The team at Bell Potter has been busy updating its financial models for a number of popular ASX 200 shares.
Let's see whether the broker rates them as buys, holds, or sells. Here's what you need to know:
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Endeavour Group Ltd (ASX: EDV)
This drinks giant released its half-year results this week and Bell Potter responded positively.
And while the broker acknowledges that consumer spending is weak, it believes market expectations are too low. As a result, it has put a buy rating on Endeavour's shares with an improved price target of $4.15. It said:
We retain our Buy rating and raise TP on lower net debt. Although the outlook for consumer spending has weakened, we believe market expectations are low for the company's strategic refresh, leaving greater room for upside potential. We see opportunity for consensus upgrades: a reenforcing in Dan Murphy's lowest price perception; and cost-out opportunities.
Life360 Inc (ASX: 360)
Another ASX 200 share that released its results this week was family safety technology company Life360.
Bell Potter was pleased with these results, highlighting that its performance was stronger than expected. In light of this, it has retained its buy rating with a trimmed price target of $40.00.
The broker appears to believe that FY 2026 could be another year of guidance outperformance. It said:
We are at a loss to explain the share price reaction today other than the flagged greater skew in earnings this year to H2. But Life360 has a very good history of achieving and often exceeding its guidance so while we expect potentially only modest adjusted EBITDA growth in 1H2026, we do expect a return to very strong growth in 2H2026. We note for comparison purposes that Technology One has also flagged a similar greater earnings skew in FY26.
Lynas Rare Earths Ltd (ASX: LYC)
Finally, Lynas shares have been strong performers over the past 12 months. And while some of this is justified, Bell Potter believes its shares have rallied too far and are pricing in unrealistic long-term rare earths prices.
As a result, it is urging investors to sell Lynas shares and has put an $11.60 price target on them. It explains:
Fundamentals are improving, however we continue to see a significant premium applied to the stock. NdPr has risen more recently (+US$100/kg), we estimate the stock is factoring in ~US$175/kg into perpetuity. Our TP increases slightly and we maintain the Sell recommendation, EPS changes in this report are FY26: -8% FY27 – 10% FY28 -11%.
