Sentiment can shift quickly in the share market, so it can always be worth staying up to date with what brokers are saying about ASX 200 shares.
With that in mind, let's look at a number of ASX 200 shares that have been upgraded this week. Here's what's happening:
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Codan Ltd (ASX: CDA)
The team at Macquarie has upgraded this metal detector manufacturer's shares to an outperform rating with an increased price target of $44.20. Based on its current share price of $39.67, this implies potential upside of approximately 11.5% for investors.
Macquarie is feeling bullish on the company's exposure to the booming unmanned aerial vehicle (drone) market.
News Corp (ASX: NWS)
Macquarie has also become positive on media giant News Corp. This week the broker has upgraded News Corp shares to an outperform rating with an improved price target of $46.25. Based on its current share price of $42.16, this implies potential upside of almost 10% over the next 12 months.
The broker believes the media conglomerate is successfully reinforcing the proprietary nature of its data. It highlights that News Corp's earnings are benefiting as the company executes on content license deals with artificial intelligence (AI) companies.
In addition, Macquarie points out that the ASX 200 share is leaning into AI as a way to generate internal efficiencies.
Inghams Group Ltd (ASX: ING)
The team at Macquarie has been at it again, upgrading this poultry producer's shares this week.
On Tuesday, Inghams released a trading update which revealed that sales volumes were up 1.1% for the first nine months of FY 2026.
As a result, management has been able to reaffirm its FY 2026 guidance for underlying EBITDA of $180 million to $200 million.
The company's CEO and managing director, Ed Alexander, commented: "We are seeing improved operational performance and positive momentum from initiatives already delivered, while reaffirming our FY26 guidance in a challenging environment."
In response to the update, Macquarie upgraded the ASX 200 share to a neutral rating (from underperform) with a $1.80 price target. This compares to the current Inghams share price of $1.90.
It also expects a dividend yield of approximately 5.2% over the next 12 months.
Macquarie believes that the company is positioned for growth thanks to better cost of production and improvements across its supply chain.
Elsewhere, Jarden has upgraded Inghams to an overweight rating with a $2.70 price target. Jarden also upgraded Brambles Ltd (ASX: BXB) shares to an overweight rating with a $25.15 price target.
