this, it sees recent share price weakness as a buy rating opportunity for investors.
Commenting on the ASX 200 share, the broker said:
We update our FY26 half-year earnings splits ahead of CWY's 1H26 result on 26 February. 12 month target price unchanged at $3.11/sh. Valuation upside is evident from the takeover bid for QUB that implies a takeover value for CWY of c.$4/sh. Given CWY's recent share price weakness we upgrade from ACCUMULATE to BUY, with total potential return of c.25% at current prices.
