It appears sentiment is cautiously optimistic for the S&P/ASX 200 as we begin the week.
After a tough month in March, Australia's benchmark index has shown signs of a rebound during April.
Last week, the index rose 4.4%, its best weekly gain since October 2022.
With the tide finally turning for ASX 200 shares, here are 5 that remain significantly below fair value according to broker estimates.
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CAR Group Ltd (ASX: CAR)
The CAR Group share price fell 14% in March. However, since late March, it has slowly turned a corner.
Investors will be hoping it has reached the bottom of this latest cycle, as investors exited their positions in CAR Group shares largely due to AI replacement fears.
It is opening this week at $23.36 per share, which is still 24% lower than the start of 2026.
This is significantly below fair price estimates from brokers.
Recently, Morgan Stanley reiterated its buy recommendation and placed a $32 price target on the ASX 200 company.
This indicates a healthy 37% upside from current levels.
CSL Ltd (ASX: CSL)
CSL has also generated plenty of headlines recently as the ASX 200 stock appears to have been oversold.
The biotechnology company has seen its share price fall 19% year to date and more than 40% over the last 12 months.
It has reached a point where it is simply too cheap to ignore for many investors, and Bell Potter recently placed a $155 target on the ASX 200 stock.
Despite its hold recommendation, this still indicates an upside of 11.5% from current levels.
Breville Group Ltd (ASX: BRG)
Breville Group shares are currently hovering around $28.25, significantly below yearly highs.
The consumer discretionary stock fell 16% during March.
Macquarie recently placed an outperform rating and price target of $37.10 on the ASX 200 stock.
This indicates an upside of 31%.
JB Hi-Fi Ltd (ASX: JBH)
JB Hi-Fi shares are down more than 20% year to date, which includes an 11% fall during March.
Late last month, Bell Potter retained their buy rating on this retail giant's shares with a price target of $90.
From last week's closing price of $75.21, this indicates an upside of nearly 20% for this ASX 200 stock.
WiseTech Global Ltd (ASX: WTC)
Finally, WiseTech shares have been heavily sold off this year amidst AI concerns.
The ASX 200 company has seen its share price tumble 45% since the start of 2026.
However, it also appears too cheap to ignore.
Morgan Stanley recently retained its buy rating for Wisetech with a $70 price target.
This suggests an upside potential of 86%.
